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News

Electricity Investment Exceeds Oil, Gas For Second Year In A Row

Electricity Investment Exceeds Oil, Gas For Second Year In A Row

Jul 17, 2018 at 11:54 | Tsvetana Paraskova

As the world’s energy sector moves toward greater electrification, investments in electricity surpassed investment in oil and gas for a second consecutive year in 2017, the International Energy Agency (IEA)…

Norwegian Firm Reports 60% Oil Production Growth In Kurdistan

Norwegian Firm Reports 60% Oil Production Growth In Kurdistan

Jul 17, 2018 at 10:03 | Tsvetana Paraskova

Norwegian oil and gas operator DNO ASA has boosted its oil production at the Tawke license in Iraq’s northern Kurdistan region by two-thirds to 25,000 bpd, the company said…

Shell Lifts Force Majeure On Nigeria’s Bonny Light Oil Exports

Shell Lifts Force Majeure On Nigeria’s Bonny Light Oil Exports

Jul 17, 2018 at 09:15 | Tsvetana Paraskova

After nearly two months, Royal Dutch Shell has lifted the force majeure on one of Nigeria’s largest and most popular grades, Bonny Light, after a pipeline carrying the oil…

Permian Pipeline Project Denied Tariff Exemption

Permian Pipeline Project Denied Tariff Exemption

Jul 17, 2018 at 07:59 | Tsvetana Paraskova

he U.S. Administration has rejected the request of Plains All American Pipeline to exempt its US$1.1-billion Cactus II pipeline in the Permian from the 25-percent tariff on steel imports…

EIA: Seven Major US Shale Regions To Hit New Production Records

EIA: Seven Major US Shale Regions To Hit New Production Records

Jul 16, 2018 at 16:41 | Julianne Geiger

Oil production in the seven most prolific US shale regions will hit new highs next month, according to the Energy Information Administration’s monthly Drilling Productivity Report released on Monday…

Iraqi Protests Threaten Oil Production

Iraqi Protests Threaten Oil Production

Jul 16, 2018 at 16:34 | Damir Kaletovic

At least five people have been killed since the beginning of protests in southern Iraq’s oil hub earlier this month, as security forces respond with a hard hand…

Ontario Kills Renewable Energy Projects To Bring Bills Down

Ontario Kills Renewable Energy Projects To Bring Bills Down

Jul 16, 2018 at 16:28 | Tsvetana Paraskova

The new Ontario government is canceling or winding down 758 renewable energy contracts that will see more than 200 projects killed off in southwestern Ontario as the newly sworn-in…

Surprise Tesla Sales In Russia Get Surprise Tesla SaA Boost From Online Retailer

Surprise Tesla Sales In Russia Get Surprise Tesla SaA Boost From Online Retailer

Jul 16, 2018 at 14:55 | Tsvetana Paraskova

Tesla is set to receive a sales bump in Russia after a mobile-phone retailer teamed up with a local importer to offer sales of the electric vehicles (EVs) on the…

India’s Oil Ministry Favors Ban On Petcoke Imports

India’s Oil Ministry Favors Ban On Petcoke Imports

Jul 16, 2018 at 14:49 | Tsvetana Paraskova

The oil ministry of India is in favor of the country placing a ban on imports of petroleum coke, the government’s lawyer told the Supreme Court on Monday, as…

Ireland To Move All Its Oil Reserves Out Of The UK As Brexit Nears

Ireland To Move All Its Oil Reserves Out Of The UK As Brexit Nears

Jul 16, 2018 at 10:22 | Tsvetana Paraskova

The Irish government is expected to agree this week on a plan to move all of the Republic’s oil reserves out of the UK as Ireland steps up its preparations…

Iran Urges Trump: Don’t Tap SPR To Lower Oil Prices, Drop Sanctions Instead

Iran Urges Trump: Don’t Tap SPR To Lower Oil Prices, Drop Sanctions Instead

Jul 16, 2018 at 10:17 | Tsvetana Paraskova

Iran is urging U.S. President Donald Trump not to tap the U.S. Strategic Petroleum Reserve (SPR) to bring oil prices down, but drop the sanctions against Tehran instead. A…

Employee Abductions Cut Libya’s Oil Production By 160,000 Bpd

Employee Abductions Cut Libya’s Oil Production By 160,000 Bpd

Jul 16, 2018 at 09:05 | Tsvetana Paraskova

Just a few days after Libya reopened its eastern oil ports and started to ramp up production that had been offline for weeks, production at one of the country’s largest…

Russia Plans $50 Billion Investment In Iran’s Oil, Gas Industry

Russia Plans $50 Billion Investment In Iran’s Oil, Gas Industry

Jul 13, 2018 at 17:12 | Tsvetana Paraskova

Russia is getting ready to invest US$50 billion in Iran’s oil and gas industry as the two countries continue to seek closer ties, just as the United States is…

Aker BP: Norway Oil Strike Would Hit Production If It Lasts A Month

Aker BP: Norway Oil Strike Would Hit Production If It Lasts A Month

Jul 13, 2018 at 17:05 | Tsvetana Paraskova

Norway’s ongoing oil workers’ strike—currently in its fourth day and is set to worsen next week—would have to drag on for around a month for it to affect oil…

Kurds In Syria Share Oil With Government As Part Of A Deal

Kurds In Syria Share Oil With Government As Part Of A Deal

Jul 13, 2018 at 15:55 | Tsvetana Paraskova

Kurds in Syria are sharing part of the oil pumped at oil fields with the Syrian government under a recently signed deal that is working, Russian news outlet Sputnik

Chevron’s Stock Rebounds After Turbulent Week

Chevron’s Stock Rebounds After Turbulent Week

Jul 13, 2018 at 13:23 | Julianne Geiger

Chevron Corporation’s (NYSE:CVX) stock fell sharply on Wednesday as an Ecuadorian court upheld a multi-billion dollar judgement against the oil giant. Since then the U.S. oil major saw its…

U.S. To Slap Sanctions On All Iranian Oil Buyers

U.S. To Slap Sanctions On All Iranian Oil Buyers

Jul 13, 2018 at 12:55 | Tsvetana Paraskova

The United States intends to impose sanctions on all customers of Iranian oil, including China, the EU, and Russia, Treasury Secretary Steven Mnuchin said on Thursday, signaling that the…

A World-First: Ireland Plans To Exit Fossil Fuel Investments Entirely

A World-First: Ireland Plans To Exit Fossil Fuel Investments Entirely

Jul 13, 2018 at 11:45 | Irina Slav

Ireland could become the first country in the world to quit fossil fuel investments completely, after the Fossil Fuel Divestment bill was passed by the country’s lower house, the Dáil…

Puerto Rico Utility Board Resigns

Puerto Rico Utility Board Resigns

Jul 13, 2018 at 10:59 | Irina Slav

Five of the seven members of the Puerto Rico utility board resigned yesterday amid a huge restructuring following the severe damage the country suffered from Hurricane Maria, Reuters reports,…

U.S. Asks UN To Stop Oil Products To North Korea Immediately

U.S. Asks UN To Stop Oil Products To North Korea Immediately

Jul 13, 2018 at 08:41 | Tsvetana Paraskova

The United States has asked the UN Security Council to impose an immediate stop to all shipments of refined oil products to North Korea, after finding that Kim Jong-un’s regime…

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