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Iraq Has No Intention of Restarting Kurdish Oil Pipeline

Iraq Has No Intention of Restarting Kurdish Oil Pipeline

Baghdad is repairing the Kirkuk-Ceyhan…

Iraq Hopes to Expand Economic Relationship With the U.S.

Iraq Hopes to Expand Economic Relationship With the U.S.

Sudani wants to strengthen Baghdad’s…

News

India’s Currency Hits Record Low Vs. Dollar On Rising Oil Prices

India’s Currency Hits Record Low Vs. Dollar On Rising Oil Prices

Aug 30, 2018 at 16:27 | Tsvetana Paraskova

India’s currency, the rupee, hit a new record low against the U.S. dollar on Thursday on the back of rising oil prices, end-month demand for dollars, and concerns about…

Partial Port Closure May Further Delay Venezuela’s Oil Cargoes

Partial Port Closure May Further Delay Venezuela’s Oil Cargoes

Aug 30, 2018 at 16:19 | Tsvetana Paraskova

The closure of a dock at a key Venezuelan port could delay the shipment of around 5 million barrels of Venezuelan crude oil to Russia’s Rosneft, adding to Venezuela’s troubles…

Denmark Becomes Net Oil Importer For First Time In 25 Years

Denmark Becomes Net Oil Importer For First Time In 25 Years

Aug 30, 2018 at 16:08 | Tsvetana Paraskova

For the first time since 1993, Denmark is on track to become a net oil importer this year, as oil production in the Danish part of the North Sea will…

Higher Oil Prices Boost PetroChina’s Profit To Three-Year-High

Higher Oil Prices Boost PetroChina’s Profit To Three-Year-High

Aug 30, 2018 at 13:27 | Tsvetana Paraskova

Like the other Chinese state oil majors, PetroChina—the country’s largest oil and gas producer—has also benefited from the higher crude oil prices and strong refining margins this year, reporting doubled…

BP, Shell, Total To Bid In Brazil’s Pre-Salt Oil Auction In September

BP, Shell, Total To Bid In Brazil’s Pre-Salt Oil Auction In September

Aug 30, 2018 at 11:41 | Tsvetana Paraskova

Brazil’s oil regulator ANP has approved the applications of six companies—including Big Oil’s BP, Shell, and Total—to bid in next month’s oil auction of four blocks in the coveted pre-salt…

Dyson Turns UK Airfield Into Track To Test Its New Electric Vehicle

Dyson Turns UK Airfield Into Track To Test Its New Electric Vehicle

Aug 30, 2018 at 09:49 | Tsvetana Paraskova

Dyson, the company founded by Sir James Dyson—the British billionaire inventor of the bagless vacuum cleaner—announced plans on Thursday to build a test track on a renovated historic airfield…

Iraq Itching To Boost Oil Exports, Seize Iranian Market Share

Iraq Itching To Boost Oil Exports, Seize Iranian Market Share

Aug 29, 2018 at 18:09 | Julianne Geiger

Iraq is waiting in the wings, ready to increase its crude oil exports in anticipation of slipping Iranian oil exports waiting only on the go-ahead from OPEC, acting director-general of…

Senior Official: India “Definitely” Not Going To Zero Iranian Oil Imports

Senior Official: India “Definitely” Not Going To Zero Iranian Oil Imports

Aug 29, 2018 at 17:53 | Tsvetana Paraskova

India will “definitely” not cut off entirely its crude oil imports from Iran, but it expects to have more clarity on its oil purchasing strategy amid the U.S. sanctions on…

China’s Sinopec Snubs Geopolitics, Looks To Diversify Crude Sourcing

China’s Sinopec Snubs Geopolitics, Looks To Diversify Crude Sourcing

Aug 29, 2018 at 17:03 | Tsvetana Paraskova

Despite the ongoing U.S.-China trade war and the upcoming U.S. sanctions on Iran’s oil exports, China’s and Asia’s biggest refiner, Sinopec, will continue to buy crude oil from both the…

First Delivery Through China’s Oil Futures Set For September

First Delivery Through China’s Oil Futures Set For September

Aug 29, 2018 at 15:32 | Tsvetana Paraskova

In the first physical settlement of the Chinese yuan-denominated oil futures contract, five companies will deliver a total of 600,000 barrels of Middle Eastern crude grades to buyers of the…

Oil Manager: Nigeria Could Lose OPEC Status If It Signs New Oil Bill

Oil Manager: Nigeria Could Lose OPEC Status If It Signs New Oil Bill

Aug 29, 2018 at 14:05 | Tsvetana Paraskova

While Nigeria’s President Muhammadu Buhari is said to be withholding signing the country’s new petroleum bill into law over concerns that it strips the president of powers over the industry,…

Ford Asked If Police EVs Could Be Exempt From Obligatory Noise Rule

Ford Asked If Police EVs Could Be Exempt From Obligatory Noise Rule

Aug 29, 2018 at 12:58 | Tsvetana Paraskova

Ford asked the U.S. government back in 2015 if the cars it makes for the police could be exempt from the new mandatory rule for electric vehicles (EVs) and hybrids…

Trinidad’s Oil Firm Quits Refining Business As Losses Mount

Trinidad’s Oil Firm Quits Refining Business As Losses Mount

Aug 29, 2018 at 11:41 | Tsvetana Paraskova

Trinidad and Tobago’s state oil firm Petrotrin is ending its oil refining business effective October 1, in response to hefty losses due to the cash it has been spending on…

Incoming Mexican Govt Mulls Suspending Oil Auctions Indefinitely

Incoming Mexican Govt Mulls Suspending Oil Auctions Indefinitely

Aug 29, 2018 at 10:30 | Tsvetana Paraskova

In what could be a U-turn in Mexican energy policies over the past five years, the incoming administration is thinking of indefinitely halting competitive tenders for oil and gas in…

Crude Oil Imports At China’s Independent Refiners Rebound

Crude Oil Imports At China’s Independent Refiners Rebound

Aug 29, 2018 at 09:11 | Tsvetana Paraskova

Following four consecutive months of declining oil imports, China’s independent refiners boosted crude oil imports in August by 40 percent from July, as many returned from maintenance to prepare for…

Oil Prices Head Lower On Bearish API Report

Oil Prices Head Lower On Bearish API Report

Aug 28, 2018 at 15:51 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise oil inventory build of 38,000 barrels of United States crude oil inventories for the week ending August 25, compared to analyst expectations…

Europe Sells 1 Million EV/Hybrids, Norway Leads the Pack

Europe Sells 1 Million EV/Hybrids, Norway Leads the Pack

Aug 28, 2018 at 15:45 | Tsvetana Paraskova

Sales of battery electric vehicles and plug-in hybrids in Europe jumped by 42 percent annually in the first half of 2018, hitting the 1-million milestone, with the plug-in share of…

$8B Investment In Brazil Could Unlock 5 Billion Barrels Of Oil

$8B Investment In Brazil Could Unlock 5 Billion Barrels Of Oil

Aug 28, 2018 at 14:13 | Tsvetana Paraskova

Decommissioning costs for Brazil’s mature, offshore Campos basin could come it at a whopping US$8 billion through 2025, but according to Wood Mackenzie, investing that same amount instead in…

What’s Behind The Abrupt Departure Of France’s Environment Minister?

What’s Behind The Abrupt Departure Of France’s Environment Minister?

Aug 28, 2018 at 12:51 | Julianne Geiger

France’s Environment Minister, Nicolas Hulot, is calling it quits, citing an “accumulation of disappointments” in his government with regards to meeting climate change goals, Hulot explained in on live radio…

Norway’s Biggest Bank Sees More But Small-Scale Oil Industry Restructuring Ahead

Norway’s Biggest Bank Sees More But Small-Scale Oil Industry Restructuring Ahead

Aug 28, 2018 at 12:35 | Tsvetana Paraskova

The biggest financial services group in Norway and a major lender to the oil and gas sector, DNB, expects more restructuring in the industry ahead, but on a smaller, more…

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