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Oil News

Turkey says it will start drilling off Cyprus 'in coming days'

Istanbul - Two Turkish ships will begin drilling in search of oil and gas off Cyprus "in the coming days", Turkey's foreign minister said Thursday, in a move likely to stoke tensions on the divided island.

Cuba eyes Qatar, Algeria for oil with Venezuela in crisis

Havana - With top ally Venezuela in crisis, Cuba is moving to cover its oil needs elsewhere, seeking possible alternative supplies in Qatar and Algeria, officials said Monday.

Tunisian workers kidnapped in Libya

Tunis - Militiamen have kidnapped a group of Tunisian workers near the Libyan capital Tripoli, demanding Tunis release a comrade, the foreign ministry and a rights activist said."The foreign ministry is following the case of the Tunisian citizens...

Global energy demand to soar one third by 2040: BP

London - Global energy demand will surge by a third over the next two decades on advancing prosperity, but Indian demand growth will eclipse that of flagging giant China, Britain's BP forecast Thursday.

Twitter trolls sought to sow Canada divisions on pipelines, migrants

Ottawa - Canada's public broadcaster said Tuesday it found in a trove of Twitter messages evidence of possible foreign actors trying to sow divisions between Canadians on pipelines, migrants and other hot-button issues.

UAE expects oil market to balance in first quarter

Dubai - The energy minister of the United Arab Emirates said Monday supply and demand in the oil market should balance out in the first quarter of 2019, following weeks of output cuts.

Keystone pipeline in major oil leak

Part of the Keystone pipeline were shut due to a leak of oil in Missouri, with some 6,814 liters released into the environment. Enbridge Inc.'s Platte pipeline was also closed temporarily as a precaution.

Libya strongman's force says seizes major southern oilfield

Benghazi - A force led by Libyan military strongman Khalifa Haftar, engaged in an offensive in southern Libya, said late Wednesday it had seized one of the country's biggest oil fields without a fight.

EU backs Iran trading system but warns on Syria, missiles

Apo - The EU warned Tehran over its ballistic missile programme and interference in the Syria conflict Monday, while welcoming a new mechanism to trade with Iran while bypassing US sanctions.

Canada paid a high price for oil pipeline: budget watchdog

Ottawa - A watchdog said Thursday Canadian Prime Minister Justin Trudeau paid more than he needed to for a controversial oil pipeline to the Pacific -- which could come back to haunt him in October elections.

Europe launches sanctions-busting Iran payment vehicle

Bucharest - Britain, France and Germany on Thursday launched a trade mechanism to bypass US sanctions on Iran, drawing praise from Tehran -- and a warning from Washington.

Venezuelans fear fuel shortages after US oil sanctions

Caracas - United States sanctions aimed at pressuring Nicolas Maduro to capitulate in his power struggle with self-proclaimed acting-president Juan Guaido have Venezuelans fearing they may be left facing fuel shortages.

Citgo, the last gem of Venezuela's collapsed oil sector

Washington - US sanctions imposed against Venezuela this week have cut off the final "gemstone" of the country's collapsed oil sector.

Abu Dhabi awards Eni, OMV key stakes in oil refiner

Abu Dhabi - Abu Dhabi's state oil firm said Sunday it had signed partnership deals worth $5.8 billion with Italian oil giant Eni and Austria's OMV, awarding them key stakes in its refining arm.

IMF lowers growth forecast for Saudi Arabia, region

Dubai - The International Monetary Fund on Monday lowered its 2019 economic growth forecast for Saudi Arabia and the region over low oil prices and crude output along with rising geopolitical tensions.

Fuel pipeline blaze in Mexico kills 20, injures dozens: officials

Mexico - A leaking fuel pipeline triggered a massive blaze in central Mexico Saturday, killing at least 20 people and injuring another 54, officials said.

Saudi urges 'fair' energy transition, defends oil

Abu Dhabi - Top oil exporter Saudi Arabia called Tuesday for a "fair" and gradual global energy transition as it unveiled an ambitious domestic renewable energy programme.

Three Pemex execs to be tried for fuel theft in Mexico

Mexico - Mexico's attorney general said Monday that three top officials at state oil company Pemex will face trial for fuel theft, insisting a controversial government crackdown that has caused gasoline shortages is paying off.

Zimbabwe police clash with protesters at fuel rise protests

Harare - Police fired teargas as angry protesters barricaded roads with burning tyres and rocks in Zimbabwe on Monday, after the government more than doubled the price of fuel over the weekend.

Sharp fuel hike sparks protests in Zimbabwe

Harare - Angry protesters barricaded roads with burning tyres and rocks in Zimbabwe on Monday after the government more than doubled the price of fuel in a bid to improve supplies as the country battles its worst gasoline shortages in a decade.

Fuel hike sparks protests in Zimbabwe

Harare - Commuters were stranded in Zimbabwe’s two main cities Monday as angry protesters reacting to the weekend more than doubling of fuel prices, burned tyres and used rocks to barricade roads and blocked buses from carrying passengers.

Saudi Arabia vows to slash oil exports after price slide

Apo - OPEC kingpin Saudi Arabia said Wednesday it would slash its oil exports by 800,000 barrels per day in January and promised further cuts as producers move to shore up tumbling prices.

Saudi to slash oil exports after price slide: minister

Apo - OPEC kingpin Saudi Arabia will slash its oil exports in January by 10 percent compared to November, its energy minister said Wednesday as producers move to shore up tumbling prices.

Mexico probes state oil company's ex-security chief for fuel theft

Mexico - Mexican President Andres Manuel Lopez Obrador, who is waging a major crack-down on fuel theft, announced Tuesday an investigation into the former security chief of state oil company Pemex.

One dead, two missing after oil tanker blaze off Hong Kong

Fpo - One man was killed and two others declared missing after an oil tanker caught fire while it was being refuelled off Hong Kong on Tuesday, sending a huge cloud of dark smoke billowing into the air.

One dead in oil tanker blaze off Hong Kong

Fpo - At least one person has died after an oil tanker caught fire off Hong Kong on Tuesday, police said, sending a huge cloud of dark smoke billowing into the air.

French oil company to invest $400m in Venezuelan field

Caracas - French oil company Maurel & Prom will invest $400 million in an oil field in Venezuela, whose production is in free fall, President Nicolas Maduro said on Monday.

New Petrobras boss seeks free-market 'efficiency' for oil giant

Rio De Janeiro - The new boss of Brazilian state-owned oil giant Petrobras said Thursday that he wanted to draw a line under the company's graft-mired past and offer "a new dawn.

Oil market likely to rebalance early 2019: OPEC ministers

Kuwait City - Oil ministers from leading OPEC nations said Sunday they expect prices will arrest their recent slide and rebalance early next year, when a deal on new production cuts takes effect.

Oil giant Total fined in France for Iran corruption

Paris - A French court on Friday fined oil giant Total 500,000 euros ($575,000) for corruption over bribes it paid to secure a huge gas concession in Iran in 1997.
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Prices as of January 2  2018 at 1:41 p.m.
Prices as of January 2, 2018 at 1:41 p.m.
NASDEQ
Public understanding of the difference between Beach advisory and beach closure can make the differe...
Public understanding of the difference between Beach advisory and beach closure can make the difference of whether beach rentals stay in business or fold.
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
Crude Oil Tanker
Crude Oil Tanker
US Federal Govt
The TransAlaska Pipeline carries oil from Prudhoe Bay on the North Slope to Valdez  Alaska.
The TransAlaska Pipeline carries oil from Prudhoe Bay on the North Slope to Valdez, Alaska.
Ryan McFarland from Petersburg, AK
A tailing pond.
A tailing pond.
An oil tanker
Oil tanker
Photo by Zero
Untitled
DigitalJournal.com, File photo
HOUSTON: Corporate headquarters for oil services industry giant Halliburton  which was headed before...
HOUSTON: Corporate headquarters for oil services industry giant Halliburton, which was headed before 2000 by former U.S. Vice President Dick Cheney.
WhisperTo / Wikimedia
Dry sand from tarsands production.
Dry sand from tarsands production.
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
An oil refinery in Long Beach  CA
An oil refinery in Long Beach, CA
File photo Neil Kremer/Flickr
Protesters in Rio de Janeiro over oil royalties.
Protesters in Rio de Janeiro over oil royalties.
YouTube
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.
Using a process called hydraulic fracturing or  fracking   toxic chemicals and methane gas seep into...
Using a process called hydraulic fracturing or "fracking," toxic chemicals and methane gas seep into our drinking water.
Link TV
Members of the Naval Air Station Pensacola Pollution Response unit set oil containment boom at Sherm...
Members of the Naval Air Station Pensacola Pollution Response unit set oil containment boom at Sherman Cove aboard the base to protect environmentally sensitive grass beds from the Deepwater Horizon oil spill.
by uscgd8
Kurdistan Region - Iraq
Kurdistan Region - Iraq
Adam Jones, Ph.D.
Untitled
Ken Lund
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
Fuel barrels
Fuel barrels
Trevor MacInnis

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