Oil Rally Hopes Crushed As Inventories Hit All-Time High
Oil prices sank on Thursday following fresh data showing oil and product stocks rising to an all-time high. The EIA released its weekly data on July 20, revealing a slight Continue Reading
Saudi Arabia Boosts Natural-Gas Output
The world’s top crude-oil exporter, Saudi Arabia, has long lagged behind its rivals in natural-gas production. Now, after years of stumbles and missed deadlines, the kingdom is making progress in Continue Reading
Saudi Arabia Offers Hope For An Oil Price Rally
Crude oil prices hit a 10-week low on Tuesday, but one piece of data from Saudi Arabia could provide a glimmer of hope for those longing for an oil price Continue Reading
New talks aim to break Kirkuk oil impasse
Private-sector leaders and government officials in Erbil, Baghdad and Kirkuk are negotiating a plan that would unlock oil production currently tied up in political disputes. Kirkuk Gov. Najmaldin Karim (far Continue Reading
Saudi Arabia regains top ranking in China crude supply
Saudi Arabia, the world’s biggest oil exporter, regained its position as China’s top crude supplier in June, after losing out to Russia over the previous three months, customs data showed Continue Reading
Shale Drilling Set To Take Off In Argentina
Argentina has exceptional hydrocarbon reserves, but politics has greatly affected its development. The economy in Argentina is best described as a “pendulum”, going from loose economic policies in the ‘80s Continue Reading
Rothschild Said to Approach PDVSA Creditors to Form Group
Advisory firm querying investors about interest in bond swap Rothschild believes PDVSA management open to transaction Rothschild & Co. is approaching Petroleos de Venezuela SA bondholders in a bid to Continue Reading
Exxon Takes the Lead in InterOil Hunt as Oil Search Bows Out
Exxon bid values Papua New Guinea gas explorer at $2.5 billion Oil Search, Total to axe joint-bid if InterOil chooses Exxon Exxon Mobil Corp. is the leader in the clubhouse Continue Reading
China Gasoline Exports Catch Up With Diesel as Output Surges
Gasoline exports rise to record 1.1 million tons in June Outbound diesel shipments declined to 4-month low last month The volume of China’s gasoline exports caught up with diesel last Continue Reading
Recovery in sight, Schlumberger mulls rollback of concessions
Schlumberger Ltd ( SLB.N ), the world’s No.1 oilfield services provider, said the oil downturn appeared to have bottomed out and it was considering rolling back pricing concessions. Schlumberger’s statement Continue Reading