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Bad Year For Shale Stocks Despite Rebound

It’s been a bad year…

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The Strategic Petroleum Reserve Is Slowly Dying

The strategic petroleum reserve has…

News

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New Iraq JV With Arab States Eyes Global Oil Trade

Aug 16, 2017 at 13:44 | Zainab Calcuttawala

A new joint venture between Iraq and its Arab partners will allow coordinated transport, storage and trade of crude oil and refined products around the world, according to a new…

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Trump Speeds Up Oil, Gas Pipeline Approval Process

Aug 16, 2017 at 11:37 | Irina Slav

With an executive order signed yesterday, President Donald Trump has set out to speed up the approval process for major infrastructure projects, including oil and gas pipelines. The central…

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Accounting Firm To Pay $6.2M In SEC Oil Audit Charges

Aug 16, 2017 at 11:21 | Tsvetana Paraskova

Accounting firm KPMG has agreed to pay more than US$6.2 million to settle SEC charges that it had overlooked grossly overstated values of the assets of an oil and gas…

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Wonder Woman Gets Power Boost From Oil Group

Aug 16, 2017 at 09:16 | Tsvetana Paraskova

One usually doesn’t associate the right-wing platform-backing Koch brothers with liberal Hollywood, but they liked the idea of Wonder Woman enough to back the blockbuster film—and the return on investment…

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Oil Prices Rise As API Reports Huge Crude Inventory Draw

Aug 15, 2017 at 15:53 | Julianne Geiger

The American Petroleum Institute (API) reported a major draw of 9.2 million barrels in United States crude oil inventories—the biggest draw since September 2016. The draw compares to analyst expectations…

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Iraqi Oil Governor Defects To Iran Amid Corruption Probe

Aug 15, 2017 at 14:26 | Zainab Calcuttawala

Iraq’s anti-corruption push has led the governor of oil-rich Basra to quit his job and defect to Iran, according to sources close to the matter who spoke to Reuters.…

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Second Oil Spill Reported in Kuwait’s Ras Al-Zour Waters

Aug 15, 2017 at 14:12 | Zainab Calcuttawala

A new oil slick off of Kuwait’s southern shores is spreading in the Persian Gulf and will add on the impact of a recent 35,000-barrel spill in the same water…

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Libyan Oil Liberator Aims To Boost Russian Ties

Aug 15, 2017 at 13:19 | Tsvetana Paraskova

In a sign that Libya’s powerful military is moving closer to Russia, Libyan National Army (LNA) commander Khalifa Haftar—the man responsible for recapturing the country’s oil ports and essentially restarting…

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Australia Takes On Qatar For Top LNG Producer Status

Aug 15, 2017 at 10:35 | Irina Slav

Australia this week moved a step closer to becoming a real problem for Qatar on the LNG market, after the second floating production, storage, and offloading vessel for the Ichthys…

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Iran Boosts S. Korea Oil Market Share While Saudis Cut

Aug 15, 2017 at 09:32 | Tsvetana Paraskova

Iran continues to raise market share in Asia, with crude sales to South Korea increasing by 26.5 percent on the year in July, while Saudi Arabia’s oil sales to Seoul…

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