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Algeria's oil firm Sonatrach may post $10B revenue loss
- Sonatrach's exports decline by 41% in September, says country's energy ministry
OPEC+ reiterates full commitment to output cut deal
- OPEC+ countries compensate 249,000 barrels per day in total to make up for previously overproduced volumes, committee says
Short-term oil outlook recovery persists despite risks
- Blend of bearish factors on both supply and demand side continue to threaten oil markets despite short-term recovery: Study
Oil prices down over China’s lackluster economic growth
- Uncertainties over oil demand especially in aviation sector continue to weigh on markets, analysts say
Brent oil price up 0.70% for week ending Oct. 16
- OPEC, IMF, Fitch Ratings and IEA release outlooks on future of oil with pessimistic views for 2020, slight recovery in 2021
US crude oil inventories fall in week ending Oct. 9
- Commercial crude oil stocks decrease by 3.8 million barrels compared to market forecast of around 2.8 million-barrel draw
Oil prices down over negative demand projections
- Strong dollar is exerting oil price pressure, making them more expensive for other currency holders
Asia’s power production to be renewable-reliant by 2050
- Electricity generation will more than double in Asia due to economic growth and rising incomes, says US Energy Info. Admin.
Oil prices down over market uncertainty
- Investors worry about demand as France starts imposing night curfews to stem spread of virus
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Total, Google Cloud join forces for Solar Mapper tool
- Via new AI algorithms, Solar Mapper allows fast and accurate estimates of household solar potential
Sept. global oil supply down as UAE reduces output: IEA
- Global oil demand will fall by 8.4 million barrels per day in 2020, but recover by 5.5 million barrels per day in 2021: IEA
Oil prices down over weak demand concerns
- COVID-19’s uncertainties over contact-intensive sub-sectors - travel, transportation & tourism will continue in 2021: OPEC
Spot market natural gas prices for Monday, Oct. 12
- 1,000 cubic meters of natural gas on spot market costs 1,310 Turkish liras
Global oil production decreases in September 2020
- Oil demand worldwide is estimated to increase by 7.25% to average 96.84 million barrels per day in 2021
Iraqi oil minister proposes setup of oil firm for KRG
- Proposed company will technically and administratively be linked to region and Iraqi oil ministry, minister says
Oil prices up on hopes boosted for COVID-19 vaccines
- Further price rises capped by oversupply concerns as demand recovery fails due to increasing pandemic cases worldwide
3rd Turkish drillship leaves Mersin bound for Black Sea
-Kanuni is scheduled to arrive at Istanbul’s Haydarpasa Port before sailing for drilling mission in Black Sea
Spot market electricity prices for Sunday, Oct. 11
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 138.2 million Turkish liras
Spot market natural gas prices for Friday, Oct. 9
- 1,000 cubic meters of natural gas on spot market costs 1,307 Turkish liras
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Turkey's daily power consumption down 2.31% on Oct. 9
- Electricity exports amount to 11,237 megawatt-hours while imports reach 760 megawatt-hours
US oil rig count rises by four for week ending Oct. 9
- Number of oil rigs in US declined by a total of 519 from year ago
EU votes in favor of 60% emissions cut by 2030
- Members of the European Parliament also urge for interim 2040 target to ensure EU is on track for carbon neutrality by 2050
Oil prices down on conclusive signs in strike in Norway
- Norwegian Oil and Gas Association warns 25% of hydrocarbon output on Norwegian shelf will be affected if strike continues
World energy demand to rise 0.9% per year to 2045: OPEC
- Oil will remain fuel with largest share of global energy mix until 2045 with more than 27%
Oil prices slightly up as Hurricane Delta halts output
- Almost 29% of oil output is forced to shut down due to Hurricane Delta which is expected to reach Gulf of Mexico on Friday
US crude oil inventories rise for week ending Oct. 2
- Commercial crude oil stocks increase by 500,000 barrels compared to market forecast of around 400,000 million-barrel rise
US energy agency revises down oil price forecast
- Brent expected to drop by 4%, according to Energy Info. Administration's Short-Term Energy Outlook for October
Gazprom appeals Poland’s Nord Stream project fine
- Polish anti-monopoly watchdog fines Gazprom over 29B Polish Zloty ($7.6B) for violating country’s anti-monopoly legislation
Oil prices fall as Trump postpones virus stimulus talks
- US President Donald Trump says he called off negotiations for coronavirus stimulus deal until after elections
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Turkey's daily power consumption up 3.4% on Oct. 6
- Electricity exports amount to 10,284 megawatt-hours while imports reach 3,166 megawatt-hours
Chevron announces acquisition of Noble Energy
- Move comes after Chevron announced its decision to buy Noble Energy for $5 billion in July
ExxonMobil to axe 1,600 jobs in Europe
- Company says pandemic-related demand loss increases urgency for cost reduction plans
Oil prices up as Trump discharged from hospital
- US President Donald Trump was receiving treatment after he tested positive for COVID-19 last week
Equinor shuts down four fields due to ongoing strikes
- A total of 330,000 barrels of oil equivalent per day will be cut due to ongoing strikes
Oil prices up over news of Trump’s improving health
- US President Donald Trump has been receiving medical treatment since he tested positive last week
OPEC: uncertainties continue to affect economic recovery
- OPEC Secretary-General Mohammad Barkindo says dialogues on issues of crude oil production will continue
California solar generation drops 30% due to wildfires
- As of Sept. 28, 2020, California wildfires burned an estimated 3.6 million acres, an area about the size of Connecticut
French Total to reduce costs by $2 billion by 2023
- Total will limit its capital investment for 2021 to under $12 bln. due to short-term uncertainty and low price environment
Brent slightly up on optimism over US covid relief deal
- US Treasury Secretary Steven Mnuchin relays progress in talks with House Speaker Nancy Pelosi on stimulus bill
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US crude oil inventories fall for week ending Sept. 25
- Commercial crude oil stocks decline by 2 million barrels compared to market forecast of around 1.4 million-barrel rise
Lundin upgrades Edvard Grieg field reserve estimates
- Company expects 90% more reserves, and will extend production period up to 2023
Norway's Equinor discovers oil and gas in North Sea
- Estimated recoverable resources are between 13 and 38 million barrels of oil equivalent
Shell revises down 3rd quarter peak production by 6%
- Damages from recent hurricanes in the Gulf of Mexico mainly affects production outlook
Shell to slash up to 9,000 jobs by 2022
- Company CEO says Shell aims for sustainable annual cost savings of between $2-2.5 billion
Oil prices drop as markets suffer from demand crisis
- Uncertainty over coronavirus outbreak continues to negatively affect global economic recovery
Total buys electric vehicle charge network in London
- Company aims to operate more than 150,000 electric vehicle charge points in major European cities by 2025
Oil price up with new US coronavirus relief bill hopes
- Coronavirus deaths worldwide now total over 1 million, according to the latest data from Johns Hopkins University
US export of petroleum products on rise in 1H20: EIA
- Country exports 48,000 barrels per day more petroleum products in first half of 2020 than in 2019
Oil price down as rising virus cases curb demand hopes
- Rising number of coronavirus cases continue to put pressure on oil prices
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Global oil demand to drop 9.5% in 2020: OPEC Chief
- Non-OPEC liquids production is also estimated to decline by 2.7 mb/d in 2020, says OPEC Secretary General Mohammad Barkindo
Spot market electricity prices for Monday, Sept. 28
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 135.91 million Turkish liras
28.09.2020
Electricity
Spot market natural gas prices for Saturday, Sept. 26
- 1,000 cubic meters of natural gas on spot market costs 1,345 Turkish liras
28.09.2020
Natural Gas
Total signs solar deal to increase green power in Spain
- Company aims to power all its industrial sites in Europe with renewable electricity by 2025
Oil up over fresh US coronavirus relief bill talk hopes
- Further gains are offset by uncertainty over coronavirus outbreak, which is negatively affecting global economic recovery
Oil prices decline as US stocks drop less than expected
- US crude oil inventories fall by 1.6 million barrels compared to market expectation of 2.3 million-barrel draw
US crude oil inventories fall for week ending Sept. 18
- Commercial crude oil stocks decline by 1.6 million barrels compared to market forecast of around 2.3 million-barrel rise
Turkey's daily power consumption up 2.46% on Sept. 22
- Electricity exports amount to 8,928 megawatt-hours while imports reach 309 megawatt-hours
Turkey's daily power consumption up 2.46% on Sept. 22
- Electricity exports amount to 8,928 megawatt-hours while imports reach 309 megawatt-hours
Oil prices slide with US crude buildup estimates
- US crude oil inventories are expected to rise by 691,000 barrels for week ending Sept. 18
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US oil exports fall since record high in February: EIA
- Oil imports also decrease 12% in first half of 2020 following surge in Saudi Arabia’s crude oil production in April
Oil prices down due to epidemic-related uncertainty
- Number of COVID-19 cases worldwide is now over 31 million
Oil prices down as Libya resumes exports
- Rising number of coronavirus cases continue to put pressure on oil prices
Brent oil price up 7.02% for week ending Sept. 18
- OPEC+ meeting results in full commitment to oil cut agreement and compensation mechanism to ease oversupply concerns
Moody's downgrades Turkish Petroleum Refineries' rating
- Decision follows weakening of Turkish government's credit profile with downgrade of government bonds from B2 to B1
Oil market to see slight recovery into 2021: OPEC chief
- Urging for vigilance, patience, Mohammad Barkindo points to slight recovery due to uncertainties
Eni announces new gas discovery offshore Egypt
- According to preliminary estimates, Great Nooros Area discovery may contain in excess of 4 trillion cubic feet of gas
US natural gas exports in decline since April: EIA
-Country is net exporter of natural gas since 2017
Spot market natural gas prices for Monday, Sept. 14
- 1,000 cubic meters of natural gas on spot market costs 1,324 Turkish liras
Spot market electricity prices for Wednesday, Sept. 16
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 163.26 million Turkish liras
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Oil up due to storm-related halts in Gulf of Mexico
- Nearly 21.39% of oil production, 25.28% of natural gas production in Gulf of Mexico are shut-in
Global oil production increases in August 2020
- Global oil demand is estimated to increase by 6.62 million barrels a day in 2021
Oil prices up as storm Sally threatens Gulf of Mexico
- British pharmaceutical company AstraZeneca’s resumption of coronavirus vaccine also yields upward price pressure
Brent oil price down 5.16% for week ending Sept. 11
- Saudi Arabia’s decision to trim October prices for its sales to US and Asia causes sharp oil price decline
Crude oil output of OPEC+ increases in August: EIA
- OPEC+ production from May to August, however, declines to average 6.6 million barrels per day compared to January levels
Oil prices down with unexpected US stock buildup
- Crude oil inventories in US rose by 2 million barrels for week ending Sept. 4
US crude oil inventories rise in week ending Sept. 4
- Commercial crude oil stocks expand by 2 million barrels compared to market forecast of 1.4 million-barrel decrease
Equinor sells 50% US offshore wind to BP for $1.1 bln
- Companies also expect to establish strategic partnership for further growth in offshore wind in US through this transaction
Oil prices down with US crude stock buildup estimates
- Crude oil inventories in US are expected to rise by 3 million barrels for week ending Sept. 4
EIA revises up Brent oil forecast by $0.48 for 2020
- International benchmark expected to average $41.90 per barrel this year
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Moody’s upgrades oil, gas sector outlook to 'stable'
- Agency forecasts oil prices will remain around $40-$45 per barrel in 2021
Fitch reduces oil price forecast due to higher supply
- Brent oil price for 2020 is revised down to average $50 a barrel, and long-term Brent price to $53 a barrel
Equinor to replace unsafe wells at North Sea field
-Company says in-depth analysis shows previously drilled wells do not have necessary barriers
Libya warns of risks with warship at Ras Lanuf port
- Military presence in Ras Lanuf port poses significant risks to oil installations, says National Oil Corporation
American Petroleum Inst. objects to drilling moratorium
- Trump extends moratorium on offshore drilling in Eastern Gulf of Mexico expanding it to Florida, South Carolina and Georgia
Oil prices fall below $40 as virus threatens economies
- Saudi Arabia’s decision to cut prices for sales to Asia and US supports downward price trend
EU’s electricity consumption still below normal levels
- Reduction in number of tourists in tourism-dependent countries leads to decrease in electricity consumption
Spot market electricity prices for Wednesday, Sept. 9
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 168.38 million Turkish liras
Spot market natural gas prices for Monday, Sept. 7
- 1,000 cubic meters of natural gas on spot market costs 1,315 Turkish liras
Asia Pacific to draw more energy investments by 2030
- Coal investment, however, will fall from peak of $57 billion in 2013 to $18 billion by end of decade, Wood Mackenzie says
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Turkey's daily power consumption up 13.4% on Sept. 7
- Electricity exports amount to 4,789 megawatt-hours while imports reach 1,263 megawatt-hours
Oil prices down with demand concerns as summer ends
- Global increase in coronavirus cases also puts downward pressure on oil prices, underpinning investor demand concerns
Oil prices continue to fall after sharp weekend losses
- Saudi Arabia’s decision to further cut prices for sales to Asia and US exerts downward pressure on prices
Brent oil price down 4.4% for week ending Sept. 4
- China's fall in oil demand causes market concerns, while downturn in US service sector activities dampens oil prices
Oil prices fall sharply over drop in Chinese oil demand
- Prices also negatively affected as US economic data indicates slower-then-anticipated recovery from COVID-19 crisis
US energy exports, imports almost equal in May: EIA
- Imports and exports each amount to approximately 1.7 quadrillion British thermal units in May
Iraq denies reports on exclusion from OPEC+ oil cuts
- Last month, Iraq vowed to slash its oil production by additional 400,000 bpd in August, September to offset overproduction
Spot market electricity prices for Friday, Sept. 4
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 194.9 million Turkish liras
Spot market natural gas prices for Wednesday, Sept. 2
- 1,000 cubic meters of natural gas on spot market costs 1,310 Turkish liras