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Armenia and Azerbaijan Engulfed in Legal Disputes at the Hague

Armenia and Azerbaijan Engulfed in Legal Disputes at the Hague

Armenia and Azerbaijan continue their…

Explaining the Israel and Iran Missile Exchange

Explaining the Israel and Iran Missile Exchange

In response to Iran's attack…

News

Shell’s Forcados Oil Terminal Resumes Operations

Shell’s Forcados Oil Terminal Resumes Operations

Jun 07, 2017 at 08:31 | Irina Slav

Shell’s Forcados oil export terminal in Nigeria has begun operating after a prolonged force majeure of over a year following a string of militant attacks. According to Bloomberg data, the…

Russia Dismisses Reports It Could Buy Back Rosneft Stake From Qatar

Russia Dismisses Reports It Could Buy Back Rosneft Stake From Qatar

Jun 07, 2017 at 08:21 | Tsvetana Paraskova

The Kremlin dismissed on Wednesday speculation that Russia could buy back part of the 19.5-percent stake in its oil giant Rosneft that it had sold to Qatar Investment Authority…

Oil Prices Rise Following Another Big Inventory Draw

Oil Prices Rise Following Another Big Inventory Draw

Jun 06, 2017 at 15:57 | Julianne Geiger

The American Petroleum Institute (API) reported a draw of 4.62 million barrels in United States crude oil inventories, compared to analyst expectations that markets would see a draw of…

Texas Oil And Gas Companies Add 12,000 Job In Last 6 Months

Texas Oil And Gas Companies Add 12,000 Job In Last 6 Months

Jun 06, 2017 at 15:57 | Zainab Calcuttawala

The Texas oil and gas industry has added 12,000 new jobs in the past six months, according to a new report from the Texas Petro Index. The spike in job…

Qatar Spat Affects Crude Oil Loadings In The Middle East

Qatar Spat Affects Crude Oil Loadings In The Middle East

Jun 06, 2017 at 14:04 | Tsvetana Paraskova

After several Arab nations cut ties with Qatar, port authorities in Saudi Arabia, the UAE, and Bahrain have barred Qatar-flag or owned vessels from calling at their ports, thus making…

Venezuela Starves Domestic Oil Refineries To Supply Cuban Orders

Venezuela Starves Domestic Oil Refineries To Supply Cuban Orders

Jun 06, 2017 at 14:04 | Zainab Calcuttawala

Venezuela is starving its own refinery to send Mesa 30 crude to Cuba and Curacao, according to a new report by Reuters. The 187,000-barrel Puerto la Cruz facility in…

Indonesian Pertamina Defers Refinery Projects Over Funding

Indonesian Pertamina Defers Refinery Projects Over Funding

Jun 06, 2017 at 13:22 | Tsvetana Paraskova

Indonesia’s state energy firm Pertamina plans to postpone upgrades at some of its refineries, including a joint project with Saudi Aramco, over financing concerns, said Rachmad Hardadi, director of megaprojects…

EIA Lowers Brent Forecast For 2018

EIA Lowers Brent Forecast For 2018

Jun 06, 2017 at 13:22 | Zainab Calcuttawala

Brent and West Texas Intermediate crude traded up on Tuesday, despite a new report by the Energy Information Administration (EIA) that lowered its outlook on average barrel prices in…

Ukraine, Poland Plan Gas Hub To Cut Russian Dominance

Ukraine, Poland Plan Gas Hub To Cut Russian Dominance

Jun 06, 2017 at 10:53 | Tsvetana Paraskova

Poland and Ukraine plan to develop a regional gas hub on the Poland-Ukraine border that would supply the region with gas other than Russia’s, in a bid to end…

China’s Teapots Agree To Play Ball With State-Run Giants

China’s Teapots Agree To Play Ball With State-Run Giants

Jun 06, 2017 at 10:06 | Irina Slav

A group that represents most of the independent oil refiners in China has issued a statement pledging the members’ full compliance with government regulation governing how these independents operate, so…

Renewable Energy Adoption Lags Behind Climate Targets: IEA

Renewable Energy Adoption Lags Behind Climate Targets: IEA

Jun 06, 2017 at 09:43 | Irina Slav

World governments have failed to accelerate and scale up renewable energy adoption quickly enough to meet the climate action goals set out in the Paris Agreement, the International Energy Agency…

Major Colombian Oil Field Resumes Production

Major Colombian Oil Field Resumes Production

Jun 06, 2017 at 09:23 | Irina Slav

The La Cira Infantas oil field in Colombia has returned to production after protesters shut it off in May in response to legislative changes concerning the oil industry. The return…

Russia And Turkey Inch Towards Full Restoration Of Economic Relations

Russia And Turkey Inch Towards Full Restoration Of Economic Relations

Jun 05, 2017 at 16:33 | Zainab Calcuttawala

Military cooperation in the war against the Islamic State and the Turkish Stream natural gas pipeline project is cooling tensions between Russia and Turkey, according to a new report by…

Trump Moves To Allow Drilling On Atlantic Coast

Trump Moves To Allow Drilling On Atlantic Coast

Jun 05, 2017 at 15:42 | Zainab Calcuttawala

A new proposal by the Trump administration will allow oil companies to use seismic air guns to search for fossil fuel deposits in the Atlantic Ocean, according to reports emerging…

French Total Back In Contention For Coveted South Sudan Blocks

French Total Back In Contention For Coveted South Sudan Blocks

Jun 05, 2017 at 14:43 | Zainab Calcuttawala

Total SA is back in the running to develop two oil blocks in South Sudan after previous negotiations for the French company to work the same fields collapsed in April,…

Energy Majors Eye A $1B Stake In Malaysian NatGas Asset

Energy Majors Eye A $1B Stake In Malaysian NatGas Asset

Jun 05, 2017 at 14:32 | Tsvetana Paraskova

Malaysia’s state oil firm Petronas has pushed a plan to sell a US$1-billion stake in a local offshore gas project to the next round of bidding expected to attract international…

Exxon Signs Deal For Equatorial Guinea Offshore Block

Exxon Signs Deal For Equatorial Guinea Offshore Block

Jun 05, 2017 at 13:03 | Tsvetana Paraskova

OPEC’s newest member, Equatorial Guinea, has signed a production-sharing contract with ExxonMobil for offshore block EG-11, Equatorial Guinea’s oil minister Gabriel Mbaga Obiang Lima said on Monday. The new contract…

Zion Oil & Gas Starts Drilling Onshore Israel

Zion Oil & Gas Starts Drilling Onshore Israel

Jun 05, 2017 at 12:48 | Tsvetana Paraskova

Dallas-based Zion Oil & Gas, Inc said on Monday that it had begun drilling a deep well onshore Israel, expecting to drill through at least four different geological strata with…

Tesla In Hot Water After New Insurance Report

Tesla In Hot Water After New Insurance Report

Jun 05, 2017 at 12:00 | ZeroHedge

AAA is raising premiums on Tesla vehicles by 30% after data showed that owners of Model S and Model X cars filed claims at abnormally high rates, and that those…

BP Prioritizes Natural Gas, Signs Deal With Rosneft

BP Prioritizes Natural Gas, Signs Deal With Rosneft

Jun 05, 2017 at 11:30 | Oil & Gas 360

A new MoU between BP and Rosneft will see more Russian natural gas flowing to Europe BP (ticker: BP) and Russian oil giant Rosneft signed a Memorandum of Understanding (MoU)…

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