Tullow Threatens to Derail Kenya’s Fledgling Oil Industry
Kenya’s oil industry is facing new challenges as Tullow Oil threatened over the weekend to shut down its oil wells in the Lokichar basin if the government does not act Continue Reading
Iran Overtakes Saudi As India’s Second Largest Oil Supplier
Iran has overtaken Saudi Arabia as India’s number two oil supplier in the April-June quarter, India’s oil minister said on Monday. Iraq remains India’s number-one supplier of crude. While Iran Continue Reading
Sri Lanka Looks To Pay For Iranian Crude With Tea
Sri Lanka will pay down its oil debt held by Iran with tea in response to new regulations that Sri Lanka has issued in order to comply with a UN Continue Reading
Germany Encourages India To Keep Buying Oil From Iran
Germany’s minister of state for foreign affairs has encouraged India to continue buying Iranian oil, despite pressure from the United States, which Niels Annen called “irritating, to put it mildly.” Continue Reading
Guyana’s Oil Reserves Are Larger Than Expected
. Gross discovered recoverable resources for Hess’s Stabroek Block has been revised upward to 4 million barrels of oil equivalent—up from the previous estimate of 3.2 billion barrels. “The Stabroek Continue Reading
China’s $74bn cash injection highlights growth worries
China’s central bank injected Rmb502bn ($74bn) into its banking system on Monday to help fortify a weakening domestic economy against the impact of an escalating trade war with the US Continue Reading
Taiwan Refiner Samples U.S. Crude
Taiwanese refiner Formosa Petrochemical Corp has bought its first-ever cargo of U.S. crude oil—Mars grade—as part of efforts to diversify supplies, Reuters reports , citing a company spokesman. The spokesman, Continue Reading
China unveils fresh measures to boost growth
China has announced a mix of tax cuts and infrastructure spending citing “uncertainty”, as it ramps up efforts to stimulate demand and counteract a weakening economy. The move, announced late Continue Reading
Halliburton sees North America as the best market
In announcing gains insecond-quarterr revenue, drilling services company Halliburton said North America is the fastest growing energy market in the world. Halliburton reported total revenue for the three months ending Continue Reading
Trump Is Right on Nord Stream 2
President Trump was right to criticize Chancellor Angela Merkel’s plan for a new pipeline carrying Russian natural gas to Germany. This project threatens European independence and the North Atlantic Treaty Continue Reading