Tag: oil

• Tuesday, October 23rd 2018 - 08:53 UTC

  Saudi Arabia: no intention of a repeat of a 1973-style oil embargo

  

  Saudi Arabia has no intention of unleashing a 1973-style oil embargo on Western consumers and will isolate oil from politics, the Saudi energy minister said on Monday amid a worsening crisis over the killing of Saudi journalist Jamal Khashoggi.

• Wednesday, October 10th 2018 - 17:04 UTC

  Oil Price Rally Boosts Electric Car Sales

  

  Tesla's competition is about to get more crowded next year with many legacy automakers and luxury brands launching a record number of battery electric vehicles and plug-in hybrids.

• Friday, September 28th 2018 - 08:47 UTC

  Oil majors to bid for Brazil's offshore potential despite electoral uncertainty

  

  Oil majors are set to gather in Rio de Janeiro this Friday to unveil bids for stakes in Brazil’s high potential offshore areas ahead of elections that are casting a cloud of uncertainty over the industry.

• Monday, September 24th 2018 - 09:15 UTC

  Petrobras plans to increase output 10% next year to some 2.3 million bpd

  

  Brazil’s state-run oil giant Petrobras aims to raise output as much as 10% to around 2.3 million barrels per day (bpd) in 2019 and cut net debt by US$10 billion, according to Chief Financial Officer Rafael Grisolia. The world’s most indebted oil company is on course to reduce debt to US$ 69 billion by the end of this year despite falling short of its US$ 21 billion asset sales target, Grisolia pointed out.

• Friday, September 21st 2018 - 09:03 UTC

  Falklands could allow floating hotels for oil industry workers

  

  An outline planning application submitted to the Falkland Islands Government, FIG, is seeking approval in principle for the siting of a floating accommodation barge in Stanley Harbor.

• Wednesday, September 19th 2018 - 08:11 UTC

  China agreed to invest US$ 5bn in Venezuelan oil, alleges Maduro

  

  Venezuelan President Nicolas Maduro said on Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing economy.

• Friday, September 14th 2018 - 09:07 UTC

  US, the world's top crude oil producer, but global geopolitical uncertainty prevails

  

  The U.S. Energy Information Administration (EIA) said that the U.S. likely surpassed Saudi Arabia and Russia earlier this year to become the world’s top crude oil producer. The EIA based its disclosure on preliminary estimates in its Short Term Energy Outlook which is released every month.

• Friday, September 14th 2018 - 08:50 UTC

  Maduro in China after more financial support to prop Venezuela's collapsing economy and oil output

  

  Venezuelan President Nicolas Maduro is travelling to China to discuss economic agreements, as the crisis-struck OPEC nation seeks to convince its key Asian financier to disburse fresh loans.

• Friday, August 31st 2018 - 08:29 UTC

  Norway's Equinor plans to invest US$ 15bn in Brazil's oil, gas and renewables

  

  Norway's Equinor will invest up to US$ 15 billion in Brazil over the next 12 years to develop oil, gas and renewable energy sources, the company said. Coinciding with an expected drop in output from many aging oilfields off the cost of Norway, Brazil is expected to become a core region for Equinor as the firm takes advantage of the country’s opening in recent years to more foreign investment.

• Friday, August 31st 2018 - 08:22 UTC

  BP, Shell, Total to bid in Brazil's pre-salt auction

  

  Brazil’s oil regulator ANP has approved the applications of six companies—including Big Oil’s BP, Shell, and Total—to bid in next month’s oil auction of four blocks in the coveted pre-salt layer, ANP announced on Wednesday.