Global markets are “awash” in crude thanks to the surge in US oil output, and the boom looks set to continue, US Energy Secretary Rick Perry said in a Bloomberg TV interview.
News ID: 7039 Publish Date : 2019/10/27
Oil slipped toward $61 a barrel on Monday, falling for a second day, pressured by expectations for a rise in US crude inventories and fading optimism over a US-China trade deal.
News ID: 7038 Publish Date : 2019/10/29
The Iranian Offshore Engineering and Construction Company (IOEC) is the second local company which has won exploration agreement with the National Iranian Oil Company (NIOC), as the country is showing more self-dependence in developing its oil industry after US sanctions.
News ID: 6906 Publish Date : 2019/10/23
US oil production is likely to peak in the next few years as current petroleum prices are capping the pace of expansion, Russian Energy Minister Alexander Novak said on Tuesday.
News ID: 6902 Publish Date : 2019/10/22
Saudi Aramco’s IPO looks doomed to failure as it targets a $2 trillion flotation. Tepid oil prices, the fraught politics of the Middle East and the demonization of fossil fuel producers in response to climate change fears have all made the initial public offering (IPO) a mission impossible.
News ID: 6900 Publish Date : 2019/10/23
Several marine fuel suppliers have started selling 0.5pc sulphur fuel oil in Hamburg, just over two months before the International Maritime Organisation's (IMO) regulations will cap allowed sulphur content at 0.5pc.
News ID: 6828 Publish Date : 2019/10/22
A minor fire at Iran’s oldest and largest oil refinery in the Southwestern city of Abadan has been completely extinguished, authorities announced on Monday, underlining that the event left insignificant damage and production has survived intact.
News ID: 6813 Publish Date : 2019/10/21
Head of Iran’s most profitable petrochemical plant said foreign sanctions on the country’s petrochemical industry have ended in complete failure.
News ID: 6811 Publish Date : 2019/10/21
Gas production at one of the platforms of the giant South Pars Gas Field off the Persian Gulf, which had been damaged, has been fully repaired, the operations manager of Pars Oil and Gas Company said.
News ID: 6808 Publish Date : 2019/10/20
Governor of the Central bank of Iran (CBI) Abdolnasser Hemmati announced that the country has further reduced its reliance on oil revenues to bring the share of the income earned though crude sales in the budget to less than 30 percent.
News ID: 6750 Publish Date : 2019/10/20
The OPEC+ group of oil producers will need to make deeper output cuts when they meet in December. That is the inescapable conclusion from the latest round of monthly reports published by the three big oil-forecasting agencies.
News ID: 6745 Publish Date : 2019/10/19
Ships fitted with exhaust gas cleaning systems in September spent an average of 44 days out of service, a 33pc increase from 33 days for installation of such scrubber systems in June, according to shipping firm Clarksons.
News ID: 6716 Publish Date : 2019/10/18
ExxonMobil is banning the use of any ship that has visited Venezuela in the last year to fulfill future crude shipments, a move that could effectively sideline hundreds of tankers from working for the company.
News ID: 6713 Publish Date : 2019/10/18
Venezuela's opposition-controlled National Assembly signaled to bondholders today that it will not honor a $914mn principal and interest obligation because it says the debt issuance is unconstitutional.
News ID: 6671 Publish Date : 2019/10/15
Russian Energy Minister Alexander Novak said on Monday there were no talks underway to change the global output deal under which OPEC and non-OPEC oil-producing countries have curbed output in order to support prices.
News ID: 6649 Publish Date : 2019/10/14
Oil prices fell Monday as scant details about the first phase of a trade deal between the United States and China undercut optimism over a US-Sino thaw that had helped lift crude markets by 2% at the end of last week.
News ID: 6648 Publish Date : 2019/10/14
"Additional aggressive actions in the region are likely in the months ahead," Paul Sheldon, chief geopolitical advisor with S&P Global Platts Analytics, said in a recent note.
News ID: 6646 Publish Date : 2019/10/09
The deputy head of the National Iranian Oil Company (NIOC) announced that a massive gas field has been discovered south of the country.
News ID: 6638 Publish Date : 2019/10/13
OPEC trimmed its forecast for oil demand growth for the third month in a row on Thursday, citing weaker-than-expected data in the Asia Pacific region as well as advanced economies in the Americas.
News ID: 6633 Publish Date : 2019/10/11
Oil prices jumped more than 2% on Friday after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.
News ID: 6632 Publish Date : 2019/10/11
