OPEC+ Will Not Be Formalized
OPEC and Russia-led non-OPEC oil producers are highly unlikely to create some kind of a formal joint organization for managing the oil market, due to the additional bureaucracy and to Continue Reading
Saudi Shake-Up Seeks to Bolster Crown Prince
The new Saudi foreign minister, Ibrahim al-Assaf, seen above in 2013, is a former finance minister. Photo: fayez nureldine/Agence France-Presse/Getty Images At the same time, the king positioned longtime Saudi Continue Reading
Saudi King Shakes Up Cabinet, Keeping Power in Son’s Hands
King Salman of Saudi Arabia shook up the kingdom’s cabinet on Thursday, naming new ministers and security chiefs but keeping the levers of power firmly in the hands of his Continue Reading
Libyan oil revenue dips to $2.4 billion in November: NOC
Libya’s oil and gas revenue dipped to $2.4 billion in November from $2.87 billion in October, but full-year revenue is expected to surge by 76 percent to $24.2 billion, state Continue Reading
Exxon’s Drilling Offshore Guyana Uninterrupted
Exxon is still drilling offshore Guyana despite a run-in with the Venezuelan navy last weekend, the company said, as quoted by Reuters. Initial reports from earlier this week said the Continue Reading
Venezuela: A Real Threat To Guyana’s Oil Boom
Last Friday, the Guyanese government fell after a no-confidence vote, a move that likely was viewed as an opportune moment of weakness in Caracas. A day later, Venezuela’s navy approached Continue Reading
Shell Argentina invests to increase shale output after selling downstream assets
Shell, which two months ago sold its downstream assets in Argentina, said Thursday it will invest in coming years to expand its shale oil output in the country. Photo courtesy Continue Reading
Asia’s Iran crude imports hit more than five-year low in November as sanctions bite
Imports of Iranian crude oil by major buyers in Asia hit their lowest in more than five years in November as U.S. sanctions on Iran’s oil exports took effect last Continue Reading
Cold Spell Boosts Asian LNG Imports
Cold weather and China’s consistent gasification efforts pushed liquefied natural gas imports into Northeastern Asia to a record-high, Reuters reports , citing data from its Refinitiv Eikon service. Since the Continue Reading
Is Solar Growth Really Lagging?
Solar makes sense. It’s cost efficient, it’s eco-friendly and has no carbon footprint, electricity is generated in the same grid where it is consumed, and the price of installing panels Continue Reading