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News

Low-Carbon Projects Are A Priority For Oil Companies In 2020

Low-Carbon Projects Are A Priority For Oil Companies In 2020

Jan 21, 2020 at 10:36 | Irina Slav

A growing number of oil companies will boost their investments in low-carbon projects this year as they focus on lowering their carbon footprint, a survey from Norwegian DNV GL…

Nigeria’s NNPC Suffered More Than 45,000 Oil Pipeline Breaks Over 18 Years

Nigeria’s NNPC Suffered More Than 45,000 Oil Pipeline Breaks Over 18 Years

Jan 21, 2020 at 10:31 | Tsvetana Paraskova

The Nigerian National Petroleum Corporation (NNPC) reported as many as 45,347 incidents of breaches on its oil pipelines between 2001 and mid-2019, the corporation’s managing director Mele Kyari said…

South Korea To Send Anti-Piracy Ship To Strait of Hormuz

South Korea To Send Anti-Piracy Ship To Strait of Hormuz

Jan 21, 2020 at 09:43 | Irina Slav

South Korea will send a navy ship to the Strait of Hormuz in response to a request from the United States to help guard tanker traffic through the world’s biggest…

Alberta’s Oil And Gas Company Tax Debt Balloons To Double The Size

Alberta’s Oil And Gas Company Tax Debt Balloons To Double The Size

Jan 20, 2020 at 17:47 | Julianne Geiger

Tough times are continuing for Alberta’s oil and gas country, with the amount of unpaid property taxes that oil and gas companies owe to Alberta towns has more than doubled…

IMF Cuts Saudi Arabia’s Growth Outlook Due To OPEC+ Oil Cuts

IMF Cuts Saudi Arabia’s Growth Outlook Due To OPEC+ Oil Cuts

Jan 20, 2020 at 17:34 | Tsvetana Paraskova

Saudi Arabia’s economy is expected to grow by 1.9 percent this year, the International Monetary Fund (IMF) said on Monday, revising down its forecast of 2.2-percent growth from just…

Guyana Officially Becomes Oil Exporter

Guyana Officially Becomes Oil Exporter

Jan 20, 2020 at 15:44 | Julianne Geiger

The world’s newest oil frontier, Guyana, has officially shipped its very first batch of crude oil on Monday, according to TankerTrackers.com—a major oil-first for the South American country. The first…

Somalia Invites Turkey To Explore For Offshore Oil

Somalia Invites Turkey To Explore For Offshore Oil

Jan 20, 2020 at 12:51 | Tsvetana Paraskova

Somalia has invited Turkey to carry out offshore oil exploration works in the territorial waters of the African country, Turkish President Recep Tayyip Erdogan said on Monday, as reported…

At Least Five Dead In Nigerian Oil Pipeline Explosion

At Least Five Dead In Nigerian Oil Pipeline Explosion

Jan 20, 2020 at 12:08 | Tsvetana Paraskova

At least five people died and dozens of others were rushed to hospital late on Sunday after an oil pipeline exploded in Nigeria in a blast that the authorities believe…

U.S. Extends Chevron Venezuela Sanction Waiver

U.S. Extends Chevron Venezuela Sanction Waiver

Jan 20, 2020 at 10:00 | Irina Slav

The United States Treasury Department granted Chevron another three-month sanction waiver to continue operating in Venezuela, Reuters reported Sunday, with the expiry date of this latest extension set for…

Protests Halt Production At Iraqi Oil Field

Protests Halt Production At Iraqi Oil Field

Jan 20, 2020 at 09:32 | Irina Slav

Escalating protests in Iraq have led to a halt in production at the Al Ahdab oil field, which pumps some 70,000 bpd, Bloomberg reports, citing an unnamed source from…

Huge New Field Sends Norway’s Oil Production To 9-Year-High

Huge New Field Sends Norway’s Oil Production To 9-Year-High

Jan 17, 2020 at 16:32 | Tsvetana Paraskova

The start-up of the massive Johan Sverdrup oilfield sent Norway’s oil production rising to a nine-year high in December 2019, beating the authorities’ forecast by 12.7 percent, data from the…

France Helps Saudi Arabia Protect Oil Facilities From New Attacks

France Helps Saudi Arabia Protect Oil Facilities From New Attacks

Jan 17, 2020 at 16:29 | Tsvetana Paraskova

France has deployed a radar system on Saudi Arabia’s eastern coast that faces the Persian Gulf to help the Kingdom protect its vital oil infrastructure, which was hit by attacks…

US Oil Production To Grow While Energy Emissions Are Set To Drop 

US Oil Production To Grow While Energy Emissions Are Set To Drop 

Jan 17, 2020 at 13:21 | Tsvetana Paraskova

While U.S. crude oil production is set to continue to rise, energy-related carbon dioxide (CO2) emissions in America are expected to have dropped last year and to continue falling through…

Japanese Only Operational Nuclear Reactor Shut, Increasing Fuel Costs

Japanese Only Operational Nuclear Reactor Shut, Increasing Fuel Costs

Jan 17, 2020 at 12:52 | Tsvetana Paraskova

A Japanese high court has ordered local utility Shikoku Electric Power Company to continue idling its only operational nuclear reactor until the company provides a satisfactory proof that the…

Angola Set To Finally Boost Its Oil Production

Angola Set To Finally Boost Its Oil Production

Jan 17, 2020 at 11:47 | Tsvetana Paraskova

After years of declines in crude oil production, one of OPEC’s largest African producers, Angola, is finally about to see its production rising in the coming years, with several new…

Gas Deliveries At Sabine Pass LNG Plant Fall Due of Fog

Gas Deliveries At Sabine Pass LNG Plant Fall Due of Fog

Jan 17, 2020 at 10:27 | Irina Slav

A dense fog in the area of the Sabine Pass LNG facility in Louisiana has suffered reduced supplies of natural gas and limited tanker movement, S&P Global Platts reports,…

Trans Mountain Expansion Scores Big Win In Court

Trans Mountain Expansion Scores Big Win In Court

Jan 17, 2020 at 09:50 | Irina Slav

Canada’s Supreme Court has dismissed an appeal by British Columbia that aimed to stop work on the controversial Trans Mountain pipeline expansion project, Bloomberg reports, adding that the decision…

India May Significantly Boost U.S. Oil Imports

India May Significantly Boost U.S. Oil Imports

Jan 16, 2020 at 15:34 | Tsvetana Paraskova

India and the United States will discuss India’s energy security and the Asian country buying increased volumes of U.S. crude oil when U.S. President Donald Trump and Indian Prime Minister…

Number Of DUC Wells Plunges In Latest Sign Of Shale Distress

Number Of DUC Wells Plunges In Latest Sign Of Shale Distress

Jan 16, 2020 at 12:15 | Tsvetana Paraskova

Over the past six months, the number of drilled but uncompleted (DUC) wells across the U.S. shale patch has been steadily declining in a fresh sign that shale producers have…

IEA: There Won’t Be A Low-Sulfur Fuel Oil Crisis

IEA: There Won’t Be A Low-Sulfur Fuel Oil Crisis

Jan 16, 2020 at 11:43 | Tsvetana Paraskova

Supply of shipping fuels compliant with the stricter, low-sulfur, regulations are growing at a fast pace and are at adequate levels at the key hubs around the world, the International…

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