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The Making of a Russo-African Iron Curtain

The Making of a Russo-African Iron Curtain

As Western nations are withdrawing…

High Oil Prices Force Biden Admin to Halt SPR Refill Plans

High Oil Prices Force Biden Admin to Halt SPR Refill Plans

The Biden administration has canceled…

News

Tesla Stock Could Nosedive As Competitors Multiply

Tesla Stock Could Nosedive As Competitors Multiply

Apr 12, 2018 at 11:29 | Irina Slav

Tesla’s share price, currently at over US$300 apiece, could nosedive to as little at US$84 by the end of next year as a flurry of competitors crowd the EV market,…

Tesla’s Model Y To Launch In November 2019

Tesla’s Model Y To Launch In November 2019

Apr 12, 2018 at 09:49 | Irina Slav

Despite the troubles around the ramp-up of its Model 3 production, Tesla is already eyeing the launch of its next model, the Y, in November next year, two unnamed sources…

Energy Stock Returns Disconnected From Oil Price Rise

Energy Stock Returns Disconnected From Oil Price Rise

Apr 11, 2018 at 17:53 | Tsvetana Paraskova

The lack of consistent comprehensive measurement of breakevens and efficiency gains across upstream oil and gas company portfolios has led to a disconnect between investor returns and the oil price…

Mogul Fridman Sticks To BASF Oil Merger Despite Russia Sanctions

Mogul Fridman Sticks To BASF Oil Merger Despite Russia Sanctions

Apr 11, 2018 at 17:16 | Tsvetana Paraskova

Russian billionaire Mikhail Fridman continues to pursue the plans to merge the oil assets of his investment vehicle LetterOne with Wintershall Group, the oil and gas business of Germany’s…

Sinopec To Slash Crude Imports From Saudi Arabia By 40%

Sinopec To Slash Crude Imports From Saudi Arabia By 40%

Apr 11, 2018 at 16:36 | Tsvetana Paraskova

China’s Sinopec, the largest oil refiner in Asia, will shut down its biggest refinery for a major overhaul starting May 1. This will coincide with a period in which Sinopec…

U.S. Oil Producers Ready To Self-Finance

U.S. Oil Producers Ready To Self-Finance

Apr 11, 2018 at 15:15 | Irina Slav

A fifth of U.S. crude oil producers are planning to use their cash flow from operations to fund new production expansion, a survey from Haynes & Boone has found.…

Aramco Inks $44 Billion Downstream Deal In India

Aramco Inks $44 Billion Downstream Deal In India

Apr 11, 2018 at 12:33 | Julianne Geiger

Saudi Aramco and India’s Ratnagiri Refinery & Petrochemicals signed a deal on Wednesday to construct a $44 billion refinery and petrochem project in India. The refinery portion, to be located…

OPEC: Oil Data Needs Further Improvement

OPEC: Oil Data Needs Further Improvement

Apr 11, 2018 at 10:11 | Irina Slav

Two years ago, forecasts about the world’s crude oil demand from the International Energy Agency, the Energy Information Administration, and OPEC diverged by 2 million bpd. Later, the gap narrowed…

Alberta Ready To Buy Trans Mountain Pipeline

Alberta Ready To Buy Trans Mountain Pipeline

Apr 11, 2018 at 09:24 | Irina Slav

Alberta Premier Rachel Notley upped the ante on the Trans Mountain oil pipeline by saying the provincial government was prepared to go all the way and buy the whole…

Oil Prices Slip After API Reports Surprise Crude Inventory Build

Oil Prices Slip After API Reports Surprise Crude Inventory Build

Apr 10, 2018 at 15:44 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise build of 1.758 million barrels of United States crude oil inventories for the week ending April 6, after analysts had anticipated a…

Shell: Crude Oil Theft In Nigeria Rose 50% In 2017

Shell: Crude Oil Theft In Nigeria Rose 50% In 2017

Apr 10, 2018 at 15:09 | Tsvetana Paraskova

Despite the fact that Nigeria as a whole managed to increase and stabilize its crude oil production last year, crude oil theft on Shell’s pipeline network resulted in a 50-percent…

IEA: Five-Year Average Oil Market Balance Within Sight

IEA: Five-Year Average Oil Market Balance Within Sight

Apr 10, 2018 at 14:15 | Tsvetana Paraskova

The oil market balance as OPEC and allies set in their production cut deal—bringing inventories down to their five-year average—could be reached in two or three months or so, Neil…

Abu Dhabi Launches First-Ever Competitive Oil & Gas Bid Round

Abu Dhabi Launches First-Ever Competitive Oil & Gas Bid Round

Apr 10, 2018 at 13:04 | Tsvetana Paraskova

The Abu Dhabi National Oil Company (ADNOC) is offering six oil and gas blocks for bidding in a first-ever competitive exploration and production bid round as part of its…

Venezuelan Constituent Assembly Approves Oil-Backed Cryptocurrency

Venezuelan Constituent Assembly Approves Oil-Backed Cryptocurrency

Apr 10, 2018 at 11:31 | Irina Slav

Venezuela’s National Constituent Assembly has finally given the go-ahead to the country’s oil-backed cryptocurrency, El Petro, after the parliament declared it unconstitutional. According to a statement by Vice President…

Total, Aramco To Build $9B Petrochemical Complex

Total, Aramco To Build $9B Petrochemical Complex

Apr 10, 2018 at 11:13 | Tsvetana Paraskova

France’s oil major Total and Saudi Aramco signed on Tuesday a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia, which will see total investments…

CNPC Boss Optimistic About US-China Relations

CNPC Boss Optimistic About US-China Relations

Apr 10, 2018 at 10:39 | Irina Slav

Energy relations between the United States and China will deepen in the future, the chairman of state energy giant CNPC, Wang Yilin said in an interview with Bloomberg this week…

Ottawa In Emergency Meeting Over Trans Mountain Pipeline

Ottawa In Emergency Meeting Over Trans Mountain Pipeline

Apr 10, 2018 at 09:04 | Irina Slav

Canada’s federal cabinet is to hold an emergency meeting today after yesterday Kinder Morgan’s Chairman Steven Kean warned that the company will suspend work on the Trans Mountain…

Australian LNG Revenue To Increase On Higher Exports, Higher Prices

Australian LNG Revenue To Increase On Higher Exports, Higher Prices

Apr 09, 2018 at 16:20 | Julianne Geiger

Australia is expecting an increase in the value of LNG exports from $23 billion to $39 billion, Australia’s Department of Industry, Innovation and Science said on Monday in its publication,…

Tesla Stock Falls After Vehicle Recall

Tesla Stock Falls After Vehicle Recall

Apr 09, 2018 at 15:41 | Julianne Geiger

Tesla’s stock fell on Monday after a new recall by China’s quality watchdog was issued on Monday for Tesla vehicles in China. Today’s recall announcement is in addition to…

Iraqi Court To Hear Oil Export Argument With Kurds In May

Iraqi Court To Hear Oil Export Argument With Kurds In May

Apr 09, 2018 at 15:32 | Damir Kaletovic

Normalizing relations between the Iraqi central government and Iraqi Kurdistan will take a new twist beginning in May when Iraq’s top court starts hearings on the issue with officials…

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