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Expert Commentary: Flood Of Imported Crude Caps Oil Prices

Already tightening oil markets continue…

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U.S. Shale Jobs Are Coming Back

The recovery of U.S. shale…

News

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Indonesia’s Pertamina To Invest $54B In Upstream By 2025

Jan 17, 2017 at 17:41 | Tsvetana Paraskova

Indonesia’s state-held energy company Pertamina plans to invest US$54 billion in upstream production by 2025, with the purpose to raise its oil, gas and geothermal output by 185 percent, spokeswoman…

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Airbus To Test Flying Car Prototype By End-2017

Jan 17, 2017 at 17:32 | Tsvetana Paraskova

Airbus expects to test by the end of the year a prototype of an autonomous flying car that could potentially help ease city traffic at some point in the future,…

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NPDC Pipeline Set Ablaze Less Than 24 Hours After Vice Presidential Visit

Jan 17, 2017 at 16:57 | Zainab Calcuttawala

Nigerian Vice President Yemi Osinbanjo’s visit to the Niger River Delta didn’t usher in the period of peace for which Lagos had hoped. Less than a full day after the…

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Noble Energy Boosts Permian Presence With Clayton Williams Buy

Jan 17, 2017 at 16:41 | Irina Slav

Independent oil and gas player Noble Energy said it will buy smaller peer Clayton Williams Energy in a bid to expand its footprint in the Permian shale play. The

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Russia, Yukos Back In Court Over $50 Billion Appeal

Jan 17, 2017 at 13:11 | Tsvetana Paraskova

Former shareholders of the now-defunct oil giant Yukos and Russian government lawyers began procedures on Monday for an appeal over US$50 billion that Moscow and ex-Yukos shareholders have been dragging…

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Iran Scores Again with Insurance Coverage On Oil Cargoes

Jan 17, 2017 at 11:05 | Irina Slav

International insurance companies have found a way around U.S. sanctions on Iran still in place and will now offer almost complete cover on outgoing crude oil shipments, Reuters writes…

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World’s Largest Oil Refinery Increases Profit Despite Tough Market

Jan 17, 2017 at 09:13 | Zainab Calcuttawala

India-based Reliance Industries boasted a 10 percent increase in profits on Monday for the fourth quarter of 2016, according to the company’s latest corporate report. The conglomerate’s refining operations…

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IMF Slashes Saudi Growth Outlook On Oil Output Cuts

Jan 16, 2017 at 17:42 | Damir Kaletovic

The OPEC oil production cuts have led the International Monetary Fund (IMF) to slash its growth outlook for Saudi Arabia, forecasting 0.4 percent growth in this year compared with…

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Nigerian Oil Will Lose Relevance In 20 Years, Says Vice-President

Jan 16, 2017 at 17:11 | Damir Kaletovic

Nigeria’s Vice-President has warned that the country’s oil won’t be nearly as valuable within a couple of decades, as its top clients work towards alternative means of power. “America…

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Venezuela To Propose New Deal ‘To Fix’ The Oil Markets

Jan 16, 2017 at 15:04 | Tsvetana Paraskova

Recession-struck Venezuela will send a new proposal to OPEC and non-OPEC producers to try to stabilize crude oil prices, Venezuelan President Nicolas Maduro said on Sunday. “Venezuela, as of next…

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