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Kazakhstan's Nascent Auto Industry Thrives Amid Controversy

Kazakhstan's Nascent Auto Industry Thrives Amid Controversy

Kazakhstan's controversial auto recycling fee…

China's Rare Earths Strategy, Explained

China's Rare Earths Strategy, Explained

China's recent discovery of new…

News

EU, Gazprom Move Closer To Resolving Gas Sales Dispute

EU, Gazprom Move Closer To Resolving Gas Sales Dispute

Mar 13, 2017 at 13:56 | Tsvetana Paraskova

Signaling a thaw in relations, the European Commission (EC) said on Monday that Gazprom had offered commitments to address the EU’s competition concerns regarding the Russian gas giant’s dominating…

Russia’s Rosneft Says Oil Production Cuts May Not Be Extended

Russia’s Rosneft Says Oil Production Cuts May Not Be Extended

Mar 13, 2017 at 13:28 | Tsvetana Paraskova

Russia’s oil giant Rosneft sees a lack of will among the main signatories to the OPEC/non-OPEC deal and U.S. shale production as the main risks to a possible extension of…

Iran Overtakes Iraq As India’s No. 2 Oil Supplier

Iran Overtakes Iraq As India’s No. 2 Oil Supplier

Mar 13, 2017 at 12:32 | Tsvetana Paraskova

Indian refiners boosted Iranian crude oil imports in February while they received one-third lower imports from Saudi Arabia and Iraq. Both Saudi Arabia and Iraq are bound by OPEC supply…

Gas Station War Brings South Houston Gas Price To $0.78

Gas Station War Brings South Houston Gas Price To $0.78

Mar 13, 2017 at 11:47 | Irina Slav

A little local price war between two gas stations in South Houston has allowed drivers to fill up for $0.78 a gallon, despite having to wait in line for…

Clashes In Libya Force Oilfield Shutdowns, Force Majeure Possible

Clashes In Libya Force Oilfield Shutdowns, Force Majeure Possible

Mar 13, 2017 at 10:36 | Irina Slav

Continued fighting between the Libyan National Army and the Benghazi Defense Brigades may cause the declaration of force majeure at two oil export terminals, a board member of the National…

Saudi Arabian Budget Deficit Set to Narrow in 2017 on Higher Oil Prices

Saudi Arabian Budget Deficit Set to Narrow in 2017 on Higher Oil Prices

Mar 10, 2017 at 17:21 | Zainab Calcuttawala

Higher oil prices and well-planned spending will narrow the deficit in Saudi Arabia’s budget this year, according to a research note published by Merrill Lynch. In 2017, the shortfall…

Musk Guarantees Tesla Technology Can Solve South Australia’s Power Deficit

Musk Guarantees Tesla Technology Can Solve South Australia’s Power Deficit

Mar 10, 2017 at 16:36 | Zainab Calcuttawala

Elon Musk bets his company, Tesla, can bring over 100 megawatts of energy to South Australia’s grid via battery in 100 days, according to a recent Twitter exchange the…

Vitol Expects U.S. Crude Exports Growing ‘A Lot More’

Vitol Expects U.S. Crude Exports Growing ‘A Lot More’

Mar 10, 2017 at 16:25 | Tsvetana Paraskova

Rising production in the Permian, coupled with cheap pipeline and railway transport fees to the Gulf of Mexico, will enable the U.S. to significantly raise its already record-high crude oil…

Rosneft Boosts Ties With Ex Juice King To Lift Trade In Europe

Rosneft Boosts Ties With Ex Juice King To Lift Trade In Europe

Mar 10, 2017 at 12:30 | Tsvetana Paraskova

In a bid to boost its oil products trade in southern Europe and Turkey, Russia’s oil giant Rosneft is expanding its business ties with oil products trading and logistics firm…

Big Oil Regains Deepwater Drilling Appetite

Big Oil Regains Deepwater Drilling Appetite

Mar 10, 2017 at 12:21 | Tsvetana Paraskova

After three years of deepwater exploration in the doldrums, the big international oil companies are resuming their offshore exploration efforts with lowered costs and highly selective smarter choices for drilling…

World Bank Tribunal Annuls Venezuela Damages Reward For Exxon

World Bank Tribunal Annuls Venezuela Damages Reward For Exxon

Mar 10, 2017 at 10:06 | Irina Slav

The International Center for Settlement of Investment Disputes annulled an earlier decision that would have seen Venezuela pay more than a billion dollars to Exxon for the nationalization of two…

Tillerson To Stay Away From Keystone XL

Tillerson To Stay Away From Keystone XL

Mar 10, 2017 at 09:34 | Irina Slav

Secretary of State Rex Tillerson has recused himself from any issues and deliberations around the Keystone XL oil pipeline project, a statement from the State Department revealed. The statement was…

Repsol Announces Largest U.S. Onshore Conventional Discovery In 30 Years

Repsol Announces Largest U.S. Onshore Conventional Discovery In 30 Years

Mar 09, 2017 at 17:38 | Zainab Calcuttawala

The Spanish company Repsol announced a find in Alaska that could be the largest “onshore conventional hydrocarbons discovery” made in the United States in the past thirty years, according to…

“No Free Rides,” Say Saudi Officials to US Shale

“No Free Rides,” Say Saudi Officials to US Shale

Mar 09, 2017 at 17:28 | Zainab Calcuttawala

Officials from Saudi Arabia – the de factor leader of the Organization of Petroleum Exporting Countries (OPEC) – told American oil producers this week that they should not expect the…

Oil Tanker En Route To Libya’s Es Sider Diverted To Avoid Clashes

Oil Tanker En Route To Libya’s Es Sider Diverted To Avoid Clashes

Mar 09, 2017 at 15:14 | Tsvetana Paraskova

As Libya’s eastern oil ports are again threatened by clashes among various militias, an oil tanker that was set to load crude oil at Es Sider on Thursday has been…

Marathon Oil Sells Canadian Oil Sands Assets, Bets On Permian

Marathon Oil Sells Canadian Oil Sands Assets, Bets On Permian

Mar 09, 2017 at 13:56 | Tsvetana Paraskova

In a sign that oil companies have realized where the biggest returns can be reaped after the downturn, Marathon Oil Corporation said on Thursday that it is divesting its…

UAE Cuts More In March/April, Questions OPEC Secondary Sources

UAE Cuts More In March/April, Questions OPEC Secondary Sources

Mar 09, 2017 at 13:49 | Tsvetana Paraskova

The United Arab Emirates – which has, so far, failed to bring its production below the level required in OPEC’s production cut deal - is committed to the agreement and…

Gas Deficit Threatens Australia With Power Shortages

Gas Deficit Threatens Australia With Power Shortages

Mar 09, 2017 at 09:29 | Irina Slav

Australia is facing power shortages next year, resulting from a deficit of natural gas, and Prime Minister MalcolmTurnbull is blaming state governments for causing the situation by curbing gas exploration…

Oil Prices Take 5% Hit As U.S. Crude Inventories, Production Soar

Oil Prices Take 5% Hit As U.S. Crude Inventories, Production Soar

Mar 08, 2017 at 17:30 | Zainab Calcuttawala

West Texas Intermediate (WTI) prices dropped five percent to a $50 rate on Wednesday in its biggest dip since September 2015, according to Zero Hedge. Reuters reported that…

Nigerian Economy Pick-Me-Up To Privatize Portions Of Oil Sector

Nigerian Economy Pick-Me-Up To Privatize Portions Of Oil Sector

Mar 08, 2017 at 17:30 | Zainab Calcuttawala

The new blueprint has been designed to comply with demands made by the World Bank and other international lenders who are prepared to fund new energy projects in exchange for…

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