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News

Niger Delta Group Bombs Pipeline Despite Ceasefire

Niger Delta Group Bombs Pipeline Despite Ceasefire

Sep 14, 2016 at 09:17 | Lincoln Brown

More violence in the Niger Delta Region has been reported, at the hands of a militant group called The Niger Delta Greenland Justice Mandate (NDGJM). The group…

Oil Stabilizes After API Reports Lower Than Expected Build In Crude Stocks

Oil Stabilizes After API Reports Lower Than Expected Build In Crude Stocks

Sep 13, 2016 at 17:25 | Charles Kennedy

The American Petroleum Institute (API) is reporting a 1.4-million-build in US crude oil inventory over last week—bursting the bubble created the week before when official data showed the…

Western Powers Call for Libyan Unity, Condemn Latest Oil Ports Attacks

Western Powers Call for Libyan Unity, Condemn Latest Oil Ports Attacks

Sep 13, 2016 at 16:56 | Tsvetana Paraskova

The United States, the United Kingdom, France, Germany, Italy and Spain condemned on Tuesday this weekend’s attack on oil export terminals in eastern Libya by armed forces…

Exxon Set To Load First Nigerian Qua Iboe Oil Since July Force Majeure

Exxon Set To Load First Nigerian Qua Iboe Oil Since July Force Majeure

Sep 13, 2016 at 16:43 | Tsvetana Paraskova

For the first time since ExxonMobil (NYSE:XOM) declared force majeure on Nigeria’s Qua Iboe oil exports in July, the U.S. oil company is offering Qua Iboe crude…

Billion-Dollar Mexico Oil Equity Placement Reportedly In Offing

Billion-Dollar Mexico Oil Equity Placement Reportedly In Offing

Sep 13, 2016 at 14:32 | Erwin Cifuentes

One of the biggest Mexican equity placements in years could soon take place as Infraestructura Energetica Nova (IEnova) is expected to earn at least US$1 billion in a…

Brazil Ratifies Paris Climate Change Participation

Brazil Ratifies Paris Climate Change Participation

Sep 13, 2016 at 14:08 | Lincoln Brown

The government of Brazil on Monday ratified the country’s participation in the Paris Agreement on climate change, making it one of the biggest carbon dioxide releasers in…

Repsol Sells 20% In Gas Natural For $4.2B

Repsol Sells 20% In Gas Natural For $4.2B

Sep 13, 2016 at 13:14 | Irina Slav

Spain’s energy major Repsol and investment company Criteria Caixa have agreed to sell a 20-percent stake in utility Gas Natural for a total of US$4.27 billion (3.8…

Russia To Stop Exporting Oil Through Foreign Baltic Ports

Russia To Stop Exporting Oil Through Foreign Baltic Ports

Sep 13, 2016 at 10:04 | Zainab Calcuttawala

Russia will stop exporting its oil through foreign ports sitting on the Baltic Sea by 2018, according to a new report by Reuters. Nikolai Tokarev, head of…

Anadarko Splashes US$2 Billion On Freeport Oil Assets

Anadarko Splashes US$2 Billion On Freeport Oil Assets

Sep 13, 2016 at 09:46 | Irina Slav

Anadarko will pay US$2 billion to acquire a number of assets of mining giant Freeport-McMoRan in the Gulf of Mexico, the oil company said yesterday. The deal,…

Manchester United Posts Record Revenue Without Petrodollars

Manchester United Posts Record Revenue Without Petrodollars

Sep 13, 2016 at 09:36 | Erwin Cifuentes

Manchester United has become the first British soccer club to surpass the half a million pound mark in annual revenue, according to its latest quarterly earnings report. Some Red Devils…

Oil And Gas Creditors Recover $1 Of Every $5 On Defaulted Debt

Oil And Gas Creditors Recover $1 Of Every $5 On Defaulted Debt

Sep 12, 2016 at 17:27 | Zainab Calcuttawala

Creditors who funded the United States’ shale boom are not in good shape to recover their invested funds, according to Moody’s Investors Service. Banks and private lenders…

Coalition Against ISIS Destroys 55 ISIS Oil Tankers In Syria

Coalition Against ISIS Destroys 55 ISIS Oil Tankers In Syria

Sep 12, 2016 at 16:32 | Zainab Calcuttawala

Fifty-five oil tankers perished in recent raids in Syria, as part of the U.S. and allies’ international coalition against the Islamic State (ISIS), according to a recent

Indian Oil Minister Expects Record-Breaking Surge In Crude Demand 2016

Indian Oil Minister Expects Record-Breaking Surge In Crude Demand 2016

Sep 12, 2016 at 16:18 | Irina Slav

India’s Petroleum Minister Dharmendra Pradhan expects the demand for crude oil in the country to rise in excess of 11 percent this year, thanks to “better monsoon…

Iraq Lifts Crude Loading Plans For October By 23,000 Bpd

Iraq Lifts Crude Loading Plans For October By 23,000 Bpd

Sep 12, 2016 at 16:10 | Tsvetana Paraskova

Iraq’s State Oil Marketing Company, SOMO, expects its October exports from the main southern Gulf terminals will average 3.28 million barrels per day, up by 23,000 bpd from…

OPEC Expects Oil Oversupply To Persist In 2017

OPEC Expects Oil Oversupply To Persist In 2017

Sep 12, 2016 at 13:05 | Tsvetana Paraskova

OPEC revised up on Monday its forecast for non-OPEC oil supply in 2017 by 350,000 barrels per day and now expects producers outside the cartel to…

Lithuania Seeks Annulment Of Court Decision In Gazprom Dispute

Lithuania Seeks Annulment Of Court Decision In Gazprom Dispute

Sep 12, 2016 at 12:32 | Irina Slav

Lithuania is planning to sue Russia’s Gazprom for overinflated gas prices at a second court in Sweden, after losing an arbitration court case there. This will be…

LNA Wrestles Control Of Three Libyan Oil Ports From PFG

LNA Wrestles Control Of Three Libyan Oil Ports From PFG

Sep 12, 2016 at 09:17 | Irina Slav

The Libyan National Army has taken control of three oil export terminals in the so-called Oil Crescent, wrestling them from the Petroleum Facilities Guard, which is affiliated…

Mexico To Cut More Than US$5 Billion From Pemex Budget

Mexico To Cut More Than US$5 Billion From Pemex Budget

Sep 09, 2016 at 16:57 | Erwin Cifuentes

Mexican finance minister Jose Antonio Meade announced on Thursday that approximately US$5.4 billion in funds for state-run oil firm Pemex will be eliminated from the proposed federal budget…

Judge Denies Sioux Request To Stop Pipeline, But Feds Ask For Work Stoppage

Judge Denies Sioux Request To Stop Pipeline, But Feds Ask For Work Stoppage

Sep 09, 2016 at 16:21 | Zainab Calcuttawala

Shortly after District Judge James Boasberg denied the Standing Rock Sioux Tribe’s request to halt construction of a portion of the Dakota Access Pipeline (DAPL) on Friday, federal…

Oil Balancing May Take Longer Than Previously Anticipated, Morgan Stanley

Oil Balancing May Take Longer Than Previously Anticipated, Morgan Stanley

Sep 09, 2016 at 14:37 | Zainab Calcuttawala

Morgan Stanley’s recent prediction placing the end of the oil market supply glut around mid-2017 is losing backing from its central proponent. The firm’s head of energy research,…

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