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Breaking News:

Kenya and Uganda End Oil Imports Dispute

Texas Takes a Stand Against the Radical ESG Agenda

Texas Takes a Stand Against the Radical ESG Agenda

Texas has barred state entities,…

AI Surge Has Big Tech Scrambling for Power Supply

AI Surge Has Big Tech Scrambling for Power Supply

U.S. utilities are struggling to…

News

PwC Advising Saudis On $20B In Cut Projects

PwC Advising Saudis On $20B In Cut Projects

Jan 10, 2017 at 13:27 | Tsvetana Paraskova

PricewaterhouseCoopers is advising Saudi Arabia on US$20 billion worth of projects it could cancel in order to reduce the budget deficit it had amassed with the low oil prices of…

Oil Downturn Shrinks Texas 2018-19 Spend By 2.7%

Oil Downturn Shrinks Texas 2018-19 Spend By 2.7%

Jan 10, 2017 at 11:35 | Tsvetana Paraskova

Texas is expected to have around US$104.9 billion in revenue available for general-purpose spending in 2018 and 2019, down by 2.7 percent compared to the 2016-2017 period, Texas Comptroller Glenn…

Iran Close To Hitting 4-Million-Bpd Output Target

Iran Close To Hitting 4-Million-Bpd Output Target

Jan 10, 2017 at 09:57 | Irina Slav

When Saudi Arabia initiated the latest OPEC discussion about an oil production cut, Iran insisted that it would only consider joining market rebalancing efforts when it reached a daily output…

U.S., Cuba Seal Oil Spill Prevention Deal, More to Come

U.S., Cuba Seal Oil Spill Prevention Deal, More to Come

Jan 10, 2017 at 09:23 | Irina Slav

The United States and Cuba have signed an agreement to team up on preventing, containing and cleaning up oil spills in their respective areas of the Gulf of Mexico,…

‘’2017 E&P Spend To Rise For First Time In Three Years’’

‘’2017 E&P Spend To Rise For First Time In Three Years’’

Jan 09, 2017 at 18:08 | Tsvetana Paraskova

Following a couple of years of reduced exploration and production (E&P) investments, spending by global oil and gas companies is expected to increase by 7 percent in 2017, for the…

Google’s Waymo To Release Its First Fleet Of Self-Driving Minivans

Google’s Waymo To Release Its First Fleet Of Self-Driving Minivans

Jan 09, 2017 at 17:47 | Julianne Geiger

Waymo’s first fleet of self-driving Chrysler Pacific minivans will hit public roads later this month, according to an announcement made at Detroit’s North American International Auto Show on Sunday. Waymo,…

Rosneft Seeks To Pull Out Of Its Only Project In Algeria

Rosneft Seeks To Pull Out Of Its Only Project In Algeria

Jan 09, 2017 at 16:33 | Tsvetana Paraskova

Rosneft may soon withdraw from its only project in Algeria, an exploration project which Russia’s oil giant considers to have doubtful prospects, Russian business daily Kommersant reported on Monday,…

Amid OPEC Cuts, Iraq Maintains February Crude Supply To 3 Buyers

Amid OPEC Cuts, Iraq Maintains February Crude Supply To 3 Buyers

Jan 09, 2017 at 14:38 | Tsvetana Paraskova

Iraq has not cut February crude supply allocations of the Basra grade to three buyers in Asia and Europe, in a sign that OPEC’s no.2 producer could keep exports at…

East Timor, Australia Scrap Oil, Gas Treaty Amid Boundary, Espionage Row

East Timor, Australia Scrap Oil, Gas Treaty Amid Boundary, Espionage Row

Jan 09, 2017 at 13:33 | Tsvetana Paraskova

Australia and East Timor have agreed to tear up a temporary treaty regulating maritime boundaries in the latest development in a long-standing dispute that has involved sea boundary claims, oil…

Argentina To Scrap Oil Product Export Duty

Argentina To Scrap Oil Product Export Duty

Jan 09, 2017 at 12:26 | Irina Slav

Argentina will remove a duty on oil product exports that has been in place for 15 years in a bid to encourage more foreign oil and gas investments, according…

Naftogaz Expects Gas Supply “Provocations” From Gazprom

Naftogaz Expects Gas Supply “Provocations” From Gazprom

Jan 09, 2017 at 10:51 | Irina Slav

Ukraine’s state-owned oil and gas company Naftogaz said in a Facebook statement it expected foul play from Gazprom regarding the transit of Russian gas via Ukraine to Europe. According…

North Sea Field Decommissioning Comes At A Hefty Price

North Sea Field Decommissioning Comes At A Hefty Price

Jan 09, 2017 at 10:40 | Irina Slav

The decommissioning of depleting oil and gas fields in the North Sea will have a price tag of US$29 billion (24 billion pounds) for UK’s taxpayers, which may very well…

Angola Cuts Supply As Part Of OPEC Deal

Angola Cuts Supply As Part Of OPEC Deal

Jan 09, 2017 at 09:43 | Tsvetana Paraskova

Angola has become the latest OPEC member to announce the beginning of production cuts as part of the cartel’s deal to curtail production in a bid to lift oil prices.…

Kuwait Slashes Oil Production To 2.707M BPD On OPEC Accord

Kuwait Slashes Oil Production To 2.707M BPD On OPEC Accord

Jan 06, 2017 at 16:53 | Charles Kennedy

Kuwaiti officials say the OPEC-member country has reduced oil production this month to around 2.707 million barrels per day, in line with the targeted amount under the OPEC output cut…

Republican Senator Says ‘No’ To Tearing Up Iran Nuclear Deal

Republican Senator Says ‘No’ To Tearing Up Iran Nuclear Deal

Jan 06, 2017 at 16:38 | Charles Kennedy

Senate Foreign Relations Committee Republican Chair Bob Corker says President-elect Donald Trump should not and would not reverse the nuclear deal with Iran. Speaking to journalists on Friday, Senator…

Libyan PFG Relinquishes Control Of Major Refinery

Libyan PFG Relinquishes Control Of Major Refinery

Jan 06, 2017 at 14:28 | Irina Slav

Following accusations of fuel smuggling from the chairman of Libya’s National Oil Corporation (NOC), the Petroleum Facilities Guard (PFG) has removed itself from the Zawiya refinery, Libyan media report,…

South Sudan Says Unity Oilfield Production To Resume Soon

South Sudan Says Unity Oilfield Production To Resume Soon

Jan 06, 2017 at 14:19 | Tsvetana Paraskova

South Sudan will restart crude oil production from oilfields in the Unity state within two months, which could potentially derail OPEC and non-cartel producers’ deal to curtail global supply in…

Trump’s Energy Dept Pick Perry Quits Oil Company Board

Trump’s Energy Dept Pick Perry Quits Oil Company Board

Jan 06, 2017 at 12:22 | Tsvetana Paraskova

Former Texas Gov. Rick Perry, who is Donald Trump’s nominee for Energy Secretary, has resigned from the board of directors of Energy Transfer Partners, the company building the highly-contested…

Yemen To Export First Crude Since August

Yemen To Export First Crude Since August

Jan 06, 2017 at 12:13 | Irina Slav

Yemen may export its first crude oil shipment since August later this month, according to fixture list data showing Glencore has booked an oil tanker, to dock in Yemen…

Gulf Of Mexico Platform Fire Put Out, Production Shut-In

Gulf Of Mexico Platform Fire Put Out, Production Shut-In

Jan 06, 2017 at 09:42 | Irina Slav

The fire on a Gulf of Mexico platform off the Louisiana coast has been put out and no pollution has been detected, the U.S. Coast Guard said, as quoted…

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