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News

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…

Why Russia Wants To Renegotiate The OPEC+ Deal

Why Russia Wants To Renegotiate The OPEC+ Deal

Nov 29, 2019 at 09:13 | Tsvetana Paraskova

Russian oil companies prefer to keep their production restriction quotas until March, when the current OPEC+ cuts expire, and discuss an extension then, signaling that Russian producers don’t want deeper…

Leading Rare Earth Miner Looks To Seal Mega Deal In The U.S.

Leading Rare Earth Miner Looks To Seal Mega Deal In The U.S.

Nov 27, 2019 at 13:48 | MINING.com

Australian rare earths miner Lynas Corp (ASX: LYC) and its United States-based partner Blue Line Corporation are fine-tuning funding plans to build a rare earths plant in Hondo, Texas. Lynas, which controls…

Tourism Is Forcing Mexico To Build Another Natural Gas Pipeline

Tourism Is Forcing Mexico To Build Another Natural Gas Pipeline

Nov 27, 2019 at 13:38 | Tsvetana Paraskova

Mexico plans to shortly launch a tender for the construction of a natural gas pipeline between the Tuxpan port on the eastern coast to Cancun and Merida…

Shale Slowdown Continues As Oil Rig Count Falls Again

Shale Slowdown Continues As Oil Rig Count Falls Again

Nov 27, 2019 at 12:55 | Julianne Geiger

The US oil and gas rig count continued to fall this week, according to Baker Hughes, falling by 1 rig for the week. For oil rigs, this week marks the…

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…

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