- Five Major Challenges Facing The Energy Industry
- Record-high prices at the pump, a looming diesel shortage right when the summer season is starting, and an uncooperative OPEC are probably reasons for many head
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052019-03
- Russia became the largest LNG supplier in Europe in February
- Russia's LNG delivered to Europe reached a record level in February, ranking first among suppliers.Reuters quoted Refinitiv Eikon as reporting that the Yamak LN
052019-03
- Japan imported 26.109mln barrels of crude oil from UAE in January
- Japan has imported from the United Arab Emirates 26.109 million barrels of crude oil in January 2019, data released by the Agency of Energy and Natural Resource
052019-03
- Russia cuts February output deeper to comply with OPEC pact
- Russia’s oil producers cut their output deeper in February as the nation strives to implement an agreement with OPEC following criticism that it was movin
012018-01
- Happy Lantern Festival!
- The Lantern Festival is the last day (traditionally) of China's most important festival, Spring Festival.
222017-09
- OPEC, Non-OPEC Compliance Surpassed 100% in August
- Compliance to agreed oil-output cuts by OPEC and non-OPEC countries surpassed 100% last month, Kuwait's oil minister said Thursday, as the coalition of producers prepares to meet in Vienna on Friday.
202017-09
- Why oil markets could turn volatile this week?
- Ministers from the Organization of the Petroleum Exporting Countries, Russia and other producers meet in Vienna on Friday and are due to consider extending output cuts that began in January.
OPEC and its allies have agreed to reduce output by about 1.8 million barrels per day (bpd) until March 2018 in an attempt to empty inventories. But oil markets remain amply supplied due to the exemption of OPEC members Libya and Nigeria and a lack of compliance by others, triggering calls for stricter or extended cuts.
152017-09
- Aramco says IPO on track after report it is preparing for possible delay
- Saudi Aramco's planned initial public offering remains on track, the company said on Thursday, after Bloomberg reported that the oil company is preparing contingency plans for a possible delay by a few months into 2019.
Saudi authorities are aiming to list up to 5 percent of the world's largest oil producer on both the Saudi stock exchange in Riyadh, the Tadawul, and one or more international markets in an IPO that could raise $100 billion.
132017-09
- US crude edges up 16 cents, settling at $48.23, as OPEC output falls
- Oil prices rose on Tuesday after OPEC said its output fell in August and forecast higher demand in 2018, indicating its production-cutting deal with non-member countries is helping to tackle a supply glut.
112017-09
- Will China and Russia support oil sanctions on North Korea? Experts are skeptical
- The United Nations Security Council is meeting later on Monday to vote on new sanctions on North Korea, but whether China and Russia will support an oil embargo remains in question, said experts.
The U.S. wants the Security Council to impose an oil embargo on the reclusive nation, halt its key export of textiles and subject leader Kim Jong Un to a financial and travel ban, Reuters reported, citing a draft resolution it reviewed.
082017-09
- US crude oil settles at $47.48 per barrel, down over 3%
- Oil prices steadied on Friday after almost a week of sharp rises as Hurricane Irma, one of the most powerful storms in a century, drove towards Florida after tearing through the Caribbean.
Irma is the second major hurricane to approach the United States in two weeks and has already killed 14, flattening whole islands. Its predecessor, Harvey, shut a quarter of U.S. refineries and 8 percent of U.S. oil production.
