ExxonMobil and Chevron bosses last year discussed merging the two biggest oil producers in the U.S., Bloomberg News reported on Monday, citing unnamed sources with knowledge of the meeting. According to Bloomberg, ExxonMobil chief executive officer Darren Woods and Chevron CEO Michael Wirth discussed a potential consolidation of the oil …
Read More »Russia may File Lawsuit over Hindrances to Nord Stream 2
Russia may file a lawsuit over the hindrances other countries have been posing to the gas pipeline project Nord Stream 2, Deputy Chairman of Russia’s Security Council Dmitry Medvedev told Russian mass media in an interview. “If there are reasons for this, it goes without saying the issue may be …
Read More »Oil Prices Up over Saudi Output Cut, Vaccine Hopes
Oil prices rose on Monday, boosted by the start of Saudi Arabia’s production cut of 1 million barrels per day (bpd) and with positive reports on the new coronavirus vaccines. International benchmark Brent crude was trading at $55.38 per barrel at 0654 GMT for a 0.65% rise after closing the …
Read More »OPEC+ Sees Almost Full Compliance with January Oil-Supply Cuts
OPEC and its partners estimate they implemented 99% of their agreed oil-supply curbs in January, according to a delegate who asked not to be named. The 23-nation alliance known as OPEC+ aimed to withhold 7.2 million barrels a day of crude from the market this month — about 7% of …
Read More »Saudi Arabia will Sell more Shares of Energy Giant Aramco
Saudi Crown Prince Mohammed bin Salman said Thursday the kingdom will sell more shares of energy giant Aramco in the coming years, following the world’s biggest public listing in 2019. “There will be Aramco share offerings in the coming years, and this cash will be transferred to… the Public Investment …
Read More »Oil Demand Is Back in Focus after Vaccine-Led Rally
The optimism around vaccine rollouts has supported oil prices into 2021 – but traders are now focusing on the impact of the pandemic on longer-term demand for the commodity. Brent crude prices closed at $55.04 a barrel in its last trading session, while US crude dripped slightly to $52.14. “We …
Read More »South Pars Phase 22-24 LPG Storage Tanks Go Operational
Two liquefied petroleum gas (LPG) storage tanks of phase 22-24 of Iran’s South Pars gas field have gone operational and ready to store 80,000 cubic meters of gas, the head of Iran’s Pars Oil and Gas Company (POGC) announced on Saturday. According to Mohammad Meshkinfam a total of four storage …
Read More »The Best Performing Oil Major In 2020
Despite the devastating downturn of 2020, most global majors held up quite well during the market turmoil, a Rystad Energy comparative analysis reveals after measuring key upstream performance metrics. Total outshined all other peers, as the French company not only exceled in financial and operational performance, but also was the …
Read More »NOC, Total Discuss Cooperation to Develop New Oil Fields
Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, has held discussions with the General Manager of Total regarding the use of renewable energies in the Libyan oil sector and the impact of lack of budgets on production, as well as development programs. This meeting highlighted the implications of the …
Read More »IAEA to Carry Out Assessment of Uzbekistan’s Nuclear Infrastructure
The IAEA (International Atomic Energy Agency) mission will carry out a comprehensive assessment of Uzbekistan’s nuclear infrastructure in 2021, Trend reports referring to the press service of IAEA. According to the IAEA’s representatives in Uzbekistan, the cooperation between Uzbekistan and the IAEA was raised to a new level in 2020. …
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