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News

Statoil Begins Production Drilling At Mariner Oil Field

Statoil Begins Production Drilling At Mariner Oil Field

Dec 02, 2016 at 12:23 | Tsvetana Paraskova

After having pushed last year the production timetable for the Mariner oil field from 2017 to 2018, Norway’s Statoil (NYSE:STO) said on Friday that production drilling at the field…

Private Equity Hunting For Oil & Gas Assets In South-East Asia

Private Equity Hunting For Oil & Gas Assets In South-East Asia

Dec 02, 2016 at 10:24 | Tsvetana Paraskova

Companies backed by private equity firms and former executives at Big Oil are seeking to buy oil and gas assets across Southeast Asia, as lower current valuations and oil majors…

Study: Canada’s Wealth Growth Overly Dependent On Oil

Study: Canada’s Wealth Growth Overly Dependent On Oil

Dec 02, 2016 at 09:20 | Tsvetana Paraskova

Canada’s national wealth grew by just 0.19 percent annually between 1980 and 2013, and continues to strongly depend on oil and gas extraction, the International Institute for Sustainable Development (IISD)…

Expert: North Sea Oil Still Offers Profit To The Wise

Expert: North Sea Oil Still Offers Profit To The Wise

Dec 01, 2016 at 18:01 | Tsvetana Paraskova

In times of distress, there is opportunity, and the North Sea’s oil riches are still ripe for anyone wise enough to play them, says a key financial expert. The oil…

Mexico Welcomes OPEC Deal, Keeps 2017 Oil Output Target At 1.944 Million Bpd

Mexico Welcomes OPEC Deal, Keeps 2017 Oil Output Target At 1.944 Million Bpd

Dec 01, 2016 at 17:54 | Tsvetana Paraskova

Mexico will keep its 2017 production target at 1.944 million barrels per day, as set out in state oil company Pemex’s plans, and lower than the expected 2.159 million bpd…

Harold Hamm Rejects Trump’s Offer of Energy Secretary

Harold Hamm Rejects Trump’s Offer of Energy Secretary

Dec 01, 2016 at 16:55 | Julianne Geiger

Energy mogul Harold Hamm will not be taking President-Elect Trump up on his offer to name him Energy Secretary, according to Fox News. Hamm, who yesterday cleared a cool…

Fire Breaks Out At Eni Refinery In Northern Italy, No Injuries Reported

Fire Breaks Out At Eni Refinery In Northern Italy, No Injuries Reported

Dec 01, 2016 at 16:15 | Tsvetana Paraskova

Italy’s oil major Eni SpA (NYSE:E) said on Thursday that a fire broke out earlier in the day at the Eni Slurry Technology (EST) plant in its Sannazzaro de’…

Energy ETFs Win Big On OPEC Promises

Energy ETFs Win Big On OPEC Promises

Dec 01, 2016 at 15:39 | Julianne Geiger

Energy ETFs are soaring on the coattails of OPEC’s Wednesday promise to cut oil output to 32.5 million barrels per day, and right now it looks like they’re set…

U.S. Gas Pipeline Export Capacity To Mexico To Nearly Double By 2018

U.S. Gas Pipeline Export Capacity To Mexico To Nearly Double By 2018

Dec 01, 2016 at 13:00 | Tsvetana Paraskova

U.S. pipeline capacity for natural gas exports to Mexico is expected to almost double by the end of 2018 from the current pipeline capacity of 7.3 billion cubic feet per…

Shorting The OPEC Deal: Gartman Is Feeling Some Pain

Shorting The OPEC Deal: Gartman Is Feeling Some Pain

Dec 01, 2016 at 12:40 | ZeroHedge

Gartman has done it again, and luckily, the following "advice" does not require much in terms of commentary. It was, as Gartman might perhaps say, to be expected in self-explanatory…

Nigeria’s Q3 Exports Up On Soaring Oil Sales

Nigeria’s Q3 Exports Up On Soaring Oil Sales

Dec 01, 2016 at 12:34 | Tsvetana Paraskova

Nigeria’s exports increased by 29.1 percent sequentially in the third quarter, as the value of crude oil exports rose by 30.9 percent on the quarter, the country’s National Bureau of…

Nigerian President Hints Engineers Involved In Pipeline Vandalism

Nigerian President Hints Engineers Involved In Pipeline Vandalism

Nov 30, 2016 at 17:02 | Tsvetana Paraskova

Nigeria’s President Muhammadu Buhari has hinted that engineers may be competent enough to be involved in pipeline vandalism at sea and asked the Nigerian Academy of Engineering to talk to…

Indonesia Suspended From OPEC

Indonesia Suspended From OPEC

Nov 30, 2016 at 16:52 | Tsvetana Paraskova

As if the reports that OPEC managed to reach a deal on production cuts was not news big enough, the organization added another shocker on Wednesday, by suspending Indonesia from…

Australia Says Big Oil Failed To Pay Billions In Taxes

Australia Says Big Oil Failed To Pay Billions In Taxes

Nov 30, 2016 at 13:50 | Irina Slav

Oil and gas companies operating in Australia are about to come under fire from the government, as the Treasury launches an investigation into taxes paid by the industry and seeks…

Trudeau Greenlights Two Oil Pipeline Projects

Trudeau Greenlights Two Oil Pipeline Projects

Nov 30, 2016 at 12:30 | Irina Slav

Canada’s Prime Minister Justine Trudeau has approved, conditionally, two new pipeline projects: Kinder Morgan’s Trans Mountain and Enbridge’s Line 3, despite environmentalist opposition to these and all other pipeline…

SEC Scolded Tesla For Using Prohibited ‘Tailored’ Accounting

SEC Scolded Tesla For Using Prohibited ‘Tailored’ Accounting

Nov 30, 2016 at 09:35 | Tsvetana Paraskova

The U.S. Securities and Exchange Commission (SEC) has criticized Tesla Motors (NASDAQ:TSLA) for having used non-GAAP accounting metrics that were in violation of earlier SEC compliance and disclosure guidance,…

Ahead Of OPEC’s Meeting, API Inventory Report Shows Major Crude Build At Cushing

Ahead Of OPEC’s Meeting, API Inventory Report Shows Major Crude Build At Cushing

Nov 29, 2016 at 16:26 | Julianne Geiger

On the eve of the biggest OPEC decision in recent history, the American Petroleum Institute (API) has released crude inventory data showing the biggest build in Cushing since March 2015,…

Norway’s Oil & Gas Q3 Wage Growth Lower Than A Year Ago

Norway’s Oil & Gas Q3 Wage Growth Lower Than A Year Ago

Nov 29, 2016 at 14:56 | Tsvetana Paraskova

Average basic salaries for full-time employees in Norway’s oil and gas extraction sector inched up by 0.5 percent sequentially in the third quarter, compared to a 0.7-percent quarterly increase in…

Russia’s Lukoil Q3 Net Profit Drops 12.4 Percent

Russia’s Lukoil Q3 Net Profit Drops 12.4 Percent

Nov 29, 2016 at 14:55 | Tsvetana Paraskova

Russia’s second-biggest oil producer, Lukoil, reported on Tuesday that its net profit for the third quarter dropped 12.4 percent compared to the second quarter, as low oil prices and…

Taliban Offer To Protect Afghan Natural Resource Projects

Taliban Offer To Protect Afghan Natural Resource Projects

Nov 29, 2016 at 14:40 | Tsvetana Paraskova

The Afghan Taliban, who have been responsible for much of the violence in Afghanistan in the past 15 years, said on Tuesday that they would protect major government projects…

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