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News

Iran Calls On ‘Enemies’ To Leave Gulf Or ‘Face Humiliating Exit’

Iran Calls On ‘Enemies’ To Leave Gulf Or ‘Face Humiliating Exit’

Aug 15, 2019 at 16:45 | Tsvetana Paraskova

Hours before the British overseas territory Gibraltar released the Iranian oil tanker detained last month, the commander of the Iranian Navy warned the U.S and the UK to…

Shale Gas Firm Cuadrilla Resumes Fracking In The UK

Shale Gas Firm Cuadrilla Resumes Fracking In The UK

Aug 15, 2019 at 16:36 | Tsvetana Paraskova

Cuadrilla has resumed fracking at a second well at its hydraulic fracturing site in northwest England after it secured all permits to do so, the UK shale gas group

Equinor Starts Up Major $7.7B Oil Field In UK North Sea

Equinor Starts Up Major $7.7B Oil Field In UK North Sea

Aug 15, 2019 at 13:23 | Tsvetana Paraskova

Norwegian energy giant Equinor announced on Thursday first oil from the Mariner oil field in the UK North Sea whose start-up has been delayed twice over the last year…

Petrobras Repays Billions In China Debt Before Term

Petrobras Repays Billions In China Debt Before Term

Aug 15, 2019 at 11:04 | Irina Slav

Petrobras has settled a debt of US$3 billion with the China Development Bank ahead of time and will repay another debt, this one of US$5 billion, in December, ending an…

Koch Exits Canadian Oil Sands

Koch Exits Canadian Oil Sands

Aug 15, 2019 at 09:38 | Irina Slav

Koch Industries has sold its oil sands assets to Canadian Cavalier Energy, the Financial Post reports, noting that the deal closed two months ago. Cavalier is a subsidiary of…

Oil Companies Scared To Get Caught Between U.S. And Venezuela

Oil Companies Scared To Get Caught Between U.S. And Venezuela

Aug 14, 2019 at 17:26 | Julianne Geiger

Foreign oil companies currently doing business with Venezuela’s state-run oil company are growing increasingly nervous about their relationship with PDVSA as the US turns up the heat on

Harsh UK Energy Regs Claims 13th Victim

Harsh UK Energy Regs Claims 13th Victim

Aug 14, 2019 at 15:29 | Tsvetana Paraskova

UK renewable energy supplier Solarplicity says it is ceasing to trade, blaming the harsh regulations in the energy market and increased competition, and becoming the 13th energy supplier…

Value Of Global Oil & Gas Contracts Surges To $42 Billion In Q2

Value Of Global Oil & Gas Contracts Surges To $42 Billion In Q2

Aug 14, 2019 at 13:48 | Tsvetana Paraskova

Large engineering and construction contracts for liquefied natural gas (LNG) projects pushed the total value of contracts in the oil and gas industry surging to US$42 billion in the second…

Iran Aims To Start Oil Exports Bypassing Strait Of Hormuz In 2021

Iran Aims To Start Oil Exports Bypassing Strait Of Hormuz In 2021

Aug 14, 2019 at 12:16 | Tsvetana Paraskova

Iran says it aims to complete by March 2021 a long crude oil pipeline from its northwest deep in the Persian Gulf to a southern terminal east of the…

Production At Giant Mediterranean Gas Field Zohr More Than Triples

Production At Giant Mediterranean Gas Field Zohr More Than Triples

Aug 14, 2019 at 11:06 | Tsvetana Paraskova

Natural gas production from the huge Zohr field in the eastern Mediterranean offshore Egypt more than tripled in the first half of 2019 compared to the same period in 2018,…

China Oil Refinery Throughput Jumps 4% In July

China Oil Refinery Throughput Jumps 4% In July

Aug 14, 2019 at 09:31 | Irina Slav

Refinery throughput in China went up by 4 percent last month, to a total 52.6 million tons, or about 12.44 million bpd, Reuters reports, citing data from the National…

Surprise Crude Build Reverses Earlier Oil Price Gains

Surprise Crude Build Reverses Earlier Oil Price Gains

Aug 13, 2019 at 15:51 | Julianne Geiger

The American Petroleum Institute (API) has estimated a surprise crude oil inventory build of 3.7 million barrels for the week ending Aug 8, compared to analyst expectations of a

Russia Opens Its Doors to Foreign EV Maker in Bold Move

Russia Opens Its Doors to Foreign EV Maker in Bold Move

Aug 13, 2019 at 14:10 | Tsvetana Paraskova

Russia may be close to having a foreign car manufacturer launch electric vehicle (EV) production in the country soon—a move that analysts at IHS Markit described as “bold” considering…

Iran Says UK Might Soon Release Seized Iranian Oil Tanker

Iran Says UK Might Soon Release Seized Iranian Oil Tanker

Aug 13, 2019 at 14:06 | Tsvetana Paraskova

Iran and the UK have exchanged documents and Britain has shown interest in resolving the issue with the Iranian oil tanker it seized in early July, the Islamic Republic News…

Egypt Plans To Boost Oil Production To 690,000 Bpd By Year-End

Egypt Plans To Boost Oil Production To 690,000 Bpd By Year-End

Aug 13, 2019 at 12:15 | Tsvetana Paraskova

Egypt is looking to boost its crude oil and condensate production to 690,000 bpd by the end of the year from the current 630,000 bpd, Egyptian Petroleum Minister Tarek al-Mulla…

China May Ramp Up Gasoline Exports In H2 2019

China May Ramp Up Gasoline Exports In H2 2019

Aug 13, 2019 at 11:03 | JLC

China may ramp up gasoline exports in the second half of 2019 amid a glut of the fuel in its domestic market and higher export quotas, JLC analysts said. China’s…

ExxonMobil Looks To Exit UK North Sea Oil & Gas

ExxonMobil Looks To Exit UK North Sea Oil & Gas

Aug 13, 2019 at 10:49 | Tsvetana Paraskova

ExxonMobil has recently discussed with operators selling part or all of its assets in the UK North Sea in a move that could raise up to US$2 billion for Exxon…

Freeport LNG May Be Ready To Start Exporting

Freeport LNG May Be Ready To Start Exporting

Aug 13, 2019 at 10:14 | Irina Slav

The Freeport LNG plant in Texas may soon be ready to start loading its first LNG cargo, S&P Global Platts reports, after data from its trade flow software cFlow…

Oxy Plans Quick Debt Reduction After Anadarko Takeover

Oxy Plans Quick Debt Reduction After Anadarko Takeover

Aug 13, 2019 at 09:37 | Irina Slav

Occidental will reduce its US$40-billion debt load it used to acquire Anadarko as soon as possible, the company’s chief financial officer said at an industry event, as quoted by…

Iranian Lawmaker Suggests US Is After $200 Oil

Iranian Lawmaker Suggests US Is After $200 Oil

Aug 12, 2019 at 17:58 | Julianne Geiger

An Iranian lawmaker has suggested that the United States is creating insecurity in the Middle East in the hopes of bringing oil prices up to $200 per barrel, according to…

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