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News

California Restaurants Sue Berkeley Over Nat Gas Ban

California Restaurants Sue Berkeley Over Nat Gas Ban

Nov 22, 2019 at 16:37 | Tsvetana Paraskova

The California Restaurant Association (CRA) sued on Thursday the City of Berkeley over a ban on the use of natural gas in newly built buildings, in order to protect…

Kurdistan Could Soon Start Shipping 250,000 Bpd Of Crude To Baghdad

Kurdistan Could Soon Start Shipping 250,000 Bpd Of Crude To Baghdad

Nov 22, 2019 at 14:20 | Tsvetana Paraskova

The semi-autonomous Iraqi region of Kurdistan may begin deliveries by early next year of around 250,000 bpd of crude oil to the federal government in Baghdad for exports, Iraqi Oil…

Petronas Deals Blow To Aramco: Won’t Buy Shares

Petronas Deals Blow To Aramco: Won’t Buy Shares

Nov 22, 2019 at 12:21 | Irina Slav

Malaysia’s state oil company Petronas, which Aramco was courting as a large investor in its upcoming initial public offering, has decided against the investment. “Petronas would like to confirm that…

Oil Major Faces Off Against Papua Government

Oil Major Faces Off Against Papua Government

Nov 22, 2019 at 11:59 | Irina Slav

Papua New Guinea’s oil minister has accused Exxon of refusing to negotiate a $13-billion LNG project on the country’s government’s terms, Reuters reports, citing the official as saying the…

U.S. Treasury: Citgo Assets Won’t Be Claimed

U.S. Treasury: Citgo Assets Won’t Be Claimed

Nov 22, 2019 at 10:30 | Irina Slav

The U.S. Department of Treasury has blocked any attempts by PDVSA compensation claimants and creditors to get their hands on the Venezuelan company’s U.S. subsidiary, banning all moves to “transfer…

Canada’s Railway Strike To Cause Billions In Damage, Create Fuel Shortages

Canada’s Railway Strike To Cause Billions In Damage, Create Fuel Shortages

Nov 22, 2019 at 09:31 | Tsvetana Paraskova

Crude-by-rail shipments from Canada’s oil-rich province Alberta have nearly halted, while other provinces face critical shortages of propane, as the strike at Canadian National Railway drags on for a fourth…

OPEC+ May Extend Output Cut Deal Until June 2020

OPEC+ May Extend Output Cut Deal Until June 2020

Nov 21, 2019 at 16:59 | Tsvetana Paraskova

OPEC and its Russia-led non-OPEC partners in the production cut deal may roll over in early December the current cuts into June 2020, as Russia will likely support the cartel’s…

Aramco IPO Raises $20 Billion In Orders

Aramco IPO Raises $20 Billion In Orders

Nov 21, 2019 at 16:40 | Julianne Geiger

The Saudi Aramco IPO has garnered $19.47 billion (73 billion riyals)  in institutional and retail orders so far, Saudi Arabia’s  Samba Financial Group reported on Thursday afternoon, according to…

The U.S. Just Approved Four More LNG Projects

The U.S. Just Approved Four More LNG Projects

Nov 21, 2019 at 16:19 | Tsvetana Paraskova

The U.S. Federal Energy Regulatory Commission (FERC) approved on Thursday another four liquefied natural gas (LNG) projects, which will add to the growing American LNG exports in coming years.…

Supermajor Looks To Dump $25 Billion In Oil And Gas Assets

Supermajor Looks To Dump $25 Billion In Oil And Gas Assets

Nov 21, 2019 at 16:02 | Tsvetana Paraskova

U.S. supermajor ExxonMobil is considerably increasing its asset sales program, expecting to shed oil and gas assets in Asia, Europe, and Africa worth up to US$25 billion, in order to…

U.S. Regulators Race To Save $20 Billion Of Oil & Gas Resources

U.S. Regulators Race To Save $20 Billion Of Oil & Gas Resources

Nov 21, 2019 at 14:07 | Tsvetana Paraskova

The U.S. federal agencies regulating offshore leases are considering granting royalty relief to new oil and gas drilling in shallow waters in the Gulf of Mexico, in a bid to…

UK Oil Sector May Be Hit With More Taxes

UK Oil Sector May Be Hit With More Taxes

Nov 21, 2019 at 12:30 | Tsvetana Paraskova

Shares in UK-listed oil companies slumped on Thursday as Britain’s main opposition party, the Labour Party, vowed to increase taxes on the sector in a pledge for a greener economy,…

Maduro Pledges 30 Million Barrels Of Oil To Back Shaky Cryptocurrency

Maduro Pledges 30 Million Barrels Of Oil To Back Shaky Cryptocurrency

Nov 21, 2019 at 11:19 | Irina Slav

Venezuela will use some 30 million barrels of oil it has in storage as backing for its national cryptocurrency, the petro, Reuters reports, citing a speech by President Nicolas…

Alberta Premier: Oil Cuts Could End Earlier

Alberta Premier: Oil Cuts Could End Earlier

Nov 21, 2019 at 09:35 | Irina Slav

Alberta’s crude oil production cuts, scheduled to last until the end of 2020 could end a month earlier, Premier Jason Kenney said in an interview with Reuters. “We hope…

EIA Predicts Higher Oil Prices And A Jump In U.S. Production

EIA Predicts Higher Oil Prices And A Jump In U.S. Production

Nov 21, 2019 at 09:27 | Tsvetana Paraskova

In its latest Short-Term Energy Outlook (STEO), published this month, the EIA revised up its forecast of U.S. crude oil production by 30,000 bpd, or by 0.2 percent, from the…

Did Qatar Know About The Saudi Oil Attacks In Advance?

Did Qatar Know About The Saudi Oil Attacks In Advance?

Nov 20, 2019 at 17:14 | Julianne Geiger

A leaked US intelligence report is making its rounds suggesting that Qatar knew ahead of time that Iran would attack four tankers in the Gulf of Oman in May, yet…

Russia To Ask OPEC To Tweak Output Cut Deal

Russia To Ask OPEC To Tweak Output Cut Deal

Nov 20, 2019 at 15:29 | Tsvetana Paraskova

Russia needs to discuss with its OPEC partners the exclusion of gas condensate from its cap under the OPEC+ production cut pact, as condensate isn’t exported, while it is included…

China’s Hunger For Coal Is Growing

China’s Hunger For Coal Is Growing

Nov 20, 2019 at 12:58 | Tsvetana Paraskova

For the first time since the Chinese coal plant construction frenzy began in the 1980s, the total coal-fired capacity outside China has shrunk over the past 18 months as China…

Russian Oil Boss: OPEC+ Won't Decide On Output Cuts Before 2020

Russian Oil Boss: OPEC+ Won't Decide On Output Cuts Before 2020

Nov 20, 2019 at 11:19 | Tsvetana Paraskova

Vagit Alekperov, the chief executive of the second-biggest Russian oil producer, Lukoil, expects OPEC and its Russia-led non-OPEC partners to decide next March whether to roll over the production…

China Slashes Renewable Subsidies

China Slashes Renewable Subsidies

Nov 20, 2019 at 10:31 | Irina Slav

China will cut the total size of its renewable power subsidies to $806.5 million (5.67 billion yuan) next year, from $1.15 billion (8.1 billion yuan) for this year, Reuters

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