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News

Marathon Petroleum Boasts Q3 Profits, Focuses On Shareholder Returns

Marathon Petroleum Boasts Q3 Profits, Focuses On Shareholder Returns

Oct 27, 2016 at 10:02 | Irina Slav

Marathon Petroleum reported earnings per share of US$0.58 for the third quarter, versus analyst expectations of US$0.81, with revenues also missing the consensus estimate, coming in at US$16.46 billion.…

Statoil Cuts Spending As It Posts Unexpected Q3 Loss

Statoil Cuts Spending As It Posts Unexpected Q3 Loss

Oct 27, 2016 at 09:23 | Tsvetana Paraskova

In a sign that major oil producers continue to suffer from low crude prices, Norway’s Statoil (NYSE:STO) reported on Thursday a third-quarter loss,…

DAPL: Law Enforcement Prepares For Forced Removal Of Protestors

DAPL: Law Enforcement Prepares For Forced Removal Of Protestors

Oct 26, 2016 at 18:11 | Zainab Calcuttawala

Law enforcement officials prepared to remove 200 protestors trying to halt the construction of the Dakota Access pipeline on Wednesday after the group refused to leave private lands. The…

Angola’s Supreme Court Would Like A Word With The Country’s President On Oil

Angola’s Supreme Court Would Like A Word With The Country’s President On Oil

Oct 26, 2016 at 18:03 | Lincoln Brown

On the face of things, it would only seem to make sense that the president of a nation would appoint a smart, savvy businessperson to head up the country’s state…

Canada Lowers 2020 Oil Price Outlook By Double-Digits

Canada Lowers 2020 Oil Price Outlook By Double-Digits

Oct 26, 2016 at 17:04 | Zainab Calcuttawala

The Canadian National Energy Board lowered its expectations for the oil price recovery on Wednesday due to the falling costs of energy production and challenging environmental regulations. By 2020,…

Angola, Zambia to Restart Talks On Pipeline Construction

Angola, Zambia to Restart Talks On Pipeline Construction

Oct 26, 2016 at 16:52 | Tsvetana Paraskova

Zambia and Angola are set to resume talks on the construction of a pipeline that would carry petroleum products from oil-rich Angola to major copper producer Zambia, which imports…

Greece Says Total-Led Group Preferred Bidder To Drill For Offshore Gas

Greece Says Total-Led Group Preferred Bidder To Drill For Offshore Gas

Oct 26, 2016 at 14:13 | Tsvetana Paraskova

Greece said on Wednesday that it is naming a consortium led by France’s Total SA (NYSE:TOT) and comprised of Italy’s Edison and Greece’s largest refiner, Hellenic Petroleum,…

Will DONG Energy Dump Its Oil & Gas Business?

Will DONG Energy Dump Its Oil & Gas Business?

Oct 26, 2016 at 10:24 | Tsvetana Paraskova

While pursuing its growing clean-energy businesses, Denmark’s DONG Energy confirmed on Wednesday that it does not consider its oil and gas business a long-term strategic goal, although it stopped…

BP To Sell US Crude To Australia, Thailand For First Time

BP To Sell US Crude To Australia, Thailand For First Time

Oct 26, 2016 at 09:17 | Tsvetana Paraskova

Oil major BP (NYSE:BP) is set to ship 1 million barrels of U.S. crude to Australia and Thailand by the end of this year in what would be the…

Libya Releases Russian Oil Smugglers After Year-Long Incarceration

Libya Releases Russian Oil Smugglers After Year-Long Incarceration

Oct 25, 2016 at 17:44 | Moutaz Ali

Three Russian sailors arrested in Libya for fuel smuggling in 2015 have been released just 24 hours after a visit by Russian MPs with Presidency Council head Ahmed Maetig yesterday…

Shell To Resume Exports From Terminal Attacked By Militants

Shell To Resume Exports From Terminal Attacked By Militants

Oct 25, 2016 at 17:26 | Erwin Cifuentes

The Nigerian presidency on Tuesday issued a statement affirming that Royal Dutch Shell will resume exports from the Forcados terminal in the Niger Delta region. "The Shell Director, Mr.…

Oil Prices Plunge After API Reports Significant Build To U.S. Crude Stocks

Oil Prices Plunge After API Reports Significant Build To U.S. Crude Stocks

Oct 25, 2016 at 16:24 | Zainab Calcuttawala

American crude oil supplies surged upwards by 4.8 million barrels this week, almost completely offsetting last week’s 5.2-million-barrel draw, according to the American Petroleum Institute (API) report released on Tuesday.…

Total, Gunvor, Glencore Vie To Buy $1B Chevron Assets In South Africa

Total, Gunvor, Glencore Vie To Buy $1B Chevron Assets In South Africa

Oct 25, 2016 at 13:48 | Tsvetana Paraskova

France’s oil major Total SA (NYSE:TOT), mining and trading giant Glencore, and crude oil trader Gunvor have bid to buy 75 percent of Chevron’s (NYSE:CVX) South African downstream…

Russia Still Vague On Oil Freeze While Venezuela Wishes On A Star

Russia Still Vague On Oil Freeze While Venezuela Wishes On A Star

Oct 25, 2016 at 12:28 | Irina Slav

Russian Energy Minister Alexander Novak is still keeping his cards close to his chest, with the ministry reporting that he discussed with his Venezuelan counterpart, Eulogio del Pino, “coordinating…

Baker Hughes Still Struggling In North America

Baker Hughes Still Struggling In North America

Oct 25, 2016 at 10:26 | Tsvetana Paraskova

Oilfield services group Baker Hughes (NYSE:BHI) reported on Tuesday a lower-than-expected adjusted net loss for the third quarter, but said that its North American business will only slightly…

OPEC’s Indonesia Eyes 42% Oil Output Boost 2017

OPEC’s Indonesia Eyes 42% Oil Output Boost 2017

Oct 25, 2016 at 10:02 | Irina Slav

Amid rising doubts about OPEC’s crude oil production freeze agreement, one member of the organization that’s so far stayed out of the spotlight has declared its plans to raise oil…

Protesters Rally In Canada Against Trans Mountain Pipeline Extension

Protesters Rally In Canada Against Trans Mountain Pipeline Extension

Oct 24, 2016 at 17:52 | Erwin Cifuentes

Approximately one hundred people gathered on Monday in the Canadian capital city of Ottawa to protest against the planned expansion of the Trans Mountain oil pipeline. Billed by rally organizers…

Iraq To Offer Oil Fields Directly To Foreign Firms

Iraq To Offer Oil Fields Directly To Foreign Firms

Oct 24, 2016 at 17:32 | Erwin Cifuentes

The Iraqi oil ministry will negotiate directly with international oil companies (IOCs) and consortiums in the upcoming bidding of a dozen small- to medium-sized fields located in the provinces of…

Egypt Wants Inquiry Into Suspended Saudi Oil Shipments

Egypt Wants Inquiry Into Suspended Saudi Oil Shipments

Oct 24, 2016 at 17:18 | Lincoln Brown

The Energy Committee of the Egyptian Parliament plans to contact its Ministry of Petroleum to get to the bottom of why the petroleum shipment from Aramco was suspended earlier this…

Uganda Reportedly In Talks Over $4B Refinery With Dubious Firm

Uganda Reportedly In Talks Over $4B Refinery With Dubious Firm

Oct 24, 2016 at 17:09 | Tsvetana Paraskova

Uganda’s ministry of energy has invited for talks a dubious company registered in a tax haven to discuss the construction of a US$4-billion, 30,000-bpd crude oil refinery in the…

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