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News

Will Energy Secretary Perry Ask Russia For More Oil?

Will Energy Secretary Perry Ask Russia For More Oil?

Jun 26, 2018 at 10:18 | Irina Slav

Energy analysts expect Energy Secretary Rick Perry might ask his Russian counterpart Alexander Novak for more oil to compensate for lost supply from the Iranian sanctions when they meet this…

Flailing GE Moves To Ditch Stake In Baker Hughes

Flailing GE Moves To Ditch Stake In Baker Hughes

Jun 26, 2018 at 09:37 | Tsvetana Paraskova

GE plans to divest its 62.5-percent stake in oilfield services provider Baker Hughes over the next two to three years, as part of a plan unveiled on Tuesday to…

India May Jointly Bid For UAE Oil Blocks

India May Jointly Bid For UAE Oil Blocks

Jun 25, 2018 at 17:38 | Tsvetana Paraskova

India is in talks with companies from the United Arab Emirates (UAE) to jointly bid for oil blocks in the Middle Eastern oil producing country, India’s oil minister Dharmendra…

Protests In Iran Erupt While U.S. Sanctions Loom

Protests In Iran Erupt While U.S. Sanctions Loom

Jun 25, 2018 at 17:34 | Tsvetana Paraskova

A fresh wave of protests erupted in Iran over the weekend against the plunging value of the local currency and rising prices, in what some observers and analysts describe as…

Despite Higher Oil Prices, Calgary Office Vacancy Is Highest In A Decade

Despite Higher Oil Prices, Calgary Office Vacancy Is Highest In A Decade

Jun 25, 2018 at 16:35 | Tsvetana Paraskova

Despite the fact that oil prices have increased to their highest in three and a half years, empty offices in Calgary—the heart of Canada’s oil industry—are at their highest since…

Iran’s Oil Revenue Hits $50 Billion Ahead Of US Sanctions

Iran’s Oil Revenue Hits $50 Billion Ahead Of US Sanctions

Jun 25, 2018 at 16:26 | Tsvetana Paraskova

Iran’s revenues from oil exports hit US$50 billion in the Iranian financial year ended March 20, with oil and oil product exports accounting for 70 percent of all Iranian exports,…

Female Drivers To Boost Gasoline Demand In Saudi Arabia

Female Drivers To Boost Gasoline Demand In Saudi Arabia

Jun 25, 2018 at 12:13 | Irina Slav

The addition of half the Saudi population to the current number of drivers will significantly boost gasoline demand in the Kingdom and, according to Bloomberg, could in fact bring in…

Do Teslas Produce As Much CO2 As Gasoline Powered Cars?

Do Teslas Produce As Much CO2 As Gasoline Powered Cars?

Jun 25, 2018 at 10:12 | Irina Slav

Teslas may not be any greener than their gasoline counterparts, research from UK-based climate data provider Engaged Tracking has suggested, based on data about the CO2 emissions linked to the…

Offshore Oil Ban May Cost New-Zealand Billions

Offshore Oil Ban May Cost New-Zealand Billions

Jun 25, 2018 at 09:44 | Irina Slav

New Zealand’s ban on new offshore oil and gas exploration could cost it billions in lost revenues, the head of the country’s oil and gas industry body Pepanz said,…

U.S. Sanctions Won’t Affect Iraq-Iran Crude Oil Swap Deal

U.S. Sanctions Won’t Affect Iraq-Iran Crude Oil Swap Deal

Jun 22, 2018 at 17:19 | Tsvetana Paraskova

The return of the U.S. sanctions on Iran will not impact an agreement between Iran and Iraq to swap crude oil, Iraq’s Oil Minister Jabbar al-Luiebi said on Friday.…

Sudan, South Sudan To Discuss New Oil Recovery Plan

Sudan, South Sudan To Discuss New Oil Recovery Plan

Jun 22, 2018 at 17:15 | Tsvetana Paraskova

Sudan and South Sudan will discuss plans to recover oil infrastructure and production next week, the foreign minister of Sudan said on Friday. The oil talks will be held…

Germany Neglects Renewables, Set to Miss 2020 Climate Goals

Germany Neglects Renewables, Set to Miss 2020 Climate Goals

Jun 22, 2018 at 16:43 | Tsvetana Paraskova

While the newly installed German government grapples with divisions over migration policies in its first 100 days of office, its inaction on energy policies and climate goals is angering…

PDVSA: Venezuela Will Struggle To Recover Lost Oil Production

PDVSA: Venezuela Will Struggle To Recover Lost Oil Production

Jun 22, 2018 at 13:54 | Irina Slav

Venezuela will be hard put to recover by end-2018 the crude oil production that it lost in the last couple of years, the country’s Oil Minister said during OPEC’s meeting…

How Do Predictions Stack Up 30 Years After The First Global Warming Warning?

How Do Predictions Stack Up 30 Years After The First Global Warming Warning?

Jun 22, 2018 at 12:59 | Tsvetana Paraskova

This week marks the 30th anniversary of the first public warning that global warming had started, and climate scientists are assessing where the predictions of the NASA scientist who sounded…

U.S. Asks Japan To Stop Importing Iranian Crude

U.S. Asks Japan To Stop Importing Iranian Crude

Jun 22, 2018 at 09:23 | Irina Slav

The U.S. has asked Japan to completely stop importing Iranian crude, unnamed sources close to bilateral talks from earlier this week told Bloomberg. Japan has not yet decided how…

Venezuela: U.S. Sanctions Are “An Attack On The Oil Market”

Venezuela: U.S. Sanctions Are “An Attack On The Oil Market”

Jun 21, 2018 at 16:30 | Tsvetana Paraskova

The U.S. sanctions against Venezuela are affecting consumers worldwide and are an attack on the oil market, Venezuelan Oil Minister Manuel Quevedo said on Thursday. The minister, speaking at…

Turkey Plans World’s Biggest Offshore Wind Farm

Turkey Plans World’s Biggest Offshore Wind Farm

Jun 21, 2018 at 16:22 | Tsvetana Paraskova

Turkey said on Thursday that it would be accepting applications for the construction and operation of a 1,200-MW offshore wind farm—the world’s biggest—by October 23. The Renewable Energy General…

Third Oil Storage Tank Set Ablaze Amid Clashes At Libyan Port

Third Oil Storage Tank Set Ablaze Amid Clashes At Libyan Port

Jun 21, 2018 at 16:21 | Tsvetana Paraskova

Clashes at Libya’s oil port of Ras Lanuf resulted in a third storage tank set on fire, a witness and an oil engineer told Reuters on Thursday. Over the…

Oil Executive: Industry Needs ‘Another Iraq Or North Sea’ To Meet Demand Growth

Oil Executive: Industry Needs ‘Another Iraq Or North Sea’ To Meet Demand Growth

Jun 21, 2018 at 16:12 | Tsvetana Paraskova

The global oil industry needs to find “another Iraq or North Sea every year” to plug the shortfall of oil supply as demand continues to grow, Majid Jafar, the chief…

China Set To Cut U.S. Oil Imports As Trade War Heats Up

China Set To Cut U.S. Oil Imports As Trade War Heats Up

Jun 21, 2018 at 12:29 | Tsvetana Paraskova

Chinese oil customers plan to reduce their intake of U.S. crude oil from September onwards to avoid a possible import tariff on American oil in China, due to the uncertain…

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