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News

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Saudi-Led Coalition, Houthis Clash Near Major Oil Passage

Jan 16, 2017 at 13:21 | Irina Slav

Forces of the Saudi-led coalition against the Houthi rebels in Yemen and the rebel group are fighting in the southwestern Yemeni region of Bab el-Mandeb, a vital passage for around…

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Syrian Airforce Strikes Back At IS After Major Attack

Jan 16, 2017 at 12:18 | Irina Slav

A Saturday missile attack by the Islamic State against the eastern Syrian city of Deir ez-Zour was followed by an air strike by the Syrian military, the clash resulting…

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Iran’s Oil, Gas Revenues To Hit $41B In 2016/17

Jan 16, 2017 at 09:51 | Tsvetana Paraskova

Iran’s crude oil and condensate revenues are expected to reach US$41 billion in the country’s current fiscal year ending on 20 March 2017, Oil Minister Bijan Zanganeh said on Monday.…

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As Oil Crunch Bites, Nigeria Chooses China’s $40B Over Taiwan

Jan 13, 2017 at 16:54 | Damir Kaletovic

After China pledged US$40 billion in investments and projects in Nigeria, Taiwan has been ordered to move its representative office from the capital Abuja to Lagos, the commercial hub.…

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US Set To Revoke Some Oil-Related Sanctions Against Sudan

Jan 13, 2017 at 16:43 | Tsvetana Paraskova

Outgoing U.S. President Barack Obama issued an executive order on Friday that would lift certain trade and oil-related sanctions against Sudan in six months’ time, due to “Sudan’s positive…

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Ukraine Pays 20% More For EU Gas Than It Would Have Paid To Russia

Jan 13, 2017 at 16:32 | Tsvetana Paraskova

France’s energy group Engie started direct gas deliveries to Ukraine at the beginning of January, and Kiev is paying 20 percent more for the EU gas than it would have…

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Russia’s Reserve Fund Can Stay At Current Level At $50 Per Barrel

Jan 13, 2017 at 15:33 | Irina Slav

Russia’s Economy Minister Anton Siluanov said that the country’s Reserve Fund could be maintained this year at international oil price levels of US$50 a barrel. The Reserve Fund is…

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Kashagan Production Ramping Up To 180,000 Bpd

Jan 13, 2017 at 15:26 | Tsvetana Paraskova

North Caspian Operating Company, the joint venture operating Kazakhstan’s giant Kashagan oil and gas project in the Caspian Sea, said on Friday that it is currently ramping up production…

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China's Oil Import Dependency Deepens

Jan 13, 2017 at 12:12 | Irina Slav

China satisfied 64.4 percent of its crude oil demand with imports last year because of high production costs at home and favorable international prices resulting from the global glut.…

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Brazil Sees Up To $1.4B Revenue From Oil, Gas Licensing In 2017

Jan 13, 2017 at 10:24 | Tsvetana Paraskova

Brazil expects to reap up to the equivalent of US$1.4 billion from three oil and gas exploration licensing rounds this year, Brazil’s Energy Minister Fernando Coelho Filho said on…

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