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Oil Prices Gain 2% on Tightening Supply

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ETP Claims DAPL Faced “Coordinated Attacks” From Unnamed Saboteurs

ETP Claims DAPL Faced “Coordinated Attacks” From Unnamed Saboteurs

Mar 22, 2017 at 10:55 | Zainab Calcuttawala

The Dakota Access Pipeline will begin pumping oil from North Dakota later this month, but the companies constructing the project said that efforts had been made in recent weeks…

Oil Markets Recoil As Inventory Builds More Than Feared

Oil Markets Recoil As Inventory Builds More Than Feared

Mar 21, 2017 at 17:45 | Julianne Geiger

The American Petroleum Institute (API) reported a build of 4.529 million barrels in United States crude oil inventories against expert predictions that domestic supplies would see only a 2-million-barrel…

Russia Remained The World’s Top Oil Producer In January

Russia Remained The World’s Top Oil Producer In January

Mar 21, 2017 at 17:38 | Zainab Calcuttawala

Russia remained the world’s largest oil producer in January, according to new statistics from the Russian Federal State Statistics Service (Rosstat) on Tuesday. The country’s daily output averaged 10.764…

Aramco Seeks To Raise $2B In First Bond Issue Ahead Of IPO

Aramco Seeks To Raise $2B In First Bond Issue Ahead Of IPO

Mar 21, 2017 at 15:11 | Tsvetana Paraskova

Saudi Arabia’s state oil giant Saudi Aramco is planning to issue around $2 billion worth of bonds as early as the second quarter this year, in its first bond sale…

OPEC May Have No Choice But To Extend Cuts

OPEC May Have No Choice But To Extend Cuts

Mar 21, 2017 at 14:22 | Oil & Gas 360

WTI crude oil prices were down again Monday, even as news that OPEC was considering extending production cuts reached markets. For a change, prices didn’t reflect the news of possible…

Eni, Gazprom Boost Cooperation To Ship Russian Gas To Europe

Eni, Gazprom Boost Cooperation To Ship Russian Gas To Europe

Mar 21, 2017 at 14:05 | Tsvetana Paraskova

Italy’s oil and gas major Eni SpA said on Tuesday that it had signed an agreement with Russia’s gas giant Gazprom to jointly analyze the prospects for cooperation in…

Chevron’s $1B Chinese Offshore Oil Asset Sale Hits A Snag

Chevron’s $1B Chinese Offshore Oil Asset Sale Hits A Snag

Mar 21, 2017 at 13:58 | Tsvetana Paraskova

Chevron’s plan to sell its non-operated interests in oilfields offshore China for up to $1 billion has been stalled since the U.S. major has not received good enough bids,

Chevron Unlikely To Expand Major Australian LNG Projects

Chevron Unlikely To Expand Major Australian LNG Projects

Mar 21, 2017 at 13:34 | Tsvetana Paraskova

The oil price slump has shifted the trend in new project investments towards smaller projects with faster returns and away from mega projects, and Chevron is unlikely to sanction another…

Japan Oil Refiners Fear Chinese Rivals Will Squeeze Them Out

Japan Oil Refiners Fear Chinese Rivals Will Squeeze Them Out

Mar 21, 2017 at 12:00 | Irina Slav

Japanese oil refiners are worrying that China’s new fuel standards that are driving higher output will ultimately result in a deadly loss of market share for the Japanese firms.

New China-Myanmar Oil Route Nears Launch

New China-Myanmar Oil Route Nears Launch

Mar 21, 2017 at 11:38 | Irina Slav

A pipeline that will carry crude oil from the coast of Myanmar to southwest China is nearing its start as the two countries settle their differences regarding the terms of…

Saudi Crude Output Cuts In January Bring Exports Down 3.8 Percent

Saudi Crude Output Cuts In January Bring Exports Down 3.8 Percent

Mar 20, 2017 at 17:27 | Zainab Calcuttawala

Saudi Arabia has cut crude oil exports by 3.8 percent in January in accordance with the deal the country negotiated between members of the Organization of Petroleum Exporting Countries, Bloomberg…

DAPL Protest Clean-Up Cost North Dakota $38M

DAPL Protest Clean-Up Cost North Dakota $38M

Mar 20, 2017 at 17:11 | Zainab Calcuttawala

North Dakota Governor Doug Borgum seeks federal reimbursement as a potential means of recovering the $38-million cost of policing and cleaning up after protestors who demonstrated against the Dakota…

Norway’s Borr Drilling To Buy Transocean Rigs For $1.35B

Norway’s Borr Drilling To Buy Transocean Rigs For $1.35B

Mar 20, 2017 at 15:35 | Tsvetana Paraskova

Newly created Norwegian drilling contractor Borr Drilling said on Monday that it had signed a deal to acquire the entire fleet of 15 high-specification jack-up rigs of Transocean for…

Shell Seeks Listing More Shares To Use As Alternative To Cash Dividend

Shell Seeks Listing More Shares To Use As Alternative To Cash Dividend

Mar 20, 2017 at 13:16 | Tsvetana Paraskova

Royal Dutch Shell said on Monday that it had applied to the UK Listing Authority and the London Stock Exchange for the listing of 47,791,678 A ordinary shares that…

$5.6B Loan Approved For Glencore, Qatar Rosneft Stake Buy

$5.6B Loan Approved For Glencore, Qatar Rosneft Stake Buy

Mar 20, 2017 at 12:16 | Irina Slav

Italy’s Financial Security Committee has approved a $5.6-billion (5.2-billion-euro) loan from Intesa SanPaolo to Glencore and the Qatar Investment Authority for the acquisition of a 19.5-percent stake in Rosneft.…

South Sudan Rebels Kidnap Workers Of Chinese-Malaysian Oil Firm

South Sudan Rebels Kidnap Workers Of Chinese-Malaysian Oil Firm

Mar 20, 2017 at 11:31 | Tsvetana Paraskova

According to Reuters, on Saturday, rebels loyal to former South Sudanese vice president, Riek Machar, kidnapped four workers of DAR Petroleum Operating Company, whose holders include China National…

Thailand’s PTT Looking To Spend $11B On Oil, LNG Projects

Thailand’s PTT Looking To Spend $11B On Oil, LNG Projects

Mar 20, 2017 at 10:09 | Irina Slav

Thailand’s state-owned oil and gas company PTT is seeking investment opportunities for its $11 billion in cash and marketable securities to make up for the decline in oil and gas…

Sinopec Nearing Deal To Buy Chevron’s $1B South African Assets

Sinopec Nearing Deal To Buy Chevron’s $1B South African Assets

Mar 17, 2017 at 16:44 | Tsvetana Paraskova

China’s Sinopec is the last bidder left in the race to buy a majority interest in Chevron’s South African assets worth $1 billion, Reuters reported on Friday, citing two…

French Oil Giant Seeks 50% Stake In Iran’s $4B South Pars

French Oil Giant Seeks 50% Stake In Iran’s $4B South Pars

Mar 17, 2017 at 14:44 | Damir Kaletovic

Total signed a preliminary deal for the project last year, and today stated its intentions in a regulatory filing with the U.S. Securities and Exchange Commission (SEC). The move makes…

Famine-Hit South Sudan Buys Arms With Oil Money, UN Report Says

Famine-Hit South Sudan Buys Arms With Oil Money, UN Report Says

Mar 17, 2017 at 14:39 | Tsvetana Paraskova

The government of war-torn famine-stricken South Sudan is using at least half of its revenues from oil sales to acquire weapons, despite the dramatic political, economic and humanitarian crises in…

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