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News

China’s CNPC Halts Iran Gas Investment Under U.S. Pressure

China’s CNPC Halts Iran Gas Investment Under U.S. Pressure

Dec 12, 2018 at 13:01 | Tsvetana Paraskova

State-controlled China National Petroleum Corporation (CNPC) has suspended investment in the giant South Pars gas field in Iran, following pressure from the United States and in an attempt to steer…

Total To Boost Exploration In Mauritania

Total To Boost Exploration In Mauritania

Dec 12, 2018 at 12:39 | Tsvetana Paraskova

France’s supermajor Total said on Wednesday that it had signed an agreement with Mauritania for two new exploration and production contracts in the country’s deep offshore, amid growing interest…

Michigan Greenlights Oil Pipeline Project

Michigan Greenlights Oil Pipeline Project

Dec 12, 2018 at 09:32 | Irina Slav

The Michigan Legislature approved the Great Lakes pipeline project that envisages the replacement of a section of Enbridge’s Line 5 pipeline, which is 65 years old, and agreed to set…

Virus That Haunted Aramco In 2012 Is Back

Virus That Haunted Aramco In 2012 Is Back

Dec 12, 2018 at 09:11 | Irina Slav

A variant of the Shamoon malware that hit Saudi Aramco’s servers six years ago is back, Axios reports, citing a release from the cybersecurity unit of Alphabet, Chronicle. According…

Crystallex Threatens Venezuela’s Crown Jewel Citgo Again

Crystallex Threatens Venezuela’s Crown Jewel Citgo Again

Dec 12, 2018 at 08:04 | Irina Slav

Canadian miner Crystallex has accused Venezuela of breaching a US$1.4-billion settlement agreement as PDVSA continued to try and overturn a court order that allowed Crystallex to take control of the…

Nigeria Continues To Depend Heavily On Oil Export Revenue

Nigeria Continues To Depend Heavily On Oil Export Revenue

Dec 12, 2018 at 07:48 | Tsvetana Paraskova

Despite assurances that Nigeria is working to diversify its economy away from oil, the African OPEC member continues to depend heavily on oil exports, and consequently, on oil prices, for…

Oil Prices Head Higher After API Reports Huge Crude Draw

Oil Prices Head Higher After API Reports Huge Crude Draw

Dec 11, 2018 at 15:45 | Julianne Geiger

The American Petroleum Institute (API) reported a huge crude oil inventory draw 10.18 million barrels for the week ending December 7, compared to analyst expectations that we would see a…

Trump Administration Talks Fossil Fuels At Polish Climate Summit

Trump Administration Talks Fossil Fuels At Polish Climate Summit

Dec 11, 2018 at 14:57 | Julianne Geiger

As countries meet in Poland from all over the world this week to discuss measures to mitigate the effects of climate change, US delegates showed up ready to…

India Hopes To Attract $300B Energy Investments In A Decade

India Hopes To Attract $300B Energy Investments In A Decade

Dec 11, 2018 at 13:57 | Tsvetana Paraskova

India hopes to attract around US$300 billion in investments in its energy sector in the coming decade, including in refineries, natural gas infrastructure and trade, and liquefied natural gas (LNG)…

Russia Will Cut Oil Production By 60,000 Bpd In January

Russia Will Cut Oil Production By 60,000 Bpd In January

Dec 11, 2018 at 13:38 | Tsvetana Paraskova

Russia is planning to reduce its oil production by 50,000 bpd to 60,000 bpd in January as part of the new OPEC+ deal, and will not be cutting its 228,000-bpd…

$44B Aramco/ADNOC Indian Mega Refinery Delayed  

$44B Aramco/ADNOC Indian Mega Refinery Delayed  

Dec 11, 2018 at 13:10 | Tsvetana Paraskova

The commissioning of a mega refinery and petrochemical complex worth US$44 billion and involving Saudi Aramco and ADNOC has been pushed out by two years to 2025, a top executive…

Syrian Civilians Seize Oil Wells From Rebel Group

Syrian Civilians Seize Oil Wells From Rebel Group

Dec 11, 2018 at 09:24 | Irina Slav

A large group of Syrian civilians took control over several oil wells in eastern Syria after clashes with rebel group Syrian Democratic Forces, Iranian Fars News reported today, citing…

Tesla Opens 11 New Stores In U.S.

Tesla Opens 11 New Stores In U.S.

Dec 11, 2018 at 09:01 | Irina Slav

Tesla will open 11 new stores across the United States, the company said in a tweet. Four of these will be in California, two in Texas, two in Florida,…

China’s Crude Oil Imports Jump To New Record High In November 

China’s Crude Oil Imports Jump To New Record High In November 

Dec 10, 2018 at 17:14 | Tsvetana Paraskova

China’s crude oil imports averaged more than 10 million bpd for the first time ever in November, as they beat the previous record for highest crude imports set in October,…

U.S. Energy Secretary Perry To Saudis: We Want Stable Supply And Prices

U.S. Energy Secretary Perry To Saudis: We Want Stable Supply And Prices

Dec 10, 2018 at 16:42 | Tsvetana Paraskova

U.S. Secretary of Energy Rick Perry reiterated the “need for stable supply and market values” during talks with Saudi Energy Minister Khalid Al-Falih in Saudi Arabia, the U.S. Department of…

Libya Faces Oil Disaster As Biggest Field Stops Pumping

Libya Faces Oil Disaster As Biggest Field Stops Pumping

Dec 10, 2018 at 15:37 | Irina Slav

Libya is facing a major oil crisis as a group comprising local tribesmen and members of the field’s security guard seized the largest field in the country, Sharara. Reuters

Maduro Wins Local Elections Amid Voter Apathy In Raging Crisis

Maduro Wins Local Elections Amid Voter Apathy In Raging Crisis

Dec 10, 2018 at 12:39 | Tsvetana Paraskova

The ruling United Socialist Party of leader Nicolas Maduro won overwhelmingly Sunday’s local elections in Venezuela amid a very low turnout as most of the opposition was banned from…

Houthis Accuse Saudi Coalition Of Blocking Oil Ships From Yemen’s Ports

Houthis Accuse Saudi Coalition Of Blocking Oil Ships From Yemen’s Ports

Dec 10, 2018 at 10:49 | Tsvetana Paraskova

A rally was held outside the office of the United Nations in Yemen’s capital Sanaa on Monday to protest against measures of the Saudi-led coalition to hold and prevent ships…

Tender For Mexico’s Tabasco Refinery To Start In March

Tender For Mexico’s Tabasco Refinery To Start In March

Dec 10, 2018 at 08:55 | Irina Slav

Mexico will start accepting bids for the construction of a new refinery, estimated to be worth US$8 billion by March next year, President Andres Manuel Lopez Obrador said, as

Russia’s Oil Production Cuts To Take Months To Implement

Russia’s Oil Production Cuts To Take Months To Implement

Dec 07, 2018 at 16:27 | Julianne Geiger

After Russia agreed on Friday to cut its oil production as part of the non-OPEC group tasked with cutting 400,000 bpd of oil production, Energy Minister Alexander Novak said it…

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