Venezuelan state-owned PdV has nearly exhausted its motor fuel stocks, forcing up to 80pc of the country's more than 2,700 service stations nationwide to suspend sales until further notice, according to four senior officials with the federation of oil unions (FUTPV).
News ID: 2485 Publish Date : 2018/11/02
High oil prices are hurting consumers and could also have adverse implications for producers, the executive director of the International Energy Agency said on Tuesday.
News ID: 2484 Publish Date : 2018/11/01
China will lead global refinery capacity expansion and investments with 3.12 million barrels per day additional refining capacity and $67.3 billion capital expenditure through 2022, data and analytics company GlobalData said in a new report.
News ID: 2478 Publish Date : 2018/10/31
Although the European Union has vowed to create a special purpose vehicle to continue trade with Iran after the US sanctions on Tehran’s oil return next week, the bloc is struggling with the set-up of such vehicle because no EU member is willing to host it for fear of angering the United States, Oil Price reported, citing EU diplomats.
News ID: 2477 Publish Date : 2018/10/31
ConocoPhillips has approved its GMT-2 oil project on the North Slope and construction will begin this winter, a company official said Monday.
News ID: 2473 Publish Date : 2018/10/29
European diplomats say enhanced US financial sanctions against Iran could force the rest of the world to create alternative banking systems that would undermine the long-time dominance of the US dollar.
News ID: 2470 Publish Date : 2018/10/29
Russian Energy Minister Alexander Novak said on Saturday there was no reason for Russia to freeze or cut its oil production levels, noting that there were risks that global oil markets could be facing a deficit.
News ID: 2468 Publish Date : 2018/10/29
Light crude supply from Venezuela is driving up throughput at Cuba´s main oil refinery, at no cost to Havana.
News ID: 2464 Publish Date : 2018/10/28
Iraq will stop trucking crude from its northern Kirkuk oilfield to Iran in November to comply with sanctions imposed on its neighbor by the United States, five sources familiar with Iraqi oil export operations said on Friday.
News ID: 2461 Publish Date : 2018/10/28
Indonesia’s state oil company Pertamina is seeking to buy crude oil for delivery in the first quarter of 2019 using currencies other than the US dollar, a tender document reviewed by Reuters showed on Tuesday.
News ID: 2458 Publish Date : 2018/10/27
A merger between BASF's oil and gas unit Wintershall and DEA, agreed in September, is expected to conclude in 2019 with an eventual initial public offering set to take place in the second half of 2020, BASF CEO Martin Brudermuller said Friday.
News ID: 2451 Publish Date : 2018/10/26
India hasn’t worked out yet a payment system for continued purchases of crude oil from Iran, Subhash Chandra Garg, economic affairs secretary at India’s finance ministry, said.
News ID: 2442 Publish Date : 2018/10/15
Iranian First Vice-President Es’haq Jahangiri highlighted the reasons behind the recent surge in oil prices and said US President Donald Trump wrongly thought that the Saudis were able to replace the reduced share of the Islamic Republic in global oil markets.
News ID: 2441 Publish Date : 2018/10/14
The world is pumping out more oil and other petroleum liquids than ever before.
News ID: 2439 Publish Date : 2018/10/14
UAE has begun to increase oil production in the third quarter and expects further increases through this month and November in line with market requirements, according to a tweet by UAE Energy Minister Suhail Al Mazroui.
News ID: 2436 Publish Date : 2018/10/14
India imported 528,000 bpd of Iranian oil in September, up by 1% from August, due to delays of some August cargos until Indian refiners received the government nod to import Iran’s oil on Iranian tankers with Iranian insurance.
News ID: 2428 Publish Date : 2018/10/13
Oil markets look “adequately supplied for now” after a big production increase in the last six months, but the industry is coming under strain, the West’s energy watchdog said on Friday.
News ID: 2427 Publish Date : 2018/10/13
Chinese refiners are buying more and more very cheap heavy Canadian crude oil to make up for the dwindling supply of Venezuela’s heavy grades as China’s road construction sector—a key consumer of the heavy oil’s bitumen yield—is booming.
News ID: 2426 Publish Date : 2018/10/13
UK shale gas explorer Cuadrilla said Friday it would start fracking at its Preston New Road site in Northwest England on Saturday after a legal challenge was thrown out.
News ID: 2424 Publish Date : 2018/10/12
Oil markets look ‘adequately supplied for now’ after a big increase in production over the last six months but the oil industry is coming under strain as it copes with increasing global demand, the West’s energy watchdog said on Friday.
News ID: 2421 Publish Date : 2018/10/12
