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News

BP Funds Fast-Charging Battery Maker

BP Funds Fast-Charging Battery Maker

May 22, 2018 at 12:34 | Irina Slav

BP Ventures has provided US$20 million in funding to an Israeli startup that makes ultrafast-charging batteries, which aims to make it possible for electric cars to charge in just five…

BP Suspends Work On Gas Field Shared With Iran

BP Suspends Work On Gas Field Shared With Iran

May 22, 2018 at 10:33 | Irina Slav

BP has stopped work on the Rhum gas field in the North Sea, which it has a 50-percent stake in, sharing it with the National Iranian Oil Company. The…

Kenya Removes Roadblock For Oil Industry Development

Kenya Removes Roadblock For Oil Industry Development

May 22, 2018 at 09:43 | Irina Slav

The Kenyan government and local lawmakers from the oil-rich Turkana region reached an agreement on the distribution of oil revenues that was preventing the country from beginning the development of…

China CEFC Unit Defaults After Failed Rosneft Stake Acquisition

China CEFC Unit Defaults After Failed Rosneft Stake Acquisition

May 21, 2018 at 17:17 | Tsvetana Paraskova

CEFC Shanghai International Group—a subsidiary of China CEFC Energy whose deal to buy 14 percent in Rosneft for US$9 billion collapsed earlier this month—said on Monday that it had

China To Drive Electric Vehicles Sales Surge

China To Drive Electric Vehicles Sales Surge

May 21, 2018 at 17:02 | Tsvetana Paraskova

More than half of new car sales in the world will be electric vehicles (EVs) in 2040, with one-third of the global car fleet then consisting of electric cars, according…

Glencore Could Beat Sinopec To $1B Chevron South African Deal

Glencore Could Beat Sinopec To $1B Chevron South African Deal

May 21, 2018 at 15:48 | Tsvetana Paraskova

Switzerland-based miner and commodity trader Glencore is nearing a US$1-billion deal to buy the South African assets of Chevron, possibly upsetting an earlier agreement between the U.S. supermajor and China’s…

Key Oil Industry Figures To Discuss OPEC Policy, Sanctions This Week

Key Oil Industry Figures To Discuss OPEC Policy, Sanctions This Week

May 21, 2018 at 14:17 | Tsvetana Paraskova

Key oil ministers and company executives will gather in Russia later this week for the St. Petersburg International Economic Forum, and expectations are that the business meeting will provide the…

Russia May Explore Crimea Gas Resources

Russia May Explore Crimea Gas Resources

May 21, 2018 at 13:16 | Irina Slav

Russia should explore the Crimean continental shelf for natural gas, the head of the Russian Academy of Sciences told RIA Novosti during a three-day visit on the peninsula. “The…

PetroChina Lifts Gas Supplies In April

PetroChina Lifts Gas Supplies In April

May 21, 2018 at 11:31 | Irina Slav

PetroChina supplied 14 percent more natural gas to its customers last month, parent CNPC said, in response to growing demand. Over the first four months of the year, PetroChina…

Tesla Shares Up As Musk Unveils Tesla’s Dual-Motor All-Wheel Model 3

Tesla Shares Up As Musk Unveils Tesla’s Dual-Motor All-Wheel Model 3

May 21, 2018 at 09:53 | Tsvetana Paraskova

Tesla (NASDAQ:TSLA) shares were pointing to a positive opening on Monday after Elon Musk tweeted over the weekend that a dual motor, all-wheel drive performance Model 3 will…

Investors With $10.4 Trillion Assets Urge Big Oil To Tackle Climate Change

Investors With $10.4 Trillion Assets Urge Big Oil To Tackle Climate Change

May 18, 2018 at 16:18 | Tsvetana Paraskova

Large global investors—representing a combined US$10.4 trillion worth of assets under management—urged oil and gas companies on Friday to start acting responsibly in tackling climate change, putting pressure on Big…

B.C. Businesses, First Nations Side With Alberta On Trans Mountain

B.C. Businesses, First Nations Side With Alberta On Trans Mountain

May 18, 2018 at 16:18 | Irina Slav

A delegation including almost a hundred businesses from British Columbia as well as labor union and Aboriginal community leaders are visiting Edmonton to demonstrate their support for the expansion…

Kenya Says It’s Ready For 70,000 Barrels Of Pilot Oil Exports

Kenya Says It’s Ready For 70,000 Barrels Of Pilot Oil Exports

May 18, 2018 at 16:18 | Tsvetana Paraskova

Kenya has stored 70,000 barrels of oil in the north of the country, waiting to be trucked to the Mombasa port for pilot exports, but revenue sharing talks are still…

Shell Declares Force Majeure On Bonny Light Shipments

Shell Declares Force Majeure On Bonny Light Shipments

May 18, 2018 at 11:26 | Irina Slav

The Nigerian subsidiary of Shell has declared force majeure on Bonny Light exports because of the shutdown of the Nembe Creek pipeline, which has led to the accumulation…

Ghana Looks To Award Nine Offshore Oil Exploration Blocks

Ghana Looks To Award Nine Offshore Oil Exploration Blocks

May 18, 2018 at 08:58 | Tsvetana Paraskova

West African country Ghana, a relative newcomer to the oil industry, plans to award as many as nine offshore blocks off its west coast in 2018 and 2019, Ghana’s…

Saudi Arabia, UAE Assuage Oil Supply Fears

Saudi Arabia, UAE Assuage Oil Supply Fears

May 17, 2018 at 17:27 | Julianne Geiger

Oil ministers from both the United Arab Emirates and Saudi Arabia reaffirmed on Thursday their commitment to ensure the steady supply of oil, even though the recent oil price hikes…

UK Looks To Fast-Track Shale Gas Drilling Approval

UK Looks To Fast-Track Shale Gas Drilling Approval

May 17, 2018 at 17:20 | Tsvetana Paraskova

The UK government announced on Thursday plans to facilitate timely decisions on shale gas exploration planning applications in England as part of a plan to reduce dependence on gas…

World’s Biggest Oil Traders Vie To Buy Petrobras Nigerian Assets

World’s Biggest Oil Traders Vie To Buy Petrobras Nigerian Assets

May 17, 2018 at 17:09 | Tsvetana Paraskova

Vitol, Glencore, and Shell—the three biggest oil traders in the world—are in the running to buy the Nigerian oil assets of Brazil’s state oil firm Petrobras, Reuters reported on…

Gazprom’s Gas Pipeline To China 83% Completed

Gazprom’s Gas Pipeline To China 83% Completed

May 17, 2018 at 15:56 | Tsvetana Paraskova

Gazprom is advancing with the construction of its Power of Siberia pipeline to China, which is now 83 percent complete, as the Russian gas giant looks to supply more…

Goldman: Tesla May Fall Short Of Targets Without More Funding

Goldman: Tesla May Fall Short Of Targets Without More Funding

May 17, 2018 at 14:10 | Tsvetana Paraskova

Elon Musk says that Tesla won’t need to raise money this year, but by 2020 the company may need to raise more than US$10 billion to fund its ambitious…

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