Yesterday (16 November), the United States A-10 warplanes and two AC-130 gunships for the first time hit trucks used by the Islamic State to smuggle
Category: Oil
US Admits Oil Output Will Go Down Next Year
The US government’s energy unit confirmed that the country’s oil production will plummet more than expected in 2016 after an unexpectedly strong performance this year.
Gulf Refiners Put Off Maintenance in Anticipation of Weak Crude Prices in 2016
Gulf oil refiners are postponing some field maintenance until 2016 to keep output high and to decrease costs as analysts predict that the prices will
Saudis Unsuccessful at Making Asia Want More Oil
Saudi Arabia did not manage to attract extra offers for oil shipments in October, a sign suggesting that the market is still oversupplied. The offers
Hungary Increases Kurdish Oil Imports at the Expense of Russia
In a struggle to diversify its energy portfolio, Hungary has increased its oil imports from the Kurdistan region in Iraq at the expense of Russian
US Oil Output Dramatically Decreasing
Experts in the oil industry warned yesterday of a dramatic fall in the US crude output that could make prices soar if demand goes up.
OPEC to Focus on Long-Term Mega Investment Projects
OPEC leaders privately admit that the US oil industry’s high-tech flexibility is a competitive advantage that will enable the country to respond quickly to the
Russia Seeks a Change in Taxation to Raise More Oil Revenue
Russia’s finance ministry has suggested that the calculation method for the mineral extraction tax for oil companies should be changed. The change should include also
Energy Firms Seizing the Opportunities Given by Crude Oversupply
Glencore Plc, a global integrated commodities producer and trader, has recently joined Vitol Group, the world’s largest independent oil trader, and hired tanks at the
U.S.-Mexico Crude Swaps Believed to Boost Economy and Environmental Protection
U.S.-Mexico crude oil exchanges that were approved in August by the U.S. Department of Commerce’s Bureau of Industry and Security will probably involve swaps of