19 Oil Tankers Held Hostage Off Yemeni Coast
The Yemeni Houthis have captured 19 oil tankers and are keeping them from entering the Hodeidah port, according to reports from Saudi media quoting the Kingdom’s ambassador in Yemen. The Continue Reading
Terror Attack Shuts Down Libyan Oil Pipeline
An early report by Reuters cited a source from the pipeline operator Waha Oil Company who said the pipeline had been attacked by “a terrorist group.” Later, parent company NOC Continue Reading
Kuwait Plans Massive Oil Tanker Expansion
Despite the ongoing oil production cuts across OPEC, Kuwait has announced plans to expand its oil and oil product tanker fleet twofold over the next 20 years to 60 vessels, Continue Reading
Iran nuclear deal faces pivotal week as Trump hosts Macron, Merkel
The fate of the Iran nuclear deal could be sealed this week as the leaders of France and Germany visit Washington and make a last-ditch effort to persuade US President Continue Reading
Nigeria: Excess Crude Income Hits U.S.$65.4 Million Daily
Nigeria’s excess crude account is set to swell as the price of Bonny Light leaps towards $75 per barrel in the international market. The price of Bonny Light stood at Continue Reading
Exclusive: Arrested Chevron workers could face treason charge in Venezuela – sources
Two Chevron Corp. employees detained in Venezuela last week could be charged with treason for refusing to sign a parts contract for a joint venture with state-owned oil company PDVSA, Continue Reading
Halliburton remains committed to Venezuela
Oilfield services company Halliburton said it was still committed to the market in Venezuela, even as its Latin American segment saw quarterly revenue decline. Halliburton recorded revenue of $457 million Continue Reading
Brazil Poised For Historic Oil Boom
After being caught up in major corruption scandals and suffering from what some have claimed was its worst economic downturn in 100-years, Brazil has pulled itself back from the brink. Continue Reading
Mexican election spells uncertainty for pace of energy reform implementation
Mexico’s 2018 elections could have far-reaching implications for the country’s energy reform, but any shift in policy would likely come from a slowdown in implementation rather than an outright reversal. Continue Reading
Two Chevron Employees Could Face Treason Charges
The draft charges that used the word treason, seen by Chevon’s own lawyers last week, may put Chevron squarely in the middle of the escalating feud between PDVSA and foreign Continue Reading