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Oil Prices Gain 2% on Tightening Supply

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How Do Predictions Stack Up 30 Years After The First Global Warming Warning?

How Do Predictions Stack Up 30 Years After The First Global Warming Warning?

Jun 22, 2018 at 12:59 | Tsvetana Paraskova

This week marks the 30th anniversary of the first public warning that global warming had started, and climate scientists are assessing where the predictions of the NASA scientist who sounded…

U.S. Asks Japan To Stop Importing Iranian Crude

U.S. Asks Japan To Stop Importing Iranian Crude

Jun 22, 2018 at 09:23 | Irina Slav

The U.S. has asked Japan to completely stop importing Iranian crude, unnamed sources close to bilateral talks from earlier this week told Bloomberg. Japan has not yet decided how…

Venezuela: U.S. Sanctions Are “An Attack On The Oil Market”

Venezuela: U.S. Sanctions Are “An Attack On The Oil Market”

Jun 21, 2018 at 16:30 | Tsvetana Paraskova

The U.S. sanctions against Venezuela are affecting consumers worldwide and are an attack on the oil market, Venezuelan Oil Minister Manuel Quevedo said on Thursday. The minister, speaking at…

Turkey Plans World’s Biggest Offshore Wind Farm

Turkey Plans World’s Biggest Offshore Wind Farm

Jun 21, 2018 at 16:22 | Tsvetana Paraskova

Turkey said on Thursday that it would be accepting applications for the construction and operation of a 1,200-MW offshore wind farm—the world’s biggest—by October 23. The Renewable Energy General…

Third Oil Storage Tank Set Ablaze Amid Clashes At Libyan Port

Third Oil Storage Tank Set Ablaze Amid Clashes At Libyan Port

Jun 21, 2018 at 16:21 | Tsvetana Paraskova

Clashes at Libya’s oil port of Ras Lanuf resulted in a third storage tank set on fire, a witness and an oil engineer told Reuters on Thursday. Over the…

Oil Executive: Industry Needs ‘Another Iraq Or North Sea’ To Meet Demand Growth

Oil Executive: Industry Needs ‘Another Iraq Or North Sea’ To Meet Demand Growth

Jun 21, 2018 at 16:12 | Tsvetana Paraskova

The global oil industry needs to find “another Iraq or North Sea every year” to plug the shortfall of oil supply as demand continues to grow, Majid Jafar, the chief…

China Set To Cut U.S. Oil Imports As Trade War Heats Up

China Set To Cut U.S. Oil Imports As Trade War Heats Up

Jun 21, 2018 at 12:29 | Tsvetana Paraskova

Chinese oil customers plan to reduce their intake of U.S. crude oil from September onwards to avoid a possible import tariff on American oil in China, due to the uncertain…

Saudi Aramco Clears Another IPO Hurdle

Saudi Aramco Clears Another IPO Hurdle

Jun 21, 2018 at 12:06 | Irina Slav

Saudi Arabia has cleared another hurdle on its way to successfully launching Aramco’s initial public offering after MSCI granted it emerging market status in its latest review, Morningstar reports.…

Saudis Hint Aramco IPO Could Slip Beyond 2019

Saudis Hint Aramco IPO Could Slip Beyond 2019

Jun 21, 2018 at 12:01 | Tsvetana Paraskova

The initial public offering of Saudi oil giant Aramco—which has already been likely pushed to 2019 from the second half of 2018—could be postponed even further, for after 2019, comments…

UN Official Calls On OPEC To Join Energy Transition

UN Official Calls On OPEC To Join Energy Transition

Jun 21, 2018 at 10:31 | Irina Slav

OPEC should join climate change fight efforts and prepare for the global energy transition away from oil, the executive secretary of the UN’s Framework Convention on Climate Change said in…

Libya Desperate To Get Stranded Oil To Market

Libya Desperate To Get Stranded Oil To Market

Jun 21, 2018 at 09:50 | Irina Slav

Libya is looking for ways to get hundreds of thousands of barrels of crude oil to international markets after fighting shut down its two biggest export terminals, Es Sider and…

Musk: Germany Favorite To Host European Tesla Gigafactory

Musk: Germany Favorite To Host European Tesla Gigafactory

Jun 20, 2018 at 17:51 | Tsvetana Paraskova

Germany is a leading choice for a possible future Tesla Gigafactory in Europe, Elon Musk said on Tuesday. “Germany is a leading choice for Europe. Perhaps on the German-French border…

Pioneer Sees Oil At $100 Should OPEC Fail To Increase Production

Pioneer Sees Oil At $100 Should OPEC Fail To Increase Production

Jun 20, 2018 at 17:32 | Tsvetana Paraskova

Pioneer Natural Resources chairman Scott Sheffield—who is in Vienna for an international OPEC conference—warned that oil prices could jump to $100 a barrel if the cartel and friends don’t boost…

Niger Delta Militants Threaten Nigerian Oil Facilities

Niger Delta Militants Threaten Nigerian Oil Facilities

Jun 20, 2018 at 16:35 | Tsvetana Paraskova

A relatively unknown group in the Niger Delta is threatening to stop production at oil facilities of the Nigerian Agip Oil Company (NAOC) in the area, saying that a…

Saudi Arabia Intercepts Houthi Missile Targeting Aramco Facility

Saudi Arabia Intercepts Houthi Missile Targeting Aramco Facility

Jun 20, 2018 at 15:54 | Tsvetana Paraskova

Saudi Arabia has intercepted a ballistic missile that the Iran-aligned Houthi rebels claimed to have fired at an Aramco facility, Saudi state television reports. Houthi-run media outlet Almasirah

Mexico Announces Bid Terms For Next Oil Tender

Mexico Announces Bid Terms For Next Oil Tender

Jun 20, 2018 at 15:27 | Irina Slav

Mexico’s National Hydrocarbons Commission has announced the bid terms for the September 27 oil and gas tender, which will offer 37 onshore blocks, Reuters reports. The terms include a…

U.S.-Led Coalition Kills ISIS Chief Of Oil Smuggling

U.S.-Led Coalition Kills ISIS Chief Of Oil Smuggling

Jun 20, 2018 at 15:06 | Tsvetana Paraskova

The U.S-led coalition fighting Islamic State has killed the leader of the militants responsible for its oil and gas smuggling operations, Combined Joint Task Force Operation Inherent Resolve officials

Iran Rejects Possibility of Oil Production Increase

Iran Rejects Possibility of Oil Production Increase

Jun 20, 2018 at 11:57 | Irina Slav

Iran does not believe any increase in OPEC crude oil production is necessary, not even a moderate one of half a million barrels. That’s what the country’s Oil Minister Bijan…

Memo Reveals Extent Of Activist Billionaire’ Anti-Exxon Involvement

Memo Reveals Extent Of Activist Billionaire’ Anti-Exxon Involvement

Jun 20, 2018 at 09:33 | Irina Slav

A leaked memo obtained by the Daily Caller has suggested billionaire activist Tom Steyer was more deeply involved in the anti-Exxon campaign that was launched by New York’s Attorney…

Oil Prices Steady After API Reports Crude Draw, Gasoline Build

Oil Prices Steady After API Reports Crude Draw, Gasoline Build

Jun 19, 2018 at 15:49 | Julianne Geiger

As oil prices continue to fall, the American Petroleum Institute (API) reported a draw of 3.016 million barrels in crude oil inventories for the week ending June 15, compared to…

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