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News

Chevron Finds New Friend In Venezuela’s Juan Guaido

Chevron Finds New Friend In Venezuela’s Juan Guaido

Jul 23, 2019 at 13:55 | Julianne Geiger

Hope for crisis-stricken Venezuela may be dwindling, but Chevron—who has been steadfastly operating in the country for almost 100 years despite the unattractive business environment—can rest a bit easier today…

Iran: We Will Be “Guardian Of Security” In Gulf, Strait Of Hormuz

Iran: We Will Be “Guardian Of Security” In Gulf, Strait Of Hormuz

Jul 23, 2019 at 13:22 | Tsvetana Paraskova

Iranian officials have reassured Iraq that there would be freedom of navigation in the Strait of Hormuz, the most critical oil shipping lane in the world, the Iraqi oil…

Saudi Plan To Get Stake In India’s Largest Company Hits A Snag

Saudi Plan To Get Stake In India’s Largest Company Hits A Snag

Jul 23, 2019 at 13:10 | Tsvetana Paraskova

Discussions between India’s largest company, Reliance Industries, and Aramco, the world’s single biggest oil producing firm, have hit a stumbling block as the Indians want higher valuation than the Saudis…

Nigeria’s State Oil Firm Secures $3B Deal To Develop Oil License

Nigeria’s State Oil Firm Secures $3B Deal To Develop Oil License

Jul 23, 2019 at 12:05 | Tsvetana Paraskova

The Nigerian National Petroleum Corporation (NNPC) said on Tuesday that it had secured a US$3.15 billion financial and technical services agreement with local firm Sterling Oil Exploration & Energy…

Ex PDVSA Manager Found Dead After Testifying In Spanish Court

Ex PDVSA Manager Found Dead After Testifying In Spanish Court

Jul 23, 2019 at 11:56 | Tsvetana Paraskova

Juan Carlos Márquez, 48, a former executive at PDVSA, was found hanged in a flat in Madrid on Sunday, days after he was arrested and appeared in court over his…

Utility Builds Zero-Carbon Gas Power Plants

Utility Builds Zero-Carbon Gas Power Plants

Jul 23, 2019 at 11:01 | Irina Slav

NET Power, a utility set up in 2010, is building zero-carbon natural gas-fired power plants in the United States and abroad and plans on making them cheap enough in the…

Venezuela Says Electromagnetic Attack Behind Latest Blackout

Venezuela Says Electromagnetic Attack Behind Latest Blackout

Jul 23, 2019 at 09:06 | Irina Slav

Another blackout turned the lights off in more than half of Venezuela, Reuters reports citing witnesses and social media posts. The report added that Caracas had blamed the blackout…

Putin Calls For End To ‘Generous’ Oil Industry Tax Breaks

Putin Calls For End To ‘Generous’ Oil Industry Tax Breaks

Jul 22, 2019 at 17:33 | Julianne Geiger

The Russian government’s generous tax break to its largest oil company, Rosneft, for work on its largest oilfield, the Priobskoye, is being called into question by President Vladimir Putin, according…

Russia’s Novatek Hits Major Milestones In Arctic LNG Plans

Russia’s Novatek Hits Major Milestones In Arctic LNG Plans

Jul 22, 2019 at 17:17 | Tsvetana Paraskova

Russian gas producer Novatek closed on Monday the sale of stakes in its Arctic LNG 2 project, just days after Russia’s government approved the construction of a liquefied natural gas…

Halliburton Beats Profit Estimates Despite “Challenging” North America Market

Halliburton Beats Profit Estimates Despite “Challenging” North America Market

Jul 22, 2019 at 16:06 | Tsvetana Paraskova

Oilfield services provider Halliburton Company (NYSE:HAL) on Monday beat analyst estimates in its Q2 earnings, thanks to growth in international markets that offset lagging activity in North America, the…

UAE, Chinese State Firms To Boost Oil & LNG Cooperation

UAE, Chinese State Firms To Boost Oil & LNG Cooperation

Jul 22, 2019 at 13:31 | Tsvetana Paraskova

The Abu Dhabi National Oil Company (ADNOC) signed on Monday a strategic cooperation agreement with China National Offshore Oil Corporation (CNOOC) as one of OPEC’s largest producers agreed to…

Libya Lifts Force Majeure After Giant Sharara Field Starts Pumping Again

Libya Lifts Force Majeure After Giant Sharara Field Starts Pumping Again

Jul 22, 2019 at 12:04 | Irina Slav

Libya has lifted its force majeure on Monday after it stopped loading crude oil for the weekend from the Zawiya terminal following the suspension of production from the country’s largest…

UK Prime Minister To Chair Meeting On Iran Tanker Crisis

UK Prime Minister To Chair Meeting On Iran Tanker Crisis

Jul 22, 2019 at 09:59 | Irina Slav

UK’s Prime Minister Theresa May will chair a meeting of emergency committee Cobra following Iran’s seizure of a British-flagged tanker last Friday, the BBC reports. The report notes the…

30,000 In NYC Without Power During Heat Wave Weekend

30,000 In NYC Without Power During Heat Wave Weekend

Jul 22, 2019 at 09:32 | Irina Slav

Some 30,000 Con Ed customers in New York City were left without power temporarily yesterday as the utility fought a string of outages caused by the heat wave that struck…

Eni, PetroChina, Trading Houses Bid In $6Bn Pakistan LNG Tender

Eni, PetroChina, Trading Houses Bid In $6Bn Pakistan LNG Tender

Jul 19, 2019 at 17:04 | Tsvetana Paraskova

Italy’s Eni, a unit of PetroChina, and two commodity traders have bid in Pakistan’s huge tender for supply of liquefied natural gas (LNG) for ten years estimated to be worth…

Trudeau: Ottawa Open To Proposals For British Columbia Refinery

Trudeau: Ottawa Open To Proposals For British Columbia Refinery

Jul 19, 2019 at 13:28 | Tsvetana Paraskova

Canada’s federal government is open to proposals for a refinery in British Columbia, Canadian Prime Minister Justin Trudeau said on Thursday, just as the B.C. authorities started hearings in…

Billionaire Investor Icahn In Proxy Fight For Occidental Board Seats

Billionaire Investor Icahn In Proxy Fight For Occidental Board Seats

Jul 19, 2019 at 11:59 | Tsvetana Paraskova

Billionaire activist investor Carl Icahn, who holds 4.4 percent in Occidental Petroleum, filed on Thursday a Solicitation Statement with the SEC, officially launching a proxy fight to replace four…

Iranian Ships Stranded In Brazil In Need Of Fuel Due To U.S. Sanctions

Iranian Ships Stranded In Brazil In Need Of Fuel Due To U.S. Sanctions

Jul 19, 2019 at 09:06 | Tsvetana Paraskova

Two Iran-flagged vessels have been sitting idle at Brazilian ports for weeks because they need fuel to return to Iran, but Brazil’s Petrobras refuses to sell them fuel because of…

Mexico Goes Full Steam Ahead With $8 Billion Oil Refinery Against Advice

Mexico Goes Full Steam Ahead With $8 Billion Oil Refinery Against Advice

Jul 18, 2019 at 17:48 | Julianne Geiger

Mexico’s controversial Dos Bocas oil refinery project will indeed be built despite investor criticism, Mexican Energy Minister Rocio Nahle said during a radio broadcast on Thursday, reported by Reuters.…

China To Add More Coal Power In 2019 And 2020 To Meet Energy Demand

China To Add More Coal Power In 2019 And 2020 To Meet Energy Demand

Jul 18, 2019 at 17:43 | Charles Kennedy

In order to meet the growing demand for electricity, China's biggest power generator, China Energy Group is planning to build 11 gigawatts (GW) of new coal power during this and…

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