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News

Colorado Sues Boulder Over Oil Ban

Colorado Sues Boulder Over Oil Ban

Feb 15, 2017 at 10:26 | Irina Slav

Cynthia Coffman, the Attorney General of Colorado, has filed a lawsuit against Boulder County, following weeks of threats over the county’s refusal to remove a moratorium on oil and…

Japan’s Tepco To Issue First Bond Since Fukushima Disaster

Japan’s Tepco To Issue First Bond Since Fukushima Disaster

Feb 15, 2017 at 09:36 | Tsvetana Paraskova

In its first bond sale since the Fukushima nuclear tragedy in 2011, Tokyo Electric Power Co (Tepco) has filed plans to issue US$612 million (70 billion yen) worth of bonds,…

Oil Slips After API Reports Strong Build To Crude Inventories

Oil Slips After API Reports Strong Build To Crude Inventories

Feb 14, 2017 at 16:36 | Julianne Geiger

U.S. crude oil inventories increased yet again by 9.94 million barrels, according to this week’s American Petroleum Institute (API) inventory report published on Tuesday afternoon, reminding OPEC that its cuts…

China Boosts Russian Oil Imports As Brent/Dubai Spread Shrinks

China Boosts Russian Oil Imports As Brent/Dubai Spread Shrinks

Feb 14, 2017 at 15:15 | Tsvetana Paraskova

Oilfield Services Rush To Raise Capital As Oil Recovery HoldsChina’s independent refiners, the so-called teapots, are importing Russia’s Urals grade with the drop in the Brent/Middle East spreads as OPEC’s…

Syrian Regime Regains Control Of Key Gas Field

Syrian Regime Regains Control Of Key Gas Field

Feb 14, 2017 at 14:33 | Damir Kaletovic

The Islamic State has reportedly lost control of the Hayan natural gas field in Syria’s central province of Homs following a Syrian army operation to retake the strategic oil…

Egypt To Draft Schedule To Pay $3.5B Dues To Oil Firms

Egypt To Draft Schedule To Pay $3.5B Dues To Oil Firms

Feb 14, 2017 at 13:29 | Tsvetana Paraskova

Egypt expects to soon draft a repayment schedule to pay US$3.5 billion in arrears it owes to foreign oil and gas companies, Egyptian Petroleum Minister Tarek El Molla said on…

Shell Splashes $1B On Niger Delta Development

Shell Splashes $1B On Niger Delta Development

Feb 14, 2017 at 12:46 | Irina Slav

Shell’s Nigerian subsidiary has committed US$1 billion for the development of the Niger Delta, the Vice President of the federal government, Yemi Osinbajo, said. Osinbajo is on a tour…

Libya Arrests Oil Executives For Alleged Offshore Fraud

Libya Arrests Oil Executives For Alleged Offshore Fraud

Feb 14, 2017 at 12:28 | Damir Kaletovic

Just as Libya loads its first tanker from a new floating storage platform in the offshore Bouri oilfield, authorities have detained four senior oil executives over fraud related to the…

Ukraine Not To Import Russian Electricity Despite Coal Shortage

Ukraine Not To Import Russian Electricity Despite Coal Shortage

Feb 14, 2017 at 11:33 | Tsvetana Paraskova

Despite the current coal shortage that threatens to disrupt Ukraine’s power generation, the country will not import electricity from Russia, Ukraine’s Energy and Coal Industry Minister Ihor Nasalyk said on…

Higher Oil Price Pushes UK Inflation To Two-Year High

Higher Oil Price Pushes UK Inflation To Two-Year High

Feb 14, 2017 at 09:25 | Irina Slav

Inflation in the UK in January rose at the fastest rate since June 2014 on the back of higher oil prices resulting from the OPEC-non-OPEC agreement to cut output.…

U.S. Judge Denies Native American Request To Halt Construction As Anti-DAPL Laws

U.S. Judge Denies Native American Request To Halt Construction As Anti-DAPL Laws

Feb 13, 2017 at 17:02 | Zainab Calcuttawala

A federal judge refused a request by Native American tribes objecting to the construction of the last portion of the Dakota Access Pipeline on Monday, according to emerging reports on…

U.S. D.O.E. Finds Renewables Employed More Americans Than Oil and in Gas in 2016

U.S. D.O.E. Finds Renewables Employed More Americans Than Oil and in Gas in 2016

Feb 13, 2017 at 16:49 | Zainab Calcuttawala

A new report by the United States Department of Energy concludes that American renewable energy firms are creating more jobs than their fossil fuel counterparts.…

Kuwait Oil Minister: Non-OPEC Compliance To Cuts At 50 Percent

Kuwait Oil Minister: Non-OPEC Compliance To Cuts At 50 Percent

Feb 13, 2017 at 16:37 | Tsvetana Paraskova

While OPEC producers are boasting an unusually high initial 90 percent plus compliance to the oil output cuts, the non-OPEC nations that have joined the global deal to curb oil…

Trump’s ‘Buy American’ Pipes Push May Not Be Feasible

Trump’s ‘Buy American’ Pipes Push May Not Be Feasible

Feb 13, 2017 at 15:35 | Tsvetana Paraskova

President Trump’s desire that pipelines in the U.S. buy American iron and steel products may run into international trade law violations, and have a yet-unpredictable impact on costs and prices…

China Set To Resume Work On Nuclear Power Plants

China Set To Resume Work On Nuclear Power Plants

Feb 13, 2017 at 14:26 | Tsvetana Paraskova

In order to cater to growing power demand, China is likely to begin construction on inland nuclear reactors in the next four years, resuming plans for nuclear power plants that…

Ukraine May Declare Energy Emergency Over Coal Shortage

Ukraine May Declare Energy Emergency Over Coal Shortage

Feb 13, 2017 at 13:10 | Tsvetana Paraskova

Ukraine’s government is considering declaring a state of emergency in the energy sector due to severe shortage of coal deliveries from the conflict-torn Donbas region, which produces a large part…

Novak: We’ll Decide On Oil Output Cut Extension In Spring

Novak: We’ll Decide On Oil Output Cut Extension In Spring

Feb 13, 2017 at 12:06 | Irina Slav

Russia’s Energy Minister Alexander Novak said the decision on whether the crude oil production cut agreement with OPEC needs to be extended beyond its June 30 expiration date will…

Iraq Reduces Exports From Basra Terminal

Iraq Reduces Exports From Basra Terminal

Feb 13, 2017 at 11:58 | Irina Slav

Iraq will reduce the amount of crude oil it exports via its largest port terminal in Basra to 3.013 million bpd next month, according to loading data seen by…

Aramco Strikes Oil Delivery Deal With Chinese Refiner

Aramco Strikes Oil Delivery Deal With Chinese Refiner

Feb 13, 2017 at 09:39 | Irina Slav

Saudi Aramco will deliver crude oil to Chinese refiner Huajin Chemical Industries under a new deal—a first for the two companies, sources in the know told Reuters. Aramco will…

IEA Tracks 40 Percent Compliance Rate For Non-OPEC Deal Participants

IEA Tracks 40 Percent Compliance Rate For Non-OPEC Deal Participants

Feb 10, 2017 at 16:38 | Zainab Calcuttawala

Two anonymous OPEC sources say that eleven of the non-OPEC nations that are part of the oil output reduction deal struck at the end of November have only made 40…

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