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Global Energy Consumption Soars To New Heights

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The new BP Statistical Review…

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News

Norway Approves Equinor’s $6.1B Arctic Oil Project

Norway Approves Equinor’s $6.1B Arctic Oil Project

Jun 13, 2018 at 09:15 | Tsvetana Paraskova

The Norwegian Parliament has approved the development plan for the Johan Castberg oil project in Arctic waters of the Barents Sea, which will cost US$6.1 billion (49 billion Norwegian crowns)…

Oil Prices Inch Lower After API Reports Crude, Gasoline Build

Oil Prices Inch Lower After API Reports Crude, Gasoline Build

Jun 12, 2018 at 15:52 | Julianne Geiger

As oil prices continue to fall, the American Petroleum Institute (API) reported a mild build of 800,000 barrels of United States crude oil inventories for the week ending June 8,…

Exxon Builds Energy Trading Business To Raise Profits

Exxon Builds Energy Trading Business To Raise Profits

Jun 12, 2018 at 13:28 | Tsvetana Paraskova

ExxonMobil, which unlike its competitors steered clear of energy trading in the past, has recently started to hire experienced traders as it aims to trade more of its products to…

Iran Plans To Issue Bonds To Fund Oil Projects

Iran Plans To Issue Bonds To Fund Oil Projects

Jun 12, 2018 at 13:13 | Tsvetana Paraskova

Iran plans to issue bonds in the next few months to help fund oil projects in the country, according to the head of the local Securities and Exchange Organization.…

Nigeria’s Oil Exports Set To Slip To 2018 Low In July

Nigeria’s Oil Exports Set To Slip To 2018 Low In July

Jun 12, 2018 at 11:27 | Tsvetana Paraskova

Nigeria’s oil exports are expected to drop to their 2018 low in July—to just 1.43 million bpd, compared to 1.796 million bpd in June, partly due to a force…

China’s Solar Policy Switch Eyes Higher Quality

China’s Solar Policy Switch Eyes Higher Quality

Jun 12, 2018 at 09:46 | Irina Slav

China’s recently announced decision to suspend approvals of new solar installations aims to improve the quality of the industry’s products and offload part of the financial burden on the government,…

Iraq: OPEC Shouldn’t Heed Calls To Boost Oil Production

Iraq: OPEC Shouldn’t Heed Calls To Boost Oil Production

Jun 11, 2018 at 15:56 | Tsvetana Paraskova

OPEC and allies should not bow to the pressure to increase production to offset supply disruptions, Iraq’s Oil Minister Jabbar al-Luiebi said on Monday, adding that unilateral decisions could…

Qatar: LNG Market To Tighten After 2024

Qatar: LNG Market To Tighten After 2024

Jun 11, 2018 at 15:26 | Tsvetana Paraskova

The global liquefied natural gas (LNG) market is not in oversupply currently and will likely tighten after 2024, when Qatar will have increased its LNG export capacity by 30 percent…

Indian Oil Major Starts Cutting Oil Imports From Iran

Indian Oil Major Starts Cutting Oil Imports From Iran

Jun 11, 2018 at 15:17 | Tsvetana Paraskova

One of the biggest Iranian oil customers among India’s refiners, Nayara Energy—formerly known as Essar Oil—started scaling back oil purchases from Iran this month, Reuters reported on Monday, citing…

FCA Head Defends Pro-Aramco Listing Changes

FCA Head Defends Pro-Aramco Listing Changes

Jun 11, 2018 at 13:27 | Irina Slav

The head of the Financial Conduct Authority, the UK’s top financial markets watchdog, has defended the changes to its premium listing rules that will make it considerably easier for Saudi…

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