Discussions between India’s largest company, Reliance Industries, and Aramco, the world’s single biggest oil producing firm, have hit a stumbling block as the Indians want higher valuation than the Saudis Continue Reading
Venezuela, the country sitting on the world’s largest oil reserves, could be pumping as little as below 500,000 bpd of crude oil next year amid the economic and political crisis, Continue Reading
Hope for crisis-stricken Venezuela may be dwindling, but Chevron—who has been steadfastly operating in the country for almost 100 years despite the unattractive business environment—can rest a bit easier today Continue Reading
The Trump administration is split over whether to renew a license this week for energy company Chevron Corp’s ( CVX.N ) operations in Venezuela, with Secretary of State Mike Pompeo Continue Reading
A Chinese bank asked a federal judge on Tuesday to deny Philadelphia Energy Solutions’ initial bankruptcy requests, arguing it should get priority over any insurance payouts after a June fire Continue Reading
The U.S. has sanctioned a Chinese state oil trader for violating restrictions on Iranian crude, an attempt to tighten restrictions on the Islamic Republic and cut off one of its Continue Reading
An increasingly tighter supply of heavy crude will in all likelihood help Canada’s oil industry weather the unfavorable effects of the so-called IMO 2020 rules, which stipulate a much lower Continue Reading
Operators in the Permian have been failing to report the completion of some oil wells, according to one data analytics company. Hydraulic fracturing (fracking) activity was underreported by 21 percent Continue Reading
Record-high temperatures are expected across France – including the capital, Paris The French city of Bordeaux has hit its highest temperature since records began, as Western Europe braces for the Continue Reading
French nuclear generation fell to 38 GW Wednesday as 4 GW of heat-related restrictions took effect at the Golfech and Saint Alban nuclear plants in southern France, data by grid Continue Reading
Oil prices edged up on Tuesday on concerns about possible supply disruptions in the Middle East, but a weaker demand outlook kept a lid on gains, helped by a vow Continue Reading
Crude oil futures were largely stable during mid-morning trade in Asia Tuesday as reports on the availability of emergency stocks eased supply concerns stemming from geopolitical tensions in the Middle Continue Reading
Fears of weak oil demand are taking over the market, overshadowing tanker battles in the Persian Gulf, something that would have typically sent oil prices skyrocketing. However, demand may also Continue Reading
The oil market has changed so much over the past five years that fast-growing non-OPEC oil production limits oil price gains from a spike in tensions in the Middle East, Continue Reading
Escalating tensions in the Strait of Hormuz forced Asian refiners and shipowners to weigh alternative crude sources, deploy contingency plans and boost safety measures for navigation along Iran’s coastal areas, Continue Reading
While the Persian Gulf crisis continues to escalate, oil markets have put Libya’s ongoing civil war on the backburner. This weekend, the shutdown of OPEC producer Libya’s giant Sharara field Continue Reading
Libya has lifted its force majeure on Monday after it stopped loading crude oil for the weekend from the Zawiya terminal following the suspension of production from the country’s largest Continue Reading
Curacao’s prime minister and Venezuela’s oil minister discussed the possibility of Venezuelan state oil company PDVSA remaining as the operator of the Caribbean nation’s 335,000 barrel-per-day (bpd) Isla refinery, Curacao’s Continue Reading
Power failures have become common in Venezuela as what was once the region’s wealthiest country has plunged into chaos and economic output has more than halved in the last five Continue Reading
JXTG Holdings, Japan’s biggest oil refiner, said on Tuesday it plans to close a 115,000 barrel per day (bpd) Osaka refinery that it owns with PetroChina next year, amid falling Continue Reading
Solar modules prices in the United States have reversed in recent months the trend of steady declines of the past few years, as many U.S. solar companies are hoarding panels Continue Reading
Halliburton’s second quarter earnings are a mixed bag as the oilfield services company sees profits plummet while international operations increase revenues. Halliburton Company saw its second quarter profits take a Continue Reading
Offshore oil and gas operators in the Gulf of Mexico are resuming normal operations following tropical storm Barry. Offshore oil and gas operators in the Gulf of Mexico (GOM) are Continue Reading
Low European-delivered thermal coal prices and high utility inventories caused May exports of Russian thermal coal to dip for the first time in 10 months, according to trading sources. Receive Continue Reading
Oil prices rose more than 2% on Monday on concerns that Iran’s seizure of a British tanker last week may lead to supply disruptions in the energy-rich Gulf. Brent crude Continue Reading
Crude oil futures kicked off the week on a stronger note in mid-morning trade in Asia Monday, buoyed by renewed supply concerns on mounting geopolitical tensions in the Middle East, Continue Reading
Sentiment in the oil market has shifted dramatically in recent days, with hedge funds, producers and traders all taking a more bearish tack in response to what they see as Continue Reading
The International Energy Agency (IEA) said that it would cut its oil demand forecast due to a slowing global economy. “China is experiencing its slowest economic growth in the last Continue Reading
No further energy exploration or drilling ships are necessary in the eastern Mediterranean for now, Turkish Foreign Minister Mevlut Cavusoglu said on Monday as a dispute continued over Turkish drilling Continue Reading
The Aramco IPO story seems more and more to be a line from the world famous story of “Scheherazade and 1001 nights”. As the famous princess needed to tell stories Continue Reading
Libya’s state oil company National Oil Corporation (NOC) declared force majeure late on Saturday at the country’s largest oilfield, El Sharara, after it was shut down the previous day due Continue Reading
Nigeria is currently losing $25 billion annually to illegal oil bunkering and insecurity on the nation’s waterways. This was disclosed by the immediate past minister of transportation, Rt. Hon Rotimi Continue Reading
Kazakhstan’s North Caspian Operating Company, which manages the giant Kashagan oil field, is planning further production increases after recent upgrade and maintenance work, and aims to present a new project Continue Reading
China recorded a year-on-year decline in its gasoline production in June 2019, the first time so far this year, which has also been rarely seen over past years. The country Continue Reading
BMW Brilliance Automotive (BBA) has become the first automobile manufacturer to enable full 5G wireless coverage at all its plants. The new wireless standard allows large quantities of data to Continue Reading
With financial stress setting in for U.S. shale companies, some are trying to drill their way out of the problem, while others are hoping to boost profitability by cutting costs Continue Reading
Philadelphia Energy Solutions (PES) filed for its second Chapter 11 bankruptcy in less than two years on Sunday, a court filing showed, a month after a fire and explosion led Continue Reading
Offshore oil and gas operators in the Gulf of Mexico are resuming normal operations following tropical storm Barry. Offshore oil and gas operators in the Gulf of Mexico (GOM) are Continue Reading
As Poland’s biggest refiner publicly criticized the deteriorating quality of Russian oil, a suspect in the investigation into pipeline contamination that has severely disrupted Russian supplies is seeking asylum in Continue Reading
Oil prices rose about 1 percent on Friday after steep losses a day earlier, supported by rising tensions between the United States and Iran, even as concerns that slowing economic Continue Reading
The International Energy Agency (IEA) doesn’t expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director said on Continue Reading
Two Iran-flagged vessels have been sitting idle at Brazilian ports for weeks because they need fuel to return to Iran, but Brazil’s Petrobras refuses to sell them fuel because of Continue Reading
Iraq is confronting a major strategic vulnerability — its lack of diversified oil export routes — as Iran continues to disrupt shipping lanes amidst rising tension with the U.S. More Continue Reading
The Iranian National Guard Corps is claiming that is has seized a British oil tanker for violating International maritime law, according to a developing report carried by PressTV . The Continue Reading
The Iranian National Guard Corps is claiming that is has seized a British oil tanker for violating International maritime law, according to a developing report carried by PressTV . The Continue Reading
Highlights Stena Impero chemical tanker seized, VLCC Mesdar released Iran’s IRGC says it seized Stena Bulk for shipping violation: state TV UK foreign secretary ‘extremely concerned’ by incidents Washington — Continue Reading
Mexico’s controversial Dos Bocas oil refinery project will indeed be built despite investor criticism, Mexican Energy Minister Rocio Nahle said during a radio broadcast on Thursday, reported by Reuters . Continue Reading
A massive explosion has been reported at China’s Yima gas plant in Henan province, damaging buildings in a 3-kilometer radius. The casualties are still unknown as of the time of Continue Reading
In order to meet the growing demand for electricity, China’s biggest power generator, China Energy Group is planning to build 11 gigawatts (GW) of new coal power during this and Continue Reading
U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as drillers follow through on plans to cut spending with oil Continue Reading
