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News

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…

China’s EV Market Nearing 2 Percent Penetration

China’s EV Market Nearing 2 Percent Penetration

Oct 02, 2017 at 12:29 | MINING.com

The number of passenger vehicles sold in China surged 68 percent in August compared to the same month last year, but the really compelling statistic is the number of electric…

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…

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