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News

Will The U.S. Seek Zero Iranian Oil Exports Once Waivers Expire?

Will The U.S. Seek Zero Iranian Oil Exports Once Waivers Expire?

Jan 16, 2019 at 13:32 | Tsvetana Paraskova

Despite the fact that the U.S. is not looking to grant any waivers to Iranian oil customers when the current ones expire in early May, it shouldn’t be taken for…

Chevron’s Gorgon Outage Set To Boost Asian LNG Prices

Chevron’s Gorgon Outage Set To Boost Asian LNG Prices

Jan 16, 2019 at 12:33 | Tsvetana Paraskova

Chevron Corporation has temporarily suspended train 3 of its Gorgon liquefied natural gas (LNG) plant in Australia—a development expected to boost Asian LNG prices that hit an eight-month low…

Two New Supermajors Join Vakt Blockchain Platform

Two New Supermajors Join Vakt Blockchain Platform

Jan 16, 2019 at 12:04 | Safehaven.com

Total and Chevron have joined the Vakt blockchain-based trading platform that BP and Shell launched last year, Reuters reports, adding that India’s refining giant Reliance Industries also signed up…

B.C. Carbon Footprint Grows Despite Environmental Lobby

B.C. Carbon Footprint Grows Despite Environmental Lobby

Jan 16, 2019 at 09:13 | Irina Slav

The carbon footprint of British Columbia is growing and has been growing for the last eight years despite a strong environmentalist lobby,  , the latest provincial government data suggests. The…

Oil Prices Stabilize After API Reports Minor Crude Draw

Oil Prices Stabilize After API Reports Minor Crude Draw

Jan 15, 2019 at 16:14 | Julianne Geiger

The American Petroleum Institute (API) reported a crude oil inventory draw of 650,000 barrels for the week ending Jan 11, compared to analyst expectations that we would see a draw…

Absent Elon Musk Named ‘Disruptor Of The Year’ At Detroit Auto Show

Absent Elon Musk Named ‘Disruptor Of The Year’ At Detroit Auto Show

Jan 15, 2019 at 13:12 | Tsvetana Paraskova

Although Tesla is not present at the 2019 North American International Auto Show in Detroit this year, Elon Musk has been awarded the ‘Disruptor of the Year’ Award at…

First U.S. Crude Oil In Months Heads To China

First U.S. Crude Oil In Months Heads To China

Jan 15, 2019 at 12:55 | Tsvetana Paraskova

Three U.S. crude oil cargoes are currently headed to China in what could be the first Chinese purchase of American crude since the trade war escalated last summer and since…

Saudis Plan To Link UAE, Kuwait, Oman In Regional Gas Grid

Saudis Plan To Link UAE, Kuwait, Oman In Regional Gas Grid

Jan 15, 2019 at 12:36 | Tsvetana Paraskova

Saudi Arabia is discussing the possibility to have one interconnected natural gas grid in the region that would exchange gas and export the Kingdom’s gas to the United Arab…

Norway’s Exclusive Claim Over Arctic Oil Exploration At Stake In Crab Case

Norway’s Exclusive Claim Over Arctic Oil Exploration At Stake In Crab Case

Jan 15, 2019 at 11:33 | Irina Slav

Norway’s exclusive right to explore for oil and gas in parts of its continental shelf are at stake in a fascinating Supreme Court case focused on a marine species: the…

Saudi Oil Minister Expects Recession But Isn’t Worried About Oil Prices

Saudi Oil Minister Expects Recession But Isn’t Worried About Oil Prices

Jan 15, 2019 at 11:20 | Irina Slav

A global recession is a possibility but it will hardly have a serious effect on the economy, Saudi Arabia’s top oil man, Khalid al-Falih, said at the Future Sustainability Summit taking…

Alberta Premier Loses Patience With Federal Government

Alberta Premier Loses Patience With Federal Government

Jan 15, 2019 at 07:38 | Irina Slav

"Albertans still need the federal government to step up and support the industry while we are trying to get through this ridiculousness of having not enough capacity to get our…

U.S. Steps Up Rhetoric Over Nord Stream 2 Pipeline

U.S. Steps Up Rhetoric Over Nord Stream 2 Pipeline

Jan 14, 2019 at 14:45 | Tsvetana Paraskova

U.S. Ambassador to Germany Richard Grenell has sent a letter to several German companies, warning them that they could face sanctions if they continue to work on the Russia-led…

Platts Plans To Reform Dated Brent Crude Oil Benchmark

Platts Plans To Reform Dated Brent Crude Oil Benchmark

Jan 14, 2019 at 14:38 | Tsvetana Paraskova

In a bid to boost the liquidity of the Brent international crude oil benchmark, S&P Global Platts plans to reform the way Dated Brent is being assessed as of November…

Top Dutch Court To Rule On Groningen Gas Field Suspension

Top Dutch Court To Rule On Groningen Gas Field Suspension

Jan 14, 2019 at 14:36 | Tsvetana Paraskova

The top administrative court of the Netherlands will hear on Thursday two urgent requests to halt gas production at the giant Groningen field, but the ruling is not expected to…

OPEC To Publish Quotas For New Production Cut Deal

OPEC To Publish Quotas For New Production Cut Deal

Jan 14, 2019 at 14:13 | Tsvetana Paraskova

OPEC plans to publish this week the quotas for individual countries under the new OPEC/non-OPEC production cut deal agreed upon on December 7 and in force since January 1, an…

Zimbabwe Now Has The Most Expensive Gasoline In The World

Zimbabwe Now Has The Most Expensive Gasoline In The World

Jan 14, 2019 at 13:46 | Tsvetana Paraskova

Zimbabwe is on a three-day nationwide strike and protests are erupting in the streets after the government of the southern African country doubled fuel prices, making gasoline sold in…

Iran Feeling Economic Isolation From U.S. Sanctions

Iran Feeling Economic Isolation From U.S. Sanctions

Jan 14, 2019 at 13:14 | Irina Slav

The United States has no intention of granting any further sanction waivers to Iran crude oil buyers, the U.S. special representative for Iran, Brian Hook, said this weekend, as

Saudis Rush To Meet Japan’s Oil Needs

Saudis Rush To Meet Japan’s Oil Needs

Jan 14, 2019 at 12:47 | Tsvetana Paraskova

Saudi Energy Minister Khalid al-Falih discussed on Monday how Saudi Arabia could meet Japan’s petroleum requirements in a meeting with the Japanese minister for economy and trade. The two…

Saudi Oil Minister: Aramco Set To Go Public In 2021

Saudi Oil Minister: Aramco Set To Go Public In 2021

Jan 14, 2019 at 11:51 | Irina Slav

Saudi Aramco is on track to become a public company in 2021, Energy Minister Khalid al-Falih said during an oil conference in Abu Dhabi. Gulf News quoted the official…

Plunging Gasoline Prices Lead To First U.S. Consumer Price Drop In Nine Months

Plunging Gasoline Prices Lead To First U.S. Consumer Price Drop In Nine Months

Jan 14, 2019 at 09:29 | Tsvetana Paraskova

U.S. consumer prices inched down by 0.1 percent in December, due to a sharp decline in gasoline futures, the U.S. Bureau of Labor Statistics said on Friday, reporting the…

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