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Denmark to End North Sea Oil Production
Friday, December 04, 2020Denmark, the European Union's biggest oil producer, will stop offering new licenses in the North Sea and phase out production altogether in 2050 as it takes an historic step toward a fossil-fuel free future.
Analysts Look at OPEC+ Deal
Friday, December 04, 2020Analysts from Wood Mackenzie and Rystad Energy take a look at the latest OPEC+ agreement.
Oil Rises Towards $50 After OPEC+ Deal
Friday, December 04, 2020Oil extended gains toward $50 a barrel after OPEC+ reached a compromise deal to gradually taper production cuts, ending days of uncertainty.
Fitch Solutions Raises Oil Price Forecasts
Thursday, December 03, 2020Fitch Solutions Country Risk & Industry Research has increased its Brent oil price forecasts to 2024, the company's latest oil price outlook has revealed.
OPEC+ Making Headway
Thursday, December 03, 2020OPEC+ is making headway in its negotiations on oil-output cuts, raising the odds that Thursday's meeting can salvage a deal after failed talks earlier in the week.
OPEC+ Works Silently to Repair Cracks
Wednesday, December 02, 2020After failed talks exposed a dangerous fissure at the alliance's core, OPEC and its partners are quietly working to repair the damage.
Oil Hungry Asia Lures 20 US Crude Carrying Tankers
Wednesday, December 02, 2020A fleet of around 20 tankers laden with U.S. crude oil is expected to leave for Asia this month as the region continues to outpace the rest of the world in its recovery from the Covid-19 pandemic.
Venezuela Oil Exports to China Surge
Tuesday, December 01, 2020Venezuela almost tripled its crude oil exports even as the US continues to tighten sanctions against companies seeking to do business with its ruling regime.
Crude Oil Tanker Crew Kidnapped
Tuesday, December 01, 2020Reporting indicates that the MV Agisilaos crude oil tanker has been boarded by an unknown number of people while underway in the Gulf of Guinea, resulting in the kidnap of four crew.
What Happens if OPEC+ Doesn't Delay Supply Increase?
Tuesday, December 01, 2020If OPEC+ increases its production as planned from January, the world will have to face a new 200+ million barrel surplus through May, Rystad Energy calculates.
OPEC+ Talks Delayed as Split Deepens
Tuesday, December 01, 2020OPEC+ talks were delayed for two days to give ministers more time to reach a deal.
CNOOC Targeted by US
Monday, November 30, 2020China's third-biggest oil company faces a U.S. blacklist.
Oil Down on Signs of OPEC+ Discord
Monday, November 30, 2020Oil dropped as a consensus within OPEC+ to postpone an output hike planned for January remained elusive ahead of a meeting of the cartel's power brokers later on Monday.
KXL Indigenous Investors Plan to Get Financing by Q1
Friday, November 27, 2020The indigenous group seeking to buy a stake in TC Energy Corp.'s Keystone XL oil pipeline expects to secure financing by the first quarter of next year.
Libya Oil Comeback Has Legs
Friday, November 27, 2020Libya's oil industry, trampled by civil war and chaos, is roaring back.
OPEC+ Calls Last Minute Talks
Friday, November 27, 2020Saudi Arabia and Russia summoned OPEC+ ministers who oversee their oil production cuts for last-minute talks on Saturday.
Oil Rally Stalls Amid OPEC+ Tensions
Friday, November 27, 2020Brent oil edged lower, but was on track for a fourth weekly gain, amid signs of division among OPEC+ members just days before a key policy meeting.
Mexico Oil Executive Asked to Resign
Thursday, November 26, 2020A director at the trading arm of Mexico's state oil company was asked to resign after authorizing payments under a profit-sharing plan, according to a person familiar with the matter.
OPEC Watchers Expect 3 Month Supply Boost Delay
Thursday, November 26, 2020OPEC and its allies will likely delay a supply increase planned for January by three months, according to a survey of oil analysts, traders and refiners.
Oil Price Comeback Seems Unstoppable
Wednesday, November 25, 2020The oil price comeback seems unstoppable since news of positive vaccine trials arrived.
IEF Condemns Jeddah Attack
Wednesday, November 25, 2020The International Energy Forum has condemned the attack on a fuel tank facility in Jeddah, Saudi Arabia.
Aramco Says No One Hurt in Blast
Tuesday, November 24, 2020Saudi Aramco needed about 40 minutes to put out the fire caused by a missile strike on a fuel depot in the Red Sea city of Jeddah.
Oil Prices Start Week on a Positive Note
Tuesday, November 24, 2020Oil prices started the week on a positive note, capitalizing on recent Covid-19 vaccine news.
Oil Highest Since March on Vaccine and Biden News
Tuesday, November 24, 2020Oil traded at its highest level since March as markets broadly rallied on the start of the U.S. presidential transition process and with the demand outlook strengthening after a string of positive vaccine breakthroughs.
China to Take US Oil Refining Crown
Monday, November 23, 2020America has been top of the refining pack since the start of the oil age in the mid-nineteenth century, but China will dethrone the U.S. as early as next year, according to the International Energy Agency.
Wintershall Dea Sets Net Zero Target
Monday, November 23, 2020Wintershall Dea aims to achieve net zero emissions on its upstream activities by 2030.
Oil Up on US Vaccination Optimism
Monday, November 23, 2020Oil pushed higher after closing at the strongest level since early September as signs that Covid-19 vaccinations in the U.S. could be underway within three weeks improved the demand outlook.
Oil Set for Weekly Gain on Vaccine Optimism
Friday, November 20, 2020Oil is poised for a third weekly gain in New York as positive Covid-19 vaccine developments outweighed concerns about more restrictions stemming from a global surge in infections.
Norway Opens More Arctic Areas to Oil Sector
Friday, November 20, 2020Norway is offering fresh exploration licenses in the far north less than a week after the Supreme Court finished hearing an appeal over earlier Arctic permits.
Petronas Calls for Stronger ET Collaboration
Thursday, November 19, 2020Petronas has called for a stronger collaboration among ASEAN governments, energy players and the public and private sectors.
UAE Escalates OPEC Dispute
Thursday, November 19, 2020The United Arab Emirates ratcheted up tension with oil allies in OPEC+, with officials privately questioning the benefits of being in the producers' alliance.
Oil Steady Amid Virus Measures and OPEC+ Dispute
Thursday, November 19, 2020Oil was steady near a two-month high as investors weighed tighter U.S. restrictions to curb the virus spread and emerging cracks in the united front put up by OPEC+ as it struggles to manage the market.
Oil Up as Stockpile Gain Offset by Stronger Asia Demand
Wednesday, November 18, 2020Oil rose toward $42 a barrel in New York as signs of a robust demand recovery in Asia offset a jump in U.S. crude stockpiles.
British PM Eyes Banning Gasoline and Diesel Car Sales
Monday, November 16, 2020UK Prime Minister Boris Johnson is weighing controversial proposals to ban the sale of new petrol and diesel cars within a decade.
OPEC+ Gets Scant Relief from Vaccine
Monday, November 16, 2020Oil markets may be cheering the prospects of a coronavirus vaccine, but OPEC+ can't celebrate.
Oil Up On China Recovery and US Lockdown News
Monday, November 16, 2020Oil rose on optimism over China's recovery from a virus-led demand crash and as advisers to President-elect Joe Biden ruled out a national lockdown to curb the spread of Covid-19.
Violently Positive Oil Prices and More
Saturday, November 14, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...
Norway Court Decision Could Nix 10 Arctic Licenses
Friday, November 13, 2020Climate activists are trying to drag western Europe's biggest oil producer out of the Arctic.
San Francisco Imposes Natural Gas Ban
Thursday, November 12, 2020California towns and cities remain at the forefront of a push to phase out the use of gas in homes and buildings.
IEA Cuts Oil Demand Outlook
Thursday, November 12, 2020The International Energy Agency cut forecasts for global oil demand amid new lockdown measures and cautioned that the vaccine breakthrough won't quickly revive markets.
Oil Steady Amid Signs OPEC+ Will Keep Cuts
Thursday, November 12, 2020Oil was steady as OPEC+ appeared to be closing in on an agreement to delay a planned easing of production cuts from the start of next year.
Libya Oil Production at 1.1 Million Barrels a Day
Wednesday, November 11, 2020Libya boosted oil output to more than 1.1 million barrels a day, inching closer to the level it was producing before the country's civil war all but shut down its energy industry in January.
EIA Decreases Oil Price Forecasts
Wednesday, November 11, 2020The U.S. Energy Information Administration has reduced its Brent crude and West Texas Intermediate spot price predictions for both 2020 and 2021.
Oil Up After Report Points to Easing US Stockpiles
Wednesday, November 11, 2020Oil extended gains in New York after an industry report pointed to a bigger-than-expected decline in U.S. crude stockpiles.
Armed Pirates Approach Oil Tanker
Tuesday, November 10, 2020Reporting indicates that the Marshall Islands flagged oil tanker M/T Wesley was approached while underway off Bayelsa State.
Oil Prices in Violently Positive Reaction
Tuesday, November 10, 2020Oil prices reacted in a 'violently positive' manner on Monday as the market priced in the possibility of a quicker roll-out of a global vaccine.
Texas Takes Action to Reduce Gas Flaring
Tuesday, November 10, 2020Texas's oil regulator took action to reduce routine natural gas flaring but its efforts fall short of more aggressive measures requested by some investors and major producers.
OGUK Welcomes Furlough Extension
Monday, November 09, 2020Industry body Oil & Gas UK has welcomed the UK Chancellor of the Exchequer's announcement that the furlough scheme will be extended until the end of March next year.
Consequences of a Biden Admin for US Energy
Monday, November 09, 2020A change of federal government would have several consequences for the U.S. energy industry, according to energy research and consultancy company Wood Mackenzie.
Libya Oil Output Hits 1 Million Barrels
Monday, November 09, 2020Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country after civil war all but shut its energy industry.