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G7 Agrees To End Coal Use But Can It?

G7 Agrees To End Coal Use But Can It?

Despite big additions of renewable…

The Eagle Ford Is Turning Into A Natural Gas Haven

The Eagle Ford Is Turning Into A Natural Gas Haven

Producers and midstream companies are…

News

CEFC Drops European Expansion, CEO Steps Down

CEFC Drops European Expansion, CEO Steps Down

Mar 20, 2018 at 11:15 | Irina Slav

CEFC China Energy Co. has announced that it is abandoning its plans to acquire 50 percent in Czech-Slovak holding J&T Finance Group. This is the latest from an energy company…

Aramco Seeks Majority Stake In Massive Indian Refinery

Aramco Seeks Majority Stake In Massive Indian Refinery

Mar 20, 2018 at 09:10 | Irina Slav

Saudi Aramco is negotiating the acquisition of a majority stake in a massive oil refining complex set to be built in the western Indian state of Maharashtra, India’s Economic Times…

Uber Halts Autonomous Car Testing After Fatal Accident

Uber Halts Autonomous Car Testing After Fatal Accident

Mar 19, 2018 at 17:21 | Zainab Calcuttawala

An Uber self-driving SUV killed a woman crossing the street in Arizona, causing the pseudo-taxi companies to suspend its ambitious autonomous vehicle program, a new Reuters report says. The…

Saudi Arabia Boosts Diesel And Gasoline Exports

Saudi Arabia Boosts Diesel And Gasoline Exports

Mar 19, 2018 at 16:58 | Zainab Calcuttawala

Saudi Arabian diesel and gasoline exports reached record heights in January as the world’s largest oil exporter continues its compliance to the Organization of Petroleum Exporting Countries’ (OPEC) output cut…

Iraq To Expand Oil Production Capacity Via Manmade Island

Iraq To Expand Oil Production Capacity Via Manmade Island

Mar 19, 2018 at 16:54 | Zainab Calcuttawala

Iraq’s latest attempt to expand oil production capacity has the oil ministry considering a plan to inject seawater into underwater crude deposits from a manmade island, according to a new…

Iran Plans To Award $6 Billion Oil Contracts To Local Firms

Iran Plans To Award $6 Billion Oil Contracts To Local Firms

Mar 19, 2018 at 14:37 | Tsvetana Paraskova

Iran will be looking to sign US$6 billion worth of oil contracts with local drilling and production companies in the next Iranian calendar year that starts on March 21, 2018,…

Rosneft Doubles Q4 Profit After Settling Sistema Dispute

Rosneft Doubles Q4 Profit After Settling Sistema Dispute

Mar 19, 2018 at 14:21 | Tsvetana Paraskova

Russia’s oil giant Rosneft reported on Monday a fourth-quarter net profit, meeting analyst expectations and coming in at more than double the third quarter profit after it settled a…

Eni To Reduce Its Oil Production In Libya

Eni To Reduce Its Oil Production In Libya

Mar 19, 2018 at 11:55 | Tsvetana Paraskova

Eni will reduce its oil production in Libya to 200,000 bpd in 2021 from the current 320,000 bpd, Claudio Descalzi, chief executive of the Italian oil major, said at…

Total Inks Two 40-Year Oil Concessions In UAE

Total Inks Two 40-Year Oil Concessions In UAE

Mar 19, 2018 at 11:43 | Irina Slav

French Total has signed two 40-year concessions worth a combined US$1.45-billion with the Abu Dhabi National Oil Company, or Adnoc. The concessions are for 20 percent in the Umm…

Oil Majors Look To Gain Clarity On Sanctions Against Russia

Oil Majors Look To Gain Clarity On Sanctions Against Russia

Mar 16, 2018 at 15:13 | Zainab Calcuttawala

The Italian oil major Eni will discuss sanctions against Russia with authorities in the European Union and the United States to gain clarity on the economic rivalry forming between President…

Nigerian Petroleum Reforms To Be Signed Into Law

Nigerian Petroleum Reforms To Be Signed Into Law

Mar 16, 2018 at 15:06 | Zainab Calcuttawala

Nigeria’s long-awaited Petroleum Industry Governance Bill (PIGB) will be signed into law by President Muhammadu Buhari towards the end of March, legislators hope, according to Reuters. The OPEC nation…

Chicago Gasoline Highest-Flying Commodity Benchmark In Trump Era

Chicago Gasoline Highest-Flying Commodity Benchmark In Trump Era

Mar 16, 2018 at 11:29 | Tsvetana Paraskova

Between U.S. President Donald Trump’s inauguration on January 20, 2017, and end-February 2018, eight out of 11 commodity benchmark prices tracked by S&P Global Platts increased, with Chicago CBOB Gasoline…

European Gas Glut Forces Traders To Store Fuel On Tankers

European Gas Glut Forces Traders To Store Fuel On Tankers

Mar 16, 2018 at 11:25 | Tsvetana Paraskova

Traders have booked in recent weeks at least three tankers to store summer-grade gasoline off the coasts of the Netherlands as supplies in northwest Europe have steadily increased this year,…

Enbridge Clears Minnesota Hurdle For Line 3 Replacement

Enbridge Clears Minnesota Hurdle For Line 3 Replacement

Mar 16, 2018 at 11:19 | Irina Slav

Minnesota’s Public Utilities commission voted unanimously to approve the final environmental review of the proposed replacement of Enbridge’s Line 3 oil pipeline. Enbridge has proposed to replace the existing infrastructure…

FERC To Address Tax Reform Effect On Oil, Gas, Utilities

FERC To Address Tax Reform Effect On Oil, Gas, Utilities

Mar 16, 2018 at 11:11 | Irina Slav

The Federal Energy Regulatory Commission has outlined the steps it would take to make sure that the clients of utilities and oil and gas pipeline operators don’t bear any financial…

Amnesty Slams Shell, Eni For Negligence In Niger Delta

Amnesty Slams Shell, Eni For Negligence In Niger Delta

Mar 16, 2018 at 09:33 | Irina Slav

Amnesty International has accused Shell and Eni of being negligent regarding oil spills in the Niger Delta—a veritable disaster site after decades of spills, sabotages, and oil theft. The…

BP To Sell Oilfields In Egypt To Shift Focus To Natural Gas

BP To Sell Oilfields In Egypt To Shift Focus To Natural Gas

Mar 15, 2018 at 17:25 | Zainab Calcuttawala

British Petroleum has begun to sell off its mature oil fields in Egypt to shift its focus to developing the country’s large natural gas reserves, according to a new report…

New U.S. State Secretary Could Discourage Global Oil Output

New U.S. State Secretary Could Discourage Global Oil Output

Mar 15, 2018 at 17:05 | Zainab Calcuttawala

Incoming State Secretary Mike Pompeo could change foreign policy in a way that could trigger the loss of 1.4 million barrels per day in global crude supply s ence…

Russia, Ukraine To Discuss Latest Gas Dispute By End-March

Russia, Ukraine To Discuss Latest Gas Dispute By End-March

Mar 15, 2018 at 15:52 | Tsvetana Paraskova

Ukraine’s state-held gas company Naftogaz and Russia’s gas giant Gazprom will meet by the end of March to discuss the new dispute over gas supplies between the two countries, the…

BP: Technology Could Lower Oil Production Costs By 30 Percent

BP: Technology Could Lower Oil Production Costs By 30 Percent

Mar 15, 2018 at 12:41 | Tsvetana Paraskova

Better technology could reduce the average production costs of all oil and gas resource classes by around 30 percent per barrel of oil equivalent by 2050, oil and gas supermajor…

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