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News

Total Enters Guyanese Offshore Drilling Game

Total Enters Guyanese Offshore Drilling Game

Feb 05, 2018 at 16:59 | Zainab Calcuttawala

Total said that it has expanded its footprint in South America by investment in offshore blocks near Guyana, according to a new report by UPI. The contracts, which the…

Iraqi Forces To Secure Iranian Border Areas For Oil Shipments

Iraqi Forces To Secure Iranian Border Areas For Oil Shipments

Feb 05, 2018 at 16:21 | Zainab Calcuttawala

Iraqi forces will soon begin a plan to secure border areas near Iran in order to develop an oil export route to its neighboring country, according to a new report…

Indian Oil Tanker Missing Off West Africa Feared Hijacked

Indian Oil Tanker Missing Off West Africa Feared Hijacked

Feb 05, 2018 at 16:00 | Tsvetana Paraskova

Authorities are searching for a tanker carrying 13,500 tons of gasoline and 22 Indian nationals that went missing on Thursday off the coasts of West Africa in an area…

Tesla Threatens To Pull Out Of Hong Kong Over EV Incentives

Tesla Threatens To Pull Out Of Hong Kong Over EV Incentives

Feb 05, 2018 at 13:28 | Irina Slav

Tesla is considering curbing its presence in Hong Kong if the city’s authorities don’t start offering EV buyers more incentives, a source close to the company told South China…

ISIS Tries To Attack Libyan Oilfield

ISIS Tries To Attack Libyan Oilfield

Feb 05, 2018 at 11:46 | Irina Slav

Terrorists from the Islamic State have tried to attack the Dhara oilfield, sources from the Libyan National Army told local media. The LNA confronted the terrorists before the attack…

Chevron To Export First Condensate From Wheatstone LNG

Chevron To Export First Condensate From Wheatstone LNG

Feb 05, 2018 at 09:36 | Tsvetana Paraskova

Chevron has sold the first cargo of condensate—the ultra-light oil often produced alongside natural gas—from the Wheatstone LNG facility in Australia to Thailand’s PTT, Reuters reported on Monday, quoting…

Venezuela Skirts U.S. Sanctions With Chinese Oil-For-Cash Loans

Venezuela Skirts U.S. Sanctions With Chinese Oil-For-Cash Loans

Feb 02, 2018 at 16:37 | Zainab Calcuttawala

Oil-for-loan deals between Beijing and Caracas are preventing American sanctions from having their full effect on Venezuela’s economy, according to David Malpass, U.S. treasury under-secretary for international affairs. “Most of…

U.S. Investors Seek Approval For Large Payout In Petrobras Corruption Scandal

U.S. Investors Seek Approval For Large Payout In Petrobras Corruption Scandal

Feb 02, 2018 at 16:29 | Zainab Calcuttawala

Three billion dollars in settlements regarding an ongoing corruption scandal in Brazil need to be approved by the country’s parliament, including a $50 million settlement with the ordeal’s main…

Iraq Arrests ISIS Oil Chief Near Syrian Border

Iraq Arrests ISIS Oil Chief Near Syrian Border

Feb 02, 2018 at 16:21 | Tsvetana Paraskova

Iraqi security forces have arrested Islamic State’s top oil chief while he was trying to cross the border into Syria, Tehran-based Fars News Agency reported on Friday, quoting military…

Chevron Q4’s Earnings Underwhelm

Chevron Q4’s Earnings Underwhelm

Feb 02, 2018 at 14:22 | Tsvetana Paraskova

Chevron (NYSE:CVX) reported on Friday a $2-billion windfall from the U.S. tax reform in Q4, but excluding this one-time benefit, its earnings per share missed by a mile…

Oil From Sunk Tanker May Have Reached Japan

Oil From Sunk Tanker May Have Reached Japan

Feb 02, 2018 at 13:18 | Irina Slav

Blobs of oil-like liquid have been detected on several Japanese beaches, government officials report, cited by AFP, worried that it could be contamination from the Sanchi tanker that sank…

Washington Further Facilitates Oil Drilling on Federal Lands

Washington Further Facilitates Oil Drilling on Federal Lands

Feb 02, 2018 at 13:14 | Irina Slav

The Interior Department has furthered its efforts to make oil and gas drilling on federal land easier by implementing a policy aimed at streamlining the leasing process. The streamlining…

Exxon Dissappoints With Q4 Earnings 

Exxon Dissappoints With Q4 Earnings 

Feb 02, 2018 at 09:27 | Tsvetana Paraskova

ExxonMobil (NYSE:XOM) reported on Friday adjusted earnings per share (EPS) of $0.88, badly missing Wall Street estimates, and reported cash flow for the whole 2017 lower than that…

Mexico’s Obrador Reiterates Plan To Review Oil Contracts

Mexico’s Obrador Reiterates Plan To Review Oil Contracts

Feb 02, 2018 at 09:05 | Irina Slav

Just a day after the most successful offshore oil and gas tender in Mexico since the 2013 energy industry reform, the frontrunner for the July presidential elections reiterated his…

Lebanon Defends Right To Drill For Gas In Offshore Blocks

Lebanon Defends Right To Drill For Gas In Offshore Blocks

Feb 01, 2018 at 18:05 | Zainab Calcuttawala

The Lebanese oil ministry will move forward in its much-anticipated oil and gas tender, despite the inclusion of disputed territories in some of the allotted blocks, a new report…

Lack Of Crude Forces Nigeria’s Kaduna Refinery To Shutter

Lack Of Crude Forces Nigeria’s Kaduna Refinery To Shutter

Feb 01, 2018 at 18:00 | Zainab Calcuttawala

A lack of raw supplies has caused the Kaduna refinery in Nigeria to shut down, according to the Nigerian National Petroleum Corporation (NNPC). Reuters said the state-run oil firm…

Pipeline Bottleneck for Canada-U.S. Routes Costs $5 Per Barrel

Pipeline Bottleneck for Canada-U.S. Routes Costs $5 Per Barrel

Feb 01, 2018 at 15:32 | Zainab Calcuttawala

The widening gap between supply and demand for pipeline capacity linking Canada and the United States is causing higher fuel costs in North America, according to a new report…

Aramco, Alphabet Discuss Joint Tech Hub In Saudi Arabia

Aramco, Alphabet Discuss Joint Tech Hub In Saudi Arabia

Feb 01, 2018 at 12:50 | Tsvetana Paraskova

Saudi Arabia’s state oil giant Saudi Aramco and Google’s parent company Alphabet have entered into talks about potentially building a big technology hub in Saudi Arabia, The Wall Street Journal…

Shell Set To Topple Exxon As Big Oil’s Biggest Cash Generator

Shell Set To Topple Exxon As Big Oil’s Biggest Cash Generator

Feb 01, 2018 at 12:45 | Tsvetana Paraskova

Higher oil prices helped Royal Dutch Shell (NYSE: RDS.A) to more than double its 2017 profit from a year earlier and generate cash flow that could beat Exxon’s cash…

China’s CNOOC Plans Highest Capital Spending Since 2014

China’s CNOOC Plans Highest Capital Spending Since 2014

Feb 01, 2018 at 12:33 | Tsvetana Paraskova

China’s largest offshore oil producer, CNOOC, has set its 2018 capital expenditure plan at the highest level since 2014, signaling that it has started to recover from the oil…

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