Tag Archive

The Oil Crisis Saudi Arabia Can’t Solve

The Oil Crisis Saudi Arabia Can’t Solve

July 23, 2019 No Comments

Saudi Arabia’s CEO Amin Nasr’s message to the press that oil flows to the market are guaranteed, should be taken with a pinch of salt.  Looking at the current volatility in the Persian/Arabian Gulf and the possibility of a temporary closure of the Strait of Hormuz, the Aramco CEO’s message might be a bit overoptimistic. In reality, […]

Nigeria aims to Supply 10 Per Cent of India’s National Crude Oil Demand

Nigeria aims to Supply 10 Per Cent of India’s National Crude Oil Demand

July 22, 2019 No Comments

The Nigerian National Petroleum Corporation (NNPC) has expressed its readiness to continue to supply 10 per cent of India’s crude oil demand in the face of competing demand for the product from other countries. This commitment was made by the Group Managing Director of the NNPC, Mallam Mele Kyari, during a visit by the Indian […]

NNPC Records Trading Surplus of N6.33billon in May

NNPC Records Trading Surplus of N6.33billon in May

July 22, 2019 No Comments

The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of N6.33 billon for the month of May 2019, a figure which is 13 per cent higher than the N5.60 billion surplus posted in the preceding month of April 2019. Details of the report contained in the May 2019 edition of the NNPC Monthly […]

Iraq and Oman sign MoU on cooperation in the oil and gas sector

Iraq and Oman sign MoU on cooperation in the oil and gas sector

July 8, 2019 No Comments

Iraq and Oman have signed a memorandum of understanding (MoU) for cooperation in the oil and gas sector. The MoU also includes the possibility of building a shared refinery in Oman for processing imported Iraqi crude, the Iraqi oil ministry said in a statement. According to the MoU, Iraq will aim to export crude to […]

ADNOC Closes on Pipeline Infrastructure Investment With KKR and BlackRock

ADNOC Closes on Pipeline Infrastructure Investment With KKR and BlackRock

June 28, 2019 No Comments

The Abu Dhabi National Oil Company (ADNOC) announced today that it has closed its pioneering pipeline infrastructure investment agreement with BlackRock and KKR. The transaction was originally announced in February of this year when KKR and BlackRock signed an initial investment agreement to invest $4 billion into the midstream pipeline assets. Following this announcement the […]

Aramco signs 12 agreements with South Korean partners worth billions of dollars

Aramco signs 12 agreements with South Korean partners worth billions of dollars

June 26, 2019 No Comments

Saudi Aramco and its affiliates signed 12 agreements with major South Korean companies to reinforce relationships with South Korea, expand international operations, and support the region’s energy security with the expansion of Arabian crude oil supply to Asian markets. Commenting on the agreements, Saudi Aramco President and CEO, Amin H. Nasser, said: “Only a few […]

Crude Oil Price Movement to 13/06/19

Crude Oil Price Movement to 13/06/19

June 13, 2019 No Comments

The price of OPEC basket of fourteen crudes stood at $61.01 a barrel on Wednesday, 12 June 2019, compared with $62.56 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 […]

Shell agrees to sell Martinez Refinery

Shell agrees to sell Martinez Refinery

June 12, 2019 No Comments

Equilon Enterprises LLC d/b/a Shell Oil Products US (Shell), a subsidiary of Royal Dutch Shell plc announced it has reached an agreement for the sale of Shell’s Martinez Refinery in California to PBF Holding Company LLC, a subsidiary of PBF Energy, Inc., for $1.0 billion consideration plus the value of hydrocarbon inventory, crude oil supply […]

OPEC launches 2019 Annual Statistical Bulletin

OPEC launches 2019 Annual Statistical Bulletin

June 5, 2019 No Comments

OPEC Secretariat announced the release of the 54th edition of the Annual Statistical Bulletin (ASB). The ASB provides a wide range of data on the oil and gas industry worldwide, serving as an important source of reliable information for research analysts and academics, as well as policymakers and other industry stakeholders. The publication provides detailed and comprehensive time-series […]

Is President Trump Reversing Course On Iran?

Is President Trump Reversing Course On Iran?

June 4, 2019 No Comments

The Trump administration is attempting to dial down the tension with Iran, lowering the risk of military conflict and pushing for diplomatic negotiations. On Sunday, U.S. Secretary of State Mike Pompeo said that the U.S. was ready to negotiate with Iran with “no preconditions,” a shift in strategy after laying out a list of 12 […]

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