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Weak Diesel Prices Reflect Global Economic Slowdown

Weak Diesel Prices Reflect Global Economic Slowdown

Diesel fuel production has ramped…

Gold Surges Past S&P 500 in Five-Year Growth

Gold Surges Past S&P 500 in Five-Year Growth

Gold has outperformed the S&P…

News

Exxon Mobil In Talks With Petrobras For New Offshore Joint Venture

Exxon Mobil In Talks With Petrobras For New Offshore Joint Venture

Apr 05, 2017 at 16:33 | Zainab Calcuttawala

Brazil’s deepwater oil fields could be Exxon Mobil’s newest playground, according to a recent report by The Wall Street Journal. A proposed joint venture between Exxon and state-run Petrobras…

Exxon, Qatar Petroleum Sign E&P Deal To Drill Offshore Cyprus

Exxon, Qatar Petroleum Sign E&P Deal To Drill Offshore Cyprus

Apr 05, 2017 at 13:58 | Tsvetana Paraskova

ExxonMobil and Qatar Petroleum have signed an exploration and production (E&P) sharing contract with the Cyprus government and will start drilling in a block offshore Cyprus in 2018, Qatar Petroleum…

China Considers Levying Tax On Oil By-Products

China Considers Levying Tax On Oil By-Products

Apr 05, 2017 at 12:50 | Tsvetana Paraskova

China plans to start imposing consumption taxes on oil by-products such as light cycle oil and bitumen blend, which could upset the plans of traders and refineries who export such…

Egyptian Energy Companies Plan Return To Libya

Egyptian Energy Companies Plan Return To Libya

Apr 05, 2017 at 10:20 | Irina Slav

Egypt’s General Petroleum Corporation and energy sector construction company Petrojet plan to re-establish their presence in Libya, a Libyan official said yesterday, after a meeting with company representatives that also…

Buffett Bets Big On Renewables, Shuns Coal

Buffett Bets Big On Renewables, Shuns Coal

Apr 05, 2017 at 09:55 | Irina Slav

Warren Buffett’s PacifiCorp is allocating $3.5 billion for wind and solar power projects, the company said. The projects include an upgrade of 900 MW of existing wind power capacity…

Oil Prices Rise After API Reports Crude, Gasoline Draw

Oil Prices Rise After API Reports Crude, Gasoline Draw

Apr 04, 2017 at 16:25 | Julianne Geiger

The American Petroleum Institute (API) reported a draw of 1.83 million barrels in United States crude oil inventories, compared to analyst expectations that domestic supplies would see a smaller…

Impending Jones Act Changes Could Cause Significant Job Losses In Oil & Gas

Impending Jones Act Changes Could Cause Significant Job Losses In Oil & Gas

Apr 04, 2017 at 14:37 | Zainab Calcuttawala

A new report from the American Petroleum Institute (API) on Monday predicted significant and damaging impacts from the Customs and Border Protection Agency’s (CBP) 30 proposed revisions on the…

Nigeria’s Oil Output Plunges By More Than 200,000 Bpd In March

Nigeria’s Oil Output Plunges By More Than 200,000 Bpd In March

Apr 04, 2017 at 14:12 | Tsvetana Paraskova

Nigeria’s output of crude oil and condensate averaged 1.676 million bpd in March, down by more than 200,000 bpd compared to the February average production of 1.9 million bpd,

Gazprom Considers Moving EU Trading Arm Out Of UK Post-Brexit

Gazprom Considers Moving EU Trading Arm Out Of UK Post-Brexit

Apr 04, 2017 at 13:19 | Tsvetana Paraskova

Russia’s gas giant Gazprom is reviewing how a potential ‘hard’ Brexit would impact its EU gas trading business which is currently carrying out in London, and whether it would affect…

Mexico’s U.S. Oil Sales Benefit From Canadian Outage, OPEC Cuts

Mexico’s U.S. Oil Sales Benefit From Canadian Outage, OPEC Cuts

Apr 04, 2017 at 12:40 | Tsvetana Paraskova

As some supply disruption from Canada’s heavy crude oil supply to the U.S. is coinciding with reduced shipment to the U.S. from OPEC, analysts say that Gulf Coast refineries are…

Nigeria Tanker Driver Strike Ends Quickly

Nigeria Tanker Driver Strike Ends Quickly

Apr 04, 2017 at 11:16 | Irina Slav

The strike called by oil tanker drivers in Nigeria yesterday ended just hours after it began, as the government quickly agreed to improve their wages and address their other grievances,…

Transneft Ready To Send 24M Tons Of Crude To Belarus

Transneft Ready To Send 24M Tons Of Crude To Belarus

Apr 04, 2017 at 09:44 | Irina Slav

Russia’s pipeline giant Transneft has enough capacity to export 24 million tons of crude oil to Belarus this year, a company official told Reuters today, after yesterday Moscow and Minsk…

Platts Sees Gulf of Mexico Oil Output At 1.87 M Bpd by Year-End

Platts Sees Gulf of Mexico Oil Output At 1.87 M Bpd by Year-End

Apr 04, 2017 at 08:52 | Irina Slav

Platts Analytics Bentek Energy has forecasted that crude oil output in the U.S. part of the Gulf of Mexico will reach 1.868 million barrels daily by the end of…

Brazil Reports 14.6% Jump In February Oil Output YoY

Brazil Reports 14.6% Jump In February Oil Output YoY

Apr 03, 2017 at 16:47 | Zainab Calcuttawala

Brazilian oil output in February was 14.6 percent higher year-over-year, according to the latest data released by ANP, the South American country’s petroleum regulator. February production touched 2.676 million…

Oil Tanker Strike Threatens Nigeria’s Oil Industry

Oil Tanker Strike Threatens Nigeria’s Oil Industry

Apr 03, 2017 at 16:40 | Zainab Calcuttawala

Low wages and subpar roads led Nigerian oil truck drivers to protest in the capital on Monday, according to a new report by Reuters, which could lead to indefinite supply…

Tesla Shares Reach All-Time High As Production Records Set

Tesla Shares Reach All-Time High As Production Records Set

Apr 03, 2017 at 16:18 | Zainab Calcuttawala

Tesla shares reached an all-time high topping $292 each on Monday, after the release of a report showing a 69 percent increase in electric car deliveries compared to a year…

EU, Israel Agree To Develop Eastern Mediterranean Gas Pipeline

EU, Israel Agree To Develop Eastern Mediterranean Gas Pipeline

Apr 03, 2017 at 13:03 | Tsvetana Paraskova

Three Mediterranean EU countries and Israel agreed on Monday to continue pursuing the development of a gas pipeline project that could link gas fields offshore Israel to Cyprus, Greece, and…

Qatar To Boost Gas Output To Keep Top LNG Exporter Status

Qatar To Boost Gas Output To Keep Top LNG Exporter Status

Apr 03, 2017 at 12:39 | Tsvetana Paraskova

Qatar is lifting a self-imposed moratorium on the development of its part of the world’s biggest natural gas field and is launching a new gas project at North Field in…

Rosneft Starts Drilling In East Arctic

Rosneft Starts Drilling In East Arctic

Apr 03, 2017 at 12:03 | Tsvetana Paraskova

Russian oil giant Rosneft on Monday launched drilling of Russia’s northernmost offshore well in the East Arctic shelf, with a video conference at which Russian President Vladimir Putin announced…

Petronas Loads First-Ever LNG Cargo From Floating Facility

Petronas Loads First-Ever LNG Cargo From Floating Facility

Apr 03, 2017 at 10:36 | Irina Slav

Malaysia’s state oil and gas company Petronas announced the loading of the first liquefied natural gas cargo from a floating production facility over the weekend. The facility is located off…

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