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Oil Moves Down on Crude Inventory Build

Oil Moves Down on Crude Inventory Build

Crude oil prices moved lower…

Rising Middle East Risk Sparks Fear of $100 Oil

Rising Middle East Risk Sparks Fear of $100 Oil

In case of further escalation,…

News

Saudi Aramco Looks To Invest More In India’s Oil Refining Market

Saudi Aramco Looks To Invest More In India’s Oil Refining Market

Feb 20, 2019 at 13:19 | Tsvetana Paraskova

India is an investment priority for Saudi Aramco, the chief executive of the Saudi oil giant Amin Nasser said on Wednesday in New Delhi, noting that Aramco is in…

Commonwealth LNG Strikes Supply Commitments for Louisiana Plant

Commonwealth LNG Strikes Supply Commitments for Louisiana Plant

Feb 20, 2019 at 13:05 | Irina Slav

Commonwealth LNG has struck purchase commitments with European clients for almost half the annual capacity of its liquefaction plant in Louisiana, Reuters reports, quoting chief executive Paul Varello. The…

Alberta Increases Oil-by-Rail Bet with 4,400 Rail Cars Lease

Alberta Increases Oil-by-Rail Bet with 4,400 Rail Cars Lease

Feb 20, 2019 at 12:02 | Irina Slav

Alberta has increased its bet on oil-by-rail transportation in the absence of new pipeline projects moving ahead, and will now lease 4,400 new rail cars to move more of its…

TransCanada Restarts Keystone

TransCanada Restarts Keystone

Feb 20, 2019 at 09:33 | Irina Slav

TransCanada has restarted a section of its Keystone oil pipeline that was shut down after a leak of about 43 barrels of crude occurred in Missouri earlier this month, Reuters…

Iran’s Oil Exports Higher Than Expected In January, February

Iran’s Oil Exports Higher Than Expected In January, February

Feb 19, 2019 at 13:05 | Tsvetana Paraskova

Iranian crude oil exports in January were higher than expected, while February shipments so far have been holding steady or even higher compared to last month, as several of Iran’s…

$44B Indian-Saudi-UAE Oil Refinery Hinges On India’s Elections

$44B Indian-Saudi-UAE Oil Refinery Hinges On India’s Elections

Feb 19, 2019 at 12:45 | Tsvetana Paraskova

The fate of a proposed mega refinery and petrochemical complex in India worth US$44 billion and involving the national oil companies of Saudi Arabia and the UAE could depend…

TransCanada Applies For West-East Gas Shipment Clearance

TransCanada Applies For West-East Gas Shipment Clearance

Feb 19, 2019 at 12:35 | Irina Slav

TransCanada has applied with the National Energy Board of Canada for permission to start transporting natural gas from the west of the country to New Brunswick in the east, using…

Citgo Ousts Executives Close To Maduro

Citgo Ousts Executives Close To Maduro

Feb 19, 2019 at 12:24 | Irina Slav

Citgo, the U.S. unit of Venezuela’s PDVSA, has removed from their positions four top executives as the battle for control over the company between the Maduro government and the opposition,…

Equinor Plans Start Of Drilling In Australia Next Year

Equinor Plans Start Of Drilling In Australia Next Year

Feb 19, 2019 at 10:10 | Irina Slav

Norway’s Equinor plans to start exploratory drilling offshore Australia next year, the company said in the draft environmental plan it released today for public comment as part of efforts…

Tesla’s “Secret Weapon” Disappears From Website And Fans Are Panicking

Tesla’s “Secret Weapon” Disappears From Website And Fans Are Panicking

Feb 19, 2019 at 09:42 | Irina Slav

Tesla has removed all information it had about its Model 3 standard version on its website and some fans of the brand are panicking, Electrek’s Fred Lambert reports. It…

Saudis Started Slashing Crude Oil Exports In December

Saudis Started Slashing Crude Oil Exports In December

Feb 18, 2019 at 18:44 | Tsvetana Paraskova

Saudi Arabia’s crude oil exports plunged by nearly 550,000 bpd to 7.687 million bpd in December 2019, down from a two-year high in November, as the Kingdom started to…

Europe Scrambles For Sour Crude Oil Amid Tight Market

Europe Scrambles For Sour Crude Oil Amid Tight Market

Feb 18, 2019 at 18:40 | Tsvetana Paraskova

OPEC’s production cuts and the U.S. sanctions on Venezuela and Iran have been limiting the availability of heavy and sour crude grades to Europe, where prices for heavier grades have…

Scientists Develop Wave Energy Device That Generates Low-Cost Electricity

Scientists Develop Wave Energy Device That Generates Low-Cost Electricity

Feb 18, 2019 at 18:31 | Tsvetana Paraskova

Engineers from Scotland and Italy have developed a new wave energy technology that could generate low-cost electricity for thousands of homes. Engineers from the University of Edinburgh and from…

Iran Says It’s Now Self-Sufficient In Gasoline

Iran Says It’s Now Self-Sufficient In Gasoline

Feb 18, 2019 at 15:38 | Tsvetana Paraskova

Iran has launched the third phase of a new refinery, making the country self-sufficient in gasoline production, Iranian Oil Minister Bijan Zangeneh said on Monday. At the opening ceremony…

Gas Expert Says U.S., Russia Need To Focus On Cutting Emissions

Gas Expert Says U.S., Russia Need To Focus On Cutting Emissions

Feb 18, 2019 at 15:31 | Irina Slav

An Austrian natural gas expert has warned Washington and Kremlin they have to set their priorities straight and focus their efforts on reducing the world’s carbon emissions rather than growing…

Russia’s Gazprom To Start China Gas Pipeline By December 1

Russia’s Gazprom To Start China Gas Pipeline By December 1

Feb 18, 2019 at 13:55 | Tsvetana Paraskova

Russia’s gas giant Gazprom will begin natural gas deliveries to China via the Power of Siberia pipeline ahead of schedule, as early as December 1, 2019, Alexey Miller, Chairman of…

Indian Oil Corp. Inks First Annual U.S. Oil Import Deal

Indian Oil Corp. Inks First Annual U.S. Oil Import Deal

Feb 18, 2019 at 11:58 | Irina Slav

Indian Oil Corp., the country’s largest oil refiner, has signed its first annual contract for deliveries of crude oil from the United States, Reuters reports, citing a statement by…

Gazprombank Reportedly Freezes PDVSA Accounts

Gazprombank Reportedly Freezes PDVSA Accounts

Feb 18, 2019 at 11:23 | Irina Slav

Gazprombank has reportedly frozen accounts held by Venezuela’s state oil company PDVSA and has stopped conducting transactions involving these accounts on concern of getting penalized under the latest round of…

Kenya Cuts Diplomatic Ties With Somalia Over Oil Row

Kenya Cuts Diplomatic Ties With Somalia Over Oil Row

Feb 18, 2019 at 09:45 | Irina Slav

Kenya broke diplomatic relations with neighbor Somalia after a row over several oil and gas blocks escalated into an open conflict, media report, adding Nairobi expelled the Somali ambassador…

Mexico To Support Indebted State Oil Firm Pemex With $3.6B

Mexico To Support Indebted State Oil Firm Pemex With $3.6B

Feb 15, 2019 at 15:40 | Tsvetana Paraskova

Mexico will support Pemex by injecting US$3.6 billion into the debt-laden state-held oil firm, including by refinancing debt and cutting taxes, Mexican officials said on Friday. The Mexican government,…

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