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Aramco Leads Oil Industry Investment in AI

Aramco Leads Oil Industry Investment in AI

A report by GlobalData reveals…

Oil Demand Likely To Surprise To The Upside

Oil Demand Likely To Surprise To The Upside

Commodity analysts at Standard Chartered…

News

South Korea Sends Military Forces To Strait Of Hormuz After Tanker Seizure

South Korea Sends Military Forces To Strait Of Hormuz After Tanker Seizure

Jan 05, 2021 at 10:34 | Irina Slav

South Korea has dispatched military forces to the Strait of Hormuz after the Iran Revolutionary Guard seized a Korean-flagged oil tanker yesterday. According to Arirang News, the dispatched force…

Trump Administration Finalizes Alaska Oil Drilling Plan

Trump Administration Finalizes Alaska Oil Drilling Plan

Jan 05, 2021 at 08:44 | Charles Kennedy

The Trump administration has finalized a plan that will open up more land for oil and gas drilling in the Alaska Petroleum Reserve, the Bureau of Land Management said…

Venezuela’s 2020 Oil Exports Plunged To The Lowest Level In 77 Years

Venezuela’s 2020 Oil Exports Plunged To The Lowest Level In 77 Years

Jan 04, 2021 at 16:41 | Tsvetana Paraskova

Venezuela’s crude oil and refined product exports plummeted in 2020 to their lowest level in 77 years, as the U.S. continued to step up sanctions against Nicolas Maduro’s regime and…

Russia’s Annual Oil Production Drops For The First Time Since 2008

Russia’s Annual Oil Production Drops For The First Time Since 2008

Jan 04, 2021 at 16:39 | Tsvetana Paraskova

Due to the OPEC+ production cut deal and the decreased demand in the pandemic, Russia’s crude oil and condensate production fell in 2020 for the first time since the 2008…

Natural Gas Prices Jump On Cold Weather Forecast

Natural Gas Prices Jump On Cold Weather Forecast

Jan 04, 2021 at 15:13 | ZeroHedge

Natgas February Nymex contracts jumped 3.5% Monday morning due to colder weather trends and increased heating demand forecasted for the next ten days. 

Tesla Hit Target Of 500,000 Vehicle Deliveries In 2020

Tesla Hit Target Of 500,000 Vehicle Deliveries In 2020

Jan 04, 2021 at 14:32 | Tsvetana Paraskova

Tesla delivered just 450 cars shy of the 500,000 vehicle delivery target in 2020, the electric vehicle maker said in its Q4 production and vehicle update over the weekend,…

Gold Rallies Into The New Year

Gold Rallies Into The New Year

Jan 04, 2021 at 13:04 | MINING.com

Gold is off to a good start in 2021 after recording its best yearly…

Iraq Seals Much-Needed $2 Billion Oil Deal With China

Iraq Seals Much-Needed $2 Billion Oil Deal With China

Jan 04, 2021 at 11:22 | Irina Slav

Iraq has confirmed it has struck a deal with a Chinese company to supply it with crude oil and earn an advance payment of $2 billion.

Oil Highly Volatile During OPEC+ Meeting

Oil Highly Volatile During OPEC+ Meeting

Jan 04, 2021 at 10:25 | Liubov Georges

In the morning trade on the first trading session of the new year, oil futures on the New York Mercantile Exchange and the Intercontinental Exchange saw mixed results, with international…

Iran Seizes South Korea-Flagged Oil Tanker In Persian Gulf

Iran Seizes South Korea-Flagged Oil Tanker In Persian Gulf

Jan 04, 2021 at 09:45 | Tsvetana Paraskova

The Islamic Revolution Guards Corps (IRGC) of Iran has seized a South Korea-flagged tanker in the Gulf, the semi-official Iranian Tasnim News Agency reported on Monday. The IRGC Navy…

Possible Mine Found On Oil Tanker Off Iraq

Possible Mine Found On Oil Tanker Off Iraq

Dec 31, 2020 at 12:31 | Julianne Geiger

A Liberian-flagged fuel oil tanker off the coast of Iraq has been identified to be carrying a “suspicious object” according to sailors, which could be a mine. The suspicious object…

Exxon Set For Fourth Loss In 2020 After $20-Billion Write-Down

Exxon Set For Fourth Loss In 2020 After $20-Billion Write-Down

Dec 31, 2020 at 09:25 | Tsvetana Paraskova

ExxonMobil is on track to book another quarterly loss this year—its fourth consecutive loss in 2020—announcing that it expects to book a massive up to $20-billion write-down for Q4, the…

OPEC+ Compliance Continues To Exceed 100%

OPEC+ Compliance Continues To Exceed 100%

Dec 30, 2020 at 16:14 | Julianne Geiger

OPEC+ fully complied with the supply cuts in November that the group agreed on, two sources from the group told Reuters. OPEC+ is scheduled to meet on January 4 to…

Gazprom’s Oil Unit Plunges Into Crypto Mining

Gazprom’s Oil Unit Plunges Into Crypto Mining

Dec 30, 2020 at 15:56 | Tsvetana Paraskova

Gazprom Neft, the oil unit of Russian gas giant Gazprom, has launched a cryptocurrency mining operation at one of its oil sites in Siberia, CoinDesk reported on Wednesday. Gazprom…

Iran To Buy Covid Vaccines With Income From Gas Exports To Iraq

Iran To Buy Covid Vaccines With Income From Gas Exports To Iraq

Dec 30, 2020 at 13:21 | Tsvetana Paraskova

Iran will use part of the proceeds from its electricity and natural gas exports to Iraq to buy COVID-19 vaccines from Europe, Iranian state media reported on Wednesday, quoting…

UAE-Based Firms Help Venezuela’s Oil Exports To Skirt U.S. Sanctions

UAE-Based Firms Help Venezuela’s Oil Exports To Skirt U.S. Sanctions

Dec 30, 2020 at 08:44 | Tsvetana Paraskova

Little-known shipping companies registered in the United Arab Emirates (UAE) have been shipping Venezuelan crude oil in breach of the U.S. sanctions on Nicolas Maduro’s regime, Reuters says in…

Oil Prices Continue Climb On Large Crude Draw

Oil Prices Continue Climb On Large Crude Draw

Dec 29, 2020 at 15:44 | Julianne Geiger

The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 4.785 million barrels for the week ending December 25. Analysts had predicted an inventory draw…

Enbridge Line 3 Pipeline Opponents Demand Halt Of Construction

Enbridge Line 3 Pipeline Opponents Demand Halt Of Construction

Dec 29, 2020 at 12:14 | Irina Slav

Opponents of Enbridge's Line 3 oil pipeline project are demanding that construction of the pipeline is stopped, the Associated Press has reported, saying the group alleged the U.S. Army…

Iran Cuts Power Supply To Iraq On Unpaid Debt

Iran Cuts Power Supply To Iraq On Unpaid Debt

Dec 29, 2020 at 10:31 | Charles Kennedy

Iran has reduced exports of natural gas to its neighbor Iraq claiming the latter owed it more than $6 billion for supplies already made. The cuts were made two weeks…

BMW To Challenge Tesla With Ambitious EV Plan

BMW To Challenge Tesla With Ambitious EV Plan

Dec 29, 2020 at 09:01 | ZeroHedge

As if Tesla's inclusion in to the S&P 500 and ARK Invest's batshit insane impressive fund inflows over the last couple weeks haven't been enough to make you consider a top…

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