Latest news
LNG suppliers flood market with excess spot cargoes as demand shrinks
Liquefied natural gas (LNG) suppliers are flooding the market with excess spot cargoes, generating fresh headwinds for prices, as demand dwindles globally because the coronavirus outbreak has disrupted industrial output and people’s movement.
read more... 30/03/2020
China buys record volume of Russian oil as European demand dives: traders
China is buying a record 1.6 million tonnes of Russian oil for loading at sea over the next four weeks, taking advantage of rock bottom prices for Russia’s flagship Urals grade combined with a collapse in demand in Europe, traders said on Wednesday.
read more... 26/03/2020
Equinor slashes investment, spending in $3 billion coronavirus package
Norwegian oil firm Equinor will cut investments, exploration drilling and operating costs as part of a $3 billion plan to help the company weather the coronavirus crisis and low oil prices, it said on Wednesday.
read more... 25/03/2020
Developing nations may lose up to 85% of oil and gas income this year - IEA, OPEC
Developing nations’ oil and gas income will fall by 50% to 85% this year to a more than two-decade low if current market conditions persist, the International Energy Agency and OPEC said in a rare joint statement on Monday, citing recent IEA analysis.
read more... 17/03/2020
Russia has potential to produce 160 mln T of LNG a year -Novatek CEO
Russia has the potential to produce 160 million tonnes of liquefied natural gas (LNG) a year, the chief executive of independent gas producer Novatek , Leonid Mikhelson, said on Wednesday.
read more... 16/03/2020