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

Top Headlines 2017 January/June

Top Headlines 2017 June/December

Top Headlines 2018 Jan- April

Top Headlines 2018 May - June

 

Top Headlines 2018 Jul -Ago - Sep

 

 

Mexico's rounds winners positive as industry wait for AMLO


"We have expectations that things will pick up again and continue,” said DEA Deutsche chief executive officer Maria Moraeus Hanssen.

- BHP is hopeful that Mexico's oil bid rounds will ‘come back'
- DEA Deustche sees opportunities in the secondary market

By Amy Stillman

ACAPULCO, Mexico
Petroleumworld 09 28 2018

Can China influence global oil prices with a new bench mark in Asia ?

Callaghan O'Hare/Bloomberg

China influencing global oil prices? The debate heats up.

- Clamor for new benchmarks in Asia growing, Shell says at APPEC
- BP, Vitol say more work needed on physical delivery options

By Ann Koh, Heesu Lee, and Serene Cheong

SINGAPORE/SEOUL
Petroleumworld 09 28 2018

 

Total CEO Pouyanne sees oil at $100

Bloomberg TV

Total SA Chief Executive Officer Patrick Pouyanne sees oil heading to $100 with strong support for prices, and says It may not be a good thing - Video -

- High prices may not be good for economy, oil companies: CEO
- Any spare supply boost from Saudi Arabia would take time

By Ben Sharples and Francine Lacqua

HONG KONG / NEW YOK
Petroleumworld 09 27 2018

Talk of military intervention in Venezuela suddenly gains traction

Bloomberg TV

Video: Venezuela Refugee Crisis Reaches Brazil . Trump's Venezuela military option gains backers as millions flee. “I just want to see Venezuela straightened out,” Trump said.“I want the people to be safe. We're going to take care of Venezuela.” Trump told reporters at the UN in New York ahead of his chairing of a meeting of the Security Council - Bloomberg.

- Talk of U.S. military intervention is limited but seems to be growing
- Neighbors remain wary given long history of U.S. actions

By Matthew Bristow

BOGOTA
Petroleumworld 09 27 2018

Donald Trump has a weapon to lower oil prices

Bloomberg TV

-Video - Trump says OPEC is 'ripping off the world'

- Traders and analysts see possible SPR oil release before Nov.
- 30 million barrels could drop oil by ‘a couple of bucks': Citi

By Javier Blas, Heesu Lee, and Dan Murtaugh

LONDON/SEOUL/SiNGAPORE
Petroleumworld 09 26 2018

Oil majors warn of backlash as they make vows on climate change

samuel-warde.com

CEOs of BP, Exxon, Saudi Aramco among gathering in New York. Oil and Gas Climate Initiative pledge to cut methane emissions

By Alex Nussbaum

NEW YORK
Petroleumworld 09 26 2018

 

OPEC oil producers with an unlikely future


Source: OPEC

The group's demand forecasts don't gibe with reality.

By Liam Denning

LONDON
Petroleumworld 09 25 2018

U.S. oil exports to China another trade war casualty



Unipec puts plan to boost U.S. oil imports on hold: Chen Bo. Trading unit of Sinopec sees U.S.-China dispute as temporary

By Alfred Cang and Serene Cheong

SINGAPORE
Petroleumworld 09 25 2018

OPEC stand firm to Trump's demand for lower oil prices

Bloomberg TV

Video: OPEC says it will boost output only if customers request it. Bloomberg's Ben Sharples reports.

- Group pledges to boost production only if customers ask for it
- Saudi Arabia says the market has all the oil its needs for now

By Elena Mazneva, Wael Mahdi, and Grant Smith

ALGIERS/LONDON
Petroleumworld 09 24 2018

Major oil traders see a return to $100 oil


Mercuria sees possibility of $100 spike in fourth quarter . Trafigura sees $90 oil by Christmas and $100 in early 2019

By Javier Blas, Heesu Lee, Alfred Cang, and Dan Murtaugh

LONDON/SEOUL/ SINGAPORE
Petroleumworld 09 24 2018
ns.

 

Trump puts price pressure on OPEC as Brent nears $80

U.S. president tweets that OPEC ‘must get prices down now!' OPEC ministers to meet this weekend to discuss oil market - Video - Trump Puts Price Pressure on OPEC Ahead of Meeting

By Samuel Robinson

NEW YORK
Petroleumworld 09 212018

Brazil's leftist voters split between Haddad and Gomes in fresh poll on presidential race

Andre Coelho/Bloomberg

Ciro Gomes. Workers' Party candidate Haddad gets 16%, Gomes gets 13%. First-round vote set for Oct. 7, likely runoff on Oct. 28

By Matthew Malinowski

BRASILIA
Petroleumworld 09 21 2018

OPEC's in the middle of a changing world seeking a new way forward

Exporters' group has navigated both supply and demand crises. Biggest questions now are relationship with Russia, U.S. shale

By Christopher Sell

LONDON
Petroleumworld 09 20 2018

China could replace U.S. gas, Goldman sees end to trade

China slaps 10% levy on U.S. LNG instead of threatened 25%. Chinese buyers are said to avoid U.S. cargoes on trade risks

By Stephen Stapczynski and Dan Murtaugh

SYDNEY/SINGAPORE
Petroleumworld 09 20 2018

Saudis good with oil's near $79


Saudi Arabia Is Testing Trump on Oil Prices, Tom Petrie Says - Video -

- Saudi Arabia is content with Brent prices rising in short term

- Brent little changed after advancing 1.3 percent on Tuesday

By Sharon Cho

SINGAPORE
Petroleumworld 09 19 2018

Brexit: ‘The Moment of Truth'

Tom Hall/Bloomberg

Today in Brexit: As all eyes turn to Salzburg, the Prime Minister is told that next month is the real test.

By David Goodman

LONDON
Petroleumworld 09 19 2018

 

U.S. sanctions cripple iranian oil exports, a big win for Trump

Ali Mohammadi/Bloomberg


Iranian crude exports have dropped more than 40% since April. Bigger-than-expected plunge in sales is tightening oil markets

By Javier Blass

LONDON
Petroleumworld 09 18 2018

U.S. energy in crosshairs on Trump's trade war

Lindsey Janies /Bloomberg

The Asia Vision LNG carrier ship sits docked at the Cheniere Energy Inc.  Sabine Pass, Texas.

- China, world's biggest gas buyer, has threatened U.S. supplies

- U.S. LNG may be included in next round of retaliatory duties

By Stephen Stapczynski

TOKYO
Petroleumworld 09 18 2018

OPEC sees demand headwinds and the need to keep oil supply deal


Demand is robust despite some headwinds, OPEC Secretary-General Mohammad Barkindo tells Bloomberg. -Video -


- ‘No viable alternative' to global supply deal: OPEC's Barkindo

- Market uncertainties ‘on the horizon': Saudi energy ministry

By Anthony Dipaola

DUBAI
Petroleumworld 09 17 2018

The Bakke, North Dakota is now pumping as much Crude as Venezuela

Bloomberg

While the OPEC member's output tumbles, North Dakota's soars. July production set a new record for second time this year

By Stephen Cunningham

WASHINGTON
Petroleumworld 09 17 2018

 

Be aware: Higher oil prices as Iran, Venezuela losses deepen, IEA says



IEA: Unclear if other producers will offset the shortfal. Venezuelan output may slump as low as 1 million barrels a day - Video - OPEC warning:Brewing global risks may hit oil demand

By Grant Smith

LONDON
Petroleumworld 09 14 2018

Venezuela to get $5 billion loan from China as Maduro Visits Beijing

jsg.utexas.edu

Credit line to be paid back in oil or cash, minister says . Maduro seeking greater Chinese support in state visit

By Bloomberg News

LONDON
Petroleumworld 09 14 2018

 

EU will have no choice but to bend to U.S. sanctions on Iran - Javier Solana

Jock Fistick/Bloomberg

Javier Solana

- U.S. wields ultimate dollar power, according to Javier Solana

- Former NATO chief and EU foreign envoy commments in interview

By Esteban Duarte

TORONO
Petroleumworld 09 12 2018

California's Jerry Brown confront Trump with a push for 100% clean energy


California's plan to get to 100 percent clean energy -Video -

- California governor calls president 'enemy of the people'

- Trump climate policy risks 'ultimate extinction,' Brown says

By Emily Chasan and Mark Chediak

NEW YORK / SAN FRANCISCO
Petroleumworld 09 12 2018

Mexico's Lopez Obrador set $3.9 billion in new oil investment

Petroleum Economist

The new government will call for bids for oil service contracts as soon as Lopez Obrador takes office at the start of December

- Next Mexico president will spend 100 billion pesos on refining Rising output from OPEC members is fueling tensions
- His government will have 'zero tolerance' for corruption

By Amy Stillman

MEXICO CITY
Petroleumworld 09 11 2018

Brazil's sun and wind along with Crude ready for big oil

Business Day

"The transition to a low-carbon era has started," said Decio Oddone, the head of Brazil's National Petroleum Agency, known as ANP.

- Brazil is already a regional leader in renewable energy .
- Total, Shell, Equinor bet on low-carbon transition in Brazil

By Sabrina Valle

MEXICO CITY
Petroleumworld 09 11 2018

OPEC tensions on Iran sanctions, expect fireworks at meeting this month

Bloomberg

Rising output from other OPEC members is fueling tensions .

By Julian Lee

LONDON
Petroleumworld 09 10 2018

Trump administration met Venezuela officers coup plotters -NYT

Cristian Hernandez/EPA

Lawmakers in Caracas last month. The plotters considered striking last summer, when the government suspended the powers of the legislature and installed a new assembly loyal to Mr. Maduro. Outreach came to nothing as U.S. opted in the end not to help.Trump has considered an array of options for Venezuela crisis.

By Ernesto Londoño and Nicholas Casey

NEW YORK
Petroleumworld 09 10 2018

 

 

Saudis ramp up oil exports into the U.S. as a response Trump

Bloomberg


- Saudi Arabia is shipping the highest volume in a year to U.S.
- Riyadh is offering better oil prices for U.S.-based refiners

By Javier Blas

LONDON
Petroleumworld 09 07 2018

Mexico's Lopez Obrador says oil auctions will continue

Arturo monroy/notimex

Andrés López Obrador is due to take office as Mexico's president on Dec. 1.

- "We are already preparing tenders for the drilling of wells"
- AMLO to meet with oil company representatives on Saturday

By Amy Stillman and Eric Martin

MEXICO CITY
Petroleumworld 09 07 2018

 

Europe could save 11 billion barrels of oil with electric trucks

Krisztian Bocsi/Bloomberg

A Mercedes-Benz eActros electric cargo truck, left, stands beside a Mercedes-Benz Vito electric van during the Daimler AG shareholder meeting in Berlin on April 5.

- Cleaning up fleet can impact oil demand by 2030, study shows
- More efficient trucks seen reducing emissions in next decade

By Jeremy Hodges

LONDON
Petroleumworld 09 06 2018

U.S. move to win India on iranian oil imports as sanctions loom

Bloomberg

- As Pompeo arrives in Delhi, Iran oil conversation is ongoing
- Pompeo, Mattis in Delhi for talks with Indian counterparts

By Nick Wadhams

WASHINGTON
Petroleumworld 09 06 2018

Africa a quest for majors to unlock vast oil reserves

Bloomberg/carto

- Rigs drilling in Africa's waters have hit a two-year high.

- Companies including Exxon, Shell, BP have accumulated acreages

By Paul Burkhardt

JOHANNESBURG
Petroleumworld 09 05 2018

Prisoner, army captain, MD, or rainforest warrior: who'll rule Brazil?

Leo Correa/AFP

The six leading contenders in this year's wildly unpredictable election.

By Bruce Douglas and Raymond Colitt

BRASILIA
Petroleumworld 09 05 2018

 

Sanctions on Iran: U.S. throttles iranian oil flows to buyers who vowed resistance


- Iran's Aug. exports to top customers such as China, India drop

- Refiners face Nov. 4 U.S. deadline without clarity on waivers

By Serene Cheong

SINGAPORE
Petroleumworld 09 04 2018

Latin America in crisis Summit amid Venezuela exodus

Andre Coelho/Bloomberg

Officials meeting on how to control surge, protect migrants. More than two million Venezuelans now living outside country.

By Stephan Kueffner

QUITO
Petroleumworld 09 04 2018

 

Bloomberg interview Trump talks Trade, Taxes and Sessions - full transcript


Bloomberg Editor-in-Chief John Micklethwait and Bloomberg Businessweek's Peter Coy discuss the takeaways from Bloomberg News' Oval Office interview with President Donald Trump. - Video-

By Bloomberg News

WASHINGTON
Petroleumworld 09 03 2018

Iran's secret oil shipments could help to cushion U.S. sanctions blow


Iran said it doesn't believe buyers of its oil will get waivers from the U.S. government - Video-

- Discounts, smuggling among tactics to thwart sanctions
- Country could ship 800,000 barrels a day in mid-2019: FGE

By Ellen Milligan

LONDON
Petroleumworld 09 03 2018

Trump Bloomberg Interview: Iranian regime may go under

Al Drago/Bloomberg

Trump speaks during an interview in the Oval Office on Aug. 30. Trump Says Europe's Offer for No Auto Tariffs Isn't Good Enough - Video -

- U.S. left international nuclear accord with Iran in May
- Iran faces high inflation, weakening currency, oil sanctions

By John Micklethwait , Jennifer Jacobs , and Margaret Talev

NEW YORK
Petroleumworld 08 31 2018

Canada's Newfoundland is shipping its oil to the old world

Darren Calabrese / macleans.ca

Ocean-going tugboats servicing oil rigs moored in the harbour in St. John's, N.L.

- Newfoundland crudes have shipped to more than 13 countries

- More oil seen heading further abroad on IMO, Iran sanctions

By Sheela Tobben

NEW YORK
Petroleumworld 08 31 2018

Venezuela with a border crisis of epic proportions, neighbors join to contain refugees

Isac Dantes/AFP

Residents of the Brazilian town of Pacaraima burnt tyres and belongings of Venezuelan immigrants earlier this month after attacking their two main makeshift camps, leading them to cross the border back home. Venezuelans Trapped in Brazilian Backwater Face Riots and Violence. Migrant camps are burnt at the Venezuela-Brazil border -Video -

- Meetings throughout the region aim to create unified policies
- The outflow now equals Europe's Mediterranean migrant crisis

By Matheew Bristow and John Quigley

NEW YORK
Petroleumworld 08 30 2018

Iraq ready to boost oil exports to cover for Iran if OPEC gives ok

artsakhpress.am

Why Oil Prices Might Be Setting Up for a Bounce Higher - Video -

- Shipments in August will be close to 3.595 million b/d: SOMO.
- Jordan energy minister invited for talks to resume oil imports

By Khalid Al Ansary and Grant Smith

BAGHDAD/LONDON
Petroleumworld 08 30 2018

Canada has Nafta wiggle room but will resist on one big issue


Canada May Have More Leverage on U.S. Trade Deal, Says Cutler -Video -

- Dispute panels remain a red line for Canada in trade talks
- U.S.-Mexico deal makes other contentious issues more palatable

By Josh Wingrove and Greg Quinn

OTAWA
Petroleumworld 08 29 2018

California to be 100% on clean power by 2045

The Way Humans Get Electricity Is About to Change Forever - Video -

- State poised to end electricity generation from coal, gas
- Move would require massive amounts of energy storage

By Mark Chediak and Chris Martin

SAN FRANCISCO / NEW YORK
Petroleumworld 08 29 2018

China target mideast energy after Total leaves Iran

Anadulu


Chinese President Xi Jinping and Iranian President Hassan Rouhani at a meeting at Saadabad Palace in Tehran, Iran on January 23, 2016.

- Middle East accounts for more than 40% of China's oil imports
- China National Petroleum is partner in Iran South Pars project

By Mohammed Sergie

ABU DHABI
Petroleumworld 08 28 2018

Pemex insider Ruiz Alarcon to be name E&P boss under AMLO

Academia Mexicana de Ciencias

Fulvio Ruiz alarcon, next Exploration and production VP of Pemex under Andres Lopez Obrador govt.

- Pemex will have a new chief executive officer in December .
- Lopez Obrador seeks to raise output by one-third in two years

By Amy Stillman

MEXICO CITY
Petroleumworld 08 28 2018

Ecopetrol shopping abroad to expand and boost reserves

colprensa

Felipe Bayon, Ecopetrol CEO

- Company is looking at investments in Mexico, Brazil, U.S.
- Oil hedge is a possibility, but would 'require debate': CEO

By Jessica Summers and Oscar Medina

BOGOTA
Petroleumworld 08 27 2018
."

Maduro's stepsons implicated in rampant corruption in Venezuela, U.S. uncovered billions in fraud at PDVSA

AP

Venezuela's President Nicolas Maduro speaks at the inauguration of a new branch of the National Experimental Security University (UNES) in Caracas, Venezuela, Friday, Aug. 23, 2013

- Maduro's stepsons face scrutiny in $1.2 billion graft case

By Joshua Goodman

BOGOTA
Petroleumworld 08 27 2018

 

Saudi Aramco's postponed IPO put on hold Saudi Prince's master plan

Luke MacGregor/Bloomberg

Mohammed bin Salman

One of the world's biggest ever stock sales was supposed to underpin the economic transformation of the Gulf kingdom. Why Saudi Aramco Put Its IPO on Hold - Video -

By Matthew Campbell and Glen Carey Riyadh

LONDON/RIYADH
Petroleumworld 08 24 2018

Lopez Obrador to change rules on Pemex partnerships

Sashenka Gutierrez/EFE

Mexico's General Director of Chevron Energia de Mexico Benigna Leiss (R) and President Commissioner at National
Hydrocarbons Commission Juan Carlos Zepeda (2L), during the signing ceremony to form a joint venture between Pemex,
Chevron and Inepex to explore for oil in deep waters of the Gulf of Mexico, in Mexico City, Mexico, Feb. 28, 2017.

- Mexico's President-Elect could change the law on Pemex
- Lopez Obrador is reviewing oil contracts already awarded

By Amy Stillman and Eric Martin

MEXICO CITY
Petroleumworld 08 24 2018

Aramco to focus on chemical Sabic acquisition, IPO on hold


Aramco Shift From IPO to Sabic Stake a Smart Move, MSCI CEO Says "- Video -

- Focus on buying stake in petrochemicals giant will delay IPO
-
Company told some financial advisers to suspend IPO work

By Wael Mahdi and Javier Blas

LONDON
Petroleumworld 08 23 2018

Matthias Krull, former Julius Baer executive pleads guilty to PDVSA money laundering

evtv miami

Matthias Krull, admitted to bribing PDVSA officials to steer about $1 billion in energy-supply contracts.

By Chris Dolmetsch

NeW YORK
Petroleumworld 08 23 2018

 

AMLO's oil stance could derail U.S., Mexico Nafta talks

Mauricio Palos/Bloomberg

Andres Manuel Lopez Obrador

- Some in Lopez Obrador's team are said to want energy excluded
- Negotiators concerned backtracking on oil could derail talks

By Eric Martin and Amy Stillman

MEXICO CITY
Petroleumworld 08 22 2018

Venezuelans struggle with regime's new economic plan


Venezuela on Tuesday began confronting a 95 percent currency devaluation and a minimum wage hike of more than 3,000 percent. Bloomberg's Andrew Rosati has the latest on "Bloomberg Markets." -Video -

- A strike doesn't take as residents line at ATMs for new money
- Pricing chickens with a new currency and an epic devaluation

By Andrew Rosati and Fabiola Zerpa

CARACAS
Petroleumworld 08 22 2018

Conoco to collect $2 billion for asset seizures by Venezuela

Technip

ConocoPhillips' Ameriven upgrader in Jose, Venezuela.

- PDVSA to pay $500 million initially, rest over four years
- U.S. company suspending actions against Caribbean terminals

By Alex Nussbaum and Lucia Kassai

NEW YORK /HOUSTON
Petroleumworld 08 21 2018

U.S.will put in the market 11 million barrels of SPR oil to offset Iran sanctions

Luke Sharrett/Bloomberg


- Government sale to put oil on the market in October, November
-
Deadline for allies to halt Iranian oil imports is Nov. 4

By Stephen Cunningham

NEW YORK
Petroleumworld 08 21 2018

Venezuela in chaos, regime decree 95% devaluation, 3,500% minimum wage hike


Venezuela's worthless currency bills - Video - Venezuela Devalues Currency by 95%

- Harsh economoic measures may test Maduro's grip on power.
- Inflation likely to worsen after devaluation, wage increase

By Eduardo Thomson and Fabiola Zerpa

CARACAS/SANTIAGO
Petroleumworld 08 20 2018

Dreaded old OPEC ghost revives on emerging markets turmoil

Dimas Ardian/Bloomberg

- Oil cartel has memories of the impact of 1997 Asian crisis.
-
Saudis are likely to adopt a more cautious policy approach

By Javier Blas and Grant Smith

LONDON
Petroleumworld 08 20 2018

Oil's on 7th week longest losing run since 2015 on disturbance and stockpile

Daniel Acker/Bloomberg


- 7th weekly slide seen on Turkey-driven tumult, stockpile gain
- WTI trades near $65 as concerns persist about U.S.-China spat

By Tsuyoshi Inajima

TOKYO
Petroleumworld 08 17 2018

Petrobras could turn around on the sell of its stake on petrochemicals Braskem, CFO says

abcdoabc

- Waiting on Lyondell's offer for Odebrecht's stake in Braskem.
- Petrobras May exercise preferential rights on Odebrecht stake

By Sabrina Valle and Gerson Freitas Jr

RIO DE JANEIRO
Petroleumworld 08 17 2018

 

How oil buyers are positioning for U.S. sanctions against Iran

Petroleum Economist

With fewer than three months to go, China signals it will resist U.S. measures while Europe appears to be cutting back

By Irene Garcia Perez

LONDON
Petroleumworld 08 16 2018

Odebrecht bribes in Colombia were three times larger than previously known


- Attorney general says graft total is at least $32.5 million.
- Three dozen indicted in Colombia probe of illicit scheme .

By Ezra Fieser

BOGOTA
Petroleumworld 08 16 2018

Mexico's struggling Pemex awaits new president's risky fix

Mural

-Pemex has $104 billion of debt, and loses money in refining.
-New spending plans have some analysts recalling ‘bad old days'

By Amy Stillman

MEXICO CITY
Petroleumworld 08 15 2018

IMO fuel rule change cuts demand for canadian oil

Tin Rue/Bloomberg

-IMO 2020 rules kick in just as pipeline bottleneck eases up.
-Canadian oil discount to triple versus historical norm: CERI.

By Robert Tuttle

CALGARY, Canada
Petroleumworld 08 15 2018

Regardless Lybia, Iran, S. Arabia, Venezuela, OPEC crude production up in July

Andrey Rudakov / Bloomberg

Group boosted monthly output by 41,000 barrels a day. Nigeria, Kuwait output rose as supply in Libya, Iran fell

By Dan Murtaugh

LONDON
Petroleumworld 08 14 2018

 

Mega oil and gas projects are back, despite $80 billion blowouts

Dado Galdieri/Bloomberg

Energy firms must maintain capital discipline: Wood Mackenzie. Cost blowouts lowered returns on projects to 12% from 19%.

By Dan Murtaugh

SINGAPORE
Petroleumworld 08 14 2018

U.S. court ruling on Cristallex on Citgo made PDVSA bonds tumble

eljojoto

District court says Crystallex can take shares of Citgo holder. That could create a rush from other creditors to lay claim

By Justin Villamil, Jef Feeley, and Tiffany Kary

MEXICO CITY/NEW YORK
Petroleumworld 08 13 2018

Argentina to let Albanesi, MSU Energy, IECSA, Roggio, and Grupo Techint named in graft probe bid on projects

Pablo E. Piovano/Bloomberg

Transport Minister Guillermo Dietrich. The miniser said contracts are to be honored, companies won't be blocked from bids. Argentina to delay project to connect Buenos Aires trains.

By Jorgelina Do Rosario and Carolina Millan

BUENOS AIRES
Petroleumworld 08 13 2018

 

Cut in Iran oil sales is forecasts by U.S. on 50%

Luke MacGregor/Bloomberg


Iran has exported about 2.2 million barrels/day over past year . U.S. poised to reimpose oil sanctions on Iran after Nov. 4.

By Nick Wadhams

WASHINGTON
Petroleumworld 08 10 2018

Europe serious on buying U.S. LNG


EC trade mission heads for Washington Aug. 20 to discuss LNG. Europe accounts for about 10 percent of total U.S. LNG exports -Video- BNEF Brief: China Flags 25 Percent Tariff on U.S. LNG

By Anna Shiryaevskaya and Naureen S Malik

LONDON/NEW YORK
Petroleumworld 08 10 2018

 

Trump is a winner so far over fastest growing oil market at Iran's risk


India's top refiner signs its first U.S. crude term tender. Indian Oil signs U.S. term tender as precursor to longer deal. -Play Video - Why Oil Futures Might Pop Higher in the Near Term

By Debjit Chakraborty

DELHI
Petroleumworld 08 09 2018

An end to hyperinflation in Venezuela, easy or hard?

ISTOCKPHOTO

Last month in Venezuela's capital city of Caracas, a cup of coffee would have set you back 2 million bolivars. That's up from only 2,300 bolivars 12 months ago, meaning the price of a cup of joe has jumped nearly 87,000 percent, according to Bloomberg's Café Con Leche Index. And you thought Starbucks was expensive -Frank Holmes/Forbes.

By Peter Coy and Patricia Laya

NEW YORK/CARACAS
Petroleumworld 08 09 2018

 

 

Trump's sanctions on Iran are tough and carry so much force, why?



Iran to Feel Pain of Sanctions Says Analyst Sen. -Video -

By Bill Faries

WASHINGTON
Petroleumworld 08 08 2018

Trading speculators rattle Shanghai Oil Future as prices break from world


Yuan contract slides Wednesday following jump to record high. WTI, Brent steady as supply risk weighed against demand threat.

By Bloomberg News

LONDON
Petroleumworld 08 08 2018

Saudis flow the U.S. with crude oil as Venezuela output falls


Tanker tracking data points to biggest flows since April 2017. Increase seen helping to replace lost supply from Venezuela

By Ellen Milligan

LONDON
Petroleumworld 08 07 2018

Saudi Arabia severing relations with Canada shows Crown Prince's assertiveness


Canada ties are suspended amid row on women's-rights activist. Saudis cite ‘blatant interference' in internal affairs. - Video- Saudi Arabia Cuts Canada Ties Over Activist

By Zaid Sabah and Glen Carey

WASHINGTON/RIYADH
Petroleumworld 08 07 2018

 

How buyers are positioning for U.S. - Iran's oil sanctions

Ali Mohammadi/Bloomberg

With three months to go, China signals it will resist U.S. measures while Europe appears to be cutting back

By Irene Garcia Perez

LONDON
Petroleumworld 08 06 2018

Lopez Obrador victory triggers record jump in Mexico consumer confidence

Optimism among consumers is at its highest since December 2007. Private industry is less keen as it waits for government cues. - Video - Mexico Is Investing Opportunity Under AMLO, Pelosky Says

By Daniela Guzman

MEXICO CITY
Petroleumworld 08 06 2018

China refuse U.S. request to cut Iran oil imports

shuttersock

Blow to Trump efforts to isolate Tehran over weapons program. Beijing agreed to not accelerate crude purchases: officials. - Video- Three Things to Know About U.S. Reimposing Iran Sanctions

By Rachel Adams-Heard and Nick Wadhams

HOUSTON/WASHINGTON
Petroleumworld 08 03 2018

Trump moves to ease auto pollution standards, oil industry quietly cheers

unfoxnews

Change may boost oil usage 500,000 barrels/day by early 2030. Oil industry lobbies behind the scenes for efficiency proposal. - Video- Strait From The Source: Geopolitics And The Threat To Oil Supply

By Ari Natter and Jennifer A Dlouhy

WASHINGTON
Petroleumworld 08 03 2018

Russia output rise rolling back oil cuts as supply risks worsen

Bloomberg

Nation's production hit 11.215 million barrels per day in July. Output rose following OPEC+ agreement in June to lift supplies -Video-Oil Slides on Surprise Increase in U.S. Inventories

By Elena Mazleva

MOSCOW
Petroleumworld 08 02 2018

Russia raised its crude production to levels not seen since it joined OPEC in a coordinated output cut more than a year ago, helping the group offset supply disruptions elsewhere.

Venezuela's regime to end virtually free gasoline policy


Gas, utilities essentially free despite economic collapse. Three-hour blackout left much of Caracas in the dark Tuesday. - Video- Nicolas Maduro's Economic Storm

By Andrew Rosati

CARACAS
Petroleumworld 08 02 2018

Oil's winners, losers and investors mix reactions emerge as crude prices surge

Financial Times

Some are primed to profit from rising prices, others falter. Investors still jittery, but willing to back higher spending -Video- BP's Dudley on Divestment, Oil Prices, Investment

By James Herron and Rakteem Katakey

LONDON
Petroleumworld 08 01 2018

Mexico place $700 million oil bet to lock in the gains for next year

Susana Gonzalez/Bloomberg

Government doubled oil hedge spending compared to a year ago. Mexican officials requested quotes from banks starting in May.

By Daniela Guzman

MEXICO CITY
Petroleumworld 08 01 2018

 

Trump willing to meet Iran's Rouhani without precondition

Ali Mohammadi/Bloomberg

Hassan Rouhani. White House later appears to walk back president's statement. Trump statement follows all-caps Twitter warning last week. -Play Video- President Donald Trump Says He's Willing to Meet With Iran's Rouhani.

By Jennifer Jacobs and Toluse Olorunnipa

WASHINGTON
Petroleumworld 07 31 2018

Keystone XL's pipeline new path gets positive U.S. environment review

Bloomberg

Oil-sands pipeline has been under development for a decade. Nebraska-approved route seen having no significant effects.

By Rachel Adams-Heard and Kevin Orland

HOUSTON/CALGARY
Petroleumworld 07 31 2018

 

Mexico's Lopez obrador promises Pemex investment, names Octavio Romero Oropeza, new CEO

Susana Gonzalez/Bloomberg

Lopez Obrador says 175 billion pesos will go to energy sector. Pemex posts biggest loss since 2016 even as oil prices rise.

By Amy Stillman

MEXICO CITY
Petroleumworld 07 30 2018

Venezuela's president Nicolas Maduro main suspect in embezzlement probe as U.S. keeps pressure on

Wil Riera/Bloomberg

U.S., Swiss authorities investigate major embezzlement scheme. Efforts were made to launder $1 billion from oil company -Video -Maduro Suspect in U.S. Investigation: Miami Herald

By Laura Millan Lombrana

SANTIAGO
Petroleumworld 07 30 2018

 

BHP the world's biggest mining company is selling out to BP all U.S. shale assets


Bloomberg's David Stringer reports. Oil giant to pay $10.5 billion to add acreage in Permian, U.S. BP shares fall as analysts say the deal is better for BHP. -Video - BP agreed to buy most of BHP Billiton's onshore U.S. oil and natural gas assets.

By David Stringer and Kevin Crowley

MELBOURNE/HOUSTON
Petroleumworld 07 27 2018

Trump says Europe to buy tons of U.S. LNG. But Russia is a hard ball competitor

Lindsey Janies/Bloomberg

At least for now, Russian gas wins competition in Europe. Asia lures most of the global LNG as Europe prefers piped gas.

By Anna Shiryaevskaya, Elena Mazneva, and Mathew Carr

LONDON/MOSCOW
Petroleumworld 07 27 2018

 

Trump's war of words with Iran rise tensions on vital oil route

Source: Copernicus Sentinel 2017

Strait of Hormuz is a chokepoint for 30% of global oil exports. Gulf Arab states can ship some oil by pipeline if Hormuz shut - Video -U.S.-Iran Tensions Rise Amid Trump's War of Words With Rouhani

By Anthony Dipaola

DUBAI
Petroleumworld 07 25 2018

ExxonMobil's ‘ 4 billon barrels fairy tale' discovery in Guyana may be just the start

Christopher Gregory /NYT

The Noble Bob Douglas drill ship, right, 120 miles off Guyana.
8 of 10 wells have struck oil with 19 targets left: WoodMac. Oil major increased Guyana reserves 25% to 4 billion barrels.

By Kevin Crowley

HOUSTON
Petroleumworld 07 25 2018

 

Oil demand outlook murkier by emerging markets currencies distress

Daniel Acker/Bloomberg

Emerging-market currencies have slumped, making oil pricier. Stark choice between passing on pain or subsidizing consumers.

By Irene Garcia Perez, Prejula Prem, and Alex Longley

LONDON/ MUMBAI
Petroleumworld 07 24 2018

Being an emerging-market economy can be tough when oil prices surge and your currency crumbles.

Latin America looks beyond the U.S. market

Cris Faga/NurPhoto

As Trump rejects free trade, America's neighbors seek new partners.

By Shannon K O'Neil

NEW YORK
Petroleumworld 07 24 2018

Trump to Iran's Rouhani ‘Never, Ever Threaten' the U.S.

Yuri Gripas/Bloomberg

U.S. president Donald Trump takes tone he used against North Korea in 2017. Rouhani earlier made reference to ‘mother of all wars'

By Nick Wadhams

WASHINGTON
Petroleumworld 07 23 2018

Big oil opening natural gas spigots, fueling profit rise


BP Plc, Exxon Mobil Corp, Royal Dutch Shell Plc, Total SA and Chevron Corp have collectively increased natural gas output 15 percent in the past decade.

By Ernest Scheyder

HOUSTON
Petroleumworld 07 23 2018

Saudi Arabia in doubt if more oil it's needed to please Trump


Initial plans for record July crude output are dialed back. The kingdom says it won't oversupply the global market. -Play Video- Saudis Try to Stop the Oil Slide

By Grant Smith and Javier Blas

LONDON
Petroleumworld 07 20 2018

Oil's services companies looking overseas beyond shale boom

Halliburton

International growth is forecast to double by year's end. Baker Hughes, Schlumberger to kick off oil-servicer earnings. -Play Video - Big Oil Is Giving Out America's Fattest Paychecks

By David Wethe

HOUSTON
Petroleumworld 07 20 2018

 

Who's oil will never see the light? Perhaps OPEC

shutterstock

The cartel can no longer assume its untapped reserves will grow in value.

By Liam Deninng

LONDON
Petroleumworld 07 19 2018

Argentina's YPF to sell bonds ending two-month debt drought

Walter Morneo/Bloomberg

About $500 million seen in preliminary discussions with banks. State-controlled oil company sold a stake to GE in March

By Pablo Rosendo Gonzalez

BUENOS AIRES
Petroleumworld 07 19 2018

 

IEA says global economy's future is electric, but still dirty

Bloomberg Creative

Renewables investment fell 7% to $298 billion in 2017. Fossil fuels in energy mix rose for first time since 2014

By Anna Hirtenstein

LONDON
Petroleumworld 07 18 2018

Wildcatters head to Utah desert with a promise of longshot oil riches

Bloomberg

State promises tax break for oil sands and shale extractors. Petroteq, Enefit and Rose Petroleum gamble on fringe plays -Video - Shale Revolution: The Wildcatters Who Changed the World

By Catherine Traywick

DENVER, Colorado
Petroleumworld 07 18 2018

Oil's holds at $68 as possible stockpile drop counters supply boost

Bloomberg

U.S. inventories forecast to have fallen over 3m bbl last week. WTI crude futures fall after decreasing 4.2 percent Monday. -Video - Oil Trades Near 3-Week Low on Signs U.S., Saudis Boosting Supply

By Sharon Cho

SINGAPORE
Petroleumworld 07 17 2018

Mexico one country, two Presidents: Lopez Obrador is in no mood to wait his turn

ejecentral

Andres Manuel Lopez Obrador
. Landslide election winner won't take office until December. But he's already set to push new agenda on oil, trade, budget

By Nacha Cattan and Amy Stillman

MEXICO CITY
Petroleumworld 07 17 2018

Iran's OPEC governor urges Trump not to use U.S. strategic oil reserve

Ali Mohammadi/Bloomberg

U.S. looking at reserve as spare capacity insufficient: Iran. Trump should drop sanctions instead:Iran's OPEC governor

By Grant Smith

LONDON
Petroleumworld 07 16 2018

Start a (trade) war to bring down gasoline prices

Luke MacGregor/Bloomberg

Donald Trump has a way to reduce our oil consumption.

By Julian Lee

LONDON
Petroleumworld 07 16 2018

 

IEA says OPEC output may be stretched to limit by supply crises

OPEC supply competition growing most in five years


Output from group's competitors to expand by 2.1 million b/d. OPEC is pumping more than the daily average needed next year. - Video - OPEC Sees Rival Supply Growing Most in Five Years, Meeting 2019 Demand.

By Grant Smith

LONDON
Petroleumworld 07 12 2018

Trump's OPEC policy, prices tweets have Putin preparing for oil talks

Asia News Today

Russia sees Trump raising issue of oil supply, person says. Trump made series of tweets targeting OPEC policy, oil prices - Video - Crude plunged the most in two years. Bloomberg's Carlos Caminada reports.

By Ilya Arkhipov and Elena Mazneva

MOSCOW
Petroleumworld 07 12 2018

 

 

U.S. allies are imperiled of Iran oil even before America's deadline

Ali Mohammadi/Bloomberg

Sept.-loading Iranian cargoes may be last to head for Japan. U.S. has asked buyers to end Iranian oil purchases by Nov. 4 -Video- Oil Fell After Increase in U.S. Stockpiles

By Sharon Cho, Serene Cheong, and Tsuyoshi Inajima

SINGAPORE/TOKYO
Petroleumworld 07 10 2018

Natural Gas Industry producers are fighting for their lives

Tomohiro Ohsumi/Bloomberg

Natural gas producers feeling a competitive threat from wind. Companies from Shell to Equinor look to make gas cheaper, -Video- Big Oil Is Giving Out America's Fattest Paychecks

By Mathew Carr, Mikael Holter, Kevin Crowley, and Anna Shiryaevskaya

LONDON/OSLO/HOUSTON
Petroleumworld 07 10 2018

 

Oil, beans and steel: How U.S .- China trade wars will redraw global commerce

Qilai Shen/Bloomberg

Tariffs, sanctions already roiling biggest commodity markets. Projects in doubt as nations erect barriers.

By Isis Almeida, Joe Deaux, Alex Longley, and Dan Murtaugh

LONDON/NEW YORK/SINGAPORE
Petroleumworld 07 09 2018

Mexico aims to end foreign fuel imports in three years - next president

Daniel Becerril/Reuters

“The objective is that we stop buying foreign gasoline by the half way point of my six-year term,” said Lopez Obrador

By David Alire Garcia and Miguel Angel Gutierrez

MEXICO CITY

 

 

U.S.-Iran tensions rise over Strait of Hormuz oil route as EU tries to save nuclear deal

Source: Copernicus Sentinel 2017

Strait of Hormuz is a chokepoint for 30% of global oil exports. U.S. wants Iran's oil revenue to be zero: U.S. State official. - Bloomberg Video - Trump's War of Words With Iran Over Oil Continues

By Bozorgmehr Sharafedin

LONDON
Petroleumworld 07 06 2018

Mexico oil reform is set to stay - AMLO's chief of staff Alfonso Romo

Susana Gonzalez/Bloomberg

Romo seeks bank deregulation, more flexible pension investment. Lopez Obrador wants conciliation, not conflict, on airport.

By Nacha Cattan and Daniel Cancel

MEXICO CITY
Petroleumworld 07 06 2018

Trump continue with pressure on OPEC to boost supply as oil holds gains


U.S. inventories are said to have fallen 4.51 million barrels. President says group needs to do more to bring price down. - Video- Oil Market Sentiment Still Quite Bullish, Vanda Insights' Hari Says

By Kevin Orland

CALGARY
Petroleumworld 07 05 2018

Petrobras gets China's $14 billion bail out in refinery flop

Dado Galdieri

Petrobras's Comperj oil refinery Itaborai, Brazil. CNPC expands partnership to include graft-hit Comperj project. Petrobras and CNPC are already partners at offshore fields.

By Sabrina Valle

RIO DE JANEIRO
Petroleumworld 07 05 2018

Saudi Arabia and Russia reaffirm million-barrel oil boost under OPEC deal

Andrei Rudakov/ /Bloomberg

Energy ministers from both countries spoke by phone on Monday. Monitoring process should be modified to reflect new goal.

By Grant Smith

LONDON
Petroleumworld 07 04 2018

Trump asked top aides about invading Venezuela

Andrew Harrer/Bloomberg

The idea, despite his aides' best attempts to shoot it down, would nonetheless persist in the president's head.

By Joshua Goodman

BOGOTA
Petroleumworld 07 04 2018

Saudi Arabia weigh lure of higher oil prices as U.S. asks for more


State oil co. to decide official selling prices this week. Traders and analysts in Asia say pricing strategy uncertain. -Video - 'Wouldn't Rule Out' $100 Brent, Oil Analyst Sen Says

By Serene Cheong

SINGAPORE
Petroleumworld 07 03 2018

After AMLO wins big in Mexico, investors wait for new president words with caution

Bloomberg

Markets watching next government signals on economic policy; AMLO makes investors nervous. -Video - Bloomberg's Eric Martin reports on Mexico's election of its first left-wing president in decades.

By Aline Oyamada and Justin Villamil

MEXICO CITY
Petroleumworld 07 03 2018 s

Andres Manuel Lopez Obrador new president of Mexico, gets his chance after decades as fixture in country politics

Alfredo Estrella/AFP

Andres Manuel Lopez Obrador (AMLO), the new president of Mexico waves to supporters on July 1, 2018. 

Presidential front-runner has been leader for left since 2000. AMLO rails against graft, says his leadership can eliminate it.

By Eric Martin

MEXICO CITY
Petroleumworld 07 02 2018

Energy utilities and big oil are lining up for an electric vehicle war

Simon Dawson/Bloomberg

BP and Shell have bought electric-car charging companies. Power utilities are boosting sales to homes, chargers on roads.

By Kelly Gilblom and Anna Hirtenstein

LONDON
Petroleumworld 07 02 2018

 


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