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News

Nigeria Looks To Run Oil Pipeline Vandals Out Of Business

Nigeria Looks To Run Oil Pipeline Vandals Out Of Business

Aug 20, 2019 at 10:33 | Irina Slav

Nigeria’s National Petroleum Corporation has teamed up with a state security company to improve the safety of oil pipelines, The Guardian reports, citing officials from the two companies. The…

Saudi Aramco Picks Lazard, Moelis For Key IPO Roles

Saudi Aramco Picks Lazard, Moelis For Key IPO Roles

Aug 20, 2019 at 10:20 | Tsvetana Paraskova

Saudi oil giant Aramco has chosen to work with Lazard and Moelis as advisors for the initial public offering (IPO) of the world’s largest oil firm, people with knowledge of…

U.S. Warns Greece Against Helping Iran Oil Tanker

U.S. Warns Greece Against Helping Iran Oil Tanker

Aug 20, 2019 at 09:12 | Irina Slav

The United States has conveyed a “strong position” regarding any assistance to the now notorious Iranian tanker Grace 1, which left Gibraltar yesterday and is heading to Greece. According to…

Aramco Asks Banks To Submit Proposals For Role In Mega IPO

Aramco Asks Banks To Submit Proposals For Role In Mega IPO

Aug 19, 2019 at 17:34 | Julianne Geiger

The Aramco IPO is one step closer to reality, with Saudi Arabia’s state-run oil company seeking proposals from banks who wish to fulfill various roles in the much-anticipated IPO,…

Iran: Seized UK Oil Tanker A Separate Issue From Iranian Ship In Gibraltar

Iran: Seized UK Oil Tanker A Separate Issue From Iranian Ship In Gibraltar

Aug 19, 2019 at 17:27 | Tsvetana Paraskova

Iran views the now released Iranian oil tanker and the UK-flagged oil tanker that Iran detained a few weeks after Gibraltar and the UK Royal Marines seized Iran’s tanker,…

Saudi Aramco To Buy Texas Chemical Plant Next to Port Arthur Refinery

Saudi Aramco To Buy Texas Chemical Plant Next to Port Arthur Refinery

Aug 19, 2019 at 16:52 | Julianne Geiger

Motiva Enterprise, Aramco’s refinery business in the United States, signed an agreement to buy another US asset, the Flint Hills Resources Chemical Plant, for an undisclosed sum. The deal is…

Oil Majors, Traders Win Nigerian Crude For Fuel Swap Deals

Oil Majors, Traders Win Nigerian Crude For Fuel Swap Deals

Aug 19, 2019 at 14:56 | Tsvetana Paraskova

Oil majors and the world’s biggest commodity traders were among the winners of Nigeria’s annual swap deals tender for crude offtake and delivery of refined oil products. The Nigerian National…

Australia Is Now The World’s Third Largest Fossil Fuel Exporter

Australia Is Now The World’s Third Largest Fossil Fuel Exporter

Aug 19, 2019 at 13:42 | Tsvetana Paraskova

Despite claims from politicians that Australia’s contribution to global carbon emissions is not that big, the country ranks third in the world in terms of fossil fuel exports by carbon…

Oil Major Shell Launches EV Chargers In Southeast Asia

Oil Major Shell Launches EV Chargers In Southeast Asia

Aug 19, 2019 at 11:39 | Tsvetana Paraskova

Royal Dutch Shell said on Monday that it is launching an electric vehicles (EV) charging service at some of its gas stations in Singapore, a first foray into the…

Iran Lawmakers Proposes Eccentric Anti-U.S. Bill To Reclaim Oil Money

Iran Lawmakers Proposes Eccentric Anti-U.S. Bill To Reclaim Oil Money

Aug 19, 2019 at 10:30 | Irina Slav

A group of Iranian lawmakers have proposed a 10-point plan aimed against the United States and Great Britain following the reimposing of U.S. sanctions last November and the heightened tension…

Canada Oil Lobby Registers As Third Party Ahead Of Federal Vote

Canada Oil Lobby Registers As Third Party Ahead Of Federal Vote

Aug 19, 2019 at 09:22 | Irina Slav

The Canadian Association of Petroleum Producers has registered as a third party ahead of the federal election in October in order to be able to discuss energy issues, the Edmonton…

CNPC Backs Out Of Oil Purchases With Venezuela On Sanctions Scare

CNPC Backs Out Of Oil Purchases With Venezuela On Sanctions Scare

Aug 16, 2019 at 15:22 | Julianne Geiger

Russia and China have stuck with Venezuela during its most recent time of need, but at least one of their loyalties may soon come to an end, according to

Platts: Slumping Car Sales Weaken China’s Appetite For Gasoline, Petchems

Platts: Slumping Car Sales Weaken China’s Appetite For Gasoline, Petchems

Aug 16, 2019 at 13:26 | Tsvetana Paraskova

Weakening Chinese car sales and slowing economic growth weigh on China’s demand growth of key oil products such as gasoline and petrochemicals, S&P Global Platts Analytics says. China’s new…

China-Held Oil Tanker Looks To Skirt US Sanctions On Iran

China-Held Oil Tanker Looks To Skirt US Sanctions On Iran

Aug 16, 2019 at 13:20 | Tsvetana Paraskova

An oil tanker owned by a China-based shipping company has recently gone dark for more than a month, reappearing under a different name in what could be an effort to…

Scientists: Conventional Oil Impacts Groundwater More Than Fracking

Scientists: Conventional Oil Impacts Groundwater More Than Fracking

Aug 16, 2019 at 12:41 | Tsvetana Paraskova

While many protests against the oil and gas industry focus on the effects of fracking on the environment, scientists say that as far as groundwater is concerned, conventional oil and…

Chinese Investments In Nigerian Oil Hit $16B

Chinese Investments In Nigerian Oil Hit $16B

Aug 16, 2019 at 11:03 | Irina Slav

Chinese investments in the oil and gas industry of Nigeria have reached US$16 billion, according to a senior NNPC official, but the industry needs even more to advance its production…

Suriname Oil Company Plans Bond Sale To Develop Oil Discovery

Suriname Oil Company Plans Bond Sale To Develop Oil Discovery

Aug 16, 2019 at 09:22 | Irina Slav

Suriname’s national oil company plans to issue bonds next year to fund offshore exploration, Reuters reports, quoting the company’s chief executive. Suriname is a tiny country squeezed between Guyana and…

Venezuela’s Opposition Softens Proposed Oil Reform Bill

Venezuela’s Opposition Softens Proposed Oil Reform Bill

Aug 15, 2019 at 17:56 | Julianne Geiger

The oil reforms proposed by Venezuela’s opposition party led by Juan Guaido—the president that the United States and other countries have recognized—have been scaled back, according to a draft bill…

GE On The “Verge of Insolvency” Claims Whistleblower Report

GE On The “Verge of Insolvency” Claims Whistleblower Report

Aug 15, 2019 at 17:41 | Julianne Geiger

GE stock fell sharply on Thursday after a whistleblower report accused the company of perpetrating a “bigger fraud than Enron”, according a website set up specifically to address the issue,…

Canadian Hibernia Platform Restarts Production After Oil Spill

Canadian Hibernia Platform Restarts Production After Oil Spill

Aug 15, 2019 at 17:37 | Tsvetana Paraskova

Crude oil production at the Hibernia platform offshore Canada’s northeast Atlantic coast resumed on Thursday after a month-long hiatus following an oil spill in the middle of July, Exxon—the largest…

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