Canada’s oil production slumped to 4.4 million barrels per day (bpd) in May – the lowest output since the middle of 2016 when wildfires crippled oil sands production.
Russia Energy Minister Alexander Novak has said that global oil demand will recover significantly next month, climbing to be within 10% of the level that the world saw prior to the coronavirus pandemic.
Gasoline production has resumed at Venezuela’s state oil firm PDVSA gasoline at the only operating refinery in the country home to the world’s largest oil reserves that are experiencing severe gasoline shortages.
Oil and gas major, Equinor has made a minor oil discovery near the Vigdis field in the North Sea offshore Norway
Shell’s spokesman Curtis Smith told Reuters that the oil giant is considering selling its 240,000-barrels-per-day refinery in Convent, Louisiana, as part of a broader strategy to reshape its refining portfolio, but the company has not announced yet.
Equinor has discovered gas and condensate in an exploration well 30/2-5 S Atlantis, which is located near the Kvitebjørn field in the North Sea. The well is located in production license 878 where Equinor is the operator.
Japan announces an investment of $14 billion in the production of Liquefied Natural Gas (LNG) in Mozambique. Funding will come from several Japanese banks, public and private.
Neptune Energy says it has discovered hydrocarbons at the Dugong well, which is located in the Norwegian part of the North Sea.
Russian Energy Minister, Alexander Novak said on Thursday that the OPEC+ group of oil producers is expected to start easing oil output cuts from August as previously agreed.
Three platforms have been removed from the Dutch sector of the North Sea by the offshore operator Neptune Energy. The three facilities, namely L10-C, L10-D, and L10-G, stopped production in 2016.