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News

Tesla Stock Soars After S&P 500 Addition

Tesla Stock Soars After S&P 500 Addition

Nov 17, 2020 at 09:02 | Charles Kennedy

Tesla will join the S&P 500 index in December after reporting five consecutive quarterly profits. "Tesla Inc. (NASD:TSLA) will be added to the S&P 500 effective prior to the open…

OPEC+ Meeting Concludes With Support For Cut Extension

OPEC+ Meeting Concludes With Support For Cut Extension

Nov 16, 2020 at 17:31 | Julianne Geiger

OPEC+’s technical meeting finished on Monday with widespread support for a three-month extension of the current level of oil production cuts, sources told Reuters on Monday. OPEC sources hinted last…

Sudan To Offer 27 Oil Concessions In Global Bidding Round

Sudan To Offer 27 Oil Concessions In Global Bidding Round

Nov 16, 2020 at 15:23 | Charles Kennedy

The government of Sudan plans to offer to investors concessions of 27 oil blocks in the country via a global bid, Acting Energy Minister Kheiri Abdelrahman told a local television…

Oil & Gas Discoveries Resilient In 2020 Despite Pandemic

Oil & Gas Discoveries Resilient In 2020 Despite Pandemic

Nov 16, 2020 at 14:00 | Tsvetana Paraskova

Despite delays in drilling campaigns and reduced exploration budgets due to COVID-19, the volume of oil and gas discoveries globally is set to reach 10 billion barrels of oil equivalent…

U.S. Natural Gas Stocks Close To Record-High At Refill Season End

U.S. Natural Gas Stocks Close To Record-High At Refill Season End

Nov 16, 2020 at 12:33 | Charles Kennedy

Natural gas inventories in the United States ended the injection season between April and October 2020 close to the all-time high from 2016, the Energy Information Administration (EIA) said…

Michigan Order Enbridge To Shut Down Line 5

Michigan Order Enbridge To Shut Down Line 5

Nov 16, 2020 at 10:47 | Charles Kennedy

Michigan’s Governor Gretchen Whitmer and the director of the state’s Department of Natural Resources have revoked Enbridge’s easement for the operation of the twin Line 5 pipeline, citing repeated…

Twitter Blocks Iran Oil Minister's Account

Twitter Blocks Iran Oil Minister's Account

Nov 16, 2020 at 09:28 | Charles Kennedy

Twitter has blocked the official account of Bijan Zanganeh, the Petroleum Minister of Iran, IRNA has reported. The U.S. government slapped sanctions Ion Zanganeh in late October, as part…

OPEC+ Compliance With Cuts At 101% Ahead Of Crucial Meetings

OPEC+ Compliance With Cuts At 101% Ahead Of Crucial Meetings

Nov 13, 2020 at 17:28 | Charles Kennedy

The OPEC+ group complied 101 percent with the oil production cuts in October, keeping a high level of conformity ahead of the crucial meetings over the next two weeks, which…

Libya’s Oil Production Exceeds 1.2 Million Bpd

Libya’s Oil Production Exceeds 1.2 Million Bpd

Nov 13, 2020 at 17:01 | Charles Kennedy

Oil production in Libya has already exceeded 1.2 million barrels per day (bpd), a source in Libya’s oil industry told Reuters on Friday, while this faster-than-expected output resumption could…

The Price Of Permian Acreage Has Slumped By 67% After Oil Price Crash

The Price Of Permian Acreage Has Slumped By 67% After Oil Price Crash

Nov 13, 2020 at 13:19 | Tsvetana Paraskova

Due to the oil price collapse earlier this year, the price for drilling rights in the Permian basin has plunged by 67 percent since 2018, setting the stage for more…

PDVSA Chief Goes to Russia To

PDVSA Chief Goes to Russia To "Deepen Ties"

Nov 13, 2020 at 10:47 | Charles Kennedy

The head of Venezuela's state oil company PDVSA, Asdrubal Chavez, and Venezuelan vice-president and economy minister Delcy Rodriguez are visiting Russia today to "deepen strategic alliances," Reuters reported, citing…

Enbridge Gets More Permits For Line 3

Enbridge Gets More Permits For Line 3

Nov 13, 2020 at 09:33 | Irina Slav

Enbridge received a set of permits from Minnesota regulators that will allow it to push ahead with its Line 3 replacement project, the Minnesota Pollution Control Agency said. The…

Fuel Demand Slump Speeds Up Refinery Closures

Fuel Demand Slump Speeds Up Refinery Closures

Nov 12, 2020 at 16:39 | Tsvetana Paraskova

Refiners around the world have been announcing permanent closures of refinery capacity this year after the pandemic crushed fuel demand worldwide, and significant overcapacity still remains, the International Energy Agency…

Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster

Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster

Nov 12, 2020 at 15:50 | Tsvetana Paraskova

A local governor in Japan has approved plans from utility Tohoku Electric Power to restart one of its nuclear reactors that was damaged in the 2011 earthquake and the following…

Energy Has Become Bargaining Chip In Brexit Talks

Energy Has Become Bargaining Chip In Brexit Talks

Nov 12, 2020 at 14:37 | Charles Kennedy

The European Union (EU) is conditioning the United Kingdom’s access to the EU energy market to Britain, making concessions on the fishing rights in British waters, Bloomberg reports. In…

Australia-China Spat Threatens LNG Deal

Australia-China Spat Threatens LNG Deal

Nov 12, 2020 at 12:33 | Irina Slav

A sharp worsening in relations between Australia and China could threaten a deal that would have seen Woodside Petroleum sell a stake in a natural gas field and in the…

African Oil Producers Face Slump In Production

African Oil Producers Face Slump In Production

Nov 12, 2020 at 11:22 | Charles Kennedy

The five largest producers of crude oil in Africa face a combined production decline of 19 percent as a result of the pandemic’s effect on oil demand and the acceleration…

Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production

Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production

Nov 12, 2020 at 10:01 | ZeroHedge

On Thursday morning, Tropical Storm Eta made landfall over North Florida and has become the 12th named storm to make landfall out of a record-breaking year of 29 named storms.…

Ghana Tells Eni To Merge Oil Field With Local Discovery

Ghana Tells Eni To Merge Oil Field With Local Discovery

Nov 12, 2020 at 09:38 | Irina Slav

Ghana has told Italy’s Eni to merge its Sankofa offshore discovery with another field, discovered by a locally based company, Bloomberg reports, citing a letter by Ghanaian Energy Minister…

Iran Claims Its Oil Exports Have Been At 700,000 Bpd Since March

Iran Claims Its Oil Exports Have Been At 700,000 Bpd Since March

Nov 11, 2020 at 17:04 | Tsvetana Paraskova

Iran said on Wednesday that its oil exports have averaged between 600,000 barrels per day (bpd) and 700,000 bpd since the start of the Iranian year in March, yet analysts…

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