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Asian Oil News - page 3

 

US Crude Futures Plunge to Lowest on Record

Apr 20, 2020

U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.Brent crude, the international benchmark…

Singapore Oil Trader Hin Leong Meets Banks over Finances

Apr 15, 2020

Singapore oil trader Hin Leong held a call with banks on Tuesday after they failed to provide a letter of credit to the firm to purchase at least one cargo of oil products due to load this month, four sources said.The coronavirus pandemic has…

Oil Price Drops to $28 as Supply Cuts Not Enough

Apr 15, 2020

Oil fell 5% to around $28 a barrel on Wednesday, pressured by reports suggesting persistent oversupply and collapsing demand due to global coronavirus-related lockdowns.The International Energy Agency (IEA) on Wednesday forecast a 29 million…

Coronavirus? What coronavirus? China's Commodity Imports Remain Robust

Apr 14, 2020

The new coronavirus caused barely a blip in China's imports of major commodities, but this likely underscores the ways China differs from the rest of the world, rather than providing a template for the globe's recovery from the pandemic.China's crude oil imports in March…

Pertamina Q1 Oil Output Slightly Below Target

Apr 06, 2020

Indonesia's state oil and gas company PT Pertamina produced 421,000 barrels of crude oil per day and 2,887 million cubic feet of gas per day (mmscfd) in the first quarter of 2020, it said in a statement on Monday.'Amid work and personnel adjustment due to the COVID-19 pandemic…

China's Top Refiners to Hike Output 10% in April

Apr 03, 2020

China's top fuel producers are set to raise April crude throughput by a combined 755,000 barrels per day (bpd), or 10% from March, as domestic fuel demand picks up after being hammered by the coronavirus outbreak. The increase, calculated by Reuters based on interviews with six industry sources…

Update: Brent Oil Rises above $32 on Hopes of Output Deal

Apr 03, 2020

Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.Brent crude futures were up 9.3%, or $2.79, at $32.73 a barrel by 1014 GMT. Brent soared as much as 47%…

Brazil: FPSO Charter Ends 5 Years after Deadly Explosion

Mar 30, 2020

FPSO leasing company BW Offshore has informed that a charter for FPSO Cidade de Sao Mateus has expired. The FPSO was involved in an explosion in February 2015, an incident in which nine workers were killed, and 26 others injured. There were…

New Oil and Gas Project Spending to Fall 68% in 2020 if Oil Price Stays Low

Mar 24, 2020

Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday.'The effect of the COVID-19 virus on global demand for oil and gas…

Oil Facing Prolonged Period of Demand Destruction

Mar 20, 2020

Oil prices rose on Friday as the world's richest nations poured unprecedented aid into the global economy to stop a coronavirus-driven recession and U.S. President Donald Trump hinted he may intervene in the price war between Saudi Arabia and Russia…

Oil Prices Bounce, But Gains Only Temporary, Analysts Say

Mar 19, 2020

Oil prices bounced nearly 7% on Thursday after a three-day selloff drove them to their lowest in almost two decades as demand plummeted due to the coronavirus and supplies surged in a fight for market share between Russia and Saudi Arabia.Benchmark Brent…

WTI Oil Price Hits 17-Year Low, Brent Goes Below $28

Mar 18, 2020

Oil prices fell for the third session on Wednesday with U.S. crude futures tumbling to a 17-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand.U.S. crude was down $1.49 cents, or 5.53%…

Oil Price Crash - Where Does Asia Go from Here?

Mar 17, 2020

Energy companies across the Asia Pacific responding to unprecedented challenges on multiple fronts 2020 has hit us like a fist. Coronavirus is already the most severe shock to hit the world economy since the financial crisis over a decade ago…

CNOOC Makes Large Discovery in Bohai Bay

Mar 16, 2020

China's CNOOC Ltd said on Monday that it made a large-sized discovery in Bohai Bay offshore China.Located in the Laizhou Bay in southern Bohai basin, the Kenli 6-1 discovery  is expected to produce around 1,178 barrels of oil per day, the company said in a statement…

Oil Prices Set for Biggest Weekly Drop Since 2008

Mar 13, 2020

Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite a 7% bounce on Friday, as the coronavirus outbreak threatened demand and crude producers promised more supply.Brent crude was up $2.50, or 7.3% on the day…

Current News

KrisEnergy Charters Jack-Up Rig for Apsara Drilling. Platform to Sail Away Soon

KrisEnergy Charters Jack-Up Rig for Apsara Drilling. Platform to Sail Away Soon

Malaysia's KNM to Deliver Equipment for SBM Offshore FPSO

Malaysia's KNM to Deliver Equipment for SBM Offshore FPSO

Fugro Charters CSV Southern Ocean for Work in Australia

Fugro Charters CSV Southern Ocean for Work in Australia

Shell to Shut Down Philippine Refinery and Turn It into Import Terminal

Shell to Shut Down Philippine Refinery and Turn It into Import Terminal

AqualisBraemar to Oversee Construction of Offshore Wind Vessels in China

AqualisBraemar to Oversee Construction of Offshore Wind Vessels in China

OPEC Downgrades Oil Demand Forecast

OPEC Downgrades Oil Demand Forecast

Orsted Looking to Farm Down Stake in Borssele 1 & 2 Offshore Wind Project

Orsted Looking to Farm Down Stake in Borssele 1 & 2 Offshore Wind Project

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