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Sao Paulo's Power Grid Nears Breaking Point

Sao Paulo's Power Grid Nears Breaking Point

Sao Paolo is facing blackouts…

Trafigura: AI Boom Could Spark a Copper Shortage

Trafigura: AI Boom Could Spark a Copper Shortage

The sudden explosion of AI…

News

U.S. To Release 11 Million Barrels From Strategic Petroleum Reserves

U.S. To Release 11 Million Barrels From Strategic Petroleum Reserves

Aug 21, 2018 at 11:59 | Julianne Geiger

The United States is set to release 11 million barrels of oil from its Strategic Petroleum Reserves (SPR) ahead of Iranian sanctions that are set to go into effect…

TransCanada Files Eminent Domain Petitions For Two Private Parcels

TransCanada Files Eminent Domain Petitions For Two Private Parcels

Aug 21, 2018 at 09:50 | Irina Slav

TransCanada has filed eminent domain petitions for two private land parcels along the route of its Keystone XL pipeline, South Dakota daily Rapid City Journal reported, adding that at…

PDVSA Settles With NuStar On Caribbean Storage Hub

PDVSA Settles With NuStar On Caribbean Storage Hub

Aug 21, 2018 at 09:25 | Irina Slav

Venezuela’s state-owned oil company, PDVSA, has struck an agreement with oil storage facilities operator NuStar to resume the use of a terminal on the Caribbean island of St. Eustatius, Reuters…

ConocoPhillips Settles $2B Venezuelan Dispute

ConocoPhillips Settles $2B Venezuelan Dispute

Aug 20, 2018 at 16:59 | Tsvetana Paraskova

ConocoPhillips said on Monday that it had reached a settlement with Venezuela’s state-owned oil firm PDVSA to recover the full US$2-billion amount that an international court awarded it earlier…

Saudi Arabia Looks To Build Oil Port In Yemen

Saudi Arabia Looks To Build Oil Port In Yemen

Aug 20, 2018 at 16:27 | Tsvetana Paraskova

Saudi Arabia may be looking to build an oil port in Yemen’s southeast al-Mahra governorate, where the Saudi-led coalition troops are present, Al Jazeera reported on Monday, quoting sources…

Three Total North Sea Platform Shut Down As Strike Begins

Three Total North Sea Platform Shut Down As Strike Begins

Aug 20, 2018 at 13:44 | Tsvetana Paraskova

Oil and gas production at three platforms operated by Total in the North Sea shut down early on Monday for 24 hours as workers of the Unite union began,…

China Switches To Iranian Tankers To Import Iran’s Oil Amid U.S. Sanctions

China Switches To Iranian Tankers To Import Iran’s Oil Amid U.S. Sanctions

Aug 20, 2018 at 11:43 | Tsvetana Paraskova

In order to keep Iranian oil flowing to China, Chinese refiners and oil traders have started to switch to using Iran-owned tankers for almost all their crude oil imports from…

Iran: France’s Total Officially Quits South Pars Gas Project

Iran: France’s Total Officially Quits South Pars Gas Project

Aug 20, 2018 at 10:50 | Tsvetana Paraskova

French oil and gas major Total has officially left Iran due to the threat of secondary sanctions from the United States if it were to continue to do business…

Chevron Starts Work On Iraq Field Development Deal

Chevron Starts Work On Iraq Field Development Deal

Aug 20, 2018 at 09:17 | Irina Slav

U.S. supermajor Chevron has started work on a preliminary contract with the Iraqi government for the development of oil fields in southern Iraq, Reuters reports, citing Iraq’s Oil Ministry.…

Aramco Ready To Invest To Meet Future Oil Demand

Aramco Ready To Invest To Meet Future Oil Demand

Aug 17, 2018 at 16:58 | Julianne Geiger

Citing $1 trillion in planned investments lost since the market downturn began, Aramco’s chairman of the board of directors Khalid Al-Falih issued a battle cry to the world’s other oil…

Security Concerns Over Libya’s Oil Attracts Huge Freight Premiums

Security Concerns Over Libya’s Oil Attracts Huge Freight Premiums

Aug 17, 2018 at 14:29 | Tsvetana Paraskova

Persisting security concerns over Libya’s oil export capacity and the political divisions in the country fetch large tanker freight premiums for shipowners daring to call at Libyan ports for crude…

Analysts: Russia’s Oil Industry Won’t Crumble Under U.S. ‘Bill From Hell’

Analysts: Russia’s Oil Industry Won’t Crumble Under U.S. ‘Bill From Hell’

Aug 17, 2018 at 13:31 | Tsvetana Paraskova

The ‘bill from hell’ of hard-hitting sanctions against Russia that U.S. Senators introduced earlier this month is unlikely to have a wide-ranging impact on Russia’s oil industry, analysts and economists…

Production At Libya’s Largest Oil Field Risks Shutdown, Again

Production At Libya’s Largest Oil Field Risks Shutdown, Again

Aug 17, 2018 at 12:52 | Tsvetana Paraskova

Just as Libya’s oil production recovered to a two-month high of over 1 million bpd, fresh protests at the oil terminal and refinery servicing the country’s largest oil field, Sharara,…

Total To Boost Nigeria Oil Production By 200,000 Bpd

Total To Boost Nigeria Oil Production By 200,000 Bpd

Aug 17, 2018 at 11:35 | Irina Slav

French supermajor Total will increase Nigeria’s oil production by 200,000 bpd by the end of the year, a senior official from the local unit of the company said at…

SEC Tesla Probe Not New: Report

SEC Tesla Probe Not New: Report

Aug 17, 2018 at 09:29 | Irina Slav

The Securities and Exchange Commission has been investigating Tesla for misleading statements about its Model 3 for months, unnamed sources in the know told the Wall Street Journal, long…

India’s Reliance Declares Force Majeure At Major Export Refinery

India’s Reliance Declares Force Majeure At Major Export Refinery

Aug 16, 2018 at 17:45 | Tsvetana Paraskova

Profit margins from gasoline refining in Asia jumped to one-year highs after Indian refiner Reliance Industries declared on Wednesday force majeure on exports of its predominantly export-oriented Jamnagar refinery…

Fifth Strike At Total’s North Sea Oil, Gas Platforms Set For Aug 20th

Fifth Strike At Total’s North Sea Oil, Gas Platforms Set For Aug 20th

Aug 16, 2018 at 17:29 | Tsvetana Paraskova

Workers at three oil and gas platforms in the North Sea operated by Total will go ahead with the planned 24-hour strike on August 20, after a meeting with…

UK Govt Stops Asking Public About Fracking As Shale Drilling Starts

UK Govt Stops Asking Public About Fracking As Shale Drilling Starts

Aug 16, 2018 at 17:24 | Tsvetana Paraskova

The UK government’s latest quarterly public attitudes tracker has dropped the question about how people feel about fracking, just as Cuadrilla Resources is preparing to start hydraulic fracturing in…

Angola Overhauls Block Sales Process To Boost Oil Production

Angola Overhauls Block Sales Process To Boost Oil Production

Aug 16, 2018 at 13:27 | Tsvetana Paraskova

Angola’s new President Joao Lourenco continues with reforms aimed at reversing the country’s oil production decline, by creating an agency that will sell and manage oil blocks instead of…

Iran Says German Oil Company Looking To Make Deal Despite Sanctions

Iran Says German Oil Company Looking To Make Deal Despite Sanctions

Aug 16, 2018 at 13:10 | Tsvetana Paraskova

German company ADL and Iran’s Sepahan Oil Company (SOC) have signed an agreement to cooperate in technology transfer in oil and gas industry lubricants, Iranian media report. European embassies…

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