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News

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U.S. Says It Won’t ‘Take’ Iraq’s Oil As Russia Expands Influence

Feb 21, 2017 at 14:07 | Irina Slav

Less than a day after U.S. Defense Secretary James Mattis contradicted Trump’s oft-repeated maxim that we should have taken Iraq’s oil, Russia has moved to expand its footprint in the…

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Shell Sees No Oversupply In LNG Market As New Demand Grows

Feb 21, 2017 at 10:31 | Tsvetana Paraskova

Royal Dutch Shell said on Monday that rising new LNG demand is offsetting growth in supply, shrugging off concerns of oversupply on the LNG market in which the Anglo-Dutch…

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Russia Tops World’s Biggest Oil Producers List

Feb 21, 2017 at 09:53 | Irina Slav

Russia pumped the most crude oil in the world in December, dethroning Saudi Arabia as the world’s biggest oil producer. The difference in the two countries’ daily averages stood…

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Saudi Officials Favor NYSE For Historic Aramco Listing

Feb 20, 2017 at 17:36 | Zainab Calcuttawala

The New York Stock Exchange is the favorite for the massive upcoming Saudi Aramco listing, according to a report by the Wall Street Journal on Monday. London and Toronto’s…

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Iran’s South Pars Oil Field To Produce By End Of March

Feb 20, 2017 at 16:44 | Zainab Calcuttawala

The South Pars field in the Persian Gulf will begin production by the end of the fiscal year, according to Iranian Oil Minister Bijan Zanganeh, who made the confirmatory statement…

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Malaysia Plans US$1 Billion Sale Of Sarawak Gas Block Stake

Feb 20, 2017 at 16:31 | Zainab Calcuttawala

Malaysia’s Petronas plans to sell a minority stake in an upstream gas project for a $1 billion sum to raise capital and lower the government’s cost burden, according to two…

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Iran Announces 2 Billion Barrel Shale Oil Find

Feb 20, 2017 at 15:21 | Zainab Calcuttawala

The western province of Lorestan will be getting new attention from the Iranian oil ministry following the discovery of major shale oil reserves in the region, according to new

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Russneft To Raise 2017 Crude Oil Output If Market Rebalances

Feb 20, 2017 at 14:26 | Tsvetana Paraskova

Russian oil producer Russneft (not to be confused with Rosneft) plans to raise its oil production this year by at least 2.5 percent compared to last year’s 7 million tons…

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Platts To Include Norway’s Troll Crude In Brent Basket From 2018

Feb 20, 2017 at 12:07 | Tsvetana Paraskova

S&P Global Platts said on Monday that starting from January 2018, it will include Norway’s Troll crude grade in the Brent basket—a first such addition since 2007—in a bid…

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Arab-Majority Oil-Rich Iranian City Protests Power Cuts, Air Pollution

Feb 20, 2017 at 11:52 | Tsvetana Paraskova

Residents of the oil-rich Iranian city of Ahvaz with a majority Arab population have been protesting for a week over continuous power failures, air pollution, and government mismanagement. The…

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