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News

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…

Something Very Unusual Just Happened In Asia’s Roaring LNG Market

Something Very Unusual Just Happened In Asia’s Roaring LNG Market

Aug 29, 2019 at 16:52 | Tsvetana Paraskova

Japan, the world’s single largest importer of liquefied natural gas (LNG), has imported its first LNG cargo on record from the world’s second-biggest importer and largest growth market, China, as…

Iranian Oil Tanker Turns Around And Heads West From Turkey

Iranian Oil Tanker Turns Around And Heads West From Turkey

Aug 29, 2019 at 15:45 | Tsvetana Paraskova

Iranian oil tanker Adrian Darya 1, which has been traveling in the Mediterranean since Gibraltar released it two weeks ago, appears to have reversed course away from Turkey and is…

China’s CNOOC Boosts H1 Net Profit Despite Weak Oil Prices

China’s CNOOC Boosts H1 Net Profit Despite Weak Oil Prices

Aug 29, 2019 at 12:01 | Tsvetana Paraskova

China National Offshore Oil Corporation (CNOOC) reported on Thursday an 18.7-percent rise in its net profit for the first half of 2019 on the back of increased sales of…

Dow Signs Deal To Source Oil From Plastic Waste

Dow Signs Deal To Source Oil From Plastic Waste

Aug 29, 2019 at 09:53 | Tsvetana Paraskova

Dow Inc said on Thursday that it is partnering with the Netherlands-based Fuenix Ecogy Group to turn recycled plastic waste into oil. Dow will use the feedstock, pyrolysis oil,…

Tesla Launches Insurance Service In Risky Bet

Tesla Launches Insurance Service In Risky Bet

Aug 29, 2019 at 09:27 | Irina Slav

Amid deepening problems with its solar business and preparations to begin producing cars in China, Tesla has announced a new insurance service for Tesla owners. According to the company’s…

Venezuela’s Cash Reserves Shoot Up From PDVSA Despite Sanctions

Venezuela’s Cash Reserves Shoot Up From PDVSA Despite Sanctions

Aug 28, 2019 at 17:38 | Julianne Geiger

PDVSA’s sales to China just netted Venezuela a cool $700 million, increasing its reserves to $8.8 billion, two sources with direct knowledge told Bloomberg on Wednesday. Most of the…

Leaked Photos Suggest Tesla’s China Production May Start Soon

Leaked Photos Suggest Tesla’s China Production May Start Soon

Aug 28, 2019 at 16:20 | Tsvetana Paraskova

Photographs believed to have been taken inside Tesla’s Gigafactory in Shanghai appear to show production setup tests for what could be an imminent start of production of Model 3…

India’s Top Oil Refiner To Invest $28B In Seven Years

India’s Top Oil Refiner To Invest $28B In Seven Years

Aug 28, 2019 at 15:56 | Tsvetana Paraskova

The biggest refiner in India, Indian Oil Corp, plans to invest US$27.9 billion (2 trillion Indian rupees) over the next five to seven years to provide energy solutions to different…

Crimea Offers To Help Ship Iranian Oil

Crimea Offers To Help Ship Iranian Oil

Aug 28, 2019 at 14:42 | Tsvetana Paraskova

Crimea, the territory that Russia annexed from Ukraine in 2014, is ready to assist Iran in transporting crude oil via Crimean ports, Georgy Muradov, the Deputy Prime Minister of Crimea,…

Saudi Aramco Sells Its First-Ever West Texas Light Crude In Trading Push

Saudi Aramco Sells Its First-Ever West Texas Light Crude In Trading Push

Aug 28, 2019 at 12:03 | Tsvetana Paraskova

Aramco Trading has sold its first-ever West Texas Light (WTL) cargo as part of Saudi Aramco’s ambition to become a top oil trader, Reuters reported on Wednesday, citing four…

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