OPEC


All posts for OPEC

Angola: Supporting Cross-Border Cooperation

*This article will be published in the upcoming AES: Angola COVID-19 Impact ReportAs a response to the reduction in oil demand amid global lockdowns, the Organization of Petroleum Exporting Countries (OPEC) and the G20 met in March, seeking to reduce the global supply of petroleum among top produc ...

Aydanur Akkurt - Africa Oil & Power


Posted 2 days agoLink > AngolaLuandaAngola Oil & Gas +27

OPEC turns 60

In the 1960s, OPEC established itself with courage, persistence and diligence, through the development of its Statute that remains in place today, registering at the United Nations (UN) Secretariat on 6 November 1962, under UN Resolution No 6363, initiating a number of landmark decisions, such as ...

Aydanur Akkurt - Africa Oil & Power


Posted 4 days agoLink > OPECoil industryinvestment +9

Saudi Aramco – Dividends over Diversification

Aramco is still 98% owned by the Saudi government, and the federal coffers, which run everything from the national airline to plans to open up for official tourism are dependent on the dividends that Aramco pays. With dry season in the oil and gas world setting in, some of these projects must now ...

Hui Shan


Posted 7 days agoLink > Saudi AramcoSaudi ArabiaOPEC +7

The oil industry needs to get used to dwindling demand

Earlier this year, crude oil consumption fell by as much as a third as a result of the coronavirus crisis. But falling demand has been a worry since long before this year. While many in the industry may stick their head in the sand or plug their ears, they need to realise that demand may never full ...

Scott Johnson


Posted 22 days agoOpinion > CoronavirusDemandRenewable Energy +7

Key Upstream Positive Developments Since April 2020

Noble will also bring with it established positions in the Eagle Ford basin, significant US midstream assets and upstream assets in Israel and Equatorial Guinea, swelling Chevron's proven oil and gas reserves by 18%. Neptune Energy hit oil at the Dugong well in the Norwegian North Sea, and China' ...

Hui Shan


Posted 1 month agoLink > OPECRussiaoil price +5

OPEC And The Journey Back to Normal

With just over two weeks to go before the largest coordinated crude oil supply cut in the world is set to expire, the 23-nation club that is OPEC+ gathered to discuss that very issue. OPEC itself predicts that world oil demand by rebound by 7 mmb/d in 2021 from an average of 90 mmb/d in 2020, wit ...

Hui Shan


Posted 1 month agoLink > OPECsaudiRussia +4

From Certain Doom To Cautious Optimism

A perfect storm of events – the Covid-19 lockdowns, the resulting effect on demand, an ongoing oil supply glut, a worrying shortage of storage space and (crucially) the expiry of the NYMEX WTI benchmark contract for May, resulted in US crude oil prices falling as low as -US$37/b. This was seen as ...

Hui Shan


Posted 3 months agoLink > WTIWest Texas IntermediateBrent +8

EIA raises crude oil price outlook slightly as announced supply cuts lead to high inventory draws in 2021

EIA assumes OPEC members will mostly adhere to announced cuts during the first two months of the agreement (May and June) and that production compliance will relax later in the forecast period as stated production cuts are reduced and global oil demand begins growing. From that point, EIA expects ...

Hui Shan


Posted 4 months agoLink > Crude oilLiquid Fuelsnon Opec +7

What, And Where, To Shut?

In the extraordinary OPEC+ and G20 meetings that surrounded the coordinated deal, it was stated that the free market producers – mainly the US, Canada, Brazil and Norway – would make up a further cut of 5 mmb/d through natural ‘market adjustments'. This applies to OPEC states as well, such as Kuw ...

Hui Shan


Posted 4 months agoLink > OPECsaudiRussia +3

Massive revenue shortfall in new state forecasts

The last time state economists released revenue forecasts, New Mexico had a massive oil boom with no end in sight. Those same economists released dire revenue projections on Wednesday, suggesting New Mexico could take in between $1.7 billion and $2.4 billion less than originally expected during t ...

Will Fine


Posted 4 months agoLink > Santa FeSANTAFENewMexico +58

When The Pool Shrinks, The Fish Are Threatened

An entire phalanx of upstream service companies help build, operate and maintain the critical infrastructure necessary to extract oil in its natural form from deep below the ground and send it on its merry way to be turned into fuel for consumption. With all companies slashing upstream capex and ...

Hui Shan


Posted 4 months agoLink > OPECsaudiRussia +3

Equatorial Guinea Minister Implores Companies: ‘Take Charge of Your Industry’

Equatorial Guinea's Minister of Mines and Hydrocarbons H.E. Gabriel Mbaga Obiang Lima encouraged nationals to rise to the challenges posed by COVID-19 in a public webinar on Monday. The webinar was hosted by the Ministry of Mines and Hydrocarbons, in partnership with the African Energy Chamber ...

Aydanur Akkurt - Africa Oil & Power


Posted 4 months agoPress > Equatorial GuineaAOP WebinarAfrica Energy Chamber +4

New Mexico watching as Texas considers limits on oil production

Laws governing oil production in New Mexico stem from the Oil and Gas Act of 1935, which, among many other things, suggests the state can impose statewide caps on oil production, as well as more explicitly allowing it to cap output at specific reservoirs or “pools” of oil to “prevent waste.” If p ...

Will Fine


Posted 4 months agoLink > Dr. Daniel FineFarmington New MexicoGovernor of New Mexico +54

Dr. Daniel Fine & T Greg Merrion on the OIL PRICE WAR and U.S. collapse

Interview with Oil and Gas Expert Dr. Daniel Fine with T.Greg Merrion of Merrion Oil D r. Daniel Fine and T. Greg Merrion of Merrion Oil are experts in their fields.  Dr. Fine raises the fact the oil market was manipulated and explains just how it was done.  T Greg gives an acrual account of from ...

Will Fine


Posted 4 months agoOpinion > oil newsBusinessNewsBusiness news +44

The WTI Oil Price Crash Explained

And now, unprecedented oil prices, as the WTI crude price marker slipped into negative territory for the first time ever. This had the same effect, though different contributing factors  in 2019, when WTI prices were depressed because demand was high but pipeline capacity was insufficient to carr ...

Hui Shan


Posted 4 months agoLink > WTIWest Texas IntermediateBrent +7