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News

TransCanada Scraps Oil Pipeline Project To East Coast

TransCanada Scraps Oil Pipeline Project To East Coast

Oct 05, 2017 at 11:02 | Tsvetana Paraskova

TransCanada said on Thursday that it would not be proceeding with two pipeline projects designed to carry oil from Alberta and Saskatchewan to Canada’s East Coast, a month after…

Chevron Prepares To Shut Down Gulf Platforms Ahead Of Storm

Chevron Prepares To Shut Down Gulf Platforms Ahead Of Storm

Oct 05, 2017 at 09:23 | Irina Slav

Chevron is preparing to shut down two platforms in the Gulf of Mexico ahead of a Tropical Depression that could develop into a major storm, the company said, as

New Form Of Alternate Energy To Power International Horse Show

New Form Of Alternate Energy To Power International Horse Show

Oct 04, 2017 at 16:45 | Julianne Geiger

A Finland utility is expected to use horse manure to power the entire Helsinki International Horse Show later this month, according to a press release from Finnish utility, Fortum.…

Europe’s Largest Refinery To Shutter For Two Months

Europe’s Largest Refinery To Shutter For Two Months

Oct 04, 2017 at 16:38 | Damir Kaletovic

Royal Dutch Shell announced today plans of major maintenance involving 12 units at the Pernis oil refinery in Rotterdam, Netherlands, to be conducted during this month and November, according to its…

Shallow-Water Oil Auctions Fall Flat for Mexico

Shallow-Water Oil Auctions Fall Flat for Mexico

Oct 04, 2017 at 16:23 | Damir Kaletovic

More bad news for Mexico’s state-run Pemex as the live auction for its shallow-water Ayin-Batsil oil play in the Gulf of Mexico failed to attract any offers for partnership.…

Venezuela Has Plan B To Sell Its Oil If U.S. Imposes Sanctions

Venezuela Has Plan B To Sell Its Oil If U.S. Imposes Sanctions

Oct 04, 2017 at 16:17 | Tsvetana Paraskova

Venezuela has plans A, B, and C, and other alternatives to sell its oil if the United States were to impose oil sanctions, Venezuela’s President Nicolas Maduro said at…

IEA Head Sees Oil Prices Subdued On Non-OPEC Supply Growth

IEA Head Sees Oil Prices Subdued On Non-OPEC Supply Growth

Oct 04, 2017 at 15:29 | Tsvetana Paraskova

Non-OPEC producers not part of the production cut deal continue to raise crude oil supply, which would continue to cap oil prices in the near future, the executive director of…

Nat Gas Exports Could Add $73B To U.S. Economy

Nat Gas Exports Could Add $73B To U.S. Economy

Oct 04, 2017 at 11:43 | Irina Slav

Higher natural gas exports from the U.S. in the years to 2040 could add between US$50 billion and US$73 billion to the economy and create 220,000-452,000 new jobs, ICF said…

Venezuela To Invite More Countries To Join Output Cuts

Venezuela To Invite More Countries To Join Output Cuts

Oct 04, 2017 at 11:01 | Tsvetana Paraskova

Up to 12 oil producing countries from South America and Africa have been invited to join the OPEC/non-OPEC production cut deal, Venezuela’s Oil Minister Eulogio del Pino said on…

Libya’s Sharara Oil Field Resumes Production

Libya’s Sharara Oil Field Resumes Production

Oct 04, 2017 at 09:38 | Irina Slav

After a three-day suspension of production due to a blockade by an armed group, Libya’s giant Sharara oil field re-opened on Wednesday, Bloomberg reports, quoting an emailed statement by…

Saudi Arabia Plans Russian Oil, Gas Investments

Saudi Arabia Plans Russian Oil, Gas Investments

Oct 04, 2017 at 09:31 | Irina Slav

Russia and Saudi Arabia have been called unlikely allies, thrown together by the lower-for-longer oil price scenario that has been unfolding over the last three years, and now these unlikely…

Oil Prices Under Pressure After API Reports Large Gasoline Build

Oil Prices Under Pressure After API Reports Large Gasoline Build

Oct 03, 2017 at 16:00 | Julianne Geiger

The American Petroleum Institute (API) reported a draw of 4.079 million barrels in United States crude oil inventories, compared to more modest analyst expectations that inventories would draw only…

India Set To Become World’s Fastest Growing Energy Market

India Set To Become World’s Fastest Growing Energy Market

Oct 03, 2017 at 15:42 | Zainab Calcuttawala

Moody’s predicts India will surpass China as the fastest growing energy market in the world by the end of next year, according to a new report by the credit…

Brazil Has No Plans To Privatize Petrobras

Brazil Has No Plans To Privatize Petrobras

Oct 03, 2017 at 14:05 | Zainab Calcuttawala

A senior official in Brazil said there are no current plans to privatize the national oil company to deal with its massive debt, according to a new report by

Iraq Aims To Restart Oil Fields Attacked By ISIS

Iraq Aims To Restart Oil Fields Attacked By ISIS

Oct 03, 2017 at 11:48 | Tsvetana Paraskova

Iraq hopes to restore to production oil fields in the Nineveh area around Mosul over the “next few months”, after rehabilitating the sites that Islamic State militants had set…

Despite Musk’s Claims, Tesla Misses Deliveries Target

Despite Musk’s Claims, Tesla Misses Deliveries Target

Oct 03, 2017 at 10:26 | Tsvetana Paraskova

Tesla (NASDAQ:TSLA) reported a 4.5-percent increase in total vehicle deliveries in Q3, but deliveries of Model 3 were lower than expected as production of the highly anticipated mass-market model…

Nigeria Recovers $3 Billion In Large-Scale Energy Sector Reform

Nigeria Recovers $3 Billion In Large-Scale Energy Sector Reform

Oct 03, 2017 at 09:19 | Irina Slav

Nigeria’s Extractive Industries Transparency Initiative has recovered some US$3 billion in payment dues from oil and gas operators in the country, the agency’s executive secretary told Nigerian media. The…

Leading Climate Change Fund Claims Tesla Is Overvalued

Leading Climate Change Fund Claims Tesla Is Overvalued

Oct 02, 2017 at 14:26 | Zainab Calcuttawala

A leading climate fund is dropping its support of Tesla after declaring it an overvalued stock, according to a new report. “We don’t see upside,” Thomas Sorensen from the 

Russia’s Oil Output Remains Flat At 10.91 Million Bpd

Russia’s Oil Output Remains Flat At 10.91 Million Bpd

Oct 02, 2017 at 14:20 | Tsvetana Paraskova

Russia’s crude oil production was flat at 10.91 million bpd in September compared to August—staying at the lowest levels for 2017, as maintenance at some fields affected production, according…

Shell Restarts Louisiana Refinery After Last Week’s Fire

Shell Restarts Louisiana Refinery After Last Week’s Fire

Oct 02, 2017 at 14:14 | Tsvetana Paraskova

Royal Dutch Shell restarted over the weekend all but one units of its 227,586-bpd Convent refinery in Louisiana, sources told Reuters on Monday, after the facility was shut down…

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