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Famine-Hit South Sudan Buys Arms With Oil Money, UN Report Says

Mar 17, 2017 at 14:39 | Tsvetana Paraskova

The government of war-torn famine-stricken South Sudan is using at least half of its revenues from oil sales to acquire weapons, despite the dramatic political, economic and humanitarian crises in…

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Tesla Raises $1.2B, More Than Planned Ahead Of Model 3 Launch

Mar 17, 2017 at 13:50 | Tsvetana Paraskova

Tesla Inc has raised a total of $1.2 billion in fresh capital by selling common shares and convertible notes, with the sum exceeding its target from earlier this week to…

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Non-Compliant Iraq Now Claims OPEC Deal Is To Cut Exports

Mar 17, 2017 at 12:54 | Tsvetana Paraskova

The one OPEC producer that has been furthest off target to cut oil output as per the cartel’s deal—Iraq—is now claiming that the agreement implied that exports, rather than production,…

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Somali Pirates Release Oil Tanker Without Ransom

Mar 17, 2017 at 12:44 | Irina Slav

The Somali pirates that earlier this week hijacked a tanker shipping fuel from Djibouti to Somalia’s capital, Mogadishu, have released the vessel and the crew without receiving any ransom, media…

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Tillerson Supports State Department Budget Cut Proposal

Mar 17, 2017 at 11:52 | Irina Slav

Secretary of State Rex Tillerson has supported the White House’s proposal to cut his department’s funding by 28 percent, or over $10 billion, contained in a draft budget that…

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Oil Prices Poised For Weekly Gain Ahead Of U.S. Rig Count Report

Mar 17, 2017 at 10:28 | Tsvetana Paraskova

Oil prices were advancing on Friday morning in a relatively calm trade, as a weaker dollar was helping oil futures set the stage for a weekly gain after last week’s…

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Draft Budget Nuclear Waste Plans Anger Nevada

Mar 17, 2017 at 10:19 | Irina Slav

A stipulation in the draft “skinny budget” released by the Trump administration has put the government at odds with the state of Nevada as it envisages a $120-million allocation…

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Iraq Oil Exports Edge Lower So Far in March

Mar 16, 2017 at 16:47 | Damir Kaletovic

Exports from southern Iraq in the first 14 days of March have averaged 3.25 million bpd, according to Reuters shipping data. According to official data, the country’s southern terminals…

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OPEC’s Largest Member Supports More Production Cuts If Needed

Mar 16, 2017 at 16:33 | Julianne Geiger

OPEC’s deal to cap oil production may be extended beyond June if crude oil inventories remain high, according to OPEC’s largest member, Saudi Arabia, in an interview with Bloomberg.…

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Venezuela’s PDVSA Offers Rosneft Stake In Chevron-Held JV

Mar 16, 2017 at 14:38 | Tsvetana Paraskova

Venezuela’s struggling state oil firm PDVSA has offered Russian oil giant Rosneft 10 percent of its 70-percent stake in a joint venture in which the other 30 percent is held…

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