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News

Ukraine Seizes Gazprom Assets To Enforce $2.6B Court Award

Ukraine Seizes Gazprom Assets To Enforce $2.6B Court Award

Jun 05, 2018 at 14:39 | Tsvetana Paraskova

Ukraine’s Naftogaz said on Tuesday that a Dutch court had approved its petition to freeze Gazprom assets in the Netherlands as the Ukrainian company seeks to enforce the payment…

Why Have Oil Markets Turned So Bearish?

Why Have Oil Markets Turned So Bearish?

Jun 05, 2018 at 13:55 | Tsvetana Paraskova

Oil prices slid early on Tuesday, as reports of the U.S. asking OPEC to lift oil production and hedge funds boosting their short positions added to bearish sentiment. Rising geopolitical…

Canadian Crude Surges on Enbridge Pipeline Allocation Decision

Canadian Crude Surges on Enbridge Pipeline Allocation Decision

Jun 05, 2018 at 12:41 | Irina Slav

Canadian crude oil surged by $12.20 a barrel after Enbridge, the country’s biggest oil export pipeline operator said it will not make oil producers stick to crude allocation limits for…

Trans Mountain Supporters Make Anti-Pipeline Protest Their Own

Trans Mountain Supporters Make Anti-Pipeline Protest Their Own

Jun 05, 2018 at 10:49 | Irina Slav

An anti-pipeline protest in Calgary involving a couple of dozen people quickly turned into a pro-pipeline rally yesterday when a much bigger group of Trans Mountain supporters took over the…

Colorado Drillers Throw Weight Behind Ozone Reduction

Colorado Drillers Throw Weight Behind Ozone Reduction

Jun 05, 2018 at 09:17 | Irina Slav

Oil and gas drillers in Colorado will tweak their drilling and completion schedules for the summer as a way of supporting the state’s efforts to reduce ozone emissions, which seasonally…

Airlines Warn: Air Fares To Rise Despite Fuel Hedges

Airlines Warn: Air Fares To Rise Despite Fuel Hedges

Jun 04, 2018 at 18:28 | Tsvetana Paraskova

The oil price run over the past year will result in higher ticket fares, even if many air carriers have hedged fuel at lower prices, according to industry executives and…

Kenya Starts Its First-Ever Crude Oil Exports

Kenya Starts Its First-Ever Crude Oil Exports

Jun 04, 2018 at 18:00 | Tsvetana Paraskova

Kenya sent on Sunday the first trucks transporting crude oil from the oil-rich but landlocked northern region of Turkana to the port of Mombassa, for the country’s first oil…

India Imports Its First LNG From Russia

India Imports Its First LNG From Russia

Jun 04, 2018 at 17:50 | Tsvetana Paraskova

India received on Monday its first liquefied natural gas (LNG) cargo from Russia under a long-term supply contract with Gazprom, in a move that Indian Oil Minister Dharmendra Pradhan…

Tesla Shareholders Can Vote To Oust Musk As Chairman Via New App

Tesla Shareholders Can Vote To Oust Musk As Chairman Via New App

Jun 04, 2018 at 17:40 | Tsvetana Paraskova

A New York technology start-up that wants to make voting accessible to retail shareholders will debut for Tesla’s shareholders’ meeting on June 5 at which Tesla investors will be…

Aramco Separates Non-Oil From Core Oil Assets Ahead Of IPO

Aramco Separates Non-Oil From Core Oil Assets Ahead Of IPO

Jun 04, 2018 at 13:03 | Tsvetana Paraskova

Saudi Aramco is restructuring its non-oil businesses into subsidiaries and possible spin-offs as it aims to streamline operations and achieve a higher valuation for its profitable core oil business ahead…

Tesla Won’t Offer Leasing Options For Model 3 Yet

Tesla Won’t Offer Leasing Options For Model 3 Yet

Jun 04, 2018 at 11:11 | Irina Slav

Tesla won’t start offering leasing options for the Model 3 for another six to nine months, CEO Elon Musk said on Twitter in response to a question from a fellow…

The G7 Spends $100 Billion On Fossil Fuel Subsidies

The G7 Spends $100 Billion On Fossil Fuel Subsidies

Jun 04, 2018 at 09:17 | Irina Slav

The world’s richest economies still subsidize their oil, gas, and coal use, investing more than US$100 billion annually in subsidies, a report from the Overseas development Institute has revealed.…

Saudis May Hike July Oil Prices To Asia To More Than 4-Year-High

Saudis May Hike July Oil Prices To Asia To More Than 4-Year-High

Jun 01, 2018 at 16:56 | Tsvetana Paraskova

Saudi Arabia may raise again its official selling prices (OSPs) for oil bound for Asia in July, and the price of its flagship Arab Light crude could reach its highest…

Total CEO: Chances Of Iran Sanctions Waiver Are ‘Very Slim’

Total CEO: Chances Of Iran Sanctions Waiver Are ‘Very Slim’

Jun 01, 2018 at 16:34 | Tsvetana Paraskova

The chances of France’s Total obtaining a U.S. waiver from the returning sanctions on Iran are not good, Total’s chief executive Patrick Pouyanné told the shareholders’ meeting on Friday. “The…

Pope Francis To Discuss Climate Change With Big Oil

Pope Francis To Discuss Climate Change With Big Oil

Jun 01, 2018 at 16:33 | Tsvetana Paraskova

At a time when investors are piling pressure on Big Oil to take climate change seriously, top executives from some of the major global oil companies will be discussing climate…

Rosneft Challenges Gazprom On International Gas Markets

Rosneft Challenges Gazprom On International Gas Markets

Jun 01, 2018 at 16:21 | Tsvetana Paraskova

Russia’s largest oil producer Rosneft is increasingly challenging the biggest Russian gas producer and exclusive gas exporter Gazprom on gas markets outside Russia, Reuters reported on Friday, citing five…

Shell Launches Clean Gas Marketing Experiment

Shell Launches Clean Gas Marketing Experiment

Jun 01, 2018 at 13:41 | Irina Slav

Shell has decided to try marketing natural gas as a clean fuel by bundling it with certificates for carbon-reduction projects, Bloomberg reports, quoting Shell Energy Europe boss David Wells.…

Suncor Refinery Maintenance Creates Fuel Shortage In Canada

Suncor Refinery Maintenance Creates Fuel Shortage In Canada

Jun 01, 2018 at 12:59 | Irina Slav

Seasonal maintenance at Suncor’s refinery in Edmonton has created shortages of gasoline at Petro-Canada stations around Alberta, CBC reports. This has led drivers to start worrying that Petro-Canada’s competitors…

Venezuela Stops Oil Project Payment To Indian Firm, Owes $444M

Venezuela Stops Oil Project Payment To Indian Firm, Owes $444M

Jun 01, 2018 at 12:55 | Tsvetana Paraskova

Crisis-hit cash-strapped Venezuela has stopped payments due to the overseas arm of India’s top oil explorer for a joint Venezuelan project, which has resulted in the Latin American country piling…

Oil Price Jump Chases Bond Investors Out Of India

Oil Price Jump Chases Bond Investors Out Of India

Jun 01, 2018 at 10:00 | Irina Slav

Rising oil prices have weighed down the Indian rupee, making it the worst currency performer in Asia. As a result, bond investors, bond holders are dumping Indian debt at record…

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