Author hkrichiedistribution

Oil Price Explosion – Brent Crude Jumps 20%

Traders have scrambled to calculate what the limit move in oil would be, after Saturday’s drone attack on the ‘’world’s most important oil processing plant’’. And moments ago, Brent crude reopened for trading, exploding almost 20% higher, its biggest jump in 28-years time. Bloomberg notes that this attack has resulted in the single-worst disruption in

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House Democrats Seek to Block Oil Drilling Along U.S. Coasts

The U.S. House of Representatives is set to vote Wednesday on two proposals for limiting drilling in U.S. coastal waters, including an effort to permanently ban rigs near Florida, as Democrats seek to demonstrate their opposition to fossil fuels and emphasize Republicans’ sustained support for oil. The measures also could highlight divisions in the Republican

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BP Deploys Continuous Methane Measurement for New Major Oil and Gas Projects

BP announced that it will deploy continuous measurement of methane emissions in its future BP-operated oil and gas processing projects as part of its program to detect, measure and reduce methane emissions. Continuous measurement, including instruments such as gas cloud imaging (GCI), will be rolled out to all new major projects worldwide. The technology has

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Venezuela’s Oil Woes Deepen as Chinese Contractor Halts Work

A Chinese oil contractor halted work on an expansion project in Venezuela because it hasn’t been paid, underscoring the difficulties for the Nicolas Maduro regime even at energy ventures backed by allies. China Huanqiu Contracting and Engineering Corporation, an affiliate of government-run China National Petroleum Corp., notified the Sinovensa joint venture it has suspended work

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