International

China Still Attractive for Foreign Companies

On April 22, Exxon Mobil officially started an ethane programe in Huizhou city, South China’s Guangdong province, in which it has invested $10 billion. It should be noted that the programme started when the whole world is fighting the Covid-19 pandemic, global oil prices are low, and many oil enterprises …

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The Oil Industry Can No Longer Rely On China

The global oil sector is reeling from a combination of negative oil prices, storage overload, demand destruction, and calls for a renewable energy revolution in the post-COVID-19 era. US and European oil market analysts appear to be pinning their hopes on a rebound in oil demand from Asia. Even international …

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Russia’s Oil Industry has Certain Reserves

The Russian oil industry does not yet need government support, it has accumulated certain reserves, Russian Minister of Economic Development Maxim Reshetnikov said in an interview with Rossiya 24 TV channel. “So far they are managing. On the one hand, certain reserves have been accumulated, and on the other hand, …

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IEA Suggests OPEC+ Deepen, Speed up Supply Cuts

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 …

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