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News

Trump Presidency May Jeopardize Iran’s New Oil Contracts

Trump Presidency May Jeopardize Iran’s New Oil Contracts

Nov 09, 2016 at 10:27 | Tsvetana Paraskova

Just when western oil majors started resuming investments in Iran’s oil and gas after the lifting of the sanctions, the election victory of Donald Trump – who has spoken…

Iran Starts Long-Delayed Production At Major Field

Iran Starts Long-Delayed Production At Major Field

Nov 09, 2016 at 09:32 | Irina Slav

Iran has announced the launch of production at the North Yaran field, which it shares with Iraq, after years of delay. The development manager of the field, Arash Baqerzadeh,…

Oil Prices Down As API Reports Yet Another Crude Build

Oil Prices Down As API Reports Yet Another Crude Build

Nov 08, 2016 at 16:26 | Zainab Calcuttawala

The latest American Petroleum Institute (API) report shows a crude oil build more than two times larger than experts expected, after last week’s government report revealed a record

Tesla Buys German Engineering Firm In Its Pursuit To Boost Output

Tesla Buys German Engineering Firm In Its Pursuit To Boost Output

Nov 08, 2016 at 16:05 | Tsvetana Paraskova

In its bid to dramatically increase vehicle production, Tesla Motors Inc (NASDAQ:TSLA) said on Tuesday that it had signed a deal to buy German company Grohmann Engineering, which…

U.S. Oil Drillers Raise $28B From Stock Offerings So Far In 2016

U.S. Oil Drillers Raise $28B From Stock Offerings So Far In 2016

Nov 08, 2016 at 15:52 | Tsvetana Paraskova

U.S. oil drillers have reaped a combined US$28 billion from secondary stock offerings so far this year, as they are buying land and raising capital for M&A, fuelfix reported…

France’s Total The First Major To Return Investing In Iran

France’s Total The First Major To Return Investing In Iran

Nov 08, 2016 at 15:17 | Tsvetana Paraskova

France’s oil and gas major Total SA (NYSE:TOT) said on Tuesday that it had signed a preliminary deal to invest billions of dollars in the development of a…

BP Expands The Kazzan Gas Field In Oman

BP Expands The Kazzan Gas Field In Oman

Nov 08, 2016 at 15:03 | City A.M

BP and Oman Oil Company have signed an agreement with the government of Oman to extend their licensing agreement in Oman's huge Khazzan gas field, paving the way for a…

Japex To Postpone $185M Oil Sands Project In Alberta

Japex To Postpone $185M Oil Sands Project In Alberta

Nov 08, 2016 at 12:37 | MINING.com

Japan Petroleum Exploration (Japex) said Tuesday it will postpone launching its Hangingstone oil sands expansion project in Alberta, Canada, until mid-2017, which will result in a cost increase for…

Another Bomb Goes Off At The Trans Forcados Pipeline In Nigeria

Another Bomb Goes Off At The Trans Forcados Pipeline In Nigeria

Nov 08, 2016 at 11:09 | Irina Slav

The Trans Forcados pipeline, which feeds crude from the Niger Delta to the Shell-operated export terminal of the same name, was again bombed in the early hours of Tuesday.…

Iran’s Navy to Escort All Tankers Leaving Coast

Iran’s Navy to Escort All Tankers Leaving Coast

Nov 08, 2016 at 10:42 | Irina Slav

Iran’s Navy will escort all tankers and other commercial vessels leaving the coast of the country to ensure their safe passage through risky waters. This is what Rear Admiral Habibollah…

DONG Quits Oil, Gas, Stays With Wind Power

DONG Quits Oil, Gas, Stays With Wind Power

Nov 08, 2016 at 09:09 | Irina Slav

Danish energy firm DONG Energy has decided to drop its oil and gas operations in order to focus exclusively on offshore windfarm construction and operation. The company had

Chinese Scoop Up Stake Russian Rosneft Subsidiary For $1.1Bn

Chinese Scoop Up Stake Russian Rosneft Subsidiary For $1.1Bn

Nov 07, 2016 at 17:07 | Charles Kennedy

China’s Beijing Gas Group Company has reportedly acquired a 20-percent stake in a subsidiary of Russian Rosneft, giving the Russians help in developing resources in eastern Siberia and access to…

Feeling The Oil Crunch: Saudi Arabia Cancels $266 Billion In Projects

Feeling The Oil Crunch: Saudi Arabia Cancels $266 Billion In Projects

Nov 07, 2016 at 16:56 | Julianne Geiger

Saudi Arabia’s governing economic body called the Council of Economic and Development Affairs (CEDA) has cancelled $266.7 billion in projects, the Saudi Press Agency said, and announced it would be…

PDVSA Pipeline Spill Affects Drinking Water

PDVSA Pipeline Spill Affects Drinking Water

Nov 07, 2016 at 16:46 | Julianne Geiger

An oil spill in Venezuela’s Anzoategui State has affected drinking water across a 31-mile radius, PDVSA confirmed on Monday. Anzoategui State is known for its beautiful coastline that makes up…

Another Setback For DAPL As Norwegian Bank Rethinks Funding

Another Setback For DAPL As Norwegian Bank Rethinks Funding

Nov 07, 2016 at 13:55 | Julianne Geiger

As if the Dakota Access Pipeline project didn’t already have enough problems, Norwegian bank DNB, is rethinking its earlier decision to doll out $342.36 million in loans to construct the…

Oil Major Chief Calls Upon Non-OPEC Producers To Join Cuts

Oil Major Chief Calls Upon Non-OPEC Producers To Join Cuts

Nov 07, 2016 at 12:32 | Tsvetana Paraskova

The chief executive of Italy’s oil major Eni SpA (NYSE:E), Claudio Descalzi, thinks that OPEC-only output cuts is not enough to lift crude oil prices, and that there should…

Aramco Stops Oil Product Shipments To Egypt

Aramco Stops Oil Product Shipments To Egypt

Nov 07, 2016 at 10:17 | Irina Slav

Saudi Aramco has suspended all shipments of fuels to Egypt indefinitely, according to a spokesman for Egypt’s Oil Minister Tarek El Molla. The shipments were part of a US$23-billion…

Magnitude-5 Quake Shakes Oil Territory In Cushing, Oklahoma

Magnitude-5 Quake Shakes Oil Territory In Cushing, Oklahoma

Nov 07, 2016 at 08:55 | Irina Slav

An earthquake with a magnitude of 5.0 on the Richter scale shook Cushing, Oklahoma, the home of U.S. crude oil reserves at 7:44 pm last night. Initial reports said…

Brazil Oil And Gas Production Reach Record Highs In September

Brazil Oil And Gas Production Reach Record Highs In September

Nov 04, 2016 at 18:19 | Erwin Cifuentes

The Brazilian government on Friday reported that its oil and gas production rose to record levels in September with a total oil equivalent of 3.36 million barrels per day (bpd).…

Kurdistan Dismisses $1 Billion Per Month Oil Revenue Claims

Kurdistan Dismisses $1 Billion Per Month Oil Revenue Claims

Nov 04, 2016 at 16:28 | Tsvetana Paraskova

The Ministry of Natural Resources of the Kurdistan Regional Government (KRG) denied on Thursday a report by news outlet NRT that the autonomous region in northern Iraq is selling…

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