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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 June/December

 

Top Headlines 2018 Jan- April

 

Oil heads up on Iran and as OPEC fade out glut

James Durbin/Reporter-Telegram

M
ay 12 awaited to see if U.S. withdraws from Iran nuclear deal. WTI is up 4.6% in April, poised for a second monthly advance

By Heesu Lee

SEOUL
Petroleumworld 04 30
2018

Chevron beats estimates, Exxon fall short in first quarter

Bloomberg

Chevron result took full advantage of crude's price rally. Exxon, in rebuilding mode, misses estimates on production - Bloomberg's Tina Davis reports on Chevron and Exxon Mobil first-quarter earnings.-Video

By Kevin Crowley

HOUSTON
Petroleumworld 04 30
2018

 

Trump's threat to Iran is scaring off oil traders


Uncertainty about Trump sanctions decision damps deal-making. Some buyers see shunning Iran oil to avoid U.S. legal action - Video -Trump says Iran will pay a price if U.S. is threatened.

By Anthony Dipaola

DUBAI
Petroleumworld 04 27
2018

U.S. could become world's top oil exporter next year - CITI

Nile TV

U.S. crude, product exports rise to record 8.3m b/d last week. Higher prices encourage the nation to pump more: Citigroup

By Sharon Cho

SINGAPORE
Petroleumworld 04 27
2018

 

 

Oil industry getting hit by electric buses

Bloomberg video

About 279,000 barrels a day of fuel won't be needed this year. China adds a London-sized electric bus fleet every five weeks -Video - Electric Buses Are Hurting the Oil Industry

By Jeremy Hodges

NEW YORK
Petroleumworld 04 26
2018

U.S. inland grades fall while international benchmark firms, Skinny and sweet: U.S. refiner earnings depend on the oil diet

Shannon Stapleton/Reuters

James Prokupek (L), an engineering department process design manager for the Valero St. Charles Oil Refiner, is seen in silhouette during a tour of the refinery in Norco, Louisiana, in thi August 15, 2008

By Devika Krishna Kumar

NEW YORK
Petroleumworld 04 26
2018

Permian basin becoming the largest oil patch in the world

Bloomberg

Shale play in Texas, New Mexico to hit record output in May. Oil patch seen overtaking Iran by the end of the year - XTO Energy President on Unlocking Permian Basin's Potential -Video

By Jessica Summers and Sheela Tobben

NEW YORK
Petroleumworld 04 25 2018

PDVSA bond holders get organize ahead of $107 million payment due Friday

The Wall Street Journal / Source: Morgay Stanley/Bloomberg

Holders of oil company's bonds due in 2020 forming a group. Notes are at 86 cents on the dollar, well above other debt

By Katia Porzecanski and Luca Casiraghi

NEW YORK/LONDON
Petroleumworld 04 25 2018

Mexico's foreign investors ignore populist's rise

Bloomberg

Nafta optimism overshadows potential risk from Lopez Obrador. Leftist presidential candidate maintains lead in polls. Trio of Ministers leading nafta talks meet Thursday - Video

By Michelle Davis and Liz McCormick

MEXICO CITY/NEW YORK
Petroleumworld 04 24 2018

Chevron's Venezuela arrested workers could face treason charge

Los Angeles Time

Chevron employees, Carlos Luis Algarra, refining expert and René Vásquez, procurement advisor were detained in Venezuela last week when they refused to sign a supply contract written by PDVSA executives under an emergency decree - which skips the competitive bidding process, according to a half dozen sources close to the case.

By Marianna Parraga and Alexandra Ulmer

HOUSTON/CARACAS
Petroleumworld 04 24 2018

 

Trump tweet slams on OPEC as it pushes for high oil prices


Crude erases gains as Trump accuses group of inflating prices. OPEC, Russia show willingness to keep tightening market. - $70 Per Barrel Target 'More Realistic' for Oil Price, Says Schork -Video

By Angelina Rascouet, Wael Mahdi, Elena Mazneva, and Grant Smith

LONDON
Petroleumworld 04 23 2018

Mexico's high gasoline prices don't make sense, will Mexico's new president have an answer?

Brett Gundlock/Bloomberg

Unhappy voters. Gas taxes are far higher than in the U.S., while consumption has begun to rise against decreasing production. Will Mexico's new president have an answer?

By Justin Fox

NEW YORK
Petroleumworld 04 23 2018

Oil rally on hold as OPEC nearly accomplished goal


U.S. petroleum inventories drop below their five-year average. WTI pushes close to $70 threshold before giving back gains


By Robert Tuttle

CALGARY
Petroleumworld 04 20 2018

U.S. Treasury Secretary says Europe to share more data on Venezuela corruption

Transparency.org


Says Japan, Latin American nations also will participate.Directed at tightening economic pressure on Maduro regime


By Saleha Mohsin and Andres R Martinez

WASHINGTON/BUENOS AIRES
Petroleumworld 04 20 2018

 

 

Oil highest since 2014, U.S. stocks shrinking and OPEC cuts compliance strong


Withdrawal from biggest U.S. hub was first in six weeks: EIA. Joint ministerial monitoring committee meeting set for Friday

By Jessica Summers

NEW YORK
Petroleumworld 04 19 2018

Petrobras working on a deal with CNPC to swap refinery investment for oil

Bruno Domingos/Reuters

The deal highlight rising Chinese interest in the Brazilian oil sector



By Rodrigo Viga Gaier

RIO DE JANEIRO
Petroleumworld 04 19 2018

OPEC-Russia might agreed to extend oil cuts even as stock surplus vanishes


Producer group meets in Jeddah to discuss further cooperation. Crude price gains bring windfall revenues for oil exporters

By Grant Smith

LONDON
Petroleumworld 04 18 2018

Venezuela arrested Chevron employees in corruption crackdown

David Paul Morris/Bloomberg

Two workers were detained by local authorities on Monday. U.S. major is part of joint venture with state oil company

By Kevin Crowley and Lucia Kassai

HOUSTON
Petroleumworld 04 18 2018

World's most indebted oil giant faces $84.5 billion threat in mexican presidential race

Internet/sdpnoticias

Spread over Treasuries clims as candidate gains in polls. Oil giant says new technologies, private spending needed.

By Justin Villamil

MEXICO CITY
Petroleumworld 04 17 2018

Syria push U.S. and Russia into major relations crisis

Bloomberg

‘What kind of cooperation can there be?' Russian analyst asks. White House says relations can improve if Russia take steps. - US led strikes against Syria send message to Russia - Play Video

By Nick Wadhams, Ilya Arkhipov, and Margaret Talev

WASHINGTON/MOSCOW
Petroleumworld 04 17 2018

OPEC output dropping near 3-year low on Venezuela woes - IEA

Output cuts by OPEC and Russia are clearing the glut

  • Stockpile surplus


Source: IEA

Venezuela's unintended cuts almost match Saudi Arabia's: IEA. IEA sees Venezuela's capacity falling to lowest since 1940s.

By Angelina Rascouet

LONDON
Petroleumworld 04 16 2018

Brazil's presidential candidates Bolsonaro, Marina Silva tied amid racism charges - first poll

Facebook/Jair Bolsonaro

Jair Bolsonaro is tied with Marina Silva in the race for 2018. Accusations against Bolsonaro based in part on 2017 speech. Datafolha poll shows lawmaker with 17% of vote intentions


By Aline Oyamada

SAO PAULO
Petroleumworld 04 16 2018

 

OPEC output lowest in a year, tighter market ahead


Declines in Venezuela, Saudi Arabia, Libya curb group's output . Global oil stockpiles set to shrink more than 1m barrels a day

By Grant Smith

LONDON
Petroleumworld 04 13 2018

Mexico market risk is from Lopez Obrador's Morena party, not him - USB

Bloomberg

Bank says brace for gains in Congress by leftist Morena party. Best strategy will be to buy the dip after July election. - Video

By Luis Villasmil

MEXICO CITY
Petroleumworld 04 13 2018

OPEC at risk: Political crises threaten to double its million-barrel cut



Trump seen likely to re-impose sanction on Iranian oil exports. Venezuelan output is the lowest in decades and still falling. Ed Morse Says There Is a 'Little Bit of Froth' in Oil Prices - Video

By Grant Smith

LONDON
Petroleumworld 04 12 2018

Finance minister signals Canada open to buying Trans Mountain Pipeline stake

Jessica Brisson/ Edmonton Journal

The line would open up 590,000 barrels a day of new capacity to the Pacific Ocean.

By Allison McNeely and Kevin Orland

TORONTO/CALGARY
Petroleumworld 04 12 2018

 

Saudi Arabia goes for a $80 oil price

Bloomberg

Officials have met other OPEC nations and market participants. Kingdom aiming to boost oil prices to support 2019 Aramco IPO. What are the implications of Saudi Arabia's increasingly hawkish rhetoric? Bloomberg's Javier Blas discusses. -Video

By Javier Blas

LONDON
Petroleumworld 04 11 2018

Brazil's Workers Party closed ranks behind Lula candidacy

Reuters

Despite having been jailed, Luiz Inácio Lula da Silva remains the Workers' Party's candidate of choice for Brazil's upcoming presidential elections.

By Anthony Boadle

BRASILIA
Petroleumworld 04 11 2018

IMF concern with Guyana oil deal ‘favorable' to Exxon


Future oil deals ones need improving: IMF. Country is home to biggest new deepwater oil play in a decade.

By Kevin Crowley

HOUSTON
Petroleumworld 04 10 2018

Pipeline industry in ‘Wake-Up Call' on Cyberattack to U.S. electronic communications systems

Scada

Companies weren't required to report attack to regulator TSA. Congressman Latta sees ‘bad actors' looking to weaken U.S.

By Naureen S Malik

NEW YORK
Petroleumworld 04 10 2018

S. Arabia see chemical, oil-refining bonanza along U.S. Gulf Coast

Luke Sharrett/Bloomberg

World's biggest crude exporter studying new U.S. facilities. North America's largest refinery could double in capacity.

By Lucia Kassai and Jack Kaskey

HOUSTON
Petroleumworld 04 09 2018

Brazil's ex president Lula da Silva begin 12 year prison sentence for corrupcion

Ricardo Moraes/Reuters

Luiz Inacio Lula da Silva arrives at the the Federal Police headquarters on Saturday, April 7. Former Brazil president vows to ‘face them,' prove innocence. Arrest makes presidential election still more unpredictable.

By Felipe Marques and Vinicius Andrade

SAO PAULO
Petroleumworld 04 09 2018

 

ENI eye dual operations mode with Qatar in Mexico's Amoca field in Campeche bay

ENI

Qatar may get 35 percent stake in two-billion-barrel discovery. Eni has sought to sell interests in prospects to raise funds.

By Amy Stillman and Chiara Albanese

MEXICO CITY/ROME
Petroleumworld 04 06 2018

Colombia's Sinu-San Jacinto onshore oil & gas auction postpone until May 3 -ANH


The change was announced by the National Hydrocarbons Agency (ANH) late on Wednesday, marks the fifth time the auction for the 15 crude and gas areas in the country's northwest has been rescheduled.

By Julia Symmes Cobb and Marianna Parraga

BOGOTA/HOUSTON
Petroleumworld 04 06 2018

 

PDVSA - Helsinge affair: How the ‘Nerd' helped rig oil auctions for years

MyLoupe/UIG

How a small trading house won multi-million deals in Venezuela. Case pitches PDVSA trust against Glencore, Vitol, Trafigura

By Lucia Kassai

HOUSTON
Petroleumworld 04 05 2018

Latin America wind power, cheaper than ever in Brazil, almost as low as Mexico

Adriano Machado/Bloomberg

EDF had winning wind-power bid for $20.23 a megawatt-hour. Auction expected to spur 5.3 billion reais of investment.

By Vanessa Dezem

SAO PAULO
Petroleumworld 04 05 2018

OPEC output lowest in a year amid Venezuela woes


Group production fell to 32.04 million barrels a day in March. Oil fields in Algeria are said to have gone into maintenance. OPEC president says russia has been 'great partner' on cuts - Video

By Angelina Rascouet

LONDON
Petroleumworld 04 04 2018

Latin America turns to clean energy, utilities ditch dirty Coal

Luke Sharrett/Bloomberg

Utility closes coal-fired plants to shift to renewable power. Region's clean-energy investment growth dwarfs the world rate.


By Vanessa Dezem

SAO PAULO
Petroleumworld 04 04 2018

Latin America not longer shunning investment from oil & gas foreign firms

Jaime Saldarriaga/Reuters

View of the oil refinery Ecopetrol in Barrancabermeja, Colombia, March 1, 2017. Picture Taken March 1, 2017.

By Marianna Parraga

HOUSTON
Petroleumworld 04 03 2018

'Cyber Attack' on Energy Transfer pipeline data network shut system

Balint Porneczi/Bloomberg

Billionaire Kelcy Warren's company runs key oil, gas pipelines. Third-party electronic data interchange knocked out of action

By Meenal Vamburkar, Naureen S Malik , and Ryan Collins

NEW YORK/HOUSTON
Petroleumworld 04 03 2018

Shanghai's crude oil futures contract should confound the sceptics: Kemp

China Xinhua News

Shanghai crude future meeting a hedging need and atracting speculators

By John Kemp

LONDON
Petroleumworld 04 02 2018

China's new crude oil futures contract, which began trading this week, has a good chance of confounding the doubters and becoming a regional benchmark where other contracts have failed.

Argentina is not quite yet ready for delivering returns on investments, says Energy Minister

Diego Giudice/Bloomberg

Minister Aranguren tells radio station he's keeping own money abroad. Nation is wooing major energy companies to invest in shale.

By Andres R Martinez

BUENOS AIRES
Petroleumworld 04 02 2018

 

 

Exxon big winner in Brazil's latest oil & gas licensing round

Jornal do Brazil

Brazil's 15th oil & gas licensing round was consider very succesfull by the Brazilian government, oil company executives and experts who attended the event March 29.

By Marta Nogueira, Alexandra Alper

RIO DE JANEIRO
Petroleumworld 03 30 2018

Oil going up in 2018 as OPEC wages tug-of-war with U.S. shale producers - Survey

CNN

Prices rise 5.4 percent in March, erasing February loss.

By Apeksha Nair

BENGALURU, India
Petroleumworld 03 30 2018

 

 

Brazil 15th pre-salt oil bidding round, big expectations with a late minute shadow over

ANP

The ANP to hold Thursday, march 29, 2018, the 15th Round of Bids for the Exploration and Production of Oil and Natural Gas, under the concession regime.

By Petroleumworld

CARACAS
Petroleumworld 03 29 2018

Oil companies raise issue with contaminated crude from U.S. SPR reserve

Reuters/Richard Carson

A sign listing contents of an oil storage tank seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016.

By Catherine Ngai

NEW YORK
Petroleumworld 03 29 2018

European big oil winners in mexican oil auction ahead of election

CNH

Shell, BP, Total, Repsol, Eni, Lukoil among auction winners. Mexico awards development licenses for 16 shallow-water blocks.

By Amy Stillman and Adam Williams

MEXICO CITY
Petroleumworld 03 28 2018

Petrobras to participate selectively on Thursday onshore and offshore auction round in Brazil -CEO

epmag

Twenty-one companies including Chevron, BP, Exxon, Royal Dutch Shell, Statoil, and Total have registered to bid in a round where 70 blocks are being offered.

By Marta Nogueira and Rodrigo Viga Gaier

RIO DE JANEIRO
Petroleumworld 03 28 2018

 

Shanghai's INE crude oil future set to shake up oil markets

Bloomberg

China's Shanghai International Energy Exchange is launching its own crude oil future contract. Yuan-denominated contract begins trading in Shanghai Monday. Domestic futures start 25 years after idea was first mooted. - Video

By Grant Clark and Sungwoo Park

LONDON/LOS ANGELES
Petroleumworld 03 27 2018

Brazil's giant's hunger for foreign gas ebbs amid oil boom

Eddie Seal/Bloomberg

Brazil's LNG imports sank 75 percent as production jumped. Only 3 percent of U.S. LNG exports have reached Brazil

By Sabrina Valle

RIO DE JANEIRO
Petroleumworld 03 27 2018

'Bolton Trade' the rally factor in defense and energy shares


Bolton in White House Gives New Take on Foreign Policy - video

By Andrew Dunn and Sarah Ponczek

NEW YORK
Petroleumworld 03 26 2018

Argentina eyes $500 million train line to boost Vaca Muerta shale output


Juan Mabromata/AFP

Public-private partnership seen improving Vaca Muerta access. Trains to cut fracking costs in country's answer to Permian.

By Andres R Martinez , Jonathan Gilbert , and Jorgelina Do Rosario

BUENOS AIRES
Petroleumworld 03 26 2018

China should import more U.S. Gas to cut trade gap - Wilbur Ross

Bloomberg

China is already the third-biggest importer of U.S. LNG. State-owned CNPC inked the first long-term deal with Cheniere -Video

By Ryan Collins, Scarlet Fu, and Julia Chatterley

HOUSTON/NEW YORK
Petroleumworld 03 23 2018

Deal to build civilian reactors in S. Arabia a plus for U.S. companies. Pass, benefits China, Russia - Perry

Andrew Harrer/Bloomberg

Energy Secretary Rick Perry says
U.S.'s pass on saudi reactors benefits China, Russia. Perry asked by Senate panel about Saudi enrichment.

By Ari Natter

WASHINGTON
Petroleumworld 03 23 2018

 

 

OPEC may change count success for oil cuts


Vienna meeting looked at potential change to inventory target. Proposal could affect how quickly deal achieves its goals

By Angelina Rascouet, Javier Blas, and Grant Smith

LONDON
Petroleumworld 03 22 2018

Peru's President Pedro Pablo Kuczynski resigns ahead of 2nd impeachment vote

Luka Gonzales/AFP

Pedro Pablo Kuczynski, former Wall Street veteran brought down by corruption probes. First Vice President Martin Vizcarra to be sworn in on Friday

By John Quigley

LIMA
Petroleumworld 03 22 2018

Mexico's Presidential race is tightening - Poll

Animal Político

López Obrador (l) Ricardo Anaya (c) and José Antonio Meade (r)

GEA-ISA survey has Lopez Obrador at 37%, Anaya 32%, Meade 28%

By Nacha Cattan

MEXICO CITY
Petroleumworld 03 22 2018

 

Why Saudi Arabia wants to turn to nuclear power ?

Martin Divisek/Bloomberg

Saudi Arabia plan for the future, called Vision 203, is based on diversifying the Saudi economy to prepare for the day when oil and natural gas wells run dry.

By Mahmoud Habboush and Bruce Stanley

ABU DHABI
Petroleumworld 03 21 2018

With the world's second-biggest proven reserves of oil, Saudi Arabia seems an unlikely aspirant to the nuclear-energy club. Yet the largest oil exporter plans to build at least 16 nuclear reactors over the next 25 years at a cost of more than $80 billion.

BP to drill Mexican deepwater oil block in 2020, appointed first ever woman to lead BP Americas

lloydslist

Susan Dio will replace John Minge as chairman of BP Americas. BP is expected to invests $199.5 million in Mexican deepwater well and add up to 75 million barrels of oil equivalent in reserves.

By PW MEXICO

MEXICO CITY
Petroleumworld 03 21 2018

As Saudi Arabian prince visits U.S., shale transforms oil relationship

Simon Dawson/Bloomberg

Mohammed bin Salman

By Javier Blas

LONDON
Petroleumworld 03 20 2018

Nordex and others european wind-turbine manufacturers flock to booming Argentina

Eddie Seal/Bloomberg

Nordex working with local partner for first assembly plant. Argentina wind market booming but European sales are weak.

By Vanessa Dezem

SAO PAULO
Petroleumworld 03 20 2018

Mexico's Lopez Obrador says he would ask Pena Nieto to halt new oil rounds contracts

istock

Reiterates promise to review older private oil contracts. Would also halt the privatization of the electricity sector

By Justin Villamil

MEXICO CITY
Petroleumworld 03 19
2018

Trump disagrees with oil & gas executives on Nafta arbitration language

Mandel Ngan/AFP

Oil and gas leaders warn Trump he risks harming their industry. ndustry leaders say it provides an essential safety net.

By Jennifer A Dlouhy

WASHINGTON
Petroleumworld 03 19
2018

Statoil changes name to Equinor as it goes green

Statoil

Move follows increase in investments in renewable energy. Rebranding costs said to be as much as 250 million kroner. Video -Thank you, Statoil! It's been a pleasure.

By Joachim Dagenborg, Nerijus Adomaitis

OSLO
Petroleumworld 03 16
2018

Mexican presidential candidates' advisers face off on oil, corruption and new airport

Brett Gundlock/Bloomberg

Gerardo Esquivel, left, speaks as Luis Madrazo, center, and Salomon Chertorivsk, look on during the Bloomberg FX18 Summit in Mexico City, on March 14.
Meade's adviser says AMLO's contract review sows uncertainty. Anaya adviser attacks ruling party's record on corruption

By Nacha Cattan

MEXICO CITY
Petroleumworld 03 16
2018

 

 

OPEC predicts shale growth outpacing its own oil supply

Bloomberg

Group raises non-OPEC supply growth by 260,000 barrels a day. OPEC's forecasts are catching up with those by the IEA - Video: OPEC has had limited succes increasing prices, says Daman's Al Rantisi.

By Grant Smith

LONDON
Petroleumworld 03 15
2018

Latin America's clean energy market for big boys only

Stephane De Sakutin/AFP -A solar power plant in Atacama desert, Chile on Jan. 22, 2017.

No more room for the little guys. International energy companies drive down power prices.
‘It has been very hard to compete with the larger companies'

By Vanessa Dezem and Mark Chediak

SAO PAULO/SAN FRANCISCO
Petroleumworld 03 15
2018

 

What Rex Tillerson exit really means for oil

Drew Angerer

A harder line on Iran may help Saudi Arabia for now, but rising nationalism threatens long-term demand.

By Liam Denning

NEW YORK
Petroleumworld 03 14
2018

Natural Gas prices need to be oil-linked - Gas exporters

Haidar Mohammed Ali/AFP

Industry to invest $8 trillion by 2040 to meet demand: GECF. There's no current or future glut in LNG, new GECF head says

By Mohammed Sergie

NEW YORK
Petroleumworld 03 14
2018

Alirio Parra: a true OPEC icon, dies aged 90

OPEC

Iin 2017, OPEC honoured HE Dr. Alirio Parra (seond r), with a lifetime achievement award for his distinguished career and life achievements. He was the last surviving witness of the Baghdad declaration that birthed OPEC.”

By Petroleumworld

CARACAS
Petroleumworld 03 09 2018

 

 

Mexico runner-up candidate Ricardo Anaya pledges no mercy as election campaign heats Up

Twitter/Ricardo Anaya

Presidential candidate vows to pursue Pena Nieto if he wins. Contrast with leftist frontrunner Amlo, who talks forgiveness.

By Nacha Cattan

SINGAPORE
Petroleumworld 03 13 2018

Oil majors' interest in Argentina offshore oil auctions tests free-market reforms

Reuters/Marcos Brindicci

Argentina's President Mauricio Macri waves as he arrives for the opening session of the 136th legislative term at the Congress in Buenos Aires, Argentina, March 1, 2018.

By Luc Cohen

BUENOS AIRES
Petroleumworld 03 13 2018

 

 



PW DAILY BRIEF: March 5-10

Todd Peterson –Day 5: Day 5: Last day; Angora-New technology, EVs, carbon capture, LNG

Todd PetersonDay 4: Power talk: utilities, grids

Todd PetersonDay 3: Natural gas day, Secretaries of Energy: Canada, Mexico and the USA

Todd Peterson-Day 2: Saudi Aramco, US Sec. of the Interior, Pemex, BP and Google Cloud

Todd Peterson-Day 1: Tipping Point: Strategies for a new energy future

Todd Peterson -CERAWeek: Registration day

 

U.S. oil exports undermine OPEC's strategy , output cuts may fall apart

Nile TV

ING sees U.S. eating into producer group's Asian market share . Dutch bank forecasts Brent oil at $57/bbl in second half 2018

By Pratish Narayana

SINGAPORE
Petroleumworld 03 12 2018

Big oil traders Glencore, Vitol, name defendants in PDVSA lawsuit on a trading bribe scheme

Energy World

Venezuelan oil company cheated out of $5.2 billion: Boies. Long conspiracy by ‘Helsinge Enterprise' traced in complaint

By Ben Bartenstein and Robert Burnson

NEW YORK/SAN FRANCISCO
Petroleumworld 03 12 2018

CERAWeek: Technology is the hot new thing in oil, which should make OPEC countries nervous.

Aaron M. Sprecher

Pedro Joaquin Coldwell, Mexico's energy secretary, second left, speaks as Carlos Pascual, senior vice president of IHS Inc., left, Jim Carr, Canada's minister of natural resources, second right, and Rick Perry, U.S. secretary of energy, listen during the 2018 CERAWeek by IHS Markit conference in Houston, Texas, on Wednesday, March 7, 2018.

By Liam Denning

HOUSTON
Petroleumworld 03 09 2018

CERAWeek: Royal Dutch Shell's U.S. shale output plans prioritize oil over natgas

Bartolomej Tomic

Shell to invest up to $1B in new energies, but energy transition won't happen overnight | Offshore Energy Today

By Ron Bousso and Ernest Scheyder

HOUSTON
Petroleumworld 03 09 2018

CERAWeek: Mexico's energy reform is hard to reverse - Pemex CEO

Bloomberg

Pemex will bid in shallow water oil auction this month. Video: Pemex CEO Carlos Trevino says the company is trying to become "more flexible."

By Adam Williams and Lucia Kassai

HOUSTON
Petroleumworld 03 08 2018

CERAWeek: U.S. Energy Secretary blasted the 2015 agreement to limit global warming

CERAWeek by IHS Markint

U.S. energy Secretary Rick Perry opens up about the energy climate.

By Ron Bousso

HOUSTON
Petroleumworld 03 08 2018

CERAWeek: Mexico's energy reform is hard to reverse - Pemex CEO

Bloomberg

Pemex will bid in shallow water oil auction this month. Video: Pemex CEO Carlos Trevino says the company is trying to become "more flexible."

By Adam Williams and Lucia Kassai

HOUSTON
Petroleumworld 03 08 2018

CERAWeek: U.S. Energy Secretary blasted the 2015 agreement to limit global warming

CERAWeek by IHS Markint

U.S. energy Secretary Rick Perry opens up about the energy climate.

By Ron Bousso

HOUSTON
Petroleumworld 03 08 2018

CERAWeek: Big oil and electric cars, what about?

Jason Alden/Bloomberg

CEOs of oil giants BP, Aramco say EVs are not the end of oil. Meanwhile, Total CEO is already driving around an electric car.

By Tina Davies and Javier Blas

HOUSTON
Petroleumworld 03 07 2018

CERAWeek: Chile's Geopark, Rusia's Rosneft, Chinese CCDC and Hilong group interested in Ecuador's oil auction

Reuters/Daniel Tapia

The Andean country is in a race with Latin American neighbors Argentina, Mexico, Brazil and Uruguay to attract foreign capital to their energy sectors, but the scale of Ecuador's projects is smaller.

By Marianna Parraga

HOUSTON
Petroleumworld 03 07 2018

 

U.S. to dominate oil market for years - IEA

Bloomberg

IEA sees American energy dominance squeezing OPEC into 2020s. U.S. producers will ‘put their stamp' on market for five years. OPEC will see little increase in demand for its crude to 2021- Video - Bloomberg's Javier Blas and Julian Lee discuss an IEA report on global oil output.

By Grant Smith

LONDON
Petroleumworld 03 06 2018

CERAWeek:Total doesn't need Permian Basin shale to thrive - CEO


Total CEO, during a conference in CERAWeek by IHS Markind in Houston, Monday. Lack of shale in portfolio no handicap to making profits. Pouyanne focusing on deep seas, LNG, traditional oil regions. -Video - Total Doesn't Need Shale to Thrive, CEO Pouyanne Says

By Tina Davis

HOUSTON
Petroleumworld 03 06 2018

How Shell hid a Whale before placing Mexican gulf oil bet

Shell

Shell's deepwater Whale well strikes big pay in the Gulf of Mexico

By Ron Bousso and Marianna Parraga

LONDON/HOUSTON
Petroleumworld 03 05 2018

As CERAWeek starts, here's what we're listening for

CERAWeek

CEOs, ministers gather in Houston for energy industry event. The OPEC rivalry with shale producers will be a hot topic.

By Carlos Caminada and Joe Carroll

HOUSTON
Petroleumworld 03 05 2018

 

OPEC oil output down to 10-month low

Dreamstime

Crude output falls to 32.28 million barrels a day: survey. United Arab Emirates have Das Blend fields under maintenance

By Angelina Rascouet and Wael Mahdi

LONDON
Petroleumworld 03 02 2018

Climate change fallout no quick threat to oil, gas - Chevron

Cooper Neill/Bloomberg

Report addresses risks from sustainable development scenarios. Among last oil majors to release report on potential effects

By Kevin Crowley

HOUSTON
Petroleumworld 03 02 2018

 

ExxonMobil pushes Guyana oil production to 500,000 bpd with new discovery

Hess

Pacora-1 well encounters approximately 65 feet of high-quality, oil-bearing sandstone. High quality resources to be integrated into giant Payara field development. Further drilling on the Stabroek Block planned in 2018.

By Petroleumworld

CARACAS
Petroleumworld 03 01 2018

ExxonMobil Corporation have announced the seventh oil discovery offshore Guyana, following drilling at the Pacora-1 exploration well.

U.S. Interior royalties advisory panel pushes for lower offshore oil rates

Eddie Seal/Bloomberg

Committee says lower rates would make U.S. more competitive. Panel urges pared environmental review, faster Arctic drilling

By Jennifer A Dlouhy

WASHINGTON
Petroleumworld 03 01 2018

Oil executives urged the Trump administration to slash the rates their companies pay to harvest natural gas and crude from beneath U.S. waters. 

Mexican front runner's candidate's plan to build refineries raises eyebrows

Bloomberg/Susana Gonzalez

New refinery estimated to cost $6 billion to $10 billion. About 75 percent of Mexico's gasoline in January was imported

By Amy Stillman

MEXICO CITY
Petroleumworld 02 28 2018

U.S. could impose Venezuela oil embargo before April vote

Bloomberg

Restrictions would target energy sector to pressure Maduro. Tillerson is still studying possible fallout from sanctions

By Nicholas Wadhams

WASHINGTON
Petroleumworld 02 28 2018

U.S. embargo on Venezuela's key oil material could choke PDVSA production



Naphtha demand seen surging if PDVSA upgraders start failing. Costs may rise as the nation will have to buy at higher prices

By Lucia Kassai and Milana Vinn

HOUSTON/NEW YORK
Petroleumworld 02 27 2018

Giant VLCC oil tankers from the U.S. to cut time, money and traders

Bloomberg

LOOP deepwater port to simplify export logistics: Braemar ACM. Medium-sour crude exports in focus with time and cost savings

By Serene Chong

SINGAPORE
Petroleumworld 02 27 2018

Saudi Arabia oil minister hopes OPEC, allies can ease output curbs in 2019

Reuters/Adnan Abidi

Saudi Arabia's Energy Minister Khalid al-Falih (C) talks to the media as he leaves after a meeting in New Delhi, India, February 23, 2018.
Falih said OPEC was determined to translate the success of the deal to curb supply into a permanent framework with other major producers.

By Nidhi Verma and Sudarshan Varadhan NEW DELHI
Petroleumworld 02 26 2018

Big oil moving from paper to blockchain in tracking tanker sales

Bloomberg/Asim Hafeez

Revamping $2.7 billion of trades supplying half of world crude. Online ledger may mean cutting hundreds of backoffice workers

By Milana Vinn and Laura Blewitt

NEW YORK/HOUSTON
Petroleumworld 02 26 2018

 

Even Saudi Arabia wants in on the U.S. oil boom


U.S. oil boom tempts Saudis to consider american crude sale. Aramco said to have mulled Feb. sale via Motiva unit to Asia.State-run Saudi firm decided sale was unviable for the month. Video - U.S. Oil Supplies Hit OPEC Curbs

By Serene Cheong

SINGAPORE
Petroleumworld 02 23 2018

Starving venezuelan workers are collapsing. So is the oil industry

Wil Riera/Bloomberg

An PDVSA worker's refrigerator is bare at a home in Anzoategui State. Hungry employees are growing too weak for heavy labor, hobbling the refineries that keep the economy running.

By Fabiola Zerpa

CARACAS
Petroleumworld 02 23 2018

 

It's Official: Norway has avoided Dutch Disease

Kristian Helgesen/Bloomberg

Norges Bank study contradicts theory on economic impact of oil riches

By Sveinung Sleire

OSLO
Petroleumworld 02 22 2018

Ricardo Anaya: Mexico's pro-business candidate wants to wouble minimum wage

Alejandro Cegarra/Bloomberg

Position may steal thunder from leftist front-runner Amlo. Mexico has one of the lowest minimum wages in Latin America.

By Nacha Cattan

MEXICO CITY
Petroleumworld 02 22 2018

 

 

BP sees electric car as the future with peak oil demand in 2030s

Bloomberg

"We know a lot about these new technologies," Dudley says. "They have to be economic for our shareholders." Company had last year forecast demand would peak in 2040s. Revises down petrochemicals outlook due to plastics regulation -Video

By Anna Hirtenstein

LONDON
Petroleumworld 02 21 2018

Mexico's Obrador backs private oil, markets ignoring mexican leftist

Julio Cesar Aguilar/AFP

Business elites ignore Obrador despite his lead in polls and backs runner up Ricardo Anaya (in photo) - Video

By Nacha Cattan

MEXICO CITY
Petroleumworld 02 21 2018

 

U.S. oil exports go up a gear as VLCC supertanker loads in Louisiana Loop and set sail to China

Reuters


U.S. crude exporting previously made using smaller tankers

By Javier Blas and David Marino

LONDON/NEW YORK
Petroleumworld 02 20 2018

Guyana is about to open up Pandora's oil barrel

Andrew Caballero-Reynolds/AFP

Expats hold the key to whether its big offshore oil deposits bring riches -- or ruin.

By Mac Margolis

RIO DE JANEIRO
Petroleumworld 02 20 2018

Mexico's Ricardo Anaya, second place in polls says he won't be Trump's ‘doormat'

Alejandro Cegarra/Bloomberg

“No more will we turn ourselves into doormats before the U.S. government the way this federal government has done,” Anaya said.

By Nacha Cattan

MEXICO CITY
Petroleumworld 02 19 2018

Venezuela's ex-oil zar Rafael Ramirez, sued by Houston energy firm over bribe demands

Jewel Samad/AFP

Firm alleges associates of former minister solicited payoff. Houston-based energy company says it lost $470 million

By Peter Blumberg

HOUSTON
Petroleumworld 02 19 2018

 

U.S. Gulf refiners rushing for heavy U.K. crude to offset declining imports from Venezuela

wallstreetdaily.com

Gulf Coast imports of U.K. oil seen rising to seven-year high. Venezuela prioritizes Rosneft, China exports amid supply deals

By Laura Hurst and Lucia Kassai

LONDON/HOUSTON
Petroleumworld 02 16 2018

BHP to drill two new deepwater wells in Mexico's Trion this year

Bloomberg

BHP Billiton is gearing up for a potential bid to enter the highly promising deepwater Mexican oil exploration sector .

Reporting by David Alire Garcia

MEXICO CITY
Petroleumworld 02 16 2018

 

Petrobras sets next bid round for Brazil's TAG pipeline network to late March

Petrobras

TAG owns 4,500 kilometers (2,800 miles) of pipelines in northeast Brazil.

By Tatiana Bautzer, Carolina Mandl

SAO PAULO
Petroleumworld 02 15 2018

Russia and China may invest in Saudi Aramco IPO via joint investment fund

Bloomberg

Russia-China investment fund shows interest: RDIF's Dmitriev. Aramco IPO is at center of Saudi plan to reboot economy

By Vivian Nereim

RIYADH
Petroleumworld 02 15 2018

 

OPEC almost cleared oil glut but shale risk looms - IEA


Surplus supply has shrunk ‘dramatically,' monthly report shows. Non-OPEC output, led by U.S., is seen growing more than demand -Video - OPEC's control of the oil market is running on fumes

By Grant Smith

LONDON
Petroleumworld 02 14 2018

ExxonMobil on the offensive in climate change, sues the Suers

Bloomberg video

A ‘conspiracy' was hatched in La Jolla, Calif., company says. Exxon says the suits are violating its free speech rights - Video - Fighting climate change, without the U.S.

By Bob Van Voris

NEW YORK
Petroleumworld 02 14 2018

Shale oil surge won't thwart plan to clear glut -OPEC President

Matthew Busch/Bloomberg

Machinery used to fracture shale formations stands at a Royal Dutch Shell Plc hydraulic fracking site near Mentone, Texas, U.S., on Thursday, March 2, 2017.
U.S. shale won't be ‘huge distorter' for oil market: Mazrouei. Stronger demand, compliance with oil cuts seen to buoy prices. - Video

By Mahmoud Habboush, Wael Mahdi, Salma El Wardany, and Tamim Elyan

ABU DABHI/ KUWAIT/CAIRO
Petroleumworld 02 13 2018

Brazil to defend Guyana if Venezuela invade the disputed Essequibo area

Caribbean News Now

The defence teams from Guyana (L) and Brazil meeting in Georgetown . The United News of Suriname on Monday reported that the Brazilian mission to Guyana “pledged military support to defend Guyana in case Venezuela undertook an attempt to invade the disputed Essequibo area.”

By Caribbean News Now

GEORGETOWN, Guyana
Petroleumworld 02 13 2018

Shale boom fears drive oil below $60, worst week since 2016

Dimas Ardian


Measure of oil market volatility climbs to highest since Aug. S&P 500 Energy Index poised for biggest weekly loss since 2015

By Jessica Summers

NEW YORK
Petroleumworld 02 12 2018

A ‘hard-leftist' Gustavo Petro leads Colombia's presidential race

Nicolo Filippo Rosso/Bloomberg

Gustavo Petro, presidential candidate for the Progressivists Movement Party, speaks during a campaign rally in Tunja, Boyaca department, Colombia, on Jan. 31, 2018. 

By Matthew Bristow and Oscar Medina

BOGOTA
Petroleumworld 02 12 2018

 

Angola and Nigeria set to open giant fields. At what cost to OPEC deal?

Testing Commitment
Angola may exceed its cap with Kaombo's start. Nigeria will need to rein in output to comply.

- Accord commitment December volumes


Total to bring projects off Angola and Nigeria online in 2018. Field startups will add 430,000 barrels a day between them

By Angelina Rascouet

LONDON

Petroleumworld 02 08 2018

Venezuela resorts to swaps to get oil imports for PDVSA Curacao refinery

Jorge Silva/Reuters

The sun is seen setting behind Isla refinery in Willemstad on the island of Curacao June 16, 2008.

By Marianna Parraga

HOUSTON
Petroleumworld 02 08 2018

U.S. gas prices are missing out on Asia's oil rally

Tomohiro Ohsumi/Bloomberg

OPEC cuts lift oil, while global LNG market seen over-supplied. Shell, BP sell majority of LNG on oil price-linked contracts

By Dan Murtaugh, Perry Williams, and Stephen Stapczynski

SINGAPORE/TOKYO/SYDNEY
Petroleumworld 02 08 2018

U.S. focusing on Venezuela with oil sanctions more likely as Tillerson wrap up region tour

Jamaica Gleaner

Prime Minister Andrew Holness (left) with US Secretary of State Rex Tillerson at Jamaica House.

Venezuela oil sanctions more likely as Tillerson tours region. Tillerson says Trump hasn't made a decision on next steps. U.S. wants to understand possible impact on Caribbean.

By Nick Wadhams

WASHINGTON
Petroleumworld 02 08 2018

American shale oil to the Middle East a sign of changing times

kpler

U.S. oil heads to middle east in latest sign of shale's spread. Cargo said to be condensate meant for Abu Dhabi's splitters. First U.S. oil cargo to be exported directly to U.A.E.: Census

By Sheela Tobben

NEW YORK
Petroleumworld 02 07 2018

U.S. oil headed to 11 million barrels per day sooner than espected

James Durbin/Reporter-Telegram

Oil output to climb above key level in November of this year. WTI price forecasts raised for both 2018 and 2019: EIA.

By Jessica Summers and Catherine Traywick

NEW YORK / WASHINGTON
Petroleumworld 02 07 2018

Gas glutt for drillers turns into delay pay off

The Fuse

Gas pumped from Texas to collide with Pennsylvania supplies. Evolution of Gulf Coast market to turn against shale drillers.

By Ryan Collins

HOUSTON
Petroleumworld 02 06 2018

Potential U.S. oil sanctions to Venezuela could hit Texas refiners hardest

Michelle Gustafson/Bloomberg

U.S. weighs banning oil imports from Venezuela: Tillerson. Valero, Chevron among refiners that have most to lose.

By Lucia Kassai

HOUSTON
Petroleumworld 02 06 2018

 

Tillerson presses Venezuela with oil sanctions in the works, should follow country's constitution

US State

Restrictions would also limit sale of U.S. refined products.

By Nick Wadhams and Jorgelina Do Rosario

BUENOS AIRES
Petroleumworld 02 05 2018

Oil pushing bull run with bumps as U.S. drilling expands


Short-sellers boost positions on WTI for a third week. WTI declines to trade near $65 after dropping last week

By Sharon Cho

SINGAPORE
Petroleumworld 02 05 2018

 

OPEC pact: Saudi masks venezuelan oil decline, Russia suply steady

Tight Pack

Source: Bloomberg, Russian Energy Ministry
Russia, OPEC held oil production steady in January sticking to output agreement

By Grant Smith, Dina Khrennikova, and Elena Mazneva

LONDON/MOSCOW
Petroleumworld 02 02 2018

Pemex ready to close a $2.6 billion refining venture with Mitsui & Co.

Bloomberg

Pemex refining head looks to Mitsui-led deal to help struggling business. Company is in final stage of JV deal with Mitsui-led consortia. Pemex seeks new infrastructure to import crude for refineries.

By Amy Stillman

MEXICO CITY
Petroleumworld 02 02 2018

Mexico awarded 19 deep-water oil blocks, Shell dominates biggest-yet bidding round



Shell wins rights to develop nine blocks auctioned Wednesday. 19 of Mexico's 29 deep-water oil blocks receive winning bids

By Adam Williams

MEXICO CITY
Petroleumworld 02 01 2018

Guyana towards the International Court with the Venezuela border controversy

The Independent

UN refers Guyana-Venezuela border dispute to International Court of Justice (ICJ). Venezuela rejects referral of border controversy to ICJ.

By Kaieter News

GEORGETOWN
Petroleumworld 02 01 2018

 

January

A $190 billion boost to U.S. oil is in Trump tax plans

Win McNamee/Getty Images

Value of profitable assets to rise 19 percent, WoodMac says. Lower rates, enhanced expensing outweight cuts to deductions. President Trump delivered his first State of the Union speech to Congress on Tuesday night. Here are highlights. -Video

By Alex Nussbaum

BOONTON, New Jersey.
Petroleumworld 01 31 2018

Mexico's energy reform a bost for hard-hit oil service firms

Reuters

Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil firm Pemex.

By Marianna Parraga and Adriana Barrera

HOUSTON/MEXICO CITY
Petroleumworld 01 31 2018

Oil to stay above $70? Claudio Descalzi, Eni's Chief doesn't think so


Eni CEO Claudio Descalzi discusses pricing and output in the oil market. He speaks with Bloomberg's Annmarie Hordern. -Video

By Chiara Albanese

ROME
Petroleumworld 01 30 2018

Mexico struggling with Pemex, presidential elections stall oil joint ventures

Reuters/Carlos Jasso

Juan Carlos Zepeda, head of Mexico's national hydrocarbons commission (CNH), gestures as he speaks during an interview with Reuters in Mexico City, Mexico January 22, 2018.

By Ana Isabel Martinez, Adriana Barrera

MEXICO CITY
Petroleumworld 01 30 2018

Hedge funds total positioning on U.S. oil benchmark is at highest ever

Daniel Acker/Bloomberg

Hedge funds are betting big on oil. Money managers amp up bullish wagers in New York, London

By Jessica Summers

NEW YORK
Petroleumworld 01 29 2018

Drilling oil rigs across U.S. oil fields most in 10 Months as price is push up

Andrey Rudakov/Bloomberg


Oil rig fleet expands in U.S. as crude surges. Drillers added 12 rigs this week, most since March 2017

By Bailey Schulz

NEW YORK
Petroleumworld 01 29 2018

 

'Good chance' for Nafta Trump says in Davos as Montreal talks go on

Bloomberg

Mexico says pact is ‘in much better standing than a year ago'. Three ministers will fly in for end of pivotal sixth round

By Josh Wingrove

DAVOS, Switzerland
Petroleumworld 01 26 2018

Oil's big guns ready to fire offers into Mexico's deep waters auction

Susana Gonzalez/Bloomberg

Mexico to auction 29 deep-sea exploration zones on Jan. 31. Pemex, Exxon, Shell are among drillers contemplating bids

By Adam Williams and Sabrina Valle

MEXICO CITY
Petroleumworld 01 26 2018


OPEC cuts lay open oil once more towards the unexpected


Supply disruptions may climb materially this year: Citigroup. Modest 1H surplus seen turning into modest 2H deficit: IEA - Video

By Ben Sharples

HONG KONG
Petroleumworld 01 25 2018

Venezuela squeezes regimen foes with a presidential election in April

AFP

Photo: President Nicolas Maduro.The swift timetable will challenge a divided opposition. Regime has been accused of rigging votes, repressing opponents - Video

By Andrew Rosati and Patricia Laya

CARACAS
Petroleumworld 01 25 2018

Oil rally may extend further on Venezuela's output woes

Benedikt von Loebell / World Economic Forum

“My concern is that events in Venezuela could lead to a shock and prices could go to $80 per barrel this year,” he told Reuters Television at the World Economic Forum in Davos.

By Dmitry Zhdannikov

DAVOS, Switzerland
Petroleumworld 01 24
2018

Oil prices make good for oil majors eyeing Mexico's deep waters auction


The potential for 4.2 billion barrels of crude is the draw. Exxon leads potential bidders lining up from the U.K. to China

By Adam Williams

MEXICO CITY
Petroleumworld 01 24
2018

Why the U.S. is buying liquified natural gas from Russia

Maxim Zmeyev/AFP

The Yamal LNG plant.

By Rob Verdonck and Anna Shiryaevskaya

WARSAW/LONDON
Petroleumworld 01 23
2018

Puerto Rico to privatize Puerto Rico Electric Power Authority-Governor Rossello

Adrian Brito

The Puerto Rico Electric Power Authority ( PREPA ) is the sole provider of electricity for 1.5 million customers.

By Jonathan Levin and Yalixa Rivera

MIAMI/SAN JUAN
Petroleumworld 01 23
2018

IEA's Birol sees ‘explosive' growth in U.S. oil output as prices rally

Gains in U.S., Canada will outweigh declines elsewhere: IEA. Oil trading near 3-year high is stimulating new crude supply

By Angelina Rascouet

LONDON
Petroleumworld 01 22
2018

Mexico's energy opening faces test in deepwater on bid's 4 of round 2 oil & gas auction

Mexicos's 4 bid process of round 2 oil & gas auction will take place in Mexico City on Wednesday , January 31, 2018

By Dave Graham

MEXICO CITY
Petroleumworld 01 22
2018

 

Oil kings are under threat, U.S. crude pushing price

Crude from U.S. to Europe threatens Middle East sales in Asia. Some producers review pricing methodology in buyers' market. -Watch video

By Serene Cheong

SINGAPORE
Petroleumworld 01 19
2018

Venezuela's PDVSA has some bad news and some really bad news


The country's oil production has collapsed.

By Liam Denning

NEW YORK
Petroleumworld 01 19
2018

 

Trump's offshore oil drilling plan will struggle to lure rigs from other prospects like Guyana

Derick E. Hingle/Bloomberg

U.S. East Coast may be edged out by other tempting prospects. Lawsuits and development costs will dissuade many investors

By Jennifer A Dlouhy

WASHINGTON
Petroleumworld 01 18
2018

Mexico's govt party presidential candidate Jose Antonio Meade sees support fall

Andrew Harrer/Bloomberg

Instead of draining it, Mexico's presidential candidate gets mired in the swamp. Candidate struggles to distance himself from PRI's problems. Meade sees support fall as new allegations against PRI surface.

By Nacha Cattan

MEXICO CITY
Petroleumworld 01 18
2018

U.S. warns investors over 'petro' cryptocurrency, declared by Venezuela's Congress a disguise illegal debt issuance

ETH News

“The petro digital currency would appear to be an extension of credit to the Venezuelan government ... (and) could therefore expose U.S. persons to legal risk,” a Treasury spokesman told Reuters on Tuesday.

By Lesley Wroughton, Girish Gupta

WASHINGTON/CARACAS
Petroleumworld 01 17
2018

BP estimate $3 billion for 2018 on Gulf spill charge

Kari Goodnough/Bloomberg

BP's $60 billion gulf spill tab rises as lawsuits wind down. Company expects $1.7 billion charge in fourth-quarter results. Payments from deadly accident now seen at $3 billion for 2018

By Amanda Jordan and Kelly Gilblom

LONDON
Petroleumworld 01 17
2018

Vitol signs with OPEC's member Algeria first deal to refine oil abroad

Adam Berry/Bloomberg

Algeria to start shipments in February to refinery in Italy.‘We don't want to continue to import $2 billion of fuel': CEO

By Salah Slimani and Salma El Wardany

CAIRO
Petroleumworld 01 17
2018

 

LONDON
Petroleumworld 01 16 2018

Oil prices near three-year high as hedge funds increase bullish bets


Hedge funds boost bullish WTI bets to highest since 2006: CFTC. Brent in London closes Monday above $70 first time in 3 years

By Ben Sharples

HONG KONG
Petroleumworld 01 16 2018

Banks predict OPEC will end supply cuts as oil get to $70

Bloomberg

Citi, JPMorgan say less intervention possible from mid-2018.Increase in crude prices is encouraging rival supply: analysts. IEA's Birol on oil prices, Venezuela, future of oil -Video

By Grant Smith

LONDON
Petroleumworld 01 16 2018

Burning Iranian oil tanker in China Sea sink, ‘Serious' petroleum spill covers 10 square kilometers


An Iranian oil tanker collided with another ship on Saturday Jan. 6, off the coast of Shanghai. All 32 crew members on board presumed dead, Iran said earlier. - video

By Bloomberg News

HONG KONG/TEHRAN
Petroleumworld 01 15 2018

Nafta real problem is with Canada, not Mexico, Ryan says


U.S. House Speaker Paul Ryan. What to expect after president Trump reiterates Nafta threat - Video

By Anna Edgerton and Josh Wingrove

WASHINGTON
Petroleumworld 01 12 2018

 

Why rig count is not up but price of oil is


Rig count no longer enough to estimate U.S. production. Forecasters look at everything from sand use to hiring stats. OPEC's control of the oil market is running on fumes -Video

By David Wethe

HOUSTON
Petroleumworld 01 12 2018

Sergio Fajardo a math whiz who doubled debt is favorite to win Colombian election

Mauricio Moreno/GDA via AP

Sergio Fajardo in 2013.
Fajardo took out dollar loans to finance education projects. Debt payments of Antioquia province soared as peso weakened.

By Matthew Bristow

BOGOTA
Petroleumworld 01 12 2018

 

Canada on alert U.S. could leave Nafta


Bloomberg's Josh Wingrove reports on the status of Nafta talks. Loonie, peso fall ahead of next round of talks in Montreal. U.S. bristles after Canada escalates trade fight at WTO
-Video

By Josh Wingrove

OTTAWA
Petroleumworld 01 11 2018

U.S. now a net gas exporter, pipelines to Mexico, Cheniere's LNG shipments do the trick


The first time in 60 years. 2.2 billion cubic-feet-per-day flip seen between 2016 and 2017

By Naureen S Malik

NEW YORK
Petroleumworld 01 11 2018

Stronger oil prices on the road on massive drop in U.S. stockpile


Matthew Busch/Bloomberg

Crude inventories slid by 11.2 million barrels last week: API. U.S. output forecast by EIA to expand above 10 million b/d

By Ben Sharples

HONG KONG
Petroleumworld 01 10 2018

Florida off Trump's offshore drilling plan after objections

Hoberman Collection/Getty Images

State's Democratic senator says politics motivated switch. Governor Scott, a Republican, expected to run for Senate seat

By Jennifer A Dlouhy

WASHINGTON
Petroleumworld 01 10 2018

 

Supertankers the real victim from OPEC's oil cuts

Stephane De Sakutin/AFP

Production curbs and tanker oversupply crush daily earnings. Returns slumped 57 percent year-on-year in 2017, data show

By Firat Kayakiran

LONDON
Petroleumworld 01 09 2018

U.S. open to drill in all offshore waters, but big oil focus is on eastern Gulf

Reuters

The Arctic is remote and expensive, Pacific states such as California have vowed to block drilling, and other areas also harbor deep opposition from politicians, environmental groups and business interests worried about spills. “The eastern Gulf of Mexico could be very attractive to industry because of the proximity to existing infrastructure in the central and western Gulf of Mexico,”-NOIA

By Ernest Scheyder, Valerie Volcovici

HOUSTON/WASHINGTON
Petroleumworld 01 09 2018

Oil tanker carrying 136,000 tons of light oil ablaze off Chinese coast at risk of explosion

CCTV via Reuters TV

Smoke and fire billow from the Panama-registered tanker Sanchi, carrying 950,000 barrels aprox. of Iranian oil, after it collided with a Chinese freighter in the East China Sea, in this still image taken from a video Sunday.

By AFP-JIJI, REUTERS

BEIJING/SEOUL/LONDON
Petroleumworld 01 08 2018

With hyperinflation is a messy business paying venezuelans


Monthly salary hikes won't do. Bonuses of food crates, vouchers, dollars have become the norm. Companies trying to prevent top employees from fleeing country. Why Venezuela is getting increasingly desperate - Video

By Noris Soto and Fabiola Zerpa

CARACAS
Petroleumworld 01 08 2018

 

 

Trump to open new offshore oil & gas drilling in most U.S. coastal waters

Tim Rue

Proposal includes waters off California, Florida coasts. Environmentalists have fought expanded drilling for decades

By Jennifer A Dlouhy

WASHINGTON
Petroleumworld 01 05 2018

Petrobras to pay $3 billion to settle U.S. lawsuits over corruption scheme

Ricardo Moraes

Settlement ends three years of litigation over bribery scheme. Payout less than half the amount expected by Morgan Stanley - Video

By Sabrina Valle

RIO DE JANEIRO
Petroleumworld 01 01 2018

 

 

The Famous Five: Oil's key people who could define the market in 2018

Bloomberg

Khalid Al-Falih, Alexander Novak,Tim Dove,Nicolas Maduro,Elon Musk

By Christopher Sell and Grant Smith

LONDON
Petroleumworld 04 01 2018

Extreme cold weather sinks U.S. natural gas exports to Mexico

Luke Sharrett /Bloomberg

Residential and commercial demand in the Gulf has soared. Gas prices in West Texas hit the highest level in a year

By Ryan Collins

HOUSTON
Petroleumworld 04 01 2018

 

Oil 2018: Iran may not be oil's biggest wild card

Leon Neal

A more tangible swing factor for prices is right here in the U.S.

By Liam Denning

NEW YORK
Petroleumworld 03 01 2018

Election year enters in Mexico with spate of political killings

Francisco Robles/AFP

Relatives and friends of mayor Arturo Gomez carry his coffin during his funeral in Petatlan, Mexico, on Dec. 29, 2017. One mayor, two mayoral aspirants murdered in less than a week.Twenty one mayors and former mayors killed last year: Alcaldes

By Nacha Cattan

MEXICO CITY
Petroleumworld 03 01 2018

 

 

 

 

 

 


 

 

 

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