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News

Oil Crumbles As API Reports Large Crude Build

Oil Crumbles As API Reports Large Crude Build

May 01, 2018 at 15:45 | Julianne Geiger

With oil prices already down on the day, the American Petroleum Institute (API) reported a large build of 3.427 million barrels of United States crude oil inventories for the week…

U.S. Becomes Second Most Attractive Renewables Market

U.S. Becomes Second Most Attractive Renewables Market

May 01, 2018 at 12:45 | Irina Slav

The United States has moved ahead in EY’s Renewable Energy Country Attractiveness Index and is now second only to China, the UK consultancy said in the latest edition of…

Alberta Energy Minister: Turning Off Oil Taps To B.C. Is No Bluff

Alberta Energy Minister: Turning Off Oil Taps To B.C. Is No Bluff

May 01, 2018 at 11:42 | Tsvetana Paraskova

The bitter dispute between Alberta and British Columbia over the Trans Mountain oil pipeline expansion project is heating up ahead of the May 31 deadline given by Kinder Morgan for…

Vancouver Drivers Pay The Highest Gas Prices In North America

Vancouver Drivers Pay The Highest Gas Prices In North America

May 01, 2018 at 10:19 | Irina Slav

Drivers in British Columbia’s largest city, Vancouver, pay the highest prices for gas at the pump in North America, data from GasBuddy has revealed. The average price per gallon of…

Despite Higher Profits, BP Disappoints With Q1 Cash Flow

Despite Higher Profits, BP Disappoints With Q1 Cash Flow

May 01, 2018 at 09:08 | Irina Slav

BP reported lower than expected cash flow for the first quarter of the year, disappointing investors despite the fact that the figure was 22 percent higher than in Q1…

Oil Prices Rise As Israeli PM Calls Iran Liar Over Nuclear Weapons Status

Oil Prices Rise As Israeli PM Calls Iran Liar Over Nuclear Weapons Status

Apr 30, 2018 at 17:39 | Julianne Geiger

Oil prices inched higher on Monday after Israeli Prime Minister Benjamin Netanyahu claimed that Israel had proof that Iran lied about its nuclear weapons program. The Brent Crude benchmark…

EPA Gives Biofuel Waiver To Billionaire Icahn’s Oil Refinery

EPA Gives Biofuel Waiver To Billionaire Icahn’s Oil Refinery

Apr 30, 2018 at 17:18 | Tsvetana Paraskova

The U.S. Environmental Protection Agency (EPA) has granted an oil refinery owned by billionaire Carl Icahn a waiver from the biofuel blending regulations—a waiver typically given to companies in financial…

U.S. Federal Renewables Subsidies Drop

U.S. Federal Renewables Subsidies Drop

Apr 30, 2018 at 17:07 | Tsvetana Paraskova

Total renewable-related federal subsidies in the United States dropped to US$6.7 billion in financial year 2016 from US$15.5 billion in FY 2013, a new report by the U.S. Energy…

$23.3 Billion Mega Deal Creates Largest U.S. Refiner

$23.3 Billion Mega Deal Creates Largest U.S. Refiner

Apr 30, 2018 at 15:54 | Tsvetana Paraskova

Marathon Petroleum Corp will buy Andeavor for US$23.3 billion in a deal that will create the largest U.S. refiner by capacity and a top-five refiner worldwide, the companies said…

Russian Regulator Clears Schlumberger For Eurasia Acquisition

Russian Regulator Clears Schlumberger For Eurasia Acquisition

Apr 30, 2018 at 14:23 | Irina Slav

Schlumberger has won the conditional approval of the Russian Federal Anti-Monopoly Service to acquire a stake of between 25 and 49 percent in Eurasia Drilling, which boasts a 20-percent…

B.C.’s Chances To Win Against Trans Mountain Uncertain

B.C.’s Chances To Win Against Trans Mountain Uncertain

Apr 30, 2018 at 13:05 | Irina Slav

British Columbia’s chances of getting the upper hand over Alberta and the federal government with regard to the Trans Mountain pipeline expansion are uncertain, according to lawyers and other legal…

Saudi Aramco Appoints First Woman To Board Of Directors

Saudi Aramco Appoints First Woman To Board Of Directors

Apr 30, 2018 at 11:42 | Tsvetana Paraskova

Saudi Aramco has appointed the first woman to its board of directors in what is seen as a milestone in the Kingdom where women executives are few and work…

Former BP Employee Says Moscow Tried To Poison Bob Dudley

Former BP Employee Says Moscow Tried To Poison Bob Dudley

Apr 30, 2018 at 09:55 | Irina Slav

The Kremlin poisoned BP’s chief executive Robert Dudley back in 2008 when he was the head of Rosneft-BP joint venture TNK-BP, a former employee of the company told the…

Uruguay’s First Oil Auction In 7 Years Fails To Attract Any Bids

Uruguay’s First Oil Auction In 7 Years Fails To Attract Any Bids

Apr 27, 2018 at 18:03 | Tsvetana Paraskova

Uruguay’s first oil auction in seven years that had offered 17 offshore blocks didn’t attract any bids by the April 26 deadline, Uruguay’s state-run oil company ANCAP said. Although…

Exxon Q1 Earnings Miss Despite Oil Price Rally

Exxon Q1 Earnings Miss Despite Oil Price Rally

Apr 27, 2018 at 17:48 | Tsvetana Paraskova

Despite the fact that higher crude oil prices helped ExxonMobil (NYSE:XOM) to lift its Q1 earnings, the U.S. supermajor on Friday missed Wall Street expectations and reported its weakest…

Nigeria State Firm Aims To Rival Oil Majors In Domestic Production

Nigeria State Firm Aims To Rival Oil Majors In Domestic Production

Apr 27, 2018 at 17:33 | Tsvetana Paraskova

State-held Nigerian National Petroleum Corporation (NNPC) aims to make its exploration and production unit—the Nigerian Petroleum Development Company (NPDC)—the top oil producer in the country, local media quoted NNPC…

India Looks To Open Up Natural Gas Sector By Splitting State Firm GAIL

India Looks To Open Up Natural Gas Sector By Splitting State Firm GAIL

Apr 27, 2018 at 15:38 | Tsvetana Paraskova

India wants to split its biggest gas marketing and trading firm, state-run GAIL (India) Ltd, into two separate companies by the end of March 2019, in a bid to open…

Angolan Oil Production Falls Rapidly

Angolan Oil Production Falls Rapidly

Apr 27, 2018 at 13:05 | Irina Slav

Crude oil production in Angola is falling rapidly on lack of investments in offshore fields and this could tip the oil market into a deficit, Bloomberg reports, citing shipping…

If B.C. Wins Case On Environment, So Will Alberta

If B.C. Wins Case On Environment, So Will Alberta

Apr 27, 2018 at 11:25 | Irina Slav

If the British Columbia Court of Appeal grants the provincial government the powers to regulate oil flows through its territory, then Alberta would by analogy gain the same right, which…

City Evacuated After Explosion At Wisconsin Refinery Injures 20

City Evacuated After Explosion At Wisconsin Refinery Injures 20

Apr 27, 2018 at 09:10 | Irina Slav

An explosion at a Husky Energy refinery in Wisconsin yesterday injured at least 20 people before the fire was put out, media report. Residents of Superior have been encouraged…

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