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Will Big Oil See Better Earnings In Q2?

Will Big Oil See Better Earnings In Q2?

The energy sector has underperformed…

The Novel Material Revolutionizing Energy Storage

The Novel Material Revolutionizing Energy Storage

Washington University in St. Louis…

News

The World’s Biggest Miner Just Posted Its Worst-Ever Loss

The World’s Biggest Miner Just Posted Its Worst-Ever Loss

Aug 16, 2016 at 13:32 | Tsvetana Paraskova

BHP Billiton (NYSE:BHP) reported on Tuesday a massive loss of US$6.385 billion for the fiscal year ended June 30, after multi-billion impairments on U.S. shale assets…

Nigeria Oil Losses Reach 900,000 Bpd Due to Militant Attacks

Nigeria Oil Losses Reach 900,000 Bpd Due to Militant Attacks

Aug 16, 2016 at 11:06 | Irina Slav

Nigeria’s losses in daily oil production due to militant attacks have hit 900,000 barrels, said Petroleum Minister Ibe Kachikwu, speaking to CNN. He added that the federal…

Gas Leaks Cause Methane Buildup in Southwest U.S.

Gas Leaks Cause Methane Buildup in Southwest U.S.

Aug 16, 2016 at 09:20 | Irina Slav

The U.S. Southwest has become the location of a significant buildup of methane, a popular greenhouse gas, and the buildup was caused by natural gas leaks, scientists…

Has T. Boone Pickens Timed the Oil Market Just Right?

Has T. Boone Pickens Timed the Oil Market Just Right?

Aug 15, 2016 at 17:46 | Charles Kennedy

It’s a tough business right now for oil and gas companies, with some companies faring better than others with most majors releasing in-the-red second quarter financials, but business…

Mexico Pursues World’s Largest Sovereign Petroleum Hedge

Mexico Pursues World’s Largest Sovereign Petroleum Hedge

Aug 15, 2016 at 17:19 | Zainab Calcuttawala

In what sources say could amount to the “world’s largest sovereign petroleum hedge,” Mexico has been buying oil contracts throughout this summer to lock in 2017 oil…

Premier Oil Set to Announce $3.35B Refinancing Deal

Premier Oil Set to Announce $3.35B Refinancing Deal

Aug 15, 2016 at 17:04 | Tsvetana Paraskova

London-based Premier Oil is close to unveiling a £2.6-billion (around US$3.35 billion) restructuring agreement with lenders as it seeks to avoid defaulting on its loans amid the low…

Omani Firms Cite Low Crude Price as Reason to Fire Expats

Omani Firms Cite Low Crude Price as Reason to Fire Expats

Aug 15, 2016 at 16:45 | Tsvetana Paraskova

Companies in Oman are dismissing expats, using the collapsing crude oil prices as an excuse, while neglecting to hire locals whom they find lacking in skills and experience,…

French Total Lays Off 70 percent Of Its Russian Workforce

French Total Lays Off 70 percent Of Its Russian Workforce

Aug 15, 2016 at 16:35 | Lincoln Brown

The Russian edition of Forbes Magazine is reporting that French Oil giant Total has laid off 70 percent of its Russian workforce through its office in Moscow.…

Iraq’s New Oil Minister Offers Solution to Kurdish Energy Dispute

Iraq’s New Oil Minister Offers Solution to Kurdish Energy Dispute

Aug 15, 2016 at 16:31 | Lincoln Brown

Jabbar al-Luaibi, head of Iraq’s state-run South Oil Company, has been named the new oil minister for Iraq. The Iranian parliament approved the appointment on Monday. According…

Syrian Army Destroys ISIS Oil Tankers in Southern Province

Syrian Army Destroys ISIS Oil Tankers in Southern Province

Aug 15, 2016 at 11:57 | Tsvetana Paraskova

The Syrian Army hit on Saturday an ISIS fuel convoy in the southern province of Sweida, destroying most of the oil tankers, Tehran-based Al Alam International News Channel…

Colombia Suffers 40,000-Job Loss In Energy But Outlook Remains Good

Colombia Suffers 40,000-Job Loss In Energy But Outlook Remains Good

Aug 15, 2016 at 10:59 | Irina Slav

Colombia’s energy sector has shed 40,000 jobs over the last two years, since the oil price rout started, the country’s Labor Minister Clara Lopez told media at…

Gazprom Partners in Nord Stream Quit Merger Talks

Gazprom Partners in Nord Stream Quit Merger Talks

Aug 15, 2016 at 09:30 | Irina Slav

Gazprom’s partners in the Nord Stream-2 pipeline project have given up the merger plan that would have seen Gazprom, Shell, OMV, French Engie, and German Uniper and…

Scotland Uses 100% Wind Energy for A Day

Scotland Uses 100% Wind Energy for A Day

Aug 12, 2016 at 15:49 | Zainab Calcuttawala

Environmentalists rejoiced on Sunday as energy generated by high winds in Scotland was enough to power the entire country for the day, according to a new report by…

Rosneft’s Oil Output Inches Up 0.5 Percent In Q2

Rosneft’s Oil Output Inches Up 0.5 Percent In Q2

Aug 12, 2016 at 14:34 | Tsvetana Paraskova

Russia’s Rosneft reported on Thursday a 0.5-percent sequential increase in its oil production in the second quarter, attributing the rise to increased drilling activity. The Russian giant…

Nigeria Set to Split if North Strikes Oil, says Nigerian President

Nigeria Set to Split if North Strikes Oil, says Nigerian President

Aug 12, 2016 at 14:32 | Tsvetana Paraskova

Nigeria’s former minister of aviation, Femi Fani-Kayode, tweeted on Thursday that President Muhammadu Buhari planned to break up Nigeria if oil is found in the north of…

Kenya Starts Pumping Oil

Kenya Starts Pumping Oil

Aug 12, 2016 at 12:40 | Irina Slav

The Kenyan government said it has approved a plan for the production of between 2,000 and 4,000 barrels of crude daily. The plan includes an upgrade of…

Exxon Re-Routes Crude Oil After Terminal Damage In Niger Delta

Exxon Re-Routes Crude Oil After Terminal Damage In Niger Delta

Aug 12, 2016 at 11:37 | Irina Slav

Exxon has had its fair share of trouble in Nigeria, what with all the militant attacks, and now it is looking for another route to export the…

Chinese EV Maker Throws $1.8B Gauntlet To Tesla

Chinese EV Maker Throws $1.8B Gauntlet To Tesla

Aug 12, 2016 at 09:19 | Irina Slav

Chinese electric vehicle maker LeEco has announced plans to build a large electric car factory worth US$1.8 billion in eastern China. The factory, when it reaches full…

“Emergency Situation” at Belarusian Nuclear Power Plant

“Emergency Situation” at Belarusian Nuclear Power Plant

Aug 11, 2016 at 17:26 | Erwin Cifuentes

An accident in July at the construction site of the first nuclear power plant in Belarus has recently been revealed, according to POWER magazine. Exact details of…

Explosion And Fire Hit Refinery in Louisiana

Explosion And Fire Hit Refinery in Louisiana

Aug 11, 2016 at 17:13 | Evan Kelly

Eyewitnesses claim the incident at the town of Convent in St. John’s Parish first occurred at around 11:00 am Eastern Time. The facility’s switchboard operator mentioned the fire…

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