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Petroleumworld Top Headlines
Stories are not allways available on the Petroleumworld site after 90 days.

Top Headlines 2016

 

Top Headlines 2017 January/June

 

Top Headlines 2017

 

Fund wants to protect Norway's economy from oil price risk. Government says will conclude assessment in ‘fall of 2018' - Watch video - Norway's Wealth Fund Proposes Oil, Gas Stock Exit

By
Sveinung Sleire

OSLO
Petroleumworld 11 17 17
 

Mexico to atract investment ending gasoline price controls

Energy regulatory commission voted Thursday on price policy. Measure brings price liberalization forward by a month

By
Amy Stillman

MEXICO CITY
Petroleumworld 11 17 17

 

Oil markets to dominated by U.S. after biggest boom in history


IEA's Birol says U.S. will lead oil industry by 2025. U.S. expansion to beat Saudi oil growth, Soviet Union's gas. Lower crude prices will help buoy global demand, agency say -Watch video

By Grant Smith

LONDON
Petroleumworld 11 16 17

Petrobras needs to deliver as presidential elections close in

Dado Galdieri/Bloomberg

Petrobras chief rushing to deliver as election season nears. Looks to sign $21 billion in asset sales through June 2018. Revision of offshore contract could deliver up to $30 billion

By Sabrina Valle and Peter Millard

RIO DE JANEIRO
Petroleumworld 11 16 17

Equilibrio petrolero amenazado por clima cálido y producción fuera de OPEP


Clima cálido y aumento de producción fuera de la OPEP amenaza equilibrio del mercado petrolero

Por Amanda Cooper

LONDRES
Petroleumworld.com 15 11 2017

Rosneft golpeada por deuda venezolana pese a repunte de ganancias

Reuters/Maxim Shemetov

S&P Global Ratings declaró a Venezuela en default selectivo después de que el país no pagó 200 millones de dólares por el cupón de sus bonos 2019 y 2024 dentro del período de gracia de 30 días.

Por Vladimir Soldatkin y Oksana Kobzeva

MOSCÚ
Petroleumworld.com 15 11 2017

Big oil on the move for Texas oil at New Mexico prices

Exxon, Chevron take advantage of cheap back door to shale play . State's ‘next wave' promise draws $13 billion in investments. -Watch video: Everything You Need to Understand Fracking

By David Wethe

HOUSTON
Petroleumworld 11 15 17

Oil producers discouraged by the rising cost of accessing the vast deposits of the Permian Basin in Texas are sneaking into a geological back door, through neighboring New Mexico.

Chile's elections: Former President Sebastian Pinera ahead on polls

Chileans go to the polls in presidential elections on Nov. 19. Former President Sebastian Pinera is ahead in opinion surveys

By
Philip Sanders and Javiera Quiroga

SANTIAGO
Petroleumworld 11 15 17

Saudi Arabia retreat from U.S. oil market cuts exports to 30-year low

In Push to drain crude stocks, Riyadh concentrates on America. Iraq and Canada take market share in the U.S. from the Saudis

By Javier Blas

LONDON
Petroleumworld 11 14 17

Venezuela default declared by S&P, 30 minutes meeting with creditors didn't produce substance

Noah Friedman-Rudovsky

Grace period expired on $200 million of interest payments. State oil company had already defaulted, Moody's and Fitch say. - Watch video: Why Venezuela is getting increasingly desperate.

By Ben Bartenstein, Katia Porzecanski, and Patricia Laya

NEW YORK/CARACAS
Petroleumworld 11 14 17

Hedge funds on a record level bullish on oil as Mideast tension heats up


Money managers boost Brent crude long positions to record. Short-sellers take positions to lowest in over eight months


By
Jessica Summers

NEW YORK
Petroleumworld 11 13 17

Ethanol the source of biofuels trouble between U.S. and Brazil

Daniel Acker/Bloomberg

U.S. producers object to 20% import tariffs imposed by Brazil. Protest comes month after Trump intervened to support industry


By
Mario Parker and Fabiana Batista

CHICAGO/SAO PAULO
Petroleumworld 11 13 17

Global oil majors eyeing Mexico's deep waters fields as crude price raises

Susana Gonzalez/Bloomberg

In the country's first-ever deep water oil auction last year, eight of the 10 blocks auctioned were won by international crude majors.

By Adam Williams

MEXICO CITY
Petroleumworld 11 09 017

Venezuela and Trinidad & Tobago ahead with Gas connection between the two countries

PDVSA

Douglas Sosa, Deputy minister for Gas of Venezuela. The project is been executed by Shell, NGC and PDVSA.

By
Elio Ohep

CARACAS
Petroleumworld 11 09 17

U.S. move refining capacity to satisfy Mexico's fuel needs

Oil inputs seen 1.8 percent higher at year-end: Energy Aspects. Gulf Coast refiners seen favoring export over domestic sales.

By
Laura Blewitt

HOUSTON
Petroleumworld 11 09 017

PDVSA misses debt payments, used Russian bank to pay ONGC

International banks and suppliers have reduced or halted credit to PDVSA since cash flow problems led the firm to start delaying payments to creditors in 2014.

NEW DELHI
Petroleumworld 11 08 017

Argentina would contest U.S. biodiesel tariffs with WTO - President Macri

Reuters/Stephanie Keith

Argentina has been trying to settle the trade dispute by negotiating a minimum price for its exports, but no deal has yet been reached.



By
Christian Plumb

UNITED NATIONS
Petroleumworld 11 08 017

PDVSA credit rating down to C by Fitch, default "highly probable", drilling drought

Venezuela's rig count Is at a 14-year low. The number of active oil rigs in Venezuela is heading for a second annual decline, Baker Hughes Inc. data published Tuesday showed.- Lucia Kassai

By
Daniela Guzman

NEW YORK
Petroleumworld 11 07 017

U.S. Shale will grow even faster than they previously thought - OPEC

Matthew Busch/Bloomberg

G
roup raises forecast for shale oil output in annual report. Shale producers show ‘resilience and ability to bounce back'


By
Angelina Rascouet

LONDON
Petroleumworld 11 07 17

U.S. Treasury sanctioned "Drug Kingpin" El Alssami running Venezuela's bond negotiations

Financiers must decide whether to meet sanctioned El Aissami. Vice president faces accusations of smuggling and repression - Watch video

By
Patricia Laya and Andrew Rosati

WASHINGTON/CARACAS
Petroleumworld 11 07 17

 

OPEC is set on $70 oil

TRIMMING THE FORECAST

Jan-17 / Jun-17 / Oct-17 / Actual

Dec 18: 10.3 miillions bpd/ 10.2 millions bpd / 9.4 millions bpd

EIA forecast of U.S. oil production has been trimmed sice June, but remains robust


By
Julian Lee

LONDON
Petroleumworld 11 06 017

Venezuela oil too important for China and Russia to let it fail

Tal Cual

As U.S. ties fray, Asian powers invest more than $60 billion.
Shipments to China, Russia more than double this year

By
Alex Nussbaum and Lucia Kassai

NEW YORK/HOUSTON
Petroleumworld 11 06 017

P.R. Governor Rossello calls on Trump for help, Puerto Ricans just want power back

The island will gladly take oil power over solar if it turns the lights back on. -Watch video


By Jonathan Levin, Naureen S Malik, and Emma Ockerman

MIAMI/NEW YORK
Petroleumworld 11 03 017

U.S. to reject anti-corruption effort aimed at oil payments

Arnold & Porter

U.S. to exit global anti-corruption effort aimed at oil cash. Oil, mining companies pledged to disclose overseas payments. U.S. joins Azerbaijan in rejecting anti-corruption initiative.

By Jennifer A Dlouhy

WASHINGTON
Petroleumworld 11 03 017

Norway explorers neglect North Sea, exploration activity declines to 11-year low


Infrastructure risks being shut down without fresh resources

By Mikael Holter

OSLO
Petroleumworld 11 02 017

New U.S. sanctions to Russia may affect russian oil & gas companies foreign expansion

Sergei Karpukhin/Reuters

Analysts say sanctions mainly aimed at potential projects. U.S. sanctions have not yet impeded Russian oil production. Rosneft has reportedly suspended an oil project in the Black Sea due to western sanctions.

By Vladimir Soldatkin and Oksana Kobzeva

MOSCOW
Petroleumworld 11 02 017

Mexico invested $1.25 billion on the world's biggest oil hedge


Mexico's Meade on Catastrophe Bonds and Oil Hedge. - Watch video

By Nacha Cattan

MEXICO CITY
Petroleumworld 11 01 2017

Venezuela bond holders haven't seen PDVSA due money in their accounts yet


Company said it made payment Oct. 27, sparking a bond rally. Bond holders are in the dark and haven't seen money in their accounts yet.

By Katia Porzecanski, Ben Bartenstein, and Christine Jenkins

NEW YORK
Petroleumworld 11 01 2017

Traders scramble as clock keeps ticking: PDVSA default watch

PDVSA says it's all paid up, but the bond market thinks otherwise

When PDVSA oil company blasted out a statement Friday about having begun to transfer $842 million to holders of its bonds due in 2020, the bonds rose on the expectation that come Monday, creditors would be receiving the funds in their accounts and that an even bigger payment due Nov. 2 would now surely be made despite more than $500 million worth of past-due interest payments continuing to pile up. Monday afternoon, the mood has become more somber with no sign of the funds, no word from the notes' trustee and no further communiques from PDVSA. - Daniel Cancel / Bloomberg. - Watch video

By Ben Bartenstein

NEW YORK
Petroleumworld 10 31 2017

PetroChina: The world's hidden gas giant - Bloomberg Gadfly

Jie Zhao / Getty

The trend away from oil has been accelerating in recent quarters.

By David Fickling

Sydney
Petroleumworld 10 31 2017

Lindsey Janies/Bloomberg

The liquefied natural gas tanker Asia Vision left Cheniere Energy's Sabine Pass export terminal in Louisiana. Texas gas drillers looking to build pipeline to west Mexico. Project could offer cheaper, faster route to Asia markets

By Ryan Collins and Lucia Kassai

HOUSTON
Petroleumworld 10 20 2017

In Port Arthur, Texas ‘Energy City' USA, Hurricane Harvey's fury is still lingering


Harvey Hits Heart of Texas Energy Industry. Gasoline has surged as oil platforms, pipelines and refineries were shut in Texas due to Tropical Storm Harvey. Bloomberg's Dan Murtaugh reports on "Bloomberg Markets: Asia." (Source: Bloomberg) -Watch video

By Laura Blewitt

HOUSTON
Petroleumworld 10 20 2017

 

Angola's is not the next Venezuela, says Sonangol CEO as it cuts debt


Sonangol chair Isabel dos Santos said her company was not on a similar track, adding that they had cut total company debts to $10 billion this year from $13 billion.

By Libby George and Karin Strohecker

LONDON
Petroleumworld 10 19 2017

Petrobras corruption catching up with workers retirement plan

Upstream

80,000 people could see pensions cut as much as 40% monthly. Petrobras Pension fund needs $8.7 billion to keep operating

By Sabrina Valle

RIO DE JANEIRO
Petroleumworld 10 19 2017

Venezuela inches closer to dictatorship, opposition boxed in


Shocking fraudulent wins for the government have it groping for a path. Protests failed. Sanctions failed. Voting failed. What's next?. - Watch video

By Andrew Rosati

CARACAS
Petroleumworld 10 18 2017

Chinese are about to do for global gas demand what they did for oil


Nation's demand seen surpassing U.S. level after 2040. Environmental concerns, economic growth drive push toward gas.

By Dan Murtaugh

SINGAPORE
Petroleumworld 10 18 2017

Gulf of Mexico LLOG Delta House FPS oil spill last week may be largest since 2010

LLOG Explortation Delta House floating production facility (FPS)in the Gulf of Mexico. LLOG reports as much as 9,350 barrels spilled last week. Release dwarfed by multimillion-barrel Deepwater Horizon spill.

By Nico Grant

NEW YORK
Petroleumworld 10 17 2017

Mexico's world largest oil hedge is complete


Locks in export price of $46 per barrel for 2018: Rubio. Larger stabilization fund will help secure price for 2018.

By Nacha Cattan

MEXICO CITY
Petroleumworld 10 17 2017

"Healthy' oil demand growth up to 2022: OPEC


Bloomberg's Stephen Stapcznski reports on  OPEC's forecast of oil demand. -Watch Video

By Wael Mahdi and Fiona MacDonald

KUWAIT
Petroleumworld 10 16 2017

Opposition challenges Venezuelan regime's vote win, urges protests


Venezuela vote dispute risks rekindling unrest, sanctions

By Alexandra Ulmer, Eyanir Chinea

CARACAS
Petroleumworld 10 16 2017

 

 


Forecasts indicate surplus will clear in third quarter of 2018. PEC estimated stock excess at 171 million barrels in August. ANZ: Iran Exports Over 2 Million Barrels of Oil -Watch Video

By Grant Smith, Wael Mahdi, and Angelina Rascouet

LONDON/KUWAIT
Petroleumworld 10 13 2017

Petrol companies join high-octane battle over fuel in Mexico

Aaron Eisenhauer, MBR

ethanol plant rises out of the cornfields near Malta Bend, Mo. Ethanol, a biofuel largely made from corn that possesses a particularly high octane and now makes up 10 percent of the U.S. fuel supply.

By James Osborne

WASHINGTON
Petroleumworld 10 13 2017

 

Iraq, Iran increasing oil exports in a sales battle with China


Saudi production cuts create opportunity for rivals: Mallinson. Iraqi shipments to U.S. exceed Saudi sales for second month - watch video

By Anthony Dipaola and Julian Lee

DUBAI/LONDON
Petroleumworld 10 11 2017

ExxonMobil extends win streak off Guyana with Turbot-1 well

Stena Drilling.

Operations on ExxonMobil's Turbot-1 discovery offshore Guyana were conducted from the Stena Carron drillship.


By Joel Parshall

HOUSTON
Petroleumworld 10 11 2017

Oil back in business in the Gulf of Mexico as Hurricane Nate move north

NOLA.com

Damage estimates fell to $2.5 billion as New Orleans spared.

By Amy Stillman and Brian K Sullivan

MEXICO CITY/BOSTON
Petroleumworld 10 09 2017

Sinopec's Argentina oil assets on the eye for up to $1 billion


Prospective buyers for the assets - mainly large energy firms from the United States, Europe, Africa and Latin America -include Angola's state oil company Sonangol and two Russian energy giants, including Rosneft, said two of the sources.

By Julie Zhu and Guillermo Parra-Bernal

HONG KONG/SAO PAULO
Petroleumworld 10 09 2017

ExxonMobil with its fifth discovery offshore Guyana

Exxon Mobil has announced a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana. Turbot discovery follows those at at Liza, Payara, Snoek and Liza Deep.


By Velda Addison

HOUSTON
Petroleumworld 10 06 2017

Mexico working to launch shale licensing round, oil companies waiting

Vista Oil & Gas

Miguel Galuccio is now concentrating on the Mexican shale sector with Vista Oil & Gas but he has had past success in Argentina and the Vaca Muerta formation leading.

By
Kathrine Schmidt

MEXICO CITY
Petroleumworld 10 06 2017

Tropical storm Nate shuts oil rigs on track toward gulf coast


Heavy rains are triggering landslides across Central America. Nate could become a hurricane in Gulf of Mexico by Saturday

By Brian K Sullivan and Mark Chediak

BOSTON/SAN FRANCISCO
Petroleumworld 10 06 2017

Germany's Dea Deutsche Erdoel and Egypt's Cheiron winners at Pemex's farmouts


German company makes huge offer of $213.8 million to break four-way tie at onshore field and Cheiron Holdings of Egypt place the high bid to partner with Pemex at the Cardenas-Mora field.

By
Kathrine Schmidt

MEXICO CITY
Petroleumworld 10 05 2017

Pemex and Talos head-to-head on the big oil find due to a field unitization issue


Private oil made a big find in Mexico. Now state oil wants a cut. Discovery hailed by reformers extends into area owned by Pemex. Government at work on rulebook for sharing as investors fret.

By Adams Williams

NEW YORK
Petroleumworld 10 05 2017

Wall Street on watch as Venezuela payday nears, default Citgo's backed would put refiner in play


Traders see an ‘Existential Crisis' as Venezuela payday nears. Fear payment delay as upcoming debt lacks grace period

By Ben Bartenstein

NEW YORK
Petroleumworld 10 04 2017

Federal response to Puerto Rico's hurricane disaster satisfactory, debt need to be 'wiped out' Trump said

Stars and Stripes

President Donald Trump takes a walking tour to survey hurricane damage and recovery efforts in a neighborhood in Guaynabo, Puerto Rico on Tuesday, Oct. 3 , 2017

By Roberta Rampton and Gabriel Stargardter

SAN JUAN, Puerto Rico
Petroleumworld 10 04 2017

Mexico's Trion deep waters ready for BHP, expects to sign oil drilling contract this year

Angel Navarrete/Bloomberg

BHP gearing up to start drilling for oil in Mexico. BHP, Pemex formed JV to develop Trion field in Gulf of Mexico.

By Adams Williams

MEXICO CITY
Petroleumworld 10 03 2017

Trump visit Puerto Rico on Tuesday, 95 percent lack power


Opportunites for systems using solar, batteries are present.

By Robin Respaut and Gabriel Stargardter

SAN JUAN, Puerto Rico
Petroleumworld 10 03 2017

The paradox of an unstoppable force meeting immovable object stumps oil market

U.S. shale acts as a counter to OPEC output and surging demand . APPEC oil conference ends with bullish outlook for 2018 prices.

By Javier Blas, Serene Cheong, and Sharon Cho

SINGAPORE
Petroleumworld 10 02 2017

Exxon and Petrobras bet on offshore drilling - Vladimir Zernov


Exxon Mobil together with Petrobras purchases blocks on Brazil's 14th bidding round. This is a major sign that investment starts to return in the offshore drilling space. Expect both companies to benefit from low dayrates of the offshore drilling industry. Drillers also stand to gain as new jobs will emerge.

By Vladimir Zernov

MOSCOW
Petroleumworld 10 02 2017

 

Above $50 oil sands to pay off and it's a shale boom


Moody's report shows most producers not making enough cash. Study used measure known as leveraged full cycle ratio


By Carlos Caminada

CALGARY
Petroleumworld 09 29 2017

Exxon/Petrobras dupla big winners at Brazil Pre-Salt oil auction

ANP

Brazil holds its most successful oil auction


By Paul Kiernan

RIO DE JANEIRO
Petroleumworld 09 29 2017

Non OPEC producers within pact wait and see if oil cuts need to be extended


Ministers warn against complacency as rebalancing quickens.Group is meeting in Vienna to discuss oil-supply agreement.

By Elena Mazneva,  Angelina Rascouet, and Grant Smith

NEW YORK/HOUSTON
Petroleumworld 09 22 2017

OPEC and its allies indicated that they’ll wait a bit longer to see if further action is required in their bid to clear a global oil glut.

Braskem terminates naphta and gasoline supply contract with PDVSA


The Venezuelan energy company has been struggling to maintain its commercial relationships amid difficulties paying providers and because of sanctions imposed on the company and one of its senior executives by the United States.

By Marianna Parrraga and Tatiana Bautzer

HOUSTON/SAO PAULO
Petroleumworld 09 22 2017

Brazil’s Braskem has terminated a contract to buy light virgin naphtha and natural gasoline from Venezuela’s state-run oil company PDVSA that would expire this month, the petrochemical company said on Thursday.

 

Oil majors move on its own to cut methane pollution


While Republicans push to roll back Obama-era rules, ExxonMobil plans to reduce venting of the powerful greenhouse gas.

By Eric Roston

NEW YORK
Petroleumworld 09 28 2017

Fuel's tankers fleet on the move to powerless Puerto Rico


Federal Help Pouring Into Puerto Rico After Maria. Vessels face ports and roads in shambles as power blinks out.

By Naureen S Malik and Catherine Traywick

NEW YORK/WASHINGTON
Petroleumworld 09 28 2017

A dangerous moment for OPEC

Luke Sharrett/Bloomberg

The impact of Hurricane Harvey and the Kurdish referendum create the risk of a policy mistake.

By Julian Lee

LONDON
Petroleumworld 09 27 2017

Brazil ANP clears 11 companies to bid for presalt areas -table

Brazilian Wave / Westshore Shipbrokers

Brazil oil auction testing apetite on 287 onshore and offshore blocks in a scandal-reforms country


By Reuters Staff

SAO PAULO
Petroleumworld 09 27 2017

Non OPEC producers within pact wait and see if oil cuts need to be extended


Ministers warn against complacency as rebalancing quickens.Group is meeting in Vienna to discuss oil-supply agreement.

By Elena Mazneva,  Angelina Rascouet, and Grant Smith

NEW YORK/HOUSTON
Petroleumworld 09 22 2017

OPEC and its allies indicated that they’ll wait a bit longer to see if further action is required in their bid to clear a global oil glut.

Braskem terminates naphta and gasoline supply contract with PDVSA


The Venezuelan energy company has been struggling to maintain its commercial relationships amid difficulties paying providers and because of sanctions imposed on the company and one of its senior executives by the United States.

By Marianna Parrraga and Tatiana Bautzer

HOUSTON/SAO PAULO
Petroleumworld 09 22 2017

Brazil’s Braskem has terminated a contract to buy light virgin naphtha and natural gasoline from Venezuela’s state-run oil company PDVSA that would expire this month, the petrochemical company said on Thursday.

Brazil oil auction testing apetite on 287 onshore and offshore blocks in a scandal-reforms country


Brazil oil auction to gauge investor appetite amid reforms

By Alexandra Alper

RIO DE JANEIRO
Petroleumworld 09 26 2017

Hurricane Maria without touching land got U.S. refineries in trouble


Philadelphia Energy Solutions orders crude delivery by rail. Delta Air Lines' Monroe Trainer cuts rates by almost a third.

By Barbara J Powell

NEW YORK
Petroleumworld 09 26 2017

Germany's Merkel Nightmare Victory' push chancellor's political party to regroup

Berenberg Says Germany 's AFD Party Will Make Noise

By Arne Delfs, Rainer Buergin, and Patrick Donahue - Watch video

BERLIN
Petroleumworld 09 25 2017

New Trump travel restrictions on North Korea, Venezuela in sweeping ban

Trump adds Venezuela and North Korea to travel ban

By Jeff Mason, Phil Stewart

WASHINGTON
Petroleumworld 09 25 2017

 

Traders empty key crude oil storage hub on Saldanha Bay, S. Africa

Daniel Acker/Bloomberg

Companies said to be selling crude from Saldanha Bay in Africa. Brent crude time-structure strengthens, encouraging sales.

By Rupert Rowling and Javier Blas

LONDON
Petroleumworld 09 21
2017

Venezuela needs to protect PDVSA's oil assets then default - advisers Walker and Cooper


Walker and Cooper admit that protecting PDVSA is only half the story, with the country's own directly issued bonds posing significant hurdles of their own to a successful restructuring.

By Christopher Spink

LONDON
Petroleumworld 09 21 2017

U.S. President Donald Trump bluntly threatens to wipe out North Korea in UN



Trump: Time for world to isolate N. Korean regime- Watch video

By Margaret Talev and Nick Wadhams

NEW YORK
Petroleumworld 09 20 2017

OPEC success may be short-lived


After nine months of supply cuts, signs that glut is clearing. U.S. shale output is stil rising amid season wane in demand

By Grant Smith

LONDON
Petroleumworld 09 20
2017

Hurricane Harvey hits oil refiners on maintenance work

Luke Sharrett/Bloomberg

Floodwater surrounds oil refinery storage tanks in Texas City, Texas on Aug. 30. Exxon, Phillips 66, Marathon among refiners delaying work. Lack of manpower, higher margins among reasons for postponing

By Jessica Summers and Barbara J Powell

NEW YORK/HOUSTON
Petroleumworld 09 19
2017

U.S. president enlists Latin American leaders to keep Venezuela regime in check

Reuters/Kevin Lamarque

Trump says democracy must be restored in Venezuela soon during a during a working dinner with Latin American leaders in New York, U.S., September 18, 2017. In photo, U.S. President with Brazil President Michel Temer (center R).

By Jennifer Jacobs and Samy Adghirni

NEW YORK
Petroleumworld 09 19
2017

China's oil company Cnooc looks for Gulf of Mexico partners


Derick E. Hingle/Bloomberg

Company won rights to develop two deep-water areas in Mexico. Cnooc looks to farm out areas near U.S. maritime border

By Adam Williams and Aibing Guo

MEXICO CITY/HONG KONG
Petroleumworld 09 18
2017

Mexico's main refineries down, quake, blackout, cripple refinery capacity



Cadereyta refinery latest casualty from spate of upsets. U.S. refiners exporting less gasoline after Hurricane Harvey

By Amy Stillman

MEXICO CITY/HONG KONG
Petroleumworld 09 18
2017

 

LNG glut may be shrinking



Bloomberg New Energy Finance cuts peak oversupply outlook 34%. China seen becoming top importer as it shifts to cleaner fuels

By Dan Murtaugh

SINGAPORE
Petroleumworld 09 14
2017

Mizuho Bank withdrew from Chilean hydroproject with $20 million write off


Reuters/Ivan Alvarado


Workers of Alto Maipo hydroelectric project gather close to the town of El Alfalfal, in a pre-mountain range area on the outskirts of Santiago, Chile August 9, 2017.

By Gram Slattery

SANTIAGO
Petroleumworld 09 14 2017

Global oil-demand growth strongest in two years- IEA


Inventories of refined fuels returning to average levels. Hurricane Harvey's impact on oil markets to be ‘short-lived'

By Grant Smith

LONDON
Petroleumworld 09 13
2017

Mexico will expand oil hedge as fuel prices float, Finance Minister says


Operations almost finished Meade says; Cost likely similar to 2017 hedge.

By Carlos M Rodriguez and Nacha Cattan

MEXICO CITY
Petroleumworld 09 13
2017

Irma moves Northwest Florida as Hurricane threatens agricultural markets


Irma cuts power to 4.5 Million, shuts ports and imperils crops

By Mark Chediak, Brian K Sullivan, and Megan Durisin

SAN FRANCISCO/BOSTON/CHICAGO
Petroleumworld 09 11
2017

Saudis discuss oil supply cuts extension with Venezuela, Kazakhstan

Reuters/Anton Vaganov

Saudi Arabian Energy Minister Khalid al-Falih attends a meeting of the 4th OPEC-Non-OPEC Ministerial Monitoring Committee in St. Petersburg, Russia July 24, 2017.

By Rania El Gamal

DUBAI
Petroleumworld 09 11
2017

 

By Javier Blass

LONDON
Petroleumworld 09 01
2017

Latin America fuel traders are pointing at PDVSA waiting gasoline cargos


Traders looks to Venezuelan waiting to be deliver fuel cargoes as Harvey swamps U.S.

By Marianna Parraga

HOUSTON
Petroleumworld 09 01 2017

 

U.S. refiners down on 4.25 million barrels per day of capacity as Harvey continue pouring rain


Largest U.S. refiner shuts down as Harvey makes second landfall. Corpus Christi plants beginning to restart as storm moves on

By Barbara J Powell, Brian K Sullivan, and Dan Murtaugh

HOUSTON/BOSTON/SINGAPORE
Petroleumworld 08 31
2017

Fuel markets jump as Harvey's surge ripples beyond Gulf


An oil refinery is seen before the arrival of Hurricane Harvey on Aug. 25, 2017, in Corpus Christi, Texas.

By Erwin Seba and Devika Krishna Kumar

HOUSTON/NEW YORK
Petroleumworld 08 31
2017

Harvey paralyzes a fifth of U.S. fuel output

Carlos Barria/Reuters

President Donald Trump receiving a briefing on Tropical Storm Harvey relief efforts in Corpus Christi,Texas, on Tuesday.

By Erwin Seba

HOUSTON
Petroleumworld 08 30
2017

Harvey rages on and set for return hit, gasoline extends gains, oil slip


Biggest U.S. refinery is said to be shutting on severe floods. About 20 percent of refining capacity has halted operations

By Ben Sharples and Melissa Cheok

HONG KONG/SINGAPORE
Petroleumworld 08 30
2017

Hurricane Harvey brings death, destruction to Houston as flood waters rise

Adrees Latif/Reuters

Residents use boats to evacuate flood waters along Tidwell Road in east Houston, Texas. August 29, 2017 01:30am EDT

By Marianna Parraga and Ernest Scheyder

HOUSTON
Petroleumworld 08 29
2017

Gasoline up as Texas plants brace for second Harvey hit


Pipelines, terminal operations suspended because of U.S. storm. About 2.35 million barrels of capacity shut after flooding.

By Ben Sharples and Perry Williams

HONG KONG/SIDNEY
Petroleumworld 08 29
2017

Hurricane Harvey throws a wrench into U.S. energy engine


Oil companies evacuate workers as Tropical Storm Harvey hit Texas.

By Ernest Scheyder and Erwin Seba

HOUSTON
Petroleumworld 08 28
2017

Harvey misses Mexico but not its gasoline supply

F. Carter Smith/Bloomberg

Tanker trucks enter a refinery ahead of Hurricane Harvey in Texas City, on Aug. 25.

By Amy Stillman and Adam Williams

MEXICO CITY
Petroleumworld 08 28
2017


Harvey sends Harvey sends gasoline surging as Texas refineries shut down. Exxon, Anadarko, Shell among energy explorers cutting output. Would be first major hurricane to hit U.S. since Wilma.

By Brian K Sullivan and Mark Chediak

BOSTON/SAN FRANCISCO
Petroleumworld 08 25
2017

Venezuela swaps oil minister and PDVSA president

Reuters

Venezuela's new Head of PDVSA Nelson Martinez (L) and Oil Minister Eulogio del Pino (R).

By Brian Ellsworth

CARACAS
Petroleumworld 08 25
2017

 

Latam biggest power mongul Eletrobras heading to privatization


Brazil power wizard takes center stage in Eletrobras shock. Ferreira seen as ‘the market choice' to lead the utility giant. CEO engineered creation of biggest private industry player.

By Vanessa Dezem, Peter Millard, and Arie Shapira

RIO DE JANEIRO
Petroleumworld 08 24
2017

PDVSA's U.S. oil service contractors hit with just more promissory notes


Venezuela's IOUs pile up, keeping U.S. oil servicers in tow. With $19.8 billion due others, company payouts remain far off. Schlumberger, Halliburton gain from interest, regular payment.

By David Wethe

HOUSTON
Petroleumworld 08 24
2017

Chevron's Watson to step down

Andrew Harrer/Bloomberg

Michael Wirth seen as most likely successor to seven-year CEO. Chevron spokesman declines comment on leadership change

By Joe Carroll

CHICAGO
Petroleumworld 08 23
2017

Tropical Storm Harvey lingers and still could become a major tropical storm in the Gulf of Mexico


Harvey threatens gulf coast, sending gasoline higher

By Brian K Sullivan and Laura Blewitt

BOSTON/HOUSTON
Petroleumworld 08 23
2017

Petrobras suffers growing pains in Brazil's freed up fuel market

Dado Galdieri/Bloomberg

Company's share of diesel imports shrank to just 2.2 percent. Daily price adjustments designed to scare off new competitors

By Sabrina Valle

SAO PAULO
Petroleumworld 08 22
2017

South America struggles to keep up with Lithium demand

As established players expand, some newcomers seen struggling. New mine teething problems tightening credit for projects

By Laura Millan Lombrana and Jonathan Gilbert

SANTIAGO/BUENOS AIRES
Petroleumworld 08 22
2017

Total buy Maersk Oil & Gas for $4.95 billion in shares


Total will issue to A.P. Moller–Maersk 97.5 million shares, based on the average Total share price on the 20 business days prior to Aug. 21. That will represent 3.75 percent of the enlarged share capital of Total.

By Geraldine Amiel

PARIS
Petroleumworld 08 18
2017 .
the pace of deals in the energy sector is accelerating after a long downturn.

Dow Chemical weighs exiting shale-gas venture in Argentina, minister says

Juan Mabromata/AFP

YPF, Dow are trying to figure out value for El Orejano. Shale natural gas output subsidized through at least 2021

By Jonathan Gilbert and Alix Steel

PARIS
Petroleumworld 08 21
2017

 

LNG tankers lurking at sea looking for a better deal

Bloomberg

Less LNG evaporation means more flexibility to find best buyer. Gas market looking more like oil as ships become trading tools. By
Anna Shiryaevskaya

LONDON
Petroleumworld 08 18
2017

1 million barrels of Venezuelan heavy crude stranded off sea

Jonathan Bachman/Reuters

Bank jitters over Venezuela stall oil delivery to U.S. refiner. The Suezmax sized oil tanker Karvounis lies at anchor stranded off the coast of Louisiana for lack of a bank letter of credit to discharge its cargo of Venezuelan heavy crude, south of Port Fourchon, Louisiana, U.S. August 17, 2017. By
Marianna Parraga

MEXICO CITY
Petroleumworld 08 18
2017

 

Suisse bans trading of Venezuela and PDVSA bonds

Gianluca Colla/Bloomberg

Bank says it has ‘no appetite' to help fund Maduro government. Lender also halting business with Venezuelan counterparties

By Jan-Henrik Foerster and Katia Porzecanski

ZURICH/NEW YORK
Petroleumworld 08 11 2017

Oil refining US states senators push for not to sanction Venezuela's regime with oil shipments


Sanctions could also afect oil commerce of Venezuela's with Cuba, China and Russial.

By Timothy Gardner

WASHINGTON
Petroleumworld 08 11 2017

U.S. imposes financial sanctions on eight more Venezuela's regime officials


Venezuela Inches Closer to Dictatorship - Watch video

By Saleha Mohsin and Jose Enrique Arrioja

WASHINGTON/NEW YORK
Petroleumworld 08 10 2017

Nigeria traces $615 million graft money to ex-oil Minister

Diezani Alison-Madueke - F. Carter Smith/Bloomberg

Agency says more than a dozen estates traced to Alison-Madueke. Nigeria seeking court ruling for forfeiture of the assets

By Solape Renner and Dulue Mbachu

LONDON/ABUJA
Petroleumworld 08 10 2017

Latin American nations urge Venezuela to close Assembly, the country now a ‘dictatorship'

Mariana Bazzo/Reuters

Peru's Foreign Minister Ricardo Luna (C) along with foreign ministers and representatives from across the Americas, called Venezuela now a ‘dictatorship', Ministers criticize human rights violations and use of violence, in Lima, Peru, August 8, 2017.

By John Quigley

LIMA
Petroleumworld 08 09 2017

Top oil buyers go on light crude oil hunt to meet diesel demand

Heesu Lee/Bloomberg

Malibu, the Suezmax crude carrier, carries Kazakh crude oil. Asian diesel profits surge as demand booms in India, China. SK Innovation to take delivery of U.S. crude for first time

By Heesu Lee

SEOUL
Petroleumworld 08 09 2017

Chevron, Statoil, Total pull all expats staff in Venezuela

Carlos Becerra/Bloomberg

Political crisis fueling violence in nation reliant on crude. Repsol also says it's removed all remaining foreign staff

By Rodrigo Orihuela, Mikael Holter, and Lucia Kassai

MADRID/OSLO/HOUSTON
Petroleumworld 08 08 2017

YPF CEO sees turning point in Argentina oil, gas output

Alberto Raggio/Reuters

Gutierrez said weather issues will hurt YPF's 2017 output, forecast to contract by 3 percent. But he has "no doubt" of positive 2018 production for YPF.

By Caroline Stauffer and Juliana Castilla

BUENOS AIRES
Petroleumworld 08 08 2017

Rosneft lends $1.02 billion to Venezuela oil company PDVSA


Sources: Thomas W. O'Donnell: PDVSA,Gazprom, Global Business Consultans, Bloomberg

Russia's Rosneft standing by investment plans in Venezuela.

By Elena Mazneva and Stephen Bierman

MOSCOW
Petroleumworld 08 07 2017

U.S. refiners could get a margins squeeze with higher-priced oil crudes


In part, the companies are reacting to high costs and anticipating weaker supplies of Venezuelan crude coming to the United States.

By Erwin Seba

HOUSTON
Petroleumworld 08 07 2017

 

Oil at $50 the magic number for deep-sea drillers

 

PDVSA on Plan B should U.S. slap sanctions on Venezuela's oil

Bloomberg/Wil Riera

PDVSA, partners looking at alternatives for country's crude. New destinations may translate into lower prices for Venezuela
.

By Lucia Kassai and Fabiola Zerpa

HOUSTON/CARACAS
Petroleumworld 08 02 2017

Trump's administration sanctions Venezuela's Dictator Maduro


U.S. Tresury Secretary Steven Mnuchin calls Venezuela's President Maduro a Dictator. -Watch video.

By Jose Enrique Arrioja and Saleha Mohsin

NEW YORK/WASHINGTON
Petroleumworld 08 01 2017

Possibly U.S. oil sanctions could risk Venezuela's default


U.S. weighs oil action on Venezuela vote fallout. -Watch video.

By Lucia Kassai, Laura Blewitt, and Nathan Crooks

HOUSTON/CARACAS
Petroleumworld 08 01 2017

Canada's heavy oil plugs gap left by OPEC cuts, Latam

Jiri Rezac

Raw tar sands mining operations near Fort McMurray, Alberta, Canada.

By Nia Williams

CALGARY, Alberta
Petroleumworld 07 31 2017

Venezuela voters snub regimen's assembly, massive protests continue with violence

Reuters/Christian Veron

Riot police officers charge during one of the rallies. U.S. considering some sanctions on Venezuela oil sector -sources.

By Alexandra Ulmer and Anggy Polanco

CARACAS/SAN CRISTOBAL, Venezuela
Petroleumworld 07 31 2017

Venezuela heads for point of no return, U.S. orders diplomats' families to leave

NYT/Meredith Kohut

Signs of initial stirrings of an urban guerrilla movement. The U.S. has been urging Maduro to cancel the vote vote that would allow him to rewrite the constitution.

By Vivianne Rodrigues and Andrew J Barden

NEW YORK/WASHINGTON
Petroleumworld 07 28 2017

ExxonMobil new oil find in Guyana on Venezuela's disputed territorial waters


Venezuela potential area of contention Guyana. Venezuelan government has always claimed the land west of the Essequibo River and also the offshore areas with their area limits.

By Elio Ohep

CARACAS
Petroleumworld 07 28 2017

 

Russia's Rosneft, Venezuela's PDVSA discuss Citgo collateral deal to avoid U.S. sanctions

"This shows that Rosneft has no hangups about expanding its footprint in the world's largest oil patch, even with Maduro becoming an autocrat," said Raul Gallegos, an analyst with the consultancy Control Risks.

CARACAS/HOUSTON
Petroleumworld 07 21 2017

Venezuela Quick Take Q&A: Who'd lose most from U.S. ban on Venezuela crude?


"The move will likely cripple PDVSA-owned Citgo, which would be forced to buy higher-priced crude on the spot market for its refineries," McMonigle said in a note Tuesday. "But US refiners, who oppose the sanctions, would also be impacted as it would force Gulf refiners to find replacements for heavier grades of Venezuelan crude."-Platts / Watch video

NEW YORK
Petroleumworld 07 20 2017

Mexico let huge new find sink in and delays next oil auction

Talos Energy CEO on Mexico big oil discovery - Watch video

Mexico CNH says crude discovery sparked international interest. Country to announce fields for deep water auction "in days"

MEXICO CITY
Petroleumworld 07 20 2017

Ecuador increases oil output breaks OPEC quota

Agreed cuts to oil supply

Source: Bloomberg News, Bloomberg Intelligence
Nation must boost production to raise revenue, minister says. Ecuador accounts for just 1 percent of the Vienna Group's agreed output cuts

ECUADOR/LONDON
Petroleumworld 07 19 2017

Venezuela could face an oil imports ban from the U.S.

Bloomberg

Trump administration raises pressure on Caracas over plan to re-write constitution -Watch video

WASHINGTON/BOGOTA
Petroleumworld 07 19 2017

Is big oil's bet on gas wrong?


Energy giants plan shift from producing oil toward natural gas

LONDON
Petroleumworld.com 07 18 2017

Venezuela on Trump's warning, opposition calls for strike

“The United States will not stand by as Venezuela crumbles,” Trump said and warns of potential ‘swift economic actions'. Opposition calling for a 24-hour strike .

CARACAS
Petroleumworld.com 07 18 2017

More than seven mllions of venezuelans turn against Maduro in symbolic vote

Reuters

Left to right, Jose Virtuoso, rector of the Andres Bello Catholic University (UCAB), Raul Lopez Sayago, rector of the Pedagogical Experimental Libertador University (UPEL), Cecilia Garcia Arocha (C), rector of the Central University of Venezuela (UCV), Jessy Divo, rector of the University of Carabobo, Benjamin Scharifker, Rector of the Metropolitan University (UNIMET), "Commission of Guarantors" of the National Assembly consultation process address the media announcing the results on the plebiscite against Nicolas Maduro's regimen and his plan to rewrite the constitution, in Caracas, Venezuela July 16, 2017. The writing on the screen reads "7.186.170" votes against the regime.

CARACAS
Petroleumworld 07 17 2017

Pemex finalize $100 millions dolars Odebrecht refinery contract amid U.S. probe

Bloomberg/Yael Martinez

Construction on the Miguel Hidalgo Refinery in Tula, Hidalgo, Mexico, on April 18, 2017.

MEXICO CITY
Petroleumworld 07 17 2017

Getty Images

Sierra Oil & Gas among explorers in group that struck crude. Next auctions expected to involve deep-water and shale fields.


MEXICO CITY/NEW YORK
Petroleumworld 07 14 2017

Shale oil will be better serve with deeper OPEC cuts - Abdullah al-Attiyah

Bloomberg/Brittany Sowacke

There's a risk that OPEC loses market share, former oil minister of Qatar, al-Attiyah says. OPEC's compliance is ‘very good' even if not 100 percent

KUWAIT/LONDON
Petroleumworld 07 14 2017

Oil price recovery slips back to 2020 - WPC

Reuters

US Secretary of State Rex Tillerson makes a speech during the opening ceremony of the 22nd World Petroleum Congress-WPC in Istanbul, Turkey on 9 July, 2017. It could be at least 2020 before slump ends, Pouyanne says . ‘Lower for longer' is new normal: Baker Hughes CEO Simonelli

ISTANBUL
Petroleumworld 07 13 2017

Mexico onshore oil and gas auction Round 2.2 & 2.3 awarded nearly all the blocks


Jaguar Exploration and Production of Hydrocarbons rose as the winner of the 2.2 and 2.3 oil rounds. Of the 24 blocks offered the company was awarded 11, six in consortium and five individually.

MEXICO CITY
Petroleumworld 07 13 2017

 

Oil trading on the offshore mega store at sea

Bloomberg/Tim Rue

Ships floating off Singapore form distribution center for Asia. Oil from U.S. to Africa sold from vessels; grades also blended.

SINGAPORE
Petroleumworld 07 12 2017

Mexico's opens the natural gas capacity reservation system ENAGAS new market model


Mexico's natural gas market goes foward in evolutionary step

MEXICO CITY
Petroleumworld 07 12 2017

Big oil expect oil demand to shrink faster than anticipated

NYT/William Widmer

Remember peak oil? demand may top out before supply does

LONDON
Petroleumworld 07 11 2017

Pemex hires Hogan Lovells Law Firm to audit Odebrecht' s contracts

Bloomberg/Susana Gonzalez

Pemex yet to be identified as company in DOJ investigation

MEXICO CITY
Petroleumworld 07 11 2017

Bloomberg/Akos Stiller

Issam Almarzooq , Kuwait oil minister. Output in both countries rose amid exemption from global cuts. OPEC, allies due to meet July 24 in Russia to discuss matter.

KUWAIT/LONDON
Petroleumworld 07 10 2017

U.S. unlikely to sanction venezuelan crude


Trump administration is weighing sanctions against Venezuela. Refiners say banning oil imports would hurt U.S. economy

WASHINGTON
Petroleumworld 07 10 2017

 

U.S. unlikely to sanction venezuelan crude


Trump administration is weighing sanctions against Venezuela. Refiners say banning oil imports would hurt U.S. economy

WASHINGTON
Petroleumworld 07 10 2017

Getty/ Sean Gallup

Donald Trump arrives at Hamburg Airport on July 6, 2017. Warsaw speech focuses on religion, family ahead of rule of law. That may go down well in Poland; elsewhere in EU, not so much.

NEW YORK
Petroleumworld 07 07 2017

Pemex hires independent legal firm to audit Odebrecht deals amid US DOJ Braskem case


Company says no confirmation that U.S. case ivolves Pemex. Move designed to ‘clear up the facts,' legal director says.

MEXICO CITY
Petroleumworld 07 07 2017

 

U.S. SPR reserves shrink as shale oil offers supply buffer

Bloomberg/Daniel Acker

Drawdowns continues as White House pledges to sell more. Rising domestic output to offset need for a flush SPR.

NEW YORK
Petroleumworld 07 06 2017

Mexico's regulator CNH names bidders on oil and gas Round 2 onshore auctions for July 12


Four companies and five consortiums have qualified to bid in the first of the two auctions, Round 2.2 and For the third auction, Round 2.3, 11 individual companies have qualified and Eight consortiums.

MEXICO CITY
Petroleumworld 07 06 2017

Brent oil holds below $50 as Russia oppose deeper OPEC cuts


Russia to oppose any proposal to cut output further: officials. U.S. crude stockpiles forecast to resume declines: survey

HONG KONG
Petroleumworld 07 05 2017

Venezuela's poor rebel against the regime, roiling Maduro's bolivarian strongholds

AFP

Riot police clash with residents of La Vega neighborhood in Caracas. In western Caracas, fury erupts when food program falters. ‘People protest when there are no other options. It's madness'

CARACAS
Petroleumworld 07 05 2017

OPEC's oil output at the highest this year

Global oil supply rose by 585 kb/d in May to 96.69 mb/d after both OPEC and non-OPEC produced more-IEA. Crude production rises for second straight month, survey finds. Libya and Nigeria added 130,000 barrels a day last month.

LONDON
Petroleumworld 07 04 2017

Brazil's ethanol and biodiesel from Argentina delay EPA's Quotas

Bloomberg/Dado Galdieri

EPA's Scott Pruitt said to order reconsideration of biofuel mandate. Imported supplies help refiners satisfy annual biofuel quotas

WASHINGTON/CHICAGO
Petroleumworld 07 04 2017

Mexico speeding up seven pipes projects to import more U.S. gas

MEXICO CITY/HOUSTON
Petroleumworld 07 03 2017

Trump's 'vast energy wealth' of the U.S. start by moving gas in Nustar's Texas to Mexico pipeline

Bloomberg/ Daniel Acker

The 46-mile pipeline to cross Texas-Mexico border, under wall. Presidential permits issued for three NuStar pipelines: State

HOUSTON/WASHINGTON
Petroleumworld 07 03 2017

 

 

 

 


 

 

 

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