Halfway into 2017’s oil supply cut, Asia remains awash with fuel
Halfway into an OPEC-led oil supply cut, Asia remains awash with fuel in a sign that the group’s efforts to rein in a global glut have so far had little Continue Reading
Saudi Arabia Says Oil-Supply Cuts May Be Extended If Needed
OPEC and its allies may prolong production cuts after they expire in June if the world’s crude inventories remain excessive, Saudi Arabia ’s Energy Minister said. The curbs will be Continue Reading
Russia Urges Calm After Libya Strongman It Backs Takes Oil Ports
Russia urged restraint after a powerful Libyan military commander that it supports regained control of key oil facilities taken by forces loyal to the United Nations-backed government. “We urge all Continue Reading
Intra-Kurdish tensions high amidst provocations and protests
A volatile rivalry between two Kurdish factions, which burst into deadly fighting two weeks ago in Sinjar, continues to escalate with protests and provocative troop movements.Forces aligned with the Kurdistan Continue Reading
Nigeria: Oil Companies Urged to Relocate Bases
Captains of industry and commerce have endorsed calls by the Nigerian government for oil companies to relocate their headquarters to their areas of operations. The Port Harcourt Chamber of Commerce, Continue Reading
Exclusive: Venezuela’s cash-strapped PDVSA offers Rosneft oil stake
Venezuelan state oil company PDVSA has offered Russian counterpart Rosneft a stake in a joint venture in the country’s Orinoco Belt extra-heavy crude area, five industry sources said, in a Continue Reading
China’s Crude Oil Production Falls 8% Year Over Year
China’s crude oil production dropped by 8 percent annually to 31.44 million tons in January and February, as high domestic production costs prompted refineries to import more crude oil, according Continue Reading
China, Saudi Arabia Ink $65-Billion Worth Of Preliminary Deals
China and Saudi Arabia have signed preliminary deals that could be worth as much as $65 billion if finalized, Xinhua reports . The news came on the first day of Continue Reading
China’s crude oil output falls 8 pct
China’s crude oil output fell 8 percent year on year in the first two months of 2017 as refineries slashed production and imported more due to high exploitation costs, data Continue Reading
China’s Sinopec nears deal to buy Chevron’s South African oil assets: sources
China Petroleum and Chemical Corp (Sinopec) is nearing an agreement to buy a majority stake in Chevron Corp’s South African assets, which are estimated at $1 billion, two people familiar Continue Reading