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Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Despite Congress passing new sanctions…

How Long Will the Gold Rally Last?

How Long Will the Gold Rally Last?

Precious metal prices surge, particularly…

News

No Take-Overs In Sight, Says Tullow Oil

No Take-Overs In Sight, Says Tullow Oil

Aug 02, 2016 at 11:18 | Lincoln Brown

Aidan Heavey, the chief executive of Tullow Oil, says that despite the fact that analysts have eyed Tullow as red meat for a takeover, Tullow will remain…

Is Trump Flip-Flopping On Fracking?

Is Trump Flip-Flopping On Fracking?

Aug 02, 2016 at 10:42 | Tsvetana Paraskova

Donald Trump’s latest remarks that local communities should be able to ban fracking have raised eyebrows in the oil industry, straying from the Republican energy strategy and pitching…

Nigeria Resumes Payments To Ex-Rebels Plotting Against Oil Industry

Nigeria Resumes Payments To Ex-Rebels Plotting Against Oil Industry

Aug 02, 2016 at 08:53 | Erwin Cifuentes

The Nigerian government has opted to resume making payments to the former militants as part of a plan to halt armed attacks against oil industry facilities in the…

Exxon Mobil Drops Two Spots to World's Sixth-Most Valuable Company

Exxon Mobil Drops Two Spots to World's Sixth-Most Valuable Company

Aug 01, 2016 at 17:06 | Erwin Cifuentes

Tech companies Amazon and Facebook both surpassed Exxon Mobil to become the world’s fourth- and fifth-most valuable firm based on market capitalization at the close of trading on…

Kuwait To Increase Fuel Prices By Up To 80 Percent In September

Kuwait To Increase Fuel Prices By Up To 80 Percent In September

Aug 01, 2016 at 16:47 | Zainab Calcuttawala

Kuwaiti energy customers will see an up to 80 percent rise in fuel prices on September first, according to an announcement made by the national cabinet on…

Tesla Merges With Solar City In $2.6B Deal

Tesla Merges With Solar City In $2.6B Deal

Aug 01, 2016 at 15:43 | Zainab Calcuttawala

After over a month of deliberations, Tesla and SolarCity have agreed to combine, creating the “world’s only vertically integrated sustainable energy company,” according to a statement released…

Unknown Militants Attack Shell Pipeline In Niger Delta

Unknown Militants Attack Shell Pipeline In Niger Delta

Aug 01, 2016 at 13:30 | Lincoln Brown

No one has claimed responsibility for an attack on a Shell pipeline in the early morning hours in the Niger Delta region on Sunday. The attack came…

Death Toll in Separatist Clashes in Angola’s Oil Province Cabinda Approaches 30

Death Toll in Separatist Clashes in Angola’s Oil Province Cabinda Approaches 30

Aug 01, 2016 at 12:52 | Zainab Calcuttawala

Two rebels and 17 Angolan soldiers died in clashes that occurred in an oil-producing province between government forces and the separatist Front for the Liberation of the…

Iran Expected To Approve New Oil Contract Models This Week

Iran Expected To Approve New Oil Contract Models This Week

Aug 01, 2016 at 10:40 | Lincoln Brown

It’s expected that Iran will approve a new model for oil contracts on Wednesday that should open the door for foreign investors to help the country reestablish…

Statoil To Sell $96 Million In US Shale Assets

Statoil To Sell $96 Million In US Shale Assets

Aug 01, 2016 at 10:11 | Tsvetana Paraskova

Norway’s Statoil said on Monday it would sell some of its non-operated U.S. shale interests in West Virginia to Antero Resources Corporation, in a bid to increase…

Pioneer Boasts $2 Per Barrel Production Costs

Pioneer Boasts $2 Per Barrel Production Costs

Jul 29, 2016 at 18:08 | Lincoln Brown

Scott Sheffield, the chief executive of Pioneer Natural Resources said on Thursday that improved methods of hydraulic fracturing, or fracking, have cut his company’s costs to approximately two…

Robots Help BHP Billiton Save $500M In Oil Development Costs

Robots Help BHP Billiton Save $500M In Oil Development Costs

Jul 29, 2016 at 18:00 | Tsvetana Paraskova

BHP Billiton’s use of robots drills, 3-D seismic maps and drones has cut years off development at oil sites in Trinidad and Tobago and has helped the miner…

Statoil Buys $2.5B Stake in Petrobras Field

Statoil Buys $2.5B Stake in Petrobras Field

Jul 29, 2016 at 13:08 | Irina Slav

Statoil said it has agreed to buy a 66 percent stake in an offshore Petrobras field in the pre-salt layer. The field, Carcara, is located in the…

Chevron Dips Into Red in Q2 on Continued Price Rout

Chevron Dips Into Red in Q2 on Continued Price Rout

Jul 29, 2016 at 09:06 | Irina Slav

Chevron booked a net loss of US$1.47 billion for the second quarter of 2016, on the back of the continued oil price depression. This is down from…

Shell Ready to Get Rid of Woodside Stake

Shell Ready to Get Rid of Woodside Stake

Jul 29, 2016 at 08:53 | Tsvetana Paraskova

Royal Dutch Shell has reclassified its 13.6-percent stake in Australia’s Woodside Petroleum and now considers it as “an asset for sale”, The Australian Financial Review reports, citing…

Natural Gas Surges 8% in Biggest One-Day Rise in 2016

Natural Gas Surges 8% in Biggest One-Day Rise in 2016

Jul 29, 2016 at 08:28 | Tsvetana Paraskova

Natural gas futures soared 8 percent on Thursday, marking their highest one-day jump this year, after government figures showed that the build in the gas inventories last…

Gazprom Considers New LNG Plants Targeting Chinese Market

Gazprom Considers New LNG Plants Targeting Chinese Market

Jul 28, 2016 at 17:22 | Erwin Cifuentes

Gazprom is looking into constructing small-scale liquefied natural gas (LNG) plants in eastern Russia in order to better serve the Chinese market. Igor Maynitskiy, Head of the…

Long-term Outlook for LNG Shipping is Bright but Vessel Shortage Looms

Long-term Outlook for LNG Shipping is Bright but Vessel Shortage Looms

Jul 28, 2016 at 17:16 | Erwin Cifuentes

A new report from Drewry Shipping expects the shipping market for liquefied natural gas (LNG) to strengthen in the next few years and warned that the number of…

Hess Sues Schlumberger over Faulty Valve

Hess Sues Schlumberger over Faulty Valve

Jul 28, 2016 at 14:15 | Lincoln Brown

Hess Corporation has announced it plans to take legal action against Schlumberger. Hess is looking for US$40 million from Schlumberger over claims that the company provided Hess…

Exxon, Petrochina Table Plan To Ramp Iraqi Oil Output By 500,000 Bpd

Exxon, Petrochina Table Plan To Ramp Iraqi Oil Output By 500,000 Bpd

Jul 28, 2016 at 14:11 | Tsvetana Paraskova

ExxonMobil Corp and Petrochina Co. have filed offers to develop two oil fields in southern Iraq, which are expected to pump 550,000 bpd, Iraqi Deputy Oil Minister Fayyad…

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