Oil prices lost ground on Friday amid uncertainty surrounding the U.S. president’s health. A weak unemployment report and increased supply from major world oil producers put extra pressure on prices. As a result, Brent crude fell by 4.1% to settle at $39.27 a barrel. Meanwhile, WTI futures declined by 4.3% to $37.05 a barrel.
read more... 05/10/2020
The project, which covers one hectare of water surface is forecast to generate enough electricity to power 200 homes
read more... 05/10/2020
Norway's oil and gas production risks being cut by about 8%, or 330,000 b/d of oil equivalent, from the morning of Oct. 5 due to a strike over pay by an offshore managers' union, industry group Norwegian Oil & Gas said Oct. 2.
read more... 05/10/2020
The port city of Hai Phong in Vietnam has approved a liquefied natural gas (LNG) project for power generation, expected to be developed by U.S. supermajor ExxonMobil and to cost US$5.09 billion.
read more... 05/10/2020
Oil prices dipped to a two-week low on Thursday as coronavirus flareup is causing renewed concerns over more lockdown measures, clouding the demand outlook. Moreover, a rise in OPEC output in September added further pressure on oil prices. Hence, Brent crude fell by $1.37, or 3.2%, to settle at $40.93 a barrel. Meanwhile, U.S. WTI crude shed by $1.50, or 3.7%, to close at $38.72 a barrel. In September, Brent lost 9.56%, while WTI 5.61%. This is the first month of decline since April.
read more... 02/10/2020