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Oil Consumption Tracking is All About Asia

Dec 12, 2019

Oil market analysts must make sense of a bewildering array of statistics about production, consumption and inventories, compiled and published with varying definitions and degrees of accuracy and timeliness.The challenge is to form an accurate and nuanced picture of the whole market capable of generating useful forecasts, without becoming lost in the insignificant details.The World Bank identifies around 200 economies in the world…

Petronas Quarterly Profit Halves

Nov 26, 2019

Malaysia's state energy firm Petroliam Nasional Bhd said on Tuesday its third-quarter profit nearly halved due to lower demand and impairment charges, and warned of further risks to demand.Profit for the July-September period at Petronas, as the company is better known…

Thunder Cranes Wins Chevron Contract

Nov 20, 2019

The Thunder Cranes Group said it has secured a contract to support Chevron on a three-year plug and abandonment project in the Gulf of Thailand that will include some 3,000 wells.The multimillion-dollar contract will see Thunder Cranes add a further three brand new TC90XL cranes to its fleet…

India to Invite Foreign Investment in State-owned Oil Companies

Nov 12, 2019

International energy firms will be invited to participate in India's privatization of state-owned oil companies, the country's Oil Minister Dharmendra Pradhan said late on Monday.Pradhan said Indian Prime Minister Narendra Modi recently met with the chief executives of energy firms in Houston…

Russian Oil Output Down in October

Nov 03, 2019

Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.The Organization of the Petroleum Exporting Countries…

Pertamina, Aramco Extend Cilacap Refinery Talks

Oct 29, 2019

Indonesia's PT Pertamina and Saudi Aramco have extended negotiations regarding an upgrade to Pertamina's Cilacap oil refinery December, State-Owned Enterprise Minister Erick Thohir said on Tuesday.The two sides have extended their negotiations…

Oil Steady as Russia Commits to Output Cuts

Oct 28, 2019

Oil prices were steady on Monday, holding on to strong gains last week, after Russia affirmed its commitment to a deal with OPEC producers to keep production in check and support prices.Brent crude was down 1 cent at $62.01 a barrel by 0055 GMT…

Saudi Still China's Top Oil Supplier

Oct 25, 2019

Saudi Arabia held its position as China's largest crude oil supplier in September helped by demand from new refineries and as imports from Iran and Venezuela continued to fall due to U.S. sanctions, customs data showed on Friday.The drone and…

India Hopes Saudis Will Help Build Oil Stores

Oct 24, 2019

India hopes to sign a pact with Saudi Arabia for participation in Delhi's strategic petroleum reserves (SPRs) during Prime Minister Narendra Modi's visit to the kingdom next week, a government official said on Thursday.India, the world's third biggest oil importer…

India's Oil Imports at 3-year Low

Oct 22, 2019

India's oil imports fell to their lowest in more than three years in September to 3.82 million barrels per day (bpd), data obtained from industry and shipping sources showed, as some refiners cut purchases due to shutdowns for maintenance and fuel upgrades…

China Crude Runs Hit Record High

Oct 18, 2019

China's crude oil throughput rose 9.4% in September from a year earlier to its highest level on record, official data showed on Friday, led by increases from new refineries and as some independent plants returned from maintenance.Refinery runs hit 56…

Total Says Geopolitics Hurting Crude Supply

Oct 18, 2019

Oil markets have lost 2 million barrels per day (bpd) of crude supply this year due to geopolitical issues, a senior executive at French oil and energy group Total said on Friday at a conference.The geopolitical issues that led to the crude supply loss include U…

Saudi Aramco Pursues IPO Planning Despite Attack

Sep 17, 2019

Saudi Aramco is pressing ahead with its listing plans this week, although some investors and analysts doubt it can now meet its timeline as it has not said when oil output will be restored after attacks on its facilitiesReuters has reported it could take months for Aramco…

Middle East Risks Keep Oil Prices High

Sep 17, 2019

Oil lost some of its big price rises today as the US announced the possible release of crude reserves but the possibility of military action in response to the drone attacks on Saudi oil facilities still means prices are high and that stocks are under pressure…

Oil Price Spike after Saudi Attack Temporary

Sep 16, 2019

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million barrels per day (bpd) of crude production, which equates to 7% of the current global crude and condensate production…

Current News

Yothaka East-2 Sidetrack Disappoints

Yothaka East-2 Sidetrack Disappoints

Geoscience Packages Reveal APAC Prospectivity

Geoscience Packages Reveal APAC Prospectivity

Oil Consumption Tracking is All About Asia

Oil Consumption Tracking is All About Asia

Rocsole Taps Tienhaara as CEO

Rocsole Taps Tienhaara as CEO

Malaysian State Open to Buying Petronas Stake

Malaysian State Open to Buying Petronas Stake

First Steel Cut for Cambodia Apsara Platform

First Steel Cut for Cambodia Apsara Platform

Russia Expecting Oil Output Bump

Russia Expecting Oil Output Bump

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