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Breaking News:

Oil Prices Gain 2% on Tightening Supply

Will Waning Gasoline Demand Drag Oil Prices Down?

Will Waning Gasoline Demand Drag Oil Prices Down?

Oil markets were looking forward…

Why Morgan Stanley Says to Buy Energy Stocks Right Now

Why Morgan Stanley Says to Buy Energy Stocks Right Now

Morgan Stanley remains pessimistic about…

News

IEA: Five-Year Average Oil Market Balance Within Sight

IEA: Five-Year Average Oil Market Balance Within Sight

Apr 10, 2018 at 14:15 | Tsvetana Paraskova

The oil market balance as OPEC and allies set in their production cut deal—bringing inventories down to their five-year average—could be reached in two or three months or so, Neil…

Abu Dhabi Launches First-Ever Competitive Oil & Gas Bid Round

Abu Dhabi Launches First-Ever Competitive Oil & Gas Bid Round

Apr 10, 2018 at 13:04 | Tsvetana Paraskova

The Abu Dhabi National Oil Company (ADNOC) is offering six oil and gas blocks for bidding in a first-ever competitive exploration and production bid round as part of its…

Venezuelan Constituent Assembly Approves Oil-Backed Cryptocurrency

Venezuelan Constituent Assembly Approves Oil-Backed Cryptocurrency

Apr 10, 2018 at 11:31 | Irina Slav

Venezuela’s National Constituent Assembly has finally given the go-ahead to the country’s oil-backed cryptocurrency, El Petro, after the parliament declared it unconstitutional. According to a statement by Vice President…

Total, Aramco To Build $9B Petrochemical Complex

Total, Aramco To Build $9B Petrochemical Complex

Apr 10, 2018 at 11:13 | Tsvetana Paraskova

France’s oil major Total and Saudi Aramco signed on Tuesday a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia, which will see total investments…

CNPC Boss Optimistic About US-China Relations

CNPC Boss Optimistic About US-China Relations

Apr 10, 2018 at 10:39 | Irina Slav

Energy relations between the United States and China will deepen in the future, the chairman of state energy giant CNPC, Wang Yilin said in an interview with Bloomberg this week…

Ottawa In Emergency Meeting Over Trans Mountain Pipeline

Ottawa In Emergency Meeting Over Trans Mountain Pipeline

Apr 10, 2018 at 09:04 | Irina Slav

Canada’s federal cabinet is to hold an emergency meeting today after yesterday Kinder Morgan’s Chairman Steven Kean warned that the company will suspend work on the Trans Mountain…

Australian LNG Revenue To Increase On Higher Exports, Higher Prices

Australian LNG Revenue To Increase On Higher Exports, Higher Prices

Apr 09, 2018 at 16:20 | Julianne Geiger

Australia is expecting an increase in the value of LNG exports from $23 billion to $39 billion, Australia’s Department of Industry, Innovation and Science said on Monday in its publication,…

Tesla Stock Falls After Vehicle Recall

Tesla Stock Falls After Vehicle Recall

Apr 09, 2018 at 15:41 | Julianne Geiger

Tesla’s stock fell on Monday after a new recall by China’s quality watchdog was issued on Monday for Tesla vehicles in China. Today’s recall announcement is in addition to…

Iraqi Court To Hear Oil Export Argument With Kurds In May

Iraqi Court To Hear Oil Export Argument With Kurds In May

Apr 09, 2018 at 15:32 | Damir Kaletovic

Normalizing relations between the Iraqi central government and Iraqi Kurdistan will take a new twist beginning in May when Iraq’s top court starts hearings on the issue with officials…

UK Could Agree On $1-Trillion Support Package For Oil Industry

UK Could Agree On $1-Trillion Support Package For Oil Industry

Apr 09, 2018 at 15:05 | Irina Slav

The UK government could be on its way on agreeing a massive support package—dubbed a sector deal—with the North Sea oil and gas industry, the Scottish Secretary of State David…

Saudi Exchange Ready For Aramco Listing

Saudi Exchange Ready For Aramco Listing

Apr 09, 2018 at 13:19 | Irina Slav

Saudi Arabia’s stock exchange Tadawul is experiencing an influx of foreign funds and expects even more in the future, confident that this will enable the bourse to accommodate the listing…

Saudi Companies To Splash Billions On Texas Petrochemical Investments

Saudi Companies To Splash Billions On Texas Petrochemical Investments

Apr 09, 2018 at 12:31 | Irina Slav

Saudi companies are prepared to invest billions in petrochemicals production in Texas, taking advantage of the abundance of cheap natural gas in the Permian and elsewhere in the shale…

Aker Eager To Put End To North Sea Platform Strike

Aker Eager To Put End To North Sea Platform Strike

Apr 09, 2018 at 10:20 | Irina Slav

Managers from Norwegian oil services company Aker Solutions are travelling to the Mariner platform in the North Sea where workers launched an unofficial strike over the weekend demanding better…

Kinder Morgan Threatens To Suspend Trans Mountain Project

Kinder Morgan Threatens To Suspend Trans Mountain Project

Apr 09, 2018 at 09:24 | Irina Slav

Kinder Morgan will suspend its Trans Mountain pipeline expansion project entirely if the legal issues surrounding it cannot be resolved by May 31, Chairman Steve Kean said, adding the…

Russian Firms To Invest $22.5 Billion In Oil Production In 2018

Russian Firms To Invest $22.5 Billion In Oil Production In 2018

Apr 06, 2018 at 16:26 | Tsvetana Paraskova

Russian companies are expected to invest US$22.5 billion (1.3 trillion rubles) in oil production this year, with crude output and exports forecast at the same levels as in 2017, Russia’s…

China Leads Global Renewable Investment With $126.6 Billion

China Leads Global Renewable Investment With $126.6 Billion

Apr 06, 2018 at 16:13 | Tsvetana Paraskova

China invested a total of US$126.6 billion in renewable energy in 2017, the highest figure ever and accounting for 45 percent of global green energy investment, the ‘Global Trends in…

Permian Oil Boom Threatens To Overtax Electrical Grid

Permian Oil Boom Threatens To Overtax Electrical Grid

Apr 06, 2018 at 13:44 | Tsvetana Paraskova

The shale boom in the Permian where companies are intensively drilling while keeping costs low has led to an unprecedented electricity demand in West Texas, straining the grid as local…

BP “Promoted” Oil Spills To Australian Watchdog

BP “Promoted” Oil Spills To Australian Watchdog

Apr 06, 2018 at 11:43 | Irina Slav

BP downplayed the risks of an oil spill in the Great Australian Bight, and even suggested that cleanup efforts—in case of such a spill—would be a “welcome boost” to the…

Lego Doubles Down On Renewables Investments

Lego Doubles Down On Renewables Investments

Apr 06, 2018 at 09:25 | Irina Slav

Lego’s owners are planning to spend more on renewables, after determining that what used to be an merely an ideal-driven investment strategy now makes financial sense too, Bloomberg reports,…

Tesla Bankruptcy Not So Far Fetched, Says Analyst

Tesla Bankruptcy Not So Far Fetched, Says Analyst

Apr 05, 2018 at 17:02 | Julianne Geiger

Just days after Elon Musk’s not-so-well-received April Fool’s tweet that spoke of Tesla’s imminent bankruptcy in jest, one analyst is predicting that that doesn’t seem so foolish after all. The…

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