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News

Oil Crisis Pushes Houston Office Vacancy Rates to 20-Year High

Oil Crisis Pushes Houston Office Vacancy Rates to 20-Year High

Jul 08, 2016 at 14:03 | Irina Slav

The fallout of the oil price crisis has proved to have wide-reaching implications beyond the energy industry. Houston real estate is one of these scathed by the developments…

Cheap Gas’ Latest Victim is Fuel Economy

Cheap Gas’ Latest Victim is Fuel Economy

Jul 08, 2016 at 11:31 | Irina Slav

Falling prices at the pump have given motorists reason to rejoice continuously over the last year and a half, but they’re not good news for everyone. At least,…

China finds gas field with 100 billion accessible cubic meters

China finds gas field with 100 billion accessible cubic meters

Jul 08, 2016 at 10:44 | Lincoln Brown

China’s Xinhua news service is reporting the discovery of a large natural gas field in the Guizhou Province, located in the southwest part of the country. According…

Libya Moves to Reopen Two Shuttered Terminals

Libya Moves to Reopen Two Shuttered Terminals

Jul 08, 2016 at 09:14 | Lincoln Brown

Libya is working to get crude oil flowing out of two shuttered terminals. Libya’s oil guards will work with the National Oil Corporation (NOC), the unity government’s…

Fire at Yemeni Gas Facility Kills One

Fire at Yemeni Gas Facility Kills One

Jul 07, 2016 at 17:57 | Erwin Cifuentes

At least one person died and four others were seriously injured following a fire at a domestic gas storage facility at the Marib province of Yemen on…

Sonangol Stops Asset Sales Discussions

Sonangol Stops Asset Sales Discussions

Jul 07, 2016 at 17:29 | Erwin Cifuentes

Angolan state-owned oil firm Sonangol will reportedly halt all talks related to the potential sale of assets. The decision has been made by the company’s new CEO, Isabel…

Cuba, U.S., Mexico Meet to Set Gulf of Mexico Borders

Cuba, U.S., Mexico Meet to Set Gulf of Mexico Borders

Jul 07, 2016 at 16:58 | Zainab Calcuttawala

Representatives from Mexico, the United States and Cuba met to negotiate the borders of the Western Polygon - a region in the Gulf of Mexico with sizable oil…

New Challengers for Lithium-Ion Batteries About To Enter The Market

New Challengers for Lithium-Ion Batteries About To Enter The Market

Jul 07, 2016 at 15:33 | Irina Slav

Lithium-ion batteries have brought about a real lithium craze and now a new generation of rivals are emerging – some of them also lithium-based – that may take…

Niger Delta Avengers Deny Responsibility For Eleme Attacks

Niger Delta Avengers Deny Responsibility For Eleme Attacks

Jul 07, 2016 at 15:06 | Zainab Calcuttawala

The militant group Niger Delta Avengers denied allegations that it carried out an attack on the Nigerian National Petroleum Corporation’s pipeline in Eleme on Tuesday, insisting that…

Saipem Secures Deal to Develop Giant Zohr Field

Saipem Secures Deal to Develop Giant Zohr Field

Jul 07, 2016 at 13:45 | Lincoln Brown

Saipem, an Italian offshore contractor, has won the rights to an engineering, procurement, construction and installation contract in the Zohr gas field in the Mediterranean Sea off…

U.S. Crude Inventories Down 2.2 Million Barrels – EIA

U.S. Crude Inventories Down 2.2 Million Barrels – EIA

Jul 07, 2016 at 11:12 | Irina Slav

The Energy Information Agency repored that U.S. commercial crude oil inventories declined by 2.2 million barrels in the week to July 1, standing at 524.4 million barrels. The…

Clinton Email Scandal: Has Putin Played All His Cards?

Clinton Email Scandal: Has Putin Played All His Cards?

Jul 07, 2016 at 10:53 | Irina Slav

“All animals are equal but some are more equal than others.” This brutal quote from George Orwell’s Animal Farm comes to mind instinctively in light of the latest…

Kinder Morgan, Nucor Sign 10-Year Deal

Kinder Morgan, Nucor Sign 10-Year Deal

Jul 07, 2016 at 09:13 | Lincoln Brown

On Wednesday, Kinder Morgan (KMI) announced that it had reached a US$900-million deal to provide in-plant services to five Nucor plants. The plants are located in Decatur,…

Oil Spikes After Biggest Inventory Draw In 13 Months

Oil Spikes After Biggest Inventory Draw In 13 Months

Jul 06, 2016 at 16:47 | ZeroHedge

After six straight weeks of drawdowns and against expectations of a 2.5mm barrel build, API reported a massive 6.736mm barrel drawdown - the biggest since June…

Greece’s Energean Gets US$20-Million Loan From EBRD

Greece’s Energean Gets US$20-Million Loan From EBRD

Jul 06, 2016 at 16:26 | Zainab Calcuttawala

Energean Oil&Gas, Greece’s single oil and gas producer, will receive a US$20-million loan from the European Bank for Reconstruction and Development to support existing and planned projects, according…

First Nation Tribes in Canada Secure Victory Against Enbridge

First Nation Tribes in Canada Secure Victory Against Enbridge

Jul 06, 2016 at 16:16 | Zainab Calcuttawala

First Nation tribes in Canada secured a court victory against oil major Enbridge’s plan to build a pipeline transporting crude from Alberta to British Columbia, according to a…

Centerra Buys Thompson Creek in US$1.1 Billion Deal

Centerra Buys Thompson Creek in US$1.1 Billion Deal

Jul 06, 2016 at 16:16 | Erwin Cifuentes

Toronto-based Centerra Gold will purchase Thompson Creek Metals Co. in a deal valued at US$1.1 billion, Bloomberg reports. The transaction will include a US$135 million stock swap…

Latest Pipeline Bombing Adds to Industry Woes in Colombia

Latest Pipeline Bombing Adds to Industry Woes in Colombia

Jul 06, 2016 at 15:11 | Lincoln Brown

The government of Colombia and the National Liberation Army (ELN) rebels announced plans to begin peace talks in March but the situation between the two entities has remained…

Nigerian Militants Continue Strikes Against Oil Facilities

Nigerian Militants Continue Strikes Against Oil Facilities

Jul 06, 2016 at 12:47 | Erwin Cifuentes

Armed secessionists have purportedly struck against Nigerian energy facilities in the oil-rich Niger Delta region for the second time in two days, according to AllAfrica. The latest…

Tullow Oil Issues $300M in Fresh Debt, Stock Dives

Tullow Oil Issues $300M in Fresh Debt, Stock Dives

Jul 06, 2016 at 11:40 | Irina Slav

UK-based exploration company Tullow Oil announced today that it has issued a convertible bond to the tune of US$300 million maturing in 2012. The announcement hit Tullow’s…

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