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News

Eni Strikes Major Gas Find In Nigeria

Eni Strikes Major Gas Find In Nigeria

Aug 27, 2019 at 10:21 | Irina Slav

Italy’s Eni made a major natural gas find in the Niger Delta, with the reservoir estimated to hold about 1 trillion cu ft of gas and 60 million barrels of…

Tariffs To Decimate China’s US Crude Oil Imports

Tariffs To Decimate China’s US Crude Oil Imports

Aug 27, 2019 at 09:50 | JLC

China is likely to stop the import of US crude, as 5% tariffs on such crude will be put into place starting from September 1, 2019 and the country has…

Plains All American Scraps Plans Let Customers Pay For Steel Tariffs

Plains All American Scraps Plans Let Customers Pay For Steel Tariffs

Aug 26, 2019 at 17:31 | Julianne Geiger

Plains All American will not be passing on its steel tariff fees to its Cactus II customers after all, after threatening to pass on the cost it will incur to…

Trade War Escalation Forces Tesla To Raise Chinese Prices Earlier

Trade War Escalation Forces Tesla To Raise Chinese Prices Earlier

Aug 26, 2019 at 16:24 | Tsvetana Paraskova

Tesla will raise the prices of the vehicles it sells in China as early as this week, in response to the latest escalation of the U.S.-China trade war in…

China’s Sinopec Seeks Tariff Waiver For US Crude Oil

China’s Sinopec Seeks Tariff Waiver For US Crude Oil

Aug 26, 2019 at 16:13 | Tsvetana Paraskova

The biggest refiner in China and in Asia, Sinopec, plans to apply for a tariff exemption with the Chinese government for its imports of U.S. crude oil, Reuters reported…

U.S. Administration Picks ConocoPhilips For Alaska North Slope Oil Project

U.S. Administration Picks ConocoPhilips For Alaska North Slope Oil Project

Aug 26, 2019 at 13:35 | Irina Slav

The U.S. federal government has selected a preferential development plan for the Willow oil project that is led by ConocoPhillips. The AP reports that the project could boost Alaska’s…

Iran Says It Sold The Oil Aboard The Tanker Gibraltar Released

Iran Says It Sold The Oil Aboard The Tanker Gibraltar Released

Aug 26, 2019 at 10:22 | Tsvetana Paraskova

Days after the U.S. warned, again, that anyone dealing with the Iranian oil tanker released by Gibraltar would face sanctions, Iran said on Monday that it had sold…

Iran Foreign Minister Surprises G7 Leaders With Visit

Iran Foreign Minister Surprises G7 Leaders With Visit

Aug 26, 2019 at 09:36 | Irina Slav

Iran’s Foreign Minister surprisingly visited the G7 summit in France this Sunday, to hold talks with world leaders that lasted three hours, according to Reuters. The official, who is…

Explosion Rocks Venezuela Oil Plant

Explosion Rocks Venezuela Oil Plant

Aug 26, 2019 at 09:16 | Irina Slav

An explosion rocked a natural gas-filling plant in the Venezuelan state of Miranda, forcing the evacuation of 6,500 local residents, Telesur reports, adding the Venezuelan government has called the…

Mexico Says No New Oil Contracts For Non-Producers

Mexico Says No New Oil Contracts For Non-Producers

Aug 23, 2019 at 16:04 | Julianne Geiger

Oil and gas companies hoping to get a piece of the action in Mexico’s oil industry will have to make good on existing contracts first, Mexico’s president Andres Manuel Lopez…

Asian Refining Margins Tumble As New Shipping Fuel Rules Loom

Asian Refining Margins Tumble As New Shipping Fuel Rules Loom

Aug 23, 2019 at 15:57 | Tsvetana Paraskova

Refining margins in Asia have slumped by more than 50 percent since the middle of July as fuel market participants have accelerated the sell-off of high-sulfur fuel oil ahead of…

Libya’s State Oil Corporation Seeks 67% Pay Rise In Energy Sector

Libya’s State Oil Corporation Seeks 67% Pay Rise In Energy Sector

Aug 23, 2019 at 15:53 | Tsvetana Paraskova

Libya’s National Oil Corporation (NOC) reiterated on Friday its demand for a 67-percent pay increase for the workers in the oil and gas sector, the state oil firm said…

U.S. Imports Mostly Heavy Crude As Light Oil Production Booms

U.S. Imports Mostly Heavy Crude As Light Oil Production Booms

Aug 23, 2019 at 12:25 | Tsvetana Paraskova

The United States is currently the world’s largest crude oil producer, but it still needs to import heavy varieties of oil, as most of the domestic output tends to be…

Tesla Discusses Batteries For Its China-Made Cars With LG Chem

Tesla Discusses Batteries For Its China-Made Cars With LG Chem

Aug 23, 2019 at 12:09 | Tsvetana Paraskova

Tesla is at an advanced stage of talks with South Korea’s LG Chem to use batteries other than Panasonic’s for the electric vehicles it would be manufacturing at its Chinese…

U.S. Warns Again It Will Go After Anyone Helping Iran Tanker

U.S. Warns Again It Will Go After Anyone Helping Iran Tanker

Aug 23, 2019 at 10:10 | Irina Slav

The United States will respond aggressively to any party helping the now notorious Iranian tanker Adrian Darya 1, formerly Grace 1, which was released from Gibraltar earlier this week. Reuters…

Turkey Affirms Its Claim On Cyprus Oil And Gas

Turkey Affirms Its Claim On Cyprus Oil And Gas

Aug 23, 2019 at 09:17 | Irina Slav

Turkey will continue exploring for oil and gas in the eastern Mediterranean waters around disputed Cyprus, and “No project can be realised if Turkey and the Turkish Republic of Northern…

UK’s Oil Tanker May Soon Be Released

UK’s Oil Tanker May Soon Be Released

Aug 22, 2019 at 17:28 | Julianne Geiger

Another chapter in the drama on the seas may soon be over. Swedish public service broadcaster SVT says that sources within the Swedish foreign ministry has given it strong indications…

South Sudan Finds First Oil Since Its Independence

South Sudan Finds First Oil Since Its Independence

Aug 22, 2019 at 17:17 | Julianne Geiger

South Sudan’s oil minister reported on Thursday that the country has made its first oil discovery since declaring its independence eight years ago, according to Reuters. The latest oil…

Bernie Sanders Takes Aim at Fossil Fuel Industry in $16T Plan

Bernie Sanders Takes Aim at Fossil Fuel Industry in $16T Plan

Aug 22, 2019 at 17:04 | Tsvetana Paraskova

Hours after the most prominent climate activist among Democratic presidential hopefuls, Jay Inslee, quit the Democratic primary race, Bernie Sanders unveiled a US$16.3-trillion plan to tackle climate change and…

Volkswagen Denies It’s Interested In Buying Stake In Tesla

Volkswagen Denies It’s Interested In Buying Stake In Tesla

Aug 22, 2019 at 15:07 | Tsvetana Paraskova

One of the world’s largest carmakers, Germany’s Volkswagen AG, denied on Thursday a report that its chief executive officer was interested in buying a stake in Tesla in order…

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