OIL AND GAS

September 20, 2017

Fuel shortage in Libya capital after fighters close pipeline

Libyans queued in long lines outside petrol stations in the capital Tripoli on Tuesday after fighters forced the closure of a fuel pipeline to the city.

On Monday, 'an armed militia trespassed (at) Zawiya"...

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September 20, 2017

Nigeria, Libya expected to attend OPEC-led panel on Friday

Two OPEC sources confirmed that Nigeria’s oil minister and the head of Libya’s state oil company are likely to attend a joint meeting between OPEC and non-OPEC nations on Friday to discuss the progress of their deal to limit output, Reuters"...

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September 19, 2017

China's Oil Demand Is Growing At More Than Double Last Year's Pace

Last week OPEC released its Monthly Oil Market Report which covers the global oil supply and demand picture through July. OPEC crude oil production decreased by 79,000 BPD in August to average 32.8 million BPD. This marks the first OPEC production decline since April and was primarily driven by sizable outages in Libya. The cartel revised global oil demand growth for 2017 upward by 50,000 barrels per day (BPD) to 1.42 million BPD. The group reports strong growth from the OECD Americas, Europe, and China. Global oil demand for 2018 is expected......

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September 19, 2017

China's Oil Demand Is Growing At More Than Double Last Year's Pace

Libya’s coastguard has rescued over 3,000 migrants aiming to cross the Mediterranean to Europe in the past week, while Italy picked up another 2,000 in recent days, official and reports said Sunday.

Though the numbers attempting the dangerous journey have dropped off"...

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September 18, 2017

Sub-$50 Oil Could Kill Shale

Oil prices are at their highest levels in months on the back of strong demand and some key supply outages around the world. But the next price movements are unclear, as is the response from U.S. shale.

As the"...

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September 18, 2017

Synetics: Oil and Gas Surveillance Specialist Wins Multiple Middle East Contracts

(AETOS Wire)-- Surveillance solutions business Synectics has secured multiple contracts for onshore and offshore oil and gas developments, spanning Egypt, Saudi Arabia, the UAE and Iran. Encompassing a broad mix of Synectics’ surveillance and security management solutions, the contracts will see the business deploy over 700 COEX™ camera stations across the Middle East region – in a number of cases incorporating new, customer-led feature developments. Off the Egyptian coast, Synectics will be providing an offshore platform with a range of C3000 HD IP, C2000 HD IP and C2000 (PTZ and fixed) camera stations, with specific models......

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September 17, 2017

Reports: Global Oil Demand Rises, Supply Drops

Ahead of its meeting in Russia, later this month, the Organisation of Petroleum Exporting Countries (OPEC) has projected that the world oil demand growth in 2017 would rise by 1.42 million barrels per day (mb/d). This, OPEC noted, was consequent upon an upward review of about 50,000b/d.

"...

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September 17, 2017

Kuwait Oil Company Awards Major Contract to Grandweld Shipyards

Grandweld Shipyards has secured a contract to design, Construct and deliver four crew boats and six pilot boats for Kuwait Oil Company. The contract was signed on May, 2017 by Mr. Ismail Abdulla, Deputy Chief Executive Officer of Kuwait Oil Company,"...

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September 16, 2017

Libya’s Sharara oilfield pumping only 180,000 bpd -worker

Libya’s Sharara oilfield is producing about 180,000 barrels per day (bpd), 100,000 bpd below recent levels, because of security problems, two workers at the field said on Thursday.

They said that a facility"...

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September 14, 2017

Even When OPEC Wins, It Loses

For months, the oil cartel OPEC has worried about what it should be doing as its plan to restrict its collective crude production (and hopefully kick off a price rebound) was failing. The cartel has never seemed less cohesive than it does in this new oil reality, where production is surging"...

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