Saudi Arabia is committed to sticking with the petroleum output freeze for the remainder of this year even if it means to “overbalance the market
Category: Oil
Turkey Stops Cypriot Drill Ship in East Mediterranean
Cyprus yesterday (11 February) accused Turkey’s military of obstructing the vessel “Saipem 12000” contracted by Italian oil firm Eni from getting closer to an area
California to Block Trump’s Costal Oil Drilling Plans
California is not going to allow transportation through its state of petroleum from new leases off the Pacific Coast. This decision is thought to attack
Exxon Capitalizes on US Tax Overhaul by Investing $50 Billion
Exxon Mobil announced on Monday (5 February) that it was planning to spend $50 billion in its business in the United States within the next
Powering Africa: Algeria Faces Dim Oil Production Prospects
Algeria is facing the surging bill of refined products, reaching almost $2.5 billion in 2017 up from 800 million in 2016 as a result of
Mexico Holds an Auction of Deep-Water Oil Drilling
Mexico is holding an auction of deep-water oil and gas fields at the end of this month in what is perhaps President Enrique Pena Nieto’s
Oil Markets’ Rebalancing Faster Thanks to Venezuelan Output Cut
Global oil markets are rebalancing fast following a falling supply from Venezuela, which has posted last year’s biggest unexpected production fall and could see further
Florida Given a Waiver from Trump’s Oil Off-Coast Drilling Push
The White House has given the US state of Florida an exception that it will not consider oil and gas drilling off the state’s coast,
Iranian Oil Tanker Collision Near Shanghai Leaves 32 Missing Amidst Environmental Havoc
The Sanchi tanker carrying 160,000 tons of Iranian oil collided with a Chinese freight ship, leaving all of its 32-member crewmember missing, the Chinese government
Geopolitics of Oil: Keeping the Secrecy of an Iran-Israel Pipeline
An Iran-Israel oil pipeline company established decades ago and a new Israeli firm that is about to replace it will be able to continue to