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News

Exxon Starts Drilling Offshore West Africa

Exxon Starts Drilling Offshore West Africa

Nov 23, 2016 at 16:08 | Tsvetana Paraskova

ExxonMobil Exploration and Production Liberia Limited, an affiliate of ExxonMobil (NYSE:XOM), has started drilling a deepwater exploration well offshore West Africa in a first for an Exxon-operated well offshore…

India’s 5.5 Billion Investment In Iran Will Raise Refinery Capacity

India’s 5.5 Billion Investment In Iran Will Raise Refinery Capacity

Nov 23, 2016 at 15:45 | Zainab Calcuttawala

A $5.5 billion investment by the Indian Oil Corporation (IOC) will raise the capacity of the firm’s smallest refinery co-owned by Iran to 300,000 barrels per day, according to…

4 Nigerian Security Officers Killed While Guarding Oil & Gas Pipeline

4 Nigerian Security Officers Killed While Guarding Oil & Gas Pipeline

Nov 23, 2016 at 15:29 | Irina Slav

Four officers from the Nigerian Security and Civil Defence Corps (NSCDC) were killed yesterday by unidentified gunmen while on duty guarding an oil and gas facility operated by the…

Mexico To Reap $2.9 Billion In Profits From Oil Price Hedges In 2016

Mexico To Reap $2.9 Billion In Profits From Oil Price Hedges In 2016

Nov 23, 2016 at 11:12 | Zainab Calcuttawala

The Mexican government can expect a $2.9 billion profit from the oil price hedges it set up in 2016 – marking the second consecutive year the North American country…

North Sea Mini Glut Slims Down: Crude Shipped To Asia

North Sea Mini Glut Slims Down: Crude Shipped To Asia

Nov 23, 2016 at 09:14 | Irina Slav

A 12-million-barrel glut of North Sea oil is about to be partially slimmed down thanks to new tanker bookings bound for Asia. According to Bloomberg, about half a million…

Tesla Just Powered An Entire Pacific Island With Solar Energy

Tesla Just Powered An Entire Pacific Island With Solar Energy

Nov 23, 2016 at 09:00 | Tsvetana Paraskova

SolarCity, now officially part of Tesla, is powering a tiny island in American Samoa with only solar energy, SolarCity said in a blog post on Tuesday. The island…

Oil Slips After API Gasoline Inventory Build, Minor Crude Draw

Oil Slips After API Gasoline Inventory Build, Minor Crude Draw

Nov 22, 2016 at 16:57 | Zainab Calcuttawala

This week’s American Petroleum Institute (API) report shows a 2.68 million barrel gasoline build – largely surpassing estimates of a modest 900,000-barrel increase in inventories. Before the release, experts had…

Canada’s Wells Drilled To Rise in 2017, But Recovery Still An Effort

Canada’s Wells Drilled To Rise in 2017, But Recovery Still An Effort

Nov 22, 2016 at 16:54 | Tsvetana Paraskova

The number of wells drilled in Canada is expected to increase by 31 percent next year compared to this year, but weak commodity prices coupled with “abnormal” political and social…

GMC, Chevrolet Boost Alternative Fuel Vehicle Offers

GMC, Chevrolet Boost Alternative Fuel Vehicle Offers

Nov 22, 2016 at 16:41 | Tsvetana Paraskova

GMC and Chevrolet will be expanding their alternative-fuel vehicle lineup with heavy-duty pickups and full-size vans in the first quarter of 2017, under a partnership with alternative-fuel powertrain solutions…

60 Percent Of Russian Gas Pipelines Outdated, Expert Says

60 Percent Of Russian Gas Pipelines Outdated, Expert Says

Nov 22, 2016 at 15:22 | Tsvetana Paraskova

A total of 60 percent of all gas pipelines operating in Russia are between 40 and 50 years old, a manager at a Russian gas equipment repair company has…

Court Hearings Begin On Alleged Shell Pollution In Nigeria

Court Hearings Begin On Alleged Shell Pollution In Nigeria

Nov 22, 2016 at 12:20 | Irina Slav

The High Court of Great Britain today began a hearing on two cases brought to it by two communities from the Niger Delta alleging that oil spills from Shell-operated fields…

Saudi Arabia Invites Egypt To Discuss Suspended Oil Shipments

Saudi Arabia Invites Egypt To Discuss Suspended Oil Shipments

Nov 22, 2016 at 09:18 | Irina Slav

Tarek El Molla, Egypt’s Oil Minister, is in Saudi Arabia for the 14th International Arab Conference for Mineral Resources, media reported, noting that El Molla was invited to the…

Canada Vows To Abandon Coal By 2030

Canada Vows To Abandon Coal By 2030

Nov 21, 2016 at 17:43 | Zainab Calcuttawala

As United States President-elect Donald Trump vows to revive the nation’s waning coal industry, the North American country’s northern neighbor announced new plans to speed up the abandonment of…

Potential Dakota Access Pipeline Merger Sees Stock Fall 8 Percent

Potential Dakota Access Pipeline Merger Sees Stock Fall 8 Percent

Nov 21, 2016 at 17:30 | Zainab Calcuttawala

News of a potential merger between Sunoco Logistics and Energy Transfer Partners (ETP) – the company behind the controversial Dakota Access Pipeline – caused stock prices for both firms to…

Libya Continues To Boost Production As OPEC Nears Freeze Deal

Libya Continues To Boost Production As OPEC Nears Freeze Deal

Nov 21, 2016 at 17:22 | Zainab Calcuttawala

Libya-based Waha Oil Co reached a production rate of 75,000 barrels per day and expects output to increase in the coming weeks, according to recent reporting by Reuters. The…

Oil Majors Stay Out Of India’s Small Fields Bidding Round

Oil Majors Stay Out Of India’s Small Fields Bidding Round

Nov 21, 2016 at 16:31 | Tsvetana Paraskova

Global oil and gas giants such as BP, ExxonMobil and Chevron, as well as major Indian companies ONGC and Reliance Industries, have not submitted offers in India’s tender for…

Eni To Invest $8 Billion In Offshore Gas Field In Mozambique

Eni To Invest $8 Billion In Offshore Gas Field In Mozambique

Nov 21, 2016 at 13:27 | Tsvetana Paraskova

Italy’s oil and gas major Eni SpA (NYSE:E) approved on Friday the investment plan for the first phase of development of the Coral gas discovery in deep waters…

Canada Has Oil For Asia, But Can’t Ship It

Canada Has Oil For Asia, But Can’t Ship It

Nov 21, 2016 at 12:55 | Irina Slav

The export market expansion ambitions of Canadian oil sands producers could soon hit a wall of capacity problems at the port of Vancouver, according to shipping brokers cited by…

Iran And Russia Continue To Strengthen Oil Ties

Iran And Russia Continue To Strengthen Oil Ties

Nov 21, 2016 at 10:45 | Irina Slav

Three Russian companies have signed contracts for oil field development with the National Iranian Oil Company, a senior NIOC manager told media. Gholam-Reza Manouchehri, deputy managing director of NIOC,

Iraqi Firefighters Still Battling With ISIS Oil Fires

Iraqi Firefighters Still Battling With ISIS Oil Fires

Nov 21, 2016 at 09:34 | Irina Slav

Iraqi oil wells, which the Islamic State has been setting on fire since August in its retreat from northern Iraq, are still burning, making life difficult for firefighters and…

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