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News

BP Finally Unloads Crude Cargo For Chinese Teapot After Months In Port

BP Finally Unloads Crude Cargo For Chinese Teapot After Months In Port

Aug 02, 2018 at 12:40 | Irina Slav

A 2-million-barrel crude oil cargo for an independent Chinese refiner in Shandong has finally been fully unloaded after two months spent at the port of Qingdao, Reuters reports, adding…

Iran Prepares Military Exercise In Gulf: U.S. Officials

Iran Prepares Military Exercise In Gulf: U.S. Officials

Aug 02, 2018 at 10:15 | Irina Slav

There is increased Iranian military activity in the Strait of Hormuz, the U.S. Central Command confirmed to Reuters after several U.S. government officials said they believed Iran was preparing…

Tesla Stock Shoots Up Despite Another Q2 Loss

Tesla Stock Shoots Up Despite Another Q2 Loss

Aug 02, 2018 at 09:29 | Irina Slav

Tesla reported a net loss of US$717.54 million for the second quarter, an increase on both a quarterly and annual basis, but the company’s stock climbed up on the…

Indonesia Edges Out Another Oil Major In Push To Nationalize Natural Resources

Indonesia Edges Out Another Oil Major In Push To Nationalize Natural Resources

Aug 01, 2018 at 17:20 | Julianne Geiger

The Indonesian government has moved to reclaim its prolific Rokan oil block from Chevron in 2021 when its contract is set to expire, it will then turn it over to…

India Allows Firms To Drill For Shale Oil, Gas Under Existing Contracts

India Allows Firms To Drill For Shale Oil, Gas Under Existing Contracts

Aug 01, 2018 at 16:57 | Tsvetana Paraskova

India’s cabinet approved on Wednesday a policy to allow companies to explore and exploit unconventional oil and gas resources such as shale oil and gas and coalbed methane under…

Renewables, Nuclear Squeeze Out Fossil Fuel Power In France

Renewables, Nuclear Squeeze Out Fossil Fuel Power In France

Aug 01, 2018 at 16:19 | Tsvetana Paraskova

Electricity generation from renewable and nuclear power sources in France jumped in June and squeezed out fossil fuels coal, oil, and gas, grid operator RTE said in its Monthly…

Norway Puts First Deposit In $1-Trillion Oil Fund Since Early 2016

Norway Puts First Deposit In $1-Trillion Oil Fund Since Early 2016

Aug 01, 2018 at 15:42 | Tsvetana Paraskova

In a sign that the Norwegian economy and its oil industry are doing much better at the current higher oil prices, Norway’s finance ministry made in June its first…

CNPC Boasts Substantial Increase In Overseas Oil, Gas Production

CNPC Boasts Substantial Increase In Overseas Oil, Gas Production

Aug 01, 2018 at 13:34 | Irina Slav

china National Petroleum Corp (CPNC) booked a 7.3-percent increase in its equity oil and gas production overseas during the first half of the year, Reuters reports, adding that in…

Tesla Plans $5-Billion Auto-Plant In China

Tesla Plans $5-Billion Auto-Plant In China

Aug 01, 2018 at 12:55 | Safehaven.com

Tesla plans to build a US$5-billion car-manufacturing plant near Shanghai in China, and is weighing possibly raising part of the funds for the factory from local partners, Bloomberg reported…

Iraqi Firms Will Develop Nassiriya Oil Field, Mansuriyah Gas Field

Iraqi Firms Will Develop Nassiriya Oil Field, Mansuriyah Gas Field

Aug 01, 2018 at 10:14 | Tsvetana Paraskova

Iraq’s oil ministry has ordered state-held firms to take over the development of the Mansuriyah gas field and the Nassiriya oil field, after foreign firms failed to resume work…

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