Oil Prices News

 

China Issues More Crude Oil Import Quotas

Oct 22, 2019

China has lifted its crude oil import quotas to allow mostly private refiners to bring in a further 12.9 million tonnes this year, a document seen by Reuters showed on Tuesday, feeding a new generation of huge refineries.The third batch of quotas was allocated to 19 companies, including private refiner Zhejiang Petroleum & Chemical Co (ZPC), which was awarded 3.5 million tonnes, the document showed…

Asian Producers to Boost Winter Gas Supply

Oct 22, 2019

China Petroleum & Chemical Corp, known as Sinopec, said it has secured 8.81 billion cubic metres (bcm) of natural gas for northern China for the upcoming winter heating season, state-owned Xinhua News Agency reported on Tuesday.That was up 15…

Tankers Unable to Offload in Malaysian Port

Oct 22, 2019

Refineries at Port Dickson on Peninsular Malaysia's west coast are unable to receive crude oil after a port facility that carries crude from the ships to the plants broke down.A system known as a single point mooring (SPM) unit, a loading buoy…

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…

Temasek Bids $3 Bln for Control of Keppel

Oct 21, 2019

Singapore state investor Temasek Holdings is offering to buy control of conglomerate Keppel Corp in a S$4.1 billion ($3 billion) deal that could hasten a consolidation in the rig building sector which is battling the effects of low oil prices…

Jadestone Submits FDP for Vietnam Gas Fields

Oct 21, 2019

Independent oil and gas company Jadestone Energy said it has formally submitted the field development plan (FDP) for its Nam Du and U Minh gas fields, offshore southwestern Vietnam, to Vietnam Oil and Gas Group (Petrovietnam), targeting first production in late 2021…

Reliance Reaps Record Profit

Oct 18, 2019

Indian oil-to-telecoms conglomerate Reliance Industries said strong growth in its consumer-facing businesses lifted second quarter net profit by 18.3% year-on-year to a record total.Consolidated net profit rose to 112.62 billion Indian rupees ($1…

Schlumberger Profit Beats Estimates

Oct 18, 2019

Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America…

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…

Eni CEO: No Future for Firms Working in Just O&G

Oct 18, 2019

There is no future for companies that work only in oil and gas in the medium- to long-term, the head of Italian major Eni said on Friday.'Diversification into renewable energy and the circular economy is crucial,' Claudio Descalzi told financial daily Il Sole 24 Ore in an interview…

Baker Hughes Finalizes Name Change

Oct 17, 2019

Baker Hughes has officially dropped GE from its name after the industrial conglomerate shed majority ownership in the oilfield services company in September.Formerly Baker Hughes, a GE company, the firm will now be known as Baker Hughes, and…

Woodside Targets Scarborough FID in Early 2020

Oct 17, 2019

Woodside Petroleum Ltd has pushed out the final approval date for its mammoth Browse gas project but slightly brought forward plans to sign off on its smaller Scarborough project as it races to fill an anticipated global supply gap.Woodside…

Small Scale FSRU: Think Smarter Not Bigger

Oct 15, 2019

The global search for lower carbon forms of energy and demand for cost-effective ways to serve power demand in emerging markets and remote locations is driving interest in floating storage and regasification units (FSRU).FSRUs are a faster and…

Airswift Eyes APAC Growth

Oct 10, 2019

Airswift, the global workforce solutions provider for the energy, process and infrastructure sectors, announced two senior hires to build upon recent successes in the Asia Pacific (APAC) region. Fueled by the region’s energy and infrastructure markets…

Current News

China Issues More Crude Oil Import Quotas

China Issues More Crude Oil Import Quotas

Fugro Enters the South Korean Offshore Wind

Fugro Enters the South Korean Offshore Wind

Asian Producers to Boost Winter Gas Supply

Asian Producers to Boost Winter Gas Supply

Tankers Unable to Offload in Malaysian Port

Tankers Unable to Offload in Malaysian Port

India's Oil Imports at 3-year Low

India's Oil Imports at 3-year Low

Shell Exits Two Kazakh Offshore Projects

Shell Exits Two Kazakh Offshore Projects

Temasek Bids $3 Bln for Control of Keppel

Temasek Bids $3 Bln for Control of Keppel

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