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Production Crude Handling Agreement for Ugo-Ocha Offshore Terminal
Nigeria >> 2/11/2019 - Sirius Petroleum, the Nigeria-focused oil and gas development and production company, is pleased to announce that it has entered into a Crude Handling Agreement (“CHA”), in line with the Company’s com...
Oil Price Swings & Trump's Sanctions
Austria >> 2/6/2019 - During just six months crude oil prices ripped higher by about 20 percent, plunged more than 40 percent and snapped back 25 percent, an intense volatility that analysts warn could be the new normal in...
USA’s Sanctions Against Venezuela Make a New Strike
Venezuela >> 1/30/2019 - Oil prices rose on Jan. 29 after Washington imposed sanctions on state-owned Venezuelan oil company PDVSA in a move likely to curb the OPEC member’s crude exports, but gains were capped by abundant su...
Saudi's Falih Sees No Impact on Oil Markets from Venezuela Turmoil
Saudi Arabia >> 1/28/2019 - Political turmoil in Venezuela has so far had zero impact on global oil markets, Russia’s RIA news agency cited Saudi Arabia’s Energy Minister Khalid al-Falih as saying. ...
Iraq to Sign MOU to Supply Jordan with Oil
Iraq >> 1/28/2019 - Iraqi Oil Minister Thamir al-Ghadhban said that Iraq will supply neighboring Jordan with oil in accordance with a memorandum of understanding (MOU) to be signed after the approval of both governments....
Rouhani Says US would Fail to Prevent Iran Oil Exports
Iran >> 1/2/2019 - Iranian President Hassan Rouhani said the US would not reach its goals to prevent Iran’s oil exports. Addressing the government cabinet meeting on Wednesday, Rouhani described the current economic act...
Shell Obtains License to Independently Trade Oil Products in Chinese Wholesale Market
China >> 1/2/2019 - Royal Dutch Shell's (RDS.A, RDS.B) Chinese unit has obtained a license to independently trade oil products on the domestic wholesale oil market, S&P Global Platts reported. The license is the first th...
Iraq's Kirkuk Oil Exports to Stay Restricted
Iraq >> 12/26/2018 - Exports from Iraq’s northern Kirkuk oilfields to the Turkish port of Ceyhan will stay at between 80-90,000 barrels per day (bpd) as most of the crude produced is being diverted to feed refineries in t...
Total Poised to Start Exports from Big New Oil Field in Nigeria
Nigeria >> 12/20/2018 - Total SA is poised to start exports of crude from a major new offshore field in Nigeria, adding to global supplies at a time when oil prices are plunging. ...
Russia's Lukoil Buys First Iraqi Kirkuk Crude since Flows Resume
Iraq >> 12/12/2018 - The first cargo of Iraqi Kirkuk crude to change hands since flows resumed last month has been sold to Litasco, the Swiss-based trading arm of Russian oil producer Lukoil, ship-tracking data and a ship...
Iraqi Oil Minister Expects Prices to Rise Over Time
Iraq >> 12/10/2018 - Iraqi Oil Minister Thamer Ghadhban said he expected the fall in oil prices to stop and for prices to rise over time, adding that if OPEC had not cut production, prices would have dropped to $45-50 per...
Saudi & Russia Leave World Guessing After OPEC Meeting
Russia >> 12/6/2018 - OPEC has tentatively agreed on oil output reduction but is reportedly waiting for Russia to declare its commitment before deciding the exact volumes for a cut aimed at propping up crude prices. ...
OPEC Players Frustrated with Saudis, Russia
Iran >> 12/5/2018 - Iran says Qatar’s decision to quit the Organization of the Petroleum Exporting Countries (OPEC) shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel that deter...
Will OPEC Reduce Production in December Meeting?
Will OPEC Reduce Production in December Meeting? Austria >> 12/4/2018 - Oil prices fell to their lowest level during a volatile session by signs of oversupply amid bleak economic prospects. The drop came despite market expectations that the Organization of the Petroleum E...
Qatar to Withdraw from OPEC in January 2019
Qatar to Withdraw from OPEC in January 2019 Qatar >> 12/3/2018 - The OPEC Secretary General, His Excellency Mohammad Sanusi Barkindo, has today received a letter from the State of Qatar giving notice of its intention to withdraw from its Membership of OPEC, pursuan...
OPEC Agrees to Cut Output by 1.2m Barrels a Day
Austria >> 12/1/2018 - OPEC and its oil-producing allies reached an agreement to cut production by 1.2m barrels a day. The deal was hammered out at the OPEC Secretariat in Vienna. The 1.2m b/d cut will be split 800,000 b/d ...
Kuwait Renews Gas Oil Supply Contract with Lebanon
Kuwait >> 11/29/2018 - Kuwait Petroleum Corporation has renewed its contract with Lebanon’s energy ministry to supply Lebanon’s state electricity company with gas oil for a year at international market prices, Kuwait News A...
Rosneft & ChemChina Sign an Oil Supply Contract
Russia >> 11/29/2018 - Rosneft and China National Chemical Corporation (ChemChina) signed an oil supply contract during the first Russian-Chinese Energy Business Forum. The contract provides for supplies of ESPO crude in th...
PetroChina Agrees 2019 Annual Crude Supply Deals with Saudi Aramco, Kuwait
Saudi Arabia >> 11/7/2018 - Chinese oil major PetroChina inked 2019 annual crude supply deals with state-owned producers Saudi Aramco and Kuwait Petroleum Corp on Wednesday at a public signing ceremony during the China Internati...
Iran Sets up Selling Oil via its Energy Bourse
Iran >> 10/29/2018 - Iran has started direct sales of oil to domestic and international buyers through its energy bourse in what appears to be a landmark strategy to dodge the impacts of returning sanctions. Buyers were a...

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