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Azerbaijan Feels the Heat as U.S. House Considers Sanctions

Azerbaijan Feels the Heat as U.S. House Considers Sanctions

Azerbaijan faces potential sanctions from…

U.S. Drilling Activity Slips

U.S. Drilling Activity Slips

The total number of active…

News

Initially Defiant Turkey Complies With U.S. Sanctions On Iranian Oil

Initially Defiant Turkey Complies With U.S. Sanctions On Iranian Oil

May 21, 2019 at 12:32 | Tsvetana Paraskova

Despite criticizing the U.S. decision not to extend any sanction waivers for Iranian oil customers, Turkey appears to be fully complying with the U.S. sanctions on Iran’s oil, Reuters

Mid-Caps In Oil & Gas Hard Pressed For New Money

Mid-Caps In Oil & Gas Hard Pressed For New Money

May 21, 2019 at 11:49 | Irina Slav

Mid-cap oil and gas companies are having trouble securing fresh investments because fund managers are reorienting their priorities towards alternative energies, says the chief financial officer of…

Morgan Stanley Sees Tesla Stock Price At Just $10 In ‘Bear Case’

Morgan Stanley Sees Tesla Stock Price At Just $10 In ‘Bear Case’

May 21, 2019 at 10:44 | Tsvetana Paraskova

After Tesla’s stock slumped to its lowest level since December 2016 on the back of bearish analyst coverage on Monday, Morgan Stanley chimed in on Tuesday, slashing its ‘worst-case’…

China Raises Oil Export Quotas Ahead Of Driving Season

China Raises Oil Export Quotas Ahead Of Driving Season

May 21, 2019 at 09:48 | Irina Slav

China has allocated a new batch of oil product export quotas that has brought the total since the start of the year to 50 million tons, S&P Global Platts

China Pours US$23B In Offshore Wind Power Project

China Pours US$23B In Offshore Wind Power Project

May 21, 2019 at 09:01 | Irina Slav

China will invest some 160 billion yuan (US$23.5 billion) in an offshore wind power project that will have an installed capacity of more than 10GW Chinese state news agency Xinhua…

Democrats Present Yet Another $10 Trillion Climate Change Solution

Democrats Present Yet Another $10 Trillion Climate Change Solution

May 20, 2019 at 17:56 | Julianne Geiger

Yet Another US Presidential hopeful rolled out yet another climate change solution on Monday, this time by Democrat Michael Bennet, and this one topping the charts as far as…

Iraq Chastises Exxon For Evacuating Oil Personnel, Despite Rocket Strike

Iraq Chastises Exxon For Evacuating Oil Personnel, Despite Rocket Strike

May 20, 2019 at 17:46 | Julianne Geiger

“Unacceptable and unjustified” are the words Iraqi Oil Minister Thamer Ghadhban used to describe ExxonMobil’s hasty exit from the troubled country, according to Reuters, but a late-night rocket strike…

Carlyle Firm To Seek Fast-Track Approval Of Texas Oil Export Terminal

Carlyle Firm To Seek Fast-Track Approval Of Texas Oil Export Terminal

May 20, 2019 at 17:34 | Tsvetana Paraskova

Lone Star Ports LLC, backed by Carlyle Group, will be seeking a faster-track approval from the U.S. Administration for its project to build the first U.S. onshore export terminal capable…

Energy Companies Top U.S. Revenue Per Employee Ranking

Energy Companies Top U.S. Revenue Per Employee Ranking

May 20, 2019 at 17:22 | Tsvetana Paraskova

Energy and utilities continue to be the top performing sector in the S&P 500 in terms of revenue per employee and the only sector with average revenue per employee higher…

Faltering North Sea Oil Production Set To Tighten Global Markets

Faltering North Sea Oil Production Set To Tighten Global Markets

May 20, 2019 at 15:58 | Tsvetana Paraskova

Crude and lease condensate production in the North Sea is set for lower levels in the summer months, further tightening the global oil market which is already grappling with production…

Venezuela's Military To Oversee Fuel Rationing

Venezuela's Military To Oversee Fuel Rationing

May 20, 2019 at 14:12 | Irina Slav

Venezuelans are having their fuel rationed with the rationing overseen by the military, Reuters reported on Sunday as fuel shortages begin to bite deeper. As local crude oil production…

Oil Majors Refuse To Pay For Dirty Russian Crude

Oil Majors Refuse To Pay For Dirty Russian Crude

May 20, 2019 at 11:41 | Tsvetana Paraskova

Western oil majors Total and Eni have suspended payments to the Russian companies that sold them contaminated crude via the Druzhba pipeline, in a new controversy in what trading sources…

Houthis Threaten Attacks On 300+ Saudi, UAE Targets

Houthis Threaten Attacks On 300+ Saudi, UAE Targets

May 20, 2019 at 11:08 | Tsvetana Paraskova

The Houthi rebels in Yemen said over the weekend that last week’s attack on an Aramco oil pipeline in Saudi Arabia was the start of military operations against some…

Are California Gasoline Prices Being Manipulated?

Are California Gasoline Prices Being Manipulated?

May 20, 2019 at 09:27 | Irina Slav

Market manipulation could be behind the fact that California drivers pay more for gasoline than the rest of the country, the Lost Angeles Times reports, citing a statement by…

Mexico’s President: Pemex’s Enormous Debt Won’t Grow Further

Mexico’s President: Pemex’s Enormous Debt Won’t Grow Further

May 17, 2019 at 16:58 | Tsvetana Paraskova

The enormous debt of Mexico’s state oil firm Pemex has not increased since the new administration took office in December 2018, and will not increase in the future, Mexican…

Saudis To Boost Crude Delivery To Indian Oil In H2 2019

Saudis To Boost Crude Delivery To Indian Oil In H2 2019

May 17, 2019 at 15:39 | Tsvetana Paraskova

Saudi Arabia may soak up some of Iran’s previous market share on the Indian market as Saudi Aramco is set to ship additional 2 million barrels per month to Indian…

Russia Finally Brings Oil Production Below OPEC+ Cap 

Russia Finally Brings Oil Production Below OPEC+ Cap 

May 17, 2019 at 15:17 | Tsvetana Paraskova

A month before OPEC and allies are set to discuss the future of their production cut deal, the leader of the non-OPEC group, Russia, appears to have finally fallen in…

Total Declares Force Majeure On German Refinery After Russian Oil Contamination

Total Declares Force Majeure On German Refinery After Russian Oil Contamination

May 17, 2019 at 12:52 | Tsvetana Paraskova

France’s Total has halted some of the units at its 230,000-bpd Leuna refinery in Germany to conduct technical checks after contaminated Russian crude oil was found to have flown…

Haiti Struggles Without Electricity As Cheap Venezuelan Oil Flow Stops

Haiti Struggles Without Electricity As Cheap Venezuelan Oil Flow Stops

May 17, 2019 at 12:00 | Tsvetana Paraskova

Venezuela’s crisis and plunging oil production impact countries in the Caribbean as well, as most people in the poorest nation in the Western hemisphere, Haiti, now have electricity

Venezuela Hit By Gasoline Shortages

Venezuela Hit By Gasoline Shortages

May 17, 2019 at 10:18 | Irina Slav

Another problem has been added to Venezuela’s growing list of woes: gasoline import shortages that have caused lines at gas stations, Reuters reports, adding that local production has slumped…

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