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News

ISIS Oil Tanks Destroyed By Syrian Army

ISIS Oil Tanks Destroyed By Syrian Army

Sep 02, 2016 at 11:46 | Irina Slav

A series of air strikes conducted by the Syrian army across the country ended with scores of militants dead and various vehicles destroyed, including a caravan of…

Japan Considers Buying $10 Billion Chunk of Rosneft

Japan Considers Buying $10 Billion Chunk of Rosneft

Sep 02, 2016 at 09:03 | Irina Slav

The Japanese government could become a shareholder in Russia’s oil giant Rosneft, as part of a broad cooperation in the energy sector. The investment that will go…

Shell Becomes First Company to Join Mexican Hedging Program

Shell Becomes First Company to Join Mexican Hedging Program

Sep 01, 2016 at 17:39 | Zainab Calcuttawala

Royal Dutch Shell has begun participating in Mexico’s massive hedge against low oil prices in 2017, according to four sources cited by Bloomberg on Thursday. The move…

Nuclear Deal Commission Granted Iran Exemptions To Allow Lifting Of Sanctions

Nuclear Deal Commission Granted Iran Exemptions To Allow Lifting Of Sanctions

Sep 01, 2016 at 17:24 | Zainab Calcuttawala

“Secret” exceptions to the terms of the Iranian nuclear deal have allowed Iran to evade some of the restrictions negotiated by the United States and its partners last…

U.S. Manufacturing Declines After 5 Straight Months Of Modest Growth

U.S. Manufacturing Declines After 5 Straight Months Of Modest Growth

Sep 01, 2016 at 17:14 | Zainab Calcuttawala

The American manufacturing industry declined in August after five consecutive months of growth as producers deal with the consequences of low oil prices and a weak global…

Nigeria Lifts Forex Ban On Banks Failing To Remit Billions In Oil Money

Nigeria Lifts Forex Ban On Banks Failing To Remit Billions In Oil Money

Sep 01, 2016 at 16:16 | Tsvetana Paraskova

The Central Bank of Nigeria (CBN) has readmitted nine banks to the interbank forex market after having suspended them last week for not paying some oil money to…

Chevron Launches Offshore Natural Gas Production In Indonesia

Chevron Launches Offshore Natural Gas Production In Indonesia

Sep 01, 2016 at 14:13 | Tsvetana Paraskova

Chevron has started its first natural gas production from the Bangka Field Development Project off the Indonesian coast, the group’s subsidiary Chevron Indonesia Company Ltd said in a…

Kirkuk Refuses Baghdad’s Plan To Export Its Oil To Iran In Trucks

Kirkuk Refuses Baghdad’s Plan To Export Its Oil To Iran In Trucks

Sep 01, 2016 at 13:49 | Zainab Calcuttawala

Kirkuk will not allow the Iraqi government to ship its fuel to Iran via trucks if negotiations between the Kurdish Regional Government and Baghdad over oil exports fail…

Radioactive Waste Found at Oil Field Landfill in North Dakota

Radioactive Waste Found at Oil Field Landfill in North Dakota

Sep 01, 2016 at 11:56 | Irina Slav

As if North Dakota hasn’t been the topic of numerous oil news headlines in recent weeks, it’s making headlines again—this time for some radioactive nuclear elements that was…

The UN Backs Tribal Opposition To Dakota Access Pipeline

The UN Backs Tribal Opposition To Dakota Access Pipeline

Sep 01, 2016 at 10:40 | Irina Slav

The UN Permanent Forum on Indigenous Issues has backed a claim by the Standing Rock Sioux tribe that it should have a say in the construction of…

Election Results In OPEC’s Newest Member State Spark Violent Protests

Election Results In OPEC’s Newest Member State Spark Violent Protests

Sep 01, 2016 at 09:10 | Irina Slav

Clashes between supporters of Gabon’s opposition leader Jean Ping and security forces that began on Wednesday culminated in a fire set to the National Assembly building of…

Citigroup’s Ed Morris Sees Potential For $65 Brent By The End Of 2017

Citigroup’s Ed Morris Sees Potential For $65 Brent By The End Of 2017

Aug 31, 2016 at 17:54 | Lincoln Brown

Oil executives should brace for a slow oil price recovery, according to leading industry analyst Ed Morse, who sees Brent prices reaching $65 a barrel at the end…

Libya Attacks Humanitarians Mistaken for Oil Smugglers

Libya Attacks Humanitarians Mistaken for Oil Smugglers

Aug 31, 2016 at 16:56 | Erwin Cifuentes

The Libyan navy on 17 August fired shots against a rescue boat run by Medicines Sans Frontieres (MSF), which they mistook for oil smugglers, according to the…

Norwegian Oil And Gas To See A $50 Billion Cut In Investment

Norwegian Oil And Gas To See A $50 Billion Cut In Investment

Aug 31, 2016 at 16:55 | Zainab Calcuttawala

The Norwegian oil and gas industry will see $50 billion less in capital investment from 2016-2020 than previously forecasted as a result of cancelled or delayed projects,…

Delek Mulls Over Up To $4B IPO of Tamar Gas Field Stake

Delek Mulls Over Up To $4B IPO of Tamar Gas Field Stake

Aug 31, 2016 at 16:36 | Tsvetana Paraskova

Israeli conglomerate Delek Group Ltd is weighing the possibility to launch an overseas initial public offering (IPO) of its 31-percent stake in the large Tamar gas field offshore…

New Hope For Nuclear Power In Japan

New Hope For Nuclear Power In Japan

Aug 31, 2016 at 16:32 | Zainab Calcuttawala

Tokyo Electric Power Co. Holdings Inc.’s (TEPCO) plan to restart the defunct Kashiwazaki-Kariwa nuclear power plant has an increased chance of being implemented after the prefecture governor, who has…

Saudi Aramco In Talks To Build Refinery in China

Saudi Aramco In Talks To Build Refinery in China

Aug 31, 2016 at 12:56 | Tsvetana Paraskova

Saudi Aramco is negotiating with China National Petroleum Corporation (CNPC) to build a refinery in China, Aramco chairman Khalid al-Falih, who is also Saudi Arabia’s energy minister,

Saudi Energy Minister Stokes OPEC Rumors With Output Comments

Saudi Energy Minister Stokes OPEC Rumors With Output Comments

Aug 31, 2016 at 12:02 | Tsvetana Paraskova

Saudi Arabia will continue to pursue a production policy that “will maintain a large degree of responsibility”, Energy Minister Khalid al-Falih told Saudi-owned TV Al Arabiya on…

Petrobras Gets $11 Billion In Freed-Up Cash From Statoil

Petrobras Gets $11 Billion In Freed-Up Cash From Statoil

Aug 31, 2016 at 11:46 | Irina Slav

Brazil’s embattled state oil giant Petrobras will get access to some US$11 billion in cash following the sale of exploration and production rights to the Carcara field…

Scottish Oil Experts Scold Shell for Platform Abandonment Plans

Scottish Oil Experts Scold Shell for Platform Abandonment Plans

Aug 31, 2016 at 09:41 | Irina Slav

Two renowned oil industry experts from Scotland have vigorously criticized Shell’s plans to leave major parts of four platforms in the Brent field standing when it decommissions the…

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