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U.S. Drilling Activity Slips

U.S. Drilling Activity Slips

The total number of active…

Why Shell Has Soured on The London Stock Exchange

Why Shell Has Soured on The London Stock Exchange

British multinational oil & gas…

What to Expect From Xi Jinping's Upcoming Eurotrip

What to Expect From Xi Jinping's Upcoming Eurotrip

Chinese leader Xi Jinping's upcoming…

News

Indian Refiners Rush To Buy Iranian Oil Before It’s Too Late

Indian Refiners Rush To Buy Iranian Oil Before It’s Too Late

Apr 12, 2019 at 18:07 | Tsvetana Paraskova

India’s oil imports from Iran increased by some 5 percent between March 2018 and March 2019 compared to the previous fiscal year through March 2018, because Indian refiners rushed…

U.S. To Slap Even More Sanctions On Venezuela To Kill Off Oil Exports To Cuba

U.S. To Slap Even More Sanctions On Venezuela To Kill Off Oil Exports To Cuba

Apr 12, 2019 at 17:19 | Julianne Geiger

Just a week after the United States levied additional sanctions on Venezuela in an effort to curb its oil exports, the US has again hit shipping companies doing business…

Protests In Oil-Rich Algeria Continue Even After Bouteflika’s Departure

Protests In Oil-Rich Algeria Continue Even After Bouteflika’s Departure

Apr 12, 2019 at 15:41 | Tsvetana Paraskova

Protests in Algeria continued on Friday, more than a week after Algeria’s president of 20 years, Abdelaziz Bouteflika, stepped down from the top office, with protesters angered at the…

Libya Could Lose Oil Production if Fighting Continues

Libya Could Lose Oil Production if Fighting Continues

Apr 12, 2019 at 13:58 | Irina Slav

Libya’s oil production is under threat from renewed fighting between warring armed groups and the situation could become as bad as it was during the 2011 civil war, the National…

Russia Replaces Venezuelan Crude On European Markets

Russia Replaces Venezuelan Crude On European Markets

Apr 12, 2019 at 12:50 | Irina Slav

European refiners are switching to Russian sour grades as U.S. sanctions have shrunk Venezuela’s similar-grade exports, Reuters reports, adding that the Russian sour crude is getting increasingly expensive. Citing…

Exxon Complains Of Toxic U.S. Govt Crude Oil

Exxon Complains Of Toxic U.S. Govt Crude Oil

Apr 12, 2019 at 10:23 | Tsvetana Paraskova

ExxonMobil has raised concerns that part of the crude oil it bought from the U.S. Strategic Petroleum Reserve (SPR) last year contained very high levels of the toxic hydrogen sulfide—the…

Venezuela Continues Shipping Oil To Cuba

Venezuela Continues Shipping Oil To Cuba

Apr 12, 2019 at 09:39 | Irina Slav

Venezuela has sent 1 million barrels of crude to Cuba despite pressure from the United States to suspend these shipments, Reuters reports citing a PDVSA document as well as…

North Korea Goes 'Green' To Skirt UN Sanctions

North Korea Goes 'Green' To Skirt UN Sanctions

Apr 11, 2019 at 18:12 | Julianne Geiger

North Korea is making its move into the renewable and other alternative energy business, according to a CNBC report. North Korea, which has suffered under the weight of sanctions that…

Algeria’s Oil Future Looks Grim

Algeria’s Oil Future Looks Grim

Apr 11, 2019 at 17:47 | Julianne Geiger

The future of Algeria’s oil industry was called into question earlier this week as its political crisis took hold, and now its future is even more suspect, as its state-run…

Tesla, Panasonic Reportedly Halt Nevada Gigafactory Expansion

Tesla, Panasonic Reportedly Halt Nevada Gigafactory Expansion

Apr 11, 2019 at 16:34 | Tsvetana Paraskova

Tesla and Panasonic have suspended plans to expand the battery capacity production of Gigafactory 1 in Nevada amid concerns that demand for Tesla’s electric vehicles may be weakening, business news…

Western Canada Sheds 17.5% Of Oil, Gas Producers Since 2014

Western Canada Sheds 17.5% Of Oil, Gas Producers Since 2014

Apr 11, 2019 at 13:44 | Tsvetana Paraskova

The number of active oil and gas producing companies in Western Canada declined by nearly 17.5 percent between December 2014, when oil prices were already crashing, and December 2018, a…

Shell Sells Billion Dollar Gulf Of Mexico Asset

Shell Sells Billion Dollar Gulf Of Mexico Asset

Apr 11, 2019 at 11:21 | Irina Slav

Shell has sold its 22.45-percent interest in the Anadarko-operated Caesar-Tonga field in the U.S. section of the Gulf of Mexico to Israeli Delek Group for US$965 million. Besides the…

Paris Agreement Could Trigger Free Fall In Oil Demand

Paris Agreement Could Trigger Free Fall In Oil Demand

Apr 11, 2019 at 09:42 | Irina Slav

Crude oil demand could begin declining steadily from 2025 onwards if governments and industries get serious about tackling climate change and reducing emissions, asset manager Legal and General Investment Management…

A Pivotal Moment For Natural Gas Demand

A Pivotal Moment For Natural Gas Demand

Apr 10, 2019 at 17:49 | Julianne Geiger

US natural gas-fired combined-cycle capacity overtook coal-fired capacity in 2018, the US Energy Information Administration reported on Wednesday. In the United States, natural gas-fired combined-cycle (NGCC) capacity has increased…

High-Hyped $12B Aramco Bond Sees Disappointing First-Day Moves

High-Hyped $12B Aramco Bond Sees Disappointing First-Day Moves

Apr 10, 2019 at 17:37 | Julianne Geiger

After seeing significant interest with an unprecedented $100 billion in orders on Tuesday, Aramco’s bond saw but mild upward moves on Wednesday, its first day out of the gate.…

UAE Oil Minister: OPEC Won’t Repeat Last Year’s Mistakes

UAE Oil Minister: OPEC Won’t Repeat Last Year’s Mistakes

Apr 10, 2019 at 17:27 | Tsvetana Paraskova

OPEC and its allies in the production cut deal are committed to rebalancing the market and will not repeat last year’s preemptive production increase to offset expectations of oil…

Does Puerto Rico Need More Natural Gas?

Does Puerto Rico Need More Natural Gas?

Apr 10, 2019 at 14:04 | Tsvetana Paraskova

The U.S. Department of Energy (DoE) believes that more natural gas-powered capacity will be in the best interest of recovering Puerto Rico’s power grid, Bruce Walker, Assistant Secretary at the…

Equinor Delays $6B UK Oil Field Start-Up, Again

Equinor Delays $6B UK Oil Field Start-Up, Again

Apr 10, 2019 at 11:45 | Tsvetana Paraskova

Norway’s Equinor is pushing back the start-up of a major heavy oil field offshore the UK to the second half of this year in order to check all electrical…

Venezuela’s PDVSA Opposition Board Could Decide Citgo’s Fate

Venezuela’s PDVSA Opposition Board Could Decide Citgo’s Fate

Apr 10, 2019 at 10:42 | Tsvetana Paraskova

The National Assembly of Venezuela—dominated by the opposition—has authorized the parallel opposition-elected board of state oil firm PDVSA to negotiate the company’s foreign debts, including whether to make later…

LNA Warns Of “Terrorist Attack” On Libya’s Oil Crescent

LNA Warns Of “Terrorist Attack” On Libya’s Oil Crescent

Apr 10, 2019 at 09:15 | Irina Slav

"Today, a very large meeting of terrorist groups and armed groups took place in Sirte, we know who they belong to. They have a plan proposed at the meeting to attack the Oil Crescent",…

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