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Top 5 Risks To Oil Prices

While general sentiment suggests that…


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Alberta Energy Minister Sees Rosy Oil Sands Future, Despite Big Oil’s Departure

Apr 24, 2017 at 17:06 | Zainab Calcuttawala

Domestic interest in Alberta’s oil sands is returning, even as international companies are withdrawing their stakes in Canada’s oil sands, according to the province’s Energy Minister Marg McCuaig-Boyd. It…

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Oil Exporting Nations Slash Military Spending

Apr 24, 2017 at 16:37 | Tsvetana Paraskova

The oil price slump and the consequent economic problems forced many oil-exporting countries to cut military spending last year, with Saudi Arabia recording the largest absolute decrease in spending—$25.8 billion—the…

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Offshore Oil Rig Business Still Suffering, Top Rig Builder Warns

Apr 24, 2017 at 16:23 | Tsvetana Paraskova

Despite the fact that it posted a rise in first-quarter net profit, Singapore’s Keppel Corporation, the world’s largest offshore rig builder, has cautioned that the offshore oil rig business continues…

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South Sudan Reopens Negotiations For B1 And B2 Oil Blocks

Apr 24, 2017 at 14:01 | Zainab Calcuttawala

South Sudan is ready to reopen negotiation for drilling rights to Blocks B1 and B2, after an attempt to reach a deal with three foreign oil majors broke down due…

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Nigeria Continues To Claw Back Money From Oil-Sector Players

Apr 24, 2017 at 13:31 | Ronke Luke

Nearly three and a half years after the Berne Declaration (BD) published its explosive report, “Swiss Traders’ Opaque Deals in Nigeria,” alleging billion dollar fraud in oil trades and…

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Chevron Continues Billion-Dollar Asset Sales In Asia

Apr 24, 2017 at 12:40 | Tsvetana Paraskova

Less than a month after it announced the completion of the sale of its geothermal business in Indonesia, Chevron Corporation said on Monday that it entered into an agreement to…

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Saudi King Sacks Three Ministers, Reinstates Public Service Perks

Apr 24, 2017 at 10:26 | Irina Slav

Saudi Arabia’s King Salman has decreed several sweeping changes to the government and has reinstated perks for civil servants that were removed last year amid the low oil prices. Now,…

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India’s Hunger For Oil Storage Causes Long Gas Lines In Sri Lanka

Apr 24, 2017 at 09:44 | Irina Slav

The Ceylon Petroleum Common Workers Union has stopped releasing gasoline from 12 storage facilities, causing long lines at gas stations across Sri Lanka. The industrial action came in response to…

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Iran’s Crude Oil Exports Set For 14-Month Low In May

Apr 21, 2017 at 17:27 | Tsvetana Paraskova

Iran’s crude oil exports in May will likely hit their lowest volume in 14 months, as the Islamic Republic has cleared tanker storage and Asian buyers are set to load…

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New York, Los Angeles, and San Francisco Suffer Simultaneous Power Outages

Apr 21, 2017 at 17:21 | Zainab Calcuttawala

Three major U.S. cities struggled to power vital transport infrastructure on Friday, delaying work and travel for thousands of Americans just before the weekend. New York’s subway B line lost…

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