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Saudi Aramco signs crude oil supply deals at China International Import Expo

Saudi Aramco signs crude oil supply deals at China International Import Expo

November 7, 2019 No Comments

Saudi Aramco signed crude oil sales agreements for 2020 with five Chinese customers, increasing total volume by 151,000 barrels per day compared to their 2019 supply contracts. These new sales agreements further solidify the Company’s position as China’s top crude supplier. These five new agreements were signed separately on the sideline of the second China […]

Ecuador Declares Force Majeure On All Oil Operations

Ecuador Declares Force Majeure On All Oil Operations

October 11, 2019 No Comments

Ecuador’s state-run oil company, declared on Wednesday a force majeure on all oil trading operations, according to an evening Tweet by Petroecuador, citing mass protests that have disrupted the country’s oil industry. Petroecuador also said that it had completely shut down the TransEcuadorean Pipeline System known as SOTE, which normally carries 360,000 barrels per day, […]

International Energy Outlook 2019 projects nearly 50% increase in world energy usage by 2050

International Energy Outlook 2019 projects nearly 50% increase in world energy usage by 2050

September 25, 2019 No Comments

In its International Energy Outlook 2019 (IEO2019), the U.S. Energy Information Administration (EIA) projects that world energy consumption will grow by nearly 50% between 2018 and 2050. EIA projects most of this growth will come from regions where the consumption of energy is driven by strong economic growth, particularly in non-OECD Asia. EIA’s annual long-term […]

Energy Transfer LP to acquire Tulsa, Okla.-based SemGroup Corp.

Energy Transfer LP to acquire Tulsa, Okla.-based SemGroup Corp.

September 17, 2019 No Comments

Energy Transfer LP (NYSE: ET) (“ET” or “Energy Transfer”) today announced that it has entered into a definitive merger agreement whereby Energy Transfer will acquire SemGroup Corporation (NYSE: SEMG) (“SemGroup”) in a unit and cash transaction valued at $17 per share, or a total consideration including the assumption of debt of approximately $5 billion, based […]

Houthi drone attacks on 2 Saudi Aramco oil facilities

Houthi drone attacks on 2 Saudi Aramco oil facilities

September 15, 2019 No Comments

Incidents at Abqaiq and Khurais Saudi Aramco emergency crews contained fires at its plants in Abqaiq and Khurais, as a result of terrorist attacks with projectiles. These attacks resulted in production suspension of 5.7 million barrels of crude oil per day. After visiting the incident locations, Amin H. Nasser, Saudi Aramco President & CEO, said: […]

NNPC, Navy to Deepen Collaboration to Stem Crude Oil Theft

NNPC, Navy to Deepen Collaboration to Stem Crude Oil Theft

September 9, 2019 No Comments

Nigerian National Petroleum Corporation (NNPC) and the Nigerian Navy have pledged to deepen collaboration to tackle the menace of crude oil theft and attacks on oil and gas facilities. The two organisations came to the resolution when the NNPC GMD, Mallam Mele Kyari paid a courtesy visit to the Chief of Naval Staff, Vice Admiral […]

NNPC, Navy to Deepen Collaboration to Stem Crude Oil Theft

NNPC, Navy to Deepen Collaboration to Stem Crude Oil Theft

September 5, 2019 No Comments

The Nigerian National Petroleum Corporation (NNPC) and the Nigerian Navy have pledged to deepen collaboration to tackle the menace of crude oil theft and attacks on oil and gas facilities. The two organisations came to the resolution when the NNPC GMD, Mallam Mele Kyari paid a courtesy visit to the Chief of Naval Staff, Vice […]

Saudi Aramco signs MoU with China Zhejiang Free Trade Zone

Saudi Aramco signs MoU with China Zhejiang Free Trade Zone

September 5, 2019 No Comments

Saudi Aramco today signed a Memorandum of Understanding (“MoU”) with China’s Zhejiang Free Trade Zone, in which the Zhoushan Government emphasized its support for incentivizing Saudi Aramco’s greater investment in Zhejiang’s future downstream growth. The MoU was signed in conjunction with a visit to Saudi Aramco’s headquarters in Dhahran by Yuan Jiajun, Governor of the […]

CME Group Reaches Second-Highest Monthly Volume Ever

CME Group Reaches Second-Highest Monthly Volume Ever

September 4, 2019 No Comments

 CME Group , the world’s leading and most diverse derivatives marketplace, reached average daily volume (ADV) of 24.3 million contracts during August 2019, up 53% from August 2018 and the second-highest monthly ADV on record. During a month that historically sees lower average daily volumes, August 2019 was the company’s best August ever. Open interest (OI) at the end of […]

U.S. Is Now Largest Oil and Gas Producer In The World

U.S. Is Now Largest Oil and Gas Producer In The World

August 21, 2019 No Comments

Petroleum and natural gas production in the United States jumped by 16 percent and 12 percent, respectively, in 2018, setting new production records and placing the United States as the world’s single largest producer of oil and natural gas, the Energy Information Administration (EIA) said on Tuesday. The U.S. had already surpassed Russia as the world’s biggest […]

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