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News

Saudi Arabia Advances Nuclear Power Agenda

Saudi Arabia Advances Nuclear Power Agenda

Sep 08, 2020 at 13:38 | Irina Slav

Saudi Arabia has scored the support of the International Atomic Energy Agency in its effort to adopt nuclear energy, Reuters reports, quoting a Saudi TV channel that cited the…

Exxon Makes 18th Oil Discovery Offshore Guyana

Exxon Makes 18th Oil Discovery Offshore Guyana

Sep 08, 2020 at 11:45 | Charles Kennedy

ExxonMobil said on Tuesday it had made its 18th oil discovery offshore Guyana, which adds to its previous estimate of more than 8 billion barrels of discovered recoverable resources…

More Electricity Outages Threaten Californians

More Electricity Outages Threaten Californians

Sep 08, 2020 at 10:27 | Irina Slav

Less than a month after California utilities barely prevented planned outages amid a heatwave that led to a boom in power consumption, the threat is back: PG&E said late yesterday…

Japan Tried To Broker Oil Barter Deal Between Iran, U.S.

Japan Tried To Broker Oil Barter Deal Between Iran, U.S.

Sep 08, 2020 at 09:26 | Michael Kern

The Japanese government tried to melt the freeze between Washington and Tehran by proposing a swap deal involving Iranian oil and U.S. grain, Kyodo reports, citing unnamed government sources.…

COVID-19 Forces Libyan Oil Companies To Halt Operations

COVID-19 Forces Libyan Oil Companies To Halt Operations

Sep 08, 2020 at 08:30 | Julianne Geiger

Two of Libya’s National Oil Company affiliates on Monday sent some oil workers home and halted some work due to the spread of Covid-19, according to a NOC statement. Libya’s…

Fire Erupts Again On Oil Tanker Off Sri Lanka

Fire Erupts Again On Oil Tanker Off Sri Lanka

Sep 07, 2020 at 17:36 | Tsvetana Paraskova

A new fire has erupted on the fully loaded oil tanker offshore Sri Lanka, due to extreme temperatures and high winds, the Sri Lanka Navy said on Monday, days…

UK Risks Blackouts Warns Grid Operator

UK Risks Blackouts Warns Grid Operator

Sep 07, 2020 at 17:01 | Charles Kennedy

The UK’s National Grid said on Monday that proposed new rules of energy company investments in the networks reduce the reliability and resilience of the electricity supply in the…

New Tax Rule Could Cost Russian Fuel Oil Exporters $1B Annually

New Tax Rule Could Cost Russian Fuel Oil Exporters $1B Annually

Sep 07, 2020 at 14:23 | Tsvetana Paraskova

A new export tax rule in Russia could cost domestic exporters of fuel oil as much as US$1 billion in missed sales every year, Reuters has estimated.   Russia…

Russia Says It Complied Nearly 100% With OPEC+ Oil Deal

Russia Says It Complied Nearly 100% With OPEC+ Oil Deal

Sep 07, 2020 at 13:35 | Tsvetana Paraskova

Russia complied nearly 100 percent with its share of oil production cuts in August as per the OPEC+ deal, Russian Energy Minister Alexander Novak said on Monday. Independent assessments…

The Energy Jobs Gen Z Actually Want

The Energy Jobs Gen Z Actually Want

Sep 07, 2020 at 13:12 | Michael Kern

Fossil fuels are out. At least according to the younger generations. Neither millennials nor their up-and-coming counterparts, the zoomers, or Gen Z, are particularly interested in working in…

Total Ditches Environmentally Sensitive Brazilian Oil Blocks

Total Ditches Environmentally Sensitive Brazilian Oil Blocks

Sep 07, 2020 at 11:57 | Charles Kennedy

French supermajor Total is giving up operatorship of five exploration blocks offshore Brazil in an environmentally sensitive area for which it has failed to secure drilling permits numerous times. Total…

Libya Experiences More Blackouts As Oil Ports Remain Blocked

Libya Experiences More Blackouts As Oil Ports Remain Blocked

Sep 07, 2020 at 10:41 | Tsvetana Paraskova

Libya's central and southern regions experienced a major power outage on Thursday, the state General Electricity Company of Libya (GECOL) said on Friday, while Libya's oil terminals remain blocked for…

Iraq To Boost Refinery Capacity

Iraq To Boost Refinery Capacity

Sep 07, 2020 at 09:35 | Charles Kennedy

Iraq plans to increase the processing capacity of its Qayara refinery in the northern part of the country to 90,000 bpd, Argus Media reported. Currently, the capacity of the…

Oil Major Total, Carmaker PSA Set Up $6B EV Battery Venture

Oil Major Total, Carmaker PSA Set Up $6B EV Battery Venture

Sep 04, 2020 at 16:45 | Tsvetana Paraskova

Supermajor Total continues to invest in clean energy by creating a joint venture with automaker Groupe PSA to manufacture batteries for electric vehicles in Europe—a project expected to mobilize investment…

Russia Expects Oil Demand To Drop By 10 Million Bpd In 2020

Russia Expects Oil Demand To Drop By 10 Million Bpd In 2020

Sep 04, 2020 at 14:46 | Tsvetana Paraskova

Global oil demand is expected to decline by 9 million bpd-10 million bpd this year, Russia's Energy Minister Alexander Novak said on Friday.   The estimate is more pessimistic…

Mexico Shuts The Door To Foreign Oil Companies

Mexico Shuts The Door To Foreign Oil Companies

Sep 04, 2020 at 11:41 | Irina Slav

There will be no new exploration and production contracts on the table for private or foreign companies in Mexico under a government plan set to be made public soon. “We…

UK To Review North Sea Oil Licensing Policy

UK To Review North Sea Oil Licensing Policy

Sep 04, 2020 at 11:01 | Michael Kern

The UK will review its current licensing policy for oil and gas exploration in the North Sea to have it aligned to the country’s ambition to achieve net-zero emissions by…

Aramco Workers Head Back To The Office

Aramco Workers Head Back To The Office

Sep 04, 2020 at 09:32 | Charles Kennedy

Aramco’s staff, who have been working from home during the worst of the pandemic, have started returning to offices and work sites, Bloomberg reports, adding some 75 percent of…

Mexico Could Be Forced To Cut Oil Production Target For 2021

Mexico Could Be Forced To Cut Oil Production Target For 2021

Sep 03, 2020 at 17:19 | Julianne Geiger

Mexico will likely cut its crude oil production targets for next year, according to Bloomberg, citing a ruling party lawmaker in Mexico. The shift in strategy signals that Mexico’s state-run…

U.S. Sanctions More Companies For Illegally Trading Oil With Iran

U.S. Sanctions More Companies For Illegally Trading Oil With Iran

Sep 03, 2020 at 17:04 | Julianne Geiger

The United States has added more entities to its sanctions list for actions that it said violated current sanctions on Iran that seek to limit its oil trade, according to…

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