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Oil Demand Likely To Surprise To The Upside

Oil Demand Likely To Surprise To The Upside

Commodity analysts at Standard Chartered…

Fossil Fuel Companies Face Mounting Legal Challenges

Fossil Fuel Companies Face Mounting Legal Challenges

Lawsuits against big oil companies…

News

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…

Ecuador May Not Quit OPEC After All

Ecuador May Not Quit OPEC After All

Dec 02, 2019 at 17:40 | Julianne Geiger

Ecuador may renege on its decision to quit its OPEC membership, according to anonymous sources cited by S&P Global Platts, which was supposed to take effect January 1, 2020.…

Exploration Giant Sees Stock Price Plunge On Disappointing Results

Exploration Giant Sees Stock Price Plunge On Disappointing Results

Dec 02, 2019 at 16:37 | Julianne Geiger

Investors who had risked much on Apache Corporation (NYSE: APA), holding out hope for a major payday in Suriname were disappointed on Monday as the company’s stock tumbled 13% to…

Canadian Drillers To Boost Crude By Rail Shipments

Canadian Drillers To Boost Crude By Rail Shipments

Dec 02, 2019 at 13:07 | Tsvetana Paraskova

Due to continued shortage of oil pipelines to take Canada’s oil to markets, Canadian producers plan to remove diluents from their oil sands production so they can load more of…

Israel’s Largest Gas Field To Begin Production Within Weeks

Israel’s Largest Gas Field To Begin Production Within Weeks

Dec 02, 2019 at 11:36 | Tsvetana Paraskova

Israel’s biggest natural gas field, Leviathan, is set to begin gas supply to the local market within three weeks and start exports to Egypt and Jordan shortly after that,…

Saudis Cap Aramco Stock To Prevent Market Meltdown

Saudis Cap Aramco Stock To Prevent Market Meltdown

Dec 02, 2019 at 10:18 | Irina Slav

The Saudi stock exchange Tadawul has introduced a 15-percent cap on any stock’s weight in its equity index to avoid Aramco overweighting the index when it lists later this month.…

Russia’s $400 Billion Pipeline Project Launches Today

Russia’s $400 Billion Pipeline Project Launches Today

Dec 02, 2019 at 09:29 | Irina Slav

The presidents of Russia and China will today officially inaugurate the Power of Siberia natural gas pipeline that will eventually deliver 38 billion cubic meters annually to China, with…

Natural Gas Prices Crash On Warm Weather Warnings

Natural Gas Prices Crash On Warm Weather Warnings

Nov 29, 2019 at 16:26 | Julianne Geiger

Spot prices for natural gas fell sharply on Friday as forecasts for warm weather spooked traders who were hoping for increased demand heading into what is normally cold season in…

Chinese And Emirati Firms To Bid On Brazilian Refineries

Chinese And Emirati Firms To Bid On Brazilian Refineries

Nov 29, 2019 at 16:17 | Tsvetana Paraskova

China’s oil giant Sinopec, Abu Dhabi’s Mubadala Investment Company and two Brazilian firms including a joint venture of Shell, have been picked to submit binding bids for four refineries that…

Maduro Spent $5 Billion On Oil Deals As Venezuelans Went Hungry

Maduro Spent $5 Billion On Oil Deals As Venezuelans Went Hungry

Nov 29, 2019 at 15:34 | Tsvetana Paraskova

Nicolas Maduro’s regime in Venezuela has spent US$5 billion worth of oil to reduce its debt to Russia and China and to send oil to Cuba, while leaving Venezuelans without…

Saudi Aramco’s IPO Oversubscribed, Reels In $44 Billion

Saudi Aramco’s IPO Oversubscribed, Reels In $44 Billion

Nov 29, 2019 at 13:34 | Tsvetana Paraskova

Saudi Arabia’s oil giant Aramco has attracted total bids of US$44.3 billion for its initial public offering—or 1.7 times the money the Kingdom hopes to raise with the world’s…

45 Killed As Protests In OPEC’s Second-Largest Producer Escalate

45 Killed As Protests In OPEC’s Second-Largest Producer Escalate

Nov 29, 2019 at 10:10 | Tsvetana Paraskova

At least 45 people were killed by security forces in Iraq on Thursday on the deadliest day since mass protests in OPEC’s second-largest oil producer began in early October.…

This OPEC Member Is Desperate For More Foreign Investment

This OPEC Member Is Desperate For More Foreign Investment

Nov 29, 2019 at 09:45 | Tsvetana Paraskova

Algeria is amending its energy law in a bid to attract foreign investment into its oil and gas industry, months after international majors suspended talks about new projects amid mass…

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