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News

Equatorial Guinea Faces Bleak GDP Prospects As Crude Price Bites

Equatorial Guinea Faces Bleak GDP Prospects As Crude Price Bites

Sep 09, 2016 at 10:50 | Tsvetana Paraskova

Equatorial Guinea’s economy is expected to shrink by a massive 10 percent in 2016 -- after having already contracted by 7.4 percent last year -- as low oil…

Declining Oil Prices A Factor In The Decrease In Piracy

Declining Oil Prices A Factor In The Decrease In Piracy

Sep 09, 2016 at 10:36 | Lincoln Brown

While the industry has struggled to find ways to cope with the decline in oil prices, there has been one positive note: the dip in crude prices has…

Nigerian Army Destroys 74 Illegal Oil Refineries In Niger Delta

Nigerian Army Destroys 74 Illegal Oil Refineries In Niger Delta

Sep 09, 2016 at 10:13 | Tsvetana Paraskova

Nigerian Army troops have destroyed 74 illegal oil refineries as well as camps of militants in the country’s oil-rich Niger Delta, the Army tweeted on Friday. As…

Norway Dismisses Rumors Regarding Lift of Drilling Ban on Arctic Islands

Norway Dismisses Rumors Regarding Lift of Drilling Ban on Arctic Islands

Sep 08, 2016 at 17:40 | Zainab Calcuttawala

The Norwegian government dismissed reports on Thursday that it might lift bans on oil and gas exploration near picturesque islands in the Arctic Ocean before elections in 2017.…

Argentina Considering Energy Partnership With Britain Over Falklands

Argentina Considering Energy Partnership With Britain Over Falklands

Sep 08, 2016 at 17:22 | Erwin Cifuentes

Argentine Foreign Minister Susana Malcorra stated that her country would be willing to engage in a joint fossil fuels exploration project with Britain near the disputed Falklands Islands.…

Top Saudi, Algerian Officials To Discuss Output Deal With OPEC Chief

Top Saudi, Algerian Officials To Discuss Output Deal With OPEC Chief

Sep 08, 2016 at 17:02 | Tsvetana Paraskova

As oil producers are moving to reconcile their previously irreconcilable stances on a global output freeze deal, OPEC’s secretary-general Mohammed Barkindo will be meeting the Saudi and Algerian…

Federal Reserve: Mixed Results For U.S. Energy Sector

Federal Reserve: Mixed Results For U.S. Energy Sector

Sep 08, 2016 at 14:38 | Erwin Cifuentes

Demand for energy-related products and services declined even though there are signs of stabilization, according to the United States Federal Reserve’s most recent business activity survey published…

Nigeria Risks Total Distress If Oil & Gas Problems Not Addressed: Oil Manager

Nigeria Risks Total Distress If Oil & Gas Problems Not Addressed: Oil Manager

Sep 08, 2016 at 12:25 | Tsvetana Paraskova

Nigeria may “plunge in total distress” if it does not take urgent measures to start solving its economic and oil and gas industry woes, Thomas Dada, founder and…

Iran And Iraq To Increase Oil Output Despite OPEC Meeting In September

Iran And Iraq To Increase Oil Output Despite OPEC Meeting In September

Sep 08, 2016 at 11:41 | Julianne Geiger

Iran and Iraq have served up the latest round of comments on the highly anticipated—and highly analyzed—OPEC meeting in Algiers that many hope will end with a freeze…

EIA Sees OPEC Crude Output Rising In 2016 And 2017

EIA Sees OPEC Crude Output Rising In 2016 And 2017

Sep 08, 2016 at 11:05 | Tsvetana Paraskova

OPEC’s crude oil production is expected to grow to 32.41 million bpd this year from 31.76 million bpd in 2015, with higher Iranian output accounting for most of…

Suncor Looks To Abandon Oil Sands Assets

Suncor Looks To Abandon Oil Sands Assets

Sep 08, 2016 at 10:38 | Lincoln Brown

Canada’s largest oil producer is looking to abandon some of its high-cost and greenhouse gas intensive oil sands assets, according to Suncor Energy’s CEO Steve Williams. Williams…

Cash Runs Low For S&P Oil And Gas Majors, Dividends Sparse

Cash Runs Low For S&P Oil And Gas Majors, Dividends Sparse

Sep 08, 2016 at 09:14 | Zainab Calcuttawala

Chronically low oil prices have caused American oil and gas majors in the S&P 500 to lose billions of dollars from their cash reserves, according to a new…

API: U.S. Crude Inventories See Biggest Draw Since 1999

API: U.S. Crude Inventories See Biggest Draw Since 1999

Sep 07, 2016 at 17:28 | Zainab Calcuttawala

U.S. crude inventories collapsed by 12 million barrels this week, marking the largest inventory draw since January 1999, according to analysis of this week’s American Petroleum Institute inventory…

Nigerian Military Captures Suspected Niger Delta Avengers Chief

Nigerian Military Captures Suspected Niger Delta Avengers Chief

Sep 07, 2016 at 17:15 | Erwin Cifuentes

The Nigerian military reported today that they have captured the suspected leader of the Niger Delta Avengers (NDA), a rebel group that has targeted oil and gas infrastructure…

Turkey Prepared To Conduct Joint Attack With U.S. Against ISIS In Raqqa

Turkey Prepared To Conduct Joint Attack With U.S. Against ISIS In Raqqa

Sep 07, 2016 at 17:10 | Zainab Calcuttawala

Turkish President Recep Tayyip Erdogan dropped hints on Wednesday that the United States and Turkey were prepared to invade Raqqa, Syria - the Islamic State’s de facto capital.…

The U.S. Proposes Strategic Petroleum Reserve Modernization Plan

The U.S. Proposes Strategic Petroleum Reserve Modernization Plan

Sep 07, 2016 at 16:47 | Erwin Cifuentes

The White House proposed modernizing the Strategic Petroleum Reserve (SPR) as part of a plan that could cost as much as US$2billion, the United States Department of Energy…

France’s Trade Deficit Widens On Surging Oil Imports

France’s Trade Deficit Widens On Surging Oil Imports

Sep 07, 2016 at 15:09 | Tsvetana Paraskova

France’s trade deficit jumped in July compared to June as the country’s crude oil imports soared after strikes and riots had blocked French oil refineries in May and…

FLEC Claims Responsibility For 12 deaths In Angolan Oil Field Clash

FLEC Claims Responsibility For 12 deaths In Angolan Oil Field Clash

Sep 07, 2016 at 13:06 | Lincoln Brown

The Front for Liberation for the Enclave of Cabinda, or FLEC, claims that it is responsible for the deaths of 12 soldiers in the Angolan oil fields this…

Norway’s Giant Oil Fund Excludes Duke Energy on Environment Concerns

Norway’s Giant Oil Fund Excludes Duke Energy on Environment Concerns

Sep 07, 2016 at 10:59 | Tsvetana Paraskova

The world’s largest sovereign wealth fund, Norway’s US$870-billion oil fund, said that it excludes, effective Wednesday, Duke Energy Corp (NYSE:DUK) and three subsidiaries from its investment…

Do These Government Threats Show A Super Spike For Nickel Next Week?

Do These Government Threats Show A Super Spike For Nickel Next Week?

Sep 07, 2016 at 09:38 | Dave Forest

Things are about to get very serious in the world’s top nickel-producing nation. That’s the message this week coming from lawmakers in the Philippines. With the country’s mines…

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