Oil Rises On Major Crude Draw
The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 9.517 million barrels for the week ending September 11. Analysts had predicted an inventory draw Continue Reading
Oil Gains After Report of Surprise Drop in U.S. Crude Stocks
Oil extended gains to near $39 a barrel in New York, buoyed by an industry report of a surprise drop in U.S. crude stockpiles and advances in other financial markets. Continue Reading
Oil Prices Rise On Hurricane Outages
Oil prices rose on Tuesday afternoon, ahead of the weekly crude inventory data releases, but traders remain concerned about the pace of the recovery in global oil markets. After a Continue Reading
Officials say east Libya government resigns amid protests
An interim government in eastern Libya resigned on Sunday amid street protests that erupted across the divided country over dire living conditions, officials said. Prime Minister Abdallah al-Thani submitted the resignation Continue Reading
Mediterranean Tensions Flare Up As Israel Rehabilitates Pipeline
The Arab Spring was the start of an ideological conflict between Turkey and the wealthy Arab Gulf nations. Turkish assertiveness is strengthened by an expanding economy and a brand of Continue Reading
Iran Boosts Oil Output At Oilfields Shared With Iraq
Iran has raised oil production from the oilfields in its southwest it shares with Iraq to 400,000 barrels per day (bpd) from 70,000 bpd in the past seven years, Shafaq Continue Reading
Israeli advisory council recommends approval of Chevron takeover of Noble
Israel’s advisory Petroleum Council has recommended the country’s energy ministry approve US major Chevron’s $5 billion takeovers of Noble Energy, operator of the Leviathan and Tamar offshore gas fields. In Continue Reading
EU warns of ‘watershed’ moment with Turkey over gas exploration
EU foreign policy chief Josep Borrell warned Sept. 15 the bloc’s relations with Turkey had reached a “watershed” moment over Ankara’s continued exploration work in the East Mediterranean. Not registered? Continue Reading
LNG Terminal to Nearly Double Middle East Import Capacity
Kuwait aims to open what will be the Middle East’s largest import terminal for liquefied natural gas in March, according to two people familiar with the project. The Al-Zour plant Continue Reading
Ticking Time Bomb in Venezuela: Gasoline Shortage Worsens and Pandemic Spikes
Gasoline shortages are becoming more acute across Venezuela (Twitter). Spanish – An uptick in coronavirus cases amid the most severe gasoline shortages exacerbates the crisis in the country with the Continue Reading