Russian Crimea Project Faces New EU Sanctions
Deputy Russian Energy Minister Andrew Cherezov and three new Russian companies now face new sanctions from the European Union due to their involvement in the delivery of gas turbines to Continue Reading
Big Oil’s Dream of $65 Billion Hidden Off Norway Is Fading Away
Norway’s oil industry has been salivating for years over the Arctic Lofoten islands, which could hold billions of barrels of crude. It will likely have to keep dreaming. The general Continue Reading
Oil dips on high OPEC supplies, defying falling U.S. crude stocks
Oil dipped on Thursday as a rally that has pushed up prices by almost 10 percent since early last week lost momentum despite renewed signs of a gradually tightening U.S. Continue Reading
In Iran, Rouhani Begins 2nd Term With Signs He’s Yielding to Hard-Liners
President Hassan Rouhani, endorsed by Iran ’s supreme leader on Thursday with a nationally televised cheek-kiss, is starting his second term under newly intense pressure from both hard-line opponents and Continue Reading
Goldman Sachs Vies For Role In Aramco IPO
Goldman Sachs has bought in the secondary market part of Saudi Aramco’s US$10-billion revolving credit facility as the U.S. investment bank vies for a role in what would be the Continue Reading
Gas pipeline inaugurated in northern Iran
National Iranian Gas Co. said a natural gas pipeline able to lower reliance on former supplier Turkmenistan has been inaugurated in northern Iran. Oil Minister Bijan Namdar Zanganeh opened a 160-km, Continue Reading
Venezuela prosecutors open probe into vote manipulation
The Venezuelan state prosecutor’s office said late on Wednesday it has opened an investigation into accusations that the country’s elections council manipulated turnout figures in Sunday’s controversial election for a Continue Reading
Venezuela cuts oil supply to Citgo as Russia’s Rosneft gets more
Venezuela’s state-run PDVSA has reduced crude sales to its U.S. refining unit Citgo Petroleum while increasing supply to Russia’s Rosneft ( ROSN.MM ), following a plan signed in May to Continue Reading
Venezuela’s ‘’Election’’ Creates Opportunity For Oil Investors
The result of this election was hardly in doubt. Opposition political parties boycotted what can most generously be referred to as “massaged” voting results. But the main result may end Continue Reading
Construction of world’s second largest hydropower station begins
A ceremony is held at the construction site of Baihetan project, which is located downstream of the Jinsha River, the upper section of the Yangtze, in Ningnan county of southwest Continue Reading