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• Russia Hits 100% Compliance With OPEC Cut

  Published 28 April 2017 | viewed 21,650 times

  Russia has effectively reached its 300,000-bpd production cut target under its agreement with OPEC, Energy Minister Alexander Novak said. “Yesterday it was about 298,000 barrels.…

• World Bank Maintains Oil Price Forecast At $55

  Published 27 April 2017 | viewed 24,736 times

  In its latest Commodity Markets Outlook, the World Bank maintained its Q1 forecast for oil prices at $55 a barrel, saying, however, that overall energy…

• New Oil Discoveries Slump To 2.4 Billion Barrels In 2016

  Published 27 April 2017 | viewed 13,790 times

  New crude oil discoveries last year amounted to just 2.4 billion barrels, the International Energy Agency said, adding that the average annual rate of new…

• Anadarko Shuts 3,000 Wells in Colorado After Explosions

  Published 27 April 2017 | viewed 13,344 times

  Following a home blast near a vertical well operated by Anadarko (NYSE:APC) , the company said it will shut all its vertical wells in northwestern…

• Pemex Hedges Oil For First Time In 11 Years

  Published 26 April 2017 | viewed 15,178 times

  Mexico’s state oil major has decided to hedge its oil output until the end of the year for the first time since 2006, spending $133.5…

• EIA Takes Markets By Surprise, Reports Major Crude Oil Inventory Draw

  Published 26 April 2017 | viewed 38,394 times

  Amid growing pessimism regarding an extension of OPEC’s oil production deal, and a day after the American Petroleum Institute reported an estimated increase of 897,000…

• Nigeria’s Budget Benefits From Higher Oil Prices In March

  Published 26 April 2017 | viewed 4,440 times

  Nigeria received distributable revenues of $1.53 billion (467.81 billion naira) in March thanks to higher royalty income from the oil industry and better international prices.…

• Mexico Looks Overseas For New Oil Export Destinations

  Published 25 April 2017 | viewed 12,802 times

  Two weeks ago, Mexican crude oil exports to the U.S. saw a 43 percent weekly drop to 290,000 bpd, versus a 52-week average of 561,000…

• Russia Regains Status As China's No.1 Crude Supplier

  Published 25 April 2017 | viewed 6,615 times

  China imported daily average of 4.69 million tons, or 34.38 million bpd, of crude oil from Russia last month. That’s 9.3 percent more than the…

• Creditors, Not Cleanup, First Priority For Bankrupt Canadian Energy Firms

  Published 25 April 2017 | viewed 4,941 times

  A Canadian court has upheld a previous decision that, in case of bankruptcy, the creditors of an energy firm will be paid what they are owed…

• China Offers Contested South China Sea Oil And Gas Blocks

  Published 24 April 2017 | viewed 19,508 times

  Last week, China National Offshore Oil Corp tendered 22 oil and gas blocks in the South China Sea, expecting bids from foreign companies that would…

• Saudi King Sacks Three Ministers, Reinstates Public Service Perks

  Published 24 April 2017 | viewed 13,760 times

  Saudi Arabia’s King Salman has decreed several sweeping changes to the government and has reinstated perks for civil servants that were removed last year amid…

• Gas Prices In North Korea Shoot Up 83% As China Mulls Oil Embargo

  Published 24 April 2017 | viewed 31,528 times

  Gasoline prices in North Korea’s capital Pyongyang jumped by as much as 83 percent within three days on the back of reports that China is…

• India’s Hunger For Oil Storage Causes Long Gas Lines In Sri Lanka

  Published 24 April 2017 | viewed 6,183 times

  The Ceylon Petroleum Common Workers Union has stopped releasing gasoline from 12 storage facilities, causing long lines at gas stations across Sri Lanka. The industrial action…

• Exxon Attempts To Maneuver Around Russian Sanctions

  Published 23 April 2017 | viewed 9,999 times

  It’s all over the news: ExxonMobil has applied for a waiver from the economic sanctions against Russia—and specifically Rosneft—in order to resume its joint operations…

• Russia Hits 250,000 Bpd Oil Production Cut Milestone

  Published 21 April 2017 | viewed 8,308 times

  Russia has cut 250,000 bpd of its crude oil output, with another 50,000 bpd to go as per its agreement with OPEC, Energy Minister Alexander…

• Pemex Is Looking For Partners In New Deepwater JV

  Published 21 April 2017 | viewed 6,586 times

  Mexico’s energy giant Pemex is looking for partners for the development of two oil and gas-rich areas in the Gulf of Mexico, Maximino and Nobilis,…

• Is Chevron’s Loss in Australian Court The Start Of Larger Tax Crackdown?

  Published 21 April 2017 | viewed 3,990 times

  The Federal Court of Australia has twice found Chevron responsible for shifting profits from Australia to the U.S. using an intra-company loan mechanism. This latest ruling…

• Massive Natural Gas Deposit Discovered In The Gulf Coast Basin

  Published 21 April 2017 | viewed 41,253 times

  Technological advancements have just pushed the boundaries of recoverable oil and gas in the U.S. further, according to an announcement by the U.S. Geological Survey.…

• Oman To Finally Launch Stock Sale Plan For Downstream Companies

  Published 20 April 2017 | viewed 7,446 times

  Oman will sell stakes in state-owned oil and gas downstream companies in a bid to prop up its finances after the oil price crunch from 2014.…