09/07/2015
by Mikael Holter No one can accuse the Norwegian government of being greedy when it last week decided on the ownership stakes in the giant Johan Sverdrup oil discovery. After months of deliberation, the Petroleum and Energy Ministry’s decisio..
09/07/2015
Myles Udland In early afternoon trade on Monday, West Texas Intermediate crude oil was down over 7.8% to as low as $52.48 a barrel. This is the biggest intraday move for crude oil since February and the lowest price for WTI crude since early April...
09/07/2015
NYC-based PIRA Energy Group believes that crude stock draws have already begun and will pick up momentum in the third quarter. In the U.S., crude and products stocks showed builds. In Japan, crude runs fell marginally and imports dropped back such th..
09/07/2015
Greg Sharenow, PIMCO While markets focus on Greece, historic negotiations between Iran and the P5+1 (U.K., U.S., France, Germany, Russia and China) over the status of Iran’s nuclear program are approaching a July 7 deadline in Vienna. News r..
09/07/2015
Saudi Arabia has cut the official selling price (OSP) for its benchmark Arab Light crude to Asia in August, as expected, while raising the price to European customers. State oil company Aramco has lowered the August price for its Arab Light grade ..
09/07/2015
Elena Holodny An Iran nuclear deal could mean bad news for the Russian oil business. The most obvious source of pain: The re-introduction of Iranian oil on the market after sanctions are lifted could push oil prices down again. Given Russia's depe..
08/07/2015
Gasoline, diesel, kerosene and mazut prices slightly reduced yesterday, announced the Ministry of Industry and Trade and the Ministry of Finance. Ron 92 and ethanol gasoline E5 prices slid by VND331 to VND20,380 and VND20,050 a liter. Diesel a..
08/07/2015
Despite climbing production indexes, the national oil and gas group PetroVietnam saw its half-year revenue reduce by 8 percent annually due to dropping oil prices. The group’s Vice Director Do Chi Thanh unveiled the information at an onlin..
08/07/2015
Binh Son Refining and Petrochemical Company Limited (BSR) has started negotiating with wholesalers over Dung Quat Refinery's fuel products in the second half of this year. The negotiations are held amid high inventory. Dinh Van Ngoc, director o..
08/07/2015
The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector, a report said, noting that the current fluctuations may speed up some of the trends that were already unfolding. The new report entitled &ldq..
08/07/2015
Towards the end of last year I had a couple of posts, the first explaining the oil price crash of 2014 in terms of a simple supply-demand model and the second using this model to anticipate where the oil price may head in 2015 and 2016. In light of t..
07/07/2015
Despite oil prices plummeting over the past year, falling from around $100 per barrel to now under $60 per barrel, the U.S. shale industry has proved resilient. There have been a few bankruptcies and a significant decline in revenues for drillers acr..
06/07/2015
Oil prices are likely to be stable for the rest of this year and climb in 2016 and 2017 as global demand picks up, shrugging off setbacks from the Greek debt crisis and the possible lifting of sanctions on Iran, a Reuters poll has forecast. ..
06/07/2015
With this transaction, Total will own 100 per cent of Totalgaz Viet Nam, a part of its commitment in investing in the country for the long term. — Photo dddn HCM CITY (Biz Hub) — Oil and gas company Tota..
06/07/2015
By Robert Rapier on Jul 2, 2015 Given the amount of air time the crude oil storage situation received back in March and April, this might be a good time to revisit that situation. If you recall, there was a great amount of hand-wringing regarding ..
06/07/2015
LONDON: Benchmark crude oil prices have barely moved for more than two months, implying the market has found a temporary equilibrium after the enormous price shock in the second half of 2014 and early 2015. Over the last 30 trading days, the range b..
06/07/2015
Refiners in South Korea, the world’s fifth-largest crude oil importer, have stepped up spot purchases this year, buying at prices depressed by an oil glut as they run their plants at high rates to catch strong processing margins. With the Or..
06/07/2015
Saudi Arabia is the biggest oil exporter in the world. However, this status may be threatened as a result of domestic oil consumption. Several recent studies predict that Saudi Arabia will be a net oil importer by 2030 or 2038. Other regional ene..
06/07/2015
When we first started getting substantial oil from fracking and horizontal drilling, the news about costs indicated that oil production would decline at a fast rate when prices were low, pushing prices back up. New data, however, argue for rising pro..
03/07/2015
Scott Weeden, Senior Editor, Drilling Fewer wells are being drilled, yet oil and gas production remains at very high levels, with natural gas and crude oil storage heading for record volumes. Operators continue to push for even greater cost reductio..
03/07/2015
Mark J. Perry @Mark_J_Perry The Energy Information Administration released monthly oil production today for April and here are some of the highlights of that report: 1. Despite low oil prices that averaged $54.45 per barrel in April, US oil pr..
26/06/2015
Kenneth Rapoza Two things put Brazil’s oil wealth in the public eye again this year. One good. One not so good. First the not so good: Petrobras. The state-owned oil firm is up to its eyeballs in scandal. It’s led to the bankruptcy..
24/06/2015
Weekly CFTC Commitment of Traders Report WTI Crude Oil Futures: Net Speculator Positions CFTC COT data shows speculator’s trimmed oil bets last week WTI Crude Oil Non-Commercial Positions: Futures market traders and large oil speculators de..
24/06/2015
I hope you didn't expect $2 gasoline to last, because it's long gone throughout the country and some states are already well over $3 per gallon again. Oil prices in general have climbed 25% since mid-January, and retail gasoline prices are up 33% ..
24/06/2015
Preliminay estimates from the industry, shows that it expects total investments in oil and gas activity in 2016, including pipeline transportation, to be NOK 184.9 billion. This preliminary estimate is 1.4 per cent higher than the corresponding estim..
23/06/2015
Nicole Friedman In today’s oil market, even the data providers are frustrated with the data. Market watchers have become obsessed in recent weeks with “missing barrels,” or the idea that total supply-and-demand figures from fore..
22/06/2015
Offshore staff LONDON – SOCO International says production from the Te Giac Trang (TGT) field offshore southern Vietnam has averaged nearly 34,000 boe/d so far this year. The figure is slightly below expectations due to drilling ..
22/06/2015
The latest OPEC Monthly Oil Market Report is out. There were no big surprises. (click to enlarge) OPEC crude only production was up 23,000 bpd in May, but that was after April had been revised upward by 110,000 bpd. (click to enlarge) Alm..
19/06/2015
* IEA raises 2015 demand growth forecast by 280,000 bpd * Sees demand growth slowing in second half of 2015 * IEA sees higher 2015 demand growth than OPEC, U.S. govt * Sees OPEC output staying high, lifts non-OPEC supply view * For tabl..
19/06/2015
OPEC’s biggest members are pumping record amounts of crude and this year’s rally in prices is under threat, the International Energy Agency said. Saudi Arabia, Iraq and the United Arab Emirates, accounting for at least 18 pe..
19/06/2015
Oil-importing nations bought the most Iranian crude last month since world powers tightened sanctions on the country three years ago, according to the International Energy Agency. Imports of Iranian crude reached 1.4 million barrels a day in May, up..
15/06/2015
The shale oil boom that turned the U.S. into the world’s largest fuel exporter and brought $3 gasoline back to America’s pumps is grinding to a halt. Crude output from the prolific tight-rock formations such as North Dakota&rsquo..
15/06/2015
6/8/2015 VANCOUVER, British Columbia -- Mitra Energy, through its subsidiary operating company Mitra Energy (Vietnam Phu Khanh), commenced 3D seismic survey acquisition operations in the Block 127 PSC area, offshore Vietnam. CG..
15/06/2015
HANOI, 17 hours, 21 minutes ago PetroVietnam Fertilizer and Chemicals Corporation, a subsidiary of PetroVietnam group, said it has awarded a $237 million expansion contract to a consortium including Technip and Thyssenkrupp Industrial Solution..
08/06/2015
The June OPEC meeting should not bring too many surprises, as the cartel’s unofficial leader, Saudi Arabia, will not support production cuts in order to boost falling prices, but will instead focus on preserving its global market share. OPEC&r..
08/06/2015
Anthony Mirhaydari, The Fiscal Times Over the last few weeks, it seems like all of Wall Street has fallen asleep. Or perhaps gone on an early summer vacation. The Dow Jones Industrial Average has settled back toward 18,000, a threshold first crosse..
08/06/2015
Barclays lists what the cartel won’t do and tackles what traders are thinking Members of the Organization of the Exporting Countries are expected to leave their oil-production ceiling unchanged at their semiannual meeting on Friday, but what t..
08/06/2015
The cartel is expected to earn $380 billion selling their oil this year, a $350 billion drop from 2014 Abu Dhabi: Gulf countries are likely to feel the heat of revenue loss if oil production is not slashed at the crucial Organisation of the Petrol..
08/06/2015
Weak global economic growth momentum and a supply glut will cap oil prices at around $60 for the rest of 2015 and into 2016, analysts say. "WTI oil futures will remain range bound at around $60 for the rest of 2015 and will only start trending up ..
08/06/2015
Saudi Arabia, the world’s largest crude exporter, raised July pricing for most crude grades sold to Asia amid signs that demand is growing. Arab Light for buyers in Asia will sell at parity to the regional benchmark, state-owned Saudi Arabia..
08/06/2015
Saudi Arabia’s oil-fueled economic boom is showing signs of losing steam. Official data released last week showed demand for loans growing at the slowest pace since 2011 and the kingdom’s currency reserves plunging for a third month in..
08/06/2015
Gross domestic product is set to expand 2.5 percent this year, the slowest pace since 2009, according to economists’ estimates on Bloomberg. Non-oil GDP growth, which averaged 7 percent between 2000 and 2011, will slow to 4.5 percent in 2015, t..
08/06/2015
Volatile oil prices are expected to finish the year near current levels, even though crude may make another plunge in the second half of 2015, according to a new CNBC Oil Survey. The respondents were uniform in their view that OPEC will take no acti..
08/06/2015
Big US oil majors have ventured into the home of Opec this week to deliver a brutal message to the Middle East-dominated oil cartel: 'Anything you can do we can do better.' Ryan Lance, chief executive of ConocoPhilips, told members of the Organisati..
08/06/2015
Ahead of this week’s OPEC meeting, Saudi Arabian oil minister Ali Al-Naimi has once again been talking up one of his country’s biggest resources: sunshine. Speaking to reporters, he said he thought the most interesting thing in energy ri..
08/06/2015
Nearly a year after oil markets entered a deep downward spiral, unmoored from the $100-a-barrel mark that had anchored them for years, some OPEC members are publicly talking for the first time about a new "fair" price for their crude. Oil ministers ..
08/06/2015
If the West and Iran can sign a comprehensive agreement that leads to the removal of sanctions on Iran, how will OPEC respond to the prospect of a flood of new Iranian oil? The oil majors are all highly interested in jumping into Iran. In Vienna f..
08/06/2015
FREDThe price of WTI crude since the last OPEC meeting. On Friday, OPEC is expected to announce its latest decision regarding oil production. OPEC, or the Organization of Petroleum Exporting Countries, is the 12-member oil cartel — of which ..
08/06/2015
VOV News English (VOV) - PetroVietnam Gas Joint Stock Corporation (ticker GAS), engaged in the oil and gas refining and marketing industry, was ranked number one on Forbes top 50 Vietnamese companies list. Facebook Twitter 0 vote(s) Comment Save ..
04/06/2015
English.news.cn 2015-06-01 17:24:16 [More] HANOI, June 1 (Xinhua) -- In the first five months of 2015, Vietnam saw a sharp year-on-year decrease in exports of crude oil, according to the..
29/05/2015
May 27 Petrolimex, Vietnam's largest oil product importer and distributor, is seeking to sell a stake of between 15 and 25 percent to Japan's JX Nippon Oil & Energy Corp , a Petrolimex executive was quoted on Wednesday as sayi..
25/05/2015
(Recasts to add imports tariff cut from ministries) By Mai Nguyen May 20 (Reuters) - Vietnam raised retail petrol prices on Wednesday to match global oil prices but cut import tariffs on some oil products in an effort to trim prices and support..
25/05/2015
Earlier in May 2015, the Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Nguyen Xuan Son, Chairman of the PetroVietnam National Oil and Gas Group Board of Directors. Hyd..
25/05/2015
Baku – APA. “We had very productive conversation with the President Ilham Aliyev today. We share same opinion with Mr. President that Azerbaijan and Vietnam have great potentials. This allow us to expand our cooperation, relations”,..
25/05/2015
Azerbaijani President Ilham Aliyev gave an interview to the Vietnam News Agency (VNA), prior to the official visit of Vietnamese President Truong Tan Sang to Azerbaijan. In particular, President Aliyev said that Vietnam and Azerbaijan have great coo..
25/05/2015
HANOI, May 13 (Bernama) -- Azerbaijani President Ilham Aliyev said Vietnam and Azerbaijan have great potential to cooperate in the oil and gas sector, Vietnam News Agency (VNA) reported. Aliyev said in an interview with VNA ahead of Vietnam's Pres..
12/05/2015
Published: May 7, 2015 at 6:26 AM Daniel J. Graeber MOSCOW, May 7 (UPI) --MOSCOW, May 7 (UPI) -- Russian energy company Gazprom said it was planning to work alongside its Vietnamese peers in drilling the latter's first-ever deepwater exploration ..
11/05/2015
PTI A view of a Chinese oil rig in the South China Sea. China claims sovereignty over almost all of the SCS, which is hotly contested by the Philippines, Vietnam, Malaysia, Brunei and Taiwan. AP A view of a Chinese oil rig in the South China Sea. ..
11/05/2015
* Tax-breaks make diesel imports from ASEAN members cheaper * Vietnam-ASEAN trade deal came into effect this year * Singapore shipped over 715,000 tonnes diesel Jan-April * Vietnam order boom pushes up Singapore's diesel premiums By Jessi..
11/05/2015
All India | Reported by Sheikh Zaffar Iqbal, Edited by Anindita Sanyal | Updated: May 04, 2015 23:39 IST Hanoi: Days before Prime Minister Narendra Modi's maiden visit to China, Vietnam has accused China of threatening Indian oil companies. ..