newszine

OPEC reports big drop in crude production, amid ‘somewhat bearish’ market outlook

4 days ago DieselGasoil Comments Off on OPEC reports big drop in crude production, amid ‘somewhat bearish’ market outlook
London — Led by its kingpin Saudi Arabia, which said it pumped at its lowest level in more than five years, OPEC on Friday reported it slashed its crude production in July, as it continues to battle slumping oil prices. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC Read More

Refinery news roundup: Africa launches come into focus

4 days ago DieselGasoil Comments Off on Refinery news roundup: Africa launches come into focus
London — News has emerged about new launches in Africa. Separately, Engen’s refinery in Durban is facing “some challenges” in production and hence will not be able offer bunker fuel in the spot market until the end of September, sources said. The refinery was “highly unlikely” to resume offering until the end of September, which Read More

Angola to offer 10 frontier offshore blocks in new license round

5 days ago DieselGasoil Comments Off on Angola to offer 10 frontier offshore blocks in new license round
8/15/2019 HOUSTON – IHS Markit has been selected by the National Agency of Petroleum, Gas and Biofuels of Angola (ANPG), to facilitate its upcoming hydrocarbon licensing round presentations in Luanda, Houston, London and Dubai during September. IHS Markit last hosted previous hydrocarbon round promotions for Angola in 2005, and 2007-2008, which led to the largest Read More

Guyana isn’t ready for its pending oil riches, but ExxonMobil is

7 days ago DieselGasoil Comments Off on Guyana isn’t ready for its pending oil riches, but ExxonMobil is
By Kevin Crowley on 8/13/2019 HOUSTON (Bloomberg Markets) – This tiny nation on the north coast of South America is about to become the world’s newest petrostate—and potentially the richest. In 2015, ExxonMobil made what one of its executives described as a “fairy tale” discovery in the vast Stabroek exploration block off the Guyanese coast. Read More

VAALCO Energy, Inc. Announces Second Quarter 2019 Results

2 weeks ago DieselGasoil Comments Off on VAALCO Energy, Inc. Announces Second Quarter 2019 Results
HOUSTON, Aug. 07, 2019 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY) today reported operational and financial results for the second quarter 2019. Operational and Financial Highlights for the second quarter of 2019 include: Produced an average of 3,664 barrels of oil per day (“BOPD”) net near the midpoint of the Company’s guidance range; Increased Read More

OPEC Jul output slumps to 5-year low on Saudi overcompliance: Platts survey

2 weeks ago DieselGasoil Comments Off on OPEC Jul output slumps to 5-year low on Saudi overcompliance: Platts survey
Highlights OPEC production falls 210,000 b/d to 29.88 mil b/d Saudi output dives to 9.70 mil b/d Compliance for 11 members rebounds to 117% Angola, Iraq, Ecuador, UAE post small gains OPEC pumped its fewest barrels in more than five years in July, aided by a huge production decline in its largest producer, Saudi Arabia, Read More

Angola’s Nemba crude hits record high on gasoil demand in Mediterranean, NWE

2 weeks ago DieselGasoil Comments Off on Angola’s Nemba crude hits record high on gasoil demand in Mediterranean, NWE
London — Angola’s gasoil- and naphtha-rich Nemba crude, supported by 0.1% gasoil demand in both Northwest Europe and the Mediterranean, has hit its highest value since S&P Global Platts began assessing the grade in July 2009. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now That was despite ongoing lackluster Read More

US crude unlikely to figure on China’s possible counter tariff radar

2 weeks ago DieselGasoil Comments Off on US crude unlikely to figure on China’s possible counter tariff radar
Sydney — China is unlikely to target US crude oil if it decides to impose retaliatory tariffs in response to Washington’s latest announcement to put additional tariffs on Chinese goods, as any impediment to the sale of North American oil to Chinese refiners would not inflict much damage to the US upstream companies. Not registered? Read More

Angola emerges as top crude supplier to China’s independent refineries in July

2 weeks ago DieselGasoil Comments Off on Angola emerges as top crude supplier to China’s independent refineries in July
Singapore — Angola was the top crude supplier to China’s independent refineries in July, overtaking Brazil and Russia, with imports at 1.84 million mt, S&P Global Platts’ monthly survey showed Monday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Angolan imports were up 18.8% on the month, and 89.8% Read More

BP beats earnings expectations as output rises

3 weeks ago DieselGasoil Comments Off on BP beats earnings expectations as output rises
By Kelly Gilblom on 7/30/2019 LONDON (Bloomberg) –BP bucked the trend of disappointing oil and gas earnings, beating expectations and increasing its cash flow as higher production offset the effect of lower energy prices. The company’s performance brightens what has so far been a weaker-than-expected second quarter for the majors. While companies are more profitable Read More