Oil now flowing from offshore Ghana
One of the bigger oil projects off the coast of West Africa has started production from a floating facility offshore Ghana, Tullow Oil announced Thursday. “I am delighted that the Continue Reading
Crude oil disruptions in Nigeria increase as a result of militant attacks
Crude oil production disruptions in Nigeria reached 750,000 barrels per day (b/d) in May 2016, the highest level since at least January 2009. The increased disruptions come as militants continue Continue Reading
Nigerian Oil Output Falls To 1,56 Mbpd – 4 Blends Remain Under Force Majeure
Niger Delta Forces Attacks by militant have caused a drop in the oil output from Nigeria. Oil Minister Emmanuel Ibe Kachikwu stated while in Lagos that production had fallen to Continue Reading
Nigerian peace talks engulfed in uncertainty
* Niger Delta Avengers appear split * Talks Friday with Ijaw community leaders Confusion reigns over Nigerian peace talks after mixed messages from the Nigerian militant group Niger Delta Avengers Continue Reading
OPEC Freeze Wouldn’t Be So Potent as Gulf Rivals Pump More
Saudi, Iranian output up 1 million barrels a day since January Freezing at current level delays re-balancing by a year: PVM Even if OPEC strikes a deal with Russia next Continue Reading
Volvo Cars and Uber join forces to develop next-gen autonomous driving cars; $300M joint project
Volvo Cars and ride-sharing company Uber have signed an agreement to establish a joint project that will develop new base vehicles that will be able to incorporate the latest developments Continue Reading
Pemex Woes Snowball as Cash Crunch Deepens Production Plunge
Morgan Stanley sees dramatic production drop in coming years Cash flow gap forecast to reach record $22 billion this year Petroleos Mexicanos’ deteriorating finances are poised to get much worse, Continue Reading
Can Bolivia Capitalize On Its Huge Lithium Reserves?
Bolivia, one of the poorest countries in Latin America, has began shipping lithium to China in what is considered the first step towards fulfilling its ambitions to becoming the world’s Continue Reading
U.S. Gasoline Use Reaches Record in July as Pump Price Dips
Consumption up 2.4% from year earlier at 9.67 million b/d: API Refineries produced a record amount of gasoline last month U.S. gasoline consumption climbed in July to a record as Continue Reading
Continental Resources sells acreage to balance books
The estimated $222 million received from the sale of shale acreage in North Dakota and Montana will help balance the books, Continental Resources said. One of the largest leaseholders in Continue Reading