Oil Demand Growth Could Start To Soften Soon
OPEC may tout the production cuts pact as the key driver of oil market rebalancing, but if it weren’t for the strong global oil demand growth of the past three Continue Reading
Second oil storage tank on fire in fighting at Libya’s Ras Lanuf
BENGHAZI, Libya (Reuters) – An oil storage tank at the Ras Lanuf port in Libya was ablaze on Sunday amid fighting between rival factions for control of the terminals in Continue Reading
A look at Saudi Arabia and the new economics of oil
There is absolutely no doubt that the next Opec ministerial meeting this week will pit Saudi Arabia and its Gulf allies against Iraq, Iran and Venezuela, three founder members of Continue Reading
Libya’s NOC confirms two crude storage tanks destroyed in Ras Lanuf attacks
The attacks last week on Libya’s eastern oil terminals destroyed two crude oil storage tanks at Ras Lanuf, cutting its storage capacity by 42% to 550,000 barrels, the National Oil Continue Reading
Nigeria: Ndaf Warns of Plans to Attack Agip Facilities in Niger Delta
Niger Delta Activists Forum, NDAF, has warned of planned attacks on oil facilities in the Niger Delta belonging to Nigeria Agip Oil Company, NAOC. Addressing newsmen yesterday, the group said Continue Reading
Iran Says Three OPEC Members to Veto Saudi-Proposed Supply Boost
Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Continue Reading
India’s ‘worst water crisis in its history’ is only going to get worse
India is suffering from the worst water crisis in its history and around 600 million people face a severe water shortage, according to a government think tank. Approximately 200,000 people Continue Reading
Nigeria plunged in to darkness by power grid meltdown as millions watched World Cup build-up on TV
NIGERIA suffered a major power cut on the first day of its World Cup campaign, according to local reports. The power grid melt down came on the same day the Continue Reading
Deadly Tensions Rise as India’s Water Supply Runs Dangerously Low
When the Indian resort town of Shimla ran severely low on water last month, “key men” like Inder Singh — who open and close the valves that supply water to Continue Reading
Venezuela Forced To Shut Down Production As Operations Fall Apart
There are now signs that its oil industry is entering a dangerous new phase. Argus Media reports that Venezuela has begun to “proactively shut in oil production to cope with Continue Reading