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News

Iraq Ready To Sign Deal With BP For Kirkuk Fields

Iraq Ready To Sign Deal With BP For Kirkuk Fields

Jan 18, 2018 at 10:59 | Irina Slav

Iraq will today sign an agreement with BP for the development of oil fields around Kirkuk, according to an unnamed Iraqi official who spoke to Reuters. The government first approached…

Kinder Morgan Delays Trans Mountain Launch Again

Kinder Morgan Delays Trans Mountain Launch Again

Jan 18, 2018 at 09:09 | Irina Slav

Kinder Morgan said it would have to delay the start of the expansion of its Trans Mountain pipeline by another three months, to December 2020, its chief executive Steve Kean…

Shell Inks Another Solar Deal

Shell Inks Another Solar Deal

Jan 18, 2018 at 08:51 | Irina Slav

Just a couple of days after it acquired a hefty stake in a U.S. solar company, Shell has made another solar move, closing a power supply deal with…

API Reports Seventh Large Crude Draw In Seven Weeks

API Reports Seventh Large Crude Draw In Seven Weeks

Jan 17, 2018 at 15:52 | Julianne Geiger

The American Petroleum Institute (API) reported a large draw of 5.121 million barrels of United States crude oil inventories for the week ending January 12, marking seven large draws in…

Maduro’s Advisors Recommend Selling Petro At Steep 60% Discount

Maduro’s Advisors Recommend Selling Petro At Steep 60% Discount

Jan 17, 2018 at 15:21 | Zainab Calcuttawala

Official advisors to Caracas recommend that the Petro—a new oil-backed cryptocurrency set up by the Venezuelan government to circumvent U.S. sanctions—be sold at a discount of up to 60 percent,…

EIA: Shale Oil Output To Rise By 1.8 Million Bpd Through Q1 2019

EIA: Shale Oil Output To Rise By 1.8 Million Bpd Through Q1 2019

Jan 17, 2018 at 12:41 | Zainab Calcuttawala

American crude oil output is set to rise by 1.8 million barrels per day from the nation’s largest shale producing areas over the next year, according to new forecasts…

IEA: Don’t Expect Much Oil From Arctic National Wildlife Refuge Before 2030

IEA: Don’t Expect Much Oil From Arctic National Wildlife Refuge Before 2030

Jan 17, 2018 at 12:26 | Tsvetana Paraskova

Despite the fact that part of the Arctic National Wildlife Refuge (ANWR) has been declared open to drilling, low oil prices and abundance of onshore shale deposits makes the Arctic…

Minister Says Norway Must Prepare For Arctic Oil Race With Russia

Minister Says Norway Must Prepare For Arctic Oil Race With Russia

Jan 17, 2018 at 11:51 | Tsvetana Paraskova

Norway should map the northernmost areas of its part of the Barents Sea close to the Russian maritime border in order to protect its economic interests in the Arctic, Norway’s…

Eight Years Late—UK Hinkley Point C To Be In Service By 2025

Eight Years Late—UK Hinkley Point C To Be In Service By 2025

Jan 17, 2018 at 11:39 | Tsvetana Paraskova

EDF Energy—the developer of the first new nuclear power plant in the UK in a generation, Hinkley Point C, is confident that it can put the first unit into…

Sunk Iranian Oil Tanker Leave Behind Two Slicks

Sunk Iranian Oil Tanker Leave Behind Two Slicks

Jan 17, 2018 at 10:40 | Irina Slav

Sanchi, the Iranian tanker carrying condensate to South Korea that crashed into a Chinese freight ship on January 6 and sank earlier this week, has produced two oil slicks, Chinese…

Saudi Arabia Shuns UBS, BofA As Aramco IPO Coordinators

Saudi Arabia Shuns UBS, BofA As Aramco IPO Coordinators

Jan 17, 2018 at 09:14 | Irina Slav

Saudi Arabia has excluded Swiss UBS, Bank of America Merrill Lynch, and Barclays from the select group of investment banks invited to pitch for the role of coordinators in the…

WCS-WTI Spread Narrows As Exports-By-Rail Pick Up

WCS-WTI Spread Narrows As Exports-By-Rail Pick Up

Jan 16, 2018 at 17:18 | Zainab Calcuttawala

Volume constraints on the Keystone pipeline system levied by U.S. regulators have widened the spread between Western Canadian Select crude prices and benchmark American crude prices, but the…

Norway Grants Record 75 New Offshore Exploration Leases

Norway Grants Record 75 New Offshore Exploration Leases

Jan 16, 2018 at 15:33 | Zainab Calcuttawala

Norway awarded a record seventy-five new offshore oil exploration leases to companies in its latest bidding round, according to a new report by Reuters. “The number of licenses is…

China’s Growing Appetite For Renewables

China’s Growing Appetite For Renewables

Jan 16, 2018 at 15:28 | Zainab Calcuttawala

The Chinese appetite for clean energy has boosted international investments in solar energy, according to a new report by Bloomberg. Renewables and clean energy innovators won $333.5 billion in…

Chevron To Resume Drilling In Kurdistan

Chevron To Resume Drilling In Kurdistan

Jan 16, 2018 at 13:40 | Tsvetana Paraskova

Chevron expects to restart drilling in the semi-autonomous Kurdistan Region in Iraq and is taking steps to remobilize staff and equipment, The Wall Street Journal quoted a Chevron spokeswoman…

India Boosts Oil, Gas Resource Estimate Ahead Of Bidding Round

India Boosts Oil, Gas Resource Estimate Ahead Of Bidding Round

Jan 16, 2018 at 11:09 | Tsvetana Paraskova

India has increased the estimates of its oil and gas resources by 50 percent from the volumes assessed more than 20 years ago, the country’s oil regulator said, just days…

India’s Reliance Boosts Export Refinery Capacity By 30%

India’s Reliance Boosts Export Refinery Capacity By 30%

Jan 16, 2018 at 11:00 | Tsvetana Paraskova

India’s Reliance Industries has increased the capacity of its export-oriented refinery at the world’s biggest refinery complex by 30 percent to 704,000 bpd, an Indian government report has said.…

Nigeria Among Worst Performers In Electricity Supply

Nigeria Among Worst Performers In Electricity Supply

Jan 16, 2018 at 09:12 | Irina Slav

Nigeria is the second-worst country in terms of electricity supply out of 137 countries ranked by the Spectator Index. It is second only to war-torn Yemen, and its national…

ELN Attacks Another Colombian Pipeline As Ceasefire Ceases

ELN Attacks Another Colombian Pipeline As Ceasefire Ceases

Jan 15, 2018 at 16:45 | Zainab Calcuttawala

Colombia’s Transandino pipeline stopped operating on Sunday after a bomb planted by ELN rebels caused a crude spill into a nearby river, according to a joint announcement by Ecopetrol and…

Shell Buys 43.8% Stake In Silicon Ranch Solar

Shell Buys 43.8% Stake In Silicon Ranch Solar

Jan 15, 2018 at 16:24 | Zainab Calcuttawala

Royal Dutch Shell approved a deal on Monday to buy a 43.8 percent stake in Silicon Ranch Corp, a solar energy company currently owned by the Partners Group’s energy portfolio.…

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