petroleum


All posts for petroleum

U.S. Federal Gulf of Mexico crude oil production to continue to set records through 2020

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 16 hours agoLink > ProductionsupplyCrude oil +5

Crude oil used by U.S. refineries continues to get lighter in most regions

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 3 days agoLink > Crude oilProductionsupply +2

Recent decrease in U.S. crude oil production was geographically isolated, likely temporary

Monthly U.S. crude oil production fell by 276,000 barrels per day (b/d) in July 2019, based on the latest data in the U.S. Energy Information Administration's (EIA) Petroleum Supply Monthly. Crude oil production in the Federal Offshore Gulf of Mexico fell by 332,000 b/d in July when some producti ...

Hui Shan


Posted 3 days agoLink > ProductionsupplyLiquid Fuels +3

Billions at Play: The Future of African Energy and Doing Deals

Billions at Play The Future of African Energy and Doing Deals By NJ Ayuk PRESS RELEASE Roadmap for Africa's revitalisation and future growth outlined in landmark book by leading expert who demands that Africans must lead the transformational charge and profit first from their na ...

kelly PIke


Posted 10 days agoPress > AfricaEnergypetroleum +5

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 13 days agoLink > exoprtsImportsLiquid Fuels +3

Join us in London for the Diversity in Energy Summit

An event shaped to tackle the topics of diversity, inclusion and empowerment in the global energy sector. The event organised and hosted by Frontier in the heart of London will also provide an excellent platform where you can bring your companies' prominence and visibility directly to the decision ...

Jodee Lourensz


Posted 15 days agoPress > OilgasEnergy +12

August non-OPEC unplanned oil production outages fell to lowest level since at least 2011

The stock prices of U.S. oil exploration and production (E&P) companies relative to the broader U.S. equity market index have declined since the start of the year. According to the 42 companies' income statements, however, upstream production costs did not increase at the same rate as total outpu ...

Hui Shan


Posted 15 days agoLink > Productionsupplyoutages +4

Saudi Arabia crude oil production outage affects global crude oil and gasoline prices

Although U.S. imports of crude oil from Saudi Arabia have declined during the past three years—and recently hit a four-week average record low of 380,000 b/d in the week ending September 6—the United States still imports about 7 million b/d of crude oil. Saudi Arabia can use these inventories to ...

Hui Shan


Posted 23 days agoLink > pricesInternationalGasoline +6

Equatorial Guinea Petroleum Minister Champions Natural Gas in Africa at Africa Oil & Power 2019

H.E. Gabriel M. Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, will deliver a keynote address at the Africa Oil & Power Conference and Exhibition. Having been a champion of gas developments on the African continent, the minister will lead a delegation of African minister ...

Aydanur Akkurt - Africa Oil & Power


Posted 1 month agoPress > Equatorial Guineacape townAfrica Oil & Power +12

This Week in Petroleum: 2018 OPEC net oil export revenues highest since 2013, but likely to decline

EIA estimates net oil export revenues based on oil production—including crude oil, condensate, and natural gas plant liquids—and total petroleum consumption estimates, as well as crude oil prices forecast in the August 2019 Short-Term Energy Outlook (STEO). EIA's net oil export revenues estimate ...

Hui Shan


Posted 1 month agoLink > exportsImportsInternational +7

TODAY IN ENERGY: The U.S. leads global petroleum and natural gas production with record growth in 2018

For the United States and Russia, petroleum and natural gas production is almost evenly split; Saudi Arabia's production heavily favors petroleum. Petroleum production is composed of several types of liquid fuels, including crude oil and lease condensate, natural gas plant liquids (NGPLs), and bi ...

Hui Shan


Posted 1 month agoLink > ProductionsupplyOil +5

TODAY IN ENERGY: In the United States, most petroleum is consumed in transportation

Facing a tough situation where shale oil prices are depressed due to a lack of infrastructure to send them to the US Gulf Coast for processing and export, independent US shale drillers are facing financial pressure as loans are no longer handed out like candy and investors are demanding results. ...

Hui Shan


Posted 2 months agoLink > transportationConsumptionDemand +3

TODAY IN ENERGY: Saudi Arabia has been exporting more crude oil to China, less to the United States

Four Asia-Pacific countries that publish crude oil imports by country of origin—China, Japan, South Korea, and Taiwan—collectively imported an average of 3.5 million b/d of crude oil from Saudi Arabia in 2018. China's, Japan's, and Taiwan's 2019 year-to-date crude oil imports from Saudi Arabia ar ...

Hui Shan


Posted 2 months agoLink > InternationalChinaSaudi Arabia +7

TODAY IN ENERGY: The Suez Canal and SUMED Pipeline are critical chokepoints for oil and natural gas trade

The Suez Canal and the SUMED Pipeline are strategic routes for Persian Gulf crude oil, petroleum products, and liquefied natural gas (LNG) shipments to Europe and North America. Total oil flows through the Suez Canal and the SUMED pipeline accounted for about 9% of total seaborne traded petroleum ...

Hui Shan


Posted 2 months agoLink > natural gasPipelinesLiquid Fuels +5

Iran drives unplanned OPEC crude oil production outage to highest levels since late 2015

The risk assessment comes as the British warship HMS Montrose had to escort the BP oil tanker British Heritage out of the Persian Gulf into the Indian Ocean from being blocked by Iranian vessels. While a risk premium has already been applied to current oil prices, some analysts are suggesting tha ...

Hui Shan


Posted 2 months agoLink > Productionsupplyoutages +5