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New Tech Could Turn Seaweed Into Biofuel

New Tech Could Turn Seaweed Into Biofuel

Scientists discovered an unlikely abundant…

News

China Set To Continue Crude Oil Buying Spree, IEA Says

China Set To Continue Crude Oil Buying Spree, IEA Says

Oct 12, 2017 at 14:02 | Tsvetana Paraskova

Although Chinese oil stocks data is opaque and hard to come by, various sources peg China’s storage capacity at up to 1 billion barrels, and assuming the estimate is accurate…

India Needs Help To Boost Oil Production

India Needs Help To Boost Oil Production

Oct 12, 2017 at 12:14 | Irina Slav

India needs foreign drillers on board to increase its crude oil production as it plans to reduce its dependence on imported oil. According to Wood Mackenzie, the world’s fastest-growing oil…

Shell Buys One Of Europe’s Largest EV Charging Networks

Shell Buys One Of Europe’s Largest EV Charging Networks

Oct 12, 2017 at 12:09 | Tsvetana Paraskova

In one of Big Oil’s most significant deals in the electric vehicles market yet, Shell said on Thursday that it had signed an agreement to buy one of Europe’s…

Oil Throwback: BP Is Bringing Back The Amoco Brand

Oil Throwback: BP Is Bringing Back The Amoco Brand

Oct 12, 2017 at 10:30 | Julianne Geiger

It’s back! After almost a decade on the bench, BP is reviving its Amoco brand in response, the company said, to some internal marketing studies that suggest the brand…

Libyan Oil Output Covers 25% Of 2017 Budget Needs

Libyan Oil Output Covers 25% Of 2017 Budget Needs

Oct 12, 2017 at 10:03 | Zainab Calcuttawala

Despite the recovery in Libyan oil production over the course of 2017, Libya’s National Oil Corporation (NOC) been able to raise funds to cover 25 percent of the its budget,…

District Judge Rules Dakota Access Can Continue Operating

District Judge Rules Dakota Access Can Continue Operating

Oct 12, 2017 at 09:19 | Irina Slav

The Dakota Access oil pipeline can continue shipping oil from North Dakota’s Bakken fields to Illinois despite protests, U.S. district judge James Boasberg ruled in the latest chapter of…

Surprise Oil Inventory Build Shocks Markets

Surprise Oil Inventory Build Shocks Markets

Oct 11, 2017 at 15:57 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise build of 3.097 million barrels in United States crude oil inventories, compared to an S&P Platts’ survey of analysts that expected inventories…

France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects

France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects

Oct 11, 2017 at 13:32 | Tsvetana Paraskova

As part of efforts to support energy transition, France’s biggest listed bank, BNP Paribas, said on Wednesday that it would no longer do business with companies whose main business…

Syria’s Kurds Aim To Control Oil-Rich Areas

Syria’s Kurds Aim To Control Oil-Rich Areas

Oct 11, 2017 at 13:11 | Tsvetana Paraskova

The Kurds in Syria are vying for control over oil-rich areas in the country with the Syrian Arab army, Syria’s Foreign Minister Walid al-Moallem told his Russian counterpart on…

Chinese Teapots Create $5B JV To Compete With State Firms

Chinese Teapots Create $5B JV To Compete With State Firms

Oct 11, 2017 at 11:56 | Tsvetana Paraskova

Six Chinese teapot refiners have registered a US$5 billion (33 billion yuan) joint venture to pool funds and investments in order to compete with state-owned giants in an oversupplied domestic…

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