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News

TransCanada’s LNG Pipeline Project Hits Legal Setback

TransCanada’s LNG Pipeline Project Hits Legal Setback

Jul 21, 2017 at 12:50 | Tsvetana Paraskova

Canada’s federal court of appeal has sent TransCanada’s proposed gas back for redetermination by the National Energy Board (NEB), which had previously dismissed requests that the project be subject to…

OPEC Sees July Oil Output Increase By 145,000 Bpd

OPEC Sees July Oil Output Increase By 145,000 Bpd

Jul 21, 2017 at 12:44 | Tsvetana Paraskova

OPEC’s crude oil production is expected to increase by another 145,000 barrels per day in July over June, driven by higher production in Saudi Arabia, Nigeria, and the UAE, Reuters…

Ban On Venezuela Oil Imports Could Hurt U.S. Refiners

Ban On Venezuela Oil Imports Could Hurt U.S. Refiners

Jul 21, 2017 at 10:36 | Irina Slav

If the U.S. administration decides to impose sanctions on Venezuela that include a ban on crude oil imports from the South American country, refiners on the Gulf Coast might pay…

Rosneft Aims To Dump Citgo Stake As U.S. Sanctions Loom

Rosneft Aims To Dump Citgo Stake As U.S. Sanctions Loom

Jul 21, 2017 at 09:16 | Irina Slav

Rosneft and PDVSA are negotiating the swap of the 49-percent stake in Citgo that the Russian company holds as loan collateral for a number of other assets and products, sources…

African Petroleum Reshuffles West Africa Strategy

African Petroleum Reshuffles West Africa Strategy

Jul 20, 2017 at 17:44 | Zainab Calcuttawala

Oil E&P African Petroleum allowed the exclusivity of its offshore exploration contract with Gambia and Senegal to lapse in order to pursue future involvement in the area’s development, according…

Oil Thieves Force Nigerian Pumping Station To Shutter

Oil Thieves Force Nigerian Pumping Station To Shutter

Jul 20, 2017 at 17:40 | Zainab Calcuttawala

Oil thieves are bringing Nigerian crude oil pumping stations to their knees, according to a new report from World Oil. The 60,000-barrel per day Agbada 2 flow station run…

Poll: 55% Of Americans Back Higher Federal Gas Tax To Help Fix Roads

Poll: 55% Of Americans Back Higher Federal Gas Tax To Help Fix Roads

Jul 20, 2017 at 16:03 | Tsvetana Paraskova

More than half of Americans, 55 percent, would support an increase in the federal gas tax—which has not seen an increase since 1993—to help fix infrastructure in their own states,…

Natural Gas Prices Up Slighting After Lower Than Expected Storage Build

Natural Gas Prices Up Slighting After Lower Than Expected Storage Build

Jul 20, 2017 at 14:36 | Tsvetana Paraskova

Working gas in underground storage in the Lower 48 states increased by 28 billion cubic feet (Bcf) in the week to July 14, the EIA said on Thursday, but…

South Korea To Ease Oil Terminal Rules In Bid To Become Trading Hub

South Korea To Ease Oil Terminal Rules In Bid To Become Trading Hub

Jul 20, 2017 at 14:31 | Tsvetana Paraskova

South Korea is set to ease restrictions for international oil traders to blend fuels at the country’s oil storage terminals in its attempt to become a trading hub in Northeast…

Aramco May Have To Buy Out $1 Billion Refinery Partner

Aramco May Have To Buy Out $1 Billion Refinery Partner

Jul 20, 2017 at 14:06 | Irina Slav

Saudi Aramco may have to buy out its 30-percent partner in Saudi Aramco Base Oil Co, Jadwa Investment Co., as the latter is seeking to exit the venture, sources close…

BP Reportedly Approached Potential Buyers Of Some North Sea Assets

BP Reportedly Approached Potential Buyers Of Some North Sea Assets

Jul 20, 2017 at 13:05 | Tsvetana Paraskova

BP has contacted possible buyers of oil and gas assets that it holds in the North Sea, The Wall Street Journal reported on Thursday, citing people familiar with the…

Brazil Seeks To Lure Oil Investors With Lower Royalties

Brazil Seeks To Lure Oil Investors With Lower Royalties

Jul 20, 2017 at 10:29 | Irina Slav

Brazil’s oil industry regulator ANP has released the model contract for the next round of oil bids, seeking to motivate bidders with lower royalties and the removal of local…

Investments In Nigerian Oil Played Part In Becker’s Bankruptcy

Investments In Nigerian Oil Played Part In Becker’s Bankruptcy

Jul 20, 2017 at 09:11 | Irina Slav

Unsuccessful investments in the Nigerian oil industry may have had a part to play in tennis legend Boris Becker’s recent bankruptcy, according to documents from the sports whistleblowing website

Indian Cabinet Backs Plan To Create State Oil Giant

Indian Cabinet Backs Plan To Create State Oil Giant

Jul 19, 2017 at 17:32 | Zainab Calcuttawala

State refiner Hindustan Petroleum Corp. will be allowed to sell a $4.6 billion stake of itself to India’s largest fossil fuel explorer and producer, according to a new report…

India’s State Refiners To Import Less Iranian Oil In 2017/18

India’s State Refiners To Import Less Iranian Oil In 2017/18

Jul 19, 2017 at 17:06 | Tsvetana Paraskova

India’s government-run refiners plan to import less Iranian crude oil in the 2017/2018 fiscal year ending March 2018, than the crude from Iran they bought in the previous fiscal…

Saudi-Led Bloc Eases Up On Qatari Demands

Saudi-Led Bloc Eases Up On Qatari Demands

Jul 19, 2017 at 17:03 | Tsvetana Paraskova

Diplomats from the four Arab countries that are leading the boycott against Qatar have signaled that the Saudi-led bloc is no longer demanding that Qatar comply with a list of…

BP, Total, YPF To Invest $1.15B In Argentina’s Vaca Muerta Shale

BP, Total, YPF To Invest $1.15B In Argentina’s Vaca Muerta Shale

Jul 19, 2017 at 15:29 | Tsvetana Paraskova

A BP unit and subsidiaries of France’s Total and Germany’s Wintershall have signed an investment agreement with Argentina’s state-run oil company YPF to jointly invest US$1.15 billion in the Vaca…

Saudi Men On Trial For Allegedly Plotting Oil Pipeline Attack

Saudi Men On Trial For Allegedly Plotting Oil Pipeline Attack

Jul 19, 2017 at 12:10 | Tsvetana Paraskova

Two Saudi teachers are standing trial in Saudi Arabia on charges that they have allegedly spied for arch-rival Iran in gathering information about a 5-million-bpd oil pipeline for the purposes…

Oman Oil To Take $1B In Loans

Oman Oil To Take $1B In Loans

Jul 19, 2017 at 10:57 | Tsvetana Paraskova

Oman’s state energy firm Oman Oil expects to close a pre-export financing (PXF) loan worth some US$1 billion within the next two months, Reuters reported on Wednesday, citing a…

BP May Spin Off Midstream U.S. Assets

BP May Spin Off Midstream U.S. Assets

Jul 19, 2017 at 09:37 | Irina Slav

BP is considering a restructuring of its oil, gas, and petroleum product business in the U.S. that would involve the spin-off of some of the company’s pipelines there, media

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