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Big Oil’s Carbon Capture Conundrum

Big Oil’s Carbon Capture Conundrum

Energy experts and environmentalists express…

Russia's LNG Expansion Plans Hit the Wall

Russia's LNG Expansion Plans Hit the Wall

The Kremlin has set an…

News

Rosneft Vietnam Worried About South China Sea Drilling

Rosneft Vietnam Worried About South China Sea Drilling

May 17, 2018 at 12:49 | Irina Slav

Russia’s Rosneft earlier this week announced that it had started drilling a production well off the coast of Vietnam in the South China Sea. Today, two sources close to…

Asia’s Oil Bill May Hit $1 Trillion

Asia’s Oil Bill May Hit $1 Trillion

May 17, 2018 at 12:37 | Irina Slav

As Brent climbs closer to US$80, Asia’s oil expenses could reach US$1 trillion, Reuters reports, citing robust demand and a stronger greenback. This would likely have a marked negative…

Iran Braces For Lower Oil Exports To South Korea

Iran Braces For Lower Oil Exports To South Korea

May 17, 2018 at 11:32 | Irina Slav

Iran is expecting to see a decline in its crude oil exports to South Korea as a result of U.S. sanctions on tanker transport, the managing director of the National…

B.C. Threatens To Sue If Alberta Turns Oil Tap Off

B.C. Threatens To Sue If Alberta Turns Oil Tap Off

May 17, 2018 at 09:49 | Irina Slav

British Columbia is planning to take Alberta to court over legislation that will give Alberta the powers to turn the oil taps to B.C. off, B.C.’s PM and Attorney General…

Repsol Takes A Significant Step Towards Clean Energy

Repsol Takes A Significant Step Towards Clean Energy

May 16, 2018 at 17:49 | Tsvetana Paraskova

Spain’s oil and gas company Repsol will stop pursuing production growth in its upstream oil and gas division as it is getting ready for the energy transition, Bloomberg reports,…

French Total Hits The Brakes On Major Iranian Gas Project

French Total Hits The Brakes On Major Iranian Gas Project

May 16, 2018 at 17:48 | Julianne Geiger

Total SA has announced it will not go ahead with its South Pars Gas Project (SP11) unless it is granted a specific project waiver by the United States, along with…

Trump Could Target Venezuela’s Oil Industry After Sunday Vote

Trump Could Target Venezuela’s Oil Industry After Sunday Vote

May 16, 2018 at 17:23 | Tsvetana Paraskova

For months, the U.S. has signaled that it isn’t ruling out additional sanctions on Venezuela’s oil industry alongside the strict financial sanctions already in place, and oil analysts say that…

Iran Asks China To Keep Buying Its Oil After U.S. Sanctions

Iran Asks China To Keep Buying Its Oil After U.S. Sanctions

May 16, 2018 at 14:22 | Tsvetana Paraskova

A senior Iranian oil official asked Chinese state oil buyers this week to continue their oil import levels of Iran’s crude after the U.S. sanctions on Tehran return later this…

China Books 65% Rise In Oil Stockpiles In April

China Books 65% Rise In Oil Stockpiles In April

May 16, 2018 at 11:47 | Irina Slav

China’s crude oil inventories rose by 65.3 percent between March and April, or by 37.84 million barrels, on the back of lower refinery throughput rates and higher imports, S&P Platts…

Conoco Proceeds With More PDVSA Asset Seizures

Conoco Proceeds With More PDVSA Asset Seizures

May 16, 2018 at 09:36 | Irina Slav

ConocoPhillips has embargoed two cargoes of crude oil and fuel at a storage terminal in Aruba operated by Venezuelan PDVSA’s U.S. subsidiary Citgo, Reuters reports citing the Aruba government.…

Canada LNG Construction Could Start This Year

Canada LNG Construction Could Start This Year

May 16, 2018 at 09:17 | Irina Slav

A US$31.1-billion (C$40-billion) LNG project in British Columbia could begin construction by the end of the year as rising oil prices have improved the investment capacity of the companies…

Brazil To Give Petrobras Up To 2 Billion Barrels Of Oil To Settle Contract Dispu

Brazil To Give Petrobras Up To 2 Billion Barrels Of Oil To Settle Contract Dispu

May 15, 2018 at 16:58 | Tsvetana Paraskova

The Brazilian government may grant state-run oil firm Petrobras an additional 1 billion-2 billion barrels of oil to settle a long-running dispute over offshore reserves in an offshore area in…

Oil Prices Flat After API Reports Surprise Crude Build

Oil Prices Flat After API Reports Surprise Crude Build

May 15, 2018 at 15:45 | Julianne Geiger

As the price of Brent Crude hit multi-year highs earlier today, the American Petroleum Institute (API) reported a surprise build of 4.854 million barrels of United States crude oil inventories…

Maduro Buys Oil To Help Cuba While Venezuelans Starve

Maduro Buys Oil To Help Cuba While Venezuelans Starve

May 15, 2018 at 14:08 | Tsvetana Paraskova

Amid a desperate economic and humanitarian crisis in Venezuela, its socialist leader Nicolas Maduro is trying to shore up support from the few allies it has left, and has had…

Norway Expects Gas Exports Prices To Fall In 2019

Norway Expects Gas Exports Prices To Fall In 2019

May 15, 2018 at 13:03 | Tsvetana Paraskova

Norway expects its gas export prices to drop next year from the 2017 and 2018 levels as Europe will buy more liquefied natural gas (LNG) from other sources, the Norwegian…

Tanker Insurance Issues Could Stymie Iran’s Oil Exports

Tanker Insurance Issues Could Stymie Iran’s Oil Exports

May 15, 2018 at 12:22 | Tsvetana Paraskova

While the oil industry and market are still assessing the impact of the U.S. withdrawal from the Iran nuclear deal and the re-imposition of sanctions, the biggest hurdle to Iran’s…

Tankers Across The Caribbean Wait For PDVSA Payments

Tankers Across The Caribbean Wait For PDVSA Payments

May 15, 2018 at 09:55 | Irina Slav

Ten tankers carrying various oil products are sitting anchored across the Caribbean awaiting payment for the delivery from Venezuela’s PDVSA, unnamed sources told S&P Platts. The vessels hold more than…

Major Reorganization Going On At Tesla

Major Reorganization Going On At Tesla

May 15, 2018 at 09:48 | Irina Slav

Tesla is undergoing a major reorganization that includes streamlining activities and functions to improve its performance, the company confirmed after the Wall Street Journal reported it, citing an internal…

EDP Set To Reject $11B Chinese Takeover Offer

EDP Set To Reject $11B Chinese Takeover Offer

May 14, 2018 at 17:12 | Tsvetana Paraskova

The biggest energy company in Portugal— EDP-Energias de Portugal SA—is expected to reject a US$10.9 billion (9.1 billion euro) offer from its largest shareholder China Three Gorges that seeks to…

Rosneft Sees Net Profit Jump Sevenfold On Higher Oil Prices

Rosneft Sees Net Profit Jump Sevenfold On Higher Oil Prices

May 14, 2018 at 15:25 | Tsvetana Paraskova

Russia’s largest oil producer, state-controlled Rosneft, reported on Monday a sevenfold jump in its net profit for Q1 2018, on the back of significantly higher oil prices compared to…

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