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Is a Full-Blown Trade War Between the U.S. and China Looming?

Is a Full-Blown Trade War Between the U.S. and China Looming?

Western trade restrictions on China's…

Could We Power Flights With Human Waste?

Could We Power Flights With Human Waste?

Aviation companies are exploring the…

Nigeria To Launch Crude Trading at its Commodity Exchange

Nigeria To Launch Crude Trading at its Commodity Exchange

Africa’s biggest oil producer, Nigeria,…

News

Tesla Plans $5-Billion Auto-Plant In China

Tesla Plans $5-Billion Auto-Plant In China

Aug 01, 2018 at 12:55 | Safehaven.com

Tesla plans to build a US$5-billion car-manufacturing plant near Shanghai in China, and is weighing possibly raising part of the funds for the factory from local partners, Bloomberg reported…

Iraqi Firms Will Develop Nassiriya Oil Field, Mansuriyah Gas Field

Iraqi Firms Will Develop Nassiriya Oil Field, Mansuriyah Gas Field

Aug 01, 2018 at 10:14 | Tsvetana Paraskova

Iraq’s oil ministry has ordered state-held firms to take over the development of the Mansuriyah gas field and the Nassiriya oil field, after foreign firms failed to resume work…

Shell Will Soon Decide On Bonga Field Expansion

Shell Will Soon Decide On Bonga Field Expansion

Aug 01, 2018 at 09:07 | Irina Slav

Shell is close to making the final investment decision on the expansion of its deepwater Bonga field in Nigeria, S&P Platts reports, citing a statement from Shell Nigeria Exploration…

Surprise Crude Oil Inventory Build Sends Prices Lower

Surprise Crude Oil Inventory Build Sends Prices Lower

Jul 31, 2018 at 15:53 | Julianne Geiger

The American Petroleum Institute (API) reported a crude oil inventory build of 5.59 million barrels of United States crude oil inventories for the week ending July 28, compared to analyst…

BP Lifts Dividend For The First Time Since 2014 Oil Price Crash

BP Lifts Dividend For The First Time Since 2014 Oil Price Crash

Jul 31, 2018 at 13:54 | Tsvetana Paraskova

BP (NYSE:BP) announced on Tuesday the first dividend increase since the oil prices started crashing in 2014, as it quadrupled second-quarter earnings from a year ago. BP reported…

Major Asian Buyers Slash Iranian Oil Imports To 7-Month-Low

Major Asian Buyers Slash Iranian Oil Imports To 7-Month-Low

Jul 31, 2018 at 13:28 | Tsvetana Paraskova

The top Asian oil importers and Iranian oil customers—China, India, Japan, and South Korea—bought in June their lowest combined volume of Iranian oil in seven months, as South Korea slashed…

Iran: Saudis Can’t Replace Our Oil

Iran: Saudis Can’t Replace Our Oil

Jul 31, 2018 at 11:23 | Irina Slav

U.S. President Trump is wrong to expect that Saudi Arabia and other large producers can compensate for the decline in Iranian crude oil supply resulting from the renewed U.S. sanctions…

Scotland’s Oil Industry Is Returning To Life

Scotland’s Oil Industry Is Returning To Life

Jul 31, 2018 at 11:18 | Irina Slav

Scotland’s oil industry is beginning to show signs of recovery after the most recent downturn, a local port authority said, with a spokeswoman noting that “We have more rigs in…

State Dept Greenlights New Keystone XL Route

State Dept Greenlights New Keystone XL Route

Jul 31, 2018 at 09:17 | Irina Slav

An environmental assessment of the Keystone Xl pipeline project by the State Department has concluded it will be safe for Nebraska’s water, land, and wildlife, which could probably be…

India Cuts June Oil Purchases From Iran On U.S. Sanctions

India Cuts June Oil Purchases From Iran On U.S. Sanctions

Jul 30, 2018 at 16:32 | Tsvetana Paraskova

As U.S. sanctions on Iran are about to kick in later this year, Indian oil refiners reduced their orders for Iranian crude oil in June by 12 percent compared…

Higher Oil Prices Turn Texas Main Road Into The ‘Death Highway’

Higher Oil Prices Turn Texas Main Road Into The ‘Death Highway’

Jul 30, 2018 at 16:15 | Tsvetana Paraskova

Rising oil prices have led to an increase in trucking of frac sand, water, oilfield equipment, pipes, and fuel in West Texas. Together with the higher truck traffic on a…

Norwegian Firm Exceeds Targeted Kurdistan Oil Production

Norwegian Firm Exceeds Targeted Kurdistan Oil Production

Jul 30, 2018 at 14:57 | Tsvetana Paraskova

Norwegian oil and gas operator DNO ASA said on Monday that it had put a fourth well into production at the Peshkabir oil field in Iraq’s northern region of…

New Strike At Total’s North Sea Oil, Gas Platforms Begins

New Strike At Total’s North Sea Oil, Gas Platforms Begins

Jul 30, 2018 at 14:35 | Tsvetana Paraskova

Oil and gas rig workers started a 12-hour strike today at platforms in the North Sea operated by Total, in the latest industrial action by the employees who are…

Tesla To Add New AI Feature To Its Vehicles

Tesla To Add New AI Feature To Its Vehicles

Jul 30, 2018 at 11:41 | Irina Slav

Tesla plans to add a new artificial intelligence feature to its vehicles, the latest from Twitter has revealed. As Electrek reports, Elon Musk broke the news in response to…

U.S. Investigators: Maduro Took Part In PDVSA Money-Laundering Scheme

U.S. Investigators: Maduro Took Part In PDVSA Money-Laundering Scheme

Jul 30, 2018 at 08:53 | Irina Slav

A U.S. probe into the laundering of US$1 billion from Venezuela’s state-owned oil company PDVSA has spread to the country’s president, Nicolas Maduro, the Miami Herald reports, citing unnamed…

Total Starts Up Oil Production At Angola’s Biggest Deepwater Development

Total Starts Up Oil Production At Angola’s Biggest Deepwater Development

Jul 27, 2018 at 19:36 | Tsvetana Paraskova

France’s oil major Total said on Friday that it had started up oil production at the Kaombo area, which is currently the biggest deepwater development offshore Angola. Total and…

Chevron Announces Share Buybacks, But Misses On Earnings

Chevron Announces Share Buybacks, But Misses On Earnings

Jul 27, 2018 at 17:37 | Tsvetana Paraskova

Chevron Corporation (NYSE:CVX) announced on Friday much-awaited share repurchases in its Q2 earnings release, but investors were disappointed by a miss in profits despite the fact that the U.S.…

Japan Turns Up Oil-Fired Power Plants Amid Deadly Heat Wave

Japan Turns Up Oil-Fired Power Plants Amid Deadly Heat Wave

Jul 27, 2018 at 15:46 | Tsvetana Paraskova

Japanese utilities have resorted to starting up old crude oil- and fuel oil-fired power plants and ramping up the capacity of already operating oil-powered facilities as utilities try to…

Exxon Earnings Disappoint, Again

Exxon Earnings Disappoint, Again

Jul 27, 2018 at 13:33 | Tsvetana Paraskova

ExxonMobil (NYSE:XOM) reported on Friday an 18-percent annual increase in earnings per share for the second quarter, but missed—yet again—analyst expectations, and reported its lowest production in a decade.…

Iran Offers India Insurance, Tankers To Keep Oil Shipments

Iran Offers India Insurance, Tankers To Keep Oil Shipments

Jul 27, 2018 at 12:36 | Tsvetana Paraskova

Iran has started to offer India cargo insurance and tankers operated by Iranian companies as some Indian insurers have backed out of covering oil cargoes from Iran in the face…

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