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Geopolitical Tensions Fail to Spark Oil Price Surge

Geopolitical Tensions Fail to Spark Oil Price Surge

The fluctuating prices in response…

How Iraq Continues To Trick Washington

How Iraq Continues To Trick Washington

The U.S. government has multiple…

China's Capital Flight Could Fuel Bitcoin’s Next Rally

China's Capital Flight Could Fuel Bitcoin’s Next Rally

Chinese FX outflows, often underreported…

News

Tehran Vows ‘Counteractions’ As Tensions Grow

Tehran Vows ‘Counteractions’ As Tensions Grow

May 07, 2019 at 13:17 | Tsvetana Paraskova

Iran is hinting that it could announce as early as on Wednesday reduced compliance under the so-called Iran nuclear deal in “counteractions” against the maximum pressure campaign of the…

Canada Set To Okay Trans Mountain Oil Pipeline Expansion  

Canada Set To Okay Trans Mountain Oil Pipeline Expansion  

May 07, 2019 at 13:08 | Tsvetana Paraskova

Canada’s federal government is likely to announce in mid-June that it would be proceeding with the controversial expansion of the Trans Mountain oil pipeline designed to double the pipeline flow…

U.S. Energy Secretary: Saudis Ramp Up Output To Offset Losses From Iran   

U.S. Energy Secretary: Saudis Ramp Up Output To Offset Losses From Iran   

May 07, 2019 at 12:48 | Tsvetana Paraskova

Saudi Arabia is raising its crude oil production to meet market demand after the U.S. sanction waivers for all Iranian customers ended last week, according to the U.S. Secretary of…

U.S. Court Grants PDVSA Respite In Legal Battle With Hedge Fund

U.S. Court Grants PDVSA Respite In Legal Battle With Hedge Fund

May 07, 2019 at 11:39 | Irina Slav

A U.S. court has granted a stay of 120 days in a legal case that a hedge fund brought against Venezuela’s state-owned oil company PDVSA for unpaid debt amount to…

U.S. Energy Department To Have The World’s Fastest Supercomputer In 2021

U.S. Energy Department To Have The World’s Fastest Supercomputer In 2021

May 07, 2019 at 11:28 | Tsvetana Paraskova

The U.S. Department of Energy announced on Tuesday a multi-million contract to Cray Inc and AMD, who will build the world’s fastest supercomputer that will be delivered to Oak…

New Renewable Capacity Additions In 2018 Disappoint

New Renewable Capacity Additions In 2018 Disappoint

May 07, 2019 at 10:59 | Irina Slav

The rate of addition new renewable energy capacity globally last year disappointed by failing to register any increase on 2017, the International Energy Agency reported, adding that the finding…

Iranian Oil Pipeline Explodes

Iranian Oil Pipeline Explodes

May 07, 2019 at 09:11 | Irina Slav

An oil pipeline in the Iranian province of Khuzestan, exploded yesterday, TankerTrackers.com reported citing Iran’s state news agency IRNA and disclosing satellite images of the blast. According to the…

US Boosts Oil Imports from Iraq, Nigeria, Brazil, Angola

US Boosts Oil Imports from Iraq, Nigeria, Brazil, Angola

May 06, 2019 at 18:09 | Julianne Geiger

US refineries have upped their imports of Iraqi, Nigerian, Brazilian, and Angolan crude oil, with May volumes double that of April levels, data from Refinitiv Eikon showed on Monday.…

US Tells Turkey To Back Off Cyprus Provocative Oil Drilling

US Tells Turkey To Back Off Cyprus Provocative Oil Drilling

May 06, 2019 at 16:58 | Julianne Geiger

In its biggest provocation yet, Turkey has sent its Fatih drilling ship into Cypriot waters, launching drilling operations that have prompted a response from the U.S. and a Greek Cypriot…

South Sudan, South Africa Ink Oil Deal

South Sudan, South Africa Ink Oil Deal

May 06, 2019 at 16:07 | Julianne Geiger

South Sudan and South Africa have inked an exploration and production sharing deal for oil in a sign that South Sudan is well on its way to put its…

U.S. Works To Ensure Alternative Oil Supply To India

U.S. Works To Ensure Alternative Oil Supply To India

May 06, 2019 at 15:21 | Tsvetana Paraskova

The United States is working with oil producers like Saudi Arabia and the United Arab Emirates (UAE) to ensure India has enough crude supply after the end of all sanction…

Israel Shut Down Its Only Natural Gas Field Amid Rocket Fire From Gaza

Israel Shut Down Its Only Natural Gas Field Amid Rocket Fire From Gaza

May 06, 2019 at 11:47 | Tsvetana Paraskova

Israel’s Energy Minister Yuval Steinitz ordered on Sunday that the country’s only operating natural gas field, the offshore Tamar field, be closed as a precaution after violence between militants…

Oxy Offers 80% Cash For Anadarko

Oxy Offers 80% Cash For Anadarko

May 06, 2019 at 09:09 | Irina Slav

Occidental Petroleum has updated the terms of its bid for Anadarko by saying it will pay 80 percent of the US$38 billion it is offering in cash, negating the need…

Russia To Cut More Oil Production As Exports Restricted

Russia To Cut More Oil Production As Exports Restricted

May 03, 2019 at 16:03 | Julianne Geiger

Russia’s oil production will be cut by another 1 million barrels per day over the next week after its oil exports were restricted due to contamination issues, according to…

Indonesia Struggles To Keep Investments As Shell Looks To Exit LNG Project

Indonesia Struggles To Keep Investments As Shell Looks To Exit LNG Project

May 03, 2019 at 15:16 | Tsvetana Paraskova

Shell is seeking to sell its minority stake in a liquefied natural gas (LNG) project in Indonesia, hoping to get US$1 billion for its 35-percent interest in the US$15-billion project,…

Prepare For Battery Metal Shortage: Tesla

Prepare For Battery Metal Shortage: Tesla

May 03, 2019 at 11:56 | Irina Slav

A shortage of nickel, copper, and other metals used in electric car batteries is looming, according to a Tesla executive, quoted by two unnamed Reuters

Poland, Czech Republic, Hungary Tap 8 Million Barrels Oil Reserves

Poland, Czech Republic, Hungary Tap 8 Million Barrels Oil Reserves

May 03, 2019 at 10:43 | Tsvetana Paraskova

Hungary, Poland, and the Czech Republic are releasing a total of 8 million barrels from their respective strategic petroleum reserves to keep refineries operating after contaminated crude forced the shutdown…

Venezuela Keeps Oil Exports Stable In April

Venezuela Keeps Oil Exports Stable In April

May 03, 2019 at 09:06 | Irina Slav

Despite an escalating situation in Venezuela, oil exports from the country remained perhaps surprisingly stable in April, at an average daily rate of 1.06 million barrels, Reuters reports, citing…

Iran Readies For Attack As US Waivers On Iranian Oil Expire

Iran Readies For Attack As US Waivers On Iranian Oil Expire

May 02, 2019 at 17:43 | Julianne Geiger

Iran’s armed forces should prepare as if an attack were imminent, General Abdolrahim Mousavi instructed on Thursday just as the US waivers on Iranian crude oil sanctions expired, according to…

Turkey Can’t Fill Oil Void Left By U.S. Sanctions On Iran

Turkey Can’t Fill Oil Void Left By U.S. Sanctions On Iran

May 02, 2019 at 17:20 | Julianne Geiger

Turkey will not be able to “quickly” source oil from alternate sources after the US ended the waivers previously extended to Turkey for the purchase of Iranian oil, Turkish…

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