Iran touts new contracts for domestic oil companies
Iran is on its way to reaching its production goals for the 2020s with the start of operations at oil fields under a new contract model, the government said. The Continue Reading
Nigeria: Govt Accuses Shell of Crude Oil Theft, Demands $406 Million
The Nigerian government is demanding $406.75 million minimum from Shell Petroleum Development Company of Nigeria Limited and its surrogate Shell Western Supply & Trading Limited over alleged crude oil theft. Continue Reading
Spotlight: Africa’s first electrified railway embraces full Chinese standards
Chinese train driver Liu Ji (R) and his Ethiopian colleague Geto wave hands before the start of the first passenger train of the Addis Ababa-Djibouti railway in Addis Ababa, Ethiopia, Continue Reading
Venezuela to discuss Algerian oil accord with Russia
Talks with Russian officials this week could add additional weight to an oil production agreement reached last week in Algeria, Venezuela’s president said. State-owned Petróleos de Venezuela, known also as Continue Reading
Venezuela Is Pawning Pieces of Iconic American Brand Citgo to Survive
The Citgo logo is a beacon at the Red Sox’s home field Using the refiner as collateral is controversial in Caracas The red triangle is just about everywhere, from the Continue Reading
Brazil Opens Oil Fields to Foreign Firms in Major Policy Shift
Congress approves liberalization of huge pre-salt deposits State-run Petrobras no longer sole operator of offshore area Brazil’s Congress voted on Wednesday night to open up its pre-salt oil fields to Continue Reading
US Southwest faces threat of megadroughts with rising temps
Already dealing with parched conditions, the U.S. Southwest faces the threat of megadroughts this century as temperatures rise, says a new study that found the risk is reduced if heat-trapping Continue Reading
Alaska gushes over new oil discovery in the North Slope
With a state pipeline system on empty, Alaska’s governor optimistic about a new oil discovery in the state’s North Slope region. Photo by Heather Snow/Shutterstock Alaska Gov. Bill Walker said Continue Reading
Caelus Claims Large-Scale Oil Find on Alaska’s North Slope
Caelus Energy Alaska makes an oil discovery of 6 billion barrels of oil in place off Alaska’s North Slope. Caelus Energy Alaska LLC reported Tuesday it has made a light Continue Reading
Pipeline Outage Could Lead To Another Gasoline Price Spike
Gasoline prices in the U.S. Southeast spiked in September after a major gasoline pipeline suffered a leak and was forced to temporarily shut down. The Southeast may see gasoline prices Continue Reading