Tag: oil

• Wednesday, October 28th 2020 - 09:25 UTC

  Brazil third largest supplier of crude oil to China during September; Russia leads

  

  Data from the Chinese Customs Administration indicates that in September, Brazil advanced to the position of third-largest supplier of crude oil to the Asian country, as independent Chinese refiners obtain cheap and a relatively high-quality supply from the South American exporter.

• Wednesday, October 7th 2020 - 09:45 UTC

  Premier Oil absorbed by Chrysaor, becomes the largest independent oil and gas group on London Stock Exchange

  

  Shares in Premier Oil, with interests in the Falkland Islands, soared more than 14% on Tuesday, after the oil explorer agreed with a reverse takeover that will create the largest London-listed independent oil-and-gas group, producing more than 250,000 barrels of oil a day.

• Friday, September 11th 2020 - 09:40 UTC

  Brazilian prosecution investigating Petrobras forex transactions between 2008 and 2011

  

  Brazil’s federal police were serving 25 search warrants as part of an investigation regarding foreign-exchange transactions done by oil company Petrobras between 2008 and 2011, according to a statement from federal prosecutors on Thursday.

• Thursday, August 27th 2020 - 09:09 UTC

  Is Argentina’s Shale Too Expensive To Drill?

  

  By Irina Slav, Oilprice.com – It is one of the most abundant shale plays in the world, with oil reserves of up to 16 billion barrels and gas reserves of 308 trillion cubic meters—resources that could guarantee a country’s energy independence and turn it into a relevant international supplier of oil and gas. But only if the price is right.

• Thursday, August 20th 2020 - 10:05 UTC

  Oil industry's recovery is incomplete but sustainable

  

  Throughout the summer, oil’s recovery from its devastating crash has looked somewhat dubious. While the price of crude rebounded somewhat, it did not wholly regain its pre-pandemic strength. And while the nations of OPEC+ put measures in place to cut production and close the gap between supply and demand, certain nations involved hinted at the reluctance to keep cuts in place. These factors, coupled with the lingering potential of fresh “waves” of the coronavirus, have kept us from being overly optimistic about the state of oil.

• Friday, August 14th 2020 - 07:54 UTC

  US government seizes vessels loaded with Iranian oil in violation of sanctions, WSJ reports

  

  The US government has for the first time seized vessels allegedly loaded with Iranian fuel in violation of sanctions imposed by the Trump administration, the Wall Street Journal reported on Thursday, citing US officials.

• Monday, August 3rd 2020 - 09:45 UTC

  Major sale of gas station network in the US for an all cash deal of US$ 21bn

  

  Marathon Petroleum Corp sold its Speedway gas station network to 7-Eleven Inc, a subsidiary of Japan's Seven & Holdings Co, for US$21 billion in an all-cash deal, the companies said on Sunday.

• Friday, July 31st 2020 - 10:20 UTC

  Lack of political stability in Guyana is delaying expected oil output

  

  Guyana’s crude production has reached 100,000 b/d, 25% up on June, energy department director Mark Bynoe revealed even as the country continues to see an announcement on the 2 March, 2020 election results pushed further and further into the year.

• Monday, July 20th 2020 - 09:29 UTC

  Brazilian oil industry showing resilience to coronavirus pandemic despite fall in investment

  

  By Matthew Smith for Oilprice.com – Before the outbreak of COVID-19 and the oil price war between Saudi Arabia and Russia, an oil boom of monumental proportions was underway in Brazil, Latin America’s largest economy. Economists and industry analysts as far back as 2018 were speculating that it would be the largest in Latin America’s history. There were even signs that Brazil’s burgeoning oil production could challenge OPEC’s wanning supremacy.

• Wednesday, July 15th 2020 - 08:55 UTC

  Exxon resumes drilling in Guyana; local politics battle over the future oil revenue

  

  Exxon Mobil resumed drilling in Guyana last month, underscoring its dedication to the offshore hotspot despite the oil price crash and a messy turn in local politics.