China’s Crude oil imports jumped 25% during July for a year ago as a result of a huge amount of purchases made in April after oil prices drop as well as clearing customs of some cargoes which delayed at ports in June.
The oil Ministers of Saudi Arabia, UAE, Kuwait, Oman, Iraq, and Bahrain reconfirmed their full support for OPEC+ agreement of cutting oil production in order to further speed up rebalance of oil markets.
Energy Transfer announced that it is cutting spending this year on growth projects by $200 million. The company added that this came in line with a decline of the gas pipelines volumes due to the reduction of crude production and lower demand for LNG exports.
The CEO of Oil Industries’ Engineering and Construction Company (OIEC), Gholamreza Manouchehri, announced that the Central Processing Facility (CPF) of Azar joint field begins to produce oil noting that its development plan will be put into production nearly.
Data released by Fujairah Oil Industry Zone showed that oil products stocks in the East Coast port of Fujairah, continued to decline along the past week.
Data released from the US Census Bureau has shown that US sent the first shipment of crude oil to Saudi Arabia in June since the end of banning crude exports in 2015.
Britain’s National Grid said that it is preparing for a project worth ten million pound in the north west of England to test how to use hydrogen to heat homes and reduce the amount of greenhouse gas emission.
ExxonMobil Company announced that it would hang the employer match to retirement savings plans starting from October 2020.
Saudi Mining Sector has achieved growth 3.1% during the Q1 of the current year despite the exceptional circumstances of Coronavirus pandemic.
Petrobras Company announced that it imposed its LNG regasification terminal and associated facilities for lease. The terminal is located in the northeast of Bahia.
