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Thursday, March 4, 2021

oil and gas industry news

China Discovers Oil in Bohai Sea

The China National Offshore Oil Corporation (CNOOC) announced on Monday that it has found a field with 100 million tons of oil equivalent of...

Mediterranean Oil Spill Closes Israeli Beaches, Threatens Nature Preserve

Israel has closed its beaches after an oil spill dumped tons of tar along its coast of around 200 kilometers, on Sunday.The Ministry of...

Damaged Texas Oil Refineries Face Extended Recovery

Texas oil refineries shut down due to cold weather may take weeks to resume regular operations, causing a potential for fuel shortages across the...

Crude Oil Prices Spike as Supply Chain Fails

Brent Crude continued to climb higher on Thursday, with US prices settling at $61.52 as refineries in Texas remained closed during the Midwest's freeze...

Natural Gas and Oil Prices Climb as US Midwest Freezes

Natural gas and oil prices saw a sharp incline as parts of US struggle with energy demands and rolling blackouts following Monday's freeze. Natural gas...

Mexico Experiences Power Crisis after US Gas Supplies Were Cut

Mexico reported blackouts in 4.77 million homes and businesses after natural gas supplies from the US were disrupted by the ongoing winter storm. "A lack...

U.S. Sells One Million Barrels of Seized Iranian Oil

The US Department of Justice reported that they have sold more than a million barrels of Iranian fuel seized under their sanctions program last...

Exxon Posts $22B Loss Due to COVID

Oil and natural gas titan Exxon posts a fourth consecutive quarterly loss on Tuesday, marking the worst year for the company in over 40...

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