Tag Archive

Oil Market remaining calm – IEA Reports

Oil Market remaining calm – IEA Reports

May 17, 2019 No Comments

The ongoing geopolitical supply concerns around Libya, Iran, and Venezuela have been joined in the past few days by the attacks on shipping off Fujairah and on two pumping stations in Saudi Arabia. At the time of writing, there is no disruption to oil supplies and prices are little changed. The IEA is monitoring the […]

Africa Oil 2019 First Quarter Financial and Operating Results

Africa Oil 2019 First Quarter Financial and Operating Results

May 10, 2019 No Comments

 Africa Oil Corp. (“Africa Oil” or the “Company”) announced its financial and operating results for the three months ended March 31, 2019. View PDF version. HIGHLIGHTS: The Company ended the quarter with cash of $355.2 million and working capital of $321.9 million; During the first quarter of 2019, the Company completed the acquisition of an additional 19,890,560 shares of Impact Oil […]

Drilled but uncompleted wells in USA

Drilled but uncompleted wells in USA

May 7, 2019 No Comments

The number of drilled but uncompleted wells in seven key oil and natural gas production regions in the United States has increased over the last two years, reaching a high of 8,504 wells in February 2019, according to well counts in EIA’s Drilling Productivity Report (DPR). The most recent count, at 8,500 wells in March […]

Occidental Announces 1st Quarter 2019 Results

Occidental Announces 1st Quarter 2019 Results

May 6, 2019 No Comments

Occidental Petroleum Announces 4th Quarter and Full Year 2018 Results Occidental Petroleum reports 2018 net income of $4.1 billion with ROCE of 14%, the highest since 2014 portfolio optimization; returns more than $3.6 billion to shareholders Q4 cash flow from operations before working capital of $1.9 billion funded capital expenditures and dividends Reserve replacement of […]

Can Saudi Arabia Still Sway The Oil Market?

Can Saudi Arabia Still Sway The Oil Market?

April 23, 2019 No Comments

Saudi Arabia, the world’s top oil exporter and OPEC’s largest producer, has influenced the oil market and oil flows since the middle of the 20th century. Shortly after the 21st century began, one of Saudi Arabia’s key customers made its first steps toward becoming one of the Kingdom’s main competitors on the global oil market: […]

SECURE Energy Acquires Cushing Crude Oil Storage Infrastructure

SECURE Energy Acquires Cushing Crude Oil Storage Infrastructure

April 18, 2019 No Comments

Secure Energy Services Inc. (“Secure” or the “Corporation”) (TSX – SES) announced the completion of two tuck-in acquisitions, providing the Corporation with a strategic midstream footprint in one of the largest crude oil storage and trading hubs in North America. The Corporation has acquired a 27% interest in a crude oil storage facility comprised of […]

Saudi Aramco to acquire stake in Hyundai Oilbank

Saudi Aramco to acquire stake in Hyundai Oilbank

April 15, 2019 No Comments

The Saudi Arabian Oil Company (Saudi Aramco) and Hyundai Heavy Industries Holdings today announced that they have reached an agreement for Saudi Aramco’s subsidiary, Aramco Overseas Company B.V (AOC), to purchase a 17% stake in South Korea’s Hyundai Oilbank, a subsidiary of Hyundai Heavy Industries Holdings. The investment is valued at approximately $ 1.25 billion. […]

Aramco Trading signs Supply Agreement with “PKN Orlen”

Aramco Trading signs Supply Agreement with “PKN Orlen”

April 11, 2019 No Comments

Aramco Trading expands collaborations in key European markets by signing Supply Agreement with “PKN Orlen”, Poland’s leading oil refiner. Agreement highlights Saudi Aramco’s commitment to the Polish market and its strategy to enhance the integration of its downstream network in Europe. Saudi Aramco is expanding collaborations in key European markets to produce critical feedstock for […]

Crude Oil Price Movement to 09/04/19

Crude Oil Price Movement to 09/04/19

April 10, 2019 No Comments

The price of OPEC basket of fourteen crudes stood at $70.35 a barrel on Tuesday, 9 April 2019, compared with $70.33 the previous day, according to OPEC Secretariat calculations.. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

BP publishes template for LNG transactions

BP publishes template for LNG transactions

April 10, 2019 No Comments

BP, one of the world’s leading producers and traders of liquefied natural gas (LNG), is the first major oil and gas business to publish its LNG Master Sale and Purchase Agreement template for Delivered Ex-Ship transactions (the BP DES LNG MSA). The BP DES LNG MSA allows either party to buy or sell physical LNG […]

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