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News

LNA Tries To Push Back Benghazi Attackers From Oil Terminals

LNA Tries To Push Back Benghazi Attackers From Oil Terminals

Mar 06, 2017 at 10:52 | Irina Slav

The Libyan National Army led by Khalifa Haftar is bombing positions of the Benghazi Defense Brigades, which tried to push the LNA out of two key oil export terminals in…

Texas Oil Companies Exposed To Major Cyber Threat

Texas Oil Companies Exposed To Major Cyber Threat

Mar 06, 2017 at 10:20 | Irina Slav

Oil and gas companies operating in Texas, and especially those concentrated around Houston, are exposed to major cybersecurity threats as the sheer size of operations and the growing digitalization of…

Keystone XL Faces “No Obstacles” From Trump White House

Keystone XL Faces “No Obstacles” From Trump White House

Mar 03, 2017 at 16:30 | Zainab Calcuttawala

The controversial Keystone XL pipeline no longer faces major administrative obstacles to its construction from the United States’ end, according to the Canadian ambassador to Washington D.C. Talks with U.S.…

Exxon to Invest $5 Billion in Guyana Extraction Venture

Exxon to Invest $5 Billion in Guyana Extraction Venture

Mar 03, 2017 at 14:30 | Zainab Calcuttawala

ExxonMobil will invest $5 billion in Guyana for an oil production and extraction venture in the Liza area of the Stabroek offshore drilling block with first profits expected by…

Escalating Clashes Near Es Sider Port Cause Evacuation To Ras Lanuf

Escalating Clashes Near Es Sider Port Cause Evacuation To Ras Lanuf

Mar 03, 2017 at 14:18 | Zainab Calcuttawala

Fighting near Es Sider port escalated to the point that workers had be evacuated from the Libyan oil export station, according to reports emerging from the area. The head of…

Is The Glut Easing? Vitol Offering 4 Million Barrels Of Stored Oil

Is The Glut Easing? Vitol Offering 4 Million Barrels Of Stored Oil

Mar 03, 2017 at 13:16 | Tsvetana Paraskova

In a sign that the huge global oversupply may be starting to clear, commodity trading giant Vitol Group is offering to ship to Europe 4 million barrels of Nigerian crude…

Engine Efficiency Seen Leading To U.S. Gasoline Demand Peak In 2018

Engine Efficiency Seen Leading To U.S. Gasoline Demand Peak In 2018

Mar 03, 2017 at 13:06 | Tsvetana Paraskova

Gasoline demand in the U.S. is expected to peak next year due to continuous engine efficiency gains, Reuters reports, quoting analysts at energy consultancy Wood Mackenzie. Demand for gasoline…

Brazil’s Crude Oil Exports Sets Yet Another Record

Brazil’s Crude Oil Exports Sets Yet Another Record

Mar 03, 2017 at 11:49 | Tsvetana Paraskova

Brazil’s oil exports jumped by 94 percent on the year in February, beating the previous record from January, as new offshore production is consistently coming on stream, according to…

EPA Scraps Methane Emission Reporting Rule

EPA Scraps Methane Emission Reporting Rule

Mar 03, 2017 at 11:39 | Irina Slav

The Environmental Protection Agency has removed an Obama-era rule that requires oil and gas companies to report methane emissions from oilfields – a rule that had prompted complaints from…

Mexico Plans Two Annual Oil Tenders

Mexico Plans Two Annual Oil Tenders

Mar 03, 2017 at 10:45 | Irina Slav

Mexico is planning to hold two regular oil field auctions every year, beginning in 2018, aiming to stimulate more foreign energy companies and local private players to invest in…

Russia’s Oil Production Cuts Don’t Increase In February

Russia’s Oil Production Cuts Don’t Increase In February

Mar 02, 2017 at 17:18 | Zainab Calcuttawala

New figures from Moscow show that Russia is continuing to cut oil production by just a third of the amount it had promised to the members of the Organization…

North Sea Oil Production Costs Continue To Fall

North Sea Oil Production Costs Continue To Fall

Mar 02, 2017 at 17:03 | Zainab Calcuttawala

Production costs for Canadian Natural Resources in the North Sea came in around $42 per barrel—well below the current rate for a Brent barrel at $55.17—down by a third…

Yemeni Oil Reserves Under Dispute As Civil War Rages On

Yemeni Oil Reserves Under Dispute As Civil War Rages On

Mar 02, 2017 at 16:35 | Zainab Calcuttawala

A Yemeni economic expert from the region contends that French Total’s operations in the Kharkhir region amount to stealing on behalf of Saudi Arabia and ousted president Mansour Hadi –…

After Brief Interruption, Oil Begins To Flow From Kirkuk

After Brief Interruption, Oil Begins To Flow From Kirkuk

Mar 02, 2017 at 14:27 | Irina Slav

Crude oil is once again flowing from the fields around Kirkuk, after an interruption that lasted for several hours, as security forces searched the area for bombs, said to have…

Gazprom Sales To Europe, Turkey Fall In February

Gazprom Sales To Europe, Turkey Fall In February

Mar 02, 2017 at 13:41 | Tsvetana Paraskova

Gazprom’s sales of natural gas to Turkey and Europe, excluding the former Soviet Union countries, dropped to 582 million cubic meters per day in February, down by 34 million…

Israel Just Started Exporting Natural Gas…To Jordan

Israel Just Started Exporting Natural Gas…To Jordan

Mar 02, 2017 at 12:43 | Tsvetana Paraskova

Israeli firm Delek Drilling – the part of Delek Group developing Israel’s offshore gas fields – has started exporting natural gas to Jordan in what are Israel’s first gas exports…

Uganda Seeks $500M From China To Jumpstart Oil Production

Uganda Seeks $500M From China To Jumpstart Oil Production

Mar 02, 2017 at 12:17 | Tsvetana Paraskova

Uganda has requested a loan of more than US$500 million from China’s Export–Import (EXIM) Bank that it would use to build roads in its oil belt in view of a…

Kuwait Energy Seeks London Listing, Hopes For $1B Valuation

Kuwait Energy Seeks London Listing, Hopes For $1B Valuation

Mar 02, 2017 at 11:02 | Tsvetana Paraskova

Exploration and production company Kuwait Energy is working with Bank of America on an initial public offering in London that could value the Middle East-focused group at US$1 billion,

Libya Militia Seizes Turkish Tanker

Libya Militia Seizes Turkish Tanker

Mar 02, 2017 at 09:12 | Irina Slav

Six armed men have seized the Haci Telli oil tanker sailing under a Turkish flag in the Libyan port of Zuwarah, claiming that the company leasing the vessel owes…

Venezuela Is Down To Its Last $10B As Debt Payments Loom

Venezuela Is Down To Its Last $10B As Debt Payments Loom

Mar 01, 2017 at 17:14 | Zainab Calcuttawala

Venezuela’s central bank is down to its last $10.5 billion in foreign reserves, according to the institution’s most recent report on the country’s financials. Over the remainder of 2017,…

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