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News

Aramco Delays Some Oil Loadings For PetroChina After Attacks

Aramco Delays Some Oil Loadings For PetroChina After Attacks

Sep 17, 2019 at 11:25 | Tsvetana Paraskova

Saudi Arabia’s state oil giant Aramco has told PetroChina that some loadings of light crude oil for October would be delayed up by to around 10 days, after the attacks…

Oil Production In Joint Saudi-Kuwaiti Fields Could Restart “Relatively Quickly”

Oil Production In Joint Saudi-Kuwaiti Fields Could Restart “Relatively Quickly”

Sep 17, 2019 at 09:34 | Irina Slav

Chevron could restart oil production from the so-called partitioned zone between Saudi Arabia and Kuwait “relatively quickly”, chief executive Michael Wirth told CNBC in an interview. Chevron has an…

Russia’s Energy Minister: Global Oil Stocks Can Cover Saudi Supply Gap

Russia’s Energy Minister: Global Oil Stocks Can Cover Saudi Supply Gap

Sep 16, 2019 at 16:53 | Tsvetana Paraskova

Global commercial oil inventories will be enough to cover a potential deficit on the oil market following the attacks on key oil infrastructure in Saudi Arabia, Russian Energy Minister…

Investors On Edge As Attacks Highlight Aramco IPO Risks

Investors On Edge As Attacks Highlight Aramco IPO Risks

Sep 16, 2019 at 16:44 | Tsvetana Paraskova

The weekend attacks on key oil infrastructure in Saudi Arabia have investors anxious as the Kingdom has just accelerated plans to list Saudi Aramco in what would be the world’s…

Saudis To Buyers: You’ll Get Your Oil Volumes Despite Attack

Saudis To Buyers: You’ll Get Your Oil Volumes Despite Attack

Sep 16, 2019 at 16:39 | Tsvetana Paraskova

Saudi Arabia’s state oil giant Aramco has informed some of its major Asian customers that they would receive all the oil supply they had contracted—although lighter grades would likely be…

U.S. “Locked and Loaded” In Response To Saudi Oilfield Attack

U.S. “Locked and Loaded” In Response To Saudi Oilfield Attack

Sep 16, 2019 at 13:22 | Irina Slav

The U.S. is ready to act in response to a drone attack on a Saudi oilfield that slashed the Kingdom’s output and pushed prices higher but is awaiting verification on…

Saudis Shut Arab Light Oil Pipeline To Bahrain After Attacks

Saudis Shut Arab Light Oil Pipeline To Bahrain After Attacks

Sep 16, 2019 at 12:10 | Tsvetana Paraskova

Saudi Arabia has shut down its 230,000 bpd pipeline carrying Arab Light crude to Bahrain, after this weekend’s attacks took 5.7 million bpd of Saudi oil production—mostly light grades—offline, Reuters…

Chinese Oil Futures Rally On Saudi Attacks

Chinese Oil Futures Rally On Saudi Attacks

Sep 16, 2019 at 10:47 | JLC

The prices of China’s crude futures and refined oil surged on Monday as Chinese independent refiners are grappling with rising costs as a direct result of Saturday’s

Trump Authorizes Release From Strategic Petroleum Reserve

Trump Authorizes Release From Strategic Petroleum Reserve

Sep 16, 2019 at 09:19 | Irina Slav

Following the news of a drone attack on a Saudi oilfield, which sparked concern about global supply security, President Trump said he had authorized a release from the Strategic Petroleum…

US Still Courting Australia To Sell SPR Crude And Storage Space To House It

US Still Courting Australia To Sell SPR Crude And Storage Space To House It

Sep 13, 2019 at 17:53 | Julianne Geiger

US Energy Secretary Rick Perry said on Friday that Australia was still in negotiations with the United States to lease space in America’s Strategic Petroleum Reserve, S&P Global Platts reported…

Nigeria LNG Seeks $10B Funding To Expand

Nigeria LNG Seeks $10B Funding To Expand

Sep 13, 2019 at 17:31 | Tsvetana Paraskova

The operator of Africa’s biggest natural gas plant, Nigeria LNG, is seeking a loan of US$10 billion from domestic and international lenders to expand its operations with a seventh train,…

India Considers Selling Bharat Petroleum Stake To Oil Major

India Considers Selling Bharat Petroleum Stake To Oil Major

Sep 13, 2019 at 13:50 | Tsvetana Paraskova

India weighs selling the state’s majority stake in Bharat Petroleum Corporation (BPCL), the country’s second-largest state-owned refiner, to an international oil company, Bloomberg reported on Friday, quoting people with…

U.S. Moves Closer To Opening New Lands For Drilling In Alaska

U.S. Moves Closer To Opening New Lands For Drilling In Alaska

Sep 13, 2019 at 13:37 | Irina Slav

The U.S. Bureau of Land Management has issued the final environmental impact statement on an oil and gas drilling program for the Arctic National Wildlife Refuge. The plan will…

IEA: US Shale Revolution Changed Global Energy Market

IEA: US Shale Revolution Changed Global Energy Market

Sep 13, 2019 at 12:48 | Tsvetana Paraskova

Rising U.S. shale oil and gas production has turned the United States into the world’s largest oil and gas producer, which in turn has changed the entire energy landscape both…

Shippers Afraid To Give Venezuela Tankers To Export Crude

Shippers Afraid To Give Venezuela Tankers To Export Crude

Sep 13, 2019 at 10:50 | Irina Slav

Shipping companies have become increasingly reluctant to supply Venezuela with vessels to ship its crude oil to foreign markets for fear of losing their insurance, Bloomberg reports, citing unnamed…

Fire Erupts On Oil Tanker At Norwegian Terminal

Fire Erupts On Oil Tanker At Norwegian Terminal

Sep 13, 2019 at 09:18 | Tsvetana Paraskova

A fire of still unknown origin broke out on Friday morning in the engine room of an oil tanker during loading operations at Equinor’s Sture oil terminal in Norway,…

Oman: Forget $80 Oil, Producers Should Get Used To $60 Oil

Oman: Forget $80 Oil, Producers Should Get Used To $60 Oil

Sep 12, 2019 at 17:57 | Tsvetana Paraskova

Oil producing nations should get used to living in a world of US$60 a barrel oil, because US$80 oil is unlikely in the current market environment, Oman’s Minister of Oil…

Harold Hamm: U.S. Oil Firms Adjust Production Growth To Demand

Harold Hamm: U.S. Oil Firms Adjust Production Growth To Demand

Sep 12, 2019 at 17:49 | Tsvetana Paraskova

U.S. shale producers intend to meet oil demand, but not exceed it, so they are adjusting their production growth accordingly, shale pioneer and the chairman and chief executive of Continental…

Venezuela Confident It Will Recover Oil Production By End-2019

Venezuela Confident It Will Recover Oil Production By End-2019

Sep 12, 2019 at 17:44 | Tsvetana Paraskova

Venezuela is confident that it can recover the oil production lost to U.S. sanctions after the ousting of John Bolton as U.S. national security advisor, Venezuela’s Oil Minister Manuel…

Non-Compliant Iraq, Nigeria Vow To Fall In Line With OPEC Oil Quotas

Non-Compliant Iraq, Nigeria Vow To Fall In Line With OPEC Oil Quotas

Sep 12, 2019 at 16:58 | Tsvetana Paraskova

Iraq and Nigeria—the two rogue members of OPEC that haven’t been complying with their share of the production cuts in recent months—pledged on Thursday to fall within their respective…

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