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News

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…

Russia Wanted To Load Riot Gear On Venezuela-Bound Warship In Malta

Russia Wanted To Load Riot Gear On Venezuela-Bound Warship In Malta

Apr 18, 2019 at 15:36 | Tsvetana Paraskova

Russian diplomats have tried to buy riot gear in Malta and allegedly load it on a warship en route to Venezuela, in a move that raises concerns in the EU…

Brazil To Put Up New Pre-Salt Oil Blocks For Auction In October

Brazil To Put Up New Pre-Salt Oil Blocks For Auction In October

Apr 18, 2019 at 14:33 | Irina Slav

Brazil will hold an offshore oil deposit auction in October featuring blocks that were the object of a long-running dispute with state energy giant Petrobras. Reuters reports, citing Economy…

Saudi Oil Exports Fall Below 7 Million Bpd In February

Saudi Oil Exports Fall Below 7 Million Bpd In February

Apr 18, 2019 at 14:06 | Tsvetana Paraskova

Saudi Arabia continued to slash its oil exports as this year progressed, with February crude shipments dropping by 227,000 bpd from January to just below 7 million bpd, as the…

Ocasio-Cortez Releases Puzzling Green New Deal Video

Ocasio-Cortez Releases Puzzling Green New Deal Video

Apr 18, 2019 at 12:17 | Irina Slav

Congresswoman Alexandria Ocasio-Cortez yesterday released a cartoon video with an overview of the Green New Deal she spearheaded in Congress in a bid to arrest the progress of what…

New Alberta Premier Directly Threatens B.C. Over Pipelines

New Alberta Premier Directly Threatens B.C. Over Pipelines

Apr 18, 2019 at 09:33 | Irina Slav

Alberta’s new Premier-designate Jason Kenney has wasted no time in launching his energy agenda: he plans to address British Columbia’s opposition to oil pipeline projects by threatening to turn off…

Venezuela Just Lost One of Its Largest Fuel Suppliers

Venezuela Just Lost One of Its Largest Fuel Suppliers

Apr 17, 2019 at 17:03 | Julianne Geiger

Spanish Repsol is suspending fuel shipments to Venezuela due to fears that it could violate the US sanctions against the Latin American nation, according to Reuters. The fuel was…

How Low Can It Go? Angola’s Oil Exports To Hit Decade Low In June

How Low Can It Go? Angola’s Oil Exports To Hit Decade Low In June

Apr 17, 2019 at 16:11 | Julianne Geiger

Production outages and maintenance are set to push Angola’s oil exports to a 13-year low, according to an industry source quoted by Reuters.  There are just 38 oil cargoes scheduled…

Kuwait Could Add 400,000 Bpd Heavy Oil Output By January 2020

Kuwait Could Add 400,000 Bpd Heavy Oil Output By January 2020

Apr 17, 2019 at 15:35 | Tsvetana Paraskova

Kuwait will start this year the first phase of a heavy oil field production, aiming to boost heavy crude output to 430,000 bpd from 60,000 bpd by January, the official Kuwait…

Hundreds Dead, Injured As Fighting Escalates In Oil-Rich Libya

Hundreds Dead, Injured As Fighting Escalates In Oil-Rich Libya

Apr 17, 2019 at 15:28 | Tsvetana Paraskova

Since eastern strongman General Khalifa Haftar ordered his self-styled Libyan National Army (LNA) to march on Tripoli, almost 180 people have died and 800 others have been wounded in…

Egypt’s Huge Fuel Subsidy Cuts Could Spark Protests

Egypt’s Huge Fuel Subsidy Cuts Could Spark Protests

Apr 17, 2019 at 14:12 | Tsvetana Paraskova

Egypt plans to slash fuel and electricity subsidies in its 2019/2020 financial year, the finance ministry’s draft budget shows, but raising fuel prices closer to international levels could turn out…

Why Aramco Wants In On India’s Largest Refining Company

Why Aramco Wants In On India’s Largest Refining Company

Apr 17, 2019 at 12:05 | Tsvetana Paraskova

Saudi Arabia’s oil giant Aramco is in “serious discussions” to buy up to 25 percent of the refining and petrochemicals businesses of India’s largest company, Reliance Industries, The Times of…

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