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India sets a new record…
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…
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 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-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.…
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’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…
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…
The Trans Forcados Pipeline in Nigeria - which has suffered several militant attacks and has been shut for most of 2016 – could resume operations at some point at the…
Crude oil demand won’t peak anytime soon, the head of the International Energy Agency Fatih Birol said, adding that growth will be spurred by emerging economies. Reuters quoted Birol…
The implementation of the project to raise production at Kazakhstan’s huge Tengiz oil field will create more than 20,000 oil-related jobs in the country, the ministry of labor and social…
In a change of course, the Swedish government is inclined to let Russia’s Gazprom use Sweden’s southern port of Karlshamn for the construction of the Nord Stream 2 gas pipeline,…
As the oil price crisis catches up with Saudi Arabia, residents of the oil-rich Kingdom will have to start paying taxes on services and products as of next year, after…
The U.S. electricity industry plans to raise natural gas-fired generating capacity by 8 percent in 2018 compared to existing capacity as of the end of 2016, the Energy Information Administration…
Political parties in the Kurdistan autonomous region of Iraq are quarreling over the share each of them gets from oil trade, according to the secretary of the Kurdistan Social Democratic…
Lukoil hopes it will begin the development of two oil fields in Iran later this year, after the conclusion of negotiations currently held with the National Iranian Oil Company. This…
Iran has said it may cancel its high-profile, US$7-billion ‘peace pipeline’ project with Pakistan over lengthy construction delays, with would deprive energy-starved Pakistan of the some 22 million cubic…
South Sudan aims to double its oil production to 290,000 barrels per day in fiscal year 2017/2018, the country’s finance minister said on Friday, up from current output of…
Angola’s state-held oil firm Sonangol plans to load 1.51 million barrels per day in March under its finalized exports schedule, down from plans to export 1.62 million bpd in February,…
Chevron Corporation (NYSE:CVX) reported on Friday earnings of US$0.22 per share for the fourth quarter, compared with a loss of US$0.31 per share for the fourth quarter of…
Shell and Chrysaor are in the late stages of negotiating an asset sale deal worth US$3 billion, according to unnamed sources quoted by Reuters. The sale concerns part of…