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News

Oil Prices Slip On Large Gasoline Build

Oil Prices Slip On Large Gasoline Build

Feb 09, 2021 at 15:59 | Julianne Geiger

The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 3.500 million barrels for the week ending February 5. Analysts had predicted an inventory build…

Saudi Arabia’s Central Bank Just Made A Historic Move

Saudi Arabia’s Central Bank Just Made A Historic Move

Feb 09, 2021 at 14:52 | Tsvetana Paraskova

Saudi Arabia has recently overhauled the role of its central bank, for the first time ever, in a move that could mark an acceleration of Crown Prince Mohammed bin Salman’s…

Germany’s Gas Storage Depletes Fast Amid Lower Gazprom Flows

Germany’s Gas Storage Depletes Fast Amid Lower Gazprom Flows

Feb 09, 2021 at 14:33 | Tsvetana Paraskova

Germany’s gas storage levels are lower than typical for the beginning of February in full winter season, and the main reason for this is reduced natural gas pipeline flows…

Tesla's $25,000 China-Made Compact Car To Sell Globally

Tesla's $25,000 China-Made Compact Car To Sell Globally

Feb 09, 2021 at 13:21 | OPC Markets

Tesla China, which is set to design a new compact $25,000 Tesla in Shanghai, will eventually sell the model worldwide, Teslarati reported on Tuesday, citing a recent interview of…

National Oil Companies On Collision Course With Climate Targets

National Oil Companies On Collision Course With Climate Targets

Feb 09, 2021 at 10:36 | Irina Slav

State-owned oil companies are on course to invest $400 billion in oil and gas projects that could only break even if the world exceeds the Paris Agreement targets, a think…

Total Reports Huge Loss For 2020

Total Reports Huge Loss For 2020

Feb 09, 2021 at 09:36 | OPC Markets

French supermajor Total reported a net loss of $7.2 billion for 2020, down from a profit of $11.27 billion for 2019, and said it will change its name to…

Amazon Moves On Its Largest Renewable Project

Amazon Moves On Its Largest Renewable Project

Feb 08, 2021 at 17:44 | Julianne Geiger

Amazon (NASDAQ: AMZN) has reached a deal for its largest renewable energy project yet—one that will allow it to purchase 380 MW of wind energy. Hollandse Kust Noord—a wind farm…

Tesla's Strategic Investment Could Make Indonesia A Battery Hub

Tesla's Strategic Investment Could Make Indonesia A Battery Hub

Feb 08, 2021 at 17:05 | MINING.com

In December 2020, reports emerged that Tesla would send delegations to Indonesia…

Oil Loading At Libyan Export Terminal Disrupted Again

Oil Loading At Libyan Export Terminal Disrupted Again

Feb 08, 2021 at 14:07 | Charles Kennedy

A tanker had to leave Libya’s Hariga export terminal without oil after members of the Petroleum Facilities Guard stopped the vessel from loading crude amid an ongoing strike over delayed…

Egypt Set To Launch Next Oil & Gas Auction This Month

Egypt Set To Launch Next Oil & Gas Auction This Month

Feb 08, 2021 at 12:31 | Tsvetana Paraskova

Egypt’s state oil and gas companies are set to launch the country’s new oil and gas exploration bid round by the end of this month, the petroleum minister said a…

Iran Denies Knowledge Of Oil Tanker U.S. Wants To Seize

Iran Denies Knowledge Of Oil Tanker U.S. Wants To Seize

Feb 08, 2021 at 10:39 | Irina Slav

Iran has denied any knowledge of an oil tanker that the United States has targeted for seizure because it was used to export crude from Iran despite U.S. sanctions, Bloomberg…

Venezuela Jails PDVSA Managers For Providing Oil Data To U.S.

Venezuela Jails PDVSA Managers For Providing Oil Data To U.S.

Feb 08, 2021 at 09:45 | Tsvetana Paraskova

Venezuela has jailed for five years two former managers at its state oil firm PDVSA for providing sensitive data about Venezuelan oil operations to the United States, Venezuela’s attorney general…

Is There An Oil Price Correction Coming?

Is There An Oil Price Correction Coming?

Feb 05, 2021 at 17:17 | Julianne Geiger

Even as Baker Hughes reported a rise in the number of active drilling rigs in the United States on Friday, oil prices continued to see gains on…

Oil Major Total Buys Texas Solar Projects

Oil Major Total Buys Texas Solar Projects

Feb 05, 2021 at 14:01 | Tsvetana Paraskova

France’s oil and gas supermajor Total is buying four large-scale solar power projects plus battery storage assets in Texas, with which it plans to meet the electricity demand of…

Shell May Re-evaluate Oil Operations Onshore Nigeria

Shell May Re-evaluate Oil Operations Onshore Nigeria

Feb 05, 2021 at 13:26 | OPC Markets

Persistent issues with theft and sabotage in the Niger Delta could prompt Shell to take a hard look at its operations onshore Nigeria, the supermajor’s chief executive Ben van Beurden…

EV Newcomer Lucid To Challenge Tesla In Luxury Space

EV Newcomer Lucid To Challenge Tesla In Luxury Space

Feb 05, 2021 at 10:40 | Charles Kennedy

Lucid Air, a luxury electric sedan, is set to hit markets this spring, with a price tag of $169,000 in what some see as a direct challenge to the…

China’s Oil Major CNOOC Boosts Capex To 7-Year High Despite Pandemic

China’s Oil Major CNOOC Boosts Capex To 7-Year High Despite Pandemic

Feb 05, 2021 at 09:33 | Irina Slav

Chinese state oil and gas company CNOOC will boost its capital spending this year to the highest in seven years, thanks to a 5-percent increase in domestic output. Reuters

Alberta Wants To Make The U.S. Pay For Scrapped Keystone XL

Alberta Wants To Make The U.S. Pay For Scrapped Keystone XL

Feb 04, 2021 at 17:44 | Julianne Geiger

Alberta, Canada’s oil heartland, may seek compensation from the United States after newly inaugurated President Joe Biden moved to nix the Keystone XL Pipeline, Bloomberg said on Thursday. Alberta…

Norway’s $1.2-Trillion Wealth Fund To Fight Corruption At National Oil Companies

Norway’s $1.2-Trillion Wealth Fund To Fight Corruption At National Oil Companies

Feb 04, 2021 at 16:57 | Tsvetana Paraskova

Norway’s oil fund, as the world’s biggest sovereign wealth fund is commonly known, will expand its scrutiny for possible corruption at national oil companies under strengthened guidelines from the fund’s…

Denmark To Build Wind Energy Hub On Artificial Island In The North Sea

Denmark To Build Wind Energy Hub On Artificial Island In The North Sea

Feb 04, 2021 at 15:32 | Charles Kennedy

Denmark will build an artificial island in the North Sea, which will serve as a wind energy hub eventually capable of meeting the electricity consumption of 10 million European households…

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