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News

Canada’s Crude-By-Rail Exports Surge To Record

Canada’s Crude-By-Rail Exports Surge To Record

Aug 23, 2018 at 16:28 | Tsvetana Paraskova

Canadian crude-by-rail exports jumped to a record in June 2018, exceeding 200,000 bpd for the first time and nearly doubling compared to June last year, Canada’s National Energy Board…

Kenya Resumes Oil Trucking To Port After Local Standoff Ends

Kenya Resumes Oil Trucking To Port After Local Standoff Ends

Aug 23, 2018 at 16:13 | Tsvetana Paraskova

Crude oil trucking from the oil fields in the northern Kenyan county of Turkana to Mombassa resumed on Thursday, after local residents agreed to let trucks move out of…

Saudis Seek $12B Loan From Banks Amid Aramco IPO Delays

Saudis Seek $12B Loan From Banks Amid Aramco IPO Delays

Aug 23, 2018 at 14:18 | Tsvetana Paraskova

The sovereign wealth fund of Saudi Arabia is set to pick a number of international banks to lend it as much as US$12 billion, after the listing of oil giant…

Rosneft May Challenge Crystallex Claim To Citgo Shares

Rosneft May Challenge Crystallex Claim To Citgo Shares

Aug 23, 2018 at 11:17 | Irina Slav

Rosneft has asked a U.S. federal court to establish “a robust appraisal and sale process” of Citgo shares following Canadian miner Crystallex’ win at court against the parent company of…

China’s CNOOC Books Best H1 Profit In Three Years

China’s CNOOC Books Best H1 Profit In Three Years

Aug 23, 2018 at 10:59 | Tsvetana Paraskova

China’s offshore oil and gas firm CNOOC reported on Thursday a 57-percent jump in its consolidated net profit for the first half of 2018, booking the best half-year…

EU Might Back Proposal For SWIFT-Like Payment System With Iran

EU Might Back Proposal For SWIFT-Like Payment System With Iran

Aug 23, 2018 at 09:39 | Irina Slav

The European Union is looking favorably at a proposal by Germany’s Foreign Minister Heiko Maas to set a SWIFT-like payment system between the union and Iran as a way of…

Guilty Plea Entered In Billion-Dollar PDVSA Money Laundering Case

Guilty Plea Entered In Billion-Dollar PDVSA Money Laundering Case

Aug 22, 2018 at 17:15 | Julianne Geiger

Matthias Krull, a German national, entered a guilty plea today for his role in the $1.2 billion PDVSA embezzlement case. Krull, formerly managing director and vice chairman of Swiss bank…

More Mexican Nat Gas Pipelines To Ease Permian Constraints

More Mexican Nat Gas Pipelines To Ease Permian Constraints

Aug 22, 2018 at 16:41 | Tsvetana Paraskova

The ongoing expansion of the U.S.-Mexico cross-border natural gas pipeline capacity provides an additional outlet for the constrained Permian production in West Texas, but delays in some projects on the…

Kuwait Looks To Settle Oil Field Disputes With Saudis, Iraq Soon

Kuwait Looks To Settle Oil Field Disputes With Saudis, Iraq Soon

Aug 22, 2018 at 16:20 | Tsvetana Paraskova

Kuwait expects to soon sign deals on the development of the oil fields that it shares with its neighbors Saudi Arabia and Iraq, official Kuwait News Agency (KUNA) quoted…

Tesla Sales In The Netherlands Soar As EV Incentive Set To End

Tesla Sales In The Netherlands Soar As EV Incentive Set To End

Aug 22, 2018 at 16:03 | Tsvetana Paraskova

Sales of Tesla in the Netherlands have been surging this year as a tax incentive on electric vehicles is set to expire at the end of the year. So far…

No Transfer-of-Rights Oil Tender Scheduled In Brazil This Year

No Transfer-of-Rights Oil Tender Scheduled In Brazil This Year

Aug 22, 2018 at 11:48 | Irina Slav

There are no plans to tender transferred rights to develop oil-producing fields by the end of this year, Brazil’s deputy energy minister Marcio Felix said, as quoted by Reuters.…

U.S. Punishes Russian Firms For Violated N. Korea Sanctions

U.S. Punishes Russian Firms For Violated N. Korea Sanctions

Aug 22, 2018 at 09:16 | Irina Slav

The U.S. Treasury Department has sanctioned two Russian shipping companies on allegations of violating sanctions against North Korea by participating in ship-to-ship transfer of oil products to North Korean…

Oil Prices Rise After API Reports Large Crude Draw

Oil Prices Rise After API Reports Large Crude Draw

Aug 21, 2018 at 15:42 | Julianne Geiger

The American Petroleum Institute (API) reported an extra-large oil inventory draw of 5.17 million barrels of United States crude oil inventories for the week ending August 18, compared to analyst…

Iraqi Oil Exports From South Set To Reach New Record

Iraqi Oil Exports From South Set To Reach New Record

Aug 21, 2018 at 14:26 | Tsvetana Paraskova

Iraq’s oil exports from its southern ports are heading for a new record this month if they continue the pace set so far in August, which would be the second…

Norway’s $1-Trillion Fund Can Stay Investor If Tesla Goes Private

Norway’s $1-Trillion Fund Can Stay Investor If Tesla Goes Private

Aug 21, 2018 at 14:06 | Tsvetana Paraskova

The world’s biggest sovereign wealth fund, Norway’s US$1-trillion Government Pension Fund Global, can remain a shareholder in Tesla under the fund’s governing rules if the EV maker becomes private, the…

India Looks To List The Overseas Unit Of Its Largest State Oil Firm

India Looks To List The Overseas Unit Of Its Largest State Oil Firm

Aug 21, 2018 at 12:20 | Tsvetana Paraskova

India’s government has asked its largest state-held firm Oil and Natural Gas Corporation (ONGC) to seek the listing of its overseas operations unit ONGC Videsh, in a bid to raise…

U.S. To Release 11 Million Barrels From Strategic Petroleum Reserves

U.S. To Release 11 Million Barrels From Strategic Petroleum Reserves

Aug 21, 2018 at 11:59 | Julianne Geiger

The United States is set to release 11 million barrels of oil from its Strategic Petroleum Reserves (SPR) ahead of Iranian sanctions that are set to go into effect…

TransCanada Files Eminent Domain Petitions For Two Private Parcels

TransCanada Files Eminent Domain Petitions For Two Private Parcels

Aug 21, 2018 at 09:50 | Irina Slav

TransCanada has filed eminent domain petitions for two private land parcels along the route of its Keystone XL pipeline, South Dakota daily Rapid City Journal reported, adding that at…

PDVSA Settles With NuStar On Caribbean Storage Hub

PDVSA Settles With NuStar On Caribbean Storage Hub

Aug 21, 2018 at 09:25 | Irina Slav

Venezuela’s state-owned oil company, PDVSA, has struck an agreement with oil storage facilities operator NuStar to resume the use of a terminal on the Caribbean island of St. Eustatius, Reuters…

ConocoPhillips Settles $2B Venezuelan Dispute

ConocoPhillips Settles $2B Venezuelan Dispute

Aug 20, 2018 at 16:59 | Tsvetana Paraskova

ConocoPhillips said on Monday that it had reached a settlement with Venezuela’s state-owned oil firm PDVSA to recover the full US$2-billion amount that an international court awarded it earlier…

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