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Argentina’s Prized Vaca Muerta Shale Could See $10B Exxon Investment

Argentina’s Prized Vaca Muerta Shale Could See $10B Exxon Investment

Jun 03, 2016 at 15:38 | Charles Kennedy

Having already invested $200 million in Argentina’s Vaca Muerta shale — the world’s second-largest shale gas deposit — supermajor ExxonMobil is now saying it may invest at least…

Fresh Attacks in Niger Delta Target Shell, Eni Installations

Fresh Attacks in Niger Delta Target Shell, Eni Installations

Jun 03, 2016 at 10:25 | Charles Kennedy

Niger Delta militants have launched multiple attacks on oil installations over the past 24 hours, reportedly targeting Shell’s Forcados terminal again and additional sections of the AGIP crude…

After Massive Shake Up, President’s Daughter to Head Angola’s Oil Giant

After Massive Shake Up, President’s Daughter to Head Angola’s Oil Giant

Jun 03, 2016 at 09:13 | James Burgess

Long-time Angolan President Jose Eduardo dos Santos has appointed his daughter to lead the oil-rich country’s state-run oil giant Sonangol after firing the entire board and replacing all…

Russia Almost Doubles Gas Exports to the U.K.

Russia Almost Doubles Gas Exports to the U.K.

Jun 03, 2016 at 07:59 | Zainab Calcuttawala

Russian media reports say the county’s gas giant Gazprom has dramatically increased its exports to the United Kingdom during the first five months of 2015, nearly doubling…

Exelon To Shut Down 2 Nuclear Power Plants After $800M In Losses

Exelon To Shut Down 2 Nuclear Power Plants After $800M In Losses

Jun 02, 2016 at 16:00 | Julianne Geiger

Chicago-based Exelon (NYSE: EXC) announced on Thursday that it will close two nuclear power plants in Illinois after being snubbed by state legislature over a bailout request and…

Kinder Morgan Lands Federal Approval To Export LNG From Elba Island

Kinder Morgan Lands Federal Approval To Export LNG From Elba Island

Jun 02, 2016 at 15:34 | Charles Kennedy

U.S. regulators have approved a $306-million Kinder Morgan proposal to add liquefaction and export capability to its Elba Island LNG Terminal, also giving it the go-ahead to…

Five New Oil Blocks Up for Auction in Oman

Five New Oil Blocks Up for Auction in Oman

Jun 02, 2016 at 12:40 | Charles Kennedy

Oman media outlets have reported that the country will be handing out new production-sharing agreements (PSAs) for a potential five oil blocks this fall. Exact locations have not…

EIA Once Again Contradicts API: Reports Crude Draw Of 1.35M Barrels

EIA Once Again Contradicts API: Reports Crude Draw Of 1.35M Barrels

Jun 02, 2016 at 11:48 | Zainab Calcuttawala

The United States Energy Information Administration (EIA) reported a draw of 1.366 million barrels of crude oil on Wednesday, falling short of what experts predicted would be a…

Maduro Accuses U.S. Of Taking Over Venezuela’s Oil

Maduro Accuses U.S. Of Taking Over Venezuela’s Oil

Jun 02, 2016 at 10:20 | James Burgess

The Venezuelan president has accused the U.S. of trying to usurp his country’s oil riches after the head of the Washington-based Organization of American States (OAS) suggested a…

Russian Nuclear Fuel Giant Making A Move In U.S. Markets

Russian Nuclear Fuel Giant Making A Move In U.S. Markets

Jun 02, 2016 at 09:27 | Charles Kennedy

Far from the specific paranoia of the Cold War era, talk now is that Russia’s Rosatom nuclear fuel giant may soon end up supplying 10 percent of U.S.…

Platts Predicts 3.1M Barrel Draw as API Predicts Surprise Build

Platts Predicts 3.1M Barrel Draw as API Predicts Surprise Build

Jun 01, 2016 at 20:04 | Charles Kennedy

Ahead of official U.S. crude oil inventory data, which will be out on Thursday, a day late due to the Memorial Day holidays this week, S&P Global Platts is predicting…

When Oil Revenues Dry Up, ISIS Adapts Quickly with “Religious Tithes”

When Oil Revenues Dry Up, ISIS Adapts Quickly with “Religious Tithes”

Jun 01, 2016 at 17:54 | Zainab Calcuttawala

The Islamic State (ISIS) has been making up for its oil profit losses by increasing the taxes it levies on the people living on territory it still controls.…

EIA: U.S. Uranium Output at Historic Low

EIA: U.S. Uranium Output at Historic Low

Jun 01, 2016 at 17:42 | Zainab Calcuttawala

Most of the United States’ supply of uranium - the life-blood of nuclear power reactors - is imported, according to a new report by the Energy Information…

Appeals Court Overturns Exxon Decision in Favor of Greens

Appeals Court Overturns Exxon Decision in Favor of Greens

Jun 01, 2016 at 17:14 | Zainab Calcuttawala

Federal appeals judges sided with environmental groups over ExxonMobil in a case regarding pollution from the oil giant’s refinery in Baytown, Texas. The plaintiffs – The Sierra Club…

Sierra Club Files Suit Against New Construction of Bakken Pipeline

Sierra Club Files Suit Against New Construction of Bakken Pipeline

Jun 01, 2016 at 16:49 | Zainab Calcuttawala

The Iowa branch of the Sierra Club has filed a lawsuit against the state’s Utilities Board (IUB) and Dakota Access LCC in an effort to block the…

Morocco’s Sole Refinery to Be Liquidated by Court Order

Morocco’s Sole Refinery to Be Liquidated by Court Order

Jun 01, 2016 at 16:33 | Zainab Calcuttawala

SAMIR, Morocco’s sole oil refinery, will be liquidated, according to a decision made by an appeals court this week. The refinery’s holding company, Corral, which launched the appeal…

First Signs Of Labour Problems For The World’s Top Platinum Nation

First Signs Of Labour Problems For The World’s Top Platinum Nation

Jun 01, 2016 at 10:22 | Dave Forest

I wrote last week about the looming problems in South Africa’s platinum sector, with tough contract negotiations with unions coming up for mining companies in the world’s…

Over 20 Oil Majors Sign Up for Mexico’s Most Lucrative Offshore Oil Blocks

Over 20 Oil Majors Sign Up for Mexico’s Most Lucrative Offshore Oil Blocks

Jun 01, 2016 at 10:12 | James Burgess

A total of 21 companies, including the Who’s Who of Big Oil, have registered to take part in Mexico’s deepwater oil auction to be held in December. Shell,…

Niger Delta Militants Blow Up 2 Chevron Oil Wells

Niger Delta Militants Blow Up 2 Chevron Oil Wells

Jun 01, 2016 at 09:49 | Charles Kennedy

In an early Wednesday attack, Niger Delta militants have blown up two Chevron oil wells in Warri, leading a shut down in the wells and promising further output…

BP Oil Cargoes in Limbo at Terminal as Venezuela Can’t Pay its Bills

BP Oil Cargoes in Limbo at Terminal as Venezuela Can’t Pay its Bills

May 31, 2016 at 17:28 | Charles Kennedy

As Venezuela drowns in debt and takes its state-run oil company, PDVSA, down with it, Reuters is reporting that BP has over 2 million barrels of oil…

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