All news

Moscow. Rusneftekhim (Rusneftekhim Oil Company JSC) increases its license fund in the YANAA. Rusneftekhim has acquired five license blocks located in the Shuryshkarsky district of the Yamalo-Nenets Autonomous Area. The licensed blocks - Ilyagortsky, Mategansky, Ust-Kunovatsky, ...

Nur-Sultan. A meeting of the OPEC + Joint Monitoring Committee was held on July 15, this was reported by the press service of the Ministry of Energy of the Republic of Kazakhstan. Earlier, the OPEC + countries reached an agreement on a collective reduction in oil production by 9. 7 ...

Ankara. Turkish households had the second-cheapest natural gas in Europe in July, paying almost three times less than its European Union counterparts, official data showed, Trend reports citing Daily Sabah. According to the European statistics agency Eurostat and Energy Price ...

Abu Dhabi. Abu Dhabi is seeking to create a national champion in oil services by merging National Petroleum Construction Co. and local rival National Marine Dredging Company PJSC. NMDC shares rose 14% in Abu Dhabi on Sunday to 5 dirhams, their highest since March 2017, after NPCC’s ...

Washington. Chaparral Energy Inc. filed for bankruptcy protection for the second time in four years, another financial reckoning for one of the many cash-starved shale drillers punished by sluggish oil prices. The company filed for Chapter 11 in U. S. Bankruptcy Court in Delaware. It ...

Singapore. Oil prices climbed higher on Monday, lifted by China’s plans to ship in large volumes of U. S. crude in August and September, outweighing concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies. Brent crude rose 21 cents, or 0. ...

Washington. Iranian fuel cargoes targeted by a U. S. warrant for seizure were transferred to other ships for transporting to U. S. waters, a U. S. government source said on Thursday. A U. S. judge issued a warrant to seize Iranian gasoline cargoes on four tankers in July after U. S ...

Caracas. Venezuela’s long-suffering oil industry is ramping up exports even as production continues its inexorable slide. Exports of crude oil, the commodity that bankrolls the regime of President Nicolas Maduro, are set to reach a four-month high of at least 325, 000 barrels a day ...

Minsk. Belarusian oil refineries intend to process at least 16-16. 5 million tonnes of oil in 2020. Alternative oil will account for at least 10% of the volume, BelTA learned from Chairman of the Belarusian state petrochemical concern Belneftekhim Andrei Rybakov after a government conference ...

Moscow. Compliance with the crude production cut agreement by OPEC+ countries went down in July to 89% of the planned volume from 108% in June due to growth of output in certain OPEC states, whereas Russia’s compliance turned out higher than that of the United Arab Emirates and Iraq, for ...

Tokyo. Oil prices advanced on Friday and were heading for a second week of gains amid growing confidence that demand for fuel is starting to pick up despite the coronavirus pandemic that has slammed economies worldwide. Brent crude LCOc1 was up 14 cents, or 0. 3%, at $45. 10 by 0043 GMT, ...

Dhahran. Saudi Arabia's state oil company plans to cut capital expenditure to $25 billion or less next year, about half the amount it was originally planning. According to people familiar with the matter. Saudi Aramco may keep capex, most of which is spent on exploration and ...

Manila. Pilipinas Shell Petroleum Corp said on Thursday it will permanently shut down operations at its Tabangao refinery, blaming a slump in margins for what appears to be one of the first casualties of the pandemic among refiners in Asia. The 110, 000-barrel-per-day Tabangao facility in ...

Moscow. Opec's latest Monthly Oil Market Report (MOMR) expects oil demand to decrease by 9. 1mn b/d to 90. 6mn b/d this year, down by 100, 000 b/d from last month's projection, Report says. The downward revision reflects weaker-than-expected demand in the second quarter from some ...

Moskow. Rosneft will double year-on-year the handling of oil products, due to be supplied to northern regions, at the terminal in Arkhangelsk, the company said. "After the upgrade of Rosneft’s terminal in Arkhangelsk, the company will handle 110, 000 tonnes for the ...

Tokyo. Crude oil prices eased slightly on Thursday but held most of their gains from the previous session after U. S. government data showed a fall in inventories, supporting the view that fuel demand is returning despite the coronavirus pandemic. Brent crude LCOc1 was down 8 cents at $45. ...

Baku. The design of the upper block for the Azerbaijan's Karabakh field is being developed, General Director of the Karabakh Operating Company Tahir Dadashov said, Trend reports. Dadashov added that the design work is carried out by Wood company. "The work is in full swing. ...

Gomel. Drilling crews of the Belarusian industrial group Belorusneft built four wellbores in July, the company's press service told BelTA. The Svetlogorsk drilling department did the work. All the wells but one are over 3km deep. The exception is 2, 880m deep. Going as deep as 3, ...