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The Oil Price Rally Has Stalled... For Now.

The Oil Price Rally Has Stalled... For Now.

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Is Gold Heading to $3,000?

Is Gold Heading to $3,000?

Gold has surged to a…

News

Saudi Aramco Looks To Bolster Gas Business Through Joint-Ventures

Saudi Aramco Looks To Bolster Gas Business Through Joint-Ventures

Apr 25, 2019 at 15:23 | Tsvetana Paraskova

Saudi Arabia’s oil giant Aramco, which has an ambitious plan to grow its natural gas business, is in talks with many partners for a potential joint venture or partnership,…

Russia’s Novatek Sells 20% In Arctic LNG 2 To Chinese Firms

Russia’s Novatek Sells 20% In Arctic LNG 2 To Chinese Firms

Apr 25, 2019 at 15:18 | Tsvetana Paraskova

  Russian gas producer Novatek said on Thursday that it had signed agreements with two Chinese companies, under which the Asian firms will become shareholders in the…

Canada Bans Oil, Gas Drilling In Marine Protected Areas

Canada Bans Oil, Gas Drilling In Marine Protected Areas

Apr 25, 2019 at 13:18 | Tsvetana Paraskova

Canada announced on Thursday that it is banning oil and gas drilling in federal marine protected areas, in a move to take action to protect the oceans. Until now,…

Venezuela’s Oil Industry Implosion Reaches Chevron

Venezuela’s Oil Industry Implosion Reaches Chevron

Apr 25, 2019 at 13:08 | Tsvetana Paraskova

Massive blackouts in Venezuela in March and April have drastically reduced oil production at Chevron’s biggest oil joint venture in the country, Bloomberg reported on Thursday, citing data that…

Iraq, Kurdistan To Discuss 50% Increase In Oil Production

Iraq, Kurdistan To Discuss 50% Increase In Oil Production

Apr 25, 2019 at 12:06 | Irina Slav

The central Iraqi government will meet with its Kurdish counterparts soon to talk about oil exports from the now semi-autonomous region that tried to gain independence last year. Reuters

Tesla May Need Another Capital Injection As Q1 Brings $700 Million Loss

Tesla May Need Another Capital Injection As Q1 Brings $700 Million Loss

Apr 25, 2019 at 09:35 | Irina Slav

Tesla may soon announce a capital raise after Elon Musk suggested “There is some merit to raising capital,” adding “It’s probably…

U.S. Sanctions Strip Iran Of $10 Billion In Revenues

U.S. Sanctions Strip Iran Of $10 Billion In Revenues

Apr 25, 2019 at 09:22 | Irina Slav

The U.S. sanctions imposed last November on Iran have denied the country some US$10 billion in oil revenues so far, Washington’s Special Envoy for Iran Brian Hook told media.…

Poland Suspends Russian Oil Intake On Contamination

Poland Suspends Russian Oil Intake On Contamination

Apr 25, 2019 at 08:26 | Irina Slav

Poland has shut down the flow of Russian crude oil via the Druzhba pipeline after traces of contamination were found, Reuters reports. An earlier report that Germany had…

Sabotage Of Nigerian Pipeline Causes Force Majeure

Sabotage Of Nigerian Pipeline Causes Force Majeure

Apr 24, 2019 at 17:50 | Julianne Geiger

Nigerian firm Aiteo Oil Exploration and Production Company, has discovered that sabotage was the cause of the fire that caused Nigeria’s oil production to fall 8% per day, creating…

Opposition Leader Juan Guaido May Be On the Hook for Citgo “Theft”: Maduro

Opposition Leader Juan Guaido May Be On the Hook for Citgo “Theft”: Maduro

Apr 24, 2019 at 17:40 | Julianne Geiger

Disputed Venezuelan President Nicolas Maduro has publicly criticized the “theft” of its state-owned and US-based refining operations, Citgo, in a radio broadcast on Tuesday, adding that those responsible of this…

Equinor Kowtows To Investors Over Climate Issues

Equinor Kowtows To Investors Over Climate Issues

Apr 24, 2019 at 17:32 | Julianne Geiger

Per shareholder prodding, Equinor will review its existing climate targets through 2030, and will come up with new ones for 2030 and beyond, and will tie executive and employee…

Ford Invests $500M In Tesla Rival

Ford Invests $500M In Tesla Rival

Apr 24, 2019 at 12:29 | Tsvetana Paraskova

Ford Motor Company is investing US$500 million in Rivian, an electric vehicle (EV) developer which is considered to be a potential future rival to Tesla. Ford, one of Detroit’s Big…

Cenovus Praises “Positive Impact” From Alberta’s Oil Cuts

Cenovus Praises “Positive Impact” From Alberta’s Oil Cuts

Apr 24, 2019 at 11:25 | Tsvetana Paraskova

Cenovus Energy, the first major Canadian oil firm to report Q1 figures and one of the early proponents of a production curtailment in Alberta, said on Wednesday that the…

Sonatrach CEO Ousted As Energy Crisis Deepens In Algeria

Sonatrach CEO Ousted As Energy Crisis Deepens In Algeria

Apr 24, 2019 at 11:05 | Irina Slav

The future of Algeria’s energy industry just got a little more murky as the interim president of the country fired the chief executive of Sonatrach and replaced him with the…

Trudeau’s Government To Decide On Trans Mountain Pipeline By June

Trudeau’s Government To Decide On Trans Mountain Pipeline By June

Apr 24, 2019 at 10:40 | Irina Slav

The federal government of Canada will announce its final decision on the Trans Mountain pipeline expansion project in mid-June, Finance Minister Marc Garneau told media. Interestingly, the decision may be…

IEA: OPEC’s Spare Production Capacity Reaches 3.3 Million Bpd

IEA: OPEC’s Spare Production Capacity Reaches 3.3 Million Bpd

Apr 24, 2019 at 07:32 | Julianne Geiger

OPEC’s spare capacity has reached 3.3 million barrels per day, according to an International Energy Agency (IEA) statement on the global oil markets released on Tuesday. “As a result…

Oil Wobbles After API Reports Crude, Gasoline Build

Oil Wobbles After API Reports Crude, Gasoline Build

Apr 23, 2019 at 15:54 | Julianne Geiger

The American Petroleum Institute (API) reported a build in crude oil inventory of 6.86 million barrels for the week ending April 19, coming in over analyst expectations of a

Putin Loses Popularity As He Raises Taxes And Rewards Oil Companies

Putin Loses Popularity As He Raises Taxes And Rewards Oil Companies

Apr 23, 2019 at 15:13 | Julianne Geiger

Mock headstones for President Vladimir Putin are the latest signal that Russian citizens are unhappy with this year’s tax hikes, according to Meduza,, with Putin’s polling numbers taking…

Apache Shuts In Permian Gas Production As Prices Crash

Apache Shuts In Permian Gas Production As Prices Crash

Apr 23, 2019 at 15:08 | Tsvetana Paraskova

Apache Corporation said on Tuesday that it had temporarily started to delay natural gas production at its Alpine High play in the Permian in late March to mitigate the…

Egypt's Oil & Gas Success Has Increased El-Sisi's Power

Egypt's Oil & Gas Success Has Increased El-Sisi's Power

Apr 23, 2019 at 12:39 | Tsvetana Paraskova

Egypt is set to announce on April 27 whether President Abdel-Fattah el-Sisi can extend his term in office from 2022 to 2030 under constitutional changes put to a controversial…

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