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News

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…

Musk Makes Bold Promise On Robotaxis

Musk Makes Bold Promise On Robotaxis

Apr 23, 2019 at 11:37 | Tsvetana Paraskova

Tesla’s chief executive Elon Musk expects the electric vehicle (EV) maker to have robotaxis as early as next year, the manager said at the Tesla Autonomy Investor Day on…

Exxon Inks Large LNG Deal Despite China/US Trade Row

Exxon Inks Large LNG Deal Despite China/US Trade Row

Apr 23, 2019 at 11:05 | Irina Slav

Exxon has inked a contract with Chinese Zhejiang Energy for the supply of 1 million tons of liquefied natural gas annually, the supermajor said, adding the Chinese company will…

China’s Unipec To Receive First U.S. Oil Cargo Since September

China’s Unipec To Receive First U.S. Oil Cargo Since September

Apr 23, 2019 at 09:16 | Irina Slav

Chinese Unipec, the trading arm of state oil giant Sinopec, will this week receive the first cargo of U.S. crude since shipments were suspended last September, Reuters reports, citing…

U.S. Won’t Release SPR Barrels To Calm Oil Markets

U.S. Won’t Release SPR Barrels To Calm Oil Markets

Apr 22, 2019 at 17:04 | Julianne Geiger

The United States will not be dipping into its Strategic Petroleum Reserves (SPR) to calm unsettled markets today, according to S&P Global Platts sources who were commenting about rising…

The Newest Arctic Chokepoint In Oil & Gas Shipping

The Newest Arctic Chokepoint In Oil & Gas Shipping

Apr 22, 2019 at 17:00 | Julianne Geiger

The US Coast Guard identified a potential chokepoint in the Bering Strait thanks to increased oil and gas shipments, a new report showed on Monday. In a rather imperfect…

Halliburton Expects Offshore Oil Spending To Jump In 2019

Halliburton Expects Offshore Oil Spending To Jump In 2019

Apr 22, 2019 at 16:25 | Tsvetana Paraskova

Halliburton Company expects total global offshore spending to jump 14 percent this year, one of the world’s largest oilfield service providers said on Monday as it announced its Q1…

India Looks To Add 12 New Nuclear Power Stations

India Looks To Add 12 New Nuclear Power Stations

Apr 22, 2019 at 16:00 | Julianne Geiger

India will add 12 nuclear power stations to its lineup to shore up its power supply situation, the Department of Atomic Energy (DAE) said on Monday, according to The…

U.S. Home Prices Are Higher Near EV Charging Stations

U.S. Home Prices Are Higher Near EV Charging Stations

Apr 22, 2019 at 13:32 | Tsvetana Paraskova

House prices in the top U.S. ZIP codes for electric vehicles (EVs) are higher in areas in close proximity to EV charging stations than in the surrounding metro areas, a…

Key Nigerian Oil Export Pipeline Under Force Majeure After Fire Breaks Out

Key Nigerian Oil Export Pipeline Under Force Majeure After Fire Breaks Out

Apr 22, 2019 at 11:25 | Tsvetana Paraskova

The operator of the Nembe Creek Trunk Line—one of the two key pipelines of Nigeria’s Bonny Light crude grade capable of transporting 150,000 bpd to the export terminal—declared on…

Iran Threatens To Block Key Oil Chokepoint If It Can No Longer Export Crude

Iran Threatens To Block Key Oil Chokepoint If It Can No Longer Export Crude

Apr 22, 2019 at 10:49 | Tsvetana Paraskova

Iran will block the world’s most important chokepoint for global oil trade, the Strait of Hormuz, if Tehran is barred from using it to export its oil, Navy Rear Admiral…

Aramco To Buy Shell’s Stake In Refining JV

Aramco To Buy Shell’s Stake In Refining JV

Apr 22, 2019 at 09:45 | Irina Slav

Aramco will buy Shell’s stake in their jointly owned refining company SASREF for US$631 million as part of an ambitious expansion strategy for Aramco’s downstream business to secure markets…

Guaido Takes Strides To Topple Maduro

Guaido Takes Strides To Topple Maduro

Apr 19, 2019 at 16:59 | Julianne Geiger

The US-recognized interim president of Venezuela called on the country’s people to hold the “largest march in the history of Venezuela” to urge Nicolas Maduro to leave office as the…

Saudi, Russia Oil Cooperation “Here to Stay”

Saudi, Russia Oil Cooperation “Here to Stay”

Apr 19, 2019 at 16:55 | Julianne Geiger

Russia and Saudi Arabia’s cooperation is set to continue, Ibrahim al-Muhanna, Saudi energy advisor, said on Friday, in hopes of allaying the lingering fears that Russia is itching to get…

The Oil Giant Focusing Only On Africa

The Oil Giant Focusing Only On Africa

Apr 19, 2019 at 12:28 | Tsvetana Paraskova

The state oil company of OPEC member Angola, Sonangol, plans to sell off stakes in dozens of joint ventures and cut jobs in order to focus on its core…

‘’It’s Gonna Be A Long Runway” American EV Makers Face Major Problems

‘’It’s Gonna Be A Long Runway” American EV Makers Face Major Problems

Apr 19, 2019 at 10:47 | Irina Slav

Despite low fuel prices, scarce charging networks, and battery capacity problems, U.S. carmakers are forging ahead with their EV plans as regulatory pressure on the sector increases, Reuters reports,…

U.S. Refiners Gear Up For Busy Overhaul Season

U.S. Refiners Gear Up For Busy Overhaul Season

Apr 19, 2019 at 09:55 | Irina Slav

American refiners are preparing for a busy overhaul season in the second quarter of the year as the entry into effect of the new International Maritime Organization’s emission rules approaches.…

Maduro Channels Oil Sales Revenues To Russia

Maduro Channels Oil Sales Revenues To Russia

Apr 19, 2019 at 09:10 | Irina Slav

The Nicolas Maduro government is directing revenues from crude oil sales to Russia’s Rosneft as a way around U.S. sanctions, Reuters reports citing documents and unnamed sources. The Venezuelan…

U.S. Gulf Coast Crude Oil Imports Hit Lowest In Three Decades

U.S. Gulf Coast Crude Oil Imports Hit Lowest In Three Decades

Apr 18, 2019 at 17:50 | Tsvetana Paraskova

Imports of crude oil to the U.S. Gulf Coast dived to their lowest level in almost three decades last week, due to OPEC’s production cuts, unusually low Iraqi shipments,…

A Bad Sign For Tesla Bulls? Top Tesla Investor Slashes Stake

A Bad Sign For Tesla Bulls? Top Tesla Investor Slashes Stake

Apr 18, 2019 at 16:00 | Tsvetana Paraskova

Funds managed by T. Rowe Price, which was until recently the second-largest shareholder in Tesla after Elon Musk, significantly cut their holdings in the electric vehicle (EV) maker in the…

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