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News

Foreign Workers Evacuated At Libya’s Sharara Oil Field

Foreign Workers Evacuated At Libya’s Sharara Oil Field

Sep 04, 2017 at 16:49 | Zainab Calcuttawala

Reuters reports that foreign workers at Libya’s largest oil field have been evacuated after news emerged on Monday of unspecified activities near the site. An engineer at the field…

Insolvencies Jump In Canada’s Oil Country

Insolvencies Jump In Canada’s Oil Country

Sep 04, 2017 at 15:15 | Irina Slav

Canada’s oil-producing regions saw the highest increase in insolvencies over the 12 months to June 2017, according to the latest insolvency report by the federal government. Total insolvencies in…

Natural Gas Output In Kurdistan Set To Jump

Natural Gas Output In Kurdistan Set To Jump

Sep 04, 2017 at 14:43 | Zainab Calcuttawala

Natural gas output in Iraqi Kurdistan is set to jump as the regional government settles a court case with a consortium of companies active in the area, according to

How To Incentivize Purchasing Of Eco-Homes

How To Incentivize Purchasing Of Eco-Homes

Sep 04, 2017 at 14:20 | City A.M

Two seemingly perennial challenges concerning the UK are; the urgent need (and legal obligation) to reduce the country’s carbon emissions by 80 per cent by 2050; and the supply and…

Indian ONGC To Bid For Israel’s Offshore Oil & Gas Blocks

Indian ONGC To Bid For Israel’s Offshore Oil & Gas Blocks

Sep 04, 2017 at 11:57 | Tsvetana Paraskova

In what could be a first major official energy deal between the two countries, India’s state-owed ONGC plans to bid for exploration rights of oil and gas blocks offshore Israel,…

Brent Prices Fall After North Korean Nuclear Test

Brent Prices Fall After North Korean Nuclear Test

Sep 04, 2017 at 09:55 | Tsvetana Paraskova

Brent prices were down on Monday morning after investors shied away from crude oil markets and instead turned to safer-haven gold futures after North Korea conducted its sixth and most…

Rosneft, Chinese CEFC Ink Strategic Deal

Rosneft, Chinese CEFC Ink Strategic Deal

Sep 04, 2017 at 09:39 | Irina Slav

Russia’s largest state oil major, Rosneft, along with CEFC China Energy Company, sealed a strategic cooperation deal for the joint development of oil and gas projects in Siberia at this…

U.S. Taps 4.5 Million Barrels Of Oil From Strategic Reserve After Harvey

U.S. Taps 4.5 Million Barrels Of Oil From Strategic Reserve After Harvey

Sep 01, 2017 at 16:05 | Zainab Calcuttawala

Approximately 4.5 million barrels of oil have been released from the Strategic Petroleum Reserve (SPR) in response to Hurricane Harvey’s effect on national gasoline availability.  Three million barrels of the…

Cash-Strapped Venezuela Offers $5 Million To Harvey Victims

Cash-Strapped Venezuela Offers $5 Million To Harvey Victims

Sep 01, 2017 at 16:00 | Zainab Calcuttawala

Venezuela is offering five million dollars’ worth of Hurricane Harvey relief to the United States just days after the White House approved a new round of sanctions against Caracas, according…

China Readies Yuan-Priced Crude Oil Benchmark Backed By Gold

China Readies Yuan-Priced Crude Oil Benchmark Backed By Gold

Sep 01, 2017 at 15:57 | Tsvetana Paraskova

The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil…

Chinese Teapots Team Up In Refining Conglomerate

Chinese Teapots Team Up In Refining Conglomerate

Sep 01, 2017 at 15:30 | Tsvetana Paraskova

The Shandong province in China has approved a request by the largest independent oil refiners—typically known as teapots and most located in the province—to set up a refining conglomerate to…

Latin America Looks Toward Oil Cargo Sitting Offshore Venezuela

Latin America Looks Toward Oil Cargo Sitting Offshore Venezuela

Sep 01, 2017 at 12:44 | Tsvetana Paraskova

Latin American countries that import U.S. fuel cargoes, mostly from the Gulf Coast, are scrambling to find alternatives to U.S. shipments after Hurricane Harvey battered Texas and Louisiana, leading to…

Rover Gas Pipeline Gets Phase 1A Approval

Rover Gas Pipeline Gets Phase 1A Approval

Sep 01, 2017 at 10:52 | Irina Slav

The Federal Energy Regulatory Commission has given the go-ahead to the Rover natural gas pipeline project’s Phase 1A, which will transport gas from Cadiz to the Midwest Hub,…

U.S. Coal Output Up 9.6% Year On Year

U.S. Coal Output Up 9.6% Year On Year

Sep 01, 2017 at 09:22 | Irina Slav

U.S. coal output last week stood at 16.7 million short tons, according to estimates from the Energy Information Administration. This compares to 17.025 million tons in the prior…

Trump To Block Russian Ownership Of Venezuelan Subsidiary In US

Trump To Block Russian Ownership Of Venezuelan Subsidiary In US

Aug 31, 2017 at 16:29 | Zainab Calcuttawala

Trump’s White House will block attempts by the Kremlin to acquire large portions of Venezuela’s Citgo, a U.S. subsidiary of the state-owned PDVSA. Rosneft agreed to acquire half of…

OPEC Compliance Hits 89 Percent In August

OPEC Compliance Hits 89 Percent In August

Aug 31, 2017 at 16:18 | Zainab Calcuttawala

Output from the Organization of Petroleum Exporting Countries (OPEC) fell by 170,000 barrels per day this month, down from a year-long high in July, according to feedback from a new 

Libya Thwarts Suspected Oil Smugglers For Second Time This Week

Libya Thwarts Suspected Oil Smugglers For Second Time This Week

Aug 31, 2017 at 16:13 | Zainab Calcuttawala

A medium-sized oil tanker that was smuggling crude oil in the Mediterranean Sea was apprehended by the Libyan coastguard on Thursday, according to a new report by The New…

Russia To Fund Arctic Oil, Economy Development With $2.75B

Russia To Fund Arctic Oil, Economy Development With $2.75B

Aug 31, 2017 at 16:06 | Tsvetana Paraskova

Russia will be financing the development of the Artic continental shelf and the economy of the local areas with more than US$2.75 billion (160 billion rubles) by 2025, Russia’s Prime…

Activists Protest Kinder Morgan’s Westridge Crude Oil Terminal

Activists Protest Kinder Morgan’s Westridge Crude Oil Terminal

Aug 31, 2017 at 15:47 | MINING.com

On a sparsely populated island off the coast of the northwestern United States, more than a hundred environmental activists gathered last weekend to practice seaborne drills to disrupt construction on…

Aramco Is Using Advanced Tech To Search For New Oil Reserves

Aramco Is Using Advanced Tech To Search For New Oil Reserves

Aug 31, 2017 at 14:45 | Tsvetana Paraskova

Saudi Aramco is deploying advanced seismic testing technology to explore again areas of the desert known as the Empty Quarter, a move that could help it to raise its…

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