Tag: oil

Tuesday, February 22nd 2022 - 21:50 UTC
Iran to further help Venezuela regarding oil and other issues

Venezuela's Foreign Minister Félix Plasencia and his Iranian Petroleum colleague Javad Owji Tuesday signed an agreement to deepen mutual cooperation in the area of hydrocarbons.
Tuesday, February 22nd 2022 - 09:57 UTC
Middle East OPEC members with no plans to increase output: “caution” is the name of the game

As crude prices steadily climb to US$ 100 a barrel, Middle Eastern OPEC producers have no plans to increase production beyond their OPEC+ quotas, a gathering of ministers this weekend has made clear. The energy minister of the biggest oil producer in the cartel, Saudi Arabia, said that the pandemic had taught oil-producing nations one thing, and that was caution, writes Irina Slav for oilprice.com.
Saturday, February 19th 2022 - 07:50 UTC
Historic shift for US: from net crude exporter in 2020, to net importer in 2021 and 2022

By Michael Kern for Oilprice.com - Higher net crude oil imports are set to make the United States a net petroleum importer this year again, as in 2021, after a historic shift of being a net petroleum exporter in 2020, the U.S. Energy Information Administration (EIA) said on Friday.
Saturday, February 5th 2022 - 09:42 UTC
WTI crude surges above US$ 92 on Texas freezing weather

By Tsvetana Paraskova for Oilprice.com – WTI Crude, the U.S. oil benchmark, jumped to over US$ 92 per barrel early on Friday—its highest level since 2014, amid the Russia-Ukraine crisis and a deep freeze in Texas that disrupted some Permian oil production.
Thursday, February 3rd 2022 - 09:51 UTC
OPEC+ confirms March output increase; oil remains bullish at US$ 90 since several members can't deliver

By Tsvetana Paraskova for Oilprice.com – In the shortest meeting so far in its history, OPEC+ decided on Wednesday to increase the collective production by 400,000 barrels per day (BPD) in March, keeping unchanged the plan to boost output and pushing Brent above US$ 90 per barrel again with the per-usual modest production hike.
Thursday, February 3rd 2022 - 09:33 UTC
Further oil and gas discovery off the coast of Guyana

More oil reserves discovered in Guyana, Canada's CGX Energy reported that together with parent Frontera Energy discovered an oil and gas reservoir off the coast of Guyana and anticipated drilling on a second well could begin later this year.
Wednesday, February 2nd 2022 - 11:58 UTC
Falklands' Sea Lion project, Rockhopper, Harbour and Navitas extend heads of terms to 31 March 2022

Rockhopper Exploration, Harbour Energy, and Navitas Petroleum have extended the provisions of their previously signed heads of terms concerning the Sea Lion project offshore the North Falkland Basin. The new deadline is March 31, 2022: the aim is to sign definitive documentation on the transaction by this date. Harbour plans to exit operations offshore the Falklands, leaving the other two partners to take the development forward.
Thursday, January 20th 2022 - 20:16 UTC
December 2021 marks record oil output for Argentina in last 9 years

In the last month of 2021, Argentina has recorded a total oil output of around 559,000 barrels per day (BPD), thus reaching the highest production for the country over the past nine years, it was reported Thursday.
Tuesday, January 18th 2022 - 20:37 UTC
COVID-19 and military unrest drive price of Brent crude up

The international price of Brent crude Tuesday rose by 1.6% to nearly US $ 88 per barrel, its highest mark since late 2014, amid numerous problems regarding supply due to both the COVID-19 pandemic and also warlike episodes in the Middle East, it was reported.
Wednesday, January 12th 2022 - 20:54 UTC
Venezuela resumes crude exports after nine months

Venezuela's state-run PDVSA will begin exporting diluted crude oil (DCO) this week after a nine-month stoppage, it was reported in Caracas. The last time PDVSA shipped diluted crude to Asia was in April last year.