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OPEC+ Oil Output Cut Compliance at 101%, Sources Say
2020-12-30 18:05:00| OGI
The OPEC+ group of oil producers fully complied with supply cuts in November, two sources from the alliance told Reuters ahead of the group's Jan. 4 meeting to discuss whether to boost production further.
UAE Emerges as Hub for Avoiding US Oil Sanctions on Venezuela
2020-12-30 11:30:00| OGI
Three UAE entities identified by Reuters have built their fleets since early 2019 with vessels that have since made mainly Venezuela-related journeys, according to vessel tracking data.
Oil Prices Climb on Hopes US Pandemic Stimulus will Spur Fuel Demand
2020-12-29 22:30:00| OGI
WTI, crude futures in the U.S., settled 38 cents, or 0.8%, higher at $48/bbl on Dec. 29, while Brent crude futures settled up 23 cents, or 0.5%, at $51.09/bbl.
Cambodia Starts First Crude Oil Production after Years of Delays
2020-12-29 11:30:00| OGI
Cambodia has begun extracting its first crude oil from fields in the Gulf of Thailand, in a venture between Singapore's KrisEnergy Ltd. and the government, both parties said on Dec. 29, bringing an end to years of delays.
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Rosneft Buys Huge Oil Field in Russian Arctic
2020-12-28 19:10:00| OGI
In a regulatory disclosure, Rosneft said it had bought Taymyrneftegaz, the company controlled by Rosneft's ex-chief Eduard Khudainatov which owns the huge Payakha oil field, for an undisclosed sum.
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