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Oil News

Could Venezuela's debt crisis force regime change?

Caracas - Venezuela might look bad right now with protests, scarce food and fraught political tensions. But it could soon get a lot worse, according to analysts, because of a debt emergency raising the specter of default.

OPEC pumps more oil in July despite cut pledge: IEA

Paris - OPEC pumped more oil in July as global oil supplies rose for the third straight month, the IEA said Friday, giving figures that cast further doubt on the cartel's pledge to cut output to raise prices.

Petrobras profits plummet in second quarter

Rio De Janeiro - Brazil's troubled oil giant Petrobas on Thursday reported a 93 percent drop in profits in the second quarter of 2017 from the previous three months.Petrobras reported 316 million reais profits ($100 million), down from 4.4 billion in the first quarter....

Anger mounts in Hong Kong over massive palm oil spill

Hong Kong - Residents in Hong Kong desperately tried to clear the coastline of greasy lumps of palm oil Tuesday as it continues to wash ashore after a huge spillage at sea.

Hong Kong cleans up greasy beaches after palm oil spill

Hong Kong - A clean-up operation was under way in Hong Kong Monday after a massive palm oil spillage from a ship collision in mainland Chinese waters clogged some of its most popular beaches.

Hong Kong cleans up greasy beaches after palm oil spill

Hong Kong - A clean-up operation was under way in Hong Kong Monday after a massive palm oil spillage from a ship collision in mainland Chinese waters clogged some of its most popular beaches.

Repsol suspends oil project in disputed sea off Vietnam

Hanoi - Spanish oil giant Repsol said it has suspended a multi-million-dollar oil exploration project in an area of the South China Sea off Vietnam claimed by both Hanoi and Beijing, amid reports of a spike in tensions between the communist neighbours.

Boko Haram ambush death toll hits 69

Kano - At least 69 people died in a Boko Haram ambush of an oil exploration team in northeast Nigeria, as three men kidnapped by the jihadists made a video appeal.

Nigeria court orders forfeiture of ex-oil minister's luxury $37.5m property

Lagos - A Nigerian court has ordered the temporary forfeiture a $37.5 million property belonging to the country's ex-oil minister, with prosecutors alleging it was bought with ill-gotten funds.

US moves to seize $140 mn from Nigerian oil corruption

Lagos - US officials said Friday they plan to confiscate $144 million in corruption-tainted assets of Nigerian oil executives found in the United States including an $80 million yacht the "Galactica Star.

Tillerson declares his nostalgia for old oil life

Istanbul - US Secretary of State Rex Tillerson, the former chief executive of Exxon Mobil, expressed nostalgia for his former life as an oilman while picking up an industry award in Istanbul on Sunday.

Russian court frees two over fatal Total boss jet crash

Moscow - A Russian court on Friday freed on amnesty two men accused of causing the death of the head of French oil giant Total in 2014 when his jet crashed on takeoff from a Moscow airport.

Total to sign Iran gas deal, biggest since sanctions lifted

Tehran - French energy giant Total will finally sign its multi-billion-dollar agreement to develop an Iranian offshore gas field on Monday, the oil ministry said, in the biggest foreign deal since sanctions were eased last year.

Pakistan marks grim Eid after oil tanker inferno kills 153

Bahawalpur - Pakistan began Eid in mourning Monday as the death toll from an oil tanker explosion rose to 153, with scores more injured after they were caught in a fireball while scooping up spilt fuel.

139 dead, more than 100 injured in Pakistan oil tanker fire

Multan - An overturned oil tanker exploded in a huge fireball in Pakistan Sunday, killing at least 139 people and injuring scores as crowds scavenging for fuel ignored warnings to stay clear, officials and witnesses said.

123 dead, more than 100 wounded in Pakistan oil tanker fire: official

Islamabad - At least 123 people were killed and scores injured in a fire that broke out after an oil tanker overturned in central Pakistan early Sunday and crowds rushed to collect fuel, an official said.

Coconut oil 'as unhealthy as beef fat'

Washington - Health fads come and health fads go. One of the current 'health' interests is with coconuts, as coconut 'milk'; eating slices of the nut itself; or using coconut derived oil. Often branded as 'healthy', a new study suggests the opposite is true.

Weapons found after shots fired in oil field: Saudi

Riyadh - Saudi Arabia said on Monday it had seized weapons from a boat captured after shots were fired by security forces near an oil platform in the Arabian Gulf, at a time of tension with Iran and Qatar.

In Mexico's 'Red Triangle,' stealing oil a way of life

Tepeaca - Standing in the middle of lettuce and onion fields that reek of gasoline, the farmers pause from their work to watch an army convoy drive by.Gripping their machine guns, the soldiers return the farmers' wary gaze.

Cuba drills for own oil as Venezuelan flow falters

Varadero - Near the Cuban seaside village of Boca de Camarioca, a giant drill runs into the ground and out to sea, probing for oil.

Shareholders vote for ExxonMobil transparency on climate impact

New York - ExxonMobil's shareholders voted Wednesday to push the oil giant to test how the fight against global warming could affect its business, handing a victory to environmentalists at a critical juncture for climate policy worldwide.

Putin talks Syria, oil with powerful Saudi prince

Moscow - Russian President Vladimir Putin on Tuesday discussed cooperation on oil and the conflict in Syria with powerful Saudi Deputy Crown Prince Mohammed bin Salman at a meeting in the Kremlin.

OPEC oil squeeze to remain, but will it lift prices?

Vienna - Oil producers within and outside OPEC are expected Thursday to extend a deal cutting output aimed at lifting the price of crude, but US rivals could spoil the party.

Haiti announces fuel price increases to help public finances

Port-au-prince - Haiti's government announced on Sunday fuel price increases of up to 20 percent in an effort to shore up the country's disastrous public finances.

EBRD sees oil price rebound boosting economic growth

Nicosia - Europe's development bank predicted Wednesday a pick-up in economic growth this year in most of the regions where it operates as rebounding oil prices boost Russia and other commodity exporters.

Two former executives of Brazil's Petrobras arrested

S - Two former high-level executives of the Brazilian state oil company Petrobras were arrested in connection with a sweeping corruption investigation dubbed "Operation Car Wash," prosecutors said Thursday.

Four soldiers, six fuel thieves dead in Mexico clashes: officials

Puebla - Armed exchanges between troops and suspected fuel thieves in central Mexico have left 10 people dead, including four soldiers, authorities said Thursday.

At least six killed in S. Korea crane accident

Seoul - At least six Samsung workers building a $500 million ocean platform for French energy giant Total were killed in a shipyard crane accident, South Korean authorities said Tuesday.

US Supreme Court hands Venezuela a win on expropriations

Washington - Crisis-ridden Venezuela received a bit of good news Monday when the US Supreme Court ruled against an American oil firm whose equipment was expropriated under late president Hugo Chavez.

Libya seizes oil tankers and crew after shootout at sea

Tripoli - Libya has seized two foreign-flagged oil tankers and detained their crews for allegedly smuggling fuel after an hours-long gunbattle off the west coast, authorities said.
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Dry sand from tarsands production.
Dry sand from tarsands production.
An oil refinery in Long Beach  CA
An oil refinery in Long Beach, CA
Neil Armstrong2
Francis Bacon  Second Version of Triptych   1944 / 1988. Oil and alkyds on canvas. Each panel 198 x ...
Francis Bacon, Second Version of Triptych, 1944 / 1988. Oil and alkyds on canvas. Each panel 198 x 147.5 cm (each panel), Tate Modern, London. © Estate of Francis Bacon / SODRAC (2013)
© Estate of Francis Bacon / SODRAC (2013)
Untitled
YouTube screen capture
Tailings pond.
Tailings pond.
An oil tanker
Oil tanker
Photo by Zero
A scene from a documentary shot in Kamloops  British Columbia  showing life on a cattle ranch.
A scene from a documentary shot in Kamloops, British Columbia, showing life on a cattle ranch.
screen grab
LOCATION; Photo/Graphic shows approximate location of the May 19th oil spill from the Plains All Ame...
LOCATION; Photo/Graphic shows approximate location of the May 19th oil spill from the Plains All American Pipeline near Refugio Beach in Santa Barbara, Calif.
Jwncv - Santa Barbara, California/Wikimedia Commons
Untitled
Josh Smith
Dry sand from a tailing pond  water is used to remove the oil from the sand. The water and sand whic...
Dry sand from a tailing pond, water is used to remove the oil from the sand. The water and sand which is left over is moved to holding ponds.
Protesters opposed to the proposed Keystone XL demonstrate outside the White House in 2011.
Protesters opposed to the proposed Keystone XL demonstrate outside the White House in 2011.
Chesapeakeclimate/Wikimedia Commons
Manatee s seen in Kings Bay
Manatee's seen in Kings Bay
Untitled
ConocoPhillips
Untitled
DigitalJournal.com, File photo
Oil pump in Russia
Oil pump in Russia
Yukon White Light
Drawing shows how sound from the seabed is bounced back to hydrophone.
Drawing shows how sound from the seabed is bounced back to hydrophone.
NMANewsDirect
A rig in the gulf where an explosion occurred on April 20  2010.
A rig in the gulf where an explosion occurred on April 20, 2010.
KK+
Swan Hill: Oil and Gas Industry
Swan Hill: Oil and Gas Industry
File photo: AlbertaFirst.com
DISASTER: Boats equipped with water cannons fight the devastating fire at the Deepwater Horizon dril...
DISASTER: Boats equipped with water cannons fight the devastating fire at the Deepwater Horizon drilling platform in the Gulf of Mexico in 2010.
U.S. Coast Guard/Wikimedia Commons
N-Delta Crisis: we won’t allow Buhari export crude oil —AVENGERS.
N-Delta Crisis: we won’t allow Buhari export crude oil —AVENGERS.
The Vanguard

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