US shale oil production will slip to 7.632 million b/d in July, down 93,000 b/d from June and the lowest in two years, the US Energy Information Administration said June 15. EIA trimmed its estimate for June production by 97,000 b/d from last month’s outlook to 7.725 million b/d, according …

BP Plc will make the biggest write down on the value of its business since the Deepwater Horizon disaster a decade ago, as the coronavirus pandemic hurts long-term oil demand and accelerates the shift to cleaner energy. In a dramatic revision that prompted questions about the affordability of its dividend, …

Iraq’s Oil Marketing Company (SOMO) has notified clients in Asia that they will be loading less Basra crude in July as the producer complies with an OPEC+ pact to cut output, six sources with knowledge of the matter said on Tuesday. Iraq’s supply cuts come on the back of similar …

The natural gas sector must cut emissions of potent greenhouse gas methane to stay relevant in a low-carbon world, International Energy Agency senior energy analyst Christophe McGlade said Tuesday. Energy is the second largest source of methane emissions globally, with oil and gas operations responsible for around 82 million mt …

Oil slipped from the highest settlement in 11 weeks on signs Russia was planning to start easing supply cuts from July, while tensions between the U.S. and China escalated amid the specter of sanctions. Futures fell 1.3% in New York after closing above $34 a barrel for the first time …

Saad al-Kaabi, Qatari energy minister and chief executive of Qatar Petroleum, announced that his country intends to expand the world’s largest liquefied natural gas (LNG) project, i.e. its North Field (known in Iran as South Pars) gas field, and expects investment opportunities overseas, despite a slump in global energy demand …

Iranian Oil Minister Bijan Namdar Zanganeh said the country’s petrochemical production capacity is planned to cross 100 million tons per year by the end of the current fiscal (March 2021). Speaking to local radio, Zanganeh underlined the most important plans of his ministry this year, saying, “We must all take …

The number of U.S. oil-producing companies filing for bankruptcy has exceeded 200 in the first quarter of 2020, and as billions of dollars in revenue have vanished amid low oil prices, thousands of workers have also lost their jobs. Due to the coronavirus, crude oil prices last month hit their …

Russian Energy Minister Alexander Novak is due meet oil majors to discuss the implementation of global oil production curbs and the possible extension of the current level of cuts beyond June, sources familiar with the plans told Reuters. The meeting on Tuesday is a further sign that Moscow is committed …

Gas transit via the Yamal-Europe pipeline from Russia through Belarus and Poland to Germany has been brought down to zero on Tuesday. According to the results of the previous auction, the Polish section of the pipe was booked only by 3.7% on Tuesday. This is according to the data of …