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Petroleumworld Top Headlines
Stories are not allways available on the Petroleumworld site after 90 days.

Top Headlines 2016

 

Top Headlines 2017 January/June

 

Top Headlines 2017

LNG glut may be shrinking



Bloomberg New Energy Finance cuts peak oversupply outlook 34%. China seen becoming top importer as it shifts to cleaner fuels

By Dan Murtaugh

SINGAPORE
Petroleumworld 09 14
2017

Mizuho Bank withdrew from Chilean hydroproject with $20 million write off


Reuters/Ivan Alvarado


Workers of Alto Maipo hydroelectric project gather close to the town of El Alfalfal, in a pre-mountain range area on the outskirts of Santiago, Chile August 9, 2017.

By Gram Slattery

SANTIAGO
Petroleumworld 09 14 2017

Global oil-demand growth strongest in two years- IEA


Inventories of refined fuels returning to average levels. Hurricane Harvey's impact on oil markets to be ‘short-lived'

By Grant Smith

LONDON
Petroleumworld 09 13
2017

Mexico will expand oil hedge as fuel prices float, Finance Minister says


Operations almost finished Meade says; Cost likely similar to 2017 hedge.

By Carlos M Rodriguez and Nacha Cattan

MEXICO CITY
Petroleumworld 09 13
2017

Irma moves Northwest Florida as Hurricane threatens agricultural markets


Irma cuts power to 4.5 Million, shuts ports and imperils crops

By Mark Chediak, Brian K Sullivan, and Megan Durisin

SAN FRANCISCO/BOSTON/CHICAGO
Petroleumworld 09 11
2017

Saudis discuss oil supply cuts extension with Venezuela, Kazakhstan

Reuters/Anton Vaganov

Saudi Arabian Energy Minister Khalid al-Falih attends a meeting of the 4th OPEC-Non-OPEC Ministerial Monitoring Committee in St. Petersburg, Russia July 24, 2017.

By Rania El Gamal

DUBAI
Petroleumworld 09 11
2017

 

By Javier Blass

LONDON
Petroleumworld 09 01
2017

Latin America fuel traders are pointing at PDVSA waiting gasoline cargos


Traders looks to Venezuelan waiting to be deliver fuel cargoes as Harvey swamps U.S.

By Marianna Parraga

HOUSTON
Petroleumworld 09 01 2017

 

U.S. refiners down on 4.25 million barrels per day of capacity as Harvey continue pouring rain


Largest U.S. refiner shuts down as Harvey makes second landfall. Corpus Christi plants beginning to restart as storm moves on

By Barbara J Powell, Brian K Sullivan, and Dan Murtaugh

HOUSTON/BOSTON/SINGAPORE
Petroleumworld 08 31
2017

Fuel markets jump as Harvey's surge ripples beyond Gulf


An oil refinery is seen before the arrival of Hurricane Harvey on Aug. 25, 2017, in Corpus Christi, Texas.

By Erwin Seba and Devika Krishna Kumar

HOUSTON/NEW YORK
Petroleumworld 08 31
2017

Harvey paralyzes a fifth of U.S. fuel output

Carlos Barria/Reuters

President Donald Trump receiving a briefing on Tropical Storm Harvey relief efforts in Corpus Christi,Texas, on Tuesday.

By Erwin Seba

HOUSTON
Petroleumworld 08 30
2017

Harvey rages on and set for return hit, gasoline extends gains, oil slip


Biggest U.S. refinery is said to be shutting on severe floods. About 20 percent of refining capacity has halted operations

By Ben Sharples and Melissa Cheok

HONG KONG/SINGAPORE
Petroleumworld 08 30
2017

Hurricane Harvey brings death, destruction to Houston as flood waters rise

Adrees Latif/Reuters

Residents use boats to evacuate flood waters along Tidwell Road in east Houston, Texas. August 29, 2017 01:30am EDT

By Marianna Parraga and Ernest Scheyder

HOUSTON
Petroleumworld 08 29
2017

Gasoline up as Texas plants brace for second Harvey hit


Pipelines, terminal operations suspended because of U.S. storm. About 2.35 million barrels of capacity shut after flooding.

By Ben Sharples and Perry Williams

HONG KONG/SIDNEY
Petroleumworld 08 29
2017

Hurricane Harvey throws a wrench into U.S. energy engine


Oil companies evacuate workers as Tropical Storm Harvey hit Texas.

By Ernest Scheyder and Erwin Seba

HOUSTON
Petroleumworld 08 28
2017

Harvey misses Mexico but not its gasoline supply

F. Carter Smith/Bloomberg

Tanker trucks enter a refinery ahead of Hurricane Harvey in Texas City, on Aug. 25.

By Amy Stillman and Adam Williams

MEXICO CITY
Petroleumworld 08 28
2017


Harvey sends Harvey sends gasoline surging as Texas refineries shut down. Exxon, Anadarko, Shell among energy explorers cutting output. Would be first major hurricane to hit U.S. since Wilma.

By Brian K Sullivan and Mark Chediak

BOSTON/SAN FRANCISCO
Petroleumworld 08 25
2017

Venezuela swaps oil minister and PDVSA president

Reuters

Venezuela's new Head of PDVSA Nelson Martinez (L) and Oil Minister Eulogio del Pino (R).

By Brian Ellsworth

CARACAS
Petroleumworld 08 25
2017

 

Latam biggest power mongul Eletrobras heading to privatization


Brazil power wizard takes center stage in Eletrobras shock. Ferreira seen as ‘the market choice' to lead the utility giant. CEO engineered creation of biggest private industry player.

By Vanessa Dezem, Peter Millard, and Arie Shapira

RIO DE JANEIRO
Petroleumworld 08 24
2017

PDVSA's U.S. oil service contractors hit with just more promissory notes


Venezuela's IOUs pile up, keeping U.S. oil servicers in tow. With $19.8 billion due others, company payouts remain far off. Schlumberger, Halliburton gain from interest, regular payment.

By David Wethe

HOUSTON
Petroleumworld 08 24
2017

Chevron's Watson to step down

Andrew Harrer/Bloomberg

Michael Wirth seen as most likely successor to seven-year CEO. Chevron spokesman declines comment on leadership change

By Joe Carroll

CHICAGO
Petroleumworld 08 23
2017

Tropical Storm Harvey lingers and still could become a major tropical storm in the Gulf of Mexico


Harvey threatens gulf coast, sending gasoline higher

By Brian K Sullivan and Laura Blewitt

BOSTON/HOUSTON
Petroleumworld 08 23
2017

Petrobras suffers growing pains in Brazil's freed up fuel market

Dado Galdieri/Bloomberg

Company's share of diesel imports shrank to just 2.2 percent. Daily price adjustments designed to scare off new competitors

By Sabrina Valle

SAO PAULO
Petroleumworld 08 22
2017

South America struggles to keep up with Lithium demand

As established players expand, some newcomers seen struggling. New mine teething problems tightening credit for projects

By Laura Millan Lombrana and Jonathan Gilbert

SANTIAGO/BUENOS AIRES
Petroleumworld 08 22
2017

Total buy Maersk Oil & Gas for $4.95 billion in shares


Total will issue to A.P. Moller–Maersk 97.5 million shares, based on the average Total share price on the 20 business days prior to Aug. 21. That will represent 3.75 percent of the enlarged share capital of Total.

By Geraldine Amiel

PARIS
Petroleumworld 08 18
2017 .
the pace of deals in the energy sector is accelerating after a long downturn.

Dow Chemical weighs exiting shale-gas venture in Argentina, minister says

Juan Mabromata/AFP

YPF, Dow are trying to figure out value for El Orejano. Shale natural gas output subsidized through at least 2021

By Jonathan Gilbert and Alix Steel

PARIS
Petroleumworld 08 21
2017

 

LNG tankers lurking at sea looking for a better deal

Bloomberg

Less LNG evaporation means more flexibility to find best buyer. Gas market looking more like oil as ships become trading tools. By
Anna Shiryaevskaya

LONDON
Petroleumworld 08 18
2017

1 million barrels of Venezuelan heavy crude stranded off sea

Jonathan Bachman/Reuters

Bank jitters over Venezuela stall oil delivery to U.S. refiner. The Suezmax sized oil tanker Karvounis lies at anchor stranded off the coast of Louisiana for lack of a bank letter of credit to discharge its cargo of Venezuelan heavy crude, south of Port Fourchon, Louisiana, U.S. August 17, 2017. By
Marianna Parraga

MEXICO CITY
Petroleumworld 08 18
2017

 

Suisse bans trading of Venezuela and PDVSA bonds

Gianluca Colla/Bloomberg

Bank says it has ‘no appetite' to help fund Maduro government. Lender also halting business with Venezuelan counterparties

By Jan-Henrik Foerster and Katia Porzecanski

ZURICH/NEW YORK
Petroleumworld 08 11 2017

Oil refining US states senators push for not to sanction Venezuela's regime with oil shipments


Sanctions could also afect oil commerce of Venezuela's with Cuba, China and Russial.

By Timothy Gardner

WASHINGTON
Petroleumworld 08 11 2017

U.S. imposes financial sanctions on eight more Venezuela's regime officials


Venezuela Inches Closer to Dictatorship - Watch video

By Saleha Mohsin and Jose Enrique Arrioja

WASHINGTON/NEW YORK
Petroleumworld 08 10 2017

Nigeria traces $615 million graft money to ex-oil Minister

Diezani Alison-Madueke - F. Carter Smith/Bloomberg

Agency says more than a dozen estates traced to Alison-Madueke. Nigeria seeking court ruling for forfeiture of the assets

By Solape Renner and Dulue Mbachu

LONDON/ABUJA
Petroleumworld 08 10 2017

Latin American nations urge Venezuela to close Assembly, the country now a ‘dictatorship'

Mariana Bazzo/Reuters

Peru's Foreign Minister Ricardo Luna (C) along with foreign ministers and representatives from across the Americas, called Venezuela now a ‘dictatorship', Ministers criticize human rights violations and use of violence, in Lima, Peru, August 8, 2017.

By John Quigley

LIMA
Petroleumworld 08 09 2017

Top oil buyers go on light crude oil hunt to meet diesel demand

Heesu Lee/Bloomberg

Malibu, the Suezmax crude carrier, carries Kazakh crude oil. Asian diesel profits surge as demand booms in India, China. SK Innovation to take delivery of U.S. crude for first time

By Heesu Lee

SEOUL
Petroleumworld 08 09 2017

Chevron, Statoil, Total pull all expats staff in Venezuela

Carlos Becerra/Bloomberg

Political crisis fueling violence in nation reliant on crude. Repsol also says it's removed all remaining foreign staff

By Rodrigo Orihuela, Mikael Holter, and Lucia Kassai

MADRID/OSLO/HOUSTON
Petroleumworld 08 08 2017

YPF CEO sees turning point in Argentina oil, gas output

Alberto Raggio/Reuters

Gutierrez said weather issues will hurt YPF's 2017 output, forecast to contract by 3 percent. But he has "no doubt" of positive 2018 production for YPF.

By Caroline Stauffer and Juliana Castilla

BUENOS AIRES
Petroleumworld 08 08 2017

Rosneft lends $1.02 billion to Venezuela oil company PDVSA


Sources: Thomas W. O'Donnell: PDVSA,Gazprom, Global Business Consultans, Bloomberg

Russia's Rosneft standing by investment plans in Venezuela.

By Elena Mazneva and Stephen Bierman

MOSCOW
Petroleumworld 08 07 2017

U.S. refiners could get a margins squeeze with higher-priced oil crudes


In part, the companies are reacting to high costs and anticipating weaker supplies of Venezuelan crude coming to the United States.

By Erwin Seba

HOUSTON
Petroleumworld 08 07 2017

 

Oil at $50 the magic number for deep-sea drillers

 

PDVSA on Plan B should U.S. slap sanctions on Venezuela's oil

Bloomberg/Wil Riera

PDVSA, partners looking at alternatives for country's crude. New destinations may translate into lower prices for Venezuela
.

By Lucia Kassai and Fabiola Zerpa

HOUSTON/CARACAS
Petroleumworld 08 02 2017

Trump's administration sanctions Venezuela's Dictator Maduro


U.S. Tresury Secretary Steven Mnuchin calls Venezuela's President Maduro a Dictator. -Watch video.

By Jose Enrique Arrioja and Saleha Mohsin

NEW YORK/WASHINGTON
Petroleumworld 08 01 2017

Possibly U.S. oil sanctions could risk Venezuela's default


U.S. weighs oil action on Venezuela vote fallout. -Watch video.

By Lucia Kassai, Laura Blewitt, and Nathan Crooks

HOUSTON/CARACAS
Petroleumworld 08 01 2017

Canada's heavy oil plugs gap left by OPEC cuts, Latam

Jiri Rezac

Raw tar sands mining operations near Fort McMurray, Alberta, Canada.

By Nia Williams

CALGARY, Alberta
Petroleumworld 07 31 2017

Venezuela voters snub regimen's assembly, massive protests continue with violence

Reuters/Christian Veron

Riot police officers charge during one of the rallies. U.S. considering some sanctions on Venezuela oil sector -sources.

By Alexandra Ulmer and Anggy Polanco

CARACAS/SAN CRISTOBAL, Venezuela
Petroleumworld 07 31 2017

Venezuela heads for point of no return, U.S. orders diplomats' families to leave

NYT/Meredith Kohut

Signs of initial stirrings of an urban guerrilla movement. The U.S. has been urging Maduro to cancel the vote vote that would allow him to rewrite the constitution.

By Vivianne Rodrigues and Andrew J Barden

NEW YORK/WASHINGTON
Petroleumworld 07 28 2017

ExxonMobil new oil find in Guyana on Venezuela's disputed territorial waters


Venezuela potential area of contention Guyana. Venezuelan government has always claimed the land west of the Essequibo River and also the offshore areas with their area limits.

By Elio Ohep

CARACAS
Petroleumworld 07 28 2017

 

Russia's Rosneft, Venezuela's PDVSA discuss Citgo collateral deal to avoid U.S. sanctions

"This shows that Rosneft has no hangups about expanding its footprint in the world's largest oil patch, even with Maduro becoming an autocrat," said Raul Gallegos, an analyst with the consultancy Control Risks.

CARACAS/HOUSTON
Petroleumworld 07 21 2017

Venezuela Quick Take Q&A: Who'd lose most from U.S. ban on Venezuela crude?


"The move will likely cripple PDVSA-owned Citgo, which would be forced to buy higher-priced crude on the spot market for its refineries," McMonigle said in a note Tuesday. "But US refiners, who oppose the sanctions, would also be impacted as it would force Gulf refiners to find replacements for heavier grades of Venezuelan crude."-Platts / Watch video

NEW YORK
Petroleumworld 07 20 2017

Mexico let huge new find sink in and delays next oil auction

Talos Energy CEO on Mexico big oil discovery - Watch video

Mexico CNH says crude discovery sparked international interest. Country to announce fields for deep water auction "in days"

MEXICO CITY
Petroleumworld 07 20 2017

Ecuador increases oil output breaks OPEC quota

Agreed cuts to oil supply

Source: Bloomberg News, Bloomberg Intelligence
Nation must boost production to raise revenue, minister says. Ecuador accounts for just 1 percent of the Vienna Group's agreed output cuts

ECUADOR/LONDON
Petroleumworld 07 19 2017

Venezuela could face an oil imports ban from the U.S.

Bloomberg

Trump administration raises pressure on Caracas over plan to re-write constitution -Watch video

WASHINGTON/BOGOTA
Petroleumworld 07 19 2017

Is big oil's bet on gas wrong?


Energy giants plan shift from producing oil toward natural gas

LONDON
Petroleumworld.com 07 18 2017

Venezuela on Trump's warning, opposition calls for strike

“The United States will not stand by as Venezuela crumbles,” Trump said and warns of potential ‘swift economic actions'. Opposition calling for a 24-hour strike .

CARACAS
Petroleumworld.com 07 18 2017

More than seven mllions of venezuelans turn against Maduro in symbolic vote

Reuters

Left to right, Jose Virtuoso, rector of the Andres Bello Catholic University (UCAB), Raul Lopez Sayago, rector of the Pedagogical Experimental Libertador University (UPEL), Cecilia Garcia Arocha (C), rector of the Central University of Venezuela (UCV), Jessy Divo, rector of the University of Carabobo, Benjamin Scharifker, Rector of the Metropolitan University (UNIMET), "Commission of Guarantors" of the National Assembly consultation process address the media announcing the results on the plebiscite against Nicolas Maduro's regimen and his plan to rewrite the constitution, in Caracas, Venezuela July 16, 2017. The writing on the screen reads "7.186.170" votes against the regime.

CARACAS
Petroleumworld 07 17 2017

Pemex finalize $100 millions dolars Odebrecht refinery contract amid U.S. probe

Bloomberg/Yael Martinez

Construction on the Miguel Hidalgo Refinery in Tula, Hidalgo, Mexico, on April 18, 2017.

MEXICO CITY
Petroleumworld 07 17 2017

Getty Images

Sierra Oil & Gas among explorers in group that struck crude. Next auctions expected to involve deep-water and shale fields.


MEXICO CITY/NEW YORK
Petroleumworld 07 14 2017

Shale oil will be better serve with deeper OPEC cuts - Abdullah al-Attiyah

Bloomberg/Brittany Sowacke

There's a risk that OPEC loses market share, former oil minister of Qatar, al-Attiyah says. OPEC's compliance is ‘very good' even if not 100 percent

KUWAIT/LONDON
Petroleumworld 07 14 2017

Oil price recovery slips back to 2020 - WPC

Reuters

US Secretary of State Rex Tillerson makes a speech during the opening ceremony of the 22nd World Petroleum Congress-WPC in Istanbul, Turkey on 9 July, 2017. It could be at least 2020 before slump ends, Pouyanne says . ‘Lower for longer' is new normal: Baker Hughes CEO Simonelli

ISTANBUL
Petroleumworld 07 13 2017

Mexico onshore oil and gas auction Round 2.2 & 2.3 awarded nearly all the blocks


Jaguar Exploration and Production of Hydrocarbons rose as the winner of the 2.2 and 2.3 oil rounds. Of the 24 blocks offered the company was awarded 11, six in consortium and five individually.

MEXICO CITY
Petroleumworld 07 13 2017

 

Oil trading on the offshore mega store at sea

Bloomberg/Tim Rue

Ships floating off Singapore form distribution center for Asia. Oil from U.S. to Africa sold from vessels; grades also blended.

SINGAPORE
Petroleumworld 07 12 2017

Mexico's opens the natural gas capacity reservation system ENAGAS new market model


Mexico's natural gas market goes foward in evolutionary step

MEXICO CITY
Petroleumworld 07 12 2017

Big oil expect oil demand to shrink faster than anticipated

NYT/William Widmer

Remember peak oil? demand may top out before supply does

LONDON
Petroleumworld 07 11 2017

Pemex hires Hogan Lovells Law Firm to audit Odebrecht' s contracts

Bloomberg/Susana Gonzalez

Pemex yet to be identified as company in DOJ investigation

MEXICO CITY
Petroleumworld 07 11 2017

Bloomberg/Akos Stiller

Issam Almarzooq , Kuwait oil minister. Output in both countries rose amid exemption from global cuts. OPEC, allies due to meet July 24 in Russia to discuss matter.

KUWAIT/LONDON
Petroleumworld 07 10 2017

U.S. unlikely to sanction venezuelan crude


Trump administration is weighing sanctions against Venezuela. Refiners say banning oil imports would hurt U.S. economy

WASHINGTON
Petroleumworld 07 10 2017

 

U.S. unlikely to sanction venezuelan crude


Trump administration is weighing sanctions against Venezuela. Refiners say banning oil imports would hurt U.S. economy

WASHINGTON
Petroleumworld 07 10 2017

Getty/ Sean Gallup

Donald Trump arrives at Hamburg Airport on July 6, 2017. Warsaw speech focuses on religion, family ahead of rule of law. That may go down well in Poland; elsewhere in EU, not so much.

NEW YORK
Petroleumworld 07 07 2017

Pemex hires independent legal firm to audit Odebrecht deals amid US DOJ Braskem case


Company says no confirmation that U.S. case ivolves Pemex. Move designed to ‘clear up the facts,' legal director says.

MEXICO CITY
Petroleumworld 07 07 2017

 

U.S. SPR reserves shrink as shale oil offers supply buffer

Bloomberg/Daniel Acker

Drawdowns continues as White House pledges to sell more. Rising domestic output to offset need for a flush SPR.

NEW YORK
Petroleumworld 07 06 2017

Mexico's regulator CNH names bidders on oil and gas Round 2 onshore auctions for July 12


Four companies and five consortiums have qualified to bid in the first of the two auctions, Round 2.2 and For the third auction, Round 2.3, 11 individual companies have qualified and Eight consortiums.

MEXICO CITY
Petroleumworld 07 06 2017

Brent oil holds below $50 as Russia oppose deeper OPEC cuts


Russia to oppose any proposal to cut output further: officials. U.S. crude stockpiles forecast to resume declines: survey

HONG KONG
Petroleumworld 07 05 2017

Venezuela's poor rebel against the regime, roiling Maduro's bolivarian strongholds

AFP

Riot police clash with residents of La Vega neighborhood in Caracas. In western Caracas, fury erupts when food program falters. ‘People protest when there are no other options. It's madness'

CARACAS
Petroleumworld 07 05 2017

OPEC's oil output at the highest this year

Global oil supply rose by 585 kb/d in May to 96.69 mb/d after both OPEC and non-OPEC produced more-IEA. Crude production rises for second straight month, survey finds. Libya and Nigeria added 130,000 barrels a day last month.

LONDON
Petroleumworld 07 04 2017

Brazil's ethanol and biodiesel from Argentina delay EPA's Quotas

Bloomberg/Dado Galdieri

EPA's Scott Pruitt said to order reconsideration of biofuel mandate. Imported supplies help refiners satisfy annual biofuel quotas

WASHINGTON/CHICAGO
Petroleumworld 07 04 2017

Mexico speeding up seven pipes projects to import more U.S. gas

MEXICO CITY/HOUSTON
Petroleumworld 07 03 2017

Trump's 'vast energy wealth' of the U.S. start by moving gas in Nustar's Texas to Mexico pipeline

Bloomberg/ Daniel Acker

The 46-mile pipeline to cross Texas-Mexico border, under wall. Presidential permits issued for three NuStar pipelines: State

HOUSTON/WASHINGTON
Petroleumworld 07 03 2017

 

 

 

 


 

 

 

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