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News

Perry, Al-Falih Accuse Iran Of Oil Market “Destabilization”

Perry, Al-Falih Accuse Iran Of Oil Market “Destabilization”

Aug 07, 2019 at 11:59 | Irina Slav

U.S. Energy Secretary Rick Perry and his Saudi counterpart Khalid al-Falih accused Iran of trying to destabilize global oil markets during a recent meeting. “Secretary Perry and Minister Al-Falih reaffirmed…

China Steps Up Coal To Gas Switching

China Steps Up Coal To Gas Switching

Aug 07, 2019 at 11:19 | Tsvetana Paraskova

China’s demand for natural gas and liquefied natural gas (LNG) imports will get another shot in the arm this year as one of the most polluted heavily industrialized provinces plans…

Oil Trader Vitol: Oil Demand Growth Could Slow To Just 600,000 Bpd

Oil Trader Vitol: Oil Demand Growth Could Slow To Just 600,000 Bpd

Aug 07, 2019 at 10:55 | Tsvetana Paraskova

The world’s biggest independent commodity trader, Vitol, has been revising down its global oil demand growth estimates and now sees growth at just 600,000 bpd-650,000 bpd this year, Vitol’s chief…

Cactus Oil Pipeline To Begin Partial Operation Next Week

Cactus Oil Pipeline To Begin Partial Operation Next Week

Aug 07, 2019 at 09:24 | Irina Slav

Plains All American’s Cactus II pipeline that will carry crude oil from the Permian to Corpus Christi in Texas will begin partial commercial operation next week, the company’s chief executive…

Crude Inventory Draw Unable To Boost Oil Prices

Crude Inventory Draw Unable To Boost Oil Prices

Aug 06, 2019 at 15:49 | Julianne Geiger

The American Petroleum Institute (API) reported a crude oil inventory draw of 3.4 million barrels for the week ending Aug 1, compared to analyst expectations of a 2.848-million barrel…

India Could Cut Mega Refinery Oil Capacity As Costs Surge To $60B

India Could Cut Mega Refinery Oil Capacity As Costs Surge To $60B

Aug 06, 2019 at 15:06 | Tsvetana Paraskova

India considers reducing the crude capacity of what would be its largest oil refinery as the country is trying to figure out how to cut swelling costs after strict environmental…

China May Consider Sending Navy To Protect Oil Tankers In Gulf

China May Consider Sending Navy To Protect Oil Tankers In Gulf

Aug 06, 2019 at 12:43 | Tsvetana Paraskova

The world’s top oil importer China could consider sending navy ships to the Persian Gulf to protect its commercial vessels in the area, should the situation become “very unsafe,” China’s…

Occidental Sells Up To $13B Bonds To Fund Anadarko Acquisition   

Occidental Sells Up To $13B Bonds To Fund Anadarko Acquisition   

Aug 06, 2019 at 12:04 | Tsvetana Paraskova

To help fund part of the acquisition of Anadarko, Occidental Petroleum has started selling bonds this week, with the sale expected in the range of US$11 billion to US$13 billion…

Controversial Nord Stream 2 To Complete New Section In October

Controversial Nord Stream 2 To Complete New Section In October

Aug 06, 2019 at 11:54 | Irina Slav

Russia-led Nord Stream 2, the controversial pipeline that has unnerved half of Europe and the United States, is moving ahead, with the Swedish section of the pipe scheduled to be…

Heavy Crude Shortage Is Taking Its Toll On U.S. Refiners

Heavy Crude Shortage Is Taking Its Toll On U.S. Refiners

Aug 06, 2019 at 10:19 | Irina Slav

A shortage of heavy crude has prevented U.S. refiners from taking advantage of stronger margins ahead of the new sulfur emission rules of the International Maritime Organizations, which will enter…


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