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Oil Prices Gain 2% on Tightening Supply

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Russia Offers Saudis A Part In Arctic LNG Project

Russia Offers Saudis A Part In Arctic LNG Project

Jul 06, 2017 at 14:02 | Tsvetana Paraskova

Russia has extended an invitation to Saudi Arabia’s oil giant Saudi Aramco to participate in the Arctic LNG-2 project, Russia’s Energy Minister Alexander Novak told Reuters in an interview on…

EPA Proposes Cut In Biofuel Requirements

EPA Proposes Cut In Biofuel Requirements

Jul 06, 2017 at 11:18 | Irina Slav

The Environmental Protection Agency has proposed a reduction in the amount of biofuels required to be added to gasoline, Reuters reports, in what could be a first step towards…

Norway’s Largest Wind Farm To Power Google Data Centers

Norway’s Largest Wind Farm To Power Google Data Centers

Jul 06, 2017 at 10:16 | Zainab Calcuttawala

A new wind farm in Norway will begin providing electricity to tech giant Google by early September, according to an announcement from holding company Alphabet on Wednesday. The 50-turbine Tellenes…

API Reports A Larger Than Expected Crude Draw

API Reports A Larger Than Expected Crude Draw

Jul 05, 2017 at 16:10 | Julianne Geiger

The American Petroleum Institute (API) handed oil markets a sliver of hope this afternoon by reporting a sizeable draw of 5.764 million barrels in United States crude oil inventories, compared…

Syrian Army Set To Recapture Oil Field Near Palmyra From ISIS

Syrian Army Set To Recapture Oil Field Near Palmyra From ISIS

Jul 05, 2017 at 15:44 | Tsvetana Paraskova

Syria’s army is advancing against ISIS militants in the central Homs province, and has encircled terrorists in the al-Hael oil field near the ancient city of Palmyra, Syrian state news…

Volvo To Pull Plug On Gas-Only Cars In 2019

Volvo To Pull Plug On Gas-Only Cars In 2019

Jul 05, 2017 at 14:00 | Zainab Calcuttawala

Swedish car manufacturer Volvo announced on Wednesday that its 2019 models would either be powered by fully electric or hybrid engines, steering the company to a total abandonment of the…

Kangaroos Befuddle Volvo’s Self-Driving Cars Down Under

Kangaroos Befuddle Volvo’s Self-Driving Cars Down Under

Jul 05, 2017 at 12:28 | Irina Slav

It looks like every carmaker is splashing heavily on self-driving cars, but there’s one challenge they may have not considered until now: kangaroos. The technical manager of Volvo Australia recently…

India’s Top Refiner Seeks To Buy U.S. Sour Crude For The First Time

India’s Top Refiner Seeks To Buy U.S. Sour Crude For The First Time

Jul 05, 2017 at 11:59 | Tsvetana Paraskova

In a bid to diversify supplies, India’s biggest oil refiner has issued its first tender to buy sour crude from the U.S. and Canada, Reuters reported on Tuesday, just a…

Russia To Supply Gas To China As Part Of $400B Energy Deal

Russia To Supply Gas To China As Part Of $400B Energy Deal

Jul 05, 2017 at 11:19 | RFE/RL staff

(Click to enlarge)Russia will start supplying natural gas to China through a new pipeline by the end of 2019 as part of the…

Vietnam Makes Bold Move For Oil In Disputed South China Sea

Vietnam Makes Bold Move For Oil In Disputed South China Sea

Jul 05, 2017 at 09:29 | Irina Slav

Vietnam has allowed a drillship in a contested part of the South China Sea, according to an industry consultant who spoke to the BBC. The drillship, Deepsea Metro I, on…

Pemex To Pick A Partner For Its $2B Coking Plant

Pemex To Pick A Partner For Its $2B Coking Plant

Jul 03, 2017 at 17:17 | Zainab Calcuttawala

Pemex will pick a partner to complete a $2 billion coking plant at the Tula refinery by the end of October, according to sources from the government-run company that spoke…

France’s Total Returns To Iran With First Major Western Gas Deal

France’s Total Returns To Iran With First Major Western Gas Deal

Jul 03, 2017 at 15:09 | Tsvetana Paraskova

France’s energy major Total SA said on Monday that it had signed a contract to develop phase 11 of the South Pars gas field in Iran—the world’s biggest gas field—marking…

Canadian Court Orders Seizure Of Kurdish Oil Tanker

Canadian Court Orders Seizure Of Kurdish Oil Tanker

Jul 03, 2017 at 11:47 | Tsvetana Paraskova

A Halifax court issued last week a warrant for the seizure of an oil tanker that holds crude oil from Kurdistan, which was last spotted off the Canadian coast, Kurdish…

Statoil Strikes Oil At New Barents Sea Field

Statoil Strikes Oil At New Barents Sea Field

Jul 03, 2017 at 09:38 | Irina Slav

Statoil has struck crude oil in the Kolje formation in the Barents Sea, near the Johan Castberg field, the company announced. Recoverable reserves at the location are estimated at…

Indian Consortium Offers To Invest $11B In Iranian Oil Field

Indian Consortium Offers To Invest $11B In Iranian Oil Field

Jul 03, 2017 at 09:00 | Irina Slav

An Indian consortium led by ONGC Videsh has offered Tehran US$11 billion in investments into the Farzad-B natural gas field on the condition that the Iranian authorities can guarantee it…

Goldman Sachs Sells Off $300 Million In PDVSA Bonds At A Slim Profit

Goldman Sachs Sells Off $300 Million In PDVSA Bonds At A Slim Profit

Jun 30, 2017 at 17:58 | Zainab Calcuttawala

Goldman Sachs has sold of a portion of the Venezuelan bonds it purchased in May, causing market commotion at the time of the initial $2.8 billion transaction last month.

Japan And South Korea Secure Atlantic Crude As Winter Approaches

Japan And South Korea Secure Atlantic Crude As Winter Approaches

Jun 30, 2017 at 17:54 | Zainab Calcuttawala

Japanese and South Korean buyers will snap up Atlantic crude oil cargoes in the coming months, ahead of an expected demand boom in the winter, according to a new report…

OPEC Output Reaches 2017 High As Libya Reaches 1 Million Bpd

OPEC Output Reaches 2017 High As Libya Reaches 1 Million Bpd

Jun 30, 2017 at 17:44 | Zainab Calcuttawala

OPEC oil output reached a 2017 high in June as Libya and Nigeria continue a production recovery despite the bloc’s efforts to ease a global supply glut, the results…

Saudi Arabia Reports First GDP Contraction Since 2009

Saudi Arabia Reports First GDP Contraction Since 2009

Jun 30, 2017 at 17:42 | Zainab Calcuttawala

Saudi Arabia’s gross domestic product fell in the first quarter of 2017 year-over-year, marking the first time the top oil exporter’s economy contracted after the 2014 oil price crash.…

The Mysterious Tanker Full Of Kurdish Oil Reappears Off Canada

The Mysterious Tanker Full Of Kurdish Oil Reappears Off Canada

Jun 30, 2017 at 12:40 | Tsvetana Paraskova

The oil tanker loaded with crude from Kurdistan and thought to be headed to the U.S. before it turned off its tracker after exiting the Strait of Gibraltar a week…

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