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Global Climate Goals Still Unreachable Despite Record Renewable Growth

Global Climate Goals Still Unreachable Despite Record Renewable Growth

Renewable energy installations reached record…

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News

Oil Prices Pull Higher After API Reports Draws Across The Board

Oil Prices Pull Higher After API Reports Draws Across The Board

Apr 11, 2017 at 16:45 | Julianne Geiger

The American Petroleum Institute (API) reported a draw of 1.3 million barrels in United States crude oil inventories, compared to analyst expectations for a crude oil build of 125,000…

OPEC Jumps On The Big Data Bandwagon

OPEC Jumps On The Big Data Bandwagon

Apr 11, 2017 at 14:57 | Tsvetana Paraskova

While it tries to ‘fix’ the oil market with production cuts, OPEC is jumping on the big-data bandwagon and is launching an Oil and Gas Big Data Project to…

Russia Signals Weighing Extension Of Oil Output Cuts

Russia Signals Weighing Extension Of Oil Output Cuts

Apr 11, 2017 at 13:36 | Tsvetana Paraskova

Russia’s Energy Ministry will soon begin talking with domestic oil companies about the option to extend the production cuts beyond June, Energy Minister Alexander Novak said on Tuesday, while Moscow-based…

Texas New Drilling Permits Shoot Up Threefold in March

Texas New Drilling Permits Shoot Up Threefold in March

Apr 11, 2017 at 10:31 | Irina Slav

The Texas Railroad Commission issued 1,310 new oil and gas drilling permits to shale producers last month, up from just 511 a year ago. Most of these were issued for…

Nigerian Oil Corp Boasts Trading Deficit Decline

Nigerian Oil Corp Boasts Trading Deficit Decline

Apr 11, 2017 at 09:13 | Irina Slav

Nigeria’s National Oil Corporation said its trading deficit for January had slimmed down to $50 million (14.26 billion naira) from $60 million (17.01 billion naira) in the previous month. The…

12 Dead And Many Injured After Pipeline Scavenging Goes Wrong In Yemen

12 Dead And Many Injured After Pipeline Scavenging Goes Wrong In Yemen

Apr 10, 2017 at 17:33 | Zainab Calcuttawala

Twelve people died and 29 others were injured from an oil pipeline fire in the Bajel district of Yemen two days ago, according to a security official who confirmed reports…

Kirkuk-Ceyhan Pipeline To Go Offline For Three Days For Maintenance

Kirkuk-Ceyhan Pipeline To Go Offline For Three Days For Maintenance

Apr 10, 2017 at 17:20 | Zainab Calcuttawala

Required maintenance on oil pipelines connecting the Kurdistan region in Iraq to Turkey will bring the facilities offline for three days, according to a Turkish official. “The export of…

G7 Fails To Agree On Climate Strategy

G7 Fails To Agree On Climate Strategy

Apr 10, 2017 at 17:09 | Zainab Calcuttawala

The energy czars of the G7 group of nations failed to reach agreement on a strategy to combat global warming, as the United States’ new leadership pedals doubts on the…

China, Myanmar Oil Pipeline To Launch “Very Quickly”

China, Myanmar Oil Pipeline To Launch “Very Quickly”

Apr 10, 2017 at 15:49 | Tsvetana Paraskova

China and Myanmar have finally reached an agreement on an oil pipeline that that would allow China to import crude oil from overseas via Myanmar, and the project is slated…

Shell And Eni Continue To Deny Involvement In $1.3B Corruption Scandal

Shell And Eni Continue To Deny Involvement In $1.3B Corruption Scandal

Apr 10, 2017 at 13:51 | Tsvetana Paraskova

Oil majors Royal Dutch Shell and Eni SpA are reiterating that neither the companies nor any of their staff have been involved in any wrongdoing while securing the rights to…

Petronas Sounds Out Potential Buyers For $1B Gas Project Stake

Petronas Sounds Out Potential Buyers For $1B Gas Project Stake

Apr 10, 2017 at 11:32 | Tsvetana Paraskova

Malaysia’s Petronas has approached around a dozen potential buyers offering $1 billion worth of a stake in a local gas project, Reuters reported on Monday, citing sources familiar with the…

Major Shareholder Urges BHP Billiton To Demerge U.S. Oil Assets

Major Shareholder Urges BHP Billiton To Demerge U.S. Oil Assets

Apr 10, 2017 at 10:44 | Tsvetana Paraskova

Hedge fund manager Elliott Advisors, which holds around 4.1 percent of BHP Billiton Plc, is proposing a plan to increase capital returns to shareholders, which includes demerging the mining…

Iran’s New Oil Contract Faces Further Delay

Iran’s New Oil Contract Faces Further Delay

Apr 10, 2017 at 09:37 | Irina Slav

The Iranian Petroleum Contract designed to bring in more foreign investors to get the country’s energy industry back on its feet is still being reviewed by Iran’s security council.…

BLS Reports 1,800 New Oil And Gas Extraction Jobs For March

BLS Reports 1,800 New Oil And Gas Extraction Jobs For March

Apr 07, 2017 at 17:00 | Zainab Calcuttawala

The number of mining jobs in the United States increased in March according to the latest data from the Bureau of Labor Statistics released today. Mining jobs include positions related…

Oil Price Hike In Mexico Causes 400% Inflation Increase Compared To 2016

Oil Price Hike In Mexico Causes 400% Inflation Increase Compared To 2016

Apr 07, 2017 at 16:55 | Zainab Calcuttawala

The increased price of gasoline in Mexico is causing inflation to increase in the North American country, according to a new report by Prensa Latina, which cited data from…

Norway Gives Statoil, Aker BP Permits To Drill In Barents Seas

Norway Gives Statoil, Aker BP Permits To Drill In Barents Seas

Apr 07, 2017 at 16:44 | Tsvetana Paraskova

The Norwegian Petroleum Directorate said on Friday that it had granted two new drilling permits, one to Statoil to drill in the Barents Sea and another to Aker BP to…

Gunvor Talked To Rivals To Potentially Sell Itself

Gunvor Talked To Rivals To Potentially Sell Itself

Apr 07, 2017 at 16:35 | Tsvetana Paraskova

One of the top global oil traders, Gunvor Group, has approached at least two competitors to discuss the possibility of selling the entire company, The Wall Street Journal reported on…

Trump To Give Oil Companies Access To Offshore Drilling

Trump To Give Oil Companies Access To Offshore Drilling

Apr 07, 2017 at 13:21 | Irina Slav

President Donald Trump is working on an executive order that will open the waters around the U.S. coast to oil and gas drilling just months after President Obama effectively banned…

Russia’s Lukoil Studies Selling Ukhta Refinery, Filling Stations

Russia’s Lukoil Studies Selling Ukhta Refinery, Filling Stations

Apr 07, 2017 at 11:49 | Tsvetana Paraskova

Lukoil, Russia’s second-biggest oil producer, will discuss later this year the possible sale of its Ukhta refinery and one-third of its filling stations in Russia, according to Vladimir Nekrasov,…

New Player In Libya Threatens To Cut Off Oil Supply To Export Terminals

New Player In Libya Threatens To Cut Off Oil Supply To Export Terminals

Apr 07, 2017 at 10:09 | Irina Slav

A new group calling itself the Supreme Council for Oil, Gas and Water Resources in the Oases and the Basin has threatened to block the flow of crude oil from…

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