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While everyone is understandably watching the meltdown in the crude oil market, the global market for natural gas is also cratering. At least 20 cargoes of U.S. liquefied natural gas (LNG) have been cancelled by buyers in Asia and Europe, according to Reuters. The global pandemic and the unfolding economic …

President Donald Trump is considering all options available to him to make the Saudis pay for the oil price war as the crash that followed has done significant damage to the U.S. oil industry With last month having seen the indignity of the principal U.S. oil benchmark, West Texas Intermediate …

South Korea, the country with the fourth-largest commercial storage capacity in Asia, has just run out of room to store more oil, sources familiar with the matter told Bloomberg on Monday, as available storage capacity everywhere in the world in shrinking fast amid the demand collapse. South Korea’s total commercial …

Iran’s non-oil exports to Iraq are reported to have increased by 0.7 percent. For the Iranian calendar year 1398 (ended on March 19), non-oil export to Iraq hit $8.9 billion, according to a deputy with the country’s Trade Promotion Organization (TPO). Tehran Times reports that medicines and medical equipment, plastic …

Qatar managed to maintain its position as the largest liquefied natural gas exporter in the world (at 77.8mn tonnes) in 2019, International Gas Union (IGU) said in its “2020 World LNG Report”. Global LNG trade increased further in 2019, reaching 354.73mn tonnes, an increase of 40.93mn tonnes since the end …

China imported 31 percent more oil from Russia last month while its intake of Saudi crude slipped by 1.8 percent compared to March 2019, Reuters reported, citing calculations based on official customs data. Overall crude oil imports rose by 4.5 percent on the year to 9.68 million bpd. Of the …

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 …

Qatar’s sovereign wealth fund will remain “very active” through the coronavirus pandemic as the oil-rich Gulf investor searches for deals in the health and technology industries, the country’s finance minister told the Financial Times newspaper. Ali Shareef Al Emadi said the $320bn Qatar Investment Authority’s (QIA’s) “main focus” would be …

Following the 2018 unilateral withdrawal of the US from the 2015 Iran nuclear deal and the reimposition of sanctions against Iran, Washington has been issuing special waivers that permit some countries and companies to conduct business with Tehran. The US Department of State has extended a waiver for Iraq to …

Russia’s energy ministry expects that demand on the oil market will gradually restore in the second half of the year but before it happens oil producing countries should avoid filling of oil storage facilities to the full and prevent a market collapse, Minister Alexander Novak said on Sunday. “The world …