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U.S. natural gas and oil industry turns in strong April performance

3 days ago DieselGasoil Comments Off on U.S. natural gas and oil industry turns in strong April performance
5/17/2019 WASHINGTON — The American Petroleum Institute’s latest Monthly Statistical Report (MSR) shows U.S. crude oil production sustained a record-tying 12.1 MMbopd in April 2019 while total petroleum demand was the highest for the month since 2007 at 20.2 MMbpd. Other April highlights include: U.S. petroleum demand grew 1.2% year to year (y/y) in April. Read More

Russia aiming to share Saudi output hike as OPEC+ meets

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By Dina Khrennikova on 5/15/2019 MOSCOW (Bloomberg) — Russia will join the OPEC+ talks this weekend having barely fulfilled its pledged production cuts, but keen to secure a share of any potential output increase. In recent months, Russia has indicated it would welcome a return to production growth, said analysts from Fitch Ratings and IHS Read More

Russia expediting clean-up of tainted oil pipeline

6 days ago DieselGasoil Comments Off on Russia expediting clean-up of tainted oil pipeline
By Aliaksandr Kudrytski, Olga Tanas and Dina Khrennikova on 5/14/2019 MINSK and MOSCOW (Bloomberg) — Russia is racing to return oil exports to normal after deliveries to eastern Europe were cut by a contamination crisis that shut down parts of the giant Druzhba pipeline about a month ago. Where has supply been restored? Shipments to Read More

Iran-backed drone attacks damage Saudi pumping stations

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By Anthony DiPaola and Dana Khraiche on 5/14/2019 DUBAI AND BEIRUT (Bloomberg) — Saudi Arabia halted its main cross-country oil pipeline after a drone attack damaged pumping stations along the link, a strike claimed by Iran-backed rebels in neighboring Yemeni. Oil prices rose. Saudi Aramco, the world’s biggest oil exporter, said that supplies of crude Read More

Iranian crude shipments slump as U.S. oil sanctions bite deeper

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By Julian Lee on 5/9/2019 LONDON (Bloomberg) — Iran’s oil shipments tumbled this month after the U.S. ended sanctions waivers that allowed eight governments to buy from the Persian Gulf country. So far, not a single ship has been seen leaving Iran’s oil terminals for foreign ports in tanker tracking data compiled by Bloomberg. China, Read More

ADNOC, ExxonMobil CEOs discuss new opportunities during visit to review progress of $30 billion Upper Zakum expansion

2 weeks ago DieselGasoil Comments Off on ADNOC, ExxonMobil CEOs discuss new opportunities during visit to review progress of $30 billion Upper Zakum expansion
5/7/2019 Photo: (from left) Darren W. Woods, chairman and CEO of ExxonMobil Corporation and His Excellency Dr. Sultan Ahmed Al Javer, UAE minister of state and group CEO of ADNOC. ABU DHABI — His Excellency Dr. Sultan Ahmed Al Jaber, UAE minister of state and group CEO of the Abu Dhabi National Oil Company (ADNOC), Read More

Oil patch shifts from growth to cash flow as U.S. rig count falls

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By David Wethe on 4/28/2019 Photo: Mike Duniway, USGS. HOUSTON (Bloomberg) — Oil explorers idled rigs in the U.S. for a second consecutive week as operators shifted focus from production growth to cash flow. Working oil rigs fell by 20 this week to 805, according to data released Friday by oilfield-services provider Baker Hughes, a Read More

Nigeria plans to double crude oil production, triple refining in bid for self-reliance

3 weeks ago DieselGasoil Comments Off on Nigeria plans to double crude oil production, triple refining in bid for self-reliance
By Paul Wallace and Elisha Bala-Gbogbo on 4/25/2019 Erha North. Photo: Aveon Offshore. ABUJA (Bloomberg) — Nigeria plans to almost double oil production and triple its Refining capacity by 2025, reviving previous pledges for the country’s oil independence. The OPEC member is looking to pump 4 MMbopd by 2025 and increase Refining capacity to 1.5 Read More

Russian oil imports to Europe halted due to contamination

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By Aliaksandr Kudrytski and Maciej Martewicz on 4/25/2019 MINSK and WARSAW (Bloomberg) — Russian oil flows to parts of Europe were halted after customers complained of unusual impurities in the crude, adding another disruption to the global oil market and pushing prices in London above $75/bbl. Poland, which receives oil through a northern section of Read More

Trump’s widening OPEC fight puts Saudi oil capacity in spotlight

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By Grant Smith on 4/25/2019 LONDON (Bloomberg) — The biggest threat to President Donald Trump’s hopes for low gasoline prices is his growing entanglement in the politics of OPEC nations. The White House plans to choke off oil exports from Iran without triggering a spike in prices largely by getting Saudi Arabia, the only OPEC Read More