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News

Congo Looks To Seize Oil Licenses From Corrupt Israeli Billionaire

Congo Looks To Seize Oil Licenses From Corrupt Israeli Billionaire

Jan 10, 2020 at 09:48 | Tsvetana Paraskova

The Democratic Republic of Congo is considering taking over two oil licenses from an Israeli billionaire who is under U.S. sanctions for corrupt deals, and sell the exploration blocks to…

Shell Is Selling Washington Refinery

Shell Is Selling Washington Refinery

Jan 10, 2020 at 09:28 | Irina Slav

Shell is looking for buyers of its Anacortes refinery in Washington, unnamed sources told Reuters, adding that if a sale takes place it would leave Shell’s refining operations in…

Mexico’s Mega Oil Hedge Cost “Around” $1 Billion

Mexico’s Mega Oil Hedge Cost “Around” $1 Billion

Jan 09, 2020 at 16:19 | Julianne Geiger

The largest oil hedge in the world cost Mexico “around $1 billion” for 2020, Mexico’s Finance Minister Arturo Herrera said on Thursday, according to Reuters. Herrera had said the…

U.S. Oil Producers Slash Jobs To Cut Costs

U.S. Oil Producers Slash Jobs To Cut Costs

Jan 09, 2020 at 15:42 | Tsvetana Paraskova

Two major U.S. oil producers, Occidental Petroleum and Apache Corporation, have started slashing jobs this week as they look to cut costs in the slowdown of the U.S. shale production…

North America Leads Global Crude Oil Pipeline Additions

North America Leads Global Crude Oil Pipeline Additions

Jan 09, 2020 at 15:20 | Tsvetana Paraskova

Construction of new crude oil pipelines in North America will account for the majority of the planned oil pipeline length additions globally between 2019 and 2023, data and analytics company…

Trump Looks To Speed Up Oil Pipeline Permits By Dropping Climate Reviews

Trump Looks To Speed Up Oil Pipeline Permits By Dropping Climate Reviews

Jan 09, 2020 at 15:14 | Tsvetana Paraskova

As part of the Trump Administration’s ongoing efforts to accelerate the permitting process for oil pipelines and other large infrastructure projects, the White House released on Thursday a plan…

Kuwait Expects To Pump 250,000 Bpd When Neutral Zone Restarts

Kuwait Expects To Pump 250,000 Bpd When Neutral Zone Restarts

Jan 09, 2020 at 14:39 | Tsvetana Paraskova

Kuwait expects its share of the oil production from the Neutral Zone that it shares with Saudi Arabia to be 250,000 bpd by the end of 2020 when production…

China To Open Oil, Gas Industry to Foreign Companies

China To Open Oil, Gas Industry to Foreign Companies

Jan 09, 2020 at 13:13 | Irina Slav

China will open its arms for foreign oil and gas companies, and for local private E&Ps, the country’s Ministry for Natural Resources told media as quoted by the China Global…

Average U.S. Natural Gas Prices Hit Three-Year Low In 2019

Average U.S. Natural Gas Prices Hit Three-Year Low In 2019

Jan 09, 2020 at 11:53 | Tsvetana Paraskova

Due to continuously rising U.S. natural gas production, natural gas prices at the U.S. benchmark Henry Hub averaged US$2.57 per million British thermal units (MMBtu) in 2019—the lowest annual…

Senegal Greenlights Start Of First Oil Field

Senegal Greenlights Start Of First Oil Field

Jan 09, 2020 at 10:32 | Irina Slav

Senegal’s government has given the go-ahead to the development at its first oil project, the Sangomar offshore field, operated by Australia’s Woodside Petroleum. The start of production from the $4.2-billion…

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