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Oil Traders Hedge Geopolitical Risk With Record Options

Oil Traders Hedge Geopolitical Risk With Record Options

Call options are currently trading…

Coal Continues to Thrive Despite Pledges for Clean Energy

Coal Continues to Thrive Despite Pledges for Clean Energy

Despite global commitments to clean…

Will Namibia Become OPEC’s Newest Member?

Will Namibia Become OPEC’s Newest Member?

Namibia wants to join OPEC…

News

VW CEO Rejects Tesla Acquisition Rumors

VW CEO Rejects Tesla Acquisition Rumors

Sep 12, 2019 at 09:35 | Irina Slav

“I wouldn’t consider a stake in Tesla,” the chief executive of Volkswagen told The Observer at the Frankfurt Motor Show. “I wouldn’t buy a stake because I think all…

Russia’s Gazprom Lifts 2019 Borrowing To $11B

Russia’s Gazprom Lifts 2019 Borrowing To $11B

Sep 11, 2019 at 18:03 | Tsvetana Paraskova

Russia’s gas giant Gazprom is raising its borrowing target for this year 2.4 times to US$11.1 billion (725 billion Russian rubles), a source familiar with the plan told Russia’s…

Why Trafigura Just Set Its Short-Term Price Target For Oil At $50

Why Trafigura Just Set Its Short-Term Price Target For Oil At $50

Sep 11, 2019 at 17:54 | Irina Slav

Crude oil could decline to $50 a barrel under the double weight of geopolitical concerns and rising production in the United States. That’s according to the co-head of global oil…

Oil Legend Boone Pickens Passes Away At 91

Oil Legend Boone Pickens Passes Away At 91

Sep 11, 2019 at 15:07 | Julianne Geiger

Oil legend T Boone Pickens passed away on Wednesday at age 91 at his Dallas home. He was most known for his strong opinions about American energy. Geologist by trade,…

China's Refined Oil Imports Jump 28.4% In August

China's Refined Oil Imports Jump 28.4% In August

Sep 11, 2019 at 12:58 | JLC

China’s imports of refined oil products in August jumped by 462,000 mt or 28.4% from the previous month but dropped by 615,000 mt or 22.7% from year-ago level to 2.089…

Aramco Gives Top IPO Roles To Nine Of The World’s Biggest Banks

Aramco Gives Top IPO Roles To Nine Of The World’s Biggest Banks

Sep 11, 2019 at 12:15 | Tsvetana Paraskova

Saudi Aramco has given the leading role in its share listing to nine of the world’s largest banks that would lead what will be the biggest initial public offering (IPO)…

OPEC Cuts 2019 Global Oil Demand Growth Forecast  

OPEC Cuts 2019 Global Oil Demand Growth Forecast  

Sep 11, 2019 at 11:29 | Tsvetana Paraskova

OPEC revised down on Wednesday its forecast for global oil demand growth this year by 80,000 bpd to 1.02 million bpd, citing weaker demand in the first half and expectations…

GE Cuts Baker Hughes Stake Below 50%

GE Cuts Baker Hughes Stake Below 50%

Sep 11, 2019 at 09:39 | Irina Slav

GE will sell more shares in Baker Hughes, which it acquired in 2017, and this will reduce its stake in the oilfield services provider below 50 percent, the company said…

Large Crude Inventory Draw Lifts Oil Prices

Large Crude Inventory Draw Lifts Oil Prices

Sep 10, 2019 at 15:47 | Julianne Geiger

The American Petroleum Institute (API) has estimated a large crude oil inventory draw of 7.227 million barrels for the week ending September 5, compared to analyst expectations of a

India Confirms Huge $44-Billion Refinery Will Probably Cost More

India Confirms Huge $44-Billion Refinery Will Probably Cost More

Sep 10, 2019 at 14:19 | Tsvetana Paraskova

The mega refinery complex that India plans with the national oil companies of Saudi Arabia and the United Arab Emirates (UAE) will cost more than the original US$44-billion estimate, Indian…

US May Slap Sanctions On Rosneft For Trading Venezuelan Oil

US May Slap Sanctions On Rosneft For Trading Venezuelan Oil

Sep 10, 2019 at 13:41 | Tsvetana Paraskova

The United States is not ruling out imposing sanctions on Russia’s oil giant Rosneft over its involvement in trading oil from Venezuela, Sputnik quoted the U.S. Special Representative for…

Japanese Minister: Radioactive Fukushima Water Could Be Dumped Into The Pacific

Japanese Minister: Radioactive Fukushima Water Could Be Dumped Into The Pacific

Sep 10, 2019 at 13:22 | Tsvetana Paraskova

Tokyo Electric Power (Tepco), the operator of the former Fukushima nuclear plant, is running out of storage to keep radioactive water from the 2011 disaster and may have to…

Mexican Minister Accused Of Unrealistic Oil Output Projections

Mexican Minister Accused Of Unrealistic Oil Output Projections

Sep 10, 2019 at 11:06 | Irina Slav

Mexico’s Finance Minister Arturo Herrera has had to defend the government’s budget proposal for next financial year after it came under fire for stipulating an unrealistic oil production growth rate.…

Venezuela Reels As Chinese Oil Giant Bends To U.S. Sanctions

Venezuela Reels As Chinese Oil Giant Bends To U.S. Sanctions

Sep 10, 2019 at 10:42 | Tsvetana Paraskova

China National Petroleum Corporation (CNPC), which was a key buyer of Venezuelan oil until recently, will not be purchasing oil from the South American country for a second month in…

A $1 Billion Oil Acquisition In The Gulf Of Mexico

A $1 Billion Oil Acquisition In The Gulf Of Mexico

Sep 10, 2019 at 09:14 | Irina Slav

Spain’s Repsol is in talks with Exxon to acquire some of the supermajor’s acreage in the Gulf of Mexico in a deal that could fetch up to $1 billion, Reuters…

Saudis Look To Enrich Uranium For Nuclear Power Program

Saudis Look To Enrich Uranium For Nuclear Power Program

Sep 09, 2019 at 17:04 | Tsvetana Paraskova

Saudi Arabia plans to have uranium produced and enriched in the future for a civil nuclear power program, the newly-appointed Saudi energy minister, Prince Abdulaziz bin Salman, said on…

OPEC, Allies May Discuss New Metrics To Monitor Oil Market

OPEC, Allies May Discuss New Metrics To Monitor Oil Market

Sep 09, 2019 at 17:00 | Tsvetana Paraskova

A monitoring committee of OPEC and its partners in the production cut deal could discuss this week adopting new metrics to monitor the state of the global oil market and…

Qatar Shortlists Oil Majors For LNG Expansion Project

Qatar Shortlists Oil Majors For LNG Expansion Project

Sep 09, 2019 at 14:07 | Tsvetana Paraskova

Qatar Petroleum has shortlisted several Big Oil firms willing to buy a stake in Qatar’s mega project to expand its liquefied natural gas (LNG) export capacity, and will look at…

Saudis Want Richest Families As Anchor Investors In Aramco IPO

Saudis Want Richest Families As Anchor Investors In Aramco IPO

Sep 09, 2019 at 12:11 | Tsvetana Paraskova

Saudi officials have approached some of the richest families in Saudi Arabia about potentially becoming anchor investors in the initial public offering (IPO) of state oil giant Aramco, Bloomberg

Mexico Confirms Series Of Oil Hedges, Including Pemex One

Mexico Confirms Series Of Oil Hedges, Including Pemex One

Sep 09, 2019 at 11:28 | Irina Slav

Mexico will hedge its oil production against low prices, the government said in its budget proposal for next financial year, and Pemex will conduct its own hedge. Reuters reports…

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