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News

Nigeria Shuts Key Gasoline Pipeline After Fire Kills Dozens

Nigeria Shuts Key Gasoline Pipeline After Fire Kills Dozens

Oct 16, 2018 at 08:15 | Tsvetana Paraskova

The Nigerian National Petroleum Corporation (NNPC) has shut down a key oil product pipeline after late last week a fire broke out along the pipeline route, which the company…

Libya’s Oil Firm May Halt Zawiya Refinery Due To Insecurity

Libya’s Oil Firm May Halt Zawiya Refinery Due To Insecurity

Oct 16, 2018 at 08:10 | Tsvetana Paraskova

Libya’s National Oil Corporation (NOC) warned on Sunday that it could suspend operations at the Zawiya oil refinery if competent authorities fail to address recent security incidents at the…

India Set To Miss Its 2022 Renewable Energy Targets

India Set To Miss Its 2022 Renewable Energy Targets

Oct 15, 2018 at 12:56 | Tsvetana Paraskova

Although government support of renewables in India remains strong, the country faces “a myriad of challenges,” which will likely result in India falling short of its own renewable energy targets…

Protesters Block Site Where Fracking In UK Resumes After 7 Years

Protesters Block Site Where Fracking In UK Resumes After 7 Years

Oct 15, 2018 at 12:03 | Tsvetana Paraskova

Protesters gathered on Monday morning outside a drilling site in northwest England, where fracking is returning for the first time in seven years, after a last-minute request for…

China's Teapots To Raise Oil Imports 24% This Month

China's Teapots To Raise Oil Imports 24% This Month

Oct 15, 2018 at 11:02 | Irina Slav

China’s independent refiners will probably increase their intake of foreign oil by 23.9 percent to 2.1 million bpd this month, a survey by S&P Global Platts has shown, thanks…

GOM Oil And Gas Production Rebounds After Michael

GOM Oil And Gas Production Rebounds After Michael

Oct 15, 2018 at 08:58 | Irina Slav

Oil and gas production in the Gulf of Mexico has started recovering after hurricane Michael, the Bureau of Safety and Environmental Enforcement said. With evacuated personnel now back to…

India Yet To Figure Out Way To Pay for Iranian Oil Imports

India Yet To Figure Out Way To Pay for Iranian Oil Imports

Oct 12, 2018 at 16:54 | Tsvetana Paraskova

India hasn’t worked out yet a payment system for continued purchases of crude oil from Iran, Subhash Chandra Garg, economic affairs secretary at India’s finance ministry, said on Friday.…

China’s LPG Import Costs Rise On Trade War, Iran Sanctions

China’s LPG Import Costs Rise On Trade War, Iran Sanctions

Oct 12, 2018 at 16:49 | Tsvetana Paraskova

China’s importers of liquefied petroleum gas (LPG) have started to pay higher prices for procuring the fuel in recent months, as Chinese buyers are looking to source LPG from suppliers…

China’s Car Sales Slump Amid Sluggish Economy, Trade War

China’s Car Sales Slump Amid Sluggish Economy, Trade War

Oct 12, 2018 at 15:45 | Tsvetana Paraskova

China’s total automobile sales dropped by 11.6 percent to 2.39 million units in September, the steepest drop since January 2012, due to slowing economic growth, pollution crackdown, and the…

Fracking In UK Resumes After 7 Years As Legal Challenge Fails

Fracking In UK Resumes After 7 Years As Legal Challenge Fails

Oct 12, 2018 at 13:54 | Tsvetana Paraskova

Fracking in the UK is resuming on Saturday for the first time since 2011—when it was linked to earthquakes—after a court dismissed on Friday a last-minute request for an…

Ecuador, Peru To Join Forces On Shared Oil, Gas Fields

Ecuador, Peru To Join Forces On Shared Oil, Gas Fields

Oct 12, 2018 at 12:57 | Irina Slav

Ecuador and Peru may jointly explore oil and gas resources that the two neighboring countries share, Reuters reports, citing Ecuador’s energy minister, Carlos Perez. Perez also said that the partnership…

U.S. Tries Again: Talks With India On Iranian Oil Imports

U.S. Tries Again: Talks With India On Iranian Oil Imports

Oct 12, 2018 at 11:12 | Irina Slav

Washington and New Delhi will once again discuss Iranian oil imports into the world’s fastest-growing consumer today, S&P Global Platts reports, adding that the two Washington officials who will…

Trump Warns China Nuclear Tech Exports Will Shrink

Trump Warns China Nuclear Tech Exports Will Shrink

Oct 12, 2018 at 09:32 | Irina Slav

President Trump has warned China that Washington is taking measures to curb the exporting of nuclear technology to China, adding that Americans were not “stupid”, AFP reports as the…

India’s Iranian Oil Imports Inch Up In September

India’s Iranian Oil Imports Inch Up In September

Oct 11, 2018 at 17:59 | Tsvetana Paraskova

India imported 528,000 bpd of Iranian oil in September, up by 1 percent from August, due to delays of some August cargoes until Indian refiners received the government nod to…

Canadian Oil Firms On US$7.7B Spending Spree

Canadian Oil Firms On US$7.7B Spending Spree

Oct 11, 2018 at 17:57 | Tsvetana Paraskova

Canadian oil and gas companies agreed to or proposed deals worth more than US$7.7 billion (C$10 billion) just in the past week and a half, tempted by lower price…

Oil Tanker Rates To Asia Hit 2018 High

Oil Tanker Rates To Asia Hit 2018 High

Oct 11, 2018 at 13:36 | Tsvetana Paraskova

Freight rates for Aframax tankers to Asia have reached their highest level so far this year, as China’s small refiners received new crude import quotas and as Asian refiners are…

OPEC Continues To Cut Oil Demand Growth Forecasts

OPEC Continues To Cut Oil Demand Growth Forecasts

Oct 11, 2018 at 13:24 | Tsvetana Paraskova

OPEC has revised down its oil demand growth estimates for this year and next—a third downward revision in as many months—citing potential headwinds to global economic growth ranging from trade…

China Replaces Venezuelan Oil With Canadian Imports

China Replaces Venezuelan Oil With Canadian Imports

Oct 11, 2018 at 11:58 | Tsvetana Paraskova

Chinese refiners are buying more and more very cheap heavy Canadian crude oil to make up for the dwindling supply of Venezuela’s heavy grades as China’s road construction sector—a key…

Hurricane Michael Shutters 700,000 Bpd Of Oil Production

Hurricane Michael Shutters 700,000 Bpd Of Oil Production

Oct 11, 2018 at 09:36 | Irina Slav

Hurricane Michael hit the Florida Panhandle with winds of 155 mph yesterday and is now moving north, albeit as a weaker, tropical storm. The hurricane shut…

Pipeline Explosion Causes Gas Shortage In British Colombia

Pipeline Explosion Causes Gas Shortage In British Colombia

Oct 11, 2018 at 09:05 | Irina Slav

A gas pipeline explosion that led to the evacuation of 100 people on Tuesday is now forcing the residents of British Columbia and the state of Washington to cut their…

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