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June 12, 2021

Oil & Gas (TRBC level 3)

Egypt projects 7.1% increase in debt financing needs in 2021/22

Reuters
FILE PHOTO: A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh/File Photo CAIRO (Reuters) – Egypt expects its debt financing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the......

OPEC raises 2021 oil demand growth forecast on hope pandemic wanes

Reuters
LONDON (Reuters) -OPEC on Tuesday raised its forecast for growth in world oil demand this year on expectations the pandemic will subside, providing help for the group and its allies in their efforts to support the market. FILE PHOTO: A 3D-printed oil pump jack is seen in front of displayed......

Voting starts in Chad presidential election

Reuters
FILE PHOTO: Chad’s President Idriss Deby arrives to attend a summit on the situation in the Sahel region in the southern French city of Pau, France, January 13, 2020. REUTERS/Regis Duvignau//File Photo N’DJAMENA (Reuters) – Polling stations opened in Chad on Sunday for a presidential election in which incumbent Idriss......

Voting starts in Chad presidential election

Reuters
FILE PHOTO: Chad’s President Idriss Deby arrives to attend a summit on the situation in the Sahel region in the southern French city of Pau, France, January 13, 2020. REUTERS/Regis Duvignau//File Photo N’DJAMENA (Reuters) – Polling stations opened in Chad on Sunday for a presidential election in which incumbent Idriss......

Brazil’s Petrobras, government agree on rules for potential Sepia, Atapu sale

Reuters
FILE PHOTO: The Petrobras logo is seen in front of the company’s headquarters in Sao Paulo April 23, 2015. REUTERS/Paulo Whitaker/File Photo RIO DE JANEIRO (Reuters) – The board of Brazilian state-run oil company Petrobras has approved an agreement with the government regarding the compensation that must be paid to......

Analysis: High stakes at sea in global rush for wind power

Reuters
By Susanna Twidale, Nora Buli LONDON(Reuters) – Global competition for offshore wind power is so hot that licence auctions now resemble the oil and gas competitions of just a few years ago, and some of the names are familiar too as global oil majors move aggressively into renewable energy. FILE......

Iran rejects ‘step-by-step’ lifting of sanctions – Press TV

Reuters
FILE PHOTO: The Iranian flag waves in front of the International Atomic Energy Agency (IAEA) headquarters, before the beginning of a board of governors meeting, amid the coronavirus disease (COVID-19) outbreak in Vienna, Austria, March 1, 2021. REUTERS/Lisi Niesner (Reuters) – Iran’s government wants the United States to lift all......

Power play – India wields oil ‘weapon’ to cut dependence on Saudi

Reuters
NEW DELHI (Reuters) – When India’s government last month asked refiners to speed up diversification and reduce dependence on the Middle East – days after OPEC+ said it would maintain production cuts – it sent a message about its clout and foreshadowed changes to the world’s energy maps. FILE PHOTO:......

Oil companies defeat New York City appeal over global warming

Reuters
FILE PHOTO: Ice lines the shoreline of the Hudson River as the New York City skyline is seen from Jersey City, New Jersey January 10, 2014. REUTERS/Brendan McDermid /File Photo NEW YORK (Reuters) -A federal appeals court on Thursday rejected New York City’s effort to hold five major oil companies......

Exxon Mobil signals better first-quarter earnings as oil prices climb

Reuters
FILE PHOTO: An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. REUTERS/Jim Young/File Photo (Reuters) – Exxon Mobil Corp expects rising first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil......

ConocoPhillips sees higher Q1 output, warns of profit hit from unwinding hedges

Reuters
(Reuters) -ConocoPhillips said on Wednesday its first-quarter results will benefit from higher oil prices and output, while warning of a $600 million profit hit from its recent acquisition of Concho Resources and related commodity price hedges. FILE PHOTO: The logo for ConocoPhillips is displayed on a screen on the floor......

ConocoPhillips forecasts higher first-quarter output

Reuters
March 31 (Reuters) – ConocoPhillips said on Wednesday it expects production in the first quarter to be 29.3% higher than the previous quarter. The top independent U.S. oil producer forecast production of 1.47 million barrels of oil equivalent per day (boepd) to 1.49 million boepd, which included an about 50,000......

Saudi Aramco private investment plan voluntary, not state imposed, says CEO

Reuters
LONDON, March 31 (Reuters) – Saudi Aramco said on Wednesday the government had no plans to impose private partnerships on the oil giant, after it launched a programme to support private investment in the kingdom as part of Saudi Arabia’s diversification push. “This is a voluntary programme. It’s on the......

U.S. gasoline demand exceeds 2020 levels for first time in 2021: OPIS

Reuters
FILE PHOTO: Taxis are seen at a gas station in New York, U.S., March 14, 2020. REUTERS/Eduardo Munoz/File Photo NEW YORK (Reuters) – U.S. gasoline sales for 2021 have exceeded prior-year levels for the first time since last March, when officials first started to widely impose coronavirus lockdowns, according to......

RPT-Large fire at Indonesia’s Balongan oil refinery in West Java – media

Reuters
(Repeats to more subscribers) March 29 (Reuters) – A large fire has broken out at the Balongan oil refinery operated by Indonesia’s state owned oil and gas company, PT Pertamina, media reports said on Monday. The fire started just after midnight on Sunday evening, news portal Detik.com reported. Unverified videos......

World Bank re-engages with Sudan following arrears clearance

Reuters
KHARTOUM (Reuters) – The World Bank will shortly begin the process of allocating some $2 billion in grants to Sudan, a bank official said, representing the country’s return to the international financial system after decades of isolation. Priority areas for the funds will be defined following meetings early next month,......

China’s Sinopec raises 2021 capital expenditure by 23.8%

Reuters
BEIJING (Reuters) – China Petroleum & Chemical Corp, better known as Sinopec, plans a 23.8% increase in capital spending to 167.2 billion yuan in 2021 following recovery of oil prices and energy demand as the COVID-19 epidemic subsided. Sinopec expects to spend 66.8 billion yuan on upstream exploration focusing on......

Convoy of fleeing civilians ambushed in besieged Mozambique town

Reuters
MAPUTO (Reuters) – Suspected Islamist insurgents attacked a convoy of fleeing civilians, including foreign workers, as fighting continued on Friday in a northern Mozambique town that is near a number of gas projects, security and diplomatic sources said. At least one person was killed and a number injured, according to......

Mexican president pitches law that could suspend oil permits

Reuters
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador sent a bill to Congress on Friday that could enable the government to suspend permits in the oil industry, as part of a drive to bolster state control of energy at the expense of private firms. FILE PHOTO: Mexico’s President......

Chevron eyes deal for Shell oil refinery in Pacific Northwest: sources

Reuters
FILE PHOTO: A Chevron gas station sign is shown in Cardiff, California, in this January 25, 2016 file photo. REUTERS/Mike Blake/Files/File Photo HOUSTON (Reuters) – Chevron Corp has emerged as a leading contender to buy a Royal Dutch Shell Plc refinery in the U.S. Pacific Northwest, three people familiar with......

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