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The Global Economic System is Reaching Its Limits

The Global Economic System is Reaching Its Limits

The world's economic myths, especially…

Geopolitical Tensions Fail to Spark Oil Price Surge

Geopolitical Tensions Fail to Spark Oil Price Surge

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Namibia Racks Up Another Major Offshore Oil Discovery

Namibia Racks Up Another Major Offshore Oil Discovery

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News

Eastern NOC Strengthens Hold On Oil Crescent

Eastern NOC Strengthens Hold On Oil Crescent

Jun 28, 2018 at 09:51 | Irina Slav

All oil export revenues from Libya’s Oil Crescent will be sent to a central bank in the eastern part of the country, according to eastern Libyan officials quoted by…

U.S. And Russia To Dominate World’s Oil & Gas Pipeline Spending

U.S. And Russia To Dominate World’s Oil & Gas Pipeline Spending

Jun 27, 2018 at 17:43 | Tsvetana Paraskova

The U.S. shale boom and the massive Russian expansion of natural gas pipelines will make the United States and Russia the dominant spenders on oil, petroleum products, and natural gas…

UK Starts Criminal Proceedings Against Unaoil For Corruption In Iraq

UK Starts Criminal Proceedings Against Unaoil For Corruption In Iraq

Jun 27, 2018 at 16:59 | Tsvetana Paraskova

The UK’s Serious Fraud Office (SFO) said on Tuesday that it had begun criminal proceedings against oil consultancies Unaoil Monaco SAM and Unaoil Ltd as part of an ongoing…

$110 Billion In Oil And Gas Projects Revived As Prices Rise

$110 Billion In Oil And Gas Projects Revived As Prices Rise

Jun 27, 2018 at 16:44 | Tsvetana Paraskova

Higher oil prices, lower offshore development costs, and improved gas demand outlook have made the oil and gas industry more confident in approving investment in new projects whose total worth…

Shell Exits Majnoon Oil Field In Iraq

Shell Exits Majnoon Oil Field In Iraq

Jun 27, 2018 at 13:49 | Tsvetana Paraskova

Shell has handed over the operations of the Majnoon oilfield in Iraq to Iraqi state-run Basra Oil Company, exiting the field as it said last year it would do, Reuters…

EPA Ignored Calls To Cut Biofuel Quota Waivers

EPA Ignored Calls To Cut Biofuel Quota Waivers

Jun 27, 2018 at 13:07 | Irina Slav

The Energy Protection Agency consistently ignored calls from the Energy Department to stop issuing—or lat least curb—waivers sought by refiners under biofuels regulation, Reuters reports, citing sources with knowledge…

Goldman Analyst Skeptic About Tesla Model 3 Deadline

Goldman Analyst Skeptic About Tesla Model 3 Deadline

Jun 27, 2018 at 11:10 | Irina Slav

A Goldman Sachs analyst that has been bearish on Tesla for years has written in a note to clients that the EV maker might once again fail to meet its…

Russia To Assess Legal Frame For Iranian Oil Imports

Russia To Assess Legal Frame For Iranian Oil Imports

Jun 27, 2018 at 08:49 | Irina Slav

Russia will assess its agreement with Iran to import crude oil in exchange for goods “from the legal point of view,” Energy Minister Alexander Novak told media following reports…

Oil Prices Rise After API Reports Major Crude Draw

Oil Prices Rise After API Reports Major Crude Draw

Jun 26, 2018 at 15:47 | Julianne Geiger

As oil prices continues to fall, the American Petroleum Institute (API) reported a major draw of 9.228 million barrels of United States crude oil inventories for the week ending June…

Icahn Boosts Stake As He Looks To Buy Permian Producer Energen

Icahn Boosts Stake As He Looks To Buy Permian Producer Energen

Jun 26, 2018 at 14:41 | Tsvetana Paraskova

Carl Icahn has increased his stake in Permian oil producer Energen Corporation, a filing to the SEC showed on Tuesday, after Icahn and hedge fund manager Keith Meister’s Corvex…

Kinder Morgan Announces $2B Permian Pipeline Project

Kinder Morgan Announces $2B Permian Pipeline Project

Jun 26, 2018 at 13:02 | Irina Slav

After it gave up the Trans Mountain pipeline expansion in its native Canada, Kinder Morgan has bet on a certain win in the pipeline-strapped Permian. The company announced it…

Audi Cancels Europe Launch Of Tesla Rival

Audi Cancels Europe Launch Of Tesla Rival

Jun 26, 2018 at 12:55 | Tsvetana Paraskova

Germany’s Audi has canceled a scheduled event in Brussels in August to launch its all-electric SUV, the e-tron, and will instead hold the event in the United States at…

Court Dismisses Anti-Big Oil Climate Change Case

Court Dismisses Anti-Big Oil Climate Change Case

Jun 26, 2018 at 11:59 | Irina Slav

District Judge William Alsup dismissed a case brought by the cities of San Francisco and Oakland against five Big Oil companies on the grounds that the matter fell within…

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…

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