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Tokyo Tech Scientists Crack Hydrogen Storage Conundrum

Tokyo Tech Scientists Crack Hydrogen Storage Conundrum

Tokyo Institute of Technology researchers…

Pump Prices Set to Hit $4 a Gallon

Pump Prices Set to Hit $4 a Gallon

U.S. oil prices surpass $80…

U.S. Oil, Gas Drilling Activity Slows

U.S. Oil, Gas Drilling Activity Slows

The total number of active…

News

Growing U.S. Oil Exports Make WTI Nearly 24-Hour Benchmark

Growing U.S. Oil Exports Make WTI Nearly 24-Hour Benchmark

Oct 18, 2018 at 17:57 | Tsvetana Paraskova

The crude oil futures market has felt the rise of U.S. crude oil exports with growing volumes of West Texas Intermediate futures and options traded in Asian and European hours,…

BP Starts Up Gulf Of Mexico Expansion Project Earlier Than Planned

BP Starts Up Gulf Of Mexico Expansion Project Earlier Than Planned

Oct 18, 2018 at 17:27 | Tsvetana Paraskova

BP said on Thursday that it had started up ahead of schedule its Thunder Horse Northwest Expansion project in deepwater Gulf of Mexico, adding 30,000 bpd to the Thunder…

Iraq Transfers State Oil Firms Ownership To New National Oil Company

Iraq Transfers State Oil Firms Ownership To New National Oil Company

Oct 18, 2018 at 16:37 | Tsvetana Paraskova

Iraq’s Oil Minister Jabbar al-Luiebi decreed on Thursday the transfer of the ownership of nine state-held oil companies from the oil ministry to the newly formed National Oil Company,…

Poland Turns Back on Russia In Favor Of US LNG In 20-Yr Deal

Poland Turns Back on Russia In Favor Of US LNG In 20-Yr Deal

Oct 18, 2018 at 16:29 | Tsvetana Paraskova

Poland’s main gas firm PGNiG has signed a 20-year agreement with U.S. Venture Global LNG, under which the Polish energy firm will receive 2 million tons of U.S. liquefied…

Chinese City Retracts Story On Exxon’s $7B Ethylene Plant

Chinese City Retracts Story On Exxon’s $7B Ethylene Plant

Oct 18, 2018 at 11:57 | Irina Slav

The authorities of Zhoushan, an island city in eastern China, said they were in talks with Exxon on the construction of an ethylene plant worth US$7 billion, Reuters reported…

Oil Remains Outside Scope Of U.S. Sanctions For Venezuela

Oil Remains Outside Scope Of U.S. Sanctions For Venezuela

Oct 18, 2018 at 11:36 | Irina Slav

The United States is mulling over more sanctions against Venezuela, but crude oil exports will not be among the sanction subjects, Reuters reports, quoting a Washington official. The source…

Kinder Morgan Cancels Gas Pipeline Project

Kinder Morgan Cancels Gas Pipeline Project

Oct 18, 2018 at 10:29 | Irina Slav

Kinder Morgan has decided to shelve its Utica Marcellus Texas Pipeline project, the company said at the presentation of its third-quarter financial results. Instead, Kinder Morgan said, it will…

India’s Reliance Stops Importing Iranian Crude

India’s Reliance Stops Importing Iranian Crude

Oct 18, 2018 at 09:18 | Irina Slav

Reliance Industries has stopped importing Iranian crude oil ahead of U.S. sanctions against Tehran that enter into effect on November 4, a senior company official told Reuters. He added…

Saudis, Kuwait Fail To Agree On 500,000-Bpd Joint Oil Fields Restart

Saudis, Kuwait Fail To Agree On 500,000-Bpd Joint Oil Fields Restart

Oct 17, 2018 at 17:38 | Tsvetana Paraskova

Due to operational divergences and geopolitical divisions, Saudi Arabia and Kuwait haven’t made any progress in talks about the potential restart of jointly operated oil fields that analysts were hoping…

Europe’s Fuel Oil Traders Wary Of Closing 2019 Deals

Europe’s Fuel Oil Traders Wary Of Closing 2019 Deals

Oct 17, 2018 at 17:28 | Tsvetana Paraskova

Traders in Europe are not rushing to the 2019 tenders for fuel oil, expecting wild price volatility in the prices of both high-sulfur and low-sulfur fuel oil next…

Kuwait Prices New Super Light Crude Above Saudi Arab Extra Light

Kuwait Prices New Super Light Crude Above Saudi Arab Extra Light

Oct 17, 2018 at 17:10 | Tsvetana Paraskova

Kuwait Petroleum Corp (KPC) has set the official selling prices (OSPs) for its new Super Light Crude grade at a premium to a similar Saudi grade for October and November,…

Saudi Arabia Lifts West Coast Oil Export Capacity By 3 Million Bpd

Saudi Arabia Lifts West Coast Oil Export Capacity By 3 Million Bpd

Oct 17, 2018 at 16:01 | Tsvetana Paraskova

Saudi Arabia has added 3 million bpd of oil export capacity to its West Coast on the Red Sea after the upgrade of Saudi Aramco’s Yanbu South Terminal, the state…

OPEC Tells Members Not To Mention Oil Price To Avoid U.S. Legal Risk

OPEC Tells Members Not To Mention Oil Price To Avoid U.S. Legal Risk

Oct 17, 2018 at 12:03 | Tsvetana Paraskova

OPEC has urged all its members not to mention specific oil prices, to instead stick to the ‘market stability’ narrative in public comments about oil policies to avoid the risk…

New Tax Credit Proposal Could Lift Tesla, GM Stock

New Tax Credit Proposal Could Lift Tesla, GM Stock

Oct 17, 2018 at 11:37 | Irina Slav

Nevada Senator Dean Heller has proposed lifting the tax credit ceiling for electric cars, Reuters reports, citing the text of the proposal, which has not yet been made public.…

Higher Crude Breakeven Costs Slow Qatari Diversification

Higher Crude Breakeven Costs Slow Qatari Diversification

Oct 17, 2018 at 10:48 | Irina Slav

The breakeven price for Qatari crude oil has risen to US$47.10 per barrel this year from US$24.20 a barrel ten years ago, a Gulf think-tank has calculated. The Gulf Times…

BC May Feel Nat Gas Shortages Into The New Year After Pipeline Explosion

BC May Feel Nat Gas Shortages Into The New Year After Pipeline Explosion

Oct 17, 2018 at 09:23 | Tsvetana Paraskova

As the timeline for repair works on Enbridge’s ruptured gas pipeline remains uncertain, British Columbia may experience natural gas shortages for months and well into the winter, and such…

Oil Prices Rise After API Reports Surprise Crude Oil Draw

Oil Prices Rise After API Reports Surprise Crude Oil Draw

Oct 16, 2018 at 15:55 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise draw of 2.13 million barrels of United States crude oil inventories for the week ending October 12, compared to analyst expectations that…

Mexico’s Incoming President Presses Big Oil To Start Pumping From Recent Finds

Mexico’s Incoming President Presses Big Oil To Start Pumping From Recent Finds

Oct 16, 2018 at 13:54 | Tsvetana Paraskova

Mexico wants Big Oil to start producing from the recently discovered oil fields in Mexico as soon as possible, incoming President Andrés Manuel López Obrador told foreign executives at a…

Refinery Official Sees India Getting U.S. Waiver For Iran Oil Imports

Refinery Official Sees India Getting U.S. Waiver For Iran Oil Imports

Oct 16, 2018 at 13:19 | Tsvetana Paraskova

Mangalore Refinery and Petrochemicals, a subsidiary of India’s Oil and Natural Gas Corporation (ONGC), expects India to receive this month a waiver from the U.S. sanctions on Iranian oil,…

Top UK Firms Pledge Hundreds Of Millions Of Pounds To Fight Climate Change

Top UK Firms Pledge Hundreds Of Millions Of Pounds To Fight Climate Change

Oct 16, 2018 at 12:24 | Tsvetana Paraskova

Major UK companies, including banks and retailers, are pledging to invest hundreds of millions of British pounds to cut their carbon footprint and to support new energies, the UK government…

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