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Lower Natural Gas Prices Squeeze Big Oil's Profits in Q1 2024

Lower Natural Gas Prices Squeeze Big Oil's Profits in Q1 2024

U.S. supermajors ExxonMobil and Chevron,…

Why Chinese Exports to Russia Are Declining

Why Chinese Exports to Russia Are Declining

China, facing US threats of…

News

India’s State Refiners To Import Less Iranian Oil In 2017/18

India’s State Refiners To Import Less Iranian Oil In 2017/18

Jul 19, 2017 at 17:06 | Tsvetana Paraskova

India’s government-run refiners plan to import less Iranian crude oil in the 2017/2018 fiscal year ending March 2018, than the crude from Iran they bought in the previous fiscal…

Saudi-Led Bloc Eases Up On Qatari Demands

Saudi-Led Bloc Eases Up On Qatari Demands

Jul 19, 2017 at 17:03 | Tsvetana Paraskova

Diplomats from the four Arab countries that are leading the boycott against Qatar have signaled that the Saudi-led bloc is no longer demanding that Qatar comply with a list of…

BP, Total, YPF To Invest $1.15B In Argentina’s Vaca Muerta Shale

BP, Total, YPF To Invest $1.15B In Argentina’s Vaca Muerta Shale

Jul 19, 2017 at 15:29 | Tsvetana Paraskova

A BP unit and subsidiaries of France’s Total and Germany’s Wintershall have signed an investment agreement with Argentina’s state-run oil company YPF to jointly invest US$1.15 billion in the Vaca…

Saudi Men On Trial For Allegedly Plotting Oil Pipeline Attack

Saudi Men On Trial For Allegedly Plotting Oil Pipeline Attack

Jul 19, 2017 at 12:10 | Tsvetana Paraskova

Two Saudi teachers are standing trial in Saudi Arabia on charges that they have allegedly spied for arch-rival Iran in gathering information about a 5-million-bpd oil pipeline for the purposes…

Oman Oil To Take $1B In Loans

Oman Oil To Take $1B In Loans

Jul 19, 2017 at 10:57 | Tsvetana Paraskova

Oman’s state energy firm Oman Oil expects to close a pre-export financing (PXF) loan worth some US$1 billion within the next two months, Reuters reported on Wednesday, citing a…

BP May Spin Off Midstream U.S. Assets

BP May Spin Off Midstream U.S. Assets

Jul 19, 2017 at 09:37 | Irina Slav

BP is considering a restructuring of its oil, gas, and petroleum product business in the U.S. that would involve the spin-off of some of the company’s pipelines there, media

India Rolls Out Solar Trains to Cut Diesel Costs

India Rolls Out Solar Trains to Cut Diesel Costs

Jul 19, 2017 at 09:23 | Zainab Calcuttawala

Considering how hard India is fighting the international community on increasing national coal use, the latest development in the nation’s train system signals the Asian giant’s commitment to green energy.…

API Reports Surprise Build In Crude Inventories

API Reports Surprise Build In Crude Inventories

Jul 18, 2017 at 16:03 | Julianne Geiger

The American Petroleum Institute (API) reported a build of 1.628 million barrels in United States crude oil inventories, compared to analyst’s expectations that this week would see a draw of…

Saudis Consider Further Cuts To Oil Exports

Saudis Consider Further Cuts To Oil Exports

Jul 18, 2017 at 14:03 | Zainab Calcuttawala

The latest word from the OPEC rumor mill is that pack leader Saudi Arabia is planning more oil export cuts – causing oil prices to jump on Tuesday. Oil…

Hackers ‘Likely Compromised’ UK Energy Targets

Hackers ‘Likely Compromised’ UK Energy Targets

Jul 18, 2017 at 13:59 | Tsvetana Paraskova

The UK’s National Cyber Security Centre (NCSC) has warned that hackers have been targeting the country’s energy sector, and some targets are likely to have been compromised, according to a…

Head Of Libya’s NOC To Attend OPEC/Non-OPEC Meeting

Head Of Libya’s NOC To Attend OPEC/Non-OPEC Meeting

Jul 18, 2017 at 12:17 | Tsvetana Paraskova

OPEC has invited Libya to share its production plans with the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) next week, and Libya will attend the gathering, with National Oil Corporation (NOC)…

Japanese Court Clears Idemitsu’s Merger With Rival Refinery

Japanese Court Clears Idemitsu’s Merger With Rival Refinery

Jul 18, 2017 at 11:35 | Irina Slav

A Tokyo court has rejected a petition brought against Japan’s biggest oil refiner, Idemitsu Cosan, by its founding family. The family argued that a recent proposal for a share…

Mexico Set To Announce Terms Of Next Deepwater Oil Tender

Mexico Set To Announce Terms Of Next Deepwater Oil Tender

Jul 18, 2017 at 10:15 | Irina Slav

Mexico’s National Hydrocarbons Commission will later this week announce the terms for its second deepwater oil and gas tender, and the blocks that will be offered for development. According to…

Exxon Pulls Out Of Indonesian Offshore Gas Field Project

Exxon Pulls Out Of Indonesian Offshore Gas Field Project

Jul 18, 2017 at 09:12 | Irina Slav

ExxonMobil has decided that it “no longer wishes to continue further discussions or activity” regarding the East Natuna natural gas block offshore Indonesia, after having assessed the future development prospects…

Egypt To Double Gas Output By 2020

Egypt To Double Gas Output By 2020

Jul 17, 2017 at 15:18 | Zainab Calcuttawala

Output from three of Egypt’s newest natural gas fields will boost the nation’s output by 50 percent by 2018 and by 100 percent in 2020, according to new forecasts…

India Plans Next Merger On Road To Creating Oil Giant

India Plans Next Merger On Road To Creating Oil Giant

Jul 17, 2017 at 15:11 | Tsvetana Paraskova

India’s top refiner Indian Oil Corporation (IOC) may buy out the government’s 66-percent stake in exploration company Oil India, in a second deal involving oil firms that is part of…

Iran Signs Deal With Japan’s Toyo To Boost Output At Offshore Field

Iran Signs Deal With Japan’s Toyo To Boost Output At Offshore Field

Jul 17, 2017 at 14:18 | Tsvetana Paraskova

The National Iranian Oil Company (NIOC) signed on Monday a memorandum of understanding with a consortium that includes Japan’s engineering group Toyo to revamp the facilities and upgrade gas…

Mexico Delays Oil Auction, Allows Investors To Assess Recent Finds

Mexico Delays Oil Auction, Allows Investors To Assess Recent Finds

Jul 17, 2017 at 14:09 | Tsvetana Paraskova

Mexico’s next offshore oil auction will be held in January next year instead of in December 2017 as initially planned, in order to give bidders more time to assess all…

Saudi Arabia Launches Tender For Wind Plant

Saudi Arabia Launches Tender For Wind Plant

Jul 17, 2017 at 13:10 | Irina Slav

Saudi Arabia’s Energy Ministry has invited bids for a 400-MW wind power plant to be built in northwestern Saudi Arabia. According to the press release, the Dumat Al Jandal…

UK’s Centrica Merges Oil Business With Bayerngas Norge

UK’s Centrica Merges Oil Business With Bayerngas Norge

Jul 17, 2017 at 10:56 | Tsvetana Paraskova

UK energy company Centrica is combining its European oil and gas exploration and production business in a joint venture with Bayerngas Norge, creating one of Europe’s leading independent E&P…

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