IEA positive about oil market upturn

June 14, 2016 0

The IEA announced today that the global oil market would balance itself out in 2017 as demand continues to rise faster than production, while the current oversupply is much smaller than previously thought. The IEA […]

Azerbaijan prepares to sign contracts for two fields

June 1, 2016 0

Azerbaijan is preparing to sign major contracts with multinational oil companies seeking to develop the Umid and Babek gas fields. The news was confirmed by Vagif Aliyev, head of Socar’s investments department. Aliyev, speaking to […]

Oil deal falls apart

April 18, 2016 0

Major oil producers failed to reach an agreement to cap production at recent levels. The North Sea benchmark Brent was down four percent on Monday trading at $41.36 per barrel. West Texas Intermediate crude fell […]

The U.S. Is Exporting Its Oil Everywhere

March 21, 2016 0

Three months since the U.S. lifted a 40-year ban on oil exports, American crude is flowing to virtually every corner of the market and reshaping the world’s energy map. QUICKTAKE Overseas sales, which started on […]

Angola LNG project to restart in July

March 16, 2016 0

Angola LNG will be brought back online by July 2016, according to reports from China. José Maria Botélho de Vasconcelos, Angola’s Minister of Petroleum, made the announcement on Wednesday 16 March 2016. The USD 10-billion, […]

Iranian oil in Europe

March 7, 2016 0

The Monte Toledo oil tanker covered the uneventful voyage from Iran to Europe with a haul of 1 million barrels of crude in just 17 days, but its journey has been four years in the […]

Oil price rises, but glut still looms

March 7, 2016 0

Oil prices extended gains on Monday that have lifted crude benchmarks by more than a third from this year’s lows, as tightening supply and an improving global outlook strengthened the sentiment for a market recovery. […]

Three injured in Noble rig damage

March 3, 2016 0

Damage on the Noble Lloyd Noble jackup is minor and the rig’s scheduled delivery in Q2 2016 will not be affected, but three workers sustained minor injuries. A Sembcorp Marine spokesman told AOG in a […]

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