Oil Prices Set To Rise as Supply-Demand Gap Closes Up
Oil prices are poised to climb over the coming weeks as supply and demand approach parity, according to analysts who spoke to CNBC as the remnants of Hurricane Harvey continues Continue Reading
Iraq Braves Break With Tradition to Get Oil’s True Worth
OPEC’s second-largest producer is stepping up the campaign to get more for its oil by looking to revamp the way it sells crude to its biggest customers. (Bloomberg) — OPEC’s Continue Reading
Mideast oil producers on low-level alert after Iraq pricing switch
Gulf OPEC members Saudi Arabia and Kuwait are unlikely to follow Iraq in a major shift in the way it prices its oil in Asia and will monitor Baghdad’s attempts Continue Reading
Saudi Arabia Shortlists 25 Bidders For First Utility-Scale Wind Plant
Saudi Arabia has shortlisted 25 companies that qualify to bid for proposals to build a 400-MW wind power plant in the northern part of the Kingdom, in what would be Continue Reading
Siba preparing year-end commercial gas production
The first successful project from Iraq’s third bidding round, in 2010, is on track to reach plateau production within five years. A worker at the Siba gas field on Aug. Continue Reading
Total Could Miss Out On 14 Billion Barrel Brazilian Reserves
Total’s study on the environmental impact of drilling in one of the Amazon’s basins hit a roadblock on Tuesday when Brazilian regulator Ibama said it rejects the validity of the Continue Reading
Is Trump Holding Back On Venezuela Sanctions?
A few days ago, the White House authorized new sanctions against Venezuela – a country struggling under the burden of running a socialist government while the value of its main Continue Reading
Power of love: China’s latest arranged match rattles utilities
Beijing announced its latest arranged marriage by matching the country’s top coal miner with one of its biggest utilities to create a global powerhouse worth $280 billion on China’s Valentine’s Continue Reading
Nigeria Pays $120 Million Demurrage Annually On Imported Fuel
The federal government is currently counting significant losses arising from demurrage paid by vessels which bring in imported petroleum products into the country. Available statistics shows that the country pays Continue Reading
Flooding knocks out U.S. refineries, crude hit by supply disruptions
Heavy rains from tropical storm Harvey caused large-scale U.S. refinery outages, pushing up gasoline prices, while crude prices rose in early Asian trade on Tuesday on the back of supply Continue Reading