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Saudi Arabia’s Oil Exports Dropped 11% In 2019

Saudi Arabia’s Oil Exports Dropped 11% In 2019

Saudi Arabia’s oil exports dropped…

Libya Faces Disaster If Oil Blockade Continues

Libya Faces Disaster If Oil Blockade Continues

Libya is facing financial disaster…

Europe's Largest Economy Is Betting Big On Hydrogen

Europe's Largest Economy Is Betting Big On Hydrogen

Germany, Europe’s largest economy is…

News

Shell Looks To Expand Mars Crude Pipeline System

Shell Looks To Expand Mars Crude Pipeline System

Feb 20, 2020 at 16:01 | Julianne Geiger

Shell Midstream Partners LP (NYSE: SHLX) announced that it is considering expanding its 163-mile-long Mars crude oil pipeline in the Gulf of Mexico, the company said in a Thursday earnings…

Petrobras Books Record Net Profit In 2019

Petrobras Books Record Net Profit In 2019

Feb 20, 2020 at 13:50 | Tsvetana Paraskova

Brazil’s state-run oil firm Petrobras (NYSE: PBR) reported on Thursday a record net profit for 2019, thanks to asset sales under its strategy to divest non-core operations and…

Russia, OPEC Will Not Move Forward Their Next Meeting

Russia, OPEC Will Not Move Forward Their Next Meeting

Feb 20, 2020 at 11:31 | Tsvetana Paraskova

Despite the uncertainty on the oil market amid the coronavirus outbreak, there is a common understanding among the OPEC+ coalition that ministers do not need to move forward their meeting…

Venezuela Declares An Energy Emergency

Venezuela Declares An Energy Emergency

Feb 20, 2020 at 11:29 | Irina Slav

Venezuela’s President Nicolas Maduro has declared emergency for the country’s oil industry, calling for measures to ensure Venezuela’s energy security, Sputnik reports, quoting a tweet by the presidential…

Suncor Gets Alberta Approval for 40,000-Bpd Oil Sands Project

Suncor Gets Alberta Approval for 40,000-Bpd Oil Sands Project

Feb 20, 2020 at 09:30 | Irina Slav

Suncor has received the approval of the Alberta government for its Meadow Creek West oil sands project that will produce 40,000 bpd of crude, Canadian media report. Meadow Creek…

Larger Than Expected Crude Build Threatens This Week’s Oil Rally

Larger Than Expected Crude Build Threatens This Week’s Oil Rally

Feb 19, 2020 at 15:45 | Julianne Geiger

The American Petroleum Institute (API) estimated on Wednesday a larger than anticipated crude oil inventory build of 4.16-million barrels for the week ending February 14, compared to analyst expectations of…

Trafigura To Shun Rosneft Trading Due To New Round Of Sanctions

Trafigura To Shun Rosneft Trading Due To New Round Of Sanctions

Feb 19, 2020 at 15:32 | Julianne Geiger

Just one day after the United States slapped sanctions on Rosneft’s subsidiary Rosneft Trading, oil trader Trafigura has announced that it will disentangle itself from the sanctioned company by mid-May…

Indian Buyers Of Venezuela Oil Vow Compliance As US Sanctions Hit Rosneft

Indian Buyers Of Venezuela Oil Vow Compliance As US Sanctions Hit Rosneft

Feb 19, 2020 at 15:18 | Tsvetana Paraskova

Indian conglomerate Reliance Industries is studying the impact of the newly imposed U.S. sanctions on a unit of Russia’s Rosneft over trade of Venezuelan crude oil, and will make…

Canada’s Inflation Jumps 2.4% On Higher Gasoline Prices

Canada’s Inflation Jumps 2.4% On Higher Gasoline Prices

Feb 19, 2020 at 13:13 | Tsvetana Paraskova

Canada’s consumer prices jumped by 2.4 percent year on year in January, exceeding analyst expectations, on the back of an 11-percent surge in gasoline prices tracking higher oil prices…

Turkish Media Claim Kurds, US Smuggle Syrian Oil

Turkish Media Claim Kurds, US Smuggle Syrian Oil

Feb 19, 2020 at 12:33 | Tsvetana Paraskova

Kurdish fighters in Syria are smuggling oil out of the war-torn country in partnership with the U.S., Turkish language daily Yeni ?afak reports, quoting fighters of the Kurdish YPG…

  
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