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News

Kuwait Energy In Talks To Merge With London-Listed Firm

Kuwait Energy In Talks To Merge With London-Listed Firm

Jan 08, 2018 at 11:07 | Tsvetana Paraskova

After failing to complete an initial public offering in London last year, independent oil and gas company Kuwait Energy may find a way to get access to the London…

Vietnam Oil Executives Could Face Death Penalty In Corruption Case

Vietnam Oil Executives Could Face Death Penalty In Corruption Case

Jan 08, 2018 at 10:53 | Irina Slav

Vietnam’s government has put on trial 22 executives from state-owned energy company PetroVietnam for losses incurred by the company. Some of the offenses the executives are charged with are punishable…

Libyan Oil Company Calls For Reopening Of Ras Lanuf Refinery

Libyan Oil Company Calls For Reopening Of Ras Lanuf Refinery

Jan 08, 2018 at 09:49 | Irina Slav

Libya’s National Oil Corporation has called for the reopening of the Ras Lanuf crude oil refinery after it won two arbitration cases against the owner and operator of the…

Libya Triples Oil Revenues In 2017 As Production Recovers

Libya Triples Oil Revenues In 2017 As Production Recovers

Jan 05, 2018 at 15:05 | Tsvetana Paraskova

Libya’s oil revenues nearly tripled in 2017 to US$14 billion as the country managed last year to gradually recover its oil production, reaching 1 million bpd for the first…

Exxon Treats Guyana To 6th Offshore Discovery Since 2015

Exxon Treats Guyana To 6th Offshore Discovery Since 2015

Jan 05, 2018 at 15:03 | Zainab Calcuttawala

Guyana’s nascent oil and gas industry just gained a new discovery: ExxonMobil’s drilling team found 230 feet of high-quality, oil-bearing reservoir just outside the Liza phase one project, according to…

Canadian Crude Oil Exports Decline On Keystone Pipeline Leaks

Canadian Crude Oil Exports Decline On Keystone Pipeline Leaks

Jan 05, 2018 at 15:02 | Zainab Calcuttawala

Canadian crude oil exports fell 2.4 percent in November as the United States dropped imports from its northern neighbor to 3.26 million barrels per day, according to a new

Pacific Coast, Florida Oppose Offshore Oil Drilling Plan

Pacific Coast, Florida Oppose Offshore Oil Drilling Plan

Jan 05, 2018 at 12:35 | Tsvetana Paraskova

The governors of California, Oregon, and Washington, as well as Florida’s Republican governor, are opposing the U.S. Department of the Interior’s plan to open more than 90 percent of…

Oil Price Rise Not Enough: Angola Ditches U.S. Dollar Peg

Oil Price Rise Not Enough: Angola Ditches U.S. Dollar Peg

Jan 05, 2018 at 12:10 | Tsvetana Paraskova

To offset the decline in its foreign currency reserves, OPEC member Angola—which relies on oil for 90 percent of government revenues—is ditching its currency peg to the U.S. dollar and…

China To “Deal Seriously” With Violators Of Oil Sanctions On North Korea

China To “Deal Seriously” With Violators Of Oil Sanctions On North Korea

Jan 05, 2018 at 11:25 | Tsvetana Paraskova

China’s government promised on Friday to “deal seriously” with people or companies that may have violated United Nations sanctions by illicitly delivering oil to North Korea. On Wednesday, South…

Toshiba Dumps Westinghouse For $4.6B

Toshiba Dumps Westinghouse For $4.6B

Jan 05, 2018 at 10:47 | Irina Slav

Toshiba has sold its U.S. nuclear power business, Westinghouse, for US$4.6 billion to a group of investment companies led by Brookfield Asset Management. The deal puts an end to…

Aramco Takes Big Step Toward IPO

Aramco Takes Big Step Toward IPO

Jan 05, 2018 at 09:00 | Irina Slav

Saudi Arabia’s state energy giant Aramco has been made a joint stock company in preparation for its initial public offering, planned to take place in the second half of…

Oil And Gas Run Low As East Coast Sees Record Snowfall

Oil And Gas Run Low As East Coast Sees Record Snowfall

Jan 04, 2018 at 14:55 | Zainab Calcuttawala

The past week of continuous record low temperatures and snowfall has oil-dependent power plants in the northeast scrambling to secure supplies of some of the dirtiest burning oil available in…

New Mexico Is Now Third-Largest U.S. Oil Producer

New Mexico Is Now Third-Largest U.S. Oil Producer

Jan 04, 2018 at 14:09 | Tsvetana Paraskova

Thanks to the booming Permian Basin, New Mexico has become the third-largest U.S. oil-producing state in September and October, outstripping Oklahoma, California, and Alaska, data by the EIA shows.…

U.S. To Open Drilling In Previously Protected Zones

U.S. To Open Drilling In Previously Protected Zones

Jan 04, 2018 at 14:04 | Zainab Calcuttawala

The U.S. Department of interior is set to replace the Obama administration’s five-year oil and gas leasing plan on key bodies of water with federal government jurisdiction, the Oil and…

New Report Spots Inconsistencies In Obama Oil & Gas Testing Approvals

New Report Spots Inconsistencies In Obama Oil & Gas Testing Approvals

Jan 04, 2018 at 14:02 | Zainab Calcuttawala

A new investigation by the Government Accountability Office (GAO) says the Obama administration took an inconsistent amount of time to approve applications for seismic testing for offshore oil and gas…

U.S. Firms Interested In Boosting Oil, Gas Presence In Iraq

U.S. Firms Interested In Boosting Oil, Gas Presence In Iraq

Jan 04, 2018 at 13:59 | Tsvetana Paraskova

U.S. companies are eager to strengthen bilateral cooperation with Iraq in all industry sectors, especially in oil and gas, the Iraqi Ministry of Oil said on Thursday after U.S.…

Norway Wins Lawsuit Over Arctic Oil Drilling

Norway Wins Lawsuit Over Arctic Oil Drilling

Jan 04, 2018 at 11:59 | Tsvetana Paraskova

A Norwegian court ruled on Thursday that Norway’s government had not violated the constitution in awarding drilling licenses in the Arctic, and dismissed a lawsuit brought by environmental groups…

Tesla Share Prices Takes A Hit After Another Model 3 Delay

Tesla Share Prices Takes A Hit After Another Model 3 Delay

Jan 04, 2018 at 09:50 | Irina Slav

Tesla will start producing 2,500 Model 3s weekly by the end of the first quarter of the year, the company said in yet another update that disappointed thousands of…

Oil Rises As API Reports Major Draw In Crude Inventories

Oil Rises As API Reports Major Draw In Crude Inventories

Jan 03, 2018 at 15:47 | Julianne Geiger

The American Petroleum Institute (API) reported a draw of 4.992 million barrels of United States crude oil inventories for the week ending December 29, marking five large draws in as…

Gas Pipeline Fire Causes Blackouts In Nigeria

Gas Pipeline Fire Causes Blackouts In Nigeria

Jan 03, 2018 at 14:04 | Zainab Calcuttawala

A gas pipeline fire has caused parts of Nigeria’s electric grid to shut down, according to an announcement by the ministry of power on Wednesday. The incident at the…

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