China


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Oil and gas industry faces huge loss

BY KEVIN ROBINSON-AVILA AND DAN BOYD / ALBUQUERQUE JOURNAL STAFF WRITERS Published: Thursday, March 19th, 2020 at 5:04pm Updated: Thursday, March 19th, 2020 at 9:55pm " Copyright © 2020 Albuquerque Journal With oil prices plunging to their lowest level in 22 years, state legislators are proje ...

Will Fine


Posted 15 days agoOpinion > Farmington New MexicoDelaware BasinWest Texas Delaware Basin USA +63

Potential Outcome Scenarios for Covid-19 And Oil Markets

There are two items dominating the headlines in the energy sector at the moment: the global Covid-19 pandemic and the alarming decision of Saudi Arabia and Russia to go head-to-head in a price war. Scenario 2: Fast Covid-19 containment but slow resolution to the price war or Prolonged Covid-19 pa ...

Hui Shan


Posted 17 days agoLink > Covid19ChinaItaly +8

Surigo Mining Area In The Philippines May Implement A Blockade Policy. What Is The Impact Of Chinese Nickel Ore Imports?

Surigo Mining Area In The Philippines May Implement A Blockade Policy. What Is The Impact Of Chinese Nickel Ore Imports? According to the latest news, due to the impact of COVID-19, the port city of Surigao in the Philippines will be blocked from March 18 to March 31, and all foreign ships enterin ...

roger chen - kaysuns industry limited


Posted 22 days agoPress > Philippinesnickel oreChina +1

The Impact Of The Covid-19 Outbreak In Global Oil Markets

Iran now seems to be a hotbed of infection, with over 1,500 cases reported and 66 deaths recorded; the Covid-19's average fatality rate of 2% suggests that reported cases in Iran are underestimated. Of course, this would have a positive impact on prices, but on the whole, for the oil world to dea ...

Hui Shan


Posted 1 month agoLink > Covid19ChinaItaly +4

This Week in Petroleum

U.S. crude oil exports to China, the third-largest export destination in 2018, fell by nearly 100,000 b/d to average 133,000 b/d in 2019. The eight destinations in Asia and Oceania represent 1.3 million b/d, or a 43% share of total U.S. crude oil exports in 2019, and the five destinations in Euro ...

Hui Shan


Posted 1 month agoLink > ChinaCrude oilexports +2

The Wuhan Coronavirus Outbreak And Its Implications To Oil Demand

As the extent of pandemic became apparent, Wuhan was placed on virtual lockdown on 23 January; several other cities in Hubei – totalling almost 60 million people – followed suit. In China, the SARS effects on oil demand was broadly localised to one quarter – Q2 – and then also localised to one pr ...

Hui Shan


Posted 2 months agoLink > WuhanCoronavirusSars +1

Changes to China's Tax Treatment of Fuel Oil Shakes Up Bunker Market

IMO 2020 leads to important changes in the bunker, fuel oil, and refining sectors in China that could bring about tax changes as China eyes new opportunity The IMO specification change will limit Sulphur content in ships' fuel oil from 3.5 to 0.5 percent from January 2020. This will shift a la ...

Jake Wright


Posted 4 months agoPress > Chinafuel oilBunker +7

Brazil's Vale (Vale SA) Will Restart The Operation Of The Alegria Mine

Brazil's Vale (Vale SA) Will Restart The Operation Of The Alegria Mine According to reports, the Brazilian miner Vale SA recently stated that it has been authorized by the Brazilian regulator ANM to resume its Alegria mine operation. In March last year, after a “stress test” failed to guarantee it ...

roger chen - kaysuns industry limited


Posted 5 months agoPress > VALE SAKAYSUNSmine news +1

EIA projects that natural gas consumption in Asia will continue to outpace supply

According to the U.S. Energy Information Administration's (EIA) latest International Energy Outlook 2019 (IEO2019) Reference case, future growth in natural gas consumption is concentrated in developing nations—those outside of the Organization for Economic Cooperation and Development (OECD)—especi ...

Hui Shan


Posted 5 months agoLink > ConsumptionDemandInternational +5

China adds incentives for domestic natural gas production as imports increase

Natural gas production has recently grown in China largely because of increased development in low-permeability formations in the form of tight gas, shale gas, and to a lesser extent, coalbed methane. In June 2019, the Chinese government introduced a subsidy program that established new incentive ...

Hui Shan


Posted 5 months agoLink > ProductionsupplyConsumption +9

EIA forecasts lower crude oil prices despite tighter global liquid fuels balances

Despite tighter forecast global petroleum markets in the second half of 2019, EIA expects that the Brent crude oil price will average $60.63/b in the second half of 2019, nearly unchanged from the $60.68/b forecast in the September STEO. EIA forecasts that global petroleum inventories will increa ...

Hui Shan


Posted 5 months agoLink > CanadaChinaCrude oil +4

This Week in Petroleum: U.S. crude oil exports continued to grow in the first half of 2019

In the first half of 2019, U.S. exports of crude oil increased to average 2.9 million barrels per day (b/d), an increase of 966,000 b/d from the first half of 2018. U.S. crude oil exports to Asia grew significantly in the first half of 2019, up 472,000 b/d (58%) compared with the same period in 2 ...

Hui Shan


Posted 6 months agoLink > CanadaChinaCrude oil +4

Building a prosperous and free Somalia through the Rule of Law

Opinion article by His Excellency Abdirashid Mohamed Ahmed, The Minister of Petroleum & Mineral Resources of The Federal Republic of Somalia As Dwight D. Eisenhower said: “The clearest way to show what the rule of law means to us in everyday life is to recall what has happened when there is no r ...

Aydanur Akkurt - Africa Oil & Power


Posted 7 months agoOpinion > SomaliaLawOil Blocks +5

Angola Announces Public Tender For Soyo Refinery

The Ministry of Mineral Resources and Petroleum of Angola will launch a public tender for the construction of the Soyo refinery. Initially announced in 2015, the construction of the refinery has since been put on hold. The tender reflects Angola's efforts to boost domestic refining capacity. ...

Aydanur Akkurt - Africa Oil & Power


Posted 7 months agoPress > LuandaAngolaCrude oil +2

TODAY IN ENERGY: U.S. LNG exports to Europe increase amid declining demand and spot LNG prices in Asia

A warm winter in Asia and declining price differentials between European and Asian spot natural gas prices led to increased volumes of U.S. LNG exports delivered to Europe. Recent declines in price differentials between European pricing benchmarks (including National Balancing Point (NBP) in the ...

Hui Shan


Posted 8 months agoLink > pricesConsumptionDemand +9