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How Long Will the Gold Rally Last?

How Long Will the Gold Rally Last?

Precious metal prices surge, particularly…

News

Lukoil Looks To Sell Italian Refinery As Crimea Sanctions Intensify

Lukoil Looks To Sell Italian Refinery As Crimea Sanctions Intensify

Sep 20, 2017 at 15:13 | Zainab Calcuttawala

Lukoil will begin to shift its focus towards domestic production by selling off its Italian refinery complex, two oil industry sources told Reuters on Wednesday. The move is part…

Kurdistan’s Biggest Source Of Oil Funds

Kurdistan’s Biggest Source Of Oil Funds

Sep 20, 2017 at 14:02 | Tsvetana Paraskova

Russia, the only global power that has not called for canceling of next week’s Kurdish referendum on independence, is the largest contributor of funds for oil and gas deals in…

Oil Prices On Track For Largest Q3 Gain Since 2004

Oil Prices On Track For Largest Q3 Gain Since 2004

Sep 20, 2017 at 13:53 | Tsvetana Paraskova

Oil prices rose by 1 percent on Wednesday morning and were set for the biggest third-quarter gain since 2004, as investors weighed the renewed talk of possible deeper OPEC cuts,…

Reliance Plans To Boost Capacity Of World’s Biggest Oil Refinery

Reliance Plans To Boost Capacity Of World’s Biggest Oil Refinery

Sep 20, 2017 at 12:58 | Tsvetana Paraskova

India’s Reliance Industries—which operates the world’s biggest refining complex—is planning a major capacity expansion of the site to increase crude oil processing capacity to around 2 million bpd, from the…

Saudi Aramco May Unveil Financials In Early 2018

Saudi Aramco May Unveil Financials In Early 2018

Sep 20, 2017 at 11:27 | Tsvetana Paraskova

If Saudi authorities decide this year which foreign stock market will be the venue of what would be the biggest IPO in history, and if the government finalizes energy subsidy…

Has The EIA Been Overestimating Oil Production?

Has The EIA Been Overestimating Oil Production?

Sep 20, 2017 at 11:24 | Irina Slav

The Energy Information Administration is overestimating U.S. crude oil production, Continental Resource’s chief executive Harold Hamm said today in an interview with Fox Business. Hamm was notably the only…

Taiwan Cuts Off Fossil Fuels To North Korea

Taiwan Cuts Off Fossil Fuels To North Korea

Sep 20, 2017 at 09:55 | Zainab Calcuttawala

Taiwan will no longer offer its fossil fuels to North Korea, the island announced on Tuesday in a bid to emerge as a responsible member of the international community. Taiwan…

Clash In Oil-Rich South Sudan Region Kills At Least 25

Clash In Oil-Rich South Sudan Region Kills At Least 25

Sep 20, 2017 at 09:02 | Zainab Calcuttawala

South Sudanese authorities reported the deaths of at least 25 people on Tuesday following a clash between government forces and rebel groups in the oil-producing regions in the north…

Lebanon Passes Oil Taxation Law Ahead Of First Licensing Auction

Lebanon Passes Oil Taxation Law Ahead Of First Licensing Auction

Sep 20, 2017 at 08:57 | Tsvetana Paraskova

The Lebanese Parliament voted into law on Tuesday legislation that regulates the tax regime from oil and gas operations in the country, in a milestone law for bidders in…

India’s Oil Majors To Lift Borrowing To Cover Dividends, Capex

India’s Oil Majors To Lift Borrowing To Cover Dividends, Capex

Sep 19, 2017 at 13:15 | Tsvetana Paraskova

India’s three major state-held oil refining and marketing firms—Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL)—will increase borrowings to keep their large dividend payments and…

Gulf Keystone Plans Further Oil Output Increase In Kurdistan

Gulf Keystone Plans Further Oil Output Increase In Kurdistan

Sep 19, 2017 at 10:42 | Irina Slav

Independent E&P Gulf Keystone, whose operations are concentrated in Kurdistan, said it has enough cash flow to invest in further crude oil output production in the region. In the

Venezuela’s Crisis Deepens As Hurricane Approaches

Venezuela’s Crisis Deepens As Hurricane Approaches

Sep 19, 2017 at 10:25 | Irina Slav

Oil traders have started to divert fuel shipments from their original destination in Venezuela as Hurricane Maria approaches the Caribbean, Reuters vessel tracking data has shown. Yet the hurricane,…

Tension Rises In Oil-Rich Kurdistan

Tension Rises In Oil-Rich Kurdistan

Sep 19, 2017 at 08:52 | Irina Slav

Ethnic tensions are heating up in Kirkuk, the center of northern Iraq’s oil industry, ahead of an independence referendum that the Kurdistan Regional Government has slated for September 25.…

Petrobras To Issue $2B New Bonds, Exchange Shorter-Term Debt

Petrobras To Issue $2B New Bonds, Exchange Shorter-Term Debt

Sep 18, 2017 at 17:08 | Tsvetana Paraskova

Petrobras plans to offer U.S.-dollar denominated global notes in one or more series for a total principal amount of up to US$2 billion, and to purchase or exchange five series…

Kuwait Faces New Oil Leak Near Ras al-Zour

Kuwait Faces New Oil Leak Near Ras al-Zour

Sep 18, 2017 at 17:03 | Zainab Calcuttawala

Kuwait’s struggle with oil spills continues in September as the state news agency reports the clean-up of another leak off the southern coast on Monday, as the nation tries…

Sonatrach Aims To Reform Algiers Energy Laws

Sonatrach Aims To Reform Algiers Energy Laws

Sep 18, 2017 at 16:56 | Zainab Calcuttawala

Algerian oil and gas laws need an upgrade if it is to attract foreign investors, according to the North African country’s government petroleum company, Sonatrach. Sonatrach CEO Abdelmoumen Ould…

Vitol Ups Cash-for-Oil Deals With Kazakhstan To $5B

Vitol Ups Cash-for-Oil Deals With Kazakhstan To $5B

Sep 18, 2017 at 14:23 | Tsvetana Paraskova

Commodity trader Vitol has raised its export prepayment loans to Kazakhstan’s state oil firms to US$5 billion, boosting further its primary position in lifting Kazakh oil at a time when…

New Saudi Railway Expected To Reduce Dependence On Crude Oil

New Saudi Railway Expected To Reduce Dependence On Crude Oil

Sep 18, 2017 at 14:03 | Tsvetana Paraskova

Saudi Arabia plans to soon issue contract tenders for a 1,000-mile railway between the Red Sea and the Persian Gulf, and to extend links to serve oil giant Aramco, Saudi…

Nigerian Workers Stop Oil Product Loading As Union Goes On Strike

Nigerian Workers Stop Oil Product Loading As Union Goes On Strike

Sep 18, 2017 at 11:58 | Tsvetana Paraskova

Oil workers in Nigeria stopped on Monday the loading of oil products, natural gas, and aviation fuel as the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) joined an…

Iran Eyes US$60B In Renewables Revenue By 2023

Iran Eyes US$60B In Renewables Revenue By 2023

Sep 18, 2017 at 09:17 | Irina Slav

Less than two years after it returned to the international oil markets, Iran is quick to embrace the alternative of oil: renewable energy sources. The country’s Deputy Energy Minister, Houshang…

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