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News

Brazilian Oil Giant Braces For Strikes Ahead Of $50 Billion Auction

Brazilian Oil Giant Braces For Strikes Ahead Of $50 Billion Auction

Oct 23, 2019 at 17:37 | Julianne Geiger

Brazil’s state-run oil company, Petrobras, is about to get hit with a general strike action from a group representing no fewer than 12 oil worker unions, according to the group’s…

The U.S. Sues California Over Rogue Emissions Deal

The U.S. Sues California Over Rogue Emissions Deal

Oct 23, 2019 at 17:19 | Tsvetana Paraskova

The United States sued on Wednesday the state of California over its cap and trade emissions agreement with Quebec in Canada, arguing that only the federal government has competence…

China Is Desperate To Boost Shale Gas Production

China Is Desperate To Boost Shale Gas Production

Oct 23, 2019 at 16:01 | Tsvetana Paraskova

Faced with rising natural gas and liquefied natural gas (LNG) imports to meet growing demand, China is trying to raise its domestic gas production, including by setting up incentives…

Russia And Saudi Oil Giants Team Up In Africa

Russia And Saudi Oil Giants Team Up In Africa

Oct 23, 2019 at 15:39 | Tsvetana Paraskova

Russia’s second-largest oil producer, Lukoil, is looking at joint oil and gas opportunities with Saudi Aramco in Africa, the Russian firm’s president and CEO Vagit Alekperov said on Wednesday.…

California’s Electric Vehicle Dream Is Turning Into A Nightmare

California’s Electric Vehicle Dream Is Turning Into A Nightmare

Oct 23, 2019 at 14:06 | Julianne Geiger

California might be blazing a trail with getting a large number of electric vehicles on the road, but the only trail California is currently blazing is the wildfire/PG&E fiasco that…

Saudi Offering Smashes Expectations Despite Oil Attacks

Saudi Offering Smashes Expectations Despite Oil Attacks

Oct 23, 2019 at 12:04 | Tsvetana Paraskova

Saudi Arabia’s US$2.5-billion Islamic bond issued on Tuesday attracted orders worth more than US$13 billion in the first international debt issue since the attacks on vital Saudi oil facilities…

Sweden Is Set To Ditch Wind Subsidies

Sweden Is Set To Ditch Wind Subsidies

Oct 23, 2019 at 11:48 | Tsvetana Paraskova

Sweden, the leader in the share of renewable energy use in the European Union (EU), targets to eliminate subsidies for onshore wind farms by the end of 2021, at around…

Russia's Next Nuclear Power Play Is Underway

Russia's Next Nuclear Power Play Is Underway

Oct 23, 2019 at 10:42 | The Jamestown Foundation

On October 3, Azerbaijani President Ilham Aliyev paid an official visit to Russia to attend the 16th annual meeting of the Valdai International Discussion Club, in Sochi (President.az, October 3).…

Russian Oil Boss Speaks Out Against OPEC+ Cuts

Russian Oil Boss Speaks Out Against OPEC+ Cuts

Oct 23, 2019 at 09:07 | Irina Slav

Lukoil’s chief executive Vagit Alekperov has joined Rosneft’s Igor Sechin in voicing his opposition to another extension of the OPEC+ oil production cut agreement, Reuters reports, citing Russian news…

API Reports Yet Another Big Oil Inventory Build

API Reports Yet Another Big Oil Inventory Build

Oct 22, 2019 at 15:53 | Julianne Geiger

The American Petroleum Institute (API) has estimated a crude oil inventory build of 4.45 million barrels for the week ending October 17—compared to analyst expectations of a 2.232-million-barrel build.…

Hundreds Of Jobs Lost As Canadian Energy Giant Slashes Spending

Hundreds Of Jobs Lost As Canadian Energy Giant Slashes Spending

Oct 22, 2019 at 15:36 | Julianne Geiger

Canadian energy giant Husky Energy Inc. (OTCMKTS: HUSKF) has cut staff in a round of layoffs, the company announced on Tuesday. The layoffs, thought to have affected over a hundred…

Is China Facing A Gas Shortage?

Is China Facing A Gas Shortage?

Oct 22, 2019 at 13:51 | Tsvetana Paraskova

The major Chinese oil and gas companies are boosting natural gas supply across the country ahead of the winter heating season, as demand in China continues to grow, although…

Unlikely Oil Region Searches For New Investors

Unlikely Oil Region Searches For New Investors

Oct 22, 2019 at 12:58 | Tsvetana Paraskova

Uganda is currently pitching its vast and underdeveloped oil resources to investors at roadshows around the world, Uganda’s Energy Minister Irene Muloni told Bloomberg Television in an interview in…

Why Did Saudi Arabia Just Issue $2.5 Billion Worth Of Bonds?

Why Did Saudi Arabia Just Issue $2.5 Billion Worth Of Bonds?

Oct 22, 2019 at 10:56 | Tsvetana Paraskova

The world’s top oil exporter, Saudi Arabia, is issuing US$2.5 billion worth of Islamic bonds, or sukuk, on Tuesday, returning to the bond market to take advantage of the low…

U.S. Oil Major Granted Sanctions Waiver For Venezuela

U.S. Oil Major Granted Sanctions Waiver For Venezuela

Oct 22, 2019 at 09:54 | Irina Slav

The U.S. government granted Chevron another three-month extension to a sanction waiver that allowed the supermajor to continue doing business in Venezuela, quenching concerns it would have to up and…

Rescue Operation: 115 Oil Workers Airlifted From Platform

Rescue Operation: 115 Oil Workers Airlifted From Platform

Oct 22, 2019 at 09:28 | Irina Slav

More than 100 workers were airlifted from the Thistle oil platform in the North Sea after an unspecified incident that followed a subsea inspection at the platform, the BBC

World’s Hottest Oil Auction Set To Bring In $50 Billion

World’s Hottest Oil Auction Set To Bring In $50 Billion

Oct 21, 2019 at 17:24 | Julianne Geiger

Brazil’s next oil auction, scheduled for November, may be the best one yet, raking in as much as $50 billion in auction proceeds, Bloomberg sources familiar with the Brazilian…

European Energy Giants Wait On Russia Approval For $2.6 Billion Deal

European Energy Giants Wait On Russia Approval For $2.6 Billion Deal

Oct 21, 2019 at 17:05 | Tsvetana Paraskova

Russia could okay within half a year a deal that would pave the way for Finnish utility Fortum to boost its stake in Germany’s utility Uniper to more than 50…

Supermajors Are Abandoning This Oil Hotspot

Supermajors Are Abandoning This Oil Hotspot

Oct 21, 2019 at 13:54 | Tsvetana Paraskova

Oil majors are quitting two projects in the Caspian Sea in Kazakhstan because of high costs and low profitability, a unit of Kazakhstan’s state oil and gas firm KazMunayGas

Russian Hackers Hijack Iranian Cyber Spy Group

Russian Hackers Hijack Iranian Cyber Spy Group

Oct 21, 2019 at 12:14 | RFE/RL staff

British and U.S. intelligence agencies say Russian hackers hijacked Iran-based cyberspy groups to attack dozens of countries and organizations while pretending to be Iranian.The details of the operation 

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