News
UAE To Change Terms Of Japanese Oil Concessions
Adnoc will offer Japanese energy companies that hold concessions for fields in the Emirates new terms and conditions as part of a renegotiation of the concessions, the company’s CEO
Saudi Coalition Blocks Four Oil Tankers From Entering Houthi Port
The Saudi Arabia-led coalition and the Yemeni government blocked four oil tankers from entering the Hudaidah port on the Red Sea, in a move that will likely worsen the…
Saudi Aramco IPO Team Favors London For Foreign Listing
Saudi Arabia’s financial advisors are recommending that London, not New York, should host Saudi Aramco’s initial public offering, set to take place next year, according to sources that spoke…
Valero: U.S. Import Ban On Venezuela Oil To Raise Heavy Sour Crude Prices
If the United States imposes a ban on crude oil imports from Venezuela, prices for the heavy sour crude grades like the one Venezuela is supplying to the U.S. would…
Suncor, Total In Dispute Over Costs Of Fort Hills Oil Sands Project
Canada’s Suncor Energy said on Thursday that one of its project partners in the Fort Hills oil sands project in Alberta, France’s oil major Total SA, had decided not…
Mexico To Get Its First Public Oil Company In August
Vista Oil & Gas, a private company backed by Riverstone Capital, will launch its initial public offering on August 11, becoming the first public oil company in Mexico, four years…
Nigeria Halts Oil Exploration In Chad Basin After Boko Haram Kidnappings
Nigeria’s government is suspending crude oil exploration activities in the Chad Basin in northeastern Borno state following the kidnapping of at least 10 people who were contracted to carry…
Statoil Returns To Q2 Profit On Higher Prices, Lower Costs
Statoil (NYSE:STO) reported on Thursday a second-quarter net income of US$1.436 billion, compared to a US$302-million loss in Q2 2016, as higher oil and gas prices and continued…
Conoco’s Q2 Loss Widens To $3.4 Bln
ConocoPhillips reported a loss of US$3.4 billion for the second quarter of the year, up from US$1.1 billion for Q2 2016, the company said today. However, excluding special items,…
Kuwait To Curb Oil Exports To US—Will Iraq Step In?
In the latest round of OPEC promises, Kuwait’s state run oil company has pledged to cut “contractual sales volumes of oil for 2017” according to Bloomberg Markets. Kuwait Petroleum…
