Oil Markets Hit By Financial Turmoil
Over the past few months, a long line of U.S. shale companies has begun a “spring cleaning” of their portfolios, according to Rystad Energy. – U.S. onshore shale companies are Continue Reading
Deloitte: WCS-WTI Oil Price Gap Could Ease In 2018
The wide discounts to which Canadian oil benchmarks are priced to WTI could diminish later this year as increased refinery capacity on both sides of the border would give more Continue Reading
Investors Reward Big Oil’s Frugality
Belt-tightening has been the policy of necessity in the oil industry over the past three years, and even the price recovery that began at the end of 2016 did not Continue Reading
Upstream Oil Investments Bounce Back
Until recently, oil industry analysts and executives were lamenting the slump in global investment in upstream oil, and many continue to predict a looming oil supply shortage in the early Continue Reading
Houthi Missile Hits Saudi Oil Tanker
A Saudi oil tanker was targeted by the Iran-aligned Houthi movement on Tuesday afternoon local time off Yemen’s port of Hodeidah, sustaining minor damages and completing its course north, Saudi-owned Continue Reading
Iraq Unveils Plan To Diversify Away From Oil
Iraqi Prime Minister Haider Al Abadi on Sunday unveiled an ambitious plan to end its dependence on oil through building up its private sector over the course of just five Continue Reading
Shell agrees to sell stake in Gaza Marine gas field, offshore Palestine
Anglo-Dutch major Shell will sell its entire 90% stake and operatorship of the 1 Tcf Gaza Marine gas project, offshore Palestine, to a local investment company, which plans to bring Continue Reading
Offshore Brazil among the world’s best oil basins, Wintershall says
The oil basins off the coast of Brazil are among the best prospects in the world, German energy company Wintershall said after the latest auction. The Brazilian government offered nearly Continue Reading
China’s State Owned Media Proclaims Petroyuan Will “Shake People’s Confidence In The US Dollar”
Just days after initiating its ‘petroyuan’ futures contract , and hours after an unprecedented announcement that China will pay for oil in yuan , The Global Times, the unofficial mouthpiece Continue Reading
China Retaliates Against U.S. With Plans for Tariffs on American Goods
China responded to the Trump administration’s latest proposed penalties on Chinese goods, announcing 25% tariffs on critical American exports, including soybeans, airplanes, and autos. The Ministry of Commerce said the Continue Reading