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The Rise and Fall of Master Limited Partnerships

The Rise and Fall of Master Limited Partnerships

Master limited partnerships (MLPs) were…

The Oil Price Rally Has Stalled... For Now.

The Oil Price Rally Has Stalled... For Now.

Oil prices have been climbing…

News

Weatherford Slashes Another 3,000 Jobs

Weatherford Slashes Another 3,000 Jobs

Feb 02, 2017 at 17:54 | Tsvetana Paraskova

As part of its strategy to further cut costs and reduce debt, oilfield services company Weatherford International (NYSE:WFT) said on Thursday that it had launched another head count reduction…

Shell To Sell Another $5B In Assets, Misses Profit Expectations

Shell To Sell Another $5B In Assets, Misses Profit Expectations

Feb 02, 2017 at 15:03 | Tsvetana Paraskova

Royal Dutch Shell (NYSE:RDS.A) is making “significant progress” on selling another US$5 billion worth of assets, chief financial officer Simon Henry said on Thursday after the oil supermajor…

Saudi Minister Stokes Investor Interest Ahead Of Aramco IPO

Saudi Minister Stokes Investor Interest Ahead Of Aramco IPO

Feb 02, 2017 at 14:01 | Irina Slav

Saudi Arabia’s Oil Minister Khalid al-Falih said Aramco will publish annual financial figures before its listing next year. The statement is the latest in a string of news regarding…

Another Win For Big Oil: House Removes Transparency Rule

Another Win For Big Oil: House Removes Transparency Rule

Feb 02, 2017 at 09:06 | Irina Slav

The Republican-dominated House of Representatives yesterday moved to repeal a rule that requires oil companies to report on their payments to foreign governments, including taxes and royalties from their…

Black Sea Incident Risks Russia-Ukraine Conflict Tension

Black Sea Incident Risks Russia-Ukraine Conflict Tension

Feb 01, 2017 at 18:06 | Damir Kaletovic

A Ukrainian military plane has reportedly made two low passes over Russian oil rigs in the Black Sea, with Russia calling the incident a clear provocation, and Ukraine claiming that…

Megadeals Boost Global Oil, Gas Transactions To $395B In 2016

Megadeals Boost Global Oil, Gas Transactions To $395B In 2016

Feb 01, 2017 at 17:58 | Tsvetana Paraskova

Although the volume of global oil and gas transactions dropped last year, the deals’ total value rose to US$395 billion from US$340 billion in 2015, thanks to megadeals in the…

Toshiba To Exit Nuclear Plant Construction Business

Toshiba To Exit Nuclear Plant Construction Business

Feb 01, 2017 at 17:13 | Irina Slav

Toshiba is preparing to put an end to its nuclear power plant construction business as part of damage control measures following a huge write-off on its U.S. nuclear operations. This…

Saudis May Raise U.S. Investments On Pro-Oil Trump Policies

Saudis May Raise U.S. Investments On Pro-Oil Trump Policies

Feb 01, 2017 at 17:07 | Tsvetana Paraskova

Saudi Arabia may increase its investments in refining and distribution in the U.S. under the new pro-oil Administration, Saudi Oil Minister Khalid al-Falih said in an interview with the…

India Extends Tax Break On Foreign Firms’ Oil Sales

India Extends Tax Break On Foreign Firms’ Oil Sales

Feb 01, 2017 at 16:47 | Tsvetana Paraskova

India is exempting foreign companies from income tax when they sell oil locally at the end of a contract for strategic storage with the government, under the 2017-18 budget proposals…

CVR Energy Shareholders Get Windfall from Trump Election

CVR Energy Shareholders Get Windfall from Trump Election

Feb 01, 2017 at 11:33 | Irina Slav

The shares of oil refining company CVR Energy have almost doubled in value since the U.S. presidential elections, with a major boost for the stock coming from the naming…

These Factors Are Holding Back An Oil Price Rally

These Factors Are Holding Back An Oil Price Rally

Feb 01, 2017 at 10:19 | Todd Royal

Ever since OPEC announced their production cuts the markets have hit irrational exuberance without examining the factors for why oil isn’t rising anywhere near pre-crash levels. Moreover, there are eleven…

Lebanon To Put Future Oil Money In Sovereign Wealth Fund

Lebanon To Put Future Oil Money In Sovereign Wealth Fund

Feb 01, 2017 at 09:43 | Damir Kaletovic

Lebanon will place all future oil revenues in a sovereign wealth fund (SWF) to invest in development projects, President Michel Aoun said, referring to hoped-for oil wealth as the country…

U.S. Petroleum Trade With Latin America Flips To Surplus For First Time Ever

U.S. Petroleum Trade With Latin America Flips To Surplus For First Time Ever

Feb 01, 2017 at 09:21 | Tsvetana Paraskova

In a change of trade patterns, the United States booked a surplus in its trade of crude oil and refined products with Latin America for the first time since records…

API Reports Big Inventory Build Across The Board

API Reports Big Inventory Build Across The Board

Jan 31, 2017 at 16:24 | Julianne Geiger

U.S. crude oil inventories increased by 5.8 million barrels, according to this week’s American Petroleum Institute (API) inventory report published on Tuesday afternoon, compounded by large builds—again—in both gasoline…

Oman Oil Company To Invest $1B In Oil, Gas Projects In 2017

Oman Oil Company To Invest $1B In Oil, Gas Projects In 2017

Jan 31, 2017 at 16:14 | Tsvetana Paraskova

State-held Oman Oil Company plans to invest US$1 billion in developing various upstream and downstream projects in Oman this year, the firm’s chief executive Isam Al Zadjali said on…

West Africa Oil Exports To Asia Surge To Fill In OPEC Supply Gap

West Africa Oil Exports To Asia Surge To Fill In OPEC Supply Gap

Jan 31, 2017 at 16:08 | Tsvetana Paraskova

West Africa is becoming the latest oil exporting region to take advantage of the OPEC supply-cut deal and ship increased volumes of crude to the world’s highest-demand market: Asia. According…

Venezuelan State-Oil Firm Poised For Default

Venezuelan State-Oil Firm Poised For Default

Jan 31, 2017 at 15:55 | Damir Kaletovic

Venezuelan state-run oil company PDVSA’s default is probable, according to rating’s agency Fitch, as the country struggles with the long-running drop in oil prices—its only source of export revenue.…

Exxon Misses Q4 Estimates On Low Prices

Exxon Misses Q4 Estimates On Low Prices

Jan 31, 2017 at 11:34 | Tsvetana Paraskova

After Chevron badly missed on its Q4 last Friday, another oil supermajor missed analysts estimates today: ExxonMobil Corporation (NYSE:XOM) reported fourth-quarter earnings below analyst expectations and cited…

Iran Oil Minister Says “No Ban on U.S. Oil Firms”

Iran Oil Minister Says “No Ban on U.S. Oil Firms”

Jan 31, 2017 at 09:20 | Irina Slav

Iran’s Oil Minister Bijan Zanganeh has said that U.S. oil companies willing to do business in Iran will not be banned from doing so. The remark, quoted by local…

Two Months Of Attacks In Syria Cost Oil Sector $2B

Two Months Of Attacks In Syria Cost Oil Sector $2B

Jan 30, 2017 at 23:07 | Damir Kaletovic

Syrian Prime Minister Imad Khamis has claimed that terrorist attacks during the last two months have cost the country’s oil sector US$2 billion. Khamis said the Syrian government was…

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