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News

Plains All American Fast-Tracks 2 Pipelines

Plains All American Fast-Tracks 2 Pipelines

Aug 09, 2018 at 11:33 | Irina Slav

Plains All American is fast-tracking two pipeline projects in West Texas in a bid to alleviate a worsening pipeline capacity shortage in the United States’ most productive oil region, Reuters…

New Round Of Sanctions Could Suspend Russian Oil, Fuels Exports To U.S.

New Round Of Sanctions Could Suspend Russian Oil, Fuels Exports To U.S.

Aug 09, 2018 at 09:39 | Irina Slav

A new round of sanctions that could come into force in three months could put an end to Russian crude oil and oil product exports to the United States, S&P…

Russia Phasing Out Crude Oil Export Duty By 2024

Russia Phasing Out Crude Oil Export Duty By 2024

Aug 08, 2018 at 15:46 | Tsvetana Paraskova

Russia’s President Vladimir Putin has signed into law a bill to phase out Russia’s crude oil export duty by 2024, which is expected to increase export netbacks for oil…

Iran: OPEC Committee Tried To Redistribute Oil Quotas

Iran: OPEC Committee Tried To Redistribute Oil Quotas

Aug 08, 2018 at 15:42 | Tsvetana Paraskova

Iran is calling out the joint OPEC/non-OPEC committee tasked with monitoring the collective production deal, saying that the committee tried to redistribute oil production quotas among some OPEC members…

Kenya, Tullow Oil Agree To Resume Oil Field Operations

Kenya, Tullow Oil Agree To Resume Oil Field Operations

Aug 08, 2018 at 15:38 | Tsvetana Paraskova

The government of Kenya and the local subsidiary of Tullow Oil have agreed to resume oilfield operations in the northern Kenyan county of Turkana, where Tullow Oil shuttered operations…

India’s Top Refiner Buys U.S. Oil To Partially Replace Iranian Crude

India’s Top Refiner Buys U.S. Oil To Partially Replace Iranian Crude

Aug 08, 2018 at 13:59 | Tsvetana Paraskova

Indian Oil Corp, the biggest refiner in India, has purchased a total of 6 million barrels of U.S. crude oil for delivery between November and January, as it has…

Despite Weak Teapot Demand, China’s Oil Imports Recover In July

Despite Weak Teapot Demand, China’s Oil Imports Recover In July

Aug 08, 2018 at 12:45 | Tsvetana Paraskova

China’s crude oil imports in July rose for the first time in three months, but were still at their third lowest monthly level so far this year, as independent refiners…

Musk Starts Speculation Storm With “Taking Tesla Private” Tweet

Musk Starts Speculation Storm With “Taking Tesla Private” Tweet

Aug 08, 2018 at 11:21 | Irina Slav

Tesla’s chief executive is either unable or unwilling to stay away from headlines for any length of time, and this week makes no exception. Yesterday, Musk tweeted he planned…

Trans Mountain Expansion Could Cost More Than Expected

Trans Mountain Expansion Could Cost More Than Expected

Aug 08, 2018 at 10:44 | Irina Slav

The Trans Mountain pipeline expansion project could end up costing more than initially estimated, documents filed with U.S. regulators by Kinder Morgan suggest, according to a Reuters report. The…

Japan Negotiating with U.S. For Iranian Oil Import Exemption

Japan Negotiating with U.S. For Iranian Oil Import Exemption

Aug 08, 2018 at 09:52 | Tsvetana Paraskova

Japan will continue to negotiate with the United States to seek exemption from the U.S. sanctions on Iran’s oil, as Tokyo wants to avoid negative impacts on its energy supply…

U.S. Grants Iran Sanctions Waiver To Southern Gas Corridor

U.S. Grants Iran Sanctions Waiver To Southern Gas Corridor

Aug 08, 2018 at 09:25 | Tsvetana Paraskova

The U.S. is granting an Iran sanctions waiver to the Southern Gas Corridor natural gas pipeline projects designed to carry Azeri gas from the Caspian Sea to Turkey and…

Oil Trades Flat After API Reports Major Crude Draw

Oil Trades Flat After API Reports Major Crude Draw

Aug 07, 2018 at 16:31 | Julianne Geiger

The American Petroleum Institute (API) reported a crude oil inventory draw of 6 million barrels of United States crude oil inventories for the week ending Aug 4, compared to analyst…

Iran’s Oil Exports Drop For Third Consecutive Month

Iran’s Oil Exports Drop For Third Consecutive Month

Aug 07, 2018 at 15:03 | Tsvetana Paraskova

Iran’s oil exports dropped by 7 percent to 2.32 million bpd in July—their lowest level in four months—as South Korea and Europe are slashing imports ahead of the return…

Egypt To Start Importing Israeli Gas For Re-export In Early 2019

Egypt To Start Importing Israeli Gas For Re-export In Early 2019

Aug 07, 2018 at 12:30 | Tsvetana Paraskova

An Egyptian company is set to begin importing gas from Israeli offshore fields in the first quarter of 2019 and to re-export it as part of its plan to become…

Tesla Starts Hiring At Its Shanghai Factory

Tesla Starts Hiring At Its Shanghai Factory

Aug 07, 2018 at 12:02 | Irina Slav

Tesla has started hiring personnel for its gigafactory in China, Reuters reports, citing job postings on the company’s website. For now, the company is looking to hire 14 people,…

Rosneft Reports Strong Q2 Earnings As Oil Prices Improve

Rosneft Reports Strong Q2 Earnings As Oil Prices Improve

Aug 07, 2018 at 10:33 | Irina Slav

Russia’s biggest oil company Rosneft reported record-high free cash flow and a near three-fold increase in net profit for the second quarter on the back of higher oil prices…

API Strikes Back At Cuomo For “Extreme Energy Policies”

API Strikes Back At Cuomo For “Extreme Energy Policies”

Aug 07, 2018 at 09:24 | Irina Slav

The American Petroleum Institute has attacked New York Governor Andrew Cuomo for his energy agenda, which, API New York executive director Karen Moreau said in a statement, is hurting the…

Scientists Want Oil Drilling Ban In British County After Series of Earthquakes

Scientists Want Oil Drilling Ban In British County After Series of Earthquakes

Aug 06, 2018 at 16:55 | Tsvetana Paraskova

Four senior geologists are calling for a moratorium on oil and gas drilling in Surrey in the UK, southeast of London, after 12 earthquakes were registered in the area over…

Trade War Scares Hedge Funds To Cut Oil Bets To Two-Year Low

Trade War Scares Hedge Funds To Cut Oil Bets To Two-Year Low

Aug 06, 2018 at 16:47 | Tsvetana Paraskova

The escalating U.S.-China trade war is deterring hedge funds and other money managers from opening new positions in the WTI and Brent benchmarks, with total bets dropping to their lowest…

China Threatens 25% Import Tariff On U.S. LNG

China Threatens 25% Import Tariff On U.S. LNG

Aug 06, 2018 at 15:39 | Tsvetana Paraskova

In the latest trade war tit-for-tat, China has included for the first time liquefied natural gas (LNG) in its list of goods up for a potential 25-percent import tariff,…

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