Crude Oil News

Loud Calls For Global Shipping To Ditch Fossil Fuels And Meet Climate Goals

Loud Calls For Global Shipping To Ditch Fossil Fuels And Meet Climate Goals

Hellenic Shipping News


Oil & Gas 360 Publishers Note: Very interesting article with some nice nuggets. Don’t agree with  many of the view points, but still an interesting article.  

At UN Climate Week this week, calls have increased for shipping …

OKEA - Draugen Operator

OKEA acquires interest in Calypso prospect near Draugen in deal with Neptune Energy

energy-pedia 


OKEA has signed a Sales and Purchase Agreement (SPA) with Neptune Energy Norge for the acquisition of a 30% working interest in PL938. Effective date for the transaction is 1 January 2020. Neptune will remain as operator with …

Daily Energy Market Summary: 360 DCB – 9/25/2020 – Hosted by Michael Tanner

Daily Energy Market Summary: 360 DCB – 9/25/2020 – Hosted by Michael Tanner

Despite all 3 major indices finishing up 1.2% or more, stocks still finish their 4 straight week of loses as the September swoon is in full effect.  House Democrats are preparing a $2.4 trillion relief package that they could vote

BP hits 25-year low a week after unveiling a new climate strategy

BP hits 25-year low a week after unveiling a new climate strategy

Offshore


A week after British oil and gas giant BP announced its plan to transition from mainly an oil operator into a clean-energy giant, the company saw its share price drop to a 25-year low.

BP’s shares in London on …

The 360 Digital Closing Bell Look Ahead–9-25-2020

The 360 Digital Closing Bell Look Ahead–9-25-2020

HAPPY 50th birthday to the show as the team from OAG360 brings you everything that happened in the oil patch for this week.

Heavy international and oil major show (which Michael hates) as Shell shifts to less oil production (following

Source: Reuters

Russia leads China’s August crude imports, Saudi slips

Argus


Beijing, 25 September (Argus) — Russia was the top crude supplier to China for a second straight month in August, as deliveries from Saudi Arabia were hit by rising in prices.

China imported 1.37mn b/d from Russia last month, …

September 25, 2020 - 8:00 am China, Crude Oil News, International
Malampaya with depletion compression platform and bridge; Source: Shell

Shell looks to sell off stake in Philippines gas field

Argus


London, 24 September (Argus) — Shell is looking to sell its 45pc stake in the Philippines’ Malampaya gas field, almost a year after fellow major Chevron sold off its own stake in the field.

The right to extract gas …

Rig Lighting System by CMORE Companies.

Enverus: US oil, gas rig count up 15 on week, biggest gain since downturn

OAG360 Publishers Note: Enverus subscribers (because Enverus is tasked as the data collector for weekly rigs counts from Baker Hughes) se this data weekly on Thursday’s, while non-subscribers see rig counts updating 11 AM MST each Friday

S&P Global

September 25, 2020 - 5:25 am Crude Oil News, Exploration and Production (E&P)
OPEC’s World Oil Outlook to be launched on 8 October 2020

OPEC’s World Oil Outlook to be launched on 8 October 2020

360 Feed Wire


The 2020 OPEC World Oil Outlook (WOO) will be launched via videoconference in Vienna, Austria, on Thursday, 8 October 2020 at 14:00 (CEST).

OPEC’s Secretary General, HE Mohammad Sanusi Barkindo, will present the major findings of the …

Court Rules in Landmark Decision: Federal Tax on Crude Oil Exports Unconstitutional

Court Rules in Landmark Decision: Federal Tax on Crude Oil Exports Unconstitutional

In a federal tax refund case with significant implications for the oil and gas industry…

Daily Energy Market Summary: 360 DCB – 9/24/2020 – Hosted by Michael Tanner

Daily Energy Market Summary: 360 DCB – 9/24/2020 – Hosted by Michael Tanner

Thursday chop back in full force as Dow Jones swings from 300 pts up, 200 pts down (500 pt swing) finishing 40 pts below. The S&P 500 and Nasdaq Composite traded lower by 0.1% each. First-time claims for state unemployment

Contrary to BP’s management Russia’s Gazprom Neft sees oil demand returning to pre-crisis levels in H2 2021-

Contrary to BP’s management Russia’s Gazprom Neft sees oil demand returning to pre-crisis levels in H2 2021-

Energyworld


Oil & Gas 360 Publishers Note: Dyukov’s statements appear to be in direct conflict with BP’s top management’s comments this week. 

“The pandemic hasn’t gone anywhere… but we are sure that there won’t be such a harsh reaction, first …

September 24, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Economy, International
The Safer tanker has been stranded off Yemen's Red Sea oil terminal of Ras Issa for more than five years.

‘Oil Spot’ Reported Near Decaying Tanker off Yemen – Saudi and the world need action now, not after the disaster

MarineLink


Oil & Gas 360 Publishers Note: We have been following this story for some time. The pending disaster will make the Exxon Valdez look like a bathtub ring after a bath. compared to  Safer tanker could be 4 times

September 24, 2020 - 12:15 pm Crude Oil News, ESG, International, Marine Shipping, Special Report
Source: Reuters

Oil steadies as frail demand outlook offsets U.S. stock fall

Reuters


LONDON  – Oil prices steadied on Thursday, as the bullish impact of a fall in U.S. inventories was offset by a stronger dollar and a renewed wave of coronavirus cases in Europe that led several countries to reimpose travel …

Daily Energy Market Summary: 360 DCB – 9/23/2020 – Hosted by Michael Tanner

Daily Energy Market Summary: 360 DCB – 9/23/2020 – Hosted by Michael Tanner

Daily Energy Market Summary: 360 DCB – 9/23/2020

 

September swoon in full effect as the market takes another nose dive, with the Dow Jones finishing 1.3% lower or 367 pts.  S&P 500 was down over 1.5% with Nasdaq finishing

Source: Reuters

Oil edges up to $42, eyeing Libya and U.S. inventories

Reuters


LONDON – Oil edged up to around $42 a barrel on Wednesday, supported by rising investor risk appetite and a report that U.S. fuel inventories fell, although rising crude supply and concern of stalling demand capped gains.

European equities …

September 23, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

U.S. crude oil inventories decrease by 1.6 million barrels

Weekly Crude Oil Storage as of September 18, 2020

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.6 million barrels from the previous week. At 494.4 million barrels, U.S. crude oil …

India tops up strategic reserves with cheaper crude, saves over $685M

India tops up strategic reserves with cheaper crude, saves over $685M

Energyworld


It bought crude oil at an average price of $19 per barrel to fill its reserves in April and May when prices reached an all-time low while the US oil touched negative price levels in futures market.

New Delhi: …

September 23, 2020 - 8:00 am Crude Oil News, Crude Oil Storage, International
Daily Energy Market Summary: 360 DCB – 9/22/2020 – Hosted by Michael Tanner

Daily Energy Market Summary: 360 DCB – 9/22/2020 – Hosted by Michael Tanner

Equities markets finished positive after Fed Chair Powell reiterated his stance to support the US economy. These gains on the broad markets snap a 4 session losing streak. Oil and Gas News Today What happened to crude oil today? Prices

Source: Reuters

U.S. drivers’ mileage in July falls to lowest for the month since 2012: Department of Transportation

Reuters


U.S. motorists drove 11% fewer miles in July than a year ago as drivers stayed home due to the coronavirus pandemic, the U.S. Department of Transportation (DOT) said Tuesday in a monthly report.

U.S. drivers covered 262.4 billion vehicle …

September 22, 2020 - 11:30 am Closing Bell Story‎, Crude Oil News, Transportation
Source: Reuters

Oil rises on expectations demand can survive new lockdowns

Reuters


LONDON  – Oil prices rose on Tuesday as analysts took the view that renewed lockdown restrictions would have only a limited impact on fuel demand, partly reversing a steep drop in prices the previous day.

Brent crude LCOc1 was …

September 22, 2020 - 10:30 am Closing Bell Story‎, Commodity Pricing, Crude Oil News, Energy News
BP terminates Deepsea Aberdeen contract

BP terminates Deepsea Aberdeen contract

Offshore Technology 


Oil & Gas Publishers Note: This contract termination falls right in line with BP’s plans to morph into a renewable energy company. We covered this on our “BP Week Podcast Series”. This change is also being followed by

Source: Reuters

OPEC watching Libyan oil restart closely, needs time to assess: sources

Energyworld


Oil & Gas 360 Publishers Note: As OPEC is having difficulty keeping all of it’s members within agreed production levels, the new developments are a catalyst to review the OPEC’s memberships and partnerships. Should be interesting to follow as

Daily Energy Market Summary: 360 DCB – 9/21/2020 – Hosted by Michael Tanner

Daily Energy Market Summary: 360 DCB – 9/21/2020 – Hosted by Michael Tanner


 

Huge market selloff to begin the week as the Dow Jones dropped 843 points, or 3.1%. The S&P 500 lost 2.5% while the Nasdaq Composite fell 1.6%.  Stock fell on worse than expected COVID-19 optimism and uncertainty on any

Source: CNBC

Oil prices slip on potential Libyan output return, demand concerns

CNBC


Oil prices fell on Monday, weakened by the possible return of Libyan production and as rising coronavirus cases stoked worries about global demand, although the market drew support as a tropical storm threatened to disrupt output in the U.S. …

Source: Reuters

Oil refiners worldwide struggle with weak demand, inventory glut

Reuters


NEW YORK/LONDON/MELBOURNE- Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery …

September 21, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

Bids for Exxon UK’s oil and gas fields due on October 28: sources

Reuters


Bids for a portfolio of Exxon Mobil’s XOM.N British North Sea oil and gas fields, which is expected to fetch around $1 billion following this year’s oil price weakness, are due on Oct. 28, two sources with knowledge of …

Shell launches major cost-cutting drive to prepare for energy transition

Shell launches major cost-cutting drive to prepare for energy transition

Reuters


Oil & Gas 360 Publishers Note: With ENI, BP and Shell migrating away from fossil fuels and on to renewables, the question is now being asked: “What will happen to the consumers on all products made with fossil fuels?

Oando to project Nigeria’s gas potentials, as AOW focuses on regional energy opportunities

Oando to project Nigeria’s gas potentials, as AOW focuses on regional energy opportunities

EnergyMix


Nigeria’s Oando Energy Resources, will be projecting the country’s vast gas potentials and attractive opportunities open to investors as the Africa Oil Week, AOW, gathers regional and international stakeholders.

Already, private investors and key government functionaries across Africa, are …

September 20, 2020 - 10:00 am Crude Oil News, International, Natural Gas News
Prince Abdulaziz bin Salman

Saudi energy minister presses OPEC+ members on fulfilling oil cuts pledge

Energy Mix Report


Saudi energy minister Prince Abdulaziz bin Salman delivered yet another warning to OPEC+ compliance laggards, saying at a Sept. 17 monitoring committee meeting that failing to execute pledged production cuts was undermining the alliance’s efforts to rebalance …

September 20, 2020 - 9:33 am Crude Oil News, International, OPEC