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News

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Pemex To Restart Mexico’s Biggest Refinery After Major Fire

Jun 15, 2017 at 13:52 | Tsvetana Paraskova

Mexican state oil firm Pemex expects to restart on Thursday its Salina Cruz refinery, Mexico’s biggest, once a massive fire that killed one person and injured 9 others is fully…

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Iraq Could Boost Oil Output To 5 Million Bpd This Year

Jun 15, 2017 at 11:31 | Tsvetana Paraskova

If you thought Iraq’s plans to increase its oil production to 5 million bpd were rather pie-in-the-skyish, think again. Iraq’s plans to increase its oil production capacity to 5 million…

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Traders Ditch Gasoline Futures, Prices Drop

Jun 15, 2017 at 10:38 | Irina Slav

After the Energy Information Administration reported a surprising 2.1-million-barrel build in gasoline inventories for the week to June 9, traders rushed to offload their bets on gasoline futures, causing a…

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DAPL Shutdown To Be Considered After New Assessment: Federal Judge

Jun 15, 2017 at 09:57 | Irina Slav

The controversy surrounding the Dakota Access oil pipeline is not over, after a federal judge yesterday ordered the U.S. Army Corps of Engineers to redo its environmental assessment of the…

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Crown Prince And Aramco Execs In Deadlock Over IPO Listing

Jun 14, 2017 at 17:04 | Zainab Calcuttawala

The team in Riyadh planning Saudi Aramco’s 2018 initial public offering are torn between offering the listing to London or New York, according to anonymous sources that spoke to the…

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TransCanada Invests $1.5 Billion In Gas Pipeline Expansion

Jun 14, 2017 at 16:57 | Zainab Calcuttawala

A US$1.5 billion investment by TransCanada Corp will expand an existing natural gas gathering pipeline in western Canada, according to nation’s second-largest pipeline operator. The project will allow greater…

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Saudi Aramco Enters Talks To Buy Share In New Indian Refinery

Jun 14, 2017 at 15:49 | Zainab Calcuttawala

Saudi Aramco has begun talking up India to purchase a stake in the Asian giant’s upcoming west coast refinery, according to an announcement made by Oil Minister Dharmendra Pradhan. The…

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Nigeria’s Crude Loadings Up In July After Forcados Restart

Jun 14, 2017 at 15:44 | Tsvetana Paraskova

Nigeria’s crude oil exports are expected at 1.836 million bpd in July, compared to 1.835 million bpd in June, after exports of the Forcados grade resumed in late May, according…

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Libya’s NOC, Wintershall Agree To Resume 160,000 Bpd Output

Jun 14, 2017 at 15:01 | Tsvetana Paraskova

Libya’s National Oil Corporation (NOC) said on Tuesday that it had reached an interim deal with Germany’s Wintershall to immediately resume production in concession areas and related fields, which…

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China’s Crude Oil Output Lowest Since 2011

Jun 14, 2017 at 13:23 | Tsvetana Paraskova

According to the statistics figures, as reported by Reuters, China’s crude output level was 3.83 million bpd in May, down by 3.7 percent year on year, to the lowest…

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