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News

China Looks To Buy Stake In A Major Iraqi Oilfield

China Looks To Buy Stake In A Major Iraqi Oilfield

Nov 20, 2020 at 09:10 | Michael Kern

State giants China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are interested in buying ExxonMobil’s entire operating stake in one of the largest oilfields in Iraq,…

UAE Clarifies Stance On OPEC Membership

UAE Clarifies Stance On OPEC Membership

Nov 19, 2020 at 14:44 | Julianne Geiger

Anonymous UAE officials claimed earlier in the week that the country was considering breaking away from OPEC, citing the difficulties it is facing due to the stringent production cuts it…

Tesla Slammed In Consumer Reliability Report

Tesla Slammed In Consumer Reliability Report

Nov 19, 2020 at 13:23 | Tsvetana Paraskova

Despite the rise in electric vehicle (EV) sales and the growing number of their devoted fans, electric carmakers continue to experience growing pains, and their cars didn’t score very well…

UK Renewable Giant Suffers Despite Green Energy Push

UK Renewable Giant Suffers Despite Green Energy Push

Nov 19, 2020 at 13:12 | City A.M

Energy giant SSE today said that profit before tax had fallen a quarter in the first half of the year due to the coronavirus pandemic. The FTSE 100 company said…

The EV Boom Is Sending Battery Metals Into The Stratosphere

The EV Boom Is Sending Battery Metals Into The Stratosphere

Nov 19, 2020 at 12:42 | MINING.com

The MINING.COM EV Metal Index, which tracks the value of battery metals in newly…

Goldman Sets $2,300 Price Target For Gold In 2021

Goldman Sets $2,300 Price Target For Gold In 2021

Nov 19, 2020 at 11:50 | MINING.com

Gold prices are expected to break out of the current narrow trading range and soar through 2021 as the coronavirus recession gives way to higher inflation,

China Buys Into Mexico’s Emerging Renewable Energy Sector

China Buys Into Mexico’s Emerging Renewable Energy Sector

Nov 19, 2020 at 11:29 | Tsvetana Paraskova

A Chinese energy giant has bought the biggest independent producer of renewable energy in Mexico, giving the industry a vote of confidence even as Mexico’s authorities have moved…

A Big Week For Venezuela’s Oil Industry

A Big Week For Venezuela’s Oil Industry

Nov 19, 2020 at 10:29 | Latin America Energy Advisor

Venezuelan Officials Arrive in Russia, Seeking New Deals  Venezuela’s vice president and the head of state oil company PDVSA arrived in Russia last week on a trip aimed…

Total Bets Big On Libya’s Oil Industry

Total Bets Big On Libya’s Oil Industry

Nov 19, 2020 at 09:44 | Irina Slav

French Total plans to increase its investments in Libya’s oil industry, the National Oil Corporation said, adding it had discussed with the company raising Libya’s production to “the highest…

Oil Search Ready To Restart Alaskan Crude Production

Oil Search Ready To Restart Alaskan Crude Production

Nov 19, 2020 at 09:23 | Irina Slav

Australian Oil Search plans to make the final investment decision on the Pikka project in Alaska next year and launch production in 2025, chief executive Keiran Wulff told investors…

Oil Crash Continues To Claim Bankruptcy Victims In U.S. Shale Patch

Oil Crash Continues To Claim Bankruptcy Victims In U.S. Shale Patch

Nov 18, 2020 at 16:58 | Charles Kennedy

After a wave of bankruptcies in the third quarter, oil producers and oilfield services companies in the U.S. shale patch continued to file for protection from creditors at the…

OPEC+ Needs To Compensate 2.35 Million Bpd Oversupply

OPEC+ Needs To Compensate 2.35 Million Bpd Oversupply

Nov 18, 2020 at 16:56 | Tsvetana Paraskova

The OPEC+ group has overproduced as much as 2.346 million barrels per day (bpd) over their collective quota since the start of the record production cuts, a source with knowledge…

Trump Administration Holds Its Last Offshore Oil Auction

Trump Administration Holds Its Last Offshore Oil Auction

Nov 18, 2020 at 13:27 | Tsvetana Paraskova

The Bureau of Ocean Energy Management (BOEM) is holding on Wednesday the last offshore lease sale for the year and the last such lease sale under the current U.S.…

Oil Majors Look To Bolster Security In Nigeria Amid Protests

Oil Majors Look To Bolster Security In Nigeria Amid Protests

Nov 18, 2020 at 10:01 | Tsvetana Paraskova

Major oil companies have asked local authorities to boost surveillance on oil-producing and oil and infrastructure assets in Nigeria amid escalating protests against police brutality and plans for oil job…

Indigenous Group Pours C$1B Into Keystone XL

Indigenous Group Pours C$1B Into Keystone XL

Nov 18, 2020 at 09:33 | Irina Slav

A Canadian indigenous group has struck a deal with TC Energy to invest some $763. 77 million (C$1 billion) in the controversial Keystone XL, which Joe Biden has said he…

Oil Prices Under Pressure After API Reports Crude Inventory Build

Oil Prices Under Pressure After API Reports Crude Inventory Build

Nov 17, 2020 at 15:48 | Julianne Geiger

The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 4.174 million barrels for the week ending November 13. Analysts had predicted an inventory build…

India Urges Oil Firms To Consider Foreign Partners To Boost Production

India Urges Oil Firms To Consider Foreign Partners To Boost Production

Nov 17, 2020 at 14:38 | Charles Kennedy

India’s oil and gas companies should consider selling stakes in their exploration acreage to foreign companies with the technology to tap more oil and gas resources, India’s Oil Minister Dharmendra…

Exxon’s Deepest Guyana Oil Well Disappoints

Exxon’s Deepest Guyana Oil Well Disappoints

Nov 17, 2020 at 14:06 | Charles Kennedy

After a series of major oil discoveries offshore Guyana, ExxonMobil and partners found that the deepest well drilled so far offshore the Latin American country did not have commercial potential…

COVID-19 Takes Major Toll On Australian Oil & Gas Jobs

COVID-19 Takes Major Toll On Australian Oil & Gas Jobs

Nov 17, 2020 at 11:29 | Rystad Energy

The Covid-19 pandemic hit Australia’s already declining oil and gas workforce hard, causing a loss of over 28,000 jobs this year, equivalent to a quarter of the country’s total count,…

Equinor Sees COVID Accelerating Peak Oil Demand To 2027-2028

Equinor Sees COVID Accelerating Peak Oil Demand To 2027-2028

Nov 17, 2020 at 10:37 | Tsvetana Paraskova

Slower demand growth due to the pandemic and a drop in global oil supply due to low investments could result in peak oil demand 2-3 years sooner than an earlier…

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