Is Another Bust Looming Over The Oil Industry?
Notable authorities such as the EIA, the IEA, OPEC and BP forecast growth of demand for oil in their base case scenarios through the end of their forecast periods. These Continue Reading
Oil majors’ reserves are shrinking and investors don’t mind
As crude prices recover, oil majors face a dilemma – how quickly should they seek to replenish reserves? It’s the same question the cyclical oil industry has tackled many times Continue Reading
Saudis to Seek Bids for 700-Megawatt Wind and Solar Projects
Energy Ministry qualifies 51 companies to bid for power plants First Solar, renewables unit of EDF among qualified companies Saudi Arabia will begin seeking bids next week from renewable-energy companies Continue Reading
Libya Biggest Oil Field Said to Shut for 2nd Time in Two Weeks
Libya’s biggest oil field was said to stop producing, just one week after it reopened, the latest in a series of disruptions in the country’s crude output. The pipeline carrying Continue Reading
OMV sees Libya as a natural fit
Libya fits in well with a strategy of capitalizing on mature onshore oil basins and service to European energy needs, the head of Austria’s OMV said. Representatives from the National Continue Reading
Iran sees foreign investments in energy sector stable
Iran expects more, not less, foreign investments in its oil and natural gas sector because of fewer sanctions restrictions, the oil minister said. Iranian Oil Minister Bijan Zangeneh said foreign Continue Reading
Exclusive – Saudis, oil majors discuss gas investments ahead of giant IPO
Saudi Arabia and international oil companies have discussed gas venture opportunities inside the kingdom and abroad as part of the top crude-exporting country’s drive to diversify investments before the listing Continue Reading
Iranian oil exports dip in March, floating storage almost cleared
Exports fall to 2.35 million b/d Flows to India jump but relations could sour over Farzad B row Floating storage barrels dwindle Fall in European spot demand from stiffer competition Continue Reading
Nigeria: Malabu Scandal – Jonathan Must Have Gotten $200 Million, Middleman Tells FBI, Others
Former President Goodluck Jonathan probably received as much as $200 million to approve the controversial $1.3 billion sale of OPL 245 oil field, Italian prosecutors said in court documents. The Continue Reading
Nigeria: Malabu Scandal – After Telling Lies for Years, Shell Admits It Knew Etete Would Benefit From $1.1 Billion
After repeated denials in various countries, Anglo-Dutch oil giant, Royal Dutch Shell, on Monday finally admitted it had foreknowledge that the $1.3 billion itself and ENI paid to Nigerian government Continue Reading