Israel’s Delek Group confirmed on Sunday it submitted a proposal through its Ithaca unit to buy Chevron’s oil and gas fields in the British North Sea. Last week Reuters reported Continue Reading
Eastern Libyan state oil firm AGOCO, a subsidiary of state oil firm NOC, is producing 304,000 barrels a day of oil, its chairman told Reuters on Sunday. Mohamed Shatwan said Continue Reading
Uncertainty over the outlook for oil prices and weaker global economic conditions have added pressure on Middle East oil exporters to deepen reforms and boost job creation, the International Monetary Continue Reading
OPEC de facto leader and the world’s largest oil exporter Saudi Arabia has now officially joined the ranks of the world’s ever-expanding liquefied natural gas (LNG) exporters club. State-owned Saudi Continue Reading
A top Iranian military official repeated a threat to shut the Strait of Hormuz if the country’s oil shipments are blocked by US sanctions, at the same time an official Continue Reading
The National Union of Petroleum and Gas Workers (NUPENG) has urged the federal government to reject the advice given by the International Monetary Fund (IMF) on fuel subsidy. NUPENG also Continue Reading
Indian refiners processed 22.5 million mt, or an average 5.3 million b/d, of crude oil in March, up 6,5% year on year, latest data from the oil ministry showed, reflecting Continue Reading
Tighter U.S. sanctions on Iranian oil planned for May are adding to a wealth of factors curbing the global supply of heavy-medium crude, driving up prices for scarcer barrels and Continue Reading
US sanctions came into effect Sunday to block Venezuela’s economic lifeline of oil exports, in what Washington hopes will be a major blow in its fledgling campaign to topple leftist Continue Reading
A deadly disease sweeping China’s hog barns is reinvigorating the fortunes of U.S. meat companies. Outbreaks of African swine fever have led to the culling of millions of hogs in Continue Reading
China will ban imports of pigs, wild boars and related products from Cambodia, its customs said on Monday, after the Southeast nation reported its first case of the highly-contagious disease. Continue Reading
Treasury Secretary Steven Mnuchin said on Sunday that trade talks between the United States and China were entering a critical point as an American delegation heads to Beijing this week Continue Reading
China’s total fixed-asset investment in transport infrastructure hit 488.9 billion yuan ($72.66 billion) from January to March this year, up 4.8 percent from a year earlier, according to official data Continue Reading
Big Oil plans to spend nearly US$5 trillion in capital expenditure over the next decade, much of which would go into adding new production. Yet this money will also bring Continue Reading
While European oil supermajors are yielding to investor pressure to set emission reduction targets and announcing investments in renewables and EV charging networks, U.S. majors ExxonMobil and Chevron are doubling Continue Reading
After reporting lower than expected earnings, ExxonMobil’s stock price sold off on Friday. The company blamed poor performance on reduced production volumes and a weaker oil price. However, the real Continue Reading
Reuters reported earlier this month that South Korea has been testing WTL, a super-light oil, as a possible substitute for Iranian condensate as it seeks alternatives for those shipments after Continue Reading
Anadarko Petroleum Corp, the U.S. oil and gas exploration and production company that agreed this month to sell itself to Chevron Corp for $33 billion, decided on Sunday to begin Continue Reading
Anadarko Petroleum is preparing to endorse a hostile $55bn bid from its rival Occidental Petroleum, putting its sale to oil major Chevron in jeopardy, according to people with knowledge of Continue Reading
The Environmental Protection Agency published a 150-page document this past week with a straightforward message for coping with the fallout from natural disasters across the country: Start planning for the Continue Reading
While European oil supermajors are yielding to investor pressure to set emission reduction targets and announcing investments in renewables and EV charging networks, U.S. majors ExxonMobil and Chevron are doubling Continue Reading
Flows of Russia’s key Urals crude exports to Europe via the Druzhba pipeline are likely to be disrupted well into May as deliveries remain suspended following a major crude contamination Continue Reading
Greenpeace activists on Monday climbed aboard a Seadrill drilling rig commissioned by Equinor in protest against oil and gas drilling in the Norwegian Arctic, the group told Reuters. Four activists Continue Reading
Oil futures ended the week sharply lower as traders booked profits amid indications of a possible uptick in OPEC output. ICE June Brent settled $2.20 lower at $72.15/b and NYMEX Continue Reading
U.S. President Donald Trump said on Friday that he “called up” OPEC and told the cartel that they have to bring gasoline prices down. “The gasoline prices are coming down. Continue Reading
The the number of active oil and gas rigs fell sharply in the United States this week according to Baker Hughes, the second large drop in as many weeks, keeping Continue Reading
Oil prices fell 3% on Friday after U.S. President Donald Trump again pressured the Organization of the Petroleum Exporting Countries to raise crude production to ease gasoline prices. Profit-taking from Continue Reading
Two Trump administration officials said on Friday that neither a wind-down period nor a short-term waiver on China’s oil purchases from Iran are being contemplated after Washington surprised Iran’s customers Continue Reading
With increased global competition in the crude oil production space, and the need to find a solution to the rising subsidy payments, the Nigerian National Petroleum Corporation (NNPC), has said Continue Reading
Saudi Arabia has hinted on the possibility of establishing a refinery in Nigeria. Minister of Energy Industry and Mineral Resources of the Kingdom of Saudi Arabia, Khalid Al Falih dropped Continue Reading
Highlights To sign MOU on energy investment Saudi Aramco looking at building oil refinery in Nigeria Nigerian refining in urgent need of investment London — Saudi Arabia is looking to Continue Reading
The Waorani people of the Amazon in Ecuador have renewed their vow to continue their fight to keep their ancestral land off limits for oil drilling, threatening to defend their Continue Reading
Australia has joined the growing list of U.S. crude oil importers with two tankers currently en route to Down Under with cargoes of light U.S. crude, Reuters reports , citing Continue Reading
China and the US are in an intense standoff over Iranian crude oil, with China indicating they may continue to import those medium and heavy barrels even after a sanctions Continue Reading
The Michigan City Generating Station, one of NIPSCO’s coal-fired power plants, sits on the shore of Lake Michigan. Burning coal contributes greenhouse gas emissions that fuel climate change, but that Continue Reading
The memo was signed by Russell Vought, a former top official at the political arm of the conservative Heritage Foundation who is now acting director of the White House Office Continue Reading
The Trump administration failed to adequately consider oil spills, climate change and the welfare of polar bears in its expedited study of proposed drilling in Alaska’s Arctic National Wildlife Refuge, Continue Reading
Chevron Corp’s first-quarter profit fell 27 percent from a year earlier due to lower crude oil prices and weaker margins in its refining and chemicals businesses, but topped forecasts and Continue Reading
The world’s largest oil companies are reporting underwhelming first-quarter profits as an array of geopolitical challenges and weaker prices around the world slowed recent progress in generating excess cash and Continue Reading
ExxonMobil is interested in acquiring more assets in the Permian Basin of Texas and New Mexico, the heartland of the US shale oil boom, and could do a substantial deal, Continue Reading
Rumors of the economic expansion’s death appear to have been greatly exaggerated. Gross domestic product, the broadest measure of goods and services produced in the economy, rose at a 3.2 Continue Reading
President Donald Trump is considering a delay in the introduction of a plan for the expansion of oil and gas drilling in federal waters until after the 2020 elections, Bloomberg Continue Reading
Highlights Emissions reductions counted heavily in benefits Higher renewables could create uncertainty After months of environmental groups’ claims that PacifiCorp was hiding the true economic picture of its coal-fired generation, Continue Reading
Output gains in the US Permian Basin helped drive first-quarter oil production growth for ExxonMobil and Chevron, the companies said Friday. Now ExxonMobil’s first-quarter total upstream liquids production rose 5% Continue Reading
Exxon Mobil Corp.’s worst refining performance in almost two decades may revive questions from analysts about the so-called integrated model engineered by founder John D. Rockefeller and espoused by every Continue Reading
PG&E Corp. can’t prevent its power lines from sparking the kinds of wildfires that have killed scores of Californians. So instead, it plans to pull the plug on a giant Continue Reading
Russia is holding talks with Ukraine, Poland, and Belarus over a contamination of its crude oil that had Poland, Slovakia, Ukraine, and Belarus shut down their sections of the Druzhba Continue Reading
– Russia’s Rosneft does not see tougher U.S. sanctions on Iran resulting in a global oil deficit in the second and third quarters of 2019, CEO Igor Sechin said on Continue Reading
Oil prices dipped on Friday on expectations that OPEC will raise output to counter shrinking exports from Iran after sanctions imposed by the United States, where crude stocks have swelled. Continue Reading
Brent crude hit $75 per barrel on Thursday for the first time in nearly six months after quality concerns suspended some Russian crude exports to Europe while the United States Continue Reading
