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Oil Moves Higher on Inventory Draw

Oil Moves Higher on Inventory Draw

Crude oil prices ticked higher…

Saudi Aramco Eyes Stake in Chinese Petrochemical Firm

Saudi Aramco Eyes Stake in Chinese Petrochemical Firm

Saudi Arabia’s oil giant, in…

The World's Most Polluted Countries Revealed

The World's Most Polluted Countries Revealed

The air pollution problem is…

News

API Super Bowl Ad Sparks Anger

API Super Bowl Ad Sparks Anger

Feb 06, 2017 at 09:27 | Irina Slav

A 30-second commercial for oil by the American Petroleum Institute sparked anger on social media after last night’s Super Bowl, as its message runs counter to the environmental agenda…

Iran, Trump Showdown Leads To New Sanctions

Iran, Trump Showdown Leads To New Sanctions

Feb 05, 2017 at 23:28 | Damir Kaletovic

The U.S. Department of Treasury has slapped new sanctions on Iran, targeting 13 individuals and as many companies, in response to an Iranian ballistic missile test just days earlier.…

Russia Looks At Greece As Gas Gateway To Europe

Russia Looks At Greece As Gas Gateway To Europe

Feb 05, 2017 at 23:09 | The Jamestown Foundation

The Greek private limited company Gastrade, owned by the Greek conglomerate Coupelouzos Group, has been licensed to develop a floating storage and regasification unit (FSRU), which would allow for the…

Abu Dhabi Fine Tunes Oil Contracts For International Drillers

Abu Dhabi Fine Tunes Oil Contracts For International Drillers

Feb 03, 2017 at 16:09 | Zainab Calcuttawala

Oil majors looking to develop Abu Dhabi’s oil fields could be getting more profitable terms on their drilling contracts as part of a new governmental push to spur investment in…

Radiation Level At Fukushima At Highest Since 2011 Disaster

Radiation Level At Fukushima At Highest Since 2011 Disaster

Feb 03, 2017 at 10:57 | Tsvetana Paraskova

Radiation levels in one part of reactor no.2 at the Fukushima Daiichi nuclear power station are the highest since the disaster in March 2011, media report, quoting the facility’s…

Growth Expectations Keep Russia’s Interest Rates Unchanged

Growth Expectations Keep Russia’s Interest Rates Unchanged

Feb 03, 2017 at 09:32 | Irina Slav

Russia’s central bank will keep interest rates unchanged at 10 percent, thanks to the forecast of stable economic growth. Although slow, the growth projected warrants the decision, as inflation…

Premier Oil Lenders Agree To Refinancing Deal

Premier Oil Lenders Agree To Refinancing Deal

Feb 03, 2017 at 08:05 | Irina Slav

UK-based independent E&P Premier Oil has reached a refinancing debt deal with its lenders that will give the troubled North Sea producer much needed breathing space, at the same time…

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…

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