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U.S. Drillers Add Double Digit Oil, Gas Rigs

U.S. Drillers Add Double Digit Oil, Gas Rigs

Despite the correction in oil…

What Would A Hard Brexit Mean For British Oil?

What Would A Hard Brexit Mean For British Oil?

Despite nearly 14 months of…

News

Petrobras’ Net Profit Rises Thirty-Fold On Higher Oil Prices

Petrobras’ Net Profit Rises Thirty-Fold On Higher Oil Prices

Aug 03, 2018 at 14:16 | Tsvetana Paraskova

Brazil’s state-run oil firm Petrobras (NYSE:PBR) benefited from the rising oil prices and booked a thirty-fold yearly jump in its second-quarter net income, which also beat analyst expectations. Petrobras…

Chinese State Oil Major Suspends U.S. Oil Imports Amid Trade War

Chinese State Oil Major Suspends U.S. Oil Imports Amid Trade War

Aug 03, 2018 at 13:22 | Tsvetana Paraskova

Due to the rising trade tension between China and the United States, the trading arm of Chinese state oil major Sinopec has suspended imports of crude oil from the United…

China Won’t Stop Buying Iranian Crude Oil Despite US Request

China Won’t Stop Buying Iranian Crude Oil Despite US Request

Aug 03, 2018 at 13:09 | Irina Slav

Beijing has declined a request by U.S. envoys to stop importing crude oil from Iran, Bloomberg reports, citing unnamed sources in the know. While this is a major setback…

Senators Propose New Russia Sanction Bill Targeting Oil

Senators Propose New Russia Sanction Bill Targeting Oil

Aug 03, 2018 at 11:57 | Irina Slav

A group of senators led by Lindsey Graham have introduced a new bill proposing further sanctions against Russia—the latest in what is turning into a string of Russia-sanction legislative efforts—this…

Tesla Short Sellers Take $1.7B Hit

Tesla Short Sellers Take $1.7B Hit

Aug 03, 2018 at 09:36 | Irina Slav

Tesla is the most shorted stock among U.S. companies, and CEO Elon Musk is notoriously caustic in his Twitter comments about “Shortville.” This week, after the release of Tesla’s…

Is This The End Of Ultra Cheap Gasoline In Venezuela?

Is This The End Of Ultra Cheap Gasoline In Venezuela?

Aug 02, 2018 at 16:55 | Tsvetana Paraskova

As the economic crisis continues to deepen, Venezuela’s President Nicolas Maduro is promising a new policy on gasoline (the world’s cheapest)— which is currently generously subsidized by the socialist…

India’s Oil Imports From Iran Jump To Record-High In July

India’s Oil Imports From Iran Jump To Record-High In July

Aug 02, 2018 at 16:48 | Tsvetana Paraskova

Ahead of the return of the U.S. sanctions on Iran, India’s state refiners boosted their Iranian oil purchases, pushing up Indian oil imports from Iran by 30 percent from June,…

Saudi Arabia Cuts Oil Pricing To Lure New Buyers

Saudi Arabia Cuts Oil Pricing To Lure New Buyers

Aug 02, 2018 at 16:44 | Tsvetana Paraskova

Saudi Arabia is cutting the September official selling prices (OSPs) for all its grades and to all markets except for to the United States, as it aims to entice…

South Korea To Import Record U.S. Oil Volumes In September, October

South Korea To Import Record U.S. Oil Volumes In September, October

Aug 02, 2018 at 15:52 | Tsvetana Paraskova

South Korea’s imports of U.S. crude oil are expected to hit all-time highs in September and October, as the world’s fifth-largest oil importer cuts off Iranian oil imports and looks…

Trump Administration Rolls Back Fuel Economy Standards For Cars

Trump Administration Rolls Back Fuel Economy Standards For Cars

Aug 02, 2018 at 15:25 | Tsvetana Paraskova

The Trump Administration unveiled on Thursday proposed rulemaking for rolling back Obama-era fuel economy standards for automakers, recommending the freezing of the mile-per-gallon standards for passenger cars and light…

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