Cost of Norway’s oil and gas projects surge by $1.4 billion due to pandemic
Oct 08, 2020 01:42 am UTC| Business
The costs of Norways ongoing offshore oil and gas projects jumped by $1.4 billion from a year ago as COVID-19 restrictions stalled construction. But oil company Equinor assured that the combined project portfolio is...
US oil: 161.8% fib and trend line breakout
Jul 30, 2020 09:23 am UTC| Technicals
Ichimoku Analysis (4-hour Chart) Tenken-Sen- $41 Kijun-Sen- $41.18 WTI crude oil is trading weak for 2nd consecutive day and lost more than 0.80 cents. The commodity has halted its ten days of bullishness on...
Oil and gas firms agree on joint targets in reducing greenhouse gas emissions
Jul 20, 2020 15:51 pm UTC| Business
Oil and Gas Climate Initiative (OGCI) members have jointly agreed to reduce their greenhouse gas emissions to not more than 21 kilograms of carbon dioxide equivalent (COE) per barrel of oil equivalent (BOE) by 2025, from...
OPEC insists it did not intend to drive US shale out of business
Jul 10, 2020 00:50 am UTC| Economy
OPEC Secretary Mohammad Barkindo said the group did not intend to drive US shale oil producers out of business, in response to US barrels price briefly turning negative in April. In April, the group agreed on the single...
China turns to ships to store an enormous amount of oil
Jul 02, 2020 11:28 am UTC| Business
China is storing the 73 million barrels of oil it bought cheaply in March and April on 59 ships left floating at sea off its northern coast. The said amount of oil is three-quarters of global demand. According to...
Yemen eyes 25% oil output increase within months
Jun 16, 2020 19:01 pm UTC| Economy
Yemen aims to increase its crude oil production by 25 percent to 75,000 barrels per day in the coming months to recover from the drastically reduced output caused by the civil war. Yemen produced around 127,000 barrels...
WTI Whipsaws Pattern Halts Interim Upswings – Trading & Hedging Setup
May 13, 2020 11:50 am UTC| Technicals
Global crude oil futures prices have eased data from the American Petroleum Institute suggesting that U.S. stockpiles rose by more than forecast last week. With WTI is edging higher $26 a barrel and Brent futures inched...
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