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Kenya and Uganda End Oil Imports Dispute

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Russia Cuts Oil Shipments To Belarus In Q2 2017

Russia Cuts Oil Shipments To Belarus In Q2 2017

Apr 14, 2017 at 16:24 | Zainab Calcuttawala

Russia will lower oil shipments to Belarus from 6 million tons to 5 million tons in the second quarter of 2017, according to a new Reuters report. Sources close…

Rents In Oil Producing Areas Are On The Decline

Rents In Oil Producing Areas Are On The Decline

Apr 14, 2017 at 16:24 | Zainab Calcuttawala

Declining rents in the United States’ oil producing regions could be a key factor in bringing down national averages 10 years after the housing bubble burst. The housing bust that…

North Sea Oil Output Set For Decline

North Sea Oil Output Set For Decline

Apr 14, 2017 at 13:07 | Irina Slav

North Sea crude oil and condensate production will decline by 40,000 bpd next year as fewer new projects come online, according to research from ESAI Energy. Before that, however,…

Dakota Access To Start Carrying Crude Oil Across State Lines In May

Dakota Access To Start Carrying Crude Oil Across State Lines In May

Apr 14, 2017 at 09:34 | Irina Slav

Energy Transfer Partners’ $3.8-billion Dakota Access pipeline will begin carrying crude oil from the Bakken play to Illinois on May 14, the company said in a regulatory filing. The pipeline…

North Dakota Oil Output Hits 1 Million Bpd

North Dakota Oil Output Hits 1 Million Bpd

Apr 14, 2017 at 09:26 | Irina Slav

Crude oil production in North Dakota exceeded 1 million barrels daily in February for the first time in three months, but the increase is temporary as thaw season will prompt…

Nigeria On Track To Expand Oil Output Further

Nigeria On Track To Expand Oil Output Further

Apr 14, 2017 at 09:20 | Irina Slav

As OPEC discusses a six-month extension of the oil production cut agreement that it struck in November, Nigeria plans to continue ramping up its own output. The country, which…

Musk Shocks Tesla Stock After “Tesla Semi” Announcement On Twitter

Musk Shocks Tesla Stock After “Tesla Semi” Announcement On Twitter

Apr 13, 2017 at 17:38 | Zainab Calcuttawala

Tesla CEO Elon Musk’s announcement of an upcoming electric truck caused the company’s shares to jump by three percent on Thursday, according to a new report by Reuters. "Tesla…

SEC Filings Show Tillerson Made $27.4 Million In 2016

SEC Filings Show Tillerson Made $27.4 Million In 2016

Apr 13, 2017 at 17:37 | Zainab Calcuttawala

Regulatory filings show that ExxonMobil CEO turned U.S. Secretary of State Rex Tillerson made $27.4 million last year, according to a new report by Reuters. He, along with several other…

Gasoline Prices Significantly Higher This Summer

Gasoline Prices Significantly Higher This Summer

Apr 13, 2017 at 17:32 | Zainab Calcuttawala

Gasoline prices will hover around $2.46 per gallon this summer, 23 cents higher than last summer, according to a report by the Energy Information Administration (EIA) published today. Still,…

China Just Became The World’s Top Oil Importer

China Just Became The World’s Top Oil Importer

Apr 13, 2017 at 16:33 | Irina Slav

With a daily import rate of 9.17 million barrels of crude last month, China broke its own previous record and overtook the U.S. as the largest importer of the commodity…

Chevron Ponders Sale Of $2.5 Billion Stake In Athabasca Oil Sands Project

Chevron Ponders Sale Of $2.5 Billion Stake In Athabasca Oil Sands Project

Apr 13, 2017 at 12:39 | Zainab Calcuttawala

Chevron is pondering the sale of its 20 percent stake in the Athabasca Oil Sands venture in Canada for $2.5 billion, according to anonymous sources cited by Reuters in a…

Conoco Sells Assets For $3 Billion

Conoco Sells Assets For $3 Billion

Apr 13, 2017 at 12:18 | Irina Slav

ConocoPhillips has closed a deal to sell its assets in the San Juan Basin in the Southwestern U.S. to Hilcorp Energy Company for US$3 billion, bring its total divestment proceeds…

Nigerian Army Destroys 13 Illegal Refineries

Nigerian Army Destroys 13 Illegal Refineries

Apr 13, 2017 at 10:07 | Irina Slav

The Nigerian army said it had destroyed 13 illegal refineries in the Niger Delta – a small portion of the hundreds of such facilities that process crude oil stolen from…

Wafa Field Reopens In Libya After Local Elders Negotiate Deal With Armed Group

Wafa Field Reopens In Libya After Local Elders Negotiate Deal With Armed Group

Apr 12, 2017 at 17:01 | Zainab Calcuttawala

The Wafa oilfield in the western side of Libya has reopened oil and gas pipelines to its nearby port after local elders negotiated an agreement with an armed group that…

BP CEO’s Salary Package Remains Europe’s Highest After 40% Cut

BP CEO’s Salary Package Remains Europe’s Highest After 40% Cut

Apr 12, 2017 at 16:56 | Zainab Calcuttawala

Even with a forty percent salary cut for CEO Bob Dudley last year, the British Petroleum head remains the highest paid amongst European oil bosses, according to a new report by…

Least Populated County In The U.S. Could Be The Next Hotspot For Shale

Least Populated County In The U.S. Could Be The Next Hotspot For Shale

Apr 12, 2017 at 16:49 | Zainab Calcuttawala

An underexplored well in Loving County is the next hot shale spot in the Permian Basin, according to a new report by The Motley Fool. Successful drills in neighboring…

Egypt To Ink 1 Million Barrel/Month Oil Supply Deal With Iraq

Egypt To Ink 1 Million Barrel/Month Oil Supply Deal With Iraq

Apr 12, 2017 at 16:42 | Zainab Calcuttawala

The Egyptian cabinet has agreed to purchase one million barrels of oil from Iraq monthly, according to a statement by the North African nation’s Oil Minister Tareq el-Molla on Tuesday.…

Kurdistan Resumes Oil Exports After Pipeline Maintenance

Kurdistan Resumes Oil Exports After Pipeline Maintenance

Apr 12, 2017 at 14:30 | Tsvetana Paraskova

The semi-autonomous Kurdistan Regional Government (KRG) resumed on Wednesday crude oil exports via the Kirkuk-Ceyhan pipeline to the Turkish Mediterranean coast, following a three-day planned maintenance on the Turkish side,…

World’s 2nd Largest LNG Importer to Boost Consumption

World’s 2nd Largest LNG Importer to Boost Consumption

Apr 12, 2017 at 14:22 | Tsvetana Paraskova

The two leading candidates in next month’s presidential election in South Korea are vowing to scale back the country’s reliance on nuclear energy and coal imports, while boosting the use…

Saudi Arabia Keeps Asian Oil Export Volumes Unchanged

Saudi Arabia Keeps Asian Oil Export Volumes Unchanged

Apr 12, 2017 at 11:13 | Irina Slav

Saudi Arabia will export full volumes of crude oil to at least three Asian clients next month, sources from the company told Reuters. The move suggests that the Kingdom…

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