World Wide

LNG Prices firm on Chinese, South Korean demand

Asian spot liquefied natural gas (LNG) prices breached the $$9 per million British thermal unit (MMBtu) mark this week, a three-year summer season high driven by crude oil gains, production outages and demand from key Asian consumers.

May 25 2018 - 8:32am

OPEC, Russia Prepared To Raise Oil Output Under US Pressure

Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by some 1 million barrels per day (MMbbl/d), sources said, while OPEC’s chief said a complaint from U.S. President Donald Trump over high prices had triggered the idea of upping output.

May 25 2018 - 7:14am

Report: NOCs Stick To Cost-efficient Strategies As Oil Prices Rise

Many NOCs will continue to spend cautiously as improving oil prices free up cash for more investment, higher production and growing operations outside their borders, a report said.

May 25 2018 - 7:00am

Senate Democrats Want Trump To Prod OPEC To Lower Oil Prices

U.S. Senate Democrats on May 23 urged President Donald Trump to try to prod OPEC to take steps to lower oil prices and suggested that millions of Americans will see tax cut proceeds canceled out by higher fuel costs.

May 24 2018 - 8:35am

ExxonMobil Sets New Targets For Reducing Emissions

The oil major seeks to cut methane leaks by 15% and flared gas by 25% by 2020.

May 24 2018 - 6:00am

Oil Falls As Concern Mounts Over OPEC Supply, Softer Global Growth

Oil fell on May 23, under pressure from a potential increase in OPEC crude output to cool the market’s recent rally and cover any shortfalls in supply from Iran and Venezuela.

May 23 2018 - 8:12am

Oil Price Has Sector’s Investors Eyeing A Windfall

The oil and gas industry is pushing to improve returns as it rebounds from a long downturn.

May 23 2018 - 7:30am

Brent Tilts Into The Red, But US-China Trade Truce Limits Losses

Outlook may depend on meeting of oil ministers from Saudi Arabia, UAE and Russia later this week.

May 21 2018 - 9:35am

Santos Gets Final Sweetened $10.8 Billion Bid From Harbour

A successful bid would give Harbour access to a recently revived company with a low cost of gas production and stakes in LNG in the Asia-Pacific, where demand is soaring.

May 21 2018 - 7:15am

Saudi Arabia Assures On Supply As Oil Hits $80

Falih also said he had reassured the executive director of the IEA of "commitment to the stability of oil markets and the global economy" and that he would contact others.

May 18 2018 - 8:00am