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News

South Sudan Reopens Negotiations For B1 And B2 Oil Blocks

South Sudan Reopens Negotiations For B1 And B2 Oil Blocks

Apr 24, 2017 at 14:01 | Zainab Calcuttawala

South Sudan is ready to reopen negotiation for drilling rights to Blocks B1 and B2, after an attempt to reach a deal with three foreign oil majors broke down due…

Nigeria Continues To Claw Back Money From Oil-Sector Players

Nigeria Continues To Claw Back Money From Oil-Sector Players

Apr 24, 2017 at 13:31 | Ronke Luke

Nearly three and a half years after the Berne Declaration (BD) published its explosive report, “Swiss Traders’ Opaque Deals in Nigeria,” alleging billion dollar fraud in oil trades and…

Chevron Continues Billion-Dollar Asset Sales In Asia

Chevron Continues Billion-Dollar Asset Sales In Asia

Apr 24, 2017 at 12:40 | Tsvetana Paraskova

Less than a month after it announced the completion of the sale of its geothermal business in Indonesia, Chevron Corporation said on Monday that it entered into an agreement to…

Saudi King Sacks Three Ministers, Reinstates Public Service Perks

Saudi King Sacks Three Ministers, Reinstates Public Service Perks

Apr 24, 2017 at 10:26 | Irina Slav

Saudi Arabia’s King Salman has decreed several sweeping changes to the government and has reinstated perks for civil servants that were removed last year amid the low oil prices. Now,…

India’s Hunger For Oil Storage Causes Long Gas Lines In Sri Lanka

India’s Hunger For Oil Storage Causes Long Gas Lines In Sri Lanka

Apr 24, 2017 at 09:44 | Irina Slav

The Ceylon Petroleum Common Workers Union has stopped releasing gasoline from 12 storage facilities, causing long lines at gas stations across Sri Lanka. The industrial action came in response to…

Iran’s Crude Oil Exports Set For 14-Month Low In May

Iran’s Crude Oil Exports Set For 14-Month Low In May

Apr 21, 2017 at 17:27 | Tsvetana Paraskova

Iran’s crude oil exports in May will likely hit their lowest volume in 14 months, as the Islamic Republic has cleared tanker storage and Asian buyers are set to load…

New York, Los Angeles, and San Francisco Suffer Simultaneous Power Outages

New York, Los Angeles, and San Francisco Suffer Simultaneous Power Outages

Apr 21, 2017 at 17:21 | Zainab Calcuttawala

Three major U.S. cities struggled to power vital transport infrastructure on Friday, delaying work and travel for thousands of Americans just before the weekend. New York’s subway B line lost…

Schlumberger Q1 Revenue Grows For First Time In 2 Years

Schlumberger Q1 Revenue Grows For First Time In 2 Years

Apr 21, 2017 at 16:56 | Tsvetana Paraskova

The U.S. shale revival helped Schlumberger (NYSE:SLB) report on Friday its first annual revenue growth for a quarter for the first time in more than two years, but the…

Ithaca Energy Shareholders Approve Takeover By Israel’s Delek

Ithaca Energy Shareholders Approve Takeover By Israel’s Delek

Apr 21, 2017 at 14:03 | Tsvetana Paraskova

North Sea oil and gas operator Ithaca Energy said on Friday that the conditions of the cash takeover offer by Israel’s Delek Group have been satisfied and shareholders of Ithaca…

Nigeria’s Navy Thwarts Attack On Oil Products Pipeline

Nigeria’s Navy Thwarts Attack On Oil Products Pipeline

Apr 21, 2017 at 13:06 | Tsvetana Paraskova

Nigeria’s navy has foiled an attempt by vandals to break a pipeline operated by the Nigerian National Petroleum Corporation (NNPC) that carries petroleum products from Atlas Cove, Lagos, to Mosimi…

Russia Hits 250,000 Bpd Oil Production Cut Milestone

Russia Hits 250,000 Bpd Oil Production Cut Milestone

Apr 21, 2017 at 13:00 | Irina Slav

Russia has cut 250,000 bpd of its crude oil output, with another 50,000 bpd to go as per its agreement with OPEC, Energy Minister Alexander Novak told media today,…

Pemex Is Looking For Partners In New Deepwater JV

Pemex Is Looking For Partners In New Deepwater JV

Apr 21, 2017 at 11:26 | Irina Slav

Mexico’s energy giant Pemex is looking for partners for the development of two oil and gas-rich areas in the Gulf of Mexico, Maximino and Nobilis, unnamed sources have told

Is Chevron’s Loss in Australian Court The Start Of Larger Tax Crackdown?

Is Chevron’s Loss in Australian Court The Start Of Larger Tax Crackdown?

Apr 21, 2017 at 11:04 | Irina Slav

The Federal Court of Australia has twice found Chevron responsible for shifting profits from Australia to the U.S. using an intra-company loan mechanism. This latest ruling upholds an identical one…

Will BP Be The Next Big Player To Exit The Canadian Oil Sands?

Will BP Be The Next Big Player To Exit The Canadian Oil Sands?

Apr 20, 2017 at 17:03 | Zainab Calcuttawala

Three Canadian oil sands projects could be losing their British Petroleum backing soon, according to anonymous sources that spoke to Reuters on Thursday. The British oil and gas company…

Platts: India Will Not Achieve Target To Cut Oil Imports By 10%

Platts: India Will Not Achieve Target To Cut Oil Imports By 10%

Apr 20, 2017 at 17:03 | Tsvetana Paraskova

India will not be able to reach its target to reduce its oil imports dependence by 10 percent by 2022, S&P Global Platts analysts reckon. India’s Prime Minister Narendra Modi…

Azerbaijan’s SOCAR Boosts Oil, Gas Output In Caspian Sea

Azerbaijan’s SOCAR Boosts Oil, Gas Output In Caspian Sea

Apr 20, 2017 at 17:03 | Tsvetana Paraskova

Azerbaijan’s state-run oil company SOCAR will produce another 43,800 tons of oil and around 3.65 million cubic meters (129 million cubic feet) of gas per year after it commissioned…

Oman To Finally Launch Stock Sale Plan For Downstream Companies

Oman To Finally Launch Stock Sale Plan For Downstream Companies

Apr 20, 2017 at 16:54 | Irina Slav

Oman will sell stakes in state-owned oil and gas downstream companies in a bid to prop up its finances after the oil price crunch from 2014. These plans have been…

U.S. Oil & Gas M&A Sees Best Q1 Ever

U.S. Oil & Gas M&A Sees Best Q1 Ever

Apr 20, 2017 at 15:00 | Tsvetana Paraskova

U.S. oil and gas mergers and acquisitions in Q1 2017 hit a record high value for a first quarter, boosted by a wave of mega deals and the attractive Permian…

Dutch Court Orders Criminal Probe Of Shell-Exxon JV Over Gas Quakes

Dutch Court Orders Criminal Probe Of Shell-Exxon JV Over Gas Quakes

Apr 20, 2017 at 14:54 | Tsvetana Paraskova

A Dutch appeals court ordered on Thursday local prosecutors to open a criminal investigation into whether gas company NAM, jointly owned by Shell and ExxonMobil, was criminally liable for earthquakes…

Indian Refiner Seeks To Sell Plant To Aramco

Indian Refiner Seeks To Sell Plant To Aramco

Apr 20, 2017 at 09:41 | Irina Slav

India’s ONGC Petrol Additions Ltd is negotiating the sale of half its $4.6-billion petrochemicals plant with Saudi Aramco, unnamed sources told Bloomberg. The negotiations are still private, the source…

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