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Oil up over demand euphoria in China

-Further price increases are limited as American Petroleum Institute reports build in US crude stockpiles, signaling falling demand in country

26.01.2023 Oil , Refining/Petro Chemistry , Oil

Oil prices mixed over supply uncertainties

- OPEC+ agreed to cut production by 2 million barrels per day, while US to deliver another 10 million barrels from strategic petroleum reserve

07.10.2022 Downstream , Refining/Petro Chemistry , Transportation/Fuel Oil , Oil

US says OPEC+ 'aligning' with Russia following production cut

- White House warns that bloc's decision will have negative effects on low-, middle-income nations

07.10.2022 Oil , Refining/Petro Chemistry , Oil

Oil up on US inventory fall, UK vaccine approval

- Commercial crude oil stocks decrease by 6.1 barrels against market expectation of 2.1-million barrel fall

01.01.2021 Oil , Oil , International Organization

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

10.09.2020 Oil , Oil , International Organization , World

S. Arabia, Iraq discuss efforts to stabilize oil market

- S. Arabian energy min. and Iraqi PM stress compliance to OPEC+ pact, and compensation mechanism to meet targeted production

21.08.2020 Downstream , Oil , Middle East-Africa

US crude oil inventories fall for week ending Aug. 14

- Commercial crude oil stocks fall by 1.6 million barrels, less than market forecast of 2.7 million barrel decrease

21.08.2020 Oil , Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Brent oil prices down amid global pandemic crisis

- New Zealand has confirmed 14 local cases of virus after 102 days

14.08.2020 Oil , Upstream , Oil , World , Americas

Brent oil up with estimated decline in US crude stocks

- Forecast of US crude inventory fall signals increase in US oil consumption

12.08.2020 Oil , Oil , Europe , Eurasia , Asia , Americas

Oil prices up as US oil inventories fall

- Weakening dollar index raises oil prices making oil cheaper for foreign exchange holders

07.08.2020 Oil , World , Americas , Middle East-Africa

US crude oil inventories post sharp fall

- Commercial crude oil stocks fall by 7.4 million barrels, exceeding market forecast of 3 million barrel decrease

07.08.2020 Oil , World , Europe , Americas , Middle East-Africa

Oil prices up amid increasing concerns in Middle East

- Tensions in Lebanon have sparked uncertainty about oil supply in Middle East, world's largest oil producing region accounting for around 15% of global outpu

06.08.2020 Upstream , Oil , Europe , Americas , Middle East-Africa

Canada's oil production hits lowest level since 2016

- Oil production falls by 700,000 barrels per day in April, and by another 640,000 barrels per day in May

20.07.2020 Upstream , Oil , International Organization , Americas

EC approves establishment of Middle East Cybersecurity

- Joint venture will be active in marketing and sales of defensive cybersecurity products & services in Saudi Arabia and MENA

14.07.2020 Oil , Europe , Middle East-Africa

Oil prices up for week ending July 10

- Oil prices gain after US oil rig count reached its lowest level since June 2009 on Monday

11.07.2020 Oil , Oil , World , Europe , Asia , Americas

ENI revises down Brent price forecast by $10 for 2023

- For 2020-2022 period, Italian energy firm forecasts Brent at respectively $40, $48 and $55 per barrel

08.07.2020 Natural Gas , Oil , Oil , Europe

US oil rig count falls for sixteenth consecutive week

- Over the past 16 weeks, the decline in the US oil rig count totaled 498, according to Baker Hughes

04.07.2020 Oil , Americas

5 major oil firms sued for causing climate change

- US Attorney General for Columbia District says companies misled consumers and discredited climate science in pursuit of profits

28.06.2020 Oil , Oil , Americas

BP invests $5M on software to detect methane leaks

- Move is part of company’s goal to become a net zero company by 2050

24.06.2020 Oil , Europe

OPEC, allies stress full conformity with oil output cut

- 4 OPEC members also agree to voluntarily lower total oil production by 1.2 million barrels a day in June to support prices

19.06.2020 Upstream , Oil , International Organization , Middle East-Africa

Iraq to boost oil exports to 2.8M barrels daily in June

- Kurdish Regional Gov. to export maximum of 370,000 barrels per day, starting in June to help Iraq comply with OPEC+ quota

16.06.2020 Upstream , Oil , Middle East-Africa

British energy giant BP lowers its oil price outlook

- Company lowers its price assumptions down by around 30%

16.06.2020 Oil , Oil , Europe

Baghdad halts payments to KRG until oil deal is struck

-Iraq’s central government cuts Kurdish region’s spending as it fails to hand over 250,000 bpd of oil to federal government

02.06.2020 Oil , Oil , Middle East-Africa

Libya oil production comes to halt, affects economy

- Militia leader Haftar closes oil facilities in central, eastern Libya to hurt economy and put pressure on Tripoli

02.06.2020 Oil , Stock Market , Oil , Middle East-Africa

G20 int'l merchandise trade shrinks in Q1 amid COVID-19

- Figure hits lowest level since second quarter of 2017 as exports and imports fall 4.3% and 3.9% respectively

29.05.2020 Oil , Oil

Saudi, Russia agree on further oil output coordination

- 'President Putin, Saudi Crown Prince agree on further coordination on oil output adjustment,' OPEC says

29.05.2020 Oil , Oil , World

Genel Energy receives $10.4 million for KRG oil prod.

- Company’s net payment share amounts to $3.2 million

28.05.2020 Upstream , Oil

Venezuela to escort Iranian fuel tankers

- Five Iranian fuel tankers sail towards Venezuela to supply fuel for its refineries which are facing acute gasoline shortages

22.05.2020 Transportation/Fuel Oil , Oil , World

US to buy oil for strategic reserve to test market

- An initial 1 million barrels of crude oil to be bought for strategic petroleum reserve

17.05.2020 Refining/Petro Chemistry , Oil , Energy Security , Americas

23rd World Petroleum Congress postponed until Dec. 2021

- Delay expected to assure international participation and engagement, according to statement

16.05.2020 Oil , Oil , World

Total’s net profit decreases 35% in Q1 amid oil crisis

- Company agrees to reduce net investments by 25% to $14 billion in 2020

06.05.2020 Oil , Upstream , Oil , World

Total announces zero carbon emission goal by 2050

- Firm aims to cut carbon and net zero emissions in three steps from its operations and energy products sold to Europe

06.05.2020 Oil , World , General

Oil to rise to $40 after OPEC+ cut: Algerian Energy Min

- Energy Minister says global economy will not stay paralyzed following lifting of coronavirus lockdown

28.04.2020 Upstream , Oil , World

OPEC alone cannot address oil crisis: Iranian oil min.

- Bijan Zangeneh says oil crisis needs global cooperation

23.04.2020 Oil , Upstream , Oil , World

Australia signs deal with US to access oil reserves

- Australian government plans to spend $94 million for oil storage in US

23.04.2020 Oil , Oil , World

Iran forms plan against zero oil income: vice president

-His comments on adjustment to zero oil revenue come after WTI fell Monday into negative territory for first time in history

22.04.2020 Upstream , Oil , World

Saudi Aramco refutes reports of change in payment terms

- Some media outlets report firm offered Asian, European refineries the right to delay crude cargo payments for up to 90 days

16.04.2020 Refining/Petro Chemistry , Oil , World

Riyadh wants US shale partners to prosper: Energy min.

- Saudi energy minister denies allegations that recent oil price cuts target US shale industry

16.04.2020 Oil , Oil , World

Low oil demand pushes global stock capacity to over 80%

- China's oil stocks to reach 1.1 billion barrels this month while India has fullest storage capacity, experts say

16.04.2020 Upstream , Oil , Energy Security , Europe , Asia , Americas

US to award 23 million barrels oil storage for 9 firms

- Most deliveries to be received in May and June 2020, with possible early deliveries in April, US energy secretary says

15.04.2020 Refining/Petro Chemistry , Oil , Americas

Giant oil rig passage halts Istanbul’s maritime traffic

-Bahamas-registered oil platform Scarabeo 9 en route to Spain's Cartagena port to complete crossing via Bosporus in six hours

14.04.2020 Oil , Oil , Türkiye

Turkey: Retail sales volume up 10.6% in February

- Highest annual hike in non-food sales at 14.7% in February, official figures show

14.04.2020 Oil , World , Türkiye

IEA hopes G20 will help restore volatile oil markets

- 'I am looking forwards to today's extraordinary meeting of G20 energy ministers,' says head of international energy agency

11.04.2020 Oil , Upstream , Oil , World

Mexico’s terms on oil prices to be discussed during G20

- Logging off OPEC+ meeting without agreeing 10 mbpd cut deal, Mexican energy min. later says country would cut 100,000 bpd

11.04.2020 Upstream , Oil , World

OPEC, allies agree to lower oil production by 10M bpd

- Oil output cuts will start on May 1

11.04.2020 Upstream , Oil , International Organization , Eurasia , Middle East-Africa

US to cut oil by 4M barrels per day: Texas reg. agency

- If nothing is done, inventories will fill up in two months, says Ryan Sitton, agency's commissioner

10.04.2020 Upstream , Oil , World

Russia ready to cut 14% of oil output: Local reports

- Russia may reduce production by about 1.6 million barrels from the previous 11.3 million barrels, according to local sources

10.04.2020 Upstream , Oil , World

Recent US oil fall merely market-driven: Kremlin

- Russia's Presidential Spokesman Dmitry Peskov urges waiting for OPEC+ teleconference scheduled for April 9

09.04.2020 Upstream , Oil , World

OPEC+ should agree output before meeting: Iran Oil Min.

- Iranian oil minister says producers from other countries, including US, Canada, should be involved in OPEC+ negotiations

09.04.2020 Oil , Upstream , Oil

Oil down despite US Senate passes $2 trillion package

- Stimulus bill could increase US' crude consumption, and then global oil demand, which remained low due to Covid-19

27.03.2020 Downstream , Oil , International Organization , Americas

Lower oil price to weaken oil-exporters credit profiles

- Fiscal revenues, exports of some countries will decline by more than 10% of GDP, says global rating agency

26.03.2020 Upstream , Downstream , Oil

Shell to cut spending by $5 billion in 2020

- Company will also suspend its plan to buy back $25 billion worth of shares

25.03.2020 Upstream , Downstream , Oil

S. Aramco makes preventive plans to sustain supply: CEO

-"We developed emergency plans to meet needs of customers around world," says company president

24.03.2020 Upstream , Downstream , Transportation/Fuel Oil , Oil

India oil giant starts ultra-low suplhur fuel delivery

- Move expected to decrease sulphur levels five-fold compared to BS-IV levels in bid to alleviate air pollution problem

23.03.2020 Upstream , Oil , International Relations

Algeria to cut budget in response to falling oil prices

- Country’s operational budget will be cut by 30%, according to Algerian presidency

23.03.2020 Upstream , Oil , Middle East-Africa

Texas plans huge oil output cut for 1st time since 1972

- US shale companies have cut as much as 50% of planned spending due to falling demand since OPEC+ deal breakdown

21.03.2020 Upstream , Downstream , Oil

Saudis to raise oil export to record 10M barrels a day

-Move comes after Riyadh announces tapping of new Fadhili gas field to compensate for 250,000 barrels of oil consumption

18.03.2020 Downstream , Transportation/Fuel Oil , Oil

Turkey halts ethanol-mixed fuel for more disinfectants

- Move to raise ethanol production capacity to boost disinfectant production as measure against spread of coronavirus

16.03.2020 Refining/Petro Chemistry , Oil , Türkiye

Turkey: 4 fuel firms fined for violating competition law

- Companies include Shell&Turcas Petrol, BP, Petrol Ofisi, OPET, which supply fuel and gasoline to many gas stations all over Turkey

14.03.2020 Downstream , Oil , Türkiye

Saudi Arabia orders Aramco to up oil capacity by 1M bpd

- National oil company Saudi Aramco could see oil production capacity of 13 million bpd

12.03.2020 Upstream , Oil , International Relations , Eurasia , Middle East-Africa

Oil prices continue recovery from 4-year lows

- Crude prices gain with Trump's stimulus hopes

11.03.2020 Upstream , Oil , International Relations , Eurasia , Americas , Middle East-Africa

OPEC+ fails to agree further cuts in oil production

- Group also fails to rollover existing cuts, risks additional 2.1M bpd of crude oil in market when second quarter begins

09.03.2020 Upstream , Oil , International Organization , Eurasia , Middle East-Africa

Covid-19 has adverse impact on oil demand: OPEC

- Global oil market facing uncertainties beyond capacity of any individual country to manage on its own: conference president

06.03.2020 Upstream , Oil , International Organization , Asia , Middle East-Africa

US' Gulf of Mexico lease sales scheduled for March 18

- This will be sixth offshore oil and gas lease sale under 2017-2022 Outer Continental Shelf Leasing Program

13.02.2020 Upstream , Upstream , Oil , Energy Projects , Americas

Turkey's energy import bill falls 7.4% in December 2019

- Country's crude oil imports increase by almost 22% in December 2019 compared to same month in 2018

01.02.2020 Coal , Oil , International Organization

French authorities, NGOs sue Total for climate change

- Lawsuit marks first climate change litigation against a company in France

31.01.2020 Oil , Energy Security , Europe

ExxonMobil makes 15th oil discovery in offshore Guyana

- Discovery adds to current resource estimate of more than six billion barrels of oil equivalent

25.12.2019 Oil , Oil , Energy Diplomacy , Energy Security , General

Highlights of global energy market in 2019

- Tensions between US and Iran, oil tanker attacks in Middle East and the climate crisis were hot topics in 2019

22.12.2019 Electricity , Natural Gas , Oil , Nuclear , Thermal , Lng/Lpg , Refining/Petro Chemistry , Wind , Solar , Hydro , Geothermal/Biomass , Projects , Oil , Natural Gas , Electricity , Energy Diplomacy , Energy Security , International Relations , News from companies , World , Türkiye , Europe , Eurasia , Americas , Middle East-Africa , General

Akkuyu nuclear power plant moves toward first commissioning phase next year

US consul general says energy is key to $100B US-Türkiye trade goal

South Africa moves to revive nuclear power projects, ramp up research

UK's first small modular nuclear reactors to be built in Wales, prime minister confirms

Türkiye says power system strong amid European blackout

Türkiye's daily power consumption down 1.8% on April 26

Türkiye's daily power consumption up 16.7% on May 22

Türkiye's daily power consumption increases 1.2% on May 10

Climate change protestors block world’s largest coal export port in Australia

US to invest $625M to expand coal industry

Global consortium launches study on carbon capture hubs to support Asia's decarbonization

Global coal demand to remain on a plateau in 2025 and 2026: IEA

Spot market natural gas prices for Tuesday, Nov. 5

Global natural gas investments to reach almost $9 trillion by 2050

Spot market natural gas prices for Thursday, Jan. 5

Turkish president announces more gas reserves found in Black Sea

Spot market natural gas prices for Saturday, Nov. 29

Spot market natural gas prices for Thursday, April 17

Türkiye's natural gas imports up 17.7% in October

Costs double as oil and gas discoveries decline in global markets

Türkiye's LPG production up 2.89% in October

Sri Lanka in talks with Moscow to build LNG terminal, modernize refinery to use Russian oil

LNG supply surplus in 2026 to pressure global gas prices, experts say

Türkiye's LPG production up 27.2% in September

US oil rig count up for week ending Dec. 26

Türkiye to deploy AI in oil and gas exploration

Oil production in Türkiye's eastern region breaks first record in 2024

Oil up in w/e Dec. 15 on demand optimism, central bank interest rate decisions

Türkiye, Iraq begin talks on new oil transport deal

US oil rig count down by 8 for week ending May 23

US oil rig count down by 6 for week ending June 28

Oil dives as weak US inflation data dashes hopes for interest rate cuts

US oil rig count up by 2 for week ending Sept. 5

US oil rig count down by 9 for week ending April 11

Oil giants' profits slide 15.1% to $182.1 billion in January-September

Oil prices up on expectations of supply delay from OPEC+, recession fears in US

Goldwind names Alper Kalayci, localization, supply chain manager in Türkiye

Nordex Group to install 90 MW wind power capacity in Türkiye

China's Dongfang plans $250M wind turbine plant in Türkiye

Europe to reach 441 GW of wind power by 2030

Türkiye, UAE advance $1B deal for Nigde solar power plant

QatarEnergy, Samsung C&T ink deal to build Dukhan solar power plant

Global solar set for record year after 64% growth in first half of 2025

Citicore secures $77M loan for 125-MWp solar project in Philippines

Hydropower gains new momentum as pumped storage accelerates globally

India launches $77 billion hydropower plan in Brahmaputra river

Türkiye's Orta Asya Investment Holding's hydropower project in Kyrgyzstan to support regional energy transformation

Türkiye's Yusufeli Dam supplies power to 2.5 million people annually

Highlights of Türkiye's energy market in 2024

Climate crisis to push 150M more Africans into poverty by 2050, experts warn

Taiwan starts drilling of 1st deep geothermal well

Türkiye sets new record for daily power consumption with 1.34% increase on July 9

Türkiye's mining exports poised to exceed $10 billion in 2026

Türkiye's energy import bill down 3.4% in October

Türkiye and World Bank agree on $6B energy financing package

Türkiye, Canada's AtkinsRealis launch technical studies on future nuclear projects

ADNOC signs 15-year LNG supply deal with Shell for Ruwais project

OPEC+ agrees to extend group-wide output cuts into 2025

Libya Energy & Economic Summit 2024 to kick off in Tripoli

OPEC+ countries announce daily voluntary output cuts by 2.2 million barrels

Brazil joins OPEC+ as group confirms 3.6 million barrels per day output cut

Spot market electricity prices for Sunday, Dec. 3

ExxonMobil drills first lithium well in Arkansas in aim to become major player in EV sector

Spot market electricity prices for Thursday, June 8

High rollout of electric vehicles could earn UK drivers £6.5B more by 2035

Spot market natural gas prices for Friday, Dec. 1

Turkey's daily power consumption down 0.77% on Oct. 23

Russian Lukoil starts Chashkino gas-turbine power plant

Gazprom posts 26% loss in 1H20

Uzbekistan sees energy partnership with Türkiye gaining pace through PPP projects and regional green initiatives

Karpowership draws rising interest as it powers eight African nations

World Bank to continue financing new energy projects in Türkiye

Türkiye’s YEKA tenders set to draw $3.3B in renewables investment

Türkiye's LPG production up 12.4% in March

Türkiye's LPG production down 4.3% in December 2024

Türkiye's LPG production down 25% in April 2024

Türkiye's LPG production up 15% in December 2023

EU gas imports to fall 25% by 2030 as bloc exceeds demand reduction targets

Former Lithuanian FM warns Russia's shadow fleet threatens EU security

Turkmen natural gas set to reach Türkiye on March 1