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News

Libya’s Sharara Oil Field Closed Again, 230,000 Bpd Output Offline

Libya’s Sharara Oil Field Closed Again, 230,000 Bpd Output Offline

Oct 02, 2017 at 11:31 | Tsvetana Paraskova

Less than a month after Libya’s giant oil field Sharara returned to pump oil following a two-week disruption, Sharara closed again on Sunday evening, and more than 230,000 bpd of…

ADNOC Plans Further Oil Output Reduction

ADNOC Plans Further Oil Output Reduction

Oct 02, 2017 at 09:57 | Irina Slav

UAE’s Abu Dhabi National Oil Company, or ADNOC, will cut its crude oil output by 139,000 bpd in November as part of the UAE’s commitment to the OPEC/non-OPEC production cut…

Qatar’s Energy Sector Shrinks By 2.7% In Q2

Qatar’s Energy Sector Shrinks By 2.7% In Q2

Oct 02, 2017 at 09:20 | Irina Slav

Qatar reported a 2.7-percent annual contraction in its mining and quarrying sector, which includes oil and gas production, for the second quarter of the year. The contraction dragged down…

Barents Sea Oil Drilling Campaign Continues To Disappoint

Barents Sea Oil Drilling Campaign Continues To Disappoint

Sep 29, 2017 at 15:28 | Tsvetana Paraskova

Lundin Norway AS, operator of a production license in the Barents Sea, has found no oil or gas in a wildcat well it has drilled, the Norwegian Petroleum Directorate (NPD)…

Canada’s Economic Growth Stalls In July As Oil Activity Drops

Canada’s Economic Growth Stalls In July As Oil Activity Drops

Sep 29, 2017 at 15:22 | Tsvetana Paraskova

Following an eight-month streak of increases, Canada’s real gross domestic product (GDP) was essentially flat in July, driven down by a decline in oil and gas extraction, Statistics Canada

Tehran Blocks Oil Trade With Kurdistan

Tehran Blocks Oil Trade With Kurdistan

Sep 29, 2017 at 15:18 | Zainab Calcuttawala

Tehran is taking a stance against the Kurdistan Regional Government by temporarily halting oil product shipments into the semi-autonomous region, according to reports emerging from the area. The Iran…

Canada’s Watchdog: Kinder Morgan Complied With Stop Order

Canada’s Watchdog: Kinder Morgan Complied With Stop Order

Sep 29, 2017 at 15:11 | Tsvetana Paraskova

Canada’s National Energy Board (NEB) has said that Kinder Morgan had complied with an order from last week to stop work that it was not yet authorized to perform…

Twin Nuclear Plants In Georgia Get $3.7 Billion Lifeline

Twin Nuclear Plants In Georgia Get $3.7 Billion Lifeline

Sep 29, 2017 at 15:05 | Zainab Calcuttawala

Nuclear power plants received a much needed boost from the Trump administration this week when the White House approved $3.7 billion in loan guarantees for two struggling power plants…

Brazil Puts Eletrobras Up For Sale For 30 Cents: But Is It Really A Bargain?

Brazil Puts Eletrobras Up For Sale For 30 Cents: But Is It Really A Bargain?

Sep 29, 2017 at 14:54 | Irina Slav

The largest power utility in Brazil, Eletrobras, will auction its electricity distribution subsidiaries for the symbolic sum of US$0.31 (1 real), with the winner to be selected based on…

Shale Drillers To Lose At Sub-$50 Oil

Shale Drillers To Lose At Sub-$50 Oil

Sep 29, 2017 at 12:32 | Irina Slav

Shale oil and gas producers need WTI prices at least US$50 oil to be able to see significant returns, analysts from Moody’s said in a research note today. For…

Turkey To Meet With Iran, Iraq Over Kurdish Independence Vote

Turkey To Meet With Iran, Iraq Over Kurdish Independence Vote

Sep 29, 2017 at 12:28 | RFE/RL staff

Turkish Prime Minister Binali Yildirim said on September 28 that he wants to hold a summit with Iranian and Iraqi leaders to coordinate their response to the Kurdish vote for…

Tesla On Track To Build World’s Biggest Battery

Tesla On Track To Build World’s Biggest Battery

Sep 29, 2017 at 10:05 | Irina Slav

The contract has been signed, and construction is underway at the site of what will be one of the world’s biggest battery installations, courtesy of Tesla—and the 100-day clock to…

Aramco IPO Could End OPEC Status Quo

Aramco IPO Could End OPEC Status Quo

Sep 28, 2017 at 17:12 | Damir Kaletovic

Sources have told Reuters that the Saudi drive to get OPEC on board with production cuts last year—threatening to quit the bloc if members disagreed—was in part meant to…

Canada’s Prolific Montney Shale Drives Pipeline Expansion

Canada’s Prolific Montney Shale Drives Pipeline Expansion

Sep 28, 2017 at 17:08 | Damir Kaletovic

With oil and gas output still on the upward swing in Canada’s most prolific shale play, despite depressed oil prices, one of the biggest benefactors is a Calgary-based pipeline company…

Oil Firms Do Not See A Lasting Impact From Harvey

Oil Firms Do Not See A Lasting Impact From Harvey

Sep 28, 2017 at 17:02 | Tsvetana Paraskova

Most executives at oil and gas firms don’t expect Hurricane Harvey to continue to affect their business six months from now, the Q3 Dallas Fed Energy survey showed. When…

Philippines Aims To Drill For Oil With Chinese Firm Near Disputed Waters

Philippines Aims To Drill For Oil With Chinese Firm Near Disputed Waters

Sep 28, 2017 at 16:57 | Tsvetana Paraskova

The Philippines plans to pursue oil and gas exploration near contested waters in the South China Sea in a stalled project which has Chinese state firm CNOOC as a…

Saudis Raise $12.5B To Plug Budget Deficit From Low Oil Prices

Saudis Raise $12.5B To Plug Budget Deficit From Low Oil Prices

Sep 28, 2017 at 14:38 | Tsvetana Paraskova

Saudi Arabia said on Thursday that it had issued US$12.5 billion in three tranches of notes, the second issue under its Global Medium-Term Note program, as the desert Kingdom…

Poland Aims To Fill Export Gap Using U.S. Coal

Poland Aims To Fill Export Gap Using U.S. Coal

Sep 28, 2017 at 14:28 | MINING.com

Weglokoks said on Wednesday that it plans to resell the imported U.S. coal abroad, mostly to the Czech Republic, Slovakia, Hungary, Germany and Austria, but would…

Statoil Sends Crude To Asia With World’s Last Ultra-Large Carrier

Statoil Sends Crude To Asia With World’s Last Ultra-Large Carrier

Sep 28, 2017 at 12:11 | Irina Slav

Norway’s Statoil has chartered the last ultra-large crude carrier in the world, TI Europe, to Malaysia, where the oil will be transferred onto smaller vessels to send to the…

Turkey Inches Closer To Disrupting Kurdish Oil Exports

Turkey Inches Closer To Disrupting Kurdish Oil Exports

Sep 28, 2017 at 10:51 | Tsvetana Paraskova

Turkey supports Iraq’s decision that the oil trade should be done only by the central government, reaffirming it will deal only with Baghdad, in a move that could disrupt or…

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