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Texas Deepwater Oil Export Projects Stall

Texas Deepwater Oil Export Projects Stall

Four projects were planned offshore…

Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Despite Congress passing new sanctions…

What Does Billionaires Dominating Space Travel Mean for the World?

What Does Billionaires Dominating Space Travel Mean for the World?

Billionaires' ventures into space travel…

News

Iran’s Oil Minister: No One Wants To Deal With Tehran Due To U.S. Sanctions

Iran’s Oil Minister: No One Wants To Deal With Tehran Due To U.S. Sanctions

Jul 20, 2020 at 13:22 | Tsvetana Paraskova

The U.S. sanctions on Iran’s oil and other industries are scaring foreign firms which are unwilling to sign any deals in any sector with Iran and are even rescinding existing…

Iran Aims At $1 Trillion Oil Revenue From Giant Field Development

Iran Aims At $1 Trillion Oil Revenue From Giant Field Development

Jul 20, 2020 at 12:39 | Charles Kennedy

Iran signed on Monday a US$1.3-billion deal with domestic companies to double the production capacity at the massive Azadegan oilfield, expecting the rise in production to boost its oil…

Armed Groups Clash In Libya’s Oil Crescent

Armed Groups Clash In Libya’s Oil Crescent

Jul 20, 2020 at 10:40 | Irina Slav

Violent clashes erupted over the weekend between two armed groups in the Brega region, in Libya’s Oil Crescent, the Libyan National Oil Corporation said in a statement. “Violent Clashes took…

Crisis Fuels Qatar’s New Gas Boom

Crisis Fuels Qatar’s New Gas Boom

Jul 20, 2020 at 08:52 | Michael Kern

The current energy market crisis could benefit Qatar and fuel a second gas boom, PwC said in a report, as cited by the Gulf Times. The world’s top exporter…

Shell: UK Could Achieve Goal To Ban Gasoline Cars Sales As Early As 2030

Shell: UK Could Achieve Goal To Ban Gasoline Cars Sales As Early As 2030

Jul 17, 2020 at 15:17 | Tsvetana Paraskova

Shell believes that the UK government could bring forward its timeline to ban the sale of new gasoline and diesel vehicles as early as in 2030, with the “the right…

Russia Aims For 15% Of Global LNG Market By 2025

Russia Aims For 15% Of Global LNG Market By 2025

Jul 17, 2020 at 15:10 | Tsvetana Paraskova

Ongoing development of new liquefied natural gas (LNG) projects in Russia will allow it to seize a 15-percent share of the global LNG market, Russian Energy Minister Alexander Novak wrote…

U.S. Regulators Approve Elba Island LNG Expansion

U.S. Regulators Approve Elba Island LNG Expansion

Jul 17, 2020 at 11:54 | Charles Kennedy

U.S. regulators have approved a request from Kinder Morgan to authorize the start of the seventh train of the Elba Island liquefied natural gas (LNG) export plant in Georgia, Reuters…

India Could Store Some Of Its Crude In The U.S.

India Could Store Some Of Its Crude In The U.S.

Jul 17, 2020 at 10:37 | Charles Kennedy

India may store some of its crude oil in the United States, the Hindustan Times reports, citing unnamed sources in the know. “The proposal to store oil in the…

Total Secures $16 Billion In Funding For Key LNG Project

Total Secures $16 Billion In Funding For Key LNG Project

Jul 17, 2020 at 09:41 | Irina Slav

French supermajor Total has secured as much as $16 billion in funding for its LNG project in Mozambique despite the supply glut and demand decline in the LNG…

Russian Oil Minister: Get Ready for a Significant Uptick In Crude Oil Demand

Russian Oil Minister: Get Ready for a Significant Uptick In Crude Oil Demand

Jul 16, 2020 at 17:29 | Julianne Geiger

Global oil demand will recover significantly next month, climbing to be within 10% of the level that the world saw prior to the coronavirus pandemic, Russia Energy Minister Alexander…

Shell CEO: Don’t Expect V-Shaped Oil Demand Recovery

Shell CEO: Don’t Expect V-Shaped Oil Demand Recovery

Jul 16, 2020 at 16:15 | Tsvetana Paraskova

The global economy and oil demand are most likely not headed for a V-shaped recovery as the pandemic will have a knock on energy demand for years, Shell’s chief executive…

Tesla Sees New Registrations In California Crash In Q2

Tesla Sees New Registrations In California Crash In Q2

Jul 16, 2020 at 14:20 | Tsvetana Paraskova

Amid a slump in car sales of any kind during the lockdown, Tesla’s registrations in California plunged by 48 percent year on year to 9,774 vehicles in the second quarter…

Indonesia Aims To Boost Domestic Oil Production To 1 Million Barrels Per Day

Indonesia Aims To Boost Domestic Oil Production To 1 Million Barrels Per Day

Jul 16, 2020 at 13:43 | Oxford Business Group

Oil production has been in steady decline for much of the past two decades in Indonesia, but the state aims to reverse this trend and achieve…

Canadian Crude Production Falls To 2016 Lows

Canadian Crude Production Falls To 2016 Lows

Jul 16, 2020 at 12:29 | Tsvetana Paraskova

Due to the price and demand crash in the second quarter, Canada’s oil production slumped to 4.4 million barrels per day (bpd) in May – the lowest output since the…

World Biggest Oil Majors Set Collective Goal To Cut Carbon Emissions

World Biggest Oil Majors Set Collective Goal To Cut Carbon Emissions

Jul 16, 2020 at 11:41 | Charles Kennedy

Some of the biggest oil companies in the world set their first joint target to cut their collective carbon emissions from upstream operations in a move that saw Saudi Aramco…

U.S. Threatens New Sanctions On Russian Gas Projects: ‘Get Out Now’

U.S. Threatens New Sanctions On Russian Gas Projects: ‘Get Out Now’

Jul 16, 2020 at 10:38 | Tsvetana Paraskova

The United States has warned companies helping Russia to complete the Nord Stream 2 and the TurkStream 2 natural gas pipelines that they should ‘get out now’ or face consequences,…

Largest California Oil Driller Files for Bankruptcy

Largest California Oil Driller Files for Bankruptcy

Jul 16, 2020 at 09:29 | Irina Slav

California Resources, the largest oil driller in the state, has filed for Chapter 11 bankruptcy protection, becoming the latest casualty of an oil price crash that coincided with the coronavirus…

The Oil Major With The Most COVID-19 Deaths

The Oil Major With The Most COVID-19 Deaths

Jul 15, 2020 at 17:28 | Tsvetana Paraskova

Mexico’s state oil firm Pemex has the highest number of employees who have died of the coronavirus, according to Bloomberg estimates of company data and official statements. On Tuesday,…

Texas County Lures Tesla With $15 Million Tax Breaks

Texas County Lures Tesla With $15 Million Tax Breaks

Jul 15, 2020 at 15:45 | Tsvetana Paraskova

Travis County in Texas voted on Tuesday to give Tesla at least US$14.7 million in tax breaks if it chooses to build its new Gigafactory near Austin, taking another…

Trading Giant Gunvor Raked In Profits During Oil Price Crash

Trading Giant Gunvor Raked In Profits During Oil Price Crash

Jul 15, 2020 at 15:36 | Charles Kennedy

One of the world’s largest independent commodity traders, Gunvor Group, benefited from the oil price crash, booking “substantial earnings” in the second quarter, co-founder and chief executive Torbjörn Törnqvist wrote…

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