LONDON- The Organization of the Petroleum Exporting Countries and its allies face stiffening competition in 2020, the International Energy Agency said on Friday, adding urgency to the oil producer group’s policy meeting next month.
“The OPEC+ countries face a …
The European Investment Bank said on Thursday it would stop funding fossil fuel projects at the end of 2021, in a landmark decision.
The bank’s new energy lending policy, which was approved with “overwhelming” support, will bar most fossil …
Russian President Vladimir Putin said on Thursday that Saudi Arabia was taking a tough stance on the output deal between OPEC and its allies because of Saudi Aramco’s initial public offering, but that Moscow respected Riyadh’s interests.
Speaking to …
OPEC said on Thursday it expected demand for its oil to fall in 2020 as rivals pumped more despite a smaller surplus of crude in the global market, building a case for the group to maintain supply curbs when …
Growth in global oil demand is expected to slow from 2025 as fuel efficiency improves and the use of electric vehicles increases, but consumption is unlikely to peak in the next two decades, the International Energy Agency said on …
Mexican national oil company Pemex will not pay a ransom demanded by suspected cyberattackers who targeted the firm’s computer systems, Energy Minister Rocio Nahle told reporters on Wednesday.
Nahle, who also serves as chair of the Pemex board, added …
Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said.
The world’s transition away from fossil …
Saudi Arabia Oil and Gas Market, Size, Share, Outlook and Growth Opportunities 2020-2026 – ResearchAndMarkets.com
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The downturn that may ensue if OPEC doesn’t redouble its efforts could be acutely painful for many of the cartel’s members.
With their next meeting just weeks away, OPEC and its partners are showing no impetus for …
Mega-IPOs have a record of causing technical glitches on stock markets as they can lead to a surge in trading orders that swamp an exchange’s system and can prevent investors from buying or selling stock.
RIYADH/DUBAI ( …
Source: Houston Chronicle
A mayor in Venezuela temporarily seized an office belonging to Houston oilfield service company Baker Hughes, claiming that the company “chronically failed to pay municipal taxes.”
Baker Hughes said the office has since been reopened after both …
TEL AVIV, Israel, Nov. 11, 2019 /PRNewswire/ — Delek Group (TASE: DLEKG) (US ADR: DGRLY) (“the Company”) is pleased to announce that Ithaca Energy, its fully-owned North Sea E&P subsidiary, has completed the $2 billion acquisition of Chevron North
Source: Houston Chronicle
The biggest producers in OPEC+ aren’t pushing for deeper oil-supply cuts when the group meets next month, according to delegates across the coalition.
The Organization of Petroleum Exporting Countries and its allies are more likely to stick …
Source: Reuters
LONDON (Reuters) – Royal Dutch Shell is buying French renewable power company EOLFI as part of its plans to ramp up the oil major’s electricity business.
EOLFI has largely focused on solar and wind projects, including offshore wind …
Source: Reuters
CARACAS (Reuters) – Venezuelan state oil company PDVSA and Chevron Corp plan to turn their joint venture Petropiar plant back into a crude upgrader, after months operating as a less complex blending facility, three people familiar with the …
Source: Reuters
VIENNA (Reuters) – The oil market outlook for next year may have upside potential, the secretary-general of producer group OPEC said on Tuesday, appearing to downplay any need to cut output more deeply.
The Organization of the Petroleum …
Source: Reuters
LONDON (Reuters) – Shares in British shale gas explorers fell on Monday morning after the government announced at the weekend that it is imposing a moratorium on fracking.
On Saturday the government said that the gas extraction technique …
Source: Houston Chronicle
Oil held its biggest gain in almost seven weeks after improved U.S. and Chinese economic data aided the demand outlook, while optimism increased that the U.S. and China will resolve their trade dispute.
Futures rose as much …
Crude oil exporters and users probably should get used to high shipping costs.
The freight-rate roller coaster …
Source: Reuters
NEW DELHI (Reuters) – The United States is working with allies to ensure adequate global oil supplies after its sanctions barred nations from buying Iranian crude, U.S. Treasury Secretary Steven Mnuchin said on Friday.
Mnuchin spoke to reporters …
Source: Reuters
LONDON (Reuters) – Darkening clouds over the global economy have led two of the world’s top oil firms to warn investors that promised growth in returns could be at risk for the first time since the 2014 oil …
Source: Reuters
LONDON (Reuters) – OPEC oil output has bounced in October from an eight-year low as a rapid recovery in Saudi Arabian production from attacks on oil plants more than offset losses in Ecuador and voluntary curbs under a …
Source: Houston Chronicle
Oil slid the most in two weeks after Saudi Arabia boosted crude output by more than a million barrels a day against the backdrop of renewed worldwide trade woes.
Futures fell as much as 2.5% in New …
Source: Reuters
LONDON (Reuters) – Royal Dutch Shell warned on Thursday that uncertain economic conditions could slow its $25 billion share buyback program, the world’s largest, after its third-quarter profits easily beat expectations on strong oil and gas trading.
The …
Source: Reuters
LONDON (Reuters) – BP has yet to decide whether to boost its dividend by the end of the year, it said on Wednesday, after its shares fell sharply on the previous day on fears it would defer a …
The initial public offering of Saudi Aramco — the company that is preparing to sell up to a 5% stake — will happen soon, the country’s energy minister said on Wednesday.
The Aramco IPO is “going to …
Source: Reuters
LAGOS/LONDON (Reuters) – Chevron is seeking to sell several Nigerian oilfields as part of a global drive to reshape its portfolio as it focuses on growing its U.S. shale output, banking and industry sources said.
Chevron joins rivals …
Source: Reuters
RIO DE JANEIRO (Reuters) – Oil slicks washing up on beaches along more than 2,000 kilometers (1,240 miles) of Brazil’s northeast coastline could be the worst environmental “attack” in the country’s history, the chief executive of state-run oil …
Source: Houston Chronicle
Oil declined for a second day on expectations of rising inventories at a key pricing point in Oklahoma.
Futures in New York fell as much as 1.4% after dropping 1.5% Monday. Genscape Inc. said oil stored at …
