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News

EU Can’t Extend Gas Market Regulation To Nord Stream 2

EU Can’t Extend Gas Market Regulation To Nord Stream 2

Mar 05, 2018 at 15:01 | Tsvetana Paraskova

A legal opinion by the Council of the European Union has rejected a proposal by the European Commission to extend EU-wide gas rules to offshore pipelines, dealing a blow to…

Rosneft Could Be The Key To Iraq-Kurdistan Oil Deal

Rosneft Could Be The Key To Iraq-Kurdistan Oil Deal

Mar 05, 2018 at 14:49 | Tsvetana Paraskova

Russian oil giant Rosneft could be the key in the talks between the Iraqi government and Kurdistan for the full resumption of oil exports from the semi-autonomous region, Reuters

U.S. Navy Boosts Mediterranean Presence As Exxon Set To Explore Offshore Cyprus

U.S. Navy Boosts Mediterranean Presence As Exxon Set To Explore Offshore Cyprus

Mar 05, 2018 at 13:29 | Tsvetana Paraskova

The U.S. Navy has increased its Mediterranean fleet, just a couple of weeks before Exxon is due to send two surveying vessels to explore offshore Cyprus near the area where…

Rystad Energy: Mature Fields Grew By 151 Billion Barrels In Four Years

Rystad Energy: Mature Fields Grew By 151 Billion Barrels In Four Years

Mar 05, 2018 at 11:26 | Rystad Energy

Rystad Energy estimates that liquid resources from mature assets grew 151 billion barrels over the last four years, which is almost 17 percent more than the amount produced in those…

Russian Energy Minister: Gas Flow To EU Remains Reliable

Russian Energy Minister: Gas Flow To EU Remains Reliable

Mar 05, 2018 at 10:00 | Tsvetana Paraskova

Russia’s Energy Minister Alexander Novak has said that Russian natural gas deliveries to the European Union remain reliable despite the fresh dispute between Russia’s Gazprom and the gas company of…

Sharara Oil Field Resumes Pumping After Weekend Shutdown

Sharara Oil Field Resumes Pumping After Weekend Shutdown

Mar 05, 2018 at 09:25 | Irina Slav

Crude oil production at Sharara, Libya’s biggest oil field, was briefly suspended after the pipeline that feeds the crude from the field to the Zawiya terminal was blocked. That’s what…

Saudi Arabian Oilfields “Greenest” In The World

Saudi Arabian Oilfields “Greenest” In The World

Mar 02, 2018 at 16:49 | Zainab Calcuttawala

Nature magazine’s new study says Saudi Arabian oilfields are amongst the lowest carbon emitters on the planet, according to the Houston Chronicle. Venezuelan fields took the opposite aplomb, with…

Oil Major Total Boosts Presence In Libya’s Upstream

Oil Major Total Boosts Presence In Libya’s Upstream

Mar 02, 2018 at 16:47 | Tsvetana Paraskova

France’s oil major Total is boosting its upstream Libyan operations by acquiring the 16.33-percent stake of the Waha oil concessions held by U.S. Marathon Oil Corporation for US$450 million…

Oil Industry Opposes Steel Tariffs

Oil Industry Opposes Steel Tariffs

Mar 02, 2018 at 16:43 | Zainab Calcuttawala

The Trump administration announced new tariffs on imported steel and aluminum on Thursday, despite resistance from the United States oil industry, Republicans leaders in Congress, and key international trading partners,…

Ukraine Closes Schools To Save Natural Gas

Ukraine Closes Schools To Save Natural Gas

Mar 02, 2018 at 16:34 | Tsvetana Paraskova

Amid freezing temperatures in a Europe-wide cold snap, Ukraine has switched its thermal power plants to fuel oil from natural gas and is closing schools until March 6 in an…

Nigeria Is OPEC’s Only Member To Import Gasoline

Nigeria Is OPEC’s Only Member To Import Gasoline

Mar 02, 2018 at 12:39 | Tsvetana Paraskova

Nigeria’s inefficient refineries are unable to meet domestic fuel demand and have made Nigeria the only OPEC member to import gasoline, according to the managing director of the Nigerian…

Academic Slams Exxon Climate Change Study

Academic Slams Exxon Climate Change Study

Mar 02, 2018 at 11:06 | Irina Slav

A communications professor has slammed a 2017 study that had concluded Exxon knew about the effects of the oil and gas industry on the environment and did nothing about it.…

Manila, State Chinese Oil Company to Explore Disputed Sea Together

Manila, State Chinese Oil Company to Explore Disputed Sea Together

Mar 02, 2018 at 09:45 | Irina Slav

The Philippines’ government is in talks with an unnamed state Chinese oil company to discuss the opportunities for joint oil and gas exploration in the South China Sea. Earlier…

Major Canadian Heavy Oil Producer Slows Production

Major Canadian Heavy Oil Producer Slows Production

Mar 01, 2018 at 18:18 | Zainab Calcuttawala

Canada’s largest heavy oil and gas producer announced that it would slow output due to steep discounts caused by low transportation capacity out of Alberta, according to a new report…

PetroChina Signs Libya’s Third New Oil Supply Contract This Year

PetroChina Signs Libya’s Third New Oil Supply Contract This Year

Mar 01, 2018 at 17:19 | Zainab Calcuttawala

PetroChina Co. is now a regular buyer of Libyan oil, according to a new contract signed by the Chinese state-run company and the Libyan National Oil Company (NOC). Royal Dutch…

UK Issues Gas Deficit Warning Amid Cold Snap, Import Outages

UK Issues Gas Deficit Warning Amid Cold Snap, Import Outages

Mar 01, 2018 at 16:48 | Tsvetana Paraskova

A perfect storm of the ‘Beast from the East’ blizzard and Storm Emma from the Atlantic onto the southwest—coupled with freezing weather-related outages in gas imports—have prompted UK’s National Grid…

Ukraine, Russia In Fresh Gas Dispute As Gazprom Withholds Restart Of Supplies

Ukraine, Russia In Fresh Gas Dispute As Gazprom Withholds Restart Of Supplies

Mar 01, 2018 at 16:29 | Tsvetana Paraskova

Just hours after an arbitration court ruled in favor of Naftogaz in a long-running payment dispute between the Ukrainian state company and Russia’s Gazprom, a fresh gas dispute flared…

U.S. Court Gives Preliminary Nod To $3B Petrobras Class Action Settlement

U.S. Court Gives Preliminary Nod To $3B Petrobras Class Action Settlement

Mar 01, 2018 at 12:56 | Tsvetana Paraskova

Brazil’s state-controlled oil company Petróleo Brasileiro said on Thursday that a U.S. court had granted a preliminary approval to the US$3-billion agreement to settle a U.S. class action lawsuit…

CEFC China Energy Chief Probed For Economic Crimes

CEFC China Energy Chief Probed For Economic Crimes

Mar 01, 2018 at 11:36 | Irina Slav

Chinese authorities are investigating the chief executive of CEFC China Energy, Ye Jianming, on suspicion of economic crimes, an unnamed source told Reuters. The information also appeared in Chinese…

Court Rules In Favor of Ukraine’s Naftogaz In Gazprom Dispute

Court Rules In Favor of Ukraine’s Naftogaz In Gazprom Dispute

Mar 01, 2018 at 08:57 | Irina Slav

The Stockholm arbitration court ruled in favor of Naftogaz in a long-running payment dispute between the Ukrainian state company and Russia’s Gazprom. Gazprom has been obliged to pay Naftogaz

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