PTN News Digest

Issue #17 | 22-09-2021

First Nations worried by suspension of oilsands environment.

Given eight options for what their primary goal is over the next six months, the biggest share of respondents, 19%, said it’s keeping production flat, while 16% said growing output and another 16% prioritized reducing debt.

Newfoundland and Labrador premier announces new offshore exploration incentives

The Government of Newfoundland and Labrador announced the establishment of a new offshore exploration initiative to provide companies with the incentive to drill more wells in the best prospects.

EIA Sees Global Oil Market Balancing By End-2021

EIA expects inventories to continue declining in the second half of 2020 and during most of 2021, resulting in a relatively balanced market by the end of next year.

Iran And Venezuela Defy U.S. Sanctions In Bilateral Oil Trade

Iran is reportedly helping Venezuela to reverse the decline of its crude oil production. Iran has sent professionals to help Venezuela repair its crumbling refineries.

Petroleum Trade Network

Impact of low oil price over long term

Stalled demand and lack of Covid-19 vaccine may delay oil price recovery above $50 until 2021

Fragile Demand for Gasoline, Keeps Pressure on Crude Oil Prices

Pressure on crude oil prices due to fragile gasoline demand

Domestic crude oil production down 6.3 per cent in August

The consumption of petroleum products stood at 14.4 million tonnes in August 2020, down from 17.2 million tonnes in August 2019 in India

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