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News

UK Oil Sector To Spend $19 Billion On North Sea Decommissioning

UK Oil Sector To Spend $19 Billion On North Sea Decommissioning

Nov 27, 2019 at 12:28 | City A.M

The UK oil and gas industry is set to spend more than £15bn on decommissioning activity in the North Sea over the next decade, as thousands of wells are expected…

Too Little Too Late: Canada Misses The LNG Boom

Too Little Too Late: Canada Misses The LNG Boom

Nov 27, 2019 at 12:27 | Irina Slav

Canada may have missed its chance to become an important player on the global liquefied natural gas market unless it changes its regulatory regime to make building LNG plants easier.…

Investors Are Abandoning “Uninvestable” Oil Service Stocks

Investors Are Abandoning “Uninvestable” Oil Service Stocks

Nov 27, 2019 at 12:26 | ZeroHedge

There have been few sectors dripping with apathy of late quite like the oil services sector.  On Tuesday, The Philadelphia Oil Service Sector Index fell 2% again, adding to a 15%…

Iran Could Have A Nuclear Bomb Within Months

Iran Could Have A Nuclear Bomb Within Months

Nov 27, 2019 at 12:10 | ZeroHedge

The Iranian government is shortening its nuclear breakout time -- the amount of time required to produce enough weapons-grade uranium for a single nuclear weapon. Tehran has accomplished this through several steps…

Conoco Looks To Claim Citgo Assets

Conoco Looks To Claim Citgo Assets

Nov 27, 2019 at 11:27 | Irina Slav

Just a few days after the U.S. Department of Treasury said it will not allow anyone to claim the assets of refiner Citgo as compensation for damages suffered from its…

Retail Investors Are Warming Up To The Aramco IPO

Retail Investors Are Warming Up To The Aramco IPO

Nov 27, 2019 at 09:36 | Julianne Geiger

Saudi Arabia’s IPO for its state-run oil company has reached 24.07 billion Saudi riyals, or US $7.21 billion, according to Reuters, citing the IPO’s lead manager, Samba Capital. The…

Explosion Rocks Texas Refinery, Injures 3 Workers

Explosion Rocks Texas Refinery, Injures 3 Workers

Nov 27, 2019 at 09:24 | Tsvetana Paraskova

An explosion rocked a petroleum product processing plant in Port Neches, some 90 miles east of Houston, early on Wednesday, damaging nearby homes and injuring three workers at the…

Surprise Crude Build Disappoints Oil Bulls

Surprise Crude Build Disappoints Oil Bulls

Nov 26, 2019 at 15:53 | Julianne Geiger

The American Petroleum Institute (API) has estimated a crude oil inventory build of 3.639 million barrels for the week ending November 21, compared to analyst expectations of a 418,000-barrel…

This Oil Nation Is Committing $1.5 Billion To The Aramco IPO

This Oil Nation Is Committing $1.5 Billion To The Aramco IPO

Nov 26, 2019 at 14:15 | Tsvetana Paraskova

Abu Dhabi could invest up to US$1.5 billion in the initial public offering of Saudi Aramco, Bloomberg reported on Tuesday, citing people familiar with the matter. Saudi Arabia now…

Eastern Europe Is Turning Into An Energy Battleground

Eastern Europe Is Turning Into An Energy Battleground

Nov 26, 2019 at 13:40 | RFE/RL staff

Bulgaria has agreed to allow NATO to use its Black Sea port for naval coordination efforts as tensions rise between the Western military alliance and Russia.The agreement was…

The Highly-Anticipated OPEC Meeting Finally Has A Date

The Highly-Anticipated OPEC Meeting Finally Has A Date

Nov 26, 2019 at 13:16 | Tsvetana Paraskova

The Joint Technical Committee (JTC) at OPEC, the body that reviews oil market fundamentals before the cartel’s ministers gather to discuss cuts, will meet in Vienna on the afternoon of…

U.S. Police Promise To Protect Pipelines From

U.S. Police Promise To Protect Pipelines From "Domestic Terrorists"

Nov 26, 2019 at 11:47 | Irina Slav

U.S. law enforcement agencies have prepared plans to respond to any new protests against the controversial Keystone XL pipeline “by any means,” The Guardian reports, citing internal documents. Among…

Iran’s Gasoline Consumption Plunges After Massive Price Hike

Iran’s Gasoline Consumption Plunges After Massive Price Hike

Nov 26, 2019 at 11:08 | Tsvetana Paraskova

Gasoline consumption in Iran dropped to 79 million liters per day in the week following the 50-percent fuel price hike, from an average 98 million liters per day in the…

Pemex Is Still Suffering From Cyberattack Fallout

Pemex Is Still Suffering From Cyberattack Fallout

Nov 26, 2019 at 09:33 | Irina Slav

The communications system of Mexico’s oil giant Pemex is still suffering the lingering effects of a cyberattack that occurred earlier this month, sources from the company told Bloomberg. A…

Renewable Investment Falls In Emerging Markets

Renewable Investment Falls In Emerging Markets

Nov 25, 2019 at 17:52 | Tsvetana Paraskova

New energy investment in emerging economies slipped last year to US$133 billion, far from the 2017 record of US$169 billion, mostly due to a slowdown in China, BloombergNEF said in…

China Pushes Renewables Companies To “Increase Revenue’’

China Pushes Renewables Companies To “Increase Revenue’’

Nov 25, 2019 at 17:45 | Tsvetana Paraskova

China wants its renewable power producers to start making money and boost their revenues with a new proposal to have local energy administrations take into account “fair returns” for clean…

Brazil Aims For $18 Billion From Its Sale Of Key Refinery Assets

Brazil Aims For $18 Billion From Its Sale Of Key Refinery Assets

Nov 25, 2019 at 12:38 | Tsvetana Paraskova

Petrobras is launching the binding phase of the sale of four refineries out of eight that it has earmarked for divestment, the Brazilian state-held energy firm said in a…

Iran Claims To Have Thwarted An Enemy Attack On Oil Assets

Iran Claims To Have Thwarted An Enemy Attack On Oil Assets

Nov 25, 2019 at 11:39 | Tsvetana Paraskova

Iran has foiled an attack on energy facilities in the southern part of the country, and accused its enemies of masterminding the plot in retaliation for the attacks on Saudi…

Ford Stock Climbs On Electric-Mustang Hype

Ford Stock Climbs On Electric-Mustang Hype

Nov 25, 2019 at 10:26 | Metal Miner

For the first time in over half a century, Ford’s Mustang lineup is getting an addition. The electric vehicle revolution continues to build as legacy automakers are making…

Musk Claims Cybertruck Orders Have Surpassed 200,000

Musk Claims Cybertruck Orders Have Surpassed 200,000

Nov 25, 2019 at 09:18 | Irina Slav

A total of 200,000 orders have been placed for Tesla’s latest model, the Cybertruck, which came as a surprise to many not least because of its departure from the Tesla…

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