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News

Environmental Group Vows To Sue Shell Over Climate Change

Environmental Group Vows To Sue Shell Over Climate Change

Apr 04, 2018 at 16:22 | Tsvetana Paraskova

In the latest legal campaign against Big Oil, Friends of the Earth Netherlands vowed on Wednesday to take Shell to court if it doesn’t act on demands to align its…

Big Oil Shuns Unexplored Acreage In Largest U.S Oil & Gas Lease Sale

Big Oil Shuns Unexplored Acreage In Largest U.S Oil & Gas Lease Sale

Apr 04, 2018 at 15:38 | Tsvetana Paraskova

The world’s biggest oil companies preferred to bid on areas close to existing infrastructure and largely stayed out of unexplored acreage in last month’s lease sale in the Gulf of…

Russian Gas Transit Via Ukraine Set For Major Slump

Russian Gas Transit Via Ukraine Set For Major Slump

Apr 04, 2018 at 13:13 | Irina Slav

Transit of Russian natural gas via Ukraine will be reduced to just about 10-12 billion cubic meters annually after the completion of two new pipelines—Turkish Stream and Nord Stream 2.…

Oil Prices Dip On Escalating U.S.-China Trade War

Oil Prices Dip On Escalating U.S.-China Trade War

Apr 04, 2018 at 10:21 | Tsvetana Paraskova

Despite a surprise crude oil inventory draw that the American Petroleum Institute (API) reported on Tuesday, oil prices fell by 2 percent early on Wednesday as the trade war…

Four Pipeline Operators Report Cyberattack

Four Pipeline Operators Report Cyberattack

Apr 04, 2018 at 09:07 | Irina Slav

Four gas pipeline operators in the U.S. have had to shut down their communications systems after breakdowns caused by cyberattacks, fueling fear of more hostile cyberactivity to come. Energy Transfer…

Oil Prices Inch Higher After API Reports Surprise Crude Draw

Oil Prices Inch Higher After API Reports Surprise Crude Draw

Apr 03, 2018 at 15:53 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise draw of 3.28 million barrels of United States crude oil inventories for the week ending March 30, after analysts had anticipated a…

Deloitte: WCS-WTI Oil Price Gap Could Ease In 2018

Deloitte: WCS-WTI Oil Price Gap Could Ease In 2018

Apr 03, 2018 at 15:39 | Tsvetana Paraskova

The wide discounts to which Canadian oil benchmarks are priced to WTI could diminish later this year as increased refinery capacity on both sides of the border would give more…

Santos Agrees To Discuss $10.4B Takeover Bid From U.S. Harbour Energy

Santos Agrees To Discuss $10.4B Takeover Bid From U.S. Harbour Energy

Apr 03, 2018 at 12:38 | Tsvetana Paraskova

Australia’s oil and gas producer Santos said on Tuesday that it would engage in talks with U.S. Harbour Energy Ltd, after receiving the fourth unsolicited takeover bid from the…

Alaska Governor Scraps Arctic Oil Study

Alaska Governor Scraps Arctic Oil Study

Apr 03, 2018 at 11:24 | Irina Slav

Alaska’s Governor Bill Walker has proposed to use US$10 million previously earmarked for a seismic study of the Arctic National Wildlife Refuge to update the state’s archaic 911 system.…

Oil Search Resumes Production At Papua LNG Project

Oil Search Resumes Production At Papua LNG Project

Apr 03, 2018 at 08:42 | Irina Slav

Australian Oil Search—partner of Exxon in the PNG LNG project—said it had resumed oil production at the Kutubu field after a prolonged shutdown. By the end of the month production…

Iraq Unveils Plan To Diversify Away From Oil

Iraq Unveils Plan To Diversify Away From Oil

Apr 02, 2018 at 17:37 | Julianne Geiger

Iraqi Prime Minister Haider Al Abadi on Sunday unveiled an ambitious plan to end its dependence on oil through building up its private sector over the course of just five…

China Imposes Tariffs On U.S.-Made Pipeline Materials

China Imposes Tariffs On U.S.-Made Pipeline Materials

Apr 02, 2018 at 17:18 | Tsvetana Paraskova

China is imposing tariffs on 128 U.S. products, including steel and alloy pipe for oil and gas, effective on Monday, in a retaliatory move after the U.S. imposed tariffs on…

China’s Sinopec To Significantly Boost Natural Gas Capacity Supply

China’s Sinopec To Significantly Boost Natural Gas Capacity Supply

Apr 02, 2018 at 17:06 | Tsvetana Paraskova

In an effort to increase the share of natural gas in its energy supply, China’s state energy company Sinopec plans to nearly triple receiving capacity for liquefied natural gas…

Latin America Plans Record Number Of Oil Auctions In 2018

Latin America Plans Record Number Of Oil Auctions In 2018

Apr 02, 2018 at 16:52 | Tsvetana Paraskova

Many Latin American countries have changed regulations to welcome foreign capital to their oil sectors, and now those countries combined are set to hold this year the highest number…

Alibaba, Ford Unveil China’s First Car Vending Machine

Alibaba, Ford Unveil China’s First Car Vending Machine

Apr 02, 2018 at 13:36 | ZeroHedge

China's Alibaba wasn't the first company to create a car vending machine - that honor belongs to a Singaporean entrepreneur who transformed Singapore's Autobahn building into what appears to be…

U.S. Watchdog Rebukes Tesla For Disclosing Details Of Fatal Crash

U.S. Watchdog Rebukes Tesla For Disclosing Details Of Fatal Crash

Apr 02, 2018 at 12:45 | Tsvetana Paraskova

The National Transportation Safety Board (NTSB) is unhappy that Tesla has disclosed details of a deadly crash involving a Tesla Model X that the safety regulator has started to investigate.…

India’s Top Refiner Sets Aside $22B For Expansion

India’s Top Refiner Sets Aside $22B For Expansion

Apr 02, 2018 at 10:51 | Irina Slav

Indian Oil Corp, the country’s biggest refiner, will spend $22 billion on its expansion over the next five years, eyeing a capacity boost to 3.2 million barrels daily by…

FirstEnergy Coal, Nuclear Business Files For Bankruptcy

FirstEnergy Coal, Nuclear Business Files For Bankruptcy

Apr 02, 2018 at 08:54 | Irina Slav

Days after FirstEnergy approached the Department of Energy with a request for what would have effectively been a bailout package, the company announced that its coal subsidiary FirstEnergy Solutions…

Payback Time: Oilfield Services Raise Prices

Payback Time: Oilfield Services Raise Prices

Mar 30, 2018 at 16:14 | Irina Slav

Oilfield service providers are upping their prices, the latest Dallas Fed Energy Survey has found, confirming what producers began to complain about last year when oil prices started recovering.…

Exxon Snaps Up 8 Brazil Offshore Blocks

Exxon Snaps Up 8 Brazil Offshore Blocks

Mar 30, 2018 at 16:01 | Tsvetana Paraskova

ExxonMobil snapped up eight offshore exploration blocks in the latest Brazilian bid round on Thursday, leading Big Oil’s aggressive move on acreage next to the coveted pre-salt layer that…

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