Brazil climbed to № 3 among China’s crude oil suppliers last month thanks to continued purchases by independent refiners, whose quotas for imported crude oil are running out, Oilprice analysed. Imports of Brazilian crude oil stood at 4.49 million tons in September, according to a Reuters report. This translates into …

Oil firms are now expected to drill just 30 exploration wells off the cost of Norway in 2020, down from 57 last year and sharply lagging original projections of around 50 wells, the Norwegian Petroleum Directorate (NPD) said on Tuesday. “The decline in demand for oil and lower prices have …

With the pandemic pummelling global demand, India will drive the energy consumption in the world, Prime Minister Narendra Modi said on Monday as he pitched for global oil and gas suppliers to adopt responsible pricing and move towards transparent and flexible markets. Speaking at the 4th India Energy Forum by …

The EU imported the highest ever volume of LNG in 2019 at 108 billion cubic meters, marking 27% of total gas imports and 22% of the EU’s gas consumption, according to the European Commission. The gas market report showed that Qatar supplied 30 bcm of LNG to the EU in …

Exxon Mobil Corp is “very close” to completing its workforce appraisals in the United States and Canada and expects to unveil job cuts, its chief executive told employees in an email. The second-largest U.S. oil company by market value lost nearly $1.7 billion in the first six months and analysts …

Oil Minister Bijan Zangeneh on Monday slammed the US for imposing sanctions against him, saying that the era of unilateralism is over in the world. “Imposition of sanctions on me and my colleagues is a passive reaction to the failure of Washington’s policy of reducing [Iran’s] crude oil exports to …

OPEC’s secretary general said on Monday OPEC+ producers did not expect a renewed oil-price collapse as seen in the second quarter, and said producers in the OPEC+ alliance would continue to “stay the course” in balancing the market. OPEC’s Mohammad Barkindo was giving a speech at the virtual India Energy …

A truce in Libya has busted open a renewed source of oil supply, further threatening the commodity’s faltering recovery from its historic drop earlier this year. Libya’s main warring factions signed a purportedly permanent truce last week, roughly one month after a blockade on the country’s oil exports by one …

Saudi Arabia’s energy minister said on Monday the world should be looking at all options to mitigate emissions of greenhouse gases in its fight against climate change, but that getting rid of oil and gas would be “far-fetched and unrealistic”. “Let’s not focus on the fuel of choice but rather …

The world should be looking at all options to mitigate emissions of greenhouse gases in its fight against climate change, but that getting rid of oil and gas would be “far-fetched and unrealistic”, Reuters reported on Monday, citing Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman. “Let’s not focus on …