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Breaking News:

India’s Fuel Demand Jumped 6% in April

Why the IEA is Wrong About Peak Oil Demand

Why the IEA is Wrong About Peak Oil Demand

The International Energy Agency (IEA)…

China-Kazakhstan Trade Hits Record High

China-Kazakhstan Trade Hits Record High

Kazakhstan is experiencing a surge…

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News

Libyan Oilfield Is Offline Again

Libyan Oilfield Is Offline Again

Dec 05, 2019 at 15:11 | Tsvetana Paraskova

For the second time in two weeks, Libya’s El Feel oilfield has been shut down, due to an unlawful closure of a valve on an oil export pipeline, Libya’s National…

Shell Wins Oil Spill Court Case Against Nigeria

Shell Wins Oil Spill Court Case Against Nigeria

Dec 05, 2019 at 12:16 | Tsvetana Paraskova

Shell has won a court ruling that blocks the enforcement of more than a half a billion dollars for damages against the oil supermajor in a decade-old oil spill…

Russia’s Mega-Pipeline Is A Major Threat To This Gas Producer

Russia’s Mega-Pipeline Is A Major Threat To This Gas Producer

Dec 05, 2019 at 10:58 | Eurasianet

Russia’s mega-project to export its gas to China, the Power of Siberia pipeline, came online December 2. By 2024, the pipeline is expected to deliver 38 billion cubic meters (bcm)…

OPEC+ Committee Recommends Further 500,000 Bpd Cut

OPEC+ Committee Recommends Further 500,000 Bpd Cut

Dec 05, 2019 at 10:31 | Tsvetana Paraskova

A ministerial committee of OPEC and its partners led by Russia recommended that the OPEC+ oil production cuts be deepened by 500,000 bpd, two sources told Reuters on the…

Petrochem Plant Gas Forces Texas Town To Evacuate

Petrochem Plant Gas Forces Texas Town To Evacuate

Dec 05, 2019 at 09:08 | Irina Slav

An order for voluntary evacuation was issued for the town of Port Neches in Texas yesterday, after the detection of higher levels of a petroleum derivative gas used in a…

Petrobras To Put More Key Oil Assets Up For Sale

Petrobras To Put More Key Oil Assets Up For Sale

Dec 04, 2019 at 17:37 | Julianne Geiger

Brazil’s state-run oil company, Petroleo Brasileiro SA, hopes to boost its value by nearly 50 percent by 2021, in part by putting more offshore oilfields up for sale. The oil…

Syncrude Cuts Oil Output By More Than 1.5 Million Barrels

Syncrude Cuts Oil Output By More Than 1.5 Million Barrels

Dec 04, 2019 at 17:18 | Julianne Geiger

Canadian oilsands operation Syncrude has reduced its December crude oil production by 1.6 million barrels according to Reuters, citing three market sources. The production cutback was due to a operational…

Russia-Ukraine Fallout Won’t Threaten Security Of EU Gas Supply

Russia-Ukraine Fallout Won’t Threaten Security Of EU Gas Supply

Dec 04, 2019 at 16:44 | Tsvetana Paraskova

Even if Russia and Ukraine were to fail to reach an agreement on the natural gas transit through Ukraine onto Europe, the security of gas supply in the European Union…

Trans Mountain Pipeline Makes Landmark Step Forward

Trans Mountain Pipeline Makes Landmark Step Forward

Dec 04, 2019 at 16:41 | Tsvetana Paraskova

The controversial Trans Mountain pipeline expansion project made a landmark step forward with the start of construction in Alberta on Tuesday, two weeks before a federal court of appeal…

Pirates Hijack Fully Loaded Supertanker Off Nigeria

Pirates Hijack Fully Loaded Supertanker Off Nigeria

Dec 04, 2019 at 12:52 | ZeroHedge

A gang of pirates have kidnapped 19 sailors after waylaying then boarding a supertanker loaded with oil, according to various media reports. Hong Kong-flagged crude supertanker the Nave Constellation, owned…

China’s Higher EVs Sales Target Will Likely Be A Huge Challenge

China’s Higher EVs Sales Target Will Likely Be A Huge Challenge

Dec 04, 2019 at 11:43 | Tsvetana Paraskova

China is looking to raise its target to have new energy vehicles (NEVs) account for 25 percent of all car sales in 2025, up from a previous target of ‘over…

Moody’s Cuts Alberta Rating Citing Overdependence On Oil

Moody’s Cuts Alberta Rating Citing Overdependence On Oil

Dec 04, 2019 at 10:35 | Irina Slav

Moody’s cut Alberta’s credit rating to Aa2 from Aa1, citing the province’s reliance on revenues from the oil industry. However, the credit ratings agency upgraded Alberta’s outlook from negative…

Two Citgo Boards Fight Over $57M On Stranded Oil Tanker

Two Citgo Boards Fight Over $57M On Stranded Oil Tanker

Dec 04, 2019 at 09:24 | Irina Slav

The two boards of Venezuela-owned refiner Citgo are fighting over the ownership of $57 million worth of crude oil stranded at sea, Reuters reports, adding the amount of oil in…

Oil Rises After API Reports Larger Than Expected Crude Draw

Oil Rises After API Reports Larger Than Expected Crude Draw

Dec 03, 2019 at 15:47 | Julianne Geiger

The American Petroleum Institute (API) has estimated a crude oil inventory draw of 3.72 million barrels for the week ending November 28, compared to analyst expectations of a 1.798-million-barrel…

Norway’s $1.1T Fund Removes Petrobras From Corruption Watchlist

Norway’s $1.1T Fund Removes Petrobras From Corruption Watchlist

Dec 03, 2019 at 13:45 | Tsvetana Paraskova

Norway’s US$1.1-trillion Government Pension Fund Global—the world’s largest sovereign wealth fund—is removing Brazil’s state-controlled oil firm Petrobras from its watchlist

This Nation Could Soon See Its First Offshore Oil

This Nation Could Soon See Its First Offshore Oil

Dec 03, 2019 at 13:05 | Tsvetana Paraskova

Woodside Petroleum, operator of the Sangomar block offshore Senegal, has submitted the development plan for what would be the West African country’s first offshore oilfield, paving the way for a…

Canada Premiers Want Fiscal Reforms For Oil Provinces

Canada Premiers Want Fiscal Reforms For Oil Provinces

Dec 03, 2019 at 12:40 | Irina Slav

Canada’s premiers agreed to call on the government to reform a fiscal stabilization program that financially supports provinces going through hard…

Halliburton Slashes 800 Oklahoma Jobs As Shale Slowdown Bites

Halliburton Slashes 800 Oklahoma Jobs As Shale Slowdown Bites

Dec 03, 2019 at 12:04 | Tsvetana Paraskova

Oilfield services provider Halliburton has notified the Oklahoma Office of Workforce Development that it would dismiss 800 employees, the Oklahoma agency’s spokesman David Crow tells The Associated Press, as…

Pipeline Crisis Forces Canadian Oil Giants To Cut Spending

Pipeline Crisis Forces Canadian Oil Giants To Cut Spending

Dec 03, 2019 at 10:15 | Irina Slav

Two of Canada’s largest oil sands producers, Husky Energy and Suncor, had some bad news for investors this week. Husky said it will slash capital spending for next year…

This Oil Major Just Pledged Net Zero Emissions By 2050

This Oil Major Just Pledged Net Zero Emissions By 2050

Dec 03, 2019 at 09:41 | Irina Slav

Repsol, the Spanish energy major, has pledged that it will become a net zero emitter by 2050, boasting that this made it the first oil and gas company to…

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