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U.S. Sanctions on Venezuela Snap Back Into Place

U.S. Sanctions on Venezuela Snap Back Into Place

The U.S. has reimposed sanctions…

Oil Traders Hedge Geopolitical Risk With Record Options

Oil Traders Hedge Geopolitical Risk With Record Options

Call options are currently trading…

Standard Chartered Says Peak Oil Demand Is Not Imminent

Standard Chartered Says Peak Oil Demand Is Not Imminent

Standard Chartered has predicted global…

News

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…

Quakes In Surrey Unlikely To Be Result Of Oil Drilling

Quakes In Surrey Unlikely To Be Result Of Oil Drilling

Oct 16, 2018 at 11:11 | Irina Slav

A British seismologist has suggested the recent series of earthquakes in Surrey had no causal link to oil drilling activities being carried out in the region. Surrey Live quoted…

200 Dead In Nigeria Oil Pipeline Blast

200 Dead In Nigeria Oil Pipeline Blast

Oct 16, 2018 at 08:21 | Irina Slav

The number of casualties after an oil product pipeline explosion in Nigeria has reached 200, local media report, as people from local communities have gathered to protest the negligence…

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…

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