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News

India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues

India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues

Oct 18, 2017 at 17:15 | Zainab Calcuttawala

Venezuela’s Indian, Chinese, and American clients are complaining that crude shipments from PDVSA are poor in quality and are resulting in demands for discounts and returned shipments, according to…

Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd

Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd

Oct 18, 2017 at 17:10 | Tsvetana Paraskova

The flow of crude oil through the Kurdistan pipeline from Kirkuk to the Turkish port of Ceyhan have plummeted to some 225,000 bpd, from a typical flow of around 600,000…

Russia, Saudis Team Up To Boost Fracking Tech

Russia, Saudis Team Up To Boost Fracking Tech

Oct 18, 2017 at 17:06 | Tsvetana Paraskova

While Saudi Arabia and Russia are leading the production cut pact between OPEC and 11 non-OPEC oil producers, Russian oil company Gazprom Neft will cooperate with Saudi Aramco on ways…

Conflicting News Spurs Doubt On Aramco IPO

Conflicting News Spurs Doubt On Aramco IPO

Oct 18, 2017 at 11:16 | Irina Slav

Aramco has asked FTI Consulting to suspend investor relations work on its upcoming initial public offering, according to unnamed sources who spoke to Reuters. The sources did not elaborate…

Exxon Starts Production At New Refinery In Texas

Exxon Starts Production At New Refinery In Texas

Oct 18, 2017 at 10:45 | Tsvetana Paraskova

Less than two months after Hurricane Harvey knocked offline refinery and chemical production in the Gulf Coast, ExxonMobil started on Tuesday production on the first of two new 650,000…

Iraq Asks BP To Redevelop Kirkuk Oil Fields

Iraq Asks BP To Redevelop Kirkuk Oil Fields

Oct 18, 2017 at 09:28 | Tsvetana Paraskova

Iraqi Oil Minister Jabbar Al-Luiebi has asked BP to develop the oil fields in oil-rich Kirkuk, just a day after Iraq’s government forces completed an operation to seize…

Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw

Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw

Oct 17, 2017 at 15:52 | Julianne Geiger

Crude oil inventories are still coming down. The American Petroleum Institute (API) reported a huge draw of 7.130 million barrels in United States crude oil inventories, compared to an S&P…

Oil Gains Spur Growth In Canada’s Oil Cities

Oil Gains Spur Growth In Canada’s Oil Cities

Oct 17, 2017 at 14:03 | Zainab Calcuttawala

A modest rebound in oil and gas prices in international markets has given Calgary and Alberta the distinction of being the fastest growing metropolitan areas in Canada this year, according…

China To Take 5% Of Rosneft’s Output In New Deal

China To Take 5% Of Rosneft’s Output In New Deal

Oct 17, 2017 at 13:45 | Zainab Calcuttawala

CEFC China Energy is set to gain up to 260,000 barrels per day of oil supplies from Russia as part of its recent deal with Moscow to invest $9.1 billion…

UAE Oil Giant Seeks Partnership For Possible IPO

UAE Oil Giant Seeks Partnership For Possible IPO

Oct 17, 2017 at 13:36 | Tsvetana Paraskova

Even though the UAE’s oil firm ADNOC is seeking partnerships and exploring a possible IPO of minority stakes in some of its services units, at the holding company level ADNOC…

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