November 2020

The Vietnamese oil and gas company PetroVietnam (PVN) has started producing gas from the Sao Vang-Dai Nguyet field off the country’s southern coast.

Brent rose 22 cents, or 0.5%, to $43.97 a barrel . WTI climbed 6 cents, or 0.1%, to $41.49 a barrel.

The Committee reviewed the crude oil production data for October 2020 and welcomed the positive performance in the overall conformity level for participating OPEC and non-OPEC Countries, at 101 per cent.

By August production of crude oil had risen to 10.6 million b/d in the United States,

The UAE produced 2.4 million b/d in October, according to secondary sources quoted in OPEC's November monthly oil report. The UAE's quota is 2.59 million b/d.

South Korean refiners have sharply increased intakes of Middle East crude since May as they started to reduce imports of US grades due to expensive WTI compared with Dubai-linked Persian Gulf grades.

In December 2019, Turkey and Azerbaijan formally inaugurated the US$6.5bn Trans-Anatolian Natural Gas Pipeline (TANAP) gas interconnector.

Industrial production rose 1.1 percent in October.

TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) and Natural Law Energy (NLE) today announced they have signed a definitive agreement which allows NLE to make an equity investment of up to $1 billion in the Keystone XL pipeline project.

The agreement brings together the best-in-class in low carbon technologies from ADNOC and Total, and expands on the long-standing partnership and collaboration between the two leading energy producers across the full value chain.