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News

Oil Down After API Reports 1.2M Barrel Build

Oil Down After API Reports 1.2M Barrel Build

Jun 15, 2016 at 06:47 | Charles Kennedy

Oil futures dipped back down to well below $50 on Tuesday after the American Petroleum Institute (API) reported a build on U.S. crude oil supplies of 1.2 million barrels for the…

Divestment Crusaders Hold Stanford Donations Hostage

Divestment Crusaders Hold Stanford Donations Hostage

Jun 14, 2016 at 17:16 | Julianne Geiger

Stanford alumni interrupted an annual senior gift announcement at Stanford University on Friday afternoon, vowing to holdback donations to the university until it rids itself of…

Angola Could Face Niger-Delta-Style Oil Threat

Angola Could Face Niger-Delta-Style Oil Threat

Jun 14, 2016 at 15:15 | Julianne Geiger

As oil-targeted militancy in Nigeria remerges to threaten the country’s entire industry and put significant amounts of oil offline, foreign operators in oil-rich Angola’s may be…

Venezuela’s Oil Output Drops Sharply Amid Continued Unrest

Venezuela’s Oil Output Drops Sharply Amid Continued Unrest

Jun 14, 2016 at 14:55 | Erwin Cifuentes

Venezuela registered its sharpest monthly drop in oil production yet, as unrest continues over political divisions and economic difficulties. The Organization of the Petroleum Exporting Countries…

Exxon Chief Executive To Attend Russian Investment Forum

Exxon Chief Executive To Attend Russian Investment Forum

Jun 14, 2016 at 11:31 | Lincoln Brown

Rex Tillerson, Chief Executive of Exxon Mobil, is slated to attend an investment forum this week in Russia after a two-year absence following sanctions imposed…

China’s Potential Oil Reserves Up 64%, Says Official Report

China’s Potential Oil Reserves Up 64%, Says Official Report

Jun 14, 2016 at 10:20 | Julianne Geiger

China’s potential oil reserves are up 64 percent since 2007 due to increased exploration activities, according to a new report from the Chinese Land and Resource…

IEA Report Sees Global Oil Supply Fall

IEA Report Sees Global Oil Supply Fall

Jun 14, 2016 at 09:41 | Lincoln Brown

According to the June IEA report, the global oil supply overall was down 0.8 mb/d for last month, due to outages in both OPEC and…

Statoil To Begin New Drilling Project in North Sea

Statoil To Begin New Drilling Project in North Sea

Jun 13, 2016 at 17:22 | Zainab Calcuttawala

Norway’s oil and gas regulator has authorized Statoil to begin operations in the Norwegian areas of the North Sea, according to a report by Offshore Post. The…

TransCanada Expands Pipeline Reach In Mexico With $2B Deal

TransCanada Expands Pipeline Reach In Mexico With $2B Deal

Jun 13, 2016 at 16:30 | Zainab Calcuttawala

TransCanada Corp announced a new joint venture in Mexico on Monday, through which it will help build and operate a $2.1 billion natural gas pipeline in the southernmost…

Rothman: Oil Prices to Surge To Over $85 By End of 2016

Rothman: Oil Prices to Surge To Over $85 By End of 2016

Jun 13, 2016 at 15:31 | Zainab Calcuttawala

Oil prices could surge above $85 a barrel by the end of this year, according to analysis by Michael Rothman, considered to be one of…

Chile’s ENAP Begins Exploration In Magallanes With ConocoPhillips

Chile’s ENAP Begins Exploration In Magallanes With ConocoPhillips

Jun 13, 2016 at 15:20 | Zainab Calcuttawala

Empresa Nacional del Petroleo of Chile has signed a contract with ConocoPhillips (COP) to jointly explore and exploit oil and gas deposits in the Magallanes region, according to…

OPEC Estimates Oil Output Will Fall Among Non-Member States

OPEC Estimates Oil Output Will Fall Among Non-Member States

Jun 13, 2016 at 15:10 | Erwin Cifuentes

The Organization of the Petroleum Exporting Countries (OPEC) in its latest monthly report believes that oil production will decline in non-member countries this year. According to the…

New Oil Minister Comes To Power In Algeria

New Oil Minister Comes To Power In Algeria

Jun 13, 2016 at 14:50 | Zainab Calcuttawala

An Algerian Cabinet reshuffle has ousted the freshman oil minister who had held the position for just over a year, replacing him with the head of the country’s…

Russia Is Reportedly Set To Release Clinton's Intercepted Emails

Russia Is Reportedly Set To Release Clinton's Intercepted Emails

Jun 13, 2016 at 14:37 | Defense and Foreign Affairs

Reliable intelligence sources in the West have indicated that warnings had been received that the Russian Government could in the near future release the text of email messages…

Pemex To Farm Out Production At The Trión Oil Field

Pemex To Farm Out Production At The Trión Oil Field

Jun 13, 2016 at 13:06 | James Burgess

Mexico’s state-run Pemex announced on the 10th June that it has selected the Trión deep-water field for its maiden farm-out deal to other operators, according to Reuters.…

60,000 Jobs Lost In Angola Due To Oil Slump

60,000 Jobs Lost In Angola Due To Oil Slump

Jun 13, 2016 at 09:55 | Lincoln Brown

The drop in international oil prices is behind the loss of some 60,000 jobs in the nation of Angola. The situation has unfolded over the past 12…

Iran Appoints Ali Kardor As NIOC Chief

Iran Appoints Ali Kardor As NIOC Chief

Jun 13, 2016 at 09:42 | Lincoln Brown

On Sunday, Iran appointed Ali Kardor as the managing director of its National Iranian Oil Company. The move comes at a time when Iran is boosting its…

Libya Sues Goldman Sachs Over US $1.2B In Lost Investments

Libya Sues Goldman Sachs Over US $1.2B In Lost Investments

Jun 13, 2016 at 09:36 | Lincoln Brown

The Libyan Investment Authority (LIA) and Goldman Sachs began a $1.2 billion court battle this week over claims that Goldman Sachs exploited Libya’s Sovereign wealth fund by

Coal Production Collapses To 35-Year Low

Coal Production Collapses To 35-Year Low

Jun 10, 2016 at 16:38 | Oil & Gas 360

Coal production in the first three months of 2016 was 173 million short tons, the lowest quarterly level in the United States since a major coal strike in the second…

Oman Sells $2.5 Billion in International Bonds

Oman Sells $2.5 Billion in International Bonds

Jun 10, 2016 at 16:02 | Zainab Calcuttawala

For the first time in 20 years, Oman has sold international bonds in order to stop the effects of a crippling budget deficit caused by the low price…

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