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Texas Deepwater Oil Export Projects Stall

Texas Deepwater Oil Export Projects Stall

Four projects were planned offshore…

News

Chinese Probe Hits CEFC’s $9-Billion Rosneft Stake Acquisition

Chinese Probe Hits CEFC’s $9-Billion Rosneft Stake Acquisition

Mar 22, 2018 at 18:22 | Tsvetana Paraskova

China’s investigation into CEFC started after the Chinese conglomerate had already paid a first tranche of its US$9-billion acquisition of 14 percent in Russian oil giant Rosneft, suspending the deal…

Study Says West Texas Ground Sinks Under Permian Oil Drilling

Study Says West Texas Ground Sinks Under Permian Oil Drilling

Mar 22, 2018 at 15:41 | Tsvetana Paraskova

Intensive oil and gas drilling in the Permian is causing a large swath of West Texas to sink and uplift, a new study by the Southern Methodist University, Dallas,…

Aramco Says All Saudi Oil Facilities Safe After Report Of Yemen Missile

Aramco Says All Saudi Oil Facilities Safe After Report Of Yemen Missile

Mar 22, 2018 at 14:23 | Tsvetana Paraskova

All oil and gas facilities, plants, and refineries in Saudi Arabia are operating normally, the state oil giant Saudi Aramco said on Thursday, after the Yemeni Houthi movement said…

Finance Minister: Aramco Foreign Listing Not Off The Table

Finance Minister: Aramco Foreign Listing Not Off The Table

Mar 22, 2018 at 13:16 | Irina Slav

Countering recent media reports that Aramco will shelve its international listing and instead focus just on local exchange Tadawul, Saudi Arabia’s Finance Minister Mohammed al-Jadaan told Bloomberg in…

South Sudan: U.S. Oil Sanctions Undermine Peace Efforts

South Sudan: U.S. Oil Sanctions Undermine Peace Efforts

Mar 22, 2018 at 12:57 | Tsvetana Paraskova

U.S. sanctions on oil entities of South Sudan are counterproductive to efforts to bring stability and peace in the country, South Sudan’s Ministry of Petroleum said on Thursday, a…

Trans Mountain Saga May Be Coming To An End

Trans Mountain Saga May Be Coming To An End

Mar 22, 2018 at 12:41 | Irina Slav

Canada’s Federal Court of Appeals is soon due to rule on a lawsuit against Kinder Morgan’s expansion project for the Trans Mountain oil pipeline, possibly ending a saga comparable to…

Global Carbon Emissions Resume Rise

Global Carbon Emissions Resume Rise

Mar 22, 2018 at 09:16 | Irina Slav

After three flat years global carbon emissions, carbon emissions are now on the rise again, hitting the highest ever at 32.5 gigatons. This was a 1.4-percent annual increase, the International…

Largest Gulf of Mexico Lease Sale In History Attracts Lukewarm Interest

Largest Gulf of Mexico Lease Sale In History Attracts Lukewarm Interest

Mar 21, 2018 at 19:33 | Zainab Calcuttawala

The Interior Department’s U.S. Gulf of Mexico Lease Sale 250 attracted $139 million in bids concentrated in deepwater offshore Louisiana and others areas near the Mexican border, according to a…

Federal Judge To Turn Courtroom In Climate Science Classroom

Federal Judge To Turn Courtroom In Climate Science Classroom

Mar 21, 2018 at 18:27 | Zainab Calcuttawala

U.S. District Judge William Alsup is inviting oil and gas companies and climate scientists to present the best available knowledge on climate change in his courtroom, according to a new…

Iran Moves Closer To Achieving Gasoline Independence

Iran Moves Closer To Achieving Gasoline Independence

Mar 21, 2018 at 15:12 | Tsvetana Paraskova

Iran has drastically cut its gasoline imports in recent weeks as it started the second phase of an oil refinery, moving closer to reaching gasoline independence, Reuters reported on…

Kuwait Seeks Foreign Investments To Diversify Away From Oil

Kuwait Seeks Foreign Investments To Diversify Away From Oil

Mar 21, 2018 at 15:02 | Tsvetana Paraskova

OPEC member Kuwait is looking to attract increasing amounts of foreign direct investment as it plans to diversify its oil-dependent economy and regain the status of a business hub in…

Gazprom’s Power Of Siberia Gas Link To China 75.5% Complete

Gazprom’s Power Of Siberia Gas Link To China 75.5% Complete

Mar 21, 2018 at 14:28 | Tsvetana Paraskova

The Power of Siberia natural gas pipeline from Russia to China is 75.5 percent complete, Russia’s gas giant Gazprom said on Wednesday, updating the market on the project that…

BP On Schedule To Drill First Deepwater Mexican Well By 2020

BP On Schedule To Drill First Deepwater Mexican Well By 2020

Mar 21, 2018 at 12:47 | Irina Slav

BP will begin drilling for oil in a Mexican deepwater offshore block in two years, after its drilling plan was approved by Mexico’s oil and gas regulator, the National…

U.S. Bases On Syrian Oilfields Receive New Equipment

U.S. Bases On Syrian Oilfields Receive New Equipment

Mar 21, 2018 at 10:27 | Zainab Calcuttawala

A new U.S. military base has been built at the al-Omar oilfield in southeastern Deir Ezzor in Syria to support combat against the Syrian military, according to a new

BofA In On $6 Billion Financing Deal for Petrobras Subsidiary Bid

BofA In On $6 Billion Financing Deal for Petrobras Subsidiary Bid

Mar 21, 2018 at 09:09 | Zainab Calcuttawala

The Macquarie Group Ltd. is financing a bid on Petrobras assets using financial assistance from Bank of America and Banco Bradesco, according to a new report by Bloomberg. The…

Oil Prices Rise After API Reports Surprise Crude Draw

Oil Prices Rise After API Reports Surprise Crude Draw

Mar 20, 2018 at 15:46 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise draw of 2.739 million barrels of United States crude oil inventories for the week ending March 16, according to the API data.…

Tesla Tumbles With News Of Model 3 Production Woes

Tesla Tumbles With News Of Model 3 Production Woes

Mar 20, 2018 at 14:46 | Safehaven.com

Forgiveness is a precious gift from investors—for as long as it lasts, but with Tesla shares down almost 7 percent over the past week and Goldman Sachs reiterating a…

U.S. Holds Utah Oil Lease Sale Despite Protests

U.S. Holds Utah Oil Lease Sale Despite Protests

Mar 20, 2018 at 14:20 | Tsvetana Paraskova

The U.S. Department of the Interior is auctioning on Tuesday, March 20, a total of 43 parcels in southeast Utah for oil and gas development, despite protests from environmentalists…

Chinese ‘Teapot’ Oil Refiners Prepare For Ethanol Blending

Chinese ‘Teapot’ Oil Refiners Prepare For Ethanol Blending

Mar 20, 2018 at 14:09 | Tsvetana Paraskova

Several Chinese independent oil refiners, commonly known as ‘teapots’, are getting ready to start buying ethanol and blend it with their fuel to meet China’s regulation that says by 2020,…

CEFC Drops European Expansion, CEO Steps Down

CEFC Drops European Expansion, CEO Steps Down

Mar 20, 2018 at 11:15 | Irina Slav

CEFC China Energy Co. has announced that it is abandoning its plans to acquire 50 percent in Czech-Slovak holding J&T Finance Group. This is the latest from an energy company…

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