Latest Stories

US official says Rosneft may be able to avoid sanctions for Venezuelan operations

8 April 2020

A high-ranking US official says Washington is ready to lift sanctions on a subsidiary of Russia’s largest oil operator Rosneft, provided that the company can show that it is no longer doing business in Venezuela.

More gasoline and diesel going into storage facilities in Panama

8 April 2020

Panama appears to be turning into a popular destination for traders looking for places to store their excess supplies of petroleum products, especially low-sulphur motor fuels.

innogy joins Taiwan’s offshore wind boom

8 April 2020

innogy has joined Asia Cement Corporation’s (ACC) 448-MW Chu Feng offshore wind project

Green growth outpaces fossil fuels, but more is needed from governments

8 April 2020

Global renewable generating capacity grew by 7.4% to 2,537 GW in 2019, bringing online 176 GW of new installations

Apache reports another oil discovery offshore Suriname

8 April 2020

US-based Apache Corp. and its French partner Total have found oil again at Block 58, which lies offshore Suriname.

Three Gorges’ $2.5bn IPO to fund offshore wind

8 April 2020

China Three Gorges (CTG) aims to raise CNY25bn ($3.5bn) through an IPO in Shanghai to help fund the construction of up to 2.2 GW of offshore wind capacity.

Global oil storage facilities near capacity

8 April 2020

The unprecedented glut in global oil supply has tested storage capacity to the limits, driving the world’s biggest producers to negotiate a truce this year and curb their output.

Four windows on OPEC-plus talks

8 April 2020

Smaller oil-producing states will watch the upcoming Russian-Saudi discussions closely.

Tullow comments on status of African projects

7 April 2020

Tullow Oil (UK/Ireland) has indicated that it remains optimistic about its projects in Africa despite the challenges posed by the coronavirus pandemic and lower crude oil prices.

Mexico consulting other oil producers about output, price

7 April 2020

The government of Mexico has been in communication with other major oil-producing countries to discuss measures for stabilising production and price levels.

Pemex says it will maintain current output levels despite pandemic

7 April 2020

Mexico’s national oil company (NOC) Pemex has said it will maintain current crude production levels, in spite of the coronavirus-driven decline in demand and uncertainty over global oil prices.

Yantai LNG, the largest LNG terminal in northern China, approved by China’s National Development and Reform Commission

7 April 2020

The National Development and Reform Commission of China officially approved the construction of the largest LNG receiving terminal in northern China, the Yantai LNG terminal in March that will be the largest of its kind in the country.

Guyana’s oil output up by 58.2% in January, finance minister says

7 April 2020

Guyana’s oil output jumped to 56,320 barrels per day in January, up by 58.2% on the December figure of 35,607 bpd, according to a report from the South American country’s finance ministry.

Oil price plunge has no impact on Guyana’s Liza project, ExxonMobil says

7 April 2020

The recent drop in crude oil prices has had no impact on production at Guyana’s flagship Liza project, ExxonMobil has said.

Brazil suspends upcoming licensing round on coronavirus outbreak

7 April 2020

Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has approved the temporary suspension of the next round of oil and gas auctions, citing the coronavirus crisis.

Libya Oil Uganda wins early victory in lawsuit over tax payments

7 April 2020

Ola Energy, a Kenyan fuel marketing company formerly known as OiLibya, has taken legal action against the Ugandan Revenue Authority (URA) to protest against the latter’s demand for payment of import taxes.

Nigeria’s LPG consumption plan will cost more than $6bn

7 April 2020

Dayo Adeshina, the programme manager of the Nigerian federal government’s National LPG Expansion Plan (NLPGEP), has said that the country cannot push domestic LPG consumption up to targeted levels unless it invests more than $6bn in infrastructure.

Lower oil prices lead Angola to review 2020 budget

6 April 2020

Angola’s government recently announced plans to review this year’s budget in light of changing conditions on world crude markets.