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News

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Jordan Secures Funding To Build $2.1B Oil Shale Plant

Mar 16, 2017 at 14:13 | Tsvetana Paraskova

Jordan’s Attarat Power Company (APCO) has secured financing from Chinese banks to proceed with its plan to build a $2.1-billion power plant in Jordan that would be fired by oil…

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Nigeria Oil Operators Face Tense Protests Over Unpaid Wages

Mar 16, 2017 at 13:55 | Damir Kaletovic

Hundreds of Nigerian oil contractors held heated talks with Italian oil major Eni over unpaid wages, even though production has been restored following militant attacks in the Niger Delta,…

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Tesla Stock Surges With Billion Dollar Announcement

Mar 16, 2017 at 13:31 | ZeroHedge

In what will hardly come as a surprise, Tesla - which burned half a billion dollars in the fourth quarter - just announced it is raising capital in the form…

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European Parliament Rejects Motion To Totally Ban Arctic Drilling

Mar 16, 2017 at 12:45 | Tsvetana Paraskova

The European Parliament rejected on Thursday a proposal to call upon the European Union to work for a total ban of oil and gas exploration in the Arctic. The…

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Political Rivals Hurl Insults Live Over Power Outages In Australia

Mar 16, 2017 at 10:34 | Irina Slav

Tensions between the federal Australian government and the state of South Australia reached new heights at a press conference today, where the state’s Prime Minister attacked the federal Energy Minister…

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Petrobras Ordered To Restart Asset Sale Program

Mar 16, 2017 at 10:19 | Irina Slav

The federal audit court of Brazil has ordered the company to start its asset sale program from square one, except for two projects. The program was suspended with a…

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Poland Says EU Going Soft On Gazprom Market Abuse

Mar 15, 2017 at 17:53 | Damir Kaletovic

Poland is threatening to use all legal means possible to block the settlement, without fines, of an antitrust investigation targeting Russian Gazprom, which it feels the European Union is going…

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Saudi Aramco To Restart Shipments To Egypt After 6-Month Hiatus

Mar 15, 2017 at 15:00 | Zainab Calcuttawala

Saudi Aramco will restart oil and refined product shipments to Egypt after a sudden halt nearly six months ago, according to an announcement by the Egyptian Petroleum Ministry on…

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Libya’s Eastern Parliament Walks Away From Oil Unity Deal

Mar 15, 2017 at 14:24 | Zainab Calcuttawala

The Benghazi-based government in Libya walked away from a process that would have unified the country’s National Oil Corporation (NOC) on Wednesday after the Benghazi Defense Brigades gained control…

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TransCanada To Construct 6.2 Million Barrel Crude Storage Site In Cushing

Mar 15, 2017 at 13:56 | Zainab Calcuttawala

TransCanada will construct 6.2 million barrels of new crude oil storage capacity in Cushing, Oklahoma, according to an official announcement on Monday. The Calgary-based company has contracted with M2…

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