Energy-exporting countries, which have put away billions of dollars in sovereign investment funds, may now be forced to draw on their “savings” as oil revenue
Category: Oil
American Oil Exports to Asia Halt amidst Mideast Competition
United States’ exports to Asia begin to stall as Mideast Gulf oil producers hurry to protect their market share amidst the lowest prices in five
China’s Oil Reserves Higher than Officially Declared
China is expected to be holding a higher amount of crude than what is stated in its official plan. Its strategic reserves are estimated to
OPEC Starts Talking Oversupply
On Friday (21 November) OPEC’s Economic Commission Board concluded a two-day meeting in Vienna before the group of oil ministers meets on Thursday (27 November)
Libya’s Major Oilfield Remains Shut Down
Libya’s El Sharara oilfield, one of the OPEC’s biggest ones producing about 200,000 barrels per day remains closed down. The closed field is a result
OPEC Not United in Further Steps to Address Plummeting Prices
Saudi Arabia’s Oil Minister Ali al-Naimi’s comments on the situation in international energy markets from the beginning of this month have left OPEC countries wondering
BHP to Be the First to Sell U.S. Oil without Washington’s Consent
BHP Billiton Ltd, the Anglo-Australian mining company, is going to become the first firm to export lightly processed ultra-light oil from the United States without
U.S. Secretary Promised to Make a Quick Decision on Keystone XL
U.S. Secretary of State John Kerry promised on Tuesday (28 October) during his official visit to Canada to make a decision soon on Keystone XL
Iraq’s Kurds Increase Capacity of Oil Pipelines
Iraqi Kurds are planning to boost the capacity of oil pipelines via Turkey to 700,000 barrels (bpd) per day. The boost could thus increase the
Saudi Arabia Supplies Less Crude to World Markets
Saudi Arabia, the world’s biggest oil producer, supplied less oil in September than in August despite higher output. The global oil markets are impatiently waiting