Oil ticks up on supply cuts, rising U.S. output caps gains
Brent oil prices edged up on Monday and were set to rise for five out of seven sessions as a global supply glut appears to ease, but rising U.S. production Continue Reading
Investors See Oil Break Out of Narrow Range With Record Bets
Oil has been bound to the tightest price range in more than a decade, and yet hedge funds have never been so confident it will eventually rally. Money managers boosted Continue Reading
Total in talks to buy Iranian LNG project: sources
Total ( TOTF.PA ) is in talks to buy a multi-billion dollar stake in Iran’s partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. Continue Reading
Iraq Plans Offshore Oil and Gas Exploration to Boost Reserves
Iraq is planning to start offshore oil and gas exploration to boost the OPEC nation’s reserves, Oil Minister Jabar al-Luaibi said in a statement on Monday. Luaibi said he “gave Continue Reading
Saudi Aramco buys $7 billion stake in Petronas’ RAPID refinery project
Saudi oil giant Aramco IPO-ARMO.SE will buy an equity stake in Malaysian firm Petronas’ refining and petrochemicals project in the southeast Asian country, the companies confirmed on Tuesday, investing a Continue Reading
Exclusive: Saudi Arabia wants oil prices to rise to around $60 in 2017 – sources
Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said. This is the level the Continue Reading
Cooking The Books? Saudi Aramco Could Be Overvalued By 500%
The world’s most valuable oil company, Saudi Aramco, is approaching its first IPO in 2018, as the government of Saudi Arabia prepares to sell off portions of the company in Continue Reading
Inside the black heart of IS’s oil sector
On the Mosul outskirts, the IS group’s Iraqi oil refining hub – recently seized by Iraqi forces – shows how the militants used savvy management to fuel their killing machine. Continue Reading
Nigeria: Buratai Says Niger Delta Now Witnessing Less Oil Theft
The Chief of Army Staff, Tukur Buratai, a Lieutenant General, says contrary to notion in some quarters, illegal bunkering, refinery and oil theft in the Niger Delta had reduced. Fielding Continue Reading
Is Mexico’s Oil Boom Under Threat?
In 2013, Mexican President Enrique Pena Nieto launched the Reforma Energética (RE) to reverse the nation’s decline in oil production and encourage green energy initiatives by ending the monopoly of Continue Reading