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Breaking News:

Oil Prices Gain 2% on Tightening Supply

EU and Turkmenistan Eye New Energy Partnerships

EU and Turkmenistan Eye New Energy Partnerships

Turkmenistan's Foreign Minister announces an…

News

OPEC Prepared To Call ‘Extraordinary Meeting’ As Oil Falls

OPEC Prepared To Call ‘Extraordinary Meeting’ As Oil Falls

Dec 24, 2018 at 12:03 | Irina Slav

Just a couple of weeks after OPEC and its partners agreed to implement another round of production cuts, the cartel is ready to extend these cuts as international prices continue…

Reformist Prince In World’s Top Oil Exporter Saudi Arabia Dies

Reformist Prince In World’s Top Oil Exporter Saudi Arabia Dies

Dec 24, 2018 at 11:10 | Tsvetana Paraskova

Prince Talal bin Abdulaziz, a senior member of the royal family in the world’s top oil exporter Saudi Arabia, who was a supporter of women’s rights, has died at…

China’s LNG Imports Jump To Record High In November

China’s LNG Imports Jump To Record High In November

Dec 24, 2018 at 09:39 | Tsvetana Paraskova

Chinese liquefied natural gas (LNG) imports soared by 48.5 percent in November 2018, compared to the same month last year, as China continues to have parts of the country switch…

French Court Fines Oil Major Total Over 1997 Bribery Case In Iran

French Court Fines Oil Major Total Over 1997 Bribery Case In Iran

Dec 21, 2018 at 14:23 | Tsvetana Paraskova

A court in Paris fined on Friday France’s oil and gas major Total with US$572,330 (500,000 euro) for having bribed public officials in 1997 in exchange for securing oil…

BP Approves Major Cross-Border LNG Project Offshore Africa

BP Approves Major Cross-Border LNG Project Offshore Africa

Dec 21, 2018 at 14:15 | Tsvetana Paraskova

Supermajor BP and partners announced on Friday the final investment decision for the Greater Tortue Ahmeyim liquefied natural gas (LNG) project offshore Senegal and Mauritania in West Africa. The…

U.S. Extends Iran Sanctions Waiver For Iraq With 90 Days  

U.S. Extends Iran Sanctions Waiver For Iraq With 90 Days  

Dec 21, 2018 at 14:09 | Tsvetana Paraskova

The United States has given Iraq a 90-day extension to the initial 45-day waiver allowing Baghdad to continue imports of electricity from Iran after the U.S. sanctions on Tehran returned,…

Maduro May Sack Oil Minister As Venezuela Sinks

Maduro May Sack Oil Minister As Venezuela Sinks

Dec 21, 2018 at 11:42 | Tsvetana Paraskova

When Nicolas Maduro is inaugurated for a second six-year term in office next month, Venezuela’s president could sack the Oil Minister and CEO at the state oil firm PDVSA, Manuel…

Australia Expects Higher LNG Exports Next Year

Australia Expects Higher LNG Exports Next Year

Dec 21, 2018 at 10:59 | Irina Slav

Australia will likely export more liquefied natural gas in the next financial year—to end-June 2019—after the start of production of three more large-scale facilities offshore during the second half of…

India Oil Imports Take 11% Hit In November

India Oil Imports Take 11% Hit In November

Dec 21, 2018 at 08:52 | Irina Slav

India’s crude oil imports last month totaled 4.2 million tons daily, or 17 million tons for the whole period, which was 11.4 percent lower than the foreign oil intake for…

U.S. Indicts Chinese Nationals Over Global Hack Campaign

U.S. Indicts Chinese Nationals Over Global Hack Campaign

Dec 20, 2018 at 16:15 | Tsvetana Paraskova

The U.S. Department of Justice said on Thursday it was charging two Chinese hackers associated with China’s Ministry of State Security with global cyber attacks that aimed to steal…

Total To Launch Oil Exports From New Nigerian Field In February

Total To Launch Oil Exports From New Nigerian Field In February

Dec 20, 2018 at 14:50 | Tsvetana Paraskova

Just as OPEC and partners will have started the new round of production cuts to reduce oversupply, France’s Total is set to begin exports from the new ultra-deep Egina oil…

Exxon Suspends Canadian WCC LNG Project

Exxon Suspends Canadian WCC LNG Project

Dec 20, 2018 at 14:37 | Tsvetana Paraskova

ExxonMobil has withdrawn its Canadian liquefied natural gas (LNG) export project WCC from an environmental impact review, effectively meaning that the plan has been shelved.   The WCC LNG project,…

U.S. Shale Growth Could Derail OPEC’s Oil Market Balance Plans

U.S. Shale Growth Could Derail OPEC’s Oil Market Balance Plans

Dec 20, 2018 at 14:13 | Tsvetana Paraskova

Current estimates by the U.S. Energy Information Administration (EIA) show that U.S. crude oil production growth in 2019 should basically offset the new production cut that OPEC and partners…

IEA Head: U.S. Oil Production To Rise, Venezuela To Fall Further

IEA Head: U.S. Oil Production To Rise, Venezuela To Fall Further

Dec 20, 2018 at 13:59 | Tsvetana Paraskova

U.S. oil production will continue to grow at a rapid pace until 2025, while Venezuela’s crude output is set for further declines, Fatih Birol, the Executive Director of the International…

OPEC To Publish Individual Production Cut Quotas

OPEC To Publish Individual Production Cut Quotas

Dec 20, 2018 at 13:36 | Tsvetana Paraskova

Contrary to initial reports that OPEC will not make public the country quotas in the new production cut deal, the cartel now plans to publish a table of each OPEC…

Panel Grants Go-Ahead To Line 5 Replacement In Great Lakes Area

Panel Grants Go-Ahead To Line 5 Replacement In Great Lakes Area

Dec 20, 2018 at 11:58 | Irina Slav

A panel set up to evaluate the environmental risks of replacing a section of Enbridge’s Line 5 oil pipeline in Michigan has given the project the green light, AP

DoE Drops LNG Final Destination Reporting Requirement

DoE Drops LNG Final Destination Reporting Requirement

Dec 20, 2018 at 11:03 | Irina Slav

The Department of Energy has removed a requirement that says U.S. LNG exporters need to report what the final destination of the cargo is in a bid to facilitate greater…

Sharara To Reopen After PM Negotiates Withdrawal Of Protesters

Sharara To Reopen After PM Negotiates Withdrawal Of Protesters

Dec 20, 2018 at 09:25 | Irina Slav

Libya’s largest oil field Sharara will reopen after Prime Minister Fayez al-Sarraj negotiated with the protesters that had blockaded it and agreed to meet their demands, Libyan media report.…

Exxon Granted Hardship Waiver From Biofuel Laws

Exxon Granted Hardship Waiver From Biofuel Laws

Dec 19, 2018 at 15:26 | Julianne Geiger

Exxon Mobil managed to get its hands on a financial hardship waiver from the EPA that will allow its Billings Refinery in Montana to escape the wrath of restrictive US…

What Will Drive Atlantic Basin Crude Prices In 2019?

What Will Drive Atlantic Basin Crude Prices In 2019?

Dec 19, 2018 at 15:02 | Tsvetana Paraskova

Demand from Asia and fuel oil refining margins will be the key drivers of price strength of the crude grades in the Atlantic Basin next year, just like they have…

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