Crude Oil News

 

China's 2020 Refinery Output Rises to Record. Offshore Oil Production Grows

Jan 18, 2021

China's refineries posted record throughput in 2020, processing 3% more crude oil than a year ago, as they took advantage of low prices and healthy margins on a quick rebound in domestic fuel demand from the coronavirus pandemic.Annual throughput stood at 674…

BIMCO: Zero Tonnes of Saudi Crude Oil Imported by the US

Jan 14, 2021

In the seven days up to 1 January 2021, the US did not record any crude oil imports from Saudi Arabia. It is the first time this has happened. Previously, imports have averaged several hundred thousand barrels per day (bpd), BIMCO said in 'BIMCO’s Shipping Number of the Week' report…

Force Majeure Declared at Two Oil Terminals in Malaysia

Jan 04, 2021

Malaysia's Petronas said on Monday force majeure had been declared at its Miri and Cendor crude oil terminals in the final quarter of 2020.Petronas declared force majeure at its Miri crude oil terminal on Oct. 29 as a result of the MV Dayang Topaz vessel collision on Oct…

PetroVietnam Says Annual Output Unaffected by COVID-19

Nov 25, 2020

Vietnam's state oil firm PetroVietnam said on Wednesday it was on track to meet its targeted rate of production this year, despite the impact of the coronavirus pandemic and the fall in global crude oil prices.The company, formally known as Vietnam Oil and Gas Group…

BIMCO on Tanker Shipping; The Worst is Not Over

Nov 25, 2020

While the tanker market had a strong run at the outset of the COVID-19 pandemic, according to a report released this morning by BIMCO, tanker shipping will not benefit this year from the usual strong winter seasonal effect. Though the new lockdowns…

Gulf of Mexico Oil Output Yet to Be Fully Restored After Hurricane

Oct 13, 2020

Energy companies forged ahead restoring oil and natural gas production in the U.S.-regulated northern Gulf of Mexico on Monday, three days after Hurricane Delta made landfall, said the U.S. Bureau of Safety and Environmental Enforcement (BSEE)…

US Gulf Platforms Shutting as Hurricane Delta Strengthens

Oct 06, 2020

Energy companies were securing offshore production platforms and evacuating workers on Tuesday, some for the sixth time this year, as a major hurricane took aim at U.S. oil production in the Gulf of Mexico.Hurricane Delta, the 25th named storm of the 2020 Atlantic Hurricane season…

Norway: Six Offshore Oil Fields Shut as More Workers Join Strike

Oct 06, 2020

Six Norwegian offshore oil and gas fields were shut on Monday as more workers joined a strike over pay, companies and union officials said.The strike will cut Norway's total output capacity by just over 330,000 barrels of oil equivalent per day…

Oil Prices Drop as Demand Worries Counter U.S. Stimulus Hopes

Sep 29, 2020

Oil prices dropped on Tuesday, paring gains from the previous session, as persistent demand concerns due to the coronavirus pandemic outweighed hopes generated by a new U.S. stimulus package that lawmakers are struggling to agree.More than 1…

Hurricane Sally: More Than a Quarter of U.S. Gulf of Mexico Oil Production Shut

Sep 16, 2020

Hurricane Sally crawled offshore along the U.S. Gulf Coast on Wednesday, moving away from oil fields while soaking the region with heavy rains that could damp fuel demand in the U.S. southeast.The hurricane has shut more than a quarter of U…

U.S. Gulf of Mexico Pipeline Won't Resume Full Output Before Oct.1, Operator Says

Sep 11, 2020

A U.S. Gulf of Mexico crude oil pipeline owned by Genesis Energy LP is not expected to be fully restored before Oct. 1, the company said on Thursday, after destructive storms tore through the coastal region late last month.Houston-based Genesis…

Oil Prices Rise on Gulf of Mexico Shutdowns

Aug 25, 2020

Crude oil prices rose on Tuesday, supported by production cuts in the U.S. Gulf Coast as Tropical Storm Laura was forecast to become a major hurricane while rising coronavirus cases in Asia and Europe capped gains.Brent crude oil futures added 37 cents…

Shipments Resume from Pemex FPSO After Collision

Jul 19, 2020

An oil production and storage vessel operated by Mexican state oil firm Pemex in the Gulf of Mexico has resumed crude shipments after a tanker collision halted exports earlier this month, according to a person with knowledge of the matter and data from Refinitiv Eikon…

Norway's Oil Output in June Drops More than Expected

Jul 17, 2020

Norway's June crude oil output fell more than expected from May while natural gas production rose less than expected, the Norwegian Petroleum Directorate said on Friday.Crude oil output fell 12% to 1.54 million barrels per day (bpd) which was 4…

Oil Prices Drop on Demand Recovery Fears, OPEC+ Easing Expectations

Jul 14, 2020

Oil prices fell more than 2% on Tuesday on worries that new clampdowns on businesses to stem surging U.S. coronavirus cases could threaten fuel demand recovery and expectations that OPEC+ might ease output cuts from August in an upcoming meeting…

Current News

BP Suspends Offshore Platform in Azerbaijan for 25-day Maintenance

BP Suspends Offshore Platform in Azerbaijan for 25-day Maintenance

Harbour Energy Seeks to Exit Sea Lion Offshore Project in Falkand Islands

Harbour Energy Seeks to Exit Sea Lion Offshore Project in Falkand Islands

Halliburton to Assist Chariot with Offshore Drilling Operation in Morocco

Halliburton to Assist Chariot with Offshore Drilling Operation in Morocco

ABS Names Lennon VP for Offshore Wind

ABS Names Lennon VP for Offshore Wind

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