Lukoil: Deepwater Senegal from Cairn Energy acquired
MOSCOW - PJSC LUKOIL concluded an agreement with Cairn Energy PLC to acquire a 40% interest in RSSD (Rufisque, Sangomar and Sangomar Deep) project in the Republic of Senegal for…
Oil Rally Halts From Large And Unexpected Crude Build
The American Petroleum Institute (API) estimated on Tuesday a build in crude oil inventories of 7.544 million barrels for the week ending July 17. Bulls were disappointed with the news,…
Saudi Arabia Use Large Crude Oil Volumes For Electricity
Saudi Arabia could use this summer record amounts of crude oil for producing electricity as more Saudis would stay at home rather than travel on vacation abroad because of the…
Significant Recovery In Crude Oil Demand
Global oil demand will recover significantly next month, climbing to be within 10% of the level that the world saw prior to the coronavirus pandemic, Russia Energy Minister Alexander Novak said on…
India May Store Its Crude In The U.S
India may store some of its crude oil in the United States, the Hindustan Times reports, citing unnamed sources in the know. “The proposal to store oil in the US is…
OPEC+ : Oil production raised without decrease in prices
LONDON (Bloomberg) --OPEC+ is confident that it can start easing deep production cuts next month without hurting the rally in oil prices. The group will proceed with its plan to…
OPEC+ plans to restore crude production, stalls oil prices
SINGAPORE (Bloomberg) --Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges…
Port blockade drags on, Libyan oil exports drop
CAIRO (Bloomberg) --Libya will export two oil cargoes totaling 1.2 million barrels in July -- a third less than in June -- as forces opposed to the Tripoli-based government continue…
As Price Soars, Europe Avoids Russia Crude Oil
European refiners are shunning Russia’s flagship crude grade Urals, which is now more expensive than Brent Crude after Russia cut its exports as part of the OPEC+ agreement, oil traders…
China: Demand for American crude slows
NEW YORK (Bloomberg) --A second wave of Covid-19 infections in China’s capital is threatening to depress the nation’s appetite for American oil just after a pick-up in purchases. Signs of…