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News

$20B Danish Fund Ditches Oil Supermajors Over Climate Concerns

$20B Danish Fund Ditches Oil Supermajors Over Climate Concerns

Sep 03, 2019 at 15:40 | Tsvetana Paraskova

The US$20-billion Danish fund MP Pension said on Tuesday it is excluding the world’s largest oil companies from its portfolio, looking to secure long-term returns for investors and to…

Chinese Oil Majors Consume More Crude In August

Chinese Oil Majors Consume More Crude In August

Sep 03, 2019 at 12:16 | JLC

PetroChina and Sinopec’s daily crude consumption grew further in August 2019, because of more unit restarts, JLC data shows. This increase comes after a modest 1.25% month-on-month

Iranian Oil Tanker Turns Off Positioning System Offshore Syria

Iranian Oil Tanker Turns Off Positioning System Offshore Syria

Sep 03, 2019 at 10:13 | Tsvetana Paraskova

Iranian oil tanker Adrian Darya 1, which the U.S. blacklisted this weekend, went dark on Monday while in the Mediterranean offshore Syria, ship-tracking data shows, suggesting that the tanker may…

Eurasian Union Deal With Iran To Take Effect In October

Eurasian Union Deal With Iran To Take Effect In October

Sep 03, 2019 at 09:16 | Irina Slav

A trade deal between Iran and the Eurasian Economic Union will take effect on October 26, Russia’s Energy Minister Alexander Novak said during a meeting with Iran’s Energy Minister, Reza…

Libya’s Oil Revenues Up 23% In July: NOC

Libya’s Oil Revenues Up 23% In July: NOC

Sep 02, 2019 at 17:19 | Julianne Geiger

Libya’s National Oil Corporation reported $2.1 billion in income in July from its sales of crude oil and corresponding taxes, NOC said in a press release. The figure represents a…

Saudi Energy Minister Al Falih Loses Key Role In Aramco

Saudi Energy Minister Al Falih Loses Key Role In Aramco

Sep 02, 2019 at 17:02 | Julianne Geiger

Just a few short days after Saudi Arabia’s Energy Minister lost half of his purview, Saudi Energy Minister Khalid Al Falih has lost his role as chairman of the board…

Iran’s Oil Product Exports Stay Strong Despite U.S. Sanctions

Iran’s Oil Product Exports Stay Strong Despite U.S. Sanctions

Sep 02, 2019 at 16:54 | Tsvetana Paraskova

The U.S. sanctions on the Iranian oil industry have cut a lot of the crude oil exports of the Islamic Republic, but oil product exports—also under U.S. sanctions—have held pace…

Iran Says France Offered $15B Oil Pre-Purchases Credit Line

Iran Says France Offered $15B Oil Pre-Purchases Credit Line

Sep 02, 2019 at 16:34 | Tsvetana Paraskova

France has proposed to extend to Iran a credit line of US$15 billion for oil “pre-purchases” in exchange for full compliance with the nuclear deal, parts of which Iran has…

India Weighs Selling Government Stake In Bharat Petroleum  

India Weighs Selling Government Stake In Bharat Petroleum  

Sep 02, 2019 at 13:31 | Tsvetana Paraskova

India’s government plans to sell its entire more than 50-percent stake in one of the largest local refiners, Bharat Petroleum Corporation (BPCL), most likely to state-controlled Indian Oil Corporation, Indian…

Perry: Poland, Ukraine To Work With U.S. To Reduce Dependence On Russian Gas

Perry: Poland, Ukraine To Work With U.S. To Reduce Dependence On Russian Gas

Sep 02, 2019 at 10:47 | Irina Slav

The United States will work with Poland and Ukraine to reduce their dependence on Russian gas, media reported after a meeting between U.S. Energy Secretary Rick Perry and Polish and…

China To Boost Shale Output To Cut Import Dependence

China To Boost Shale Output To Cut Import Dependence

Sep 02, 2019 at 10:39 | Tsvetana Paraskova

China is looking to increase its natural gas production, especially shale gas output, to reduce its import dependence while demand continues to grow in the foreseeable future, a government research…

Iran Tanker Nears Syria, May Unload Cargo Via Ship-To-Ship Transfer

Iran Tanker Nears Syria, May Unload Cargo Via Ship-To-Ship Transfer

Sep 02, 2019 at 10:24 | Irina Slav

The notorious Adrian Darya 1, formerly Grace 1, tanker is near Syria, two tanker-tracking service providers have reported, although they differ on the proximity. According to TankerTrackers.com, the Adrian Darya…

WoodMac Sees US$32B M&A Shakeup In Australia’s Oil & Gas

WoodMac Sees US$32B M&A Shakeup In Australia’s Oil & Gas

Sep 02, 2019 at 09:30 | Tsvetana Paraskova

Australia’s upstream oil and gas sector is set for a major mergers and acquisitions (M&A) shake-up, with US$32 billion worth of assets potentially changing ownership over the next few years,…

Trade War Could Undermine China’s Emission Reduction Targets 

Trade War Could Undermine China’s Emission Reduction Targets 

Aug 30, 2019 at 13:42 | Tsvetana Paraskova

The Chinese economy has come under pressure from the U.S.-China trade war which has made tacking climate change more difficult for Beijing, a senior official said on Friday, noting…

Huge Sverdrup Oil Field May Begin Shipments Earlier Than Planned

Huge Sverdrup Oil Field May Begin Shipments Earlier Than Planned

Aug 30, 2019 at 13:15 | Tsvetana Paraskova

The giant Johan Sverdrup oil field in Norway’s North Sea could start shipping oil in October, a month before the currently expected field production start-up in November, Reuters reported…

U.S. Refineries Brace For Hurricane Dorian

U.S. Refineries Brace For Hurricane Dorian

Aug 30, 2019 at 11:09 | Irina Slav

Some refineries along the Gulf Coast are keeping a close eye on Hurricane Dorian, which is currently moving towards the Florida coast, where it is expected to make landfall this…

China's July Gasoline Exports Surge 56.1 Percent

China's July Gasoline Exports Surge 56.1 Percent

Aug 30, 2019 at 10:16 | JLC

China exported about 1.56million mt of gasoline in July 2019, a surge of about 559,900 mt or 56.1% from June, according to data from the country’s General Administration of Customs (GAC). The jump…

China, Philippine Meeting Fails To Produce South China Sea Agreement

China, Philippine Meeting Fails To Produce South China Sea Agreement

Aug 30, 2019 at 09:36 | Irina Slav

A much anticipated meeting between the presidents of China and the Philippines failed to end in an agreement regarding the South China Sea: a sensitive matter that has pitted China…

Gazprom Finally Concedes Tough Times Ahead For Gas Exports, Prices

Gazprom Finally Concedes Tough Times Ahead For Gas Exports, Prices

Aug 29, 2019 at 17:41 | Julianne Geiger

Gazprom admitted today that its gas exports to Europe will fall in 2019, Reuters reported on Thursday, meaning that its 200.8 billion cubic meters of gas it shipped…

China, Philippines Team Up For Oil Exploration In South China Sea

China, Philippines Team Up For Oil Exploration In South China Sea

Aug 29, 2019 at 17:35 | Tsvetana Paraskova

China and the Philippines are set to join efforts to drill for oil and gas in the disputed South China Sea—a move that could be a short-term…

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