India Taking Up The Slack as China Cancels Oil Deliveries

Distressed oil supplies are being offered to India as the spread of the coronavirus crimps fuel consumption across China, prompting requests for cargo deferrals and cancellations by Asia’s no. 1 importer. State-owned Bharat Petroleum Corp Ltd. received offers for supplies of crude from the Caspian Sea and South America for March loading, said R. Ramachandran,

Continue Reading →

Nigeria Promises High Returns To Foreign Oil Investors

Nigeria assured foreign oil investors on Monday that the African OPEC producer is open to business and can guarantee high returns on investment, the country’s President Muhammadu Buhari told an energy conference. “Let me assure our foreign investors that your investments in Nigeria are very much secured and this can’t be better anywhere else,” the

Continue Reading →

Cost of Trudeau’s Pipeline Wager Balloons 70% to $9.5 billion

The cost to build Justin Trudeau’s pet oil-pipeline project just got a few billion dollars more expensive. The price tag for the Trans Mountain expansion has increased 70% to C$12.6 billion ($9.5 billion) because of legal delays and accommodations made to indigenous communities along its route, the pipeline’s operator said Friday in an emailed statement.

Continue Reading →

Texas Energy Regulator Prepares First-of-its-kind Report on Flaring Trends

A Republican defending his seat on Texas’s all-powerful energy regulator is preparing a first-of-its-kind report on natural gas flaring, a practice that’s come under fire from environmental groups and even some producers. The report will showcase flaring trends, its proportion to surging oil production and potentially a list of the best and worst operators, said

Continue Reading →

Trump Proposes Selling Oil From Strategic Reserve to Fund Budget Plan

President Donald Trump has proposed selling 15 million barrels of oil from the U.S. emergency stockpile as part of his fiscal 2021 budget plan. The proposal, which requires approval from Congress, would use the proceeds of the sale to fund certain Energy Department activities, including the environmental remediation of an oil field in Elk Hills,

Continue Reading →

← Previous Page