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Oil Could Fall To $40 If OPEC Abandons Its Deal

Oil Could Fall To $40 If OPEC Abandons Its Deal

Russia has announced that the…

Why Elon Musk Is Wrong About Hydrogen

Why Elon Musk Is Wrong About Hydrogen

Electric passenger vehicles are getting…

News

Kuwait Could Add 400,000 Bpd Heavy Oil Output By January 2020

Kuwait Could Add 400,000 Bpd Heavy Oil Output By January 2020

Apr 17, 2019 at 15:35 | Tsvetana Paraskova

Kuwait will start this year the first phase of a heavy oil field production, aiming to boost heavy crude output to 430,000 bpd from 60,000 bpd by January, the official Kuwait…

Hundreds Dead, Injured As Fighting Escalates In Oil-Rich Libya

Hundreds Dead, Injured As Fighting Escalates In Oil-Rich Libya

Apr 17, 2019 at 15:28 | Tsvetana Paraskova

Since eastern strongman General Khalifa Haftar ordered his self-styled Libyan National Army (LNA) to march on Tripoli, almost 180 people have died and 800 others have been wounded in…

Egypt’s Huge Fuel Subsidy Cuts Could Spark Protests

Egypt’s Huge Fuel Subsidy Cuts Could Spark Protests

Apr 17, 2019 at 14:12 | Tsvetana Paraskova

Egypt plans to slash fuel and electricity subsidies in its 2019/2020 financial year, the finance ministry’s draft budget shows, but raising fuel prices closer to international levels could turn out…

Why Aramco Wants In On India’s Largest Refining Company

Why Aramco Wants In On India’s Largest Refining Company

Apr 17, 2019 at 12:05 | Tsvetana Paraskova

Saudi Arabia’s oil giant Aramco is in “serious discussions” to buy up to 25 percent of the refining and petrochemicals businesses of India’s largest company, Reliance Industries, The Times of…

Guaido Wants Annulment Of ConocoPhillips Compensation

Guaido Wants Annulment Of ConocoPhillips Compensation

Apr 17, 2019 at 11:07 | Irina Slav

The President of Venezuela’s National Assembly and opposition leader Juan Guaido will try to win an annulment for an US$8.7-billion compensation awarded to U.S. supermajor ConocoPhillips by an arbitration court…

Oil Industry Relieved After Major Conservative Win In Alberta

Oil Industry Relieved After Major Conservative Win In Alberta

Apr 17, 2019 at 10:28 | Irina Slav

The United Conservative Party won the provincial vote in Alberta with an overwhelming majority, promising a harder line on energy issues as a champion for the oil industry. The…

Iranian Oil Exports Drop As Waiver Expiry Draws Near

Iranian Oil Exports Drop As Waiver Expiry Draws Near

Apr 17, 2019 at 09:05 | Julianne Geiger

Iranian oil exports have dropped this month as waivers are soon set to expire, Refinitiv Eikon and tanker tracking data showed, according to Reuters. The United States is set…

Crude, Gasoline Draw Boost Oil Prices

Crude, Gasoline Draw Boost Oil Prices

Apr 16, 2019 at 15:54 | Julianne Geiger

The American Petroleum Institute (API) reported a draw in crude oil inventory of 3.096 million barrels for the week ending April 12, coming in over analyst expectations of a ­

Goldman Sachs-Backed Russian Oil Firm Plans Expansion

Goldman Sachs-Backed Russian Oil Firm Plans Expansion

Apr 16, 2019 at 15:02 | Tsvetana Paraskova

Independent Russian oil and gas producer Irkutsk Oil Company (INK), which has Goldman Sachs as a shareholder, stands out in the state firm-dominated sector in Russia and plans to…

Iran Shutters Oil Fields To Cope With Deadly Floods

Iran Shutters Oil Fields To Cope With Deadly Floods

Apr 16, 2019 at 13:53 | Tsvetana Paraskova

Iran has shut down some oil fields in its southwest Khuzestan province bordering Iraq and the Persian Gulf, as the Islamic Republic is looking to control the damage from recent…

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