Japan-based JXTG Nippon Oil & Energy Corporation will conduct the feasibility study of a new ethylidene norbornene (ENB) plant, to be built in Jubail, as part of the Amiral petrochemical complex, announced by Saudi Aramco and Total on Oct. 8, 2018. The new ENB plant project would make the Kingdom …

Oil may have clocked some stunning moves this week, but the systemic implications do not look so dire, according to JPMorgan Chase & Co. Moves across other asset classes look “tame” by the standards of typical recessions, despite front-month West Texas Intermediate futures falling at one point this week to …

Iran’s Consul General in Nakhichevan Seyyed Ahmad Hosseini and Head of Nakhchivan Oil and Gas Supply Institute Behrouz Azimov on Wednesday discussed cooperation between the country and the autonomous republic in the energy sector. During the meeting, Azimov referred to the recent fluctuations in the energy market and described as …

The International Energy Agency (IEA) has called for the OPEC-led group to take more production offline and faster than previously agreed. Following the carnage of negative WTI prices on April 20, and a growing realisation about pressure on storage, the energy watchdog’s head Fatih Birol set out 3 steps. The …

Chevron will be forced to effectively wind down its operations in Venezuela, dealing the Maduro regime’s crumbling oil industry another blow as U.S. President Donald Trump maneuvers for regime change in the Latin American nation. The U.S. Treasury Department will no longer allow the company to drill wells, sell and …

The Kremlin said on Wednesday that it was too early to draw any conclusions about possible additional steps to stem the slump in oil prices before the global deal agreed by the OPEC+ group takes effect on May 1. Oil prices slumped to less than $16 a barrel on Wednesday, …

The oil-price plunge could create a historic precedent in which the US may finally help boost the sinking energy market, albeit involuntarily, instead of benefiting at the expense of others, oil executive Mike Cantrell believes. The price of US benchmark West Texas Intermediate (WTI) contract for May finished trading on …

The International Energy Agency (IEA) said on Tuesday the OPEC+ should consider quicker, deeper production cuts to ease the turmoil in oil markets, Kallanish Energy reports. Executive director Fatih Birol said the initial 9.7 million barrels per day (Mmbpd) production cut in May and June “is a solid start but …

Oil producer countries should respect crude production cuts aimed at stabilizing the oil market, Iranian Oil Minister Bijan Zanganeh told state TV on Wednesday. “The market will stabilize gradually if the oil production cut is respected by all the producer countries … Cooperation is necessary under this circumstances,” Zanganeh said. …

Azerbaijan’s Energy Minister Parviz Shahbazov has attended the informal video conference with the participation of several OPEC+ countries, the ministry told Trend. According to the ministry, the current state of the world oil market and the implementation of commitments since May have been discussed at the conference. During the discussions, …