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News

Georgia Foils Terror Attack on Russia-Armenia Gas Pipeline

Georgia Foils Terror Attack on Russia-Armenia Gas Pipeline

Aug 22, 2016 at 12:56 | Tsvetana Paraskova

Georgia’s security services have thwarted an attempt by terrorists to blow up a pipeline that supplies natural gas from Russia to Armenia in an area outside Georgia’s capital…

Syrian Army Hits ISIS In Oil-Rich Homs Area

Syrian Army Hits ISIS In Oil-Rich Homs Area

Aug 22, 2016 at 11:37 | Tsvetana Paraskova

Syria’s Army has hit major gatherings of ISIS in an oil-rich area in Homs, east of the ancient city of Palmyra, inflicting a heavy death toll to the…

A Glimmer Of Hope For Nigerian Oil As The NDA Announces A Ceasefire

A Glimmer Of Hope For Nigerian Oil As The NDA Announces A Ceasefire

Aug 22, 2016 at 11:10 | Irina Slav

The Niger Delta Avengers have agreed to cease their attacks on oil production and transportation infrastructure after prolonged negotiations with the federal government of Nigeria. The ceasefire, however,…

Iraqi Oil Exports to Jump by 150,000 Bpd

Iraqi Oil Exports to Jump by 150,000 Bpd

Aug 22, 2016 at 09:43 | Irina Slav

Iraq has reached an agreement with the Kurdistan Regional Government to resume crude oil exports from three fields in the Kirkuk region, which will add some 150,000…

Wilbur Ross Splashes on Oil, Gas Debt

Wilbur Ross Splashes on Oil, Gas Debt

Aug 22, 2016 at 09:04 | Irina Slav

Investor Wilbur Ross, famous for his big appetite for distressed debt, has spent several hundred million on buying debt in the oil and gas industry, the Wall Street Journal

Exxon’s New Plastics Technology Set To Boost Petrochemical Sector

Exxon’s New Plastics Technology Set To Boost Petrochemical Sector

Aug 20, 2016 at 14:27 | Erwin Cifuentes

Researchers from Exxon Mobil and the Georgia Institute of Technology unveiled a new form of plastics making that could reduce manufacturing costs and emissions. The new system, which…

Natural Gas Pipelines Hit by Artillery Fire in Eastern Ukraine

Natural Gas Pipelines Hit by Artillery Fire in Eastern Ukraine

Aug 19, 2016 at 13:34 | Tsvetana Paraskova

Three natural gas pipelines were damaged overnight by artillery fire in Ukraine’s self-proclaimed eastern republic of Donetsk, Russian media reported on Friday, citing gas supplying company Donbassgas.…

Australia Says No to China’s Buyout of Aussie Power Grid

Australia Says No to China’s Buyout of Aussie Power Grid

Aug 19, 2016 at 13:17 | Tsvetana Paraskova

Citing national interest concerns, Australia officially banned on Friday the sale of a majority stake of its largest power distribution grid to foreign investors, drawing a warning…

Brazil Seizes $655M Odebrecht, OAS Assets in Petrobras Damage Compensation

Brazil Seizes $655M Odebrecht, OAS Assets in Petrobras Damage Compensation

Aug 19, 2016 at 10:17 | Tsvetana Paraskova

The federal auditing court of Brazil, TCU, has ordered the seizure of assets worth the equivalent of US$655 million from Latin America’s largest engineering group Odebrecht and…

3 Bomb Attacks in Turkey Kill 11, Injure 300

3 Bomb Attacks in Turkey Kill 11, Injure 300

Aug 19, 2016 at 08:25 | Irina Slav

Three bomb attacks this week in Turkey have led to 11 fatalities and 300 people getting injured, local media report. The attacks, all in the eastern part…

ISIS Receives Another Blow to Oil Revenue in Iraq, 12 Dead

ISIS Receives Another Blow to Oil Revenue in Iraq, 12 Dead

Aug 19, 2016 at 08:13 | Irina Slav

The oil infrastructure of ISIS, on which the terrorist group depends for its survival, took another blow yesterday, this time from the U.S.-led coalition forces, which struck a convoy…

Daimler AG’s Hometown Steers Away From Fossil Fuel Investment

Daimler AG’s Hometown Steers Away From Fossil Fuel Investment

Aug 18, 2016 at 12:53 | Lincoln Brown

The city of Stuttgart, Germany, home of the automaker Daimler AG, has announced that it plans to divest itself from companies that are not environmentally compliant. Stuttgart…

Nigerian Oil Output Falls To 1,56 Mbpd – 4 Blends Remain Under Force Majeure

Nigerian Oil Output Falls To 1,56 Mbpd – 4 Blends Remain Under Force Majeure

Aug 18, 2016 at 11:31 | Lincoln Brown

Attacks by militant have caused a drop in the oil output from Nigeria. Oil Minister Emmanuel Ibe Kachikwu stated while in Lagos that production had fallen to 1.56 million…

Premier Oil Turns to Profit, But Debt-Deal Talks Drag On

Premier Oil Turns to Profit, But Debt-Deal Talks Drag On

Aug 18, 2016 at 09:43 | Tsvetana Paraskova

Boosted by asset acquisitions and weaker sterling after the Brexit vote, the UK’s biggest independent oil producer Premier Oil reported on Thursday a return to profit in…

Argentina Reneges on Lower Oil Prices Promise

Argentina Reneges on Lower Oil Prices Promise

Aug 18, 2016 at 08:31 | Irina Slav

The Argentine government has gone back on a promise to cut crude oil prices, after last week it emerged it had reached an unofficial agreement with oil…

South Sudan “At Peace” Aims For 500,000 Bpd Oil Production

South Sudan “At Peace” Aims For 500,000 Bpd Oil Production

Aug 18, 2016 at 07:06 | Irina Slav

The government of South Sudan is determined to ramp up crude oil production by November, so it can start exporting fuels to neighboring Ethiopia, Petroleum Minister Ezekiel Lol Gatkuoth

Economy Of Alberta Hit Hard By Low Oil Prices

Economy Of Alberta Hit Hard By Low Oil Prices

Aug 17, 2016 at 16:40 | Erwin Cifuentes

The Canadian province of Alberta has been hurt by the low price of oil that has fallen from at least US$105 per barrel in mid-2014 to current…

One Of The World’s Top Oil Traders Is An Olympic Hopeful

One Of The World’s Top Oil Traders Is An Olympic Hopeful

Aug 17, 2016 at 14:02 | Tsvetana Paraskova

A millionaire oil trader at Geneva-based Trafigura—the world's third-largest private oil and metals trader—is jumping for a medal in the Rio Olympics, competing for Argentina in an equestrian…

Moscow Delays Bashneft Privatization for 2017

Moscow Delays Bashneft Privatization for 2017

Aug 17, 2016 at 12:42 | Irina Slav

The planned sale of a majority stake in state-owned oil company Bashneft has been postponed until 2017. Among the reasons cited for the decision was the unfavorable…

Oil Pipelines In Louisiana May Soon Be Buried At Sea

Oil Pipelines In Louisiana May Soon Be Buried At Sea

Aug 17, 2016 at 11:11 | Lincoln Brown

Louisiana’s shrinking coastline is causing headaches for the oil industry in that state, as an eroding coast and rising sea waters are threatening oil infrastructure. The coastline…

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