Tag: oil

Tuesday, September 17th 2019 - 09:49 UTC
US ready for a response to attack on Saudi oil facilities; China and Russia call for restrain

The United States readied its response on Monday to the “unprecedented” attack on Saudi oil facilities as President Donald Trump said Iran was likely to blame, fanning new fears of conflict in the Gulf region.
Friday, September 6th 2019 - 09:53 UTC
Major oil companies billions in investments incompatible with Paris climate accord, claims energy think-tank

Major oil companies have approved US$50 billion of projects since last year that will not be economically viable if governments implement the Paris Agreement on climate change, think-tank Carbon Tracker said in a report published on Friday.
Wednesday, August 28th 2019 - 09:03 UTC
BP divests from Alaska's Prudhoe Bay to concentrate in Texas shale

British oil giant BP on Tuesday agreed to sell all its Alaskan properties for US$5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.
Friday, August 23rd 2019 - 09:50 UTC
Premier Oil trying to sell part of its Falklands' Sea Lion project

Premier Oil is selling its stake in a “world-class” project off the coast of Mexico and wants to reduce its holding in a long-awaited scheme north of the Falkland Islands as it tries to lighten its US$ 2bn debt burden, reports the Financial Times.
Friday, August 23rd 2019 - 09:34 UTC
Oil super majors investing heavily in West Texas Permian

The towns in the heart of the Permian in West Texas—once notoriously known as boom or ghost towns depending on the price of oil and drilling activity—have seen steady growth since 2017 and look to expand community and school services as the boom hasn’t been affected by the recent oil price slide.
Wednesday, July 31st 2019 - 09:25 UTC
Economic decline of Venezuela since 2013 estimated at 65% by the IMF

The cumulative decline of the Venezuelan economy since 2013 will reach 65%, among the deepest five-year contractions around the world over the last half-century, the International Monetary Fund has announced.
Tuesday, July 2nd 2019 - 09:20 UTC
Oil prices slip despite OPEC cuts: fears of a weakening global economy

Oil prices slipped on Tuesday as worries that a weakening global economy would dent demand for the commodity outweighed the Organization of the Petroleum Exporting Countries' (OPEC) decision to extend supply cuts until next March.
Thursday, June 27th 2019 - 15:10 UTC
Argentina's shale boom at Vaca Muerta seems to be finally taking off

By Tsvetana Paraskova for Oilprice.com - After years of drilling and development and billions of U.S. dollars of investment, Argentina’s vast shale play Vaca Muerta has finally seen the first tangible results with the first exports of light crude oil and liquefied natural gas (LNG) from the resource-rich formation.
Wednesday, June 5th 2019 - 10:50 UTC
PDVSA: Venezuelan oil exports fall 17% in May

Venezuelan oil exports fell by 17% in May compared to April, due to the difficulty to sell barrels of heavy crude oil that US refiners used to buy and process before the sanctions imposed on the Nicolás Maduro government, reported Reuters.
Friday, May 31st 2019 - 09:24 UTC
Pompeo blames Iran for attacks on oil tankers: “they want to raise the price of crude”

US Secretary of State Mike Pompeo on Thursday blamed Iran for attacks this month on oil tankers in the Gulf, saying it was an effort by Tehran to raise the global price of oil.