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Oil Moves Down on Crude Inventory Build

Oil Moves Down on Crude Inventory Build

Crude oil prices moved lower…

Iraq Hopes to Expand Economic Relationship With the U.S.

Iraq Hopes to Expand Economic Relationship With the U.S.

Sudani wants to strengthen Baghdad’s…

News

U.S. Says It Won’t ‘Take’ Iraq’s Oil As Russia Expands Influence

U.S. Says It Won’t ‘Take’ Iraq’s Oil As Russia Expands Influence

Feb 21, 2017 at 14:07 | Irina Slav

Less than a day after U.S. Defense Secretary James Mattis contradicted Trump’s oft-repeated maxim that we should have taken Iraq’s oil, Russia has moved to expand its footprint in the…

Shell Sees No Oversupply In LNG Market As New Demand Grows

Shell Sees No Oversupply In LNG Market As New Demand Grows

Feb 21, 2017 at 10:31 | Tsvetana Paraskova

Royal Dutch Shell said on Monday that rising new LNG demand is offsetting growth in supply, shrugging off concerns of oversupply on the LNG market in which the Anglo-Dutch…

Russia Tops World’s Biggest Oil Producers List

Russia Tops World’s Biggest Oil Producers List

Feb 21, 2017 at 09:53 | Irina Slav

Russia pumped the most crude oil in the world in December, dethroning Saudi Arabia as the world’s biggest oil producer. The difference in the two countries’ daily averages stood…

Saudi Officials Favor NYSE For Historic Aramco Listing

Saudi Officials Favor NYSE For Historic Aramco Listing

Feb 20, 2017 at 17:36 | Zainab Calcuttawala

The New York Stock Exchange is the favorite for the massive upcoming Saudi Aramco listing, according to a report by the Wall Street Journal on Monday. London and Toronto’s…

Iran’s South Pars Oil Field To Produce By End Of March

Iran’s South Pars Oil Field To Produce By End Of March

Feb 20, 2017 at 16:44 | Zainab Calcuttawala

The South Pars field in the Persian Gulf will begin production by the end of the fiscal year, according to Iranian Oil Minister Bijan Zanganeh, who made the confirmatory statement…

Malaysia Plans US$1 Billion Sale Of Sarawak Gas Block Stake

Malaysia Plans US$1 Billion Sale Of Sarawak Gas Block Stake

Feb 20, 2017 at 16:31 | Zainab Calcuttawala

Malaysia’s Petronas plans to sell a minority stake in an upstream gas project for a $1 billion sum to raise capital and lower the government’s cost burden, according to two…

Iran Announces 2 Billion Barrel Shale Oil Find

Iran Announces 2 Billion Barrel Shale Oil Find

Feb 20, 2017 at 15:21 | Zainab Calcuttawala

The western province of Lorestan will be getting new attention from the Iranian oil ministry following the discovery of major shale oil reserves in the region, according to new

Russneft To Raise 2017 Crude Oil Output If Market Rebalances

Russneft To Raise 2017 Crude Oil Output If Market Rebalances

Feb 20, 2017 at 14:26 | Tsvetana Paraskova

Russian oil producer Russneft (not to be confused with Rosneft) plans to raise its oil production this year by at least 2.5 percent compared to last year’s 7 million tons…

Platts To Include Norway’s Troll Crude In Brent Basket From 2018

Platts To Include Norway’s Troll Crude In Brent Basket From 2018

Feb 20, 2017 at 12:07 | Tsvetana Paraskova

S&P Global Platts said on Monday that starting from January 2018, it will include Norway’s Troll crude grade in the Brent basket—a first such addition since 2007—in a bid…

Arab-Majority Oil-Rich Iranian City Protests Power Cuts, Air Pollution

Arab-Majority Oil-Rich Iranian City Protests Power Cuts, Air Pollution

Feb 20, 2017 at 11:52 | Tsvetana Paraskova

Residents of the oil-rich Iranian city of Ahvaz with a majority Arab population have been protesting for a week over continuous power failures, air pollution, and government mismanagement. The…

Iraq’s Oil Reserves Rise To 153 Billion Barrels

Iraq’s Oil Reserves Rise To 153 Billion Barrels

Feb 20, 2017 at 10:45 | Tsvetana Paraskova

The results of appraisal and exploration in central and southern Iraq have led to increased estimate for the country’s proven oil reserves to 153 billion barrels from 143 billion barrels…

China’s CNPC Joins BP, Total In Abu Dhabi Oil Venture

China’s CNPC Joins BP, Total In Abu Dhabi Oil Venture

Feb 20, 2017 at 09:02 | Tsvetana Paraskova

Abu Dhabi National Oil Company (ADNOC) signed a deal on Sunday to award to the China National Petroleum Corporation (CNPC) an 8-percent stake in Abu Dhabi’s onshore oil concession…

Could 10,000 Wind-Powered Water Pumps Save The Arctic Cap From Melting?

Could 10,000 Wind-Powered Water Pumps Save The Arctic Cap From Melting?

Feb 17, 2017 at 17:15 | Zainab Calcuttawala

A team of scientists from Arizona State University have devised a water pumping system that would reverse the devastating effects of climate change in the Arctic ice cap, according to…

Kinder Morgan Begins Talks With Canadian Pension Funds For Trans Mountain Expans

Kinder Morgan Begins Talks With Canadian Pension Funds For Trans Mountain Expans

Feb 17, 2017 at 17:04 | Zainab Calcuttawala

Kinder Morgan has entered into talks with Canadian pension funds and private equity firms to secure financing for the US $5 billion expansion of the Trans Mountain pipeline, sources…

Amid Tension With Russia, Belarus Signs Deal With Iran

Amid Tension With Russia, Belarus Signs Deal With Iran

Feb 17, 2017 at 16:54 | Zainab Calcuttawala

This month—for the first time in the East European country’s history—Belarus signed a contract to purchase crude oil from the National Iranian Oil Company. A row between the former…

Saudis Rethink Aramco IPO: Pure Oil & Gas or Conglomerate?

Saudis Rethink Aramco IPO: Pure Oil & Gas or Conglomerate?

Feb 17, 2017 at 16:37 | Zainab Calcuttawala

Saudi Arabian officials are debating whether the country’s flagship oil and gas company, Saudi Aramco, should be listed as an industrial conglomerate or a specialized international oil company ahead of…

Uncertainty Mounts As Nigeria Appoints VP As Acting President

Uncertainty Mounts As Nigeria Appoints VP As Acting President

Feb 17, 2017 at 12:34 | Tsvetana Paraskova

The Nigerian vice-president has been named Acting President as the government moves to stem fears associated with the absence of President Muhammadu Buhari amid a struggle get oil industry corruption…

TransCanada Seeks Approval Of Keystone XL Nebraska Leg

TransCanada Seeks Approval Of Keystone XL Nebraska Leg

Feb 17, 2017 at 10:40 | Tsvetana Paraskova

TransCanada Corporation said on Thursday that it had filed an application with the Nebraska Public Service Commission (PSC) seeking approval for its Keystone XL pipeline to pass through the…

Norway’s Oil Jobs Prospects Recover

Norway’s Oil Jobs Prospects Recover

Feb 17, 2017 at 09:30 | Tsvetana Paraskova

The number of job vacancies in Norway’s oil and gas industry rose in the fourth quarter last year compared to the fourth quarter of 2015, in what could be early…

Still Not Complying With OPEC Cuts: Kuwait Boasts 2.75 Million Bpd Output

Still Not Complying With OPEC Cuts: Kuwait Boasts 2.75 Million Bpd Output

Feb 17, 2017 at 08:59 | Tsvetana Paraskova

Kuwait -- one of the strongest supporters of the Saudi-led OPEC supply-cut deal and a member of the monitoring committee on the production reduction – is boasting that its…

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