Acquisition contributes to Transocean loss
A net loss for the first quarter was attributed in part to the acquisition of rival Songa Offshore, which Transocean said supported its rig fleet. The rig company, which has Continue Reading
Shell Wants Deepwater Breakevens Below $40
Even though Brent Crude prices hit $75 a barrel on Monday, Shell continues to stick to disciplined spending and wants deepwater projects to break even at $40 a barrel or Continue Reading
Putin looks at mending fences with west to revive Russia’s economy
President Vladimir Putin is contemplating an effort to repair relations with the west as sanctions and growing international conflict obstruct attempts to reinvigorate Russia’s stagnant economy. Ahead of his inauguration Continue Reading
Russia says its sea-based nuclear power plant is safe. Critics call it a ‘Floating Chernobyl.’
If a Russian state-owned company has its way, remote regions of the world will soon see giant, floating nuclear reactors pumping power to port cities and drilling platforms in a Continue Reading
Russian Oil Turns Its Back On Its Biggest Customer
At the beginning of this year, Russia doubled the capacity of pipeline exports to China, where it has been the top oil supplier for more than a year after overtaking Continue Reading
Nord Stream 2, other disputes fail to dent Russian natural gas flows to EU
Russia’s Gazprom continues to supply high volumes of natural gas to the EU despite long-running disputes over pipelines, competition and Ukraine, the latest S&P Global Platts guide to EU-Russian natural Continue Reading
Oil pares gains, market supported by Iran worries
Oil prices held steady on Tuesday as the dollar remained near a four-month high, with crude supported by worries that U.S. President Donald Trump may pull out of the Iran Continue Reading
Oil Surges After Netanyahu Says Iran Had Secret Nuclear Weapon Plan
Israeli prime minister says Iran is lying ‘big time’ France, Iran pledge joint effort to preserve the accord Crude rose after Israeli intelligence about Iranian nuclear ambitions heightened concern an Continue Reading
OPEC April oil output hits year low on Venezuela slide: Reuters survey
OPEC oil output fell in April to a one-year low due to declining production in Venezuela and lower shipments from African producers, a Reuters survey found, sending compliance with a Continue Reading
Soaring Oil Prices See Saudi Economy Bounce Back
Saudi Arabia’s success in leading both OPEC and non-OPEC production partners in reigning in record high OECD oil inventories amid the group’s ongoing oil output cut is starting to pay Continue Reading
Expert Analysis: Is This The End Of The Iran Deal?
The deadline for President Trump to re-certify the Iran nuclear deal and issue a waiver for sanctions is less than two weeks away. All signs point to President Trump declining Continue Reading
Netanyahu: Iran Nuclear Deal Is Based on Lies – Here’s the Proof
Israeli Prime minister Benjamin Netanyahu speaks during a news conference at the Ministry of Defense in Tel Aviv, Israel April 30, 2018. Prime Minister Benjamin Netanyahu revealed a cache of Continue Reading
Israel presents Iran nuclear files, putting pressure on U.S. to scrap deal
Israeli Prime Minister Benjamin Netanyahu stepped up pressure on the United States to pull out of a 2015 nuclear deal with Iran, holding a primetime address on Israeli TV to Continue Reading
Higher Oil Prices Could Jeopardize India’s Economy
India—the world’s third-largest oil importer—is one of the biggest losers of the higher oil prices in recent months, as the increased price of oil widens its trade deficit, puts more Continue Reading
Venezuela Offers India 30% Discount On Oil…If It Pays In Cryptocurrency
Venezuela has offered India a 30-percent discount on crude oil purchases, but only if India agrees to pay in El Petro, the cryptocurrency that Venezuela is touting as the first Continue Reading
U.S. crude output jumps to record 10.26 million barrels per day in February: EIA
U.S. crude oil production jumped 260,000 barrels per day (bpd) to 10.26 million bpd in February, the highest on record, the Energy Information Administration said in a monthly report on Continue Reading
Marathon to become top U.S. refiner with $23 billion Andeavor buy
Marathon Petroleum Corp ( MPC.N ) agreed to buy rival Andeavor ( ANDV.N ) for more than $23 billion in the largest-ever tie-up between U.S. oil refiners, giving the combined Continue Reading
Electric Planes Could Soon Be A Reality
The idea of quiet, low-carbon air travel is a logical extension of the electric vehicle race that has now also reached maritime travel in electric ferries. But there are some Continue Reading
Offshore operators trying to make projects feasible at $50/bbl oil
Operators of offshore oil and gas projects have slashed costs during the oil-price slump, but they also are working to avoid the boom-bust cycles of the past, panelists told an Continue Reading
Boom time comes early to West Texas oil patch
In West Texas, rising oil prices are fueling a sharp economic upswing, lifting employment and pay to records, driving up spending at hotels, restaurants, and car dealerships, and raising the Continue Reading
Russia Sends Oil to China at Europe’s Expense as Trades Upended
Shipments via Russia’s key western ports slump 19% this year Chinese imported pipeline deliveries are soaring from Russia Europe’s oil refineries are increasingly missing out on Russian crude as the Continue Reading
Gazprom completes section of TurkStream pipeline
Components of a natural gas pipeline that will carry Russian reserves through Turkish waters are completed, Russian energy company Gazprom said. “Today at the Black Sea coast of Turkey, the Continue Reading
Norway’s Statoil selling off assets in North Sea
Norwegian energy company Statoil explains sale of non-core assets in the North Sea as part of an effort to focus on greener options. After reporting first quarter earnings below analyst Continue Reading
BP profits surge as output grows, but debt rises
BP’s profits surged in the first three months of the year to their highest since mid-2014, driven by a recovery in oil and gas prices and rapid growth in production. Continue Reading
BP’s oil output drops 5% on year in Q1, offset by natural gas surge
BP’s oil production dropped 5% year on year in the first quarter and it forecast Tuesday a further fall in output in the current quarter, despite a recent surge in Continue Reading