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News

Trump’s Plan Makes 65 Billion BOE Available For Drilling

Trump’s Plan Makes 65 Billion BOE Available For Drilling

Jan 10, 2018 at 17:35 | Zainab Calcuttawala

Rystad Energy expects the Trump administration’s new oil and gas leasing plan to make 65 billion barrels of oil equivalent newly available to fossil fuel exploration and production companies, according…

PetroChina’s Biggest Refinery Doubles Russian Pipeline Oil Intake

PetroChina’s Biggest Refinery Doubles Russian Pipeline Oil Intake

Jan 10, 2018 at 17:31 | Tsvetana Paraskova

Since the new Russia-China oil supply agreement took effect at the start of the year, PetroChina’s largest refinery has almost doubled the amount of Russian pipeline crude oil that it…

NYC Sues Five Oil Majors For Contributing To Climate Change

NYC Sues Five Oil Majors For Contributing To Climate Change

Jan 10, 2018 at 16:42 | Zainab Calcuttawala

Five major oil exploration, production, and refining companies face lawsuits in the city of New York over allegations that they contributed to global warming, according to a new report by…

Saudi Aramco Looks To Secure $6B In Cheap Loans Before IPO

Saudi Aramco Looks To Secure $6B In Cheap Loans Before IPO

Jan 10, 2018 at 12:30 | Tsvetana Paraskova

In a sign that it is trying to ensure that its highly anticipated IPO will take place this year, Saudi Aramco is seeking to obtain up to US$6 billion in…

Shell Sells Stake In Iraqi Oil Field To Japan’s Itochu

Shell Sells Stake In Iraqi Oil Field To Japan’s Itochu

Jan 10, 2018 at 12:18 | Tsvetana Paraskova

Royal Dutch Shell has sold its 20-percent stake in Iraq’s West Qurna-1 oil field to Japan’s Itochu Corporation, and Iraq has approved the transaction, a senior Iraqi oil official told…

Iranian Oil Tanker Explodes, Could Continue To Burn For A Month

Iranian Oil Tanker Explodes, Could Continue To Burn For A Month

Jan 10, 2018 at 10:54 | Irina Slav

An Iranian tanker carrying condensate that collided with a Chinese freight ship on Saturday is still burning and could burn for a month, the South Korean Ministry of Oceans and…

Florida Gets An Oil Drilling Pass

Florida Gets An Oil Drilling Pass

Jan 10, 2018 at 09:18 | Irina Slav

Florida will be exempt from the Trump administration’s new offshore drilling plans—a decision made after the state’s governor pleaded with Washington that it be excluded from future drilling leases because…

Oil Prices Rise After API Reports Staggering Crude Oil Draw

Oil Prices Rise After API Reports Staggering Crude Oil Draw

Jan 09, 2018 at 15:43 | Julianne Geiger

The American Petroleum Institute (API) reported a staggeringly large draw of 11.19 million barrels of United States crude oil inventories for the week ending January 5, marking six large draws…

Tesla Begins Mass Production Of Solar Shingles

Tesla Begins Mass Production Of Solar Shingles

Jan 09, 2018 at 14:48 | Zainab Calcuttawala

Tesla began manufacturing its solar powered shingles for mass market release, according to CEO Elon Musk’s Tuesday email reported by Bloomberg. Musk introduced the concept to industry leaders and…

EIA Boosts World Oil Demand Forecast For 2018 By 100,000 Bpd

EIA Boosts World Oil Demand Forecast For 2018 By 100,000 Bpd

Jan 09, 2018 at 14:46 | Zainab Calcuttawala

World oil demand in 2018 is set to grow by an additional 100,000 barrels per day, according to the latest revision to the figure by the U.S. Energy…

Businessman Seeks Sale Of $5.2B Stake In Kazakhstan Oil Field

Businessman Seeks Sale Of $5.2B Stake In Kazakhstan Oil Field

Jan 09, 2018 at 13:02 | Tsvetana Paraskova

Moldovan businessman Anatolie Stati will ask courts to sell US$5.2 billion worth of a stake in Kazakhstan’s biggest oil field, Kashagan, held by a Kazakh sovereign wealth fund if Kazakhstan…

Exxon Accuses California Of Climate Change Hypocrisy

Exxon Accuses California Of Climate Change Hypocrisy

Jan 09, 2018 at 12:35 | Irina Slav

Exxon has called out a deliberate discrepancy between statements made by several California municipalities and cities in lawsuits against it and more than a dozen other energy companies, and information…

Norway’s Recovering Oil Industry Resumes Hiring

Norway’s Recovering Oil Industry Resumes Hiring

Jan 09, 2018 at 12:30 | Tsvetana Paraskova

Oil companies in Norway, as well as their suppliers, will hire more employees in the coming years as the country’s oil and gas sector recovers from the downturn in the…

$2.3 Million Seized Following Singapore Oil Heist

$2.3 Million Seized Following Singapore Oil Heist

Jan 09, 2018 at 12:06 | Irina Slav

The Singapore police have arrested seventeen people and have seized millions of dollars in cash after a raid prompted by a complaint about a theft from Shell’s biggest refinery in…

China Nears 2016 Carbon Emissions Target

China Nears 2016 Carbon Emissions Target

Jan 09, 2018 at 09:30 | Irina Slav

China’s climate change watchdog said 27 of the country’s 31 regions have met the carbon emission reduction targets Beijing set in 2016. The targets include an 18-percent reduction in…

Oil Companies Respond Slow To New U.S. Lease Plan

Oil Companies Respond Slow To New U.S. Lease Plan

Jan 08, 2018 at 16:52 | Zainab Calcuttawala

Analysts are saying that the oil and gas industry’s response to the Trump administration’s announcement last week—that almost all of the U.S. continental shelf may soon be open for drilling…

Maduro To Issue First 100 Million Petros Despite Skeptics

Maduro To Issue First 100 Million Petros Despite Skeptics

Jan 08, 2018 at 16:41 | Zainab Calcuttawala

Venezuelan President Nicolas Maduro said that he ordered the first 100 million units of its new oil-backed Petro—Venezuela’s cryptocurrency creation. Each Petro unit will be backed by one barrel…

Iraq Bans Kurdish Firm From Operating Kirkuk Oil Fields

Iraq Bans Kurdish Firm From Operating Kirkuk Oil Fields

Jan 08, 2018 at 15:06 | Tsvetana Paraskova

After Iraq’s federal forces recaptured the oil fields in Kirkuk in October, the Iraqi Parliament voted on Monday to ban Kurdish engineering company Kar Group from operating Kirkuk’s oil…

Goldman Sachs And Citi To Lead Saudi Aramco IPO

Goldman Sachs And Citi To Lead Saudi Aramco IPO

Jan 08, 2018 at 12:12 | City A.M

U.S. investment banking giants Goldman Sachs and Citi are lined up to lead the initial public offering (IPO) of part of Saudi Aramco, according to reports.   The Saudi state-owned oil…

Iraq To Begin Oil Deliveries To Iran

Iraq To Begin Oil Deliveries To Iran

Jan 08, 2018 at 12:02 | RFE/RL staff

Iraq's oil minister says the country will start exporting oil to Iran from its northern Kirkuk oil fields by the end of January. Oil Minister Jabar al-Luaibi said on January…

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