OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil production cuts by one month while raising pressure on countries with poor compliance to deepen their output cuts, OPEC+ sources told Reuters…
London AIM-listed oil and gas explorer Empyrean Energy has been given more time to drill a well in its 29/11 offshore block in China.Empyrean said Wednesday that, due to the COVID-19 pandemic and the resultant global control policies, it engaged…
Oil rose on Wednesday, with Brent above $40 for the first time since March, as optimism mounted that major producers will extend output cuts and a recovery from the coronavirus pandemic will spur fuel demand.Brent crude futures for August were up 78 cents…
Siemens Gas and Power has been awarded a contract to supply gas turbine generators, gas turbines and centrifugal compressors for the Petronas' Kasawari gas field development project offshore Sarawak in Malaysia. The order was made by Malaysia…
Japan's Kawasaki Heavy Industries (KHI) has ordered the first commercial unit of a new Corvus Energy high-density lithium-ion capacitor energy storage system (ESS) Blue Marlin.According to Corvus, which plans to market the system to the offshore energy market…
China's state planner has given initial approval for a $20 billion refinery and petrochemical project to be built in Shandong province, the country's hub for independent oil refineries, said two persons with knowledge of the matter.China's National…
Oil prices rose on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a virtual meeting expected later this week.Brent crude futures rose 0.91%, or 35 cents, to $38.67 a barrel as of 0427 GMT…
Qatari state-owned oil and gas company Qatar Petroleum has entered into what it says 'are the largest LNG shipbuilding agreements in history to secure more than 100 ships valued in excess of QR 70 billion [USD19,2 billion] to cater for its LNG growth plans…
ONGC has moved 33 offshore jack-up rigs to new drilling locations ahead of the adverse weather conditions associated with the Indian monsoon season. According to AqualisBraemar, which assisted with ONGC’s rig moves, said the operation was completed…
Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea, and a worsening in U.S.- China relations, but were still on track for a hefty monthly gain.July Brent crude fell 72 cents…
Gastech, one of the world's largest gas, LNG and energy industries events has been postponed for 2021 due to the COVID-19 pandemic.The event was expected to take place in Singapore in September this year, however, the organizers have now decided to delay the event to September 13 to 16…
Siemens Gas and Power will supply a range of compression and power generation equipment for the Petramina's Balikpapan Refinery located on Borneo Island in East Kalimantan, Indonesia.The equipment will be installed as part of Pertamina’s Refinery Development Master Plan (RDMP)…
China's low-sulphur marine fuel exports rose by a third in April compared with March to the highest level yet after it waived export taxes for domestic refiners to meet shipping demand, Chinese customs data showed.Chinese refiners began exporting…
Kazakhstan has no plans to shut down oil production at its biggest oilfield, Tengiz, despite the novel coronavirus outbreak among its workers, the Central Asian nation's energy minister said on Wednesday.Kazakhstan's chief sanitary doctor said last week the field's operator…
Japanese refineries may be forced to shut down capacity once again unless they see a strong recovery from the coronavirus pandemic. They've been hit by declining use for fuel at home, competition from newer refineries in China and South Korea dominating in other markets…
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