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Russia's Novak to Meet with U.S. Counterpart Perry

Sep 10, 2018

Russia's energy minister Alexander Novak will meet with his U.S. counterpart Rick Perry on Thursday to discuss the situation on global oil and gas markets, Russia's Energy Ministry said in a statement on Monday.Novak and Perry will also discuss…

Mexico's Obrador Pledges More Than $11 Bln for Refineries

Aug 14, 2018

Mexican President-elect Andres Manuel Lopez Obrador said on Monday his administration will invest more than $11 billion to boost refining capacity in order to curb growing fuel imports.Lopez Obrador, who will take office on Dec. 1, told reporters his government plans to invest $2…

Gulf of Mexico Lease Sale to Test Response to Trump-era Regulations

Aug 10, 2018

A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them…

Saudi Arabia Halts Red Sea Oil Exports after Tanker Attacks

Jul 26, 2018

Saudi Arabia said on Thursday it was suspending oil shipments through a strategic Red Sea lane after Yemen's Iran-aligned rebels attacked two tankers in the waterway, underscoring the risk of an escalation in tensions in the region.Brent crude futures rose 59 cents to $74…

Oil Majors Win Dismissal of New York City Climate Lawsuit

Jul 20, 2018

A U.S. judge on Thursday dismissed a lawsuit by New York City seeking to hold major oil companies liable for climate change caused by carbon emissions from burning fossil fuels.In dismissing the city's claims against Chevron Corp , BP Plc, ConocoPhillips…

Key Oil Export Terminals Reopen in Libya

Jul 11, 2018

Tripoli-based National Oil Corp (NOC) said on Wednesday four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of Libya's oil output.Production and export operations would be restored 'within the next few hours'…

Oil Nears 3-1/2-year High on Middle East Sabre Rattling

Jul 05, 2018

OPEC supply cuts since 2017 have tightened market; oil has also risen on U.S. sanctions threat against Iran. Oil traded near its highest in 3-1/2 years on Thursday, boosted by potential disruptions to flows from Iran and the Middle East despite a fresh demand from U…

Venezuela's Creditors Call for Unity

Jun 25, 2018

A group of institutional investors holding roughly 13 percent of Venezuela's foreign debt said on Monday it will not back any restructuring plan that does not imply equal treatment for all creditors. The government of President Nicolas Maduro has halted almost all foreign debt payments…

PDVSA Raises Prospect of Force Majeure on Oil Exports

Jun 06, 2018

OPEC member Venezuela has raised the prospect of declaring force majeure on contracts with major crude buyers amid plummeting output from its oil fields and tanker bottlenecks at ports, according to three sources familiar with the matter.Falling…

New Rules on Ship Emissions Herald Sea Change for Oil Market

May 17, 2018

New rules coming into force from 2020 to curb pollution produced by the world's ships are worrying everyone from OPEC oil producers to bunker fuel sellers and shipping companies.The regulations will slash emissions of sulfur, which is blamed…

US Military Seeks Rules for Drilling in Gulf of Mexico

May 11, 2018

An expansion of oil drilling in the eastern Gulf of Mexico would interfere with U.S. military testing unless the Pentagon and another agency develop rules to govern the work, the U.S. Department of Defense said in a report this week.The Defense…

Firms Complain of Contaminated Crude Lifted From U.S. SPR

Mar 29, 2018

Three firms that bought crude oil last year from U.S. emergency stockpiles raised concerns about dangerous levels of a poisonous chemical in the cargoes, according to internal Energy Department emails and shipping documents reviewed by Reuters…

Saudi Aramco: IPO Work to be Completed in H2

Mar 08, 2018

Saudi Aramco Chief Executive Officer Amin Nasser said on Thursday that all work required from the oil giant for its initial public offering (IPO), which could be the biggest in history, will be completed in the second half of 2018. Speaking at a conference in London…

Wyoming, Utah Mull Funding Legal Challenges to West Coast Coal Policies

Feb 13, 2018

Lawmakers in coal-producing Utah and Wyoming, faced by a shrinking market for the fuel, this week introduced laws to fund legal challenges in California and Washington of policies that they believe hurt coal sales. A Utah lawmaker on Monday…

BP to Invest $1 Bln in Egypt This Year

Feb 12, 2018

BP is looking to invest over $1 billion in Egypt this year, making the country once again a top destination for investment, its CEO said on Monday.Speaking at an industry event in Egypt, Bob Dudley said the company was no longer owed any money by the Egyptian government…

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