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Carbon-Eating Bacteria May Hold The Key To Decarbonization

Carbon-Eating Bacteria May Hold The Key To Decarbonization

A U.S.-based biotechnology firm is…

Is Copper Heading to $15,000?

Is Copper Heading to $15,000?

Copper prices reached $10,000 per…

News

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…

Canada Plans Single Agency To Oversee Big Energy Projects

Canada Plans Single Agency To Oversee Big Energy Projects

Jun 30, 2017 at 11:23 | Tsvetana Paraskova

In a bid to modernize environmental assessment and regulatory processes and regain public trust in agencies, Canada is proposing to establish a single government agency responsible for assessments of…

Trump Approves New U.S.-Mexico Petroleum Pipeline

Trump Approves New U.S.-Mexico Petroleum Pipeline

Jun 30, 2017 at 09:23 | Tsvetana Paraskova

To boost American energy exports, the administration of U.S. President Donald Trump has approved the construction of a new petroleum pipeline from the U.S. to Mexico that “will go right…

Rosneft Goes At It Alone In Far East LNG Plant

Rosneft Goes At It Alone In Far East LNG Plant

Jun 29, 2017 at 21:15 | Zainab Calcuttawala

Russian oil major Rosneft could build its own liquefied natural gas plant in the far east, apart from its planned facility in partnership with ExxonMobil, according to Rosneft Vice President…

Ghana Production To Average 200,000 BPD In 2017

Ghana Production To Average 200,000 BPD In 2017

Jun 29, 2017 at 20:50 | Zainab Calcuttawala

Ghanaian oil production will average 200,000 barrels per day in 2017, despite a two-month shutdown at one of the small African nation’s major production facilities. The Jubilee floating, production, storage,…

Kenya Delays Much-Awaited First Oil By Three Months

Kenya Delays Much-Awaited First Oil By Three Months

Jun 29, 2017 at 20:45 | Zainab Calcuttawala

First oil from Kenya will arrive in international markets three months later than projected, according to an announcement from the nation’s energy minister on Thursday. Minister Charles Keter said the…

North Sea Crude Demand Grows As Inventories Drop From Four Month Highs

North Sea Crude Demand Grows As Inventories Drop From Four Month Highs

Jun 29, 2017 at 13:23 | Zainab Calcuttawala

Demand for North Sea crude is resurgent as inventories of the grade stored on ships docked around the world fall from four-month highs last week, according to a new report…

Libya’s Oil Production Nears 4 Year High

Libya’s Oil Production Nears 4 Year High

Jun 29, 2017 at 12:27 | Tsvetana Paraskova

It looks like Libya is right on track to reach its goal to raise crude output to 1 million bpd by the end of July, in what would be a…

Kurdistan Denies U.S. Oil Export Claims

Kurdistan Denies U.S. Oil Export Claims

Jun 29, 2017 at 11:43 | Tsvetana Paraskova

Iraq’s semi-autonomous region of Kurdistan has been assured by the buyers of its crude oil that the oil was not headed to the U.S., Kurdistan’s Minister of Natural Resources Ashti…

Niger Delta Militants Call Off Oil War

Niger Delta Militants Call Off Oil War

Jun 29, 2017 at 09:55 | Tsvetana Paraskova

A new militant group in the oil-rich Niger Delta is calling off the war it had threatened to start on June 30, and has decided to “give peace a…

Linn And Citizen Form Joint Venture To Develop Oklahoma Shale

Linn And Citizen Form Joint Venture To Develop Oklahoma Shale

Jun 28, 2017 at 17:37 | Zainab Calcuttawala

Linn Energy and Citizen Energy will create a separate joint venture to develop oil resources in a 140,000-acre piece of land in Oklahoma, according to a new report by

Nigeria To Switch To Gas As Oil Reserves Set To Dry Up In 25 Years

Nigeria To Switch To Gas As Oil Reserves Set To Dry Up In 25 Years

Jun 28, 2017 at 16:40 | Zainab Calcuttawala

Nigeria will run out of its prized oil reserves in the next 25 to 30 years, which means the country should shift its focus to natural gas production, according…

Norway Tops Natural Resource Management Ranking

Norway Tops Natural Resource Management Ranking

Jun 28, 2017 at 16:29 | Zainab Calcuttawala

Norway placed first in a new international ranking of countries’ management of natural resource extraction and wealth, closely beating out Chile, Britain, and Canada for the top spot. The…

Indian Oil Producers Face New Scrutiny From Modi Government As 2020 Target Nears

Indian Oil Producers Face New Scrutiny From Modi Government As 2020 Target Nears

Jun 28, 2017 at 16:04 | Zainab Calcuttawala

Indian state producers face increased scrutiny from the energy ministry to make sure the Asian giant meets its import dependency reduction goals, according to Oil Minister Dharmendra Pradhan on…

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