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Breaking News:

Oil Prices Gain 2% on Tightening Supply

Is U.S. Shale Production Finally Nearing Its Peak?

Is U.S. Shale Production Finally Nearing Its Peak?

U.S. shale oil production could…

Optimism on the Horizon: Positive Trends in the UK Economy

Optimism on the Horizon: Positive Trends in the UK Economy

This week’s surveys suggest that…

News

U.S. Nuclear Power Generation At All-Time High Despite Closures

U.S. Nuclear Power Generation At All-Time High Despite Closures

Mar 22, 2019 at 18:50 | Tsvetana Paraskova

Despite the fact that several nuclear power plants have closed since 2010, last year’s U.S. nuclear electricity generation beat the previous record from 2010, as some plants commissioned uprates to…

Venezuela National Assembly Votes For Ban On Oil Shipments to Cuba

Venezuela National Assembly Votes For Ban On Oil Shipments to Cuba

Mar 22, 2019 at 17:47 | Irina Slav

The opposition-led National Assembly of Venezuela this week voted to suspend crude oil shipments to Cuba after its president, Juan Guaido, slammed these exports as “funding dark purposes” in a…

Spain Plans Large Grid Investments To Integrate Renewables

Spain Plans Large Grid Investments To Integrate Renewables

Mar 22, 2019 at 16:33 | Tsvetana Paraskova

Spain’s grid operator will invest billions of U.S. dollars by 2022 to accommodate and integrate a planned increase in the country’s renewable energy capacity, the grid operator Red Eléctrica de…

Five 2020 U.S. Democrats Would Return To Iran Nuclear Deal

Five 2020 U.S. Democrats Would Return To Iran Nuclear Deal

Mar 22, 2019 at 13:55 | Tsvetana Paraskova

Five U.S. Democratic presidential hopefuls would re-join—if elected president—the Iranian nuclear deal, from which U.S. President Donald Trump withdrew last year imposing sanctions on Iran’s oil industry, Al-Monitor reports,…

Exxon Could Be Stripped Of European Parliament Lobby Access

Exxon Could Be Stripped Of European Parliament Lobby Access

Mar 22, 2019 at 11:26 | Irina Slav

Exxon could lose its lobbying access to the European parliament after no company representative showed up at a hearing on climate change denial, the Guardian reports. A member of…

Mexico to Use Stabilization Fund to Pay Down Pemex Debt

Mexico to Use Stabilization Fund to Pay Down Pemex Debt

Mar 22, 2019 at 10:46 | Irina Slav

The Mexican government plans to use money from a public income stabilization fund to help reduce the sizeable debt pile that state energy major Pemex has accumulated. Reuters reports,…

Iran Says It Exports First Condensate From New South Pars Phase

Iran Says It Exports First Condensate From New South Pars Phase

Mar 21, 2019 at 18:59 | Tsvetana Paraskova

Iran has delivered for export the first shipment from a new development phase of the giant gas field South Pars, including 300,000 barrels of condensate, Iranian media report, quoting…

Iran’s Oil Exports Drop Ahead Of U.S. Waivers Decision

Iran’s Oil Exports Drop Ahead Of U.S. Waivers Decision

Mar 21, 2019 at 18:56 | Tsvetana Paraskova

While Iranian customers have started negotiations with the U.S. on possible waiver extensions to continue buying oil from Tehran, Iran’s oil exports so far in March are down from January…

Reliance To Skirt Sanctions By Selling PDVSA European, Indian Naphtha

Reliance To Skirt Sanctions By Selling PDVSA European, Indian Naphtha

Mar 21, 2019 at 18:43 | Irina Slav

Reliance Industries has started selling oil products including the popular diluent naphtha to PDVSA from its Indian and European subsidiaries after it suspended oil product sales to the troubled Venezuelan…

Murphy Oil Is Latest Firm To Sell Assets Abroad In Focus On Shale

Murphy Oil Is Latest Firm To Sell Assets Abroad In Focus On Shale

Mar 21, 2019 at 17:09 | Tsvetana Paraskova

Murphy Oil Corporation has signed a deal to sell its assets in Malaysia, becoming the latest U.S. company to exit projects abroad as it focuses on high-margin opportunities in…

Brazil’s Petrobras Reassesses Oil Refinery Deal With China’s CNPC

Brazil’s Petrobras Reassesses Oil Refinery Deal With China’s CNPC

Mar 21, 2019 at 16:59 | Tsvetana Paraskova

Brazilian state-held oil firm Petrobras is re-evaluating a preliminary deal with China National Petroleum Corporation (CNPC) to build an oil refinery in the state of Rio de Janeiro, Brazilian economic…

Judge Blocks Oil, Gas Drilling Projects Citing Climate Change

Judge Blocks Oil, Gas Drilling Projects Citing Climate Change

Mar 21, 2019 at 14:09 | Irina Slav

A federal judge blocked oil and gas drilling in part of Wyoming, claiming the Department of the Interior had not considered the implications of drilling with respect to climate change…

Oil Group Criticizes Canada Government For Neglecting Oil Industry

Oil Group Criticizes Canada Government For Neglecting Oil Industry

Mar 21, 2019 at 11:36 | Irina Slav

Canada’s federal government does not consider the Albertan oil industry a priority despite its central importance to the provincial economy, the Canadian Association of Petroleum Producers said after Ottawa released…

BP Faces Platform Workers’ Strike

BP Faces Platform Workers’ Strike

Mar 21, 2019 at 10:49 | Irina Slav

Petrofac workers on BP offshore platforms plan to walk out of all platforms as a result of an unresolved dispute regarding work rota arrangements. “The workforce are rightly demanding that…

Oman Denies It’s Part Of $4B Oil Refinery Investment In Sri Lanka

Oman Denies It’s Part Of $4B Oil Refinery Investment In Sri Lanka

Mar 20, 2019 at 18:44 | Tsvetana Paraskova

Middle Eastern oil producer Oman denied on Wednesday that it was part of an oil refinery project worth US$3.85 billion in Sri Lanka, announced by Sri Lanka officials on…

U.S. Renews Sanctions Waiver For Iraq To Buy Energy From Iran

U.S. Renews Sanctions Waiver For Iraq To Buy Energy From Iran

Mar 20, 2019 at 18:38 | Tsvetana Paraskova

The U.S. Administration has renewed for another 90 days a sanctions waiver for Iraq to continue importing energy from neighboring Iran despite the American sanctions on Tehran, an official with…

European Authority: Norway’s Oil Exploration Refund Isn’t State Aid

European Authority: Norway’s Oil Exploration Refund Isn’t State Aid

Mar 20, 2019 at 18:28 | Tsvetana Paraskova

Norway’s taxation legislation allowing companies to claim refunds for exploration costs is not the same as state aid, the EFTA Surveillance Authority (ESA) said on Wednesday after examining a…

Japanese Refiners To Stop Iran Oil Purchases By April

Japanese Refiners To Stop Iran Oil Purchases By April

Mar 20, 2019 at 17:37 | Irina Slav

Japanese refiners are unlikely to continue buying Iranian crude from April onwards, the president of the Petroleum Association of Japan said as quoted by Reuters. However, Takashi Tsukuoka added…

BP Considers Powering U.S. Operations With Solar

BP Considers Powering U.S. Operations With Solar

Mar 20, 2019 at 13:28 | Irina Slav

BP is planning to start powering some of its operations in the United States with electricity produced by solar farms, Bloomberg reports, quoting the chief executive of an affiliate,…

UAE Hopes OPEC+ Alliance Will Be Formalized In June

UAE Hopes OPEC+ Alliance Will Be Formalized In June

Mar 20, 2019 at 13:25 | Tsvetana Paraskova

OPEC and its non-OPEC allies could sign in June a pact to make their oil market-managing policies formal, Suhail Al Mazrouei, the energy minister of one of OPEC’s largest producers,…

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