Latest news
Daily (18.09.2019): NBP spot retreated by 4.9% on Friday, amid softer oil prices and lower supply risks
The announcement by Saudi energy minister on Tuesday about the full restoration of Saudi Arabia’s oil production capabilities, after the largest supply disruption in 50 years, stopped the surge and led to a fallback in crude oil prices. Potential releases from strategic oil reserves in the U.S. and other countries added pressure on prices. Consequently, Brent crude dropped back by 6.5% to $64.55 a barrel, while WTI futures retreated by 5.7% to $59.34 a barrel.
read more... 18/09/2019
Gas discovery in the Norwegian Sea
Equinor and its partners AkerBP and Wellesley Petroleum have found gas in the Ørn exploration well south-west of the Marulk field in the Norwegian Sea.
read more... 18/09/2019
BP awards key contracts for $6 billion worth Caspian Sea project
BP, as operator of the Azeri-Chirag-Deepwater Gunashli (ACG) field development, has awarded key contracts for the the Azeri-Central-East (ACE) project located in the Azerbaijan’s sector of the Caspian Sea. Some of the construction activities have already started and will run through mid-2022.
read more... 17/09/2019
Daily (16.09.2019): NBP spot soared by over 13% on Friday amid higher demand after official order to cut Gazprom’s flows
Crude oil prices traded lower on Friday, amid worries over global economic slowdown and thinner oil demand. WTI futures fell by 0.4% to $54.85 a barrel, while Brent crude edged 0.3% down at $60.22 a barrel, heading for the first weekly fall in three and five weeks respectively. Nevertheless, crude prices are expected to spike after a drone attack on two Saudi Aramco oil facilities on Saturday, which slashed by 50% Saudi Arabia’s oil output, or the equivalent of 5% in the global oil supply.
read more... 16/09/2019
Daily (10.09.2019): NBP spot spiked by 6% on Monday, boosted by higher demand and firmer oil prices
Oil prices extended gains on Monday, after the new Saudi energy minister assured that his country will keep limiting oil production in order to help the oil market reach a better balance. As a result, WTI futures hiked by 2.4% to 57.85 USD/bbl, while Brent crude ended 1.7% higher at 62.59 USD/bbl.
read more... 10/09/2019