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Oil Fund Withdrawals Suggest Extended Price Rally

Oil Fund Withdrawals Suggest Extended Price Rally

Investors are ditching the oil…

The AI Revolution Has a Problem: Energy

The AI Revolution Has a Problem: Energy

On the one hand, artificial…

News

India Okays Purchase Of $3.2B Stake In Russian Oil Fields

India Okays Purchase Of $3.2B Stake In Russian Oil Fields

Sep 28, 2016 at 12:38 | Tsvetana Paraskova

India’s government approved on Wednesday two stake purchases by a consortium of Indian companies of Russian oil fields worth a combined US$3.2 billion. The Indian cabinet gave the green…

Billionaire Investor And Det Norske Owner Browsing For New Oil Assets

Billionaire Investor And Det Norske Owner Browsing For New Oil Assets

Sep 28, 2016 at 10:21 | Irina Slav

The owner of Norway’s Det Norske Oljeselkap is looking for new acquisition opportunities, and money is apparently a non-issue. According to Bloomberg, billionaire investor Kjell Inge Roekke is ready…

Iran’s President Says Economy Withstands Low Oil Price Trouble

Iran’s President Says Economy Withstands Low Oil Price Trouble

Sep 28, 2016 at 09:08 | Tsvetana Paraskova

Iran has been spared the economic troubles that other oil-producing countries have been facing with the low crude prices, as the government has managed to curb inflation and add billions…

Italy’s Eni Seeks Billion-Dollar Loan For Mozambique Gas Project

Italy’s Eni Seeks Billion-Dollar Loan For Mozambique Gas Project

Sep 27, 2016 at 17:49 | Tsvetana Paraskova

Italy’s oil and gas major Eni has contacted banks to ask billions of U.S. dollars to finance the development of the huge Coral field offshore Mozambique, Reuters reported on…

Algeria Privatizes State Banks On Oil Price Slide

Algeria Privatizes State Banks On Oil Price Slide

Sep 27, 2016 at 17:42 | Erwin Cifuentes

A couple days ahead of the informal OPEC meeting in Algiers regarding the stability of oil prices, Algeria has announced its plans to privatize their state banks in reaction to…

API Surprises Oil Markets, Reports Draws Across The Board

API Surprises Oil Markets, Reports Draws Across The Board

Sep 27, 2016 at 17:27 | Charles Kennedy

The American Petroleum Institute (API) has reported what very well may be the fifth week in a row of a draw in U.S. oil inventories of 752,000 barrels, in dramatic…

Four Dead Following Helicopter Crash in Angola

Four Dead Following Helicopter Crash in Angola

Sep 27, 2016 at 16:07 | Lincoln Brown

Chevron has confirmed that four out of six people aboard a helicopter died in a crash en route to the company’s Tombua-Landana facility in Angola. A search operation has been…

First US Shale Gas Arrives In Scotland Amid Controversies

First US Shale Gas Arrives In Scotland Amid Controversies

Sep 27, 2016 at 15:50 | Tsvetana Paraskova

The first tanker loaded with shale ethane extracted from U.S. fields reached Scotland’s Grangemouth site of chemicals company Ineos on Tuesday, rekindling the shale controversy in Scotland and in…

The Oil Glut Will Bleed Into 2017, Says IEA Chief

The Oil Glut Will Bleed Into 2017, Says IEA Chief

Sep 27, 2016 at 15:10 | Tsvetana Paraskova

The International Energy Agency (IEA) executive director Fatih Birol does not see the oil market rebalancing until late next year, expressing a gloomier view on the crude glut than…

Russian-Turned-American Oil Vet Bets Big on Trump Victory

Russian-Turned-American Oil Vet Bets Big on Trump Victory

Sep 27, 2016 at 11:00 | Irina Slav

Simon Kukes, a former head of Russian state-owned oil and gas company Yukos, has spent over US$150,000 on Donald Trump’s presidential campaign, adding to a list of Russia-related facts…

Shell Shuts Down Bonny Light Pipeline

Shell Shuts Down Bonny Light Pipeline

Sep 27, 2016 at 10:05 | Irina Slav

Shell’s Nigerian division has shut down one of the two pipelines that carry Bonny light crude to its Forcados terminal in the Niger Delta, saying a fire was detected “on…

Merrill Lynch Sees End Of OPEC Market Share War

Merrill Lynch Sees End Of OPEC Market Share War

Sep 26, 2016 at 16:56 | Zainab Calcuttawala

The decline of new oil and gas investments means the current oil glut’s days are numbered, according to a new report from Merrill Lynch. “Our analysis shows that the…

Dakota Access Owners Evade Federal Regulators, Buy Land Surrounding Pipeline

Dakota Access Owners Evade Federal Regulators, Buy Land Surrounding Pipeline

Sep 26, 2016 at 16:39 | Zainab Calcuttawala

Energy Transfer Partners—one of the major stakeholders in the controversial Dakota Access pipeline—bought over 6,000 acres of land surrounding the line’s route in North Dakota, according to several media…

New Clashes In South Sudan Raise Risk Of Civil War

New Clashes In South Sudan Raise Risk Of Civil War

Sep 26, 2016 at 15:45 | Zainab Calcuttawala

South Sudan’s oil-rich Unity state saw heaving fighting this weekend when clashes between government troops (SPLA) and the armed opposition (SPLA-IO) broke out in Rubkotna county. The Sudan Tribune…

Colombian Government, FARC Rebels To Sign Peace Accord

Colombian Government, FARC Rebels To Sign Peace Accord

Sep 26, 2016 at 15:29 | Erwin Cifuentes

One of the deadliest chapters in the decades-long armed conflict in Colombia will come to a close on Monday following the signing of a peace agreement between Colombian president…

UK’s Labour Party Vows To Ban Fracking If Elected

UK’s Labour Party Vows To Ban Fracking If Elected

Sep 26, 2016 at 15:14 | Tsvetana Paraskova

The UK’s opposition Labour Party will ban fracking ‘outright’ if it wins the next general elections, shadow international trade secretary Barry Gardiner said at the Labour conference on Monday.…

Major Deal Turns Israel Into Jordan’s Leading Gas Supplier

Major Deal Turns Israel Into Jordan’s Leading Gas Supplier

Sep 26, 2016 at 12:47 | Irina Slav

A deal between the operators of the Leviathan oil and gas field off the Israeli coast and Jordan Electric Power Company has just turned Israel into Jordan’s biggest gas supplier.…

Saudi Arabia Bolsters Bank Lending With $5.3B Support

Saudi Arabia Bolsters Bank Lending With $5.3B Support

Sep 26, 2016 at 10:58 | Tsvetana Paraskova

In a bid to support financial liquidity amid the low oil prices, Saudi Arabia’s central bank will be injecting US$5.33 billion (20 billion riyals) into local banks in the…

UAE To Start Publishing Weekly Oil Data

UAE To Start Publishing Weekly Oil Data

Sep 26, 2016 at 10:27 | Irina Slav

The United Arab Emirates will start publishing weekly inventory data for its Fujairah port in a bid to enhance transparency and help turn the Indian Ocean port into an…

Niger Delta Avengers Blow Up Oil Pipeline Again

Niger Delta Avengers Blow Up Oil Pipeline Again

Sep 26, 2016 at 09:07 | Irina Slav

The Niger Delta Avengers announced yesterday that they have bombed the Bonny pipeline, which carries crude to the Shell-operated Forcados terminal. The militant group had agreed a ceasefire with…

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