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News

Norway’s Giant Oil Fund Excludes Duke Energy on Environment Concerns

Norway’s Giant Oil Fund Excludes Duke Energy on Environment Concerns

Sep 07, 2016 at 10:59 | Tsvetana Paraskova

The world’s largest sovereign wealth fund, Norway’s US$870-billion oil fund, said that it excludes, effective Wednesday, Duke Energy Corp (NYSE:DUK) and three subsidiaries from its investment…

Do These Government Threats Show A Super Spike For Nickel Next Week?

Do These Government Threats Show A Super Spike For Nickel Next Week?

Sep 07, 2016 at 09:38 | Dave Forest

Things are about to get very serious in the world’s top nickel-producing nation. That’s the message this week coming from lawmakers in the Philippines. With the country’s mines…

US-led Coalition Strikes Destroy More ISIS Oil Assets in Syria

US-led Coalition Strikes Destroy More ISIS Oil Assets in Syria

Sep 07, 2016 at 09:09 | Tsvetana Paraskova

U.S. and coalition military forces have conducted air strikes and destroyed ISIS oil pump jacks and oil tanker trucks in Syria, the U.S. Department of Defense said…

Shell Starts Production In Ultra Deepwater Field In Gulf Of Mexico

Shell Starts Production In Ultra Deepwater Field In Gulf Of Mexico

Sep 06, 2016 at 17:34 | Zainab Calcuttawala

Royal Dutch Shell announced on Tuesday that it started production in its ultra deepwater fields in the Gulf of Mexico, according to an official statement posted on…

Statoil Offers Severance Packages To All Employees

Statoil Offers Severance Packages To All Employees

Sep 06, 2016 at 17:25 | Zainab Calcuttawala

Statoil informed its employees via its companywide intranet that all employees would receive an offer to apply for severance packages, according to a report by The Norway Post. …

EOG Resources Boosts Permian Presence With $2.5B Acquisition

EOG Resources Boosts Permian Presence With $2.5B Acquisition

Sep 06, 2016 at 17:01 | Tsvetana Paraskova

EOG Resources (NYSE:EOG) said on Tuesday that it had agreed to buy independent company Yates Petroleum Corporation in a stock-and-cash transaction worth for US$2.5 billion, thus…

Texas Drilling Industry Ends 19-Month Job Bleed In July

Texas Drilling Industry Ends 19-Month Job Bleed In July

Sep 06, 2016 at 16:33 | Zainab Calcuttawala

Texas’ drilling companies added 100 jobs in July, marking the first monthly increase of the kind in the state’s energy sector for 19 straight months, according to…

Abu Dhabi Sovereign Funds Merge In US$125 Billion Deal

Abu Dhabi Sovereign Funds Merge In US$125 Billion Deal

Sep 06, 2016 at 14:39 | Erwin Cifuentes

Two major Abu Dhabi sovereign funds - International Petroleum Investment Co. (IPIC) and Mubadala Development Company PJSC – will come together to create an alliance with assets of approximately US$125…

Clashes In Oil-Rich Yemeni Region Kill 26

Clashes In Oil-Rich Yemeni Region Kill 26

Sep 06, 2016 at 13:00 | Tsvetana Paraskova

Fierce clashes between Yemen’s government loyalist troops and Iran-backed Shiite Houthi rebels over control of an oil-rich region in Yemen killed 10 soldiers and at least 16…

Iranian Expected To Export New West Kharoon Crude By End Of 2016

Iranian Expected To Export New West Kharoon Crude By End Of 2016

Sep 06, 2016 at 11:21 | Erwin Cifuentes

Iran’s aim to reach pre-sanction oil production levels could receive a welcome boost according to comments made by a senior official at the National Iranian Oil Company (NIOC)…

Enbridge, Spectra Ink A $28 Billion Merger Deal

Enbridge, Spectra Ink A $28 Billion Merger Deal

Sep 06, 2016 at 10:24 | Lincoln Brown

On Tuesday, Canadian pipeline company Enbridge agreed to the purchase of Spectra Energy Corporation out of Houston. The all stock deal is valued at $28 million. In…

Russia Further Depletes Reserves To Cover Budget Shortfalls

Russia Further Depletes Reserves To Cover Budget Shortfalls

Sep 06, 2016 at 09:09 | Lincoln Brown

The Russian news agency Tass reports that the government has accessed its reserve funds for the third time this year in order to cover a shortfall in…

This New Law Is A Massive Step In Re-Opening A Top Mining Nation

This New Law Is A Massive Step In Re-Opening A Top Mining Nation

Sep 05, 2016 at 09:55 | Dave Forest

One of the most interesting stories in mining and energy of late has been the re-emergence of Argentina. With a new pro-business government here moving quickly to open…

Labor Day Weekend Gas Prices Hit 12-Year Low

Labor Day Weekend Gas Prices Hit 12-Year Low

Sep 02, 2016 at 17:36 | Zainab Calcuttawala

Labor Day weekend gas prices have hit a 12-year low this year, according to a report by the U.S. Energy Information Administration on Friday. Thanks to the…

11,700 Petrobras Employees Sign Up To Get Fired

11,700 Petrobras Employees Sign Up To Get Fired

Sep 02, 2016 at 16:16 | Zainab Calcuttawala

Over 11,700 Petrobras employees signed up to get fired through the Brazilian energy firm’s voluntary dismissal program, according to a new report by Bloomberg. The government-owned company…

Enbridge Gives Up $2.6B Oil Pipeline

Enbridge Gives Up $2.6B Oil Pipeline

Sep 02, 2016 at 14:59 | Irina Slav

Forced by unfavorable market conditions and regulatory delays, Enbridge Energy will drop its planned pipeline project Sandpiper that was to transport crude oil from North Dakota’s Bakken…

Iraq And KRG Agree To Split Kirkuk Revenues 50/50 And Fight ISIS In Mosul

Iraq And KRG Agree To Split Kirkuk Revenues 50/50 And Fight ISIS In Mosul

Sep 02, 2016 at 14:23 | Zainab Calcuttawala

Iraq and the semi-autonomous region of Kurdistan have restarted joint exports of crude from the Kirkuk oil field, after the two parties reached a preliminary revenue-sharing deal earlier…

Forget China, Nuclear Security Issues Already Abound in UK

Forget China, Nuclear Security Issues Already Abound in UK

Sep 02, 2016 at 14:11 | Tsvetana Paraskova

The UK’s police, who are guarding the nuclear sites in the country, have said that 130 security breaches at sites have occurred in the past five years,…

Ivanpah Solar Plant Becomes Bird Incinerator, Graveyard

Ivanpah Solar Plant Becomes Bird Incinerator, Graveyard

Sep 02, 2016 at 12:07 | Lincoln Brown

Some say that the casualty numbers are overhyped. Other say it is a serious problem. But at the Ivanpah Solar Plant in Nevada, birds are bursting into…

ISIS Oil Tanks Destroyed By Syrian Army

ISIS Oil Tanks Destroyed By Syrian Army

Sep 02, 2016 at 11:46 | Irina Slav

A series of air strikes conducted by the Syrian army across the country ended with scores of militants dead and various vehicles destroyed, including a caravan of…

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