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Oil Inches Higher On Falling Rig Count

Oil Inches Higher On Falling Rig Count

Oil prices inched higher at…

Is It Time For A Contrarian Bet On Oil?

Is It Time For A Contrarian Bet On Oil?

A slew of bearish news…

News

Petrobras Plans $105 Billion In Investments Till 2023

Petrobras Plans $105 Billion In Investments Till 2023

Jun 12, 2019 at 13:54 | Irina Slav

Brazil’s Petrobras plans to invest a total US$105 billion in the five years to 2023 and divest assets worth US$35 billion, chief executive Roberto Castello Branco said this week as…

Shell Sells California Refinery for $1 Billion

Shell Sells California Refinery for $1 Billion

Jun 12, 2019 at 13:32 | Irina Slav

Shell has struck a deal with refiner PBF Energy to sell it its refinery in Martinez, California, for up to US$1 billion, depending on the closing date, the buyer

China's Biodiesel Imports Rise 194.2%

China's Biodiesel Imports Rise 194.2%

Jun 12, 2019 at 12:35 | JLC

China’s biodiesel imports increased in April 2019, as domestic demand moved up and the supply turned tight.China imported 38,669.1 mt of biodiesel (HS Code: 38260000) in April 2019,…

Oil Producer In Libya: It’s A Day-To-Day Struggle To Keep Pumping

Oil Producer In Libya: It’s A Day-To-Day Struggle To Keep Pumping

Jun 12, 2019 at 10:40 | Tsvetana Paraskova

Continued clashes in Libya and an escalation of hostilities could threaten the oil production of Wintershall Dea in the North African country, Mario Mehren, the chief executive of the European…

Exxon Scales Up In Vaca Muerta, Drills 90 Wells

Exxon Scales Up In Vaca Muerta, Drills 90 Wells

Jun 12, 2019 at 09:22 | Irina Slav

Exxon plans to drill 90 wells and produce 55,000 barrels of oil equivalent from an oil and gas block in Argentina’s Vaca Muerta shale play, the company said in a…

Oil Falls After API Reports Surprise Crude Build

Oil Falls After API Reports Surprise Crude Build

Jun 11, 2019 at 15:46 | Julianne Geiger

The American Petroleum Institute (API) reported another large, surprise build in crude oil inventories of 4.852 million barrels for the week ending June 6, coming in over analyst expectations of…

Trafigura Sees 92% Increase In Profit On Booming Oil & Gas Trading Business

Trafigura Sees 92% Increase In Profit On Booming Oil & Gas Trading Business

Jun 11, 2019 at 15:32 | Julianne Geiger

Trafigura’s six-month profit rose to 92 percent as its oil and gas trading desks offset weakness in other divisions, according to Reuters. The hefty increase in profits for the…

IHS Markit: China Is Iran’s Last Hope To Continue Exporting Oil

IHS Markit: China Is Iran’s Last Hope To Continue Exporting Oil

Jun 11, 2019 at 15:26 | Tsvetana Paraskova

Iran’s oil exports will greatly depend on how China will proceed with its crude oil imports from the Islamic Republic, if at all, after the U.S. removed all sanction waivers…

Libyan Oilfield Fire Adds To Oil Outages In Iran, Venezuela

Libyan Oilfield Fire Adds To Oil Outages In Iran, Venezuela

Jun 11, 2019 at 12:05 | Tsvetana Paraskova

The Sarir oilfield in Libya’s Sirte basin has seen its oil production drop by 30,000 bpd since June 9 when a fire broke out in a power generator due to…

Sinopec Forms LNG Trading JV With Russia's Novatek, Gazprombank

Sinopec Forms LNG Trading JV With Russia's Novatek, Gazprombank

Jun 11, 2019 at 11:06 | JLC

Sinopec has signed heads of agreement with Russia's Novatek and Gazprombank to establish a joint venture in China for selling liquefied natural gas (LNG) to local end-users, Sinopec announced. The…


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