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Who Gets Hold Of Russia’s Key Oil Hub?

Who Gets Hold Of Russia’s Key Oil Hub?

25 percent of the Novorossiysk…

Permian Discount Could Rise To $20 Per Barrel

Permian Discount Could Rise To $20 Per Barrel

Midstream constraints plaguing Permian drillers…

Shale CEO: U.S. To Be The World’s Top Oil Producer By Fall

Shale CEO: U.S. To Be The World’s Top Oil Producer By Fall

Pioneer Natural Resources chief Scott…

News

Venezuela Resorts To Refining Imported Oil

Venezuela Resorts To Refining Imported Oil

Jun 14, 2018 at 12:24 | Irina Slav

Venezuela has been forced to start refining imported crude oil as its local production continues to fall. According to a monthly refining plan for June seen by Reuters, the…

China’s Oil Refinery Throughput Rises 8.2% YoY In May

China’s Oil Refinery Throughput Rises 8.2% YoY In May

Jun 14, 2018 at 10:21 | Irina Slav

Chinese refineries processed a daily average of around 12.37 million barrels in May, or 371.34 million barrels (50.66 million tons). This is an 8.2-percent annual increase, according to the country’s…

NY Judge Questions Merit Of Mayor’s Anti-Oil Suit

NY Judge Questions Merit Of Mayor’s Anti-Oil Suit

Jun 14, 2018 at 09:10 | Irina Slav

A federal judge in Manhattan has questioned the lawsuit brought by the city’s mayor Bill de Blasio against Big Oil companies accusing them of being responsible for climate change. The…

BP: Permian Productivity Gains May Have Started To Flatten Out

BP: Permian Productivity Gains May Have Started To Flatten Out

Jun 13, 2018 at 18:11 | Tsvetana Paraskova

Over the past five years, U.S. shale production has seen strong and continuous gains in productivity as improvements were made in fracking technology and general know-how, but the most recent…

Trump Blames OPEC For ‘Too High’ Oil Prices, Again

Trump Blames OPEC For ‘Too High’ Oil Prices, Again

Jun 13, 2018 at 18:02 | Tsvetana Paraskova

U.S. President Donald Trump criticized OPEC for manipulating oil prices for a second time in as many months, calling the cartel out for oil prices that are ‘too high’. Early…

IHS Markit: Stunning Permian Growth To Double Production By 2023

IHS Markit: Stunning Permian Growth To Double Production By 2023

Jun 13, 2018 at 17:07 | Tsvetana Paraskova

The oil production of the biggest U.S. shale play, the Permian, will more than double to 5.4 million bpd in 2023. If it were an OPEC member, the region in…

Challenging Oil Market Drags Trafigura’s Profit Down 53%

Challenging Oil Market Drags Trafigura’s Profit Down 53%

Jun 13, 2018 at 16:31 | Tsvetana Paraskova

One of the world’s biggest commodity traders, Trafigura, reported on Wednesday a 53-percent decline in profit for the six months ending March 31, 2018, as the oil market structure…

Canada Needs New Pipeline To Compete Internationally

Canada Needs New Pipeline To Compete Internationally

Jun 13, 2018 at 13:43 | Irina Slav

Canada’s crude oil production is growing, but pipeline capacity is not, and this is eroding the country’s energy industry competitiveness, the Canadian Association of Petroleum Producers said in the…

China CK Infrastructure Offers $7.8B For Australian Gas Pipeline Operator

China CK Infrastructure Offers $7.8B For Australian Gas Pipeline Operator

Jun 13, 2018 at 12:50 | Irina Slav

Hong Kong-based CK Infrastructure has made a US$7.8-billion (A$13-billion) bid for Australia’s largest gas pipeline operator, APA, the target company said. The price represents a premium of 33 percent…

FERC Throws Wrench Into Trump’s Pro-Coal Plan

FERC Throws Wrench Into Trump’s Pro-Coal Plan

Jun 13, 2018 at 12:45 | Irina Slav

The Federal Energy Regulatory Commission does not see any emergency in the U.S. electricity market, the panel regulating the national grid said at a Senate hearing. The opinion is likely…

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