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News

Iran: France’s Total Officially Quits South Pars Gas Project

Iran: France’s Total Officially Quits South Pars Gas Project

Aug 20, 2018 at 10:50 | Tsvetana Paraskova

French oil and gas major Total has officially left Iran due to the threat of secondary sanctions from the United States if it were to continue to do business…

Chevron Starts Work On Iraq Field Development Deal

Chevron Starts Work On Iraq Field Development Deal

Aug 20, 2018 at 09:17 | Irina Slav

U.S. supermajor Chevron has started work on a preliminary contract with the Iraqi government for the development of oil fields in southern Iraq, Reuters reports, citing Iraq’s Oil Ministry.…

Aramco Ready To Invest To Meet Future Oil Demand

Aramco Ready To Invest To Meet Future Oil Demand

Aug 17, 2018 at 16:58 | Julianne Geiger

Citing $1 trillion in planned investments lost since the market downturn began, Aramco’s chairman of the board of directors Khalid Al-Falih issued a battle cry to the world’s other oil…

Security Concerns Over Libya’s Oil Attracts Huge Freight Premiums

Security Concerns Over Libya’s Oil Attracts Huge Freight Premiums

Aug 17, 2018 at 14:29 | Tsvetana Paraskova

Persisting security concerns over Libya’s oil export capacity and the political divisions in the country fetch large tanker freight premiums for shipowners daring to call at Libyan ports for crude…

Analysts: Russia’s Oil Industry Won’t Crumble Under U.S. ‘Bill From Hell’

Analysts: Russia’s Oil Industry Won’t Crumble Under U.S. ‘Bill From Hell’

Aug 17, 2018 at 13:31 | Tsvetana Paraskova

The ‘bill from hell’ of hard-hitting sanctions against Russia that U.S. Senators introduced earlier this month is unlikely to have a wide-ranging impact on Russia’s oil industry, analysts and economists…

Production At Libya’s Largest Oil Field Risks Shutdown, Again

Production At Libya’s Largest Oil Field Risks Shutdown, Again

Aug 17, 2018 at 12:52 | Tsvetana Paraskova

Just as Libya’s oil production recovered to a two-month high of over 1 million bpd, fresh protests at the oil terminal and refinery servicing the country’s largest oil field, Sharara,…

Total To Boost Nigeria Oil Production By 200,000 Bpd

Total To Boost Nigeria Oil Production By 200,000 Bpd

Aug 17, 2018 at 11:35 | Irina Slav

French supermajor Total will increase Nigeria’s oil production by 200,000 bpd by the end of the year, a senior official from the local unit of the company said at…

SEC Tesla Probe Not New: Report

SEC Tesla Probe Not New: Report

Aug 17, 2018 at 09:29 | Irina Slav

The Securities and Exchange Commission has been investigating Tesla for misleading statements about its Model 3 for months, unnamed sources in the know told the Wall Street Journal, long…

India’s Reliance Declares Force Majeure At Major Export Refinery

India’s Reliance Declares Force Majeure At Major Export Refinery

Aug 16, 2018 at 17:45 | Tsvetana Paraskova

Profit margins from gasoline refining in Asia jumped to one-year highs after Indian refiner Reliance Industries declared on Wednesday force majeure on exports of its predominantly export-oriented Jamnagar refinery…

Fifth Strike At Total’s North Sea Oil, Gas Platforms Set For Aug 20th

Fifth Strike At Total’s North Sea Oil, Gas Platforms Set For Aug 20th

Aug 16, 2018 at 17:29 | Tsvetana Paraskova

Workers at three oil and gas platforms in the North Sea operated by Total will go ahead with the planned 24-hour strike on August 20, after a meeting with…

UK Govt Stops Asking Public About Fracking As Shale Drilling Starts

UK Govt Stops Asking Public About Fracking As Shale Drilling Starts

Aug 16, 2018 at 17:24 | Tsvetana Paraskova

The UK government’s latest quarterly public attitudes tracker has dropped the question about how people feel about fracking, just as Cuadrilla Resources is preparing to start hydraulic fracturing in…

Angola Overhauls Block Sales Process To Boost Oil Production

Angola Overhauls Block Sales Process To Boost Oil Production

Aug 16, 2018 at 13:27 | Tsvetana Paraskova

Angola’s new President Joao Lourenco continues with reforms aimed at reversing the country’s oil production decline, by creating an agency that will sell and manage oil blocks instead of…

Iran Says German Oil Company Looking To Make Deal Despite Sanctions

Iran Says German Oil Company Looking To Make Deal Despite Sanctions

Aug 16, 2018 at 13:10 | Tsvetana Paraskova

German company ADL and Iran’s Sepahan Oil Company (SOC) have signed an agreement to cooperate in technology transfer in oil and gas industry lubricants, Iranian media report. European embassies…

Rupee Depreciation To Raise India’s Oil Bill By $26B

Rupee Depreciation To Raise India’s Oil Bill By $26B

Aug 16, 2018 at 12:57 | Irina Slav

A cheaper rupee could increase India’s crude oil bill by as much as US$26 billion in FY 2018/19, according to Indian government officials. The currency hit a low of…

China Gas To Boost LPG Imports Threefold

China Gas To Boost LPG Imports Threefold

Aug 16, 2018 at 11:02 | Irina Slav

China Gas plans to increase its annual imports of liquefied petroleum gas from 2.8 million tons to 10 million tons during the next five years as it enters the petrochemicals…

Iraqi Oil Ministry Bans Kurdish Language In Documents

Iraqi Oil Ministry Bans Kurdish Language In Documents

Aug 16, 2018 at 09:30 | Irina Slav

The Iraqi Oil Ministry has banned the use of Kurdish words in official documents, threatening Kurdish employees with lawsuits if they violate the ban, Kurdish media report, citing a…

Ghana Set To Increase Oil Production Capacity In TEN Field

Ghana Set To Increase Oil Production Capacity In TEN Field

Aug 15, 2018 at 17:32 | Julianne Geiger

Tullow’s TEN oilfield will reach full capacity in 2020, according to Tullow’s external affairs director Cynthia Lumor, cited by Reuters. Tullow’s current capacity in TEN (Tweneboa, Enyenra, and Ntomme)…

U.S. Swings and Misses With Latest Offshore Lease Auction

U.S. Swings and Misses With Latest Offshore Lease Auction

Aug 15, 2018 at 16:46 | Julianne Geiger

The latest US auction for offshore leases failed to attract as much interest as many had hoped, with the results mildly superior to the previous auction for offshore leases conducted…

China Shuns U.S. Crude Despite Taking Oil Off Tariff List

China Shuns U.S. Crude Despite Taking Oil Off Tariff List

Aug 15, 2018 at 16:40 | Tsvetana Paraskova

Chinese refiners may have been relieved by Beijing’s decision to remove U.S. crude oil from the list of goods in the latest tariff tit-for-tat with the United States, but…

Iran Oil Minister To Press OPEC On Production Quotas

Iran Oil Minister To Press OPEC On Production Quotas

Aug 15, 2018 at 14:30 | Irina Slav

Iran’s Oil Minister Bijan Zanganeh will attend the September meeting of the Joint Ministerial Monitoring Committee of OPEC and Russia and will probably press his OPEC partners to preserve original…

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