• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days If hydrogen is the answer, you're asking the wrong question
  • 8 hours How Far Have We Really Gotten With Alternative Energy
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
Will Waning Gasoline Demand Drag Oil Prices Down?

Will Waning Gasoline Demand Drag Oil Prices Down?

Oil markets were looking forward…

U.S. Oil, Gas Drilling Activity Slows

U.S. Oil, Gas Drilling Activity Slows

The total number of active…

News

Statoil Bets Big On Brazil, Aims To Triple Production By 2030

Statoil Bets Big On Brazil, Aims To Triple Production By 2030

Jun 12, 2017 at 17:58 | Zainab Calcuttawala

Statoil will more than triple its production in Brazil by becoming the sole operator of the Carcara discovery, according to the Norwegian company’s local subsidiary. “We expect (Statoil's) equity production…

Sinopec Considers Oil Output Drop To Fight Domestic Glut

Sinopec Considers Oil Output Drop To Fight Domestic Glut

Jun 12, 2017 at 17:51 | Zainab Calcuttawala

State-refiner Sinopec could cut oil output by a third to combat a domestic oil supply glut fueled by competition from independent refiners and slow demand. "The company (Sinopec) is facing…

One Bondholder Put A Price On Goldman’s Venezuelan ‘Hunger Bonds’

One Bondholder Put A Price On Goldman’s Venezuelan ‘Hunger Bonds’

Jun 12, 2017 at 17:40 | Tsvetana Paraskova

A Pennsylvania-based asset manager has said that the US$2.8 billion bonds of Venezuela’s oil firm PDVSA, which Goldman Sachs bought last month for US$0.31 on the dollar, were worth US$0.33…

Iran Aims To Develop Its Largest Oil Field

Iran Aims To Develop Its Largest Oil Field

Jun 12, 2017 at 13:27 | Tsvetana Paraskova

One of Iran’s top energy priorities this year would be developing onshore and offshore oil fields that it shares with neighboring countries, the official Islamic Republic News Agency (IRNA) quoted…

Analysts: Investment In Renewables An Opportunity For Oil Majors

Analysts: Investment In Renewables An Opportunity For Oil Majors

Jun 12, 2017 at 11:45 | Tsvetana Paraskova

As wind and solar power are expected to upend the global energy market over the next few decades, clean energy is not only a threat to legacy oil and gas…

Iraq To Raise Oil Export Terminal Capacity To 1 Million Bpd

Iraq To Raise Oil Export Terminal Capacity To 1 Million Bpd

Jun 12, 2017 at 11:40 | Irina Slav

Iraq’s Basra Oil Company is working on expanding the daily capacity of the Amaya oil export terminal in Basra to one million barrels, a deputy oil minister told media over…

UAE Ports Ban Raises Shipping Costs For Qatari Oil Cargoes

UAE Ports Ban Raises Shipping Costs For Qatari Oil Cargoes

Jun 12, 2017 at 09:40 | Irina Slav

Crude oil and fuel shipments from Qatar are set to become more expensive after the United Arab Emirates imposed a port-wide ban on vessels carrying these commodities from Qatar. This…

Mexico Begins Mingling With Wall Street For 2018 Oil Price Hedge

Mexico Begins Mingling With Wall Street For 2018 Oil Price Hedge

Jun 09, 2017 at 17:01 | Zainab Calcuttawala

Mexico City is making moves to secure its annual oil price hedging program, according to sources familiar with the process who spoke to Bloomberg. A finance team has begun to…

Eni Begins Oil Production In Ghana Three Months Ahead Of Schedule

Eni Begins Oil Production In Ghana Three Months Ahead Of Schedule

Jun 09, 2017 at 16:43 | Zainab Calcuttawala

Ghana’s Sankofa field will restart production three months earlier than anticipated, according to a new announcement from the project’s partners on Friday. Italian Eni holds a 44.44 percent stake…

Azerbaijan’s Energy Minister Dies

Azerbaijan’s Energy Minister Dies

Jun 09, 2017 at 13:54 | Tsvetana Paraskova

Azerbaijan’s Energy Minister Natig Aliyev died on Friday in Turkey, and his body will be flown to Azerbaijan’s capital Baku on Saturday, Upstream Online reports, quoting the Azeri Energy…

Belgian Court Unfreezes Russian Assets In Yukos Case

Belgian Court Unfreezes Russian Assets In Yukos Case

Jun 09, 2017 at 13:44 | Tsvetana Paraskova

A court of first instance in Brussels has ruled that Russian assets in Belgium—frozen at the request of former Yukos shareholders as part of their legal battle against Russia—be unfrozen,…

Finance Minister: Russia Adapted To Lower-for-Longer Oil Prices

Finance Minister: Russia Adapted To Lower-for-Longer Oil Prices

Jun 09, 2017 at 11:18 | Tsvetana Paraskova

This year Russia’s budget is reaching its highest level of resistance to oil price swings in the past nine years, Russian Finance Minister Anton Siluanov told Parliament on Friday.…

Statoil Takes Over Great Australian Bight Oil Exploration From BP

Statoil Takes Over Great Australian Bight Oil Exploration From BP

Jun 09, 2017 at 09:27 | Irina Slav

Norway’s Statoil has announced an announced with BP to take over exploration for oil and gas in four blocks in the Great Australian Bight. The agreement, approved by the Australian…

China’s State Oil Giants Import More Oil In May

China’s State Oil Giants Import More Oil In May

Jun 09, 2017 at 09:20 | Irina Slav

China’s crude oil imports went up by 15.4 percent on an annual basis last month on the back of more purchases coming from state-owned companies, Platts reports. The daily…

Qatari LNG Cargoes Change Course Amid Rising Tensions

Qatari LNG Cargoes Change Course Amid Rising Tensions

Jun 09, 2017 at 09:15 | Irina Slav

Two Qatari LNG tankers carrying a combined 524,000 cu m of the fuel suddenly changed course in the Gulf of Aden on their way to the Suez Canal yesterday, energy…

Congo Republic Plans 350,000 BPD Output In 2018

Congo Republic Plans 350,000 BPD Output In 2018

Jun 08, 2017 at 14:24 | Zainab Calcuttawala

By 2018, oil projects in the Congo Republic will boost output by 25 percent to 350,000 barrels per day according to a new report by Reuters. By next year,…

Nigeria Says Refinery Upgrades Should Cost $1.2 Billion

Nigeria Says Refinery Upgrades Should Cost $1.2 Billion

Jun 08, 2017 at 14:09 | Zainab Calcuttawala

A $1.2 billion spending plan will allow Nigeria the refining upgrades it needs to terminate its dependence on refined oil imports in two years’ time, according to Oil Minister Ibe…

The Niger Delta Avengers Declare War Once More

The Niger Delta Avengers Declare War Once More

Jun 08, 2017 at 13:52 | Zainab Calcuttawala

The militants who wagered a war against Nigerian oil output in 2016 are banding together once again to threaten the African nation’s energy sector. Corporal Oleum Belum, spokesman for…

UAE Reinstates Total Ban On Qatar-Linked Oil Tanker Movement

UAE Reinstates Total Ban On Qatar-Linked Oil Tanker Movement

Jun 08, 2017 at 13:01 | Tsvetana Paraskova

Just a day after Abu Dhabi was said to have removed the restrictions on Qatar operated, owned, or flagged tankers to call at UAE ports, the port authority backtracked and…

Oil-Rich Kurdistan Sets Date For Independence Referendum

Oil-Rich Kurdistan Sets Date For Independence Referendum

Jun 08, 2017 at 11:53 | Irina Slav

The oil-rich autonomous region of Kurdistan has scheduled its long-awaited independence referendum for September 25, President Masoud Barzani said in a tweet. The referendum may cost Iraq a large…

Oilprice - The No. 1 Source for Oil & Energy News