Tag Archives: Oil Price

China’s network of subsea pipelines has reached a total length of 10,000 kilometers, CNOOC reported this week. The news was hailed by media as a milestone in offshore oil and gas development in the world’s largest importer of energy commodities as it seeks to change that status. China has been …

Shell is preparing to start production of liquefied natural gas from the second train at its installation in British Columbia, set to boost the total output from the facility by 6.5 million tons. The news comes as unnamed sources told Reuters this week that Shell and its partners at LNG …

Nigeria is pumping more crude and drilling harder than it has in years, thanks to reforms under President Bola Tinubu that are finally coaxing cash back into the upstream. Daily output has climbed to between 1.7 and 1.83 million barrels, while active rigs surged from 31 in January to 50 …

India likely exported the highest-ever monthly volume of diesel to Europe in September, as higher premiums and curbed capacity due to maintenance in Europe incentivized Indian refiners to ship more fuel to the west, Reuters reported on Thursday, citing vessel-tracking data and trade sources. India is estimated to have exported …

Global LNG demand growth will be supported not only by higher power and gas consumption but also by surging demand from the shipping industry, where liquefied natural gas is poised to become key to replacing the dirtier fuel oil and other oil-based marine fuels. Demand for LNG bunkering is expected …

OPEC’s second largest producer, Iraq, plans to increase its oil production capacity to 5.5 million barrels per day (bpd) by the end of the year, up from about 4.4 million bpd now, Iraqi Oil Minister Hayyan Abdul Ghani told the Rudaw news outlet on Wednesday. “The plan is to reach …

TotalEnergies will sell its minority non-operated stakes in three mature oil and gas fields offshore Norway as part of a strategy to high-grade its upstream portfolio, the French supermajor said on Wednesday. The group’s Norwegian subsidiary, TotalEnergies EP Norge, has signed an agreement to divest its non-operated interest, 39.89%, in …

OPEC has slammed the brake on speculation, flatly rejecting media reports that the G8 is preparing to hike crude oil production by half a million barrels per day. In a statement from Vienna on Tuesday, the OPEC Secretariat called the claims “wholly inaccurate and misleading,” stressing that discussions among ministers …

The export availability of crude oil from Iraq’s semi-autonomous region of Kurdistan continues to increase after the pipeline from northern Iraq to the Turkish Mediterranean coast resumed flows on Saturday, one of the foreign companies operating in Kurdistan said on Monday. UK-listed Gulf Keystone Petroleum confirmed that crude oil exports …

Saudi Arabia is expected to raise slightly the price of its flagship crude grade loading for Asia in November, to reflect stronger Middle Eastern oil benchmarks, refining sources told Reuters in a survey released on Monday. The world’s top crude exporter will be tempted to increase its prices amid stronger …