Oil Prices Edge Up Amid Pipeline Outage
A general view of the entrance to the Forties Pipeline System installation in Scotland. U.S. oil prices rose and the global benchmark fell Friday, as prices were supported by a Continue Reading
Oil hovers below two-year highs with focus on U.S. output
Oil prices were mixed on Friday, lingering below two-year highs as the continuing outage of a North Sea pipeline gave support, while climbing U.S. output and weak gasoline demand kept Continue Reading
The Biggest Voices in Oil Disagree About 2018
OPEC data point to rebalancing in 2018; IEA says otherwise Their conflicting views reflect differences on U.S. shale oil The two most critical forecasts of global oil markets offer contrasting Continue Reading
How Global Warming Fueled Five Extreme Weather Events
New research has analyzed 27 extreme weather events from that year for links to climate change. Extreme weather left its mark across the planet in 2016, the hottest year in Continue Reading
IEA Dashes Bullish Sentiment In Oil
Oil prices fell back from their highs earlier this week after the Forties outage, as the IEA dashed hopes of continued bullish momentum when it reported that the global supply Continue Reading
Iraq Begins To Rebuild Largest Refinery
Iraq began to rebuild its largest oil refinery this week, jumpstarting an effort to reconstruct the country after a three-year war with the terroristic Islamic State, an announcement from the Continue Reading
China’s CNPC Considers Taking Over South Pars Gas Field
China National Petroleum Corporation (CNPC) is mulling the taking over of the majority stake in an Iranian gas project from Total if the French company walks out of Iran to Continue Reading
Nigeria: Govt Loses N7.6 Trillion to Faulty Oil Sector Agreements
The Federal Government has lost $21 billion (about N7.6trn) to faulty agreements with international oil companies from 1993 to 2017. Addressing State House reporters after the cabinet meeting yesterday, the Continue Reading
Paralysis at PDVSA: Venezuela’s oil purge cripples company
Decisions at some joint ventures with foreign firms are delayed. A growing number of oil tankers sit idle because no one authorizes payments. Employees struggle to get approval for routine Continue Reading
Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
Venezuela’s cash-strapped state oil firm PDVSA said that it had initiated bank transfers on Thursday to pay US$539 million in interest on four separate bonds, just hours before grace periods Continue Reading