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News

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…

Enbridge To Sell More Than $7B In Non-Core Assets

Enbridge To Sell More Than $7B In Non-Core Assets

Apr 05, 2018 at 16:27 | Tsvetana Paraskova

Enbridge is looking to cut its 50-percent stake in a German offshore wind project, Bloomberg reported on Thursday, citing sources familiar with the plan that comes as the Canadian…

Russia-led Nord Stream 2 Gas Pipeline Gets First Permit In Finland

Russia-led Nord Stream 2 Gas Pipeline Gets First Permit In Finland

Apr 05, 2018 at 16:14 | Tsvetana Paraskova

Finland granted on Thursday a permit to Gazprom-led Nord Stream 2 to use the Finnish Exclusive Economic Zone (EEZ) for the construction of the natural gas pipeline planned to…

Dated Brent Oil Differential Dips To Lowest Since November 2015

Dated Brent Oil Differential Dips To Lowest Since November 2015

Apr 05, 2018 at 13:44 | Tsvetana Paraskova

Sluggish April cargo buying sent the North Sea Dated Brent benchmark differential to the lowest in nearly two and a half years on Wednesday, S&P Global Platts data showed.…

Creditor Opposes Russian Oil Tycoon’s Plan To Oust Glencore As Shareholder

Creditor Opposes Russian Oil Tycoon’s Plan To Oust Glencore As Shareholder

Apr 05, 2018 at 13:00 | Tsvetana Paraskova

Sberbank, the top Russian state lender and major creditor of the two oil companies of billionaire Mikhail Gutseriyev, is against a plan by the tycoon to merge the firms and…

BP Bets Big On India

BP Bets Big On India

Apr 05, 2018 at 11:01 | Irina Slav

BP expects up to a tenth of its total earnings to come from India over the next ten years, but not from oil: the company will focus on natural…

India To Offer Up To $4B For Iranian Gas Field Development

India To Offer Up To $4B For Iranian Gas Field Development

Apr 05, 2018 at 09:37 | Irina Slav

India will offer Iran a US$3-4 billion investment plan for the giant Farzad B gas field in a bid to secure its participation in the project that last year led…

New Document Suggests Shell Knew About Climate Change 30 Years Ago

New Document Suggests Shell Knew About Climate Change 30 Years Ago

Apr 05, 2018 at 09:15 | Irina Slav

An internal Shell report from 1988 has revealed the supermajor was aware of the effect of its business on climate. The report, uncovered by Dutch journalist Jelmer Mommers from the…

Venezuelan Crude Exports To U.S. Gulf Coast Refiners Plunge

Venezuelan Crude Exports To U.S. Gulf Coast Refiners Plunge

Apr 04, 2018 at 16:48 | Julianne Geiger

Gulf Coast Refineries in the United States are importing crude oil from other countries in order to insulate themselves from possible US-imposed sanctions on Venezuela. Using data compiled in part…

UK Oil Wealth Fund Would Have Been Worth $703 Billion Today

UK Oil Wealth Fund Would Have Been Worth $703 Billion Today

Apr 04, 2018 at 16:38 | Tsvetana Paraskova

If the UK had established in the 1980s a wealth fund in which to invest North Sea oil revenues—similar to what Norway actually did in the 1990s—a UK fund would…

Environmental Group Vows To Sue Shell Over Climate Change

Environmental Group Vows To Sue Shell Over Climate Change

Apr 04, 2018 at 16:22 | Tsvetana Paraskova

In the latest legal campaign against Big Oil, Friends of the Earth Netherlands vowed on Wednesday to take Shell to court if it doesn’t act on demands to align its…

Big Oil Shuns Unexplored Acreage In Largest U.S Oil & Gas Lease Sale

Big Oil Shuns Unexplored Acreage In Largest U.S Oil & Gas Lease Sale

Apr 04, 2018 at 15:38 | Tsvetana Paraskova

The world’s biggest oil companies preferred to bid on areas close to existing infrastructure and largely stayed out of unexplored acreage in last month’s lease sale in the Gulf of…

Russian Gas Transit Via Ukraine Set For Major Slump

Russian Gas Transit Via Ukraine Set For Major Slump

Apr 04, 2018 at 13:13 | Irina Slav

Transit of Russian natural gas via Ukraine will be reduced to just about 10-12 billion cubic meters annually after the completion of two new pipelines—Turkish Stream and Nord Stream 2.…

Oil Prices Dip On Escalating U.S.-China Trade War

Oil Prices Dip On Escalating U.S.-China Trade War

Apr 04, 2018 at 10:21 | Tsvetana Paraskova

Despite a surprise crude oil inventory draw that the American Petroleum Institute (API) reported on Tuesday, oil prices fell by 2 percent early on Wednesday as the trade war…

Four Pipeline Operators Report Cyberattack

Four Pipeline Operators Report Cyberattack

Apr 04, 2018 at 09:07 | Irina Slav

Four gas pipeline operators in the U.S. have had to shut down their communications systems after breakdowns caused by cyberattacks, fueling fear of more hostile cyberactivity to come. Energy Transfer…

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