Latest news
BP sanctions Thunder Horse South expansion phase 2 project
Oil and gas giant BP said that it will move ahead with the Thunder Horse South expansion phase 2 project in the US Gulf of Mexico to draw an additional 50,000 gross barrels of oil equivalent per day (boe/d) from the Thunder Horse oil field.
read more... 08/05/2019
Russia to Cut Crude Oil Production
Russia’s oil output will be cut by another 1 million barrels per day over the next week after its oil exports were restricted due to contamination issues.
read more... 07/05/2019
Poland, Hungary, Czech to release oil reserves after pipeline shutdown
Poland, Hungary and the Czech Republic are offering their domestic refiners about 8 million barrels of oil from strategic reserves after supplies from Russia's Druzhba pipeline to Europe were halted, industry sources said on Friday.
read more... 06/05/2019
New mega cartel is emerging in oil markets
Almaty. April 30. KazTAG - China and India—two of the world’s largest oil importers and the biggest demand growth centers globally—are close to setting up an oil buyers’ club to have a say in the pricing and sourcing of crude oil amid OPEC’s cuts and U.S. sanctions on Iran and Venezuela, Indian outlet livemint reports, citing three officials with knowledge of the talks, reports OilPrice.com.
read more... 30/04/2019
Saudi Taqa sees $1.2bn in America, Middle East oil deals
Saudi Arabia is trying to develop manufacturing, services and technology businesses to move beyond crude oil sales for most of its revenue
read more... 29/04/2019