2020-03-04 10:00:00
OPEC'S PROPOSAL: $60
REUTERS - MARCH 3, 2020 - OPEC's proposal to cut oil production by up to 1 million barrels a day would be enough to balance the oil market and lift prices to $60 a barrel, Leonid Fedun, vice-president of Russian oil producer Lukoil, told Reuters.
The comments from Fedun, who was talking on the sidelines of the company's presentation of its low-carbon energy strategy, suggest Russia may be willing to agree to OPEC's proposals for more output cuts in light of the coronavirus outbreak.
The Organization of the Petroleum Exporting Countries and its partners,…
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Earlier:
2020, March, 2, 13:05:00
OIL PRICE: NEAR $51 ANEW
Brent was at $51.91 a barrel, up $2.24 or 4.5%, WTI hit a 14-month low of $43.32, before recovering to $46.65, up $1.89, or 4.2%.
2020, March, 2, 13:00:00
BRENT PRICE LEVEL: $ 42.4
"I want to emphasize, for the Russian budget, for our economy, current oil prices are acceptable. Let me remind you that this year, as part of our macroeconomic policy, we took a Brent crude price of $42.40/b as the base level," Putin said during a meeting on the impact of the coronavirus on the global economy and the oil market with government ministers and representative of oil and gas companies.
2020, March, 2, 12:55:00
OPEC+ OIL CUTS
Despite heavy lobbying by Saudi Arabia, the 23-country coalition of OPEC and non-OPEC producers has yet to agree on any plans to rein in crude oil production further.
2020, February, 26, 09:55:00
CORONAVIRUS BRIEFLY: ARAMCO
The global impact of coronavirus will only be “short term”, according to the CEO of Saudi Aramco.
2020, February, 21, 12:30:00
OIL MARKET: NOTHING URGENT
Despite the partial recovery, oil prices are still far below the level many OPEC members need for their budgets to balance.
2020, February, 19, 11:50:00
GLOBAL PETROLEUM DEMAND WILL UP BY 1.0 MBD
EIA now expects global petroleum and liquid fuels demand will rise by 1.0 million b/d in 2020, which is lower than the forecast increase in the January STEO of 1.3 million b/d in 2020, and by 1.5 million b/d in 2021.
2020, February, 14, 12:10:00
CHINA'S CORONAVIRUS: NO AFFECT
The coronavirus epidemic in China has had a marginal impact on energy markets and is unlikely to dramatically affect oil prices even if Chinese demand falls by 500,000 barrels per day, U.S. Energy Secretary Dan Brouillette told
Chronicle:
2021, January, 22, 11:14:00
POWER WEEK ASIA 2021: Lifelike Virtual Conference for Power & Energy Experts
The 6th annual POWER WEEK ASIA Virtual Conference (15 - 18 March 2021) is now open for registration. Across 4 days, we will be broadcasting live interactive presentations, in-depth panel discussions, and networking sessions from leading experts across the world.
2021, January, 22, 11:13:00
POWER WEEK AFRICA 2021: An Interactive Virtual Summit for Power & Energy Professionals
Specially designed for the African electric power & energy industry, POWER WEEK AFRICA (20 - 23 April 2021) is the 3rd annual international virtual conference delivering a unique experience for each day of the event.
2021, January, 22, 11:05:00
GLOBAL HYDROGEN DEMAND UPDOWN
Global hydrogen demand is currently dominated by the refining and ammonia production industries that primarily use natural gas as a feedstock.
2021, January, 22, 11:00:00
BRITAIN NEED NUCLEAR POWER
The UK government must continue to support nuclear power generation if the country is to meet an expected doubling of electricity demand by 2050 while meeting its Net Zero ambitions,
2021, January, 22, 10:55:00
BANGLADESH COAL POWER 1.3 GW
Coal-fired capacity, which was multiplied by 4.5 over 2017-2019 (from 250 MW to over 1.1 GW), accounts for 6% of Bangladesh’s installed capacity (2019).
2021, January, 22, 10:50:00
VIETNAM COAL POWER 1.2 GW
The Prime Minister of Vietnam has authorised the 1,200 MW (2x600 MW) Quang Trach 2 coal-fired power project in the Quang Binh province.