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News

Citgo CEO’s U.S. Visa Revoked In Latest Blow To Venezuela

Citgo CEO’s U.S. Visa Revoked In Latest Blow To Venezuela

Jul 19, 2018 at 13:33 | Tsvetana Paraskova

Citgo Petroleum, the U.S. refining unit of troubled Venezuelan state oil firm PDVSA, said that the United States had revoked the U.S. visa of Citgo’s chief executive Asdrubal Chavez,…

Greenpeace Daubs Barclays Logo In Oil Sands Protest

Greenpeace Daubs Barclays Logo In Oil Sands Protest

Jul 19, 2018 at 12:38 | Tsvetana Paraskova

Greenpeace activists staged on Thursday a protest outside the headquarters of UK bank Barclays in London, daubing the logo with a mock oil leak to protest against the lender’s…

U.S.-Backed Forces, ISIS Clash Over Oil-Rich Areas In Syria

U.S.-Backed Forces, ISIS Clash Over Oil-Rich Areas In Syria

Jul 19, 2018 at 11:16 | Tsvetana Paraskova

Clashes between Islamic State militants and U.S.-backed Syrian Democratic Forces (SDF) continue in eastern Syria, where the Islamist terrorists try to keep control over an oil-rich area between the provinces…

Vancouver Sends Its Biggest Oil Shipment To China Since 2015

Vancouver Sends Its Biggest Oil Shipment To China Since 2015

Jul 19, 2018 at 09:15 | Tsvetana Paraskova

A tanker loaded with around 514,000 barrels of oil has set sail from Vancouver en route to China in what is the largest shipment of oil from the Canadian port…

Production Restarting In Libya After Fields Come Back Online

Production Restarting In Libya After Fields Come Back Online

Jul 19, 2018 at 08:55 | Kayrros

Kayrros estimates that more production capacity started to come online at the Elephant oil field and the Sirte basin fields on July 13, reducing total shut-in production in Libya to…

Tesla’s Model 3 Is The Most Profitable EV, Says Early Critic

Tesla’s Model 3 Is The Most Profitable EV, Says Early Critic

Jul 18, 2018 at 15:07 | Tsvetana Paraskova

An automotive consultant who has been critical of the fit and finish of Tesla’s Model 3 is now praising the EV maker’s sedan as a “symphony of engineering” and the…

Meat, Dairy Industry Surpass Big Oil As World’s Biggest Polluters

Meat, Dairy Industry Surpass Big Oil As World’s Biggest Polluters

Jul 18, 2018 at 14:52 | Tsvetana Paraskova

Within the next few decades, Big Meat and Big Dairy could surpass Big Oil as the world’s biggest climate polluters, a new study by non-profit GRAIN and the Institute…

Houston Firm Plans Huge Oil Export Terminal Offshore Texas

Houston Firm Plans Huge Oil Export Terminal Offshore Texas

Jul 18, 2018 at 14:40 | Tsvetana Paraskova

To capitalize on the growing U.S. exports to Asia and Europe, Houston-based Enterprise Products Partners plans to develop an offshore crude oil export terminal off the Texas Gulf Coast…

Libya Declares Force Majeure On Another Oil Port

Libya Declares Force Majeure On Another Oil Port

Jul 18, 2018 at 13:14 | Tsvetana Paraskova

Just a few days after Libya reopened its eastern oil ports and started to ramp up production that had been offline for weeks, the National Oil Corporation (NOC) declared…

EV Sales Growth Is Slowing In Europe

EV Sales Growth Is Slowing In Europe

Jul 18, 2018 at 12:36 | Tsvetana Paraskova

Sales of electric vehicles (EVs) and plug-in hybrids in Europe’s top car markets rose by just 33 percent in the first half this year, compared to a 54-percent surge in…

LNG Projects Will Help Boost Canada’s Ultra Light Oil Production

LNG Projects Will Help Boost Canada’s Ultra Light Oil Production

Jul 18, 2018 at 10:25 | Tsvetana Paraskova

If liquefied natural gas (LNG) projects come on line in British Columbia by 2025, they will also help boost Canada’s production of condensate—the ultralight oil extracted with natural gas—and the…

Carlyle Group Set To Raise $4B For New Oil And Gas Fund

Carlyle Group Set To Raise $4B For New Oil And Gas Fund

Jul 18, 2018 at 08:46 | Tsvetana Paraskova

One of the world’s biggest private equity firms—the Carlyle Group—is looking to raise US$4 billion for a new fund to invest in oil and gas assets as it seeks to…

Oil Prices Inch Lower After API Reports Surprise Gasoline, Crude Build

Oil Prices Inch Lower After API Reports Surprise Gasoline, Crude Build

Jul 17, 2018 at 15:54 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise crude oil build of 629,000 barrels of United States crude oil inventories for the week ending July 14 compared to analyst expectations…

Venezuela Claims It Plans To Raise Oil Production

Venezuela Claims It Plans To Raise Oil Production

Jul 17, 2018 at 12:24 | Tsvetana Paraskova

Venezuela’s Oil Minister Manuel Quevedo has discussed plans with state-held oil company PDVSA to raise the country’s crude oil production in the second half of the year. While Venezuela…

Electricity Investment Exceeds Oil, Gas For Second Year In A Row

Electricity Investment Exceeds Oil, Gas For Second Year In A Row

Jul 17, 2018 at 11:54 | Tsvetana Paraskova

As the world’s energy sector moves toward greater electrification, investments in electricity surpassed investment in oil and gas for a second consecutive year in 2017, the International Energy Agency (IEA)…

Norwegian Firm Reports 60% Oil Production Growth In Kurdistan

Norwegian Firm Reports 60% Oil Production Growth In Kurdistan

Jul 17, 2018 at 10:03 | Tsvetana Paraskova

Norwegian oil and gas operator DNO ASA has boosted its oil production at the Tawke license in Iraq’s northern Kurdistan region by two-thirds to 25,000 bpd, the company said…

Shell Lifts Force Majeure On Nigeria’s Bonny Light Oil Exports

Shell Lifts Force Majeure On Nigeria’s Bonny Light Oil Exports

Jul 17, 2018 at 09:15 | Tsvetana Paraskova

After nearly two months, Royal Dutch Shell has lifted the force majeure on one of Nigeria’s largest and most popular grades, Bonny Light, after a pipeline carrying the oil…

Permian Pipeline Project Denied Tariff Exemption

Permian Pipeline Project Denied Tariff Exemption

Jul 17, 2018 at 07:59 | Tsvetana Paraskova

he U.S. Administration has rejected the request of Plains All American Pipeline to exempt its US$1.1-billion Cactus II pipeline in the Permian from the 25-percent tariff on steel imports…

EIA: Seven Major US Shale Regions To Hit New Production Records

EIA: Seven Major US Shale Regions To Hit New Production Records

Jul 16, 2018 at 16:41 | Julianne Geiger

Oil production in the seven most prolific US shale regions will hit new highs next month, according to the Energy Information Administration’s monthly Drilling Productivity Report released on Monday…

Iraqi Protests Threaten Oil Production

Iraqi Protests Threaten Oil Production

Jul 16, 2018 at 16:34 | Damir Kaletovic

At least five people have been killed since the beginning of protests in southern Iraq’s oil hub earlier this month, as security forces respond with a hard hand…

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