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News

Oil Dips On Renewed Kuwait/Saudi ‘Neutral Zone’ Oil Production Talks

Oil Dips On Renewed Kuwait/Saudi ‘Neutral Zone’ Oil Production Talks

Jul 24, 2019 at 16:43 | Julianne Geiger

Oil prices cheered on Wednesday following the EIA’s report that crude oil inventories in the United States had drawn down by almost 11 million barrels. But the levity among the…

Nigeria’s NNPC Withholds Payments To Eni

Nigeria’s NNPC Withholds Payments To Eni

Jul 24, 2019 at 16:37 | Julianne Geiger

Nigeria’s state oil firm on Wednesday said that it had stopped payments to Eni three months ago, according to Reuters, adding that it planned to let some of Eni’s…

Greens Leader Vows To ‘Eat His Hat’ If Ireland Doesn’t Halt Oil, Gas Exploration

Greens Leader Vows To ‘Eat His Hat’ If Ireland Doesn’t Halt Oil, Gas Exploration

Jul 24, 2019 at 15:16 | Tsvetana Paraskova

Eamon Ryan, the leader of the Green Party in Ireland, said on Wednesday that he would be discussing climate action with all parties and will ‘eat his hat’ if…

Entertainment City: Saudi Arabia's Next Move To Diversify From Oil

Entertainment City: Saudi Arabia's Next Move To Diversify From Oil

Jul 24, 2019 at 14:17 | Tsvetana Paraskova

Saudi Arabia is talking to investors from the Middle East and the rest of the world to join fund the development of a mega city of entertainment and sports,…

Israel To Begin Exporting Natural Gas To Egypt Soon

Israel To Begin Exporting Natural Gas To Egypt Soon

Jul 24, 2019 at 12:48 | Tsvetana Paraskova

Israel is set to start natural gas exports to Egypt within four months, Israeli Energy Minister Yuval Steinitz told Reuters on Wednesday. Israel and Egypt, which mark this year…

Is Trump Willing To Negotiate ‘Safe Exit’ For Venezuela’s Maduro?

Is Trump Willing To Negotiate ‘Safe Exit’ For Venezuela’s Maduro?

Jul 24, 2019 at 11:56 | Irina Slav

The Trump administration may be willing to negotiate a safe exit for Venezuelan president Nicolas Maduro if he agrees to step down soon enough, an anonymous source from the administration…

Canadian Energy Giant Aims For Net Zero Oil Sands Emissions

Canadian Energy Giant Aims For Net Zero Oil Sands Emissions

Jul 24, 2019 at 09:23 | Tsvetana Paraskova

Canadian Natural Resources, Canada’s biggest oil and producer, is looking to achieve net zero emissions in its oil sands operations by using innovative technologies, executive vice chairman Steve Laut told…

Oil Spikes After API Reports Largest Crude Inventory Draw Of The Year

Oil Spikes After API Reports Largest Crude Inventory Draw Of The Year

Jul 23, 2019 at 15:44 | Julianne Geiger

The American Petroleum Institute (API) reported a huge crude oil inventory draw of  10.961 million barrels for the week ending July 18, compared to analyst expectations of a much smaller—but…

Chevron Finds New Friend In Venezuela’s Juan Guaido

Chevron Finds New Friend In Venezuela’s Juan Guaido

Jul 23, 2019 at 13:55 | Julianne Geiger

Hope for crisis-stricken Venezuela may be dwindling, but Chevron—who has been steadfastly operating in the country for almost 100 years despite the unattractive business environment—can rest a bit easier today…

Iran: We Will Be “Guardian Of Security” In Gulf, Strait Of Hormuz

Iran: We Will Be “Guardian Of Security” In Gulf, Strait Of Hormuz

Jul 23, 2019 at 13:22 | Tsvetana Paraskova

Iranian officials have reassured Iraq that there would be freedom of navigation in the Strait of Hormuz, the most critical oil shipping lane in the world, the Iraqi oil…

Saudi Plan To Get Stake In India’s Largest Company Hits A Snag

Saudi Plan To Get Stake In India’s Largest Company Hits A Snag

Jul 23, 2019 at 13:10 | Tsvetana Paraskova

Discussions between India’s largest company, Reliance Industries, and Aramco, the world’s single biggest oil producing firm, have hit a stumbling block as the Indians want higher valuation than the Saudis…

Nigeria’s State Oil Firm Secures $3B Deal To Develop Oil License

Nigeria’s State Oil Firm Secures $3B Deal To Develop Oil License

Jul 23, 2019 at 12:05 | Tsvetana Paraskova

The Nigerian National Petroleum Corporation (NNPC) said on Tuesday that it had secured a US$3.15 billion financial and technical services agreement with local firm Sterling Oil Exploration & Energy…

Ex PDVSA Manager Found Dead After Testifying In Spanish Court

Ex PDVSA Manager Found Dead After Testifying In Spanish Court

Jul 23, 2019 at 11:56 | Tsvetana Paraskova

Juan Carlos Márquez, 48, a former executive at PDVSA, was found hanged in a flat in Madrid on Sunday, days after he was arrested and appeared in court over his…

Utility Builds Zero-Carbon Gas Power Plants

Utility Builds Zero-Carbon Gas Power Plants

Jul 23, 2019 at 11:01 | Irina Slav

NET Power, a utility set up in 2010, is building zero-carbon natural gas-fired power plants in the United States and abroad and plans on making them cheap enough in the…

Venezuela Says Electromagnetic Attack Behind Latest Blackout

Venezuela Says Electromagnetic Attack Behind Latest Blackout

Jul 23, 2019 at 09:06 | Irina Slav

Another blackout turned the lights off in more than half of Venezuela, Reuters reports citing witnesses and social media posts. The report added that Caracas had blamed the blackout…

Putin Calls For End To ‘Generous’ Oil Industry Tax Breaks

Putin Calls For End To ‘Generous’ Oil Industry Tax Breaks

Jul 22, 2019 at 17:33 | Julianne Geiger

The Russian government’s generous tax break to its largest oil company, Rosneft, for work on its largest oilfield, the Priobskoye, is being called into question by President Vladimir Putin, according…

Russia’s Novatek Hits Major Milestones In Arctic LNG Plans

Russia’s Novatek Hits Major Milestones In Arctic LNG Plans

Jul 22, 2019 at 17:17 | Tsvetana Paraskova

Russian gas producer Novatek closed on Monday the sale of stakes in its Arctic LNG 2 project, just days after Russia’s government approved the construction of a liquefied natural gas…

Halliburton Beats Profit Estimates Despite “Challenging” North America Market

Halliburton Beats Profit Estimates Despite “Challenging” North America Market

Jul 22, 2019 at 16:06 | Tsvetana Paraskova

Oilfield services provider Halliburton Company (NYSE:HAL) on Monday beat analyst estimates in its Q2 earnings, thanks to growth in international markets that offset lagging activity in North America, the…

UAE, Chinese State Firms To Boost Oil & LNG Cooperation

UAE, Chinese State Firms To Boost Oil & LNG Cooperation

Jul 22, 2019 at 13:31 | Tsvetana Paraskova

The Abu Dhabi National Oil Company (ADNOC) signed on Monday a strategic cooperation agreement with China National Offshore Oil Corporation (CNOOC) as one of OPEC’s largest producers agreed to…

Libya Lifts Force Majeure After Giant Sharara Field Starts Pumping Again

Libya Lifts Force Majeure After Giant Sharara Field Starts Pumping Again

Jul 22, 2019 at 12:04 | Irina Slav

Libya has lifted its force majeure on Monday after it stopped loading crude oil for the weekend from the Zawiya terminal following the suspension of production from the country’s largest…

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