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News

Short Interest Data Looks Hopeful for NYSE-Listed Oil Majors

Short Interest Data Looks Hopeful for NYSE-Listed Oil Majors

Aug 10, 2016 at 17:13 | Zainab Calcuttawala

New York-listed oil and gas majors have listed their short interest data for the 29 July settlement date, shedding light on investor’s opinions on whether energy stock prices…

Shell Declares Force Majeure For Gas Supplies to Massive Bonny Island Facility

Shell Declares Force Majeure For Gas Supplies to Massive Bonny Island Facility

Aug 10, 2016 at 15:09 | Zainab Calcuttawala

Shell has declared a force majeure on gas supplies destined for the massive gas facility on Bonny Island – a site co-owned by the Anglo-Dutch firm and…

Kremlin Bans Any Internal Rosneft Shareholder Deals Before Privatization

Kremlin Bans Any Internal Rosneft Shareholder Deals Before Privatization

Aug 10, 2016 at 11:10 | Irina Slav

The Kremlin has banned Rosneft’s shareholders from closing deals among themselves before the privatization of as much as 20 percent in the state giant goes through, which…

A First: U.S. Special Ops On-Ground in Libya

A First: U.S. Special Ops On-Ground in Libya

Aug 10, 2016 at 10:23 | Tsvetana Paraskova

For the first time, elite U.S. Special Operations troops are directly helping fighters combat against ISIS in Libya with on-site support, The Washington Post reported on Tuesday,…

Suncor Makes Third Acquisition This Year, While Rest Of Big Oil Is Selling

Suncor Makes Third Acquisition This Year, While Rest Of Big Oil Is Selling

Aug 10, 2016 at 09:41 | Irina Slav

While everyone in Big Oil seems to be divesting to stay afloat, Suncor has agreed to their third large acquisition this year, after ramping up its interest in…

API Reports Biggest Crude Oil Build in 3 Months, Significant Gasoline Draw

API Reports Biggest Crude Oil Build in 3 Months, Significant Gasoline Draw

Aug 09, 2016 at 16:59 | Charles Kennedy

Adding another shock to the already volatile market in contradiction of analyst expectations, the American Petroleum Institute (API) is reporting a significant increase today in its weekly…

EIA Revises Oil Demand Forecast Up For 2016 And Down For 2017

EIA Revises Oil Demand Forecast Up For 2016 And Down For 2017

Aug 09, 2016 at 16:54 | Erwin Cifuentes

The demand for oil will likely increase for this year but dip in 2017, according to the latest “Short-Term Energy Outlook” released on Tuesday by the United States…

Kurds Reportedly Delaying Oil Deal with Iran

Kurds Reportedly Delaying Oil Deal with Iran

Aug 09, 2016 at 16:09 | Erwin Cifuentes

Kurdish authorities are reportedly holding up the final details of an oil agreement with Iran, according to PRESS TV. Citing information from Rudaw, a Kurdish media group…

Nigerian Militants Kill Three Soldiers in Oil-Rich Bayelsa State

Nigerian Militants Kill Three Soldiers in Oil-Rich Bayelsa State

Aug 09, 2016 at 14:39 | Tsvetana Paraskova

In the latest deadly attack in the restive Niger Delta, militants have killed three soldiers in an ambush in one of Nigeria’s oil state, Bayelsa, local media…

Chevron Vindicated On $9.5B lawsuit by Ecuador… Again

Chevron Vindicated On $9.5B lawsuit by Ecuador… Again

Aug 09, 2016 at 13:08 | Tsvetana Paraskova

A U.S. appeals court blocked on Monday the enforcement of a US$9.5-billion judgment against Chevron Corporation (NYSE:CVX), upholding a lower court ruling that had found that…

Why Iran’s Oil Exports To India May See a Steep Dive

Why Iran’s Oil Exports To India May See a Steep Dive

Aug 09, 2016 at 11:15 | Irina Slav

A 49 percent stake buy by Russia’s Rosneft in Indian Essar Oil will see the Indian company reduce its purchases of Iranian crude oil, according to Essar Oil’s…

BP Looks for US$2-3B In Chinese Stake Sale

BP Looks for US$2-3B In Chinese Stake Sale

Aug 09, 2016 at 09:58 | Irina Slav

BP has put up for sale its 50 percent stake in Chinese SECCO, a joint venture with local energy major Sinopec, eyeing revenues of US$2-3 billion, sources close…

Coalition Air Strike Wipes Out 80+ ISIS Oil Tank Trucks

Coalition Air Strike Wipes Out 80+ ISIS Oil Tank Trucks

Aug 09, 2016 at 08:58 | Irina Slav

A coalition forces air strike in Syria has destroyed 83 oil tank trucks used by ISIS to transport crude, which is the group’s major source of funding.…

20 Months, 90 Bankruptcies In North-American Oil & Gas

20 Months, 90 Bankruptcies In North-American Oil & Gas

Aug 08, 2016 at 18:11 | Erwin Cifuentes

A report published earlier this month by Haynes and Boone found that ninety gas and oil producers in the United States (US) and Canada have filed for…

More Angolan Soldiers Reportedly Killed in Oil-Rich Cabinda Area

More Angolan Soldiers Reportedly Killed in Oil-Rich Cabinda Area

Aug 08, 2016 at 17:59 | Erwin Cifuentes

At least ten Angolan soldiers were killed during the last clash with the Front for the Liberation of the Enclave of Cabinda (FLEC) in the oil-rich Cabinda enclave,…

Iran Begins Shipping Euro 4 Compliant Oil

Iran Begins Shipping Euro 4 Compliant Oil

Aug 08, 2016 at 12:32 | Lincoln Brown

The National Iranian Oil Products Distribution Company (NIOPDC) has announced that the country has deployed its first Euro 4-compliant gas oil shipment to global markets. Mahmoud Taherizadeh,…

Libyan Militia Attacks Oil Terminal

Libyan Militia Attacks Oil Terminal

Aug 08, 2016 at 11:02 | Irina Slav

Operation Dignity, a Libyan militia, has attacked the Zueitina oil terminal near Benghazi, local media report. The attack, which took place on Friday, was repelled by Petroleum…

Decades-old $1.2B Back Bill for Iranian Oil Comes Back to Haunt Israel

Decades-old $1.2B Back Bill for Iranian Oil Comes Back to Haunt Israel

Aug 08, 2016 at 10:24 | Tsvetana Paraskova

An arbitration court has ordered Israeli-held Trans-Asiatic Oil (TAO) to pay US$1.2 billion to Iran for oil that the National Iranian Oil Company (NIOC) had delivered to Israel…

Iran Executes Nuclear Scientist

Iran Executes Nuclear Scientist

Aug 08, 2016 at 08:53 | Irina Slav

Iranian authorities have confirmed the execution of nuclear scientist Shahram Amiri, who was accused of treason and divulging sensitive information about the country’s nuclear program to U.S.…

EOG Resources Boosts Fracking Plan by 30 Percent

EOG Resources Boosts Fracking Plan by 30 Percent

Aug 06, 2016 at 10:00 | Erwin Cifuentes

EOG Resources planned fracking will revise its plans upward by 30 percent in 2016, despite the price of oil falling below the US$40 per barrel mark. As reported…

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