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

Top Headlines 2017 January/June

Top Headlines 2017 June/December

Top Headlines 2018 Jan- April

Top Headlines 2018 May - Jun

Top Headlines 2018 Jul -Ago - Sep

 

Top Headlines 2018 Oct -Ago - Dec

Simon Dawson /Bloomberg

Oil storage tanks in the Juaymah tank farm at Saudi Aramco's Ras Tanura oil refinery and terminal at Ras Tanura, Saudi Arabia.

- Saudi-Russia meeting at G20 likely to determine OPEC outcome
- WTI crude plunged below $50 a barrel for first time in a year

By Javier Blas / Bloomberg

LONDON
Petroleumworld 11 30 2018

EPA lifts advanced biofuel mandate for 2019 - document

Ting Shen/Reuters

An empty podium awaits the arrival of U.S. Environmental Protection Agency (EPA) Acting Administrator Andrew Wheeler to address staff at EPA headquarters in Washington, U.S., July 11, 2018.

By Humeyra Pamuk / Reuters

WASHINGTON
Petroleumworld 11 30 2018

 

Resilient Rosneft, Lukoil, Gazprom, Novatek give Putin leverage with OPEC

Oliver Bunic /Bloomberg

- Nation's crude producers comfortable with oil above $50: Fitch
- Tax system, weaker ruble are a hedge against falling prices

By Dina Khrennikova and Olga Tanas / Bloomberg

MOSCOW
Petroleumworld 11 29 2018

BP sees Brazil's new biofuels policy boosting investment

energyworld

“We are very positive. This is a very important signal the country is giving, creating a stable regulatory environment that will allow companies to invest.”

By Marcelo Teixeira / Reuters

SAO PAULO
Petroleumworld 11 29 2018

OPEC expected to cut oil output despite Trump, survey shows

Bloomberg

Video: Oil Rebounds From One-Year Low as OPEC Decision Looms

- Prices have crashed amid booming U.S. output and waning demand
- Thirty-one of 36 analysts predict a deal to curtail supplies

By Grant Smith, Jessica Summers, and Ann Koh / Bloomberg

LONDON
Petroleumworld 11 28 2018

Pemex triples size of Ixachi 1 biggest onshore find in 25 years

youtube

Mexico made its largest onshore light crude oil and gas discovery in 15 years

- Discovery now exceeds 1 billion barrels of oil equivalent
- Ixachi daily extra light oil output to reach 80,000 barrels

By Amy Stillman / Bloomberg

MEXICO CITY
Petroleumworld 11 28 2018

What oil at $50 a barrel means for the world economy

Andrey Rudakov/Bloomberg


- Oil importers like South Africa, India among biggest winners
- Saudi Arabia and Russia revenues will hurt from price slump

By Enda Curran and Michelle Jamrisko / Bloomberg

HONG KONG/SINGAPORE
Petroleumworld 11 27 2018

Venezuela pays $425 million to gold miner Crystallex in move to safeguard PDVSA Citgo

local10abc

Citgo Petroleum Corp., one of the largest oil refinery and distribution networks in the United States.

- Crystallex International Corp. received payment in November
- Canadian miner one of many companies vying for Citgo assets

By Patricia Laya and Andrew Rosati / Bloomberg

CARACAS
Petroleumworld 11 27 2018

 

Bolsonaro seeks $30 billion Brazil oil boon where others failed

Sergio Lima/AFP

Jair Bolsonaro

- He'll be third president to seek sale of government reserves
- Exxon Mobil, Shell have shown interest in the area in the past

By Sabrina Valle and Samy Adghirni / Bloomberg

RIO/BRASILIA
Petroleumworld 11 26 2018

President-elect Jair Bolsonaro is pursuing the sale of Brazil's deep-sea treasure-trove of oil, but just weeks after his election he's facing the same political obstacles as his two predecessors.

Mexico to vote in Lopez Obrador's project referendums that have sunk markets

Brett Gundlock/Bloomberg

The first terminal of the New International Airport of Mexico City (NAICM) stands under construction in Texcoco, Mexico, on Nov. 6, 2018.

- Concern about consultations have sent the peso tumbling
- Methods of the consultation have been widely criticized st

By Justin Villasmil / Bloomberg

MEXICO CITY
Petroleumworld 11 26 2018

Mexico oil and gas rounds on hold, auctions postponed two years

Facebook/Rocio Nahle

Rocio Nahle, incoming energy secretary with president-elect Andres Manuel Lopez Obrador

- Mexico says no new auctions until 2021

By Kathrine Schmidt / Upstream

MEXICO CIY
Petroleumworld 11 22 2018

Is a shale-sized oil boom hiding in Britain's Atlantic bedrock?

Hurricane Energy Plc

Granite outcrops with extensive vertical fracturing sit on the Isle of Harris in Scotland.

- Maverick geologist Robert Trice believes there are billions of barrels of crude ready to drill from granite rock buried under the ocean floor

By Kelly Gilblom / Bloomberg

LONDON
Petroleumworld 11 23 2018

OPEC will struggle to muster its friends for 2019 oil cuts

Stefan Wermuth/Bloomberg

Gathering non-OPEC support for extending output cuts for a third year will be challenging 

By Julian Lee / Bloomberg

LONDON
Petroleumworld 11 22 2018

Pemex feels AMLO's heat as investors dump bonds

Alejandro Cegarra/Bloomberg

Andres Manuel Lopez Obrador (AMLO)

- Pemex bonds now trade at 82 cents per dollar; yields surge
- Crude production is set for its 14th consecutive annual drop

By Justin Villamil and Amy Stillman / Bloomberg

MEXICO CIY
Petroleumworld 11 22 2018

Investors flee oil as stock rout, OPEC doubts turn up pressure

Bloomberg


Worst day of an awful year leaves no corner of market unscathed - video - Bloomberg Market Wrap 11/20: Junk Yield Surge, FANG Trade and S&P 500

- S&P 500 flirts with correction, corporate bonds showing cracks
- Investors looking for havens not finding them in normal places

By Alex Nussbaum and Tsuyoshi Inajima / Bloomberg

NEW YORK/TOKYO
Petroleumworld 11 21 2018

Texas is about ready to create OPEC's worst nightmare

Callaghan O'Hare/Bloomberg

Oil drill pipe casings sit at a drilling site in Reeves County, Texas, U.S., on Aug. 22.

- Total U.S. production rising at fastest pace in 98 years
- Pipeline bottleneck in Texas set to ease by end of 2019

By Javier Blas / Bloomberg

LONDON
Petroleumworld 11 21 2018

 

Oil holds near $57 as investors weigh OPEC plans and IEA warning

Simon Dawson/Bloomberg

International Energy Agency Executive Director Fatih Birol also warned that reducing supplies may have some negative implications.

- Output cuts may have negative implications: IEA's Fatih Birol
- WTI for January little changed after gaining 0.9% on Monday

By Sharon Cho / Bloomberg

SINGAPORE
Petroleumworld 11 20 2018

Russia's wait-and-see stance on OPEC and allies cuts shows gap with Saudis

Andrey Rudakov/Bloomberg

A close look at an oil drilling derrick.

- Oil-output decisions won't be made until December, Novak says
- Saudi Arabia has sought cuts of about 1 million barrels a day

By Olga Tanas and Dina Khrennikova / Bloomberg

MOSCOW
Petroleumworld 11 20 2018

 

 

French protests against Macron's fuel taxes lead to 1 Death, 227 Injuries

Charles Platiau/Reuters

A man wearing a yellow vest, a symbol of a French drivers' protest against higher fuel prices, attends the demonstration with an image of French president Emmanuel Macron, in Paris, France, November 17, 2018.

- ‘Yellow Vest' movement protests against gasoline tax increases
- Macron's government has refused to back down from tax hike

By Fabio Benedetti Valentini / Bloomberg

PARIS
Petroleumworld 11 19 2018

Mexico's AMLO to hold new public consultation on policy platform



Video: Pemex Fears Brain Drain Under AMLO's Administration. Bloomberg's Amy Stillman and Nymia Almeida, senior vice president and lead Pemex analyst at Moody's Mexico, discuss the potential issues faced by Petroleos Mexicanos under the administration of Mexico's President-Elect Andres Manuel Lopez Obrador.

Reporting by Ana Isabel Martinez / Reuters

MEXICO CITY
Petroleumworld 11 19 2018

 

Xi's gain is Prince Mohammed's pain: Oil rout winners and losers

Simon Dawson/Bloomberg

Oil pipelines run through Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia.

- Trump has called on Saudi Arabia and OPEC to let prices drop
- Russia's ability to withstand price slump improved since 2014

By Enda Curran, Alan Crawford, and Rene Vollgraaff / Bloomberg

HONG KONG/BERLIN/JOHANESSBURG
Petroleumworld 11 16 2018

Mexico hikes interest rate, citing peso pressure from AMLO

Alejandro Cegarra/Bloomberg

Andres Manuel Lopez Obrador

- Banxico raises rate a quarter point, with one vote for half
- Economists, traders see likelihood of additional increase

By Eric Martin / Bloomberg

MEXICO CITY

Petroleumworld 11 16 2018

Oil's record plunge is a ‘Made in America' phenomenon, Citi says


Source:Bloomberg

- Iran waivers and tweets at OPEC producers created glut: Morse
- U.S. shale output and demand-sapping trade war also factors

By Dan Murtaugh / Bloomberg

SINGAPORE
Petroleumworld 11 15 2018

Mexican officials quitting top jobs with AMLO set to take office

CNH

Juan Carlos Zepeda, who oversaw the country's oil fields, quit after reports of pressure from incoming Energy Minister Rocio Nahle to leave.

- Resignations from central bank, oil commission stir concerns
- Openings give president-elect influence in autonomous bodies

By Eric Martin / Bloomberg

SINGAPORE
Petroleumworld 11 15 2018

Oil's collapse deepens as supply and demand concerns roil market


Video:
Oil Plunge Is Market Overreaction, Nasdaq Corporate Solutions' Essner Says

- OPEC warns demand for its oil falling faster than expected
- WTI fell the most in 3 years Tuesday in longest run of losses

By Tsuyoshi Inajima / Bloomberg

TOKYO
Petroleumworld 11 14 2018

Mercosur overhaul in the cards in a move to Trump-style trade deals

Pricey Imports

- Brazil, Argentina see Mercosur nations doing individual pacts
- Growing support across trade bloc for pro-trade reforms

By Patrick Gillespie, Jorgelina Do Rosario, and Samy Adghirni / Bloomberg

BUENOS AIRES/BRASILIA
Petroleumworld 11 14 2018

 

Trump presses S. Arabia over oil as relations under stress


Video: OPEC Considers 2019 Production Cuts

- Move adds to tensions following death of Jamal Khashoggi
- U.S. has looked to Riyadh to offset sanctions on Iran oil

By Justin Sink / Bloomberg

WASHINGTON
Petroleumworld 11 13 2018

Investors racing to Bolsonaro's Brazil as they bolt from AMLO's Mexico

mxpolitico.com

Lopez Obrador, Mexico's president - elect (left) and Jair Bolsonaro, Brazil's president - elect.

- ETFs dedicated to Brazil see strongest inflow since May 2017
- Investors take money out of Mexican underperforming assets

By Aline Oyamada and Carolina Wilson / Bloomberg

SAO PAULO /NEW YORK
Petroleumworld 11 13 2018

 

Oil's bear market pushes OPEC and allies closer to cuts

Video: JPMorgan's Ramakrishnan Sees Oil Rallying From Where it Is Now

- Saudis to cut exports by 500,000 barrels a day in December
- OPEC+ committee says ‘new strategies' might be considered

By Grant Smith, Anthony Dipaola, Mohammed Sergie, and M.Habboush / Bloomberg

LONDON/DUBAI/ABU DHABI
Petroleumworld 11 12 2018

Lopez Obrador shockwaves spread for Mexico investors qary of policies

Alejandro Cegarra/Bloomberg

Andres Manuel Lopez Obrador, Mexico’s president-elect, speaks during a press conference.

- Morena bill to kill some bank fees sends stocks plunging
- Airport cancellation, Maduro invite caused concern last week

By Eric Martin / Bloomberg

MEXICO CITY
Petroleumworld 11 12 2018

 

Oil teeters near record losing streak after entering bear market



Video: Oil Extends Declines on the Way to a Nine-Day Losing Streak

- OPEC, allies to meet Sunday to discuss possible output curbs
- WTI trades below $61/barrel, heading for a 10th straight drop

By Sharon Cho / Bloomberg

SINGAPORE
Petroleumworld 11 09 2018

Keystone XL pipeline project blocked by judge in Montana

Andrew Burton/Getty

The case is Indigenous Environmental Network v. U.S., 17-cv-00029, U.S. District Court, District of Montana (Great Falls).

- TransCanada barred from proceeding without further review
- Ruling comes in legal challenge by environmental groups

By Andrew M Harris / Bloomberg

SINGAPORE
Petroleumworld 11 09 2018

OPEC considers 2019 oil production cuts in yet another u-turn


Video:OPEC considers 2019 production cuts

- Fresh U.S. shale surge threatens a return to surplus in 2019
- Producers worry again about rising stockpiles as prices drop

By Grant Smith and Javier Blas

LONDON
Petroleumworld 11 08 2018

China's canadian oil binge to wind down as U.S. refiners ramp up

Darryl Dyck/Bloomberg

The Nord Steady is guided

- Five Aframax tankers leave Vancouver for China in two months
- Trans Mountain pipe expansion would open future access to Asia

By Sheela Tobben and Robert Tuttle

CALGARY/NEW YORK
Petroleumworld 11 08 2018

Democrats gained control of the House, while Republicans kept a majority in the Senate


Video:Pelosi says a Democratic House will serve as a check on Trump.

- Republican loss of House to dramatically alter Trump's tenure
- Midterm vote sets stage for 2020 battle for presidency

By John McCormick and Mark Niquette

WASHINGTON
Petroleumworld 11 07 2018

Is this good-bye? Petrobras CEO ends presser on sentimental note

Andre Coelho/Bloomberg

Ivan Monteiro

- Ivan Monteiro hasn't received an invitation to remain as CEO
- Bolsonaro has freedom to change Petrobras management in 2019

By Sabrina Valle

RIO
Petroleumworld 11 07 2018

U.S. warns of ‘severe penalties' for evading Iran sanctions, eight governments given temporary oil waivers on sanctions


Video: U.S. Secretary of State Michael Pompeo and Treasury Secretary Steven Mnuchin outline new sanctions against Iran.

- Pompeo names eight governments given temporary oil waivers
- Pressure campaign has cost Iran $2.5 billion since May: Pompeo

By Saleha Mohsin and Nick Wadhams

WASHINGTON
Petroleumworld 11 06 2018

Bolsonaro to push forward giant Brazil oil sale

Dado Galdieri/ Bloomberg

A Petroleo Brasileiro SA Floating Production Storage and Offloading vessel sits at a maintenance shipyard in Angra dos Reis, Brazil.

- Government estimates auction could fetch about $27 billion
- Castro leaves University of Iowa faculty to join energy team

By Sabrina Valle

RIO
Petroleumworld 11 06 2018

U.S. sanctions on Iran oil kick in


Video: Iran Sanctions Snap Back

By Nick Wadhams and Saleha Mohsin

WASHINGTON
Petroleumworld 11 05 2018

Cash-strapped Venezuela wants an adviser, not money -Russia

Bloomberg

Video: Deserted beaches near Caracas.

- Country has ‘decent' economic plan, Storchak says after visit
- Russian team met Venezuelan Finance Ministry, central bank

By Stepan Kravchenko and Anna Andrianova

MOSCOW
Petroleumworld 11 02 2018

A synchronized slowdown is looming: World Economy this week

Daniel Acker / Bloomberg


The trade war is starting to hurt China's economy for good, with manufacturing output on the verge of contraction and export orders at a two-and-a-half low. - Video
-

By Alessandro Speciale

FRANKFURT
Petroleumworld 11 02 2018

Trump orders sanctions on Venezuela gold to pressure Maduro

Carlos Becerra / Bloomberg

Nicolas Maduro

- Bolton calls Venezuela, Cuba, Nicaragua ‘Troika of Tyranny'
- State Department also sanctions associates of Cuban military

By Justin Sink and Jonathan Levin

WASHINGTON/MIAMI
Petroleumworld 11 02 2018

India, Korea working on outline of Iran oil waiver with U.S.

Ali Mohammadi/Bloomberg

No final decision has been made and an announcement is unlikely before U.S. sanctions on Iran are reimposed Nov. 5.

- Final accord may not come before U.S. sanctions hit on Nov. 5
- Exemptions would allow limited imports of crude from Iran

By Heesu Lee and Debjit Chakraborty

NEW YORK
Petroleumworld 11 01 2018

PDVSA scandal grows as ex-Finance chief pleads

costadelsolfm.net

Abraham Edgardo Ortega, 51, admitted Wednesday in federal court in Miami that he took $17 million in cash bribes and that he conspired to launder money looted from PDVSA.

- Abraham Ortega is second person to admit guilt in Miami case
- Ortega cooperating with prosecutors eyeing President Maduro

By David Voreacos

NEW YORK
Petroleumworld 11 01 2018

AMLO busca calmar las aguas tras cancelación de aeropuerto en México

Carlos Jasso/Reuters

Alfonso Romo, próximo jefe de gabinete de Andrés Manuel López Obrador, llega a una reunión con legisladores en Ciudad de México. Imagen de archivo. 11 de julio 2018.

Por Ana Isabel Martinez

CIUDAD DE MÉXICO
Petroleumworld 31 10 2018

Petrobras mantendría su ritmo de venta de activos podrían vender otros 20.000 mln dlr en 2019

Adrees Latif/Reuters

Petrobras Pasadena Refinery en Pasadena, Texas, Estados Unidos. 31 de agosto, 2017. REUTERS/Adrees Latif


Por Alexandra Alper y Marta Nogueira

RÍO DE JANEIRO
Petroleumworld 31 10 2018

 

India, Korea working on outline of Iran oil waiver with U.S.

Ali Mohammadi/Bloomberg

No final decision has been made and an announcement is unlikely before U.S. sanctions on Iran are reimposed Nov. 5.

- Final accord may not come before U.S. sanctions hit on Nov. 5
- Exemptions would allow limited imports of crude from Iran

By Heesu Lee and Debjit Chakraborty

NEW YORK
Petroleumworld 11 01 2018

PDVSA scandal grows as ex-Finance chief pleads

costadelsolfm.net

Abraham Edgardo Ortega, 51, admitted Wednesday in federal court in Miami that he took $17 million in cash bribes and that he conspired to launder money looted from PDVSA.

- Abraham Ortega is second person to admit guilt in Miami case
- Ortega cooperating with prosecutors eyeing President Maduro

By David Voreacos

NEW YORK
Petroleumworld 11 01 2018

 

Oil biggest monthly decline since 2016 coming up on growth fears

Andrey Rudakov/Bloomberg

Oil has lost more than 10 percent after breaching $76 a barrel earlier this month.

- Trade spat, swelling U.S. stockpiles contribute to Oct. loss
- WTI trades below $67/bbl, heading for a 9.4% drop this month

By Heesu Lee

SEOUL
Petroleumworld 10 31 2018

33 days before AMLO's becomes president, investors are fleeing Mexico

Mauricio Palos/Bloomberg

Andres Manuel Lopez Obrador. To the president-elect's thinking, Mexico would never have opened its energy market to foreign companies in 2014 had the question been put to a referendum.

- Lopez Obrador had promised businessmen an orderly transition
- Peso, stocks on Monday slumped the most in almost two years

By Eric Martin

MEXICO CITY
Petroleumworld 10 31 2018

Brazil's oil windfall on Bolsonaro side with output poised to soar

Dado Galdieri/Bloomberg

Brazil's President-elect Jair Bolsonaro is staring at an oil windfall.


- Morgan Stanley sees Petrobras's output up 12 percent in 2019
- Investors waiting on Bolsonaro to pick cabinet, Petrobras CEO

By Sabrina Vale

RIO
Petroleumworld 10 30 2018

Lopez Obrador scraps $13 billion Mexico city airport construction work; peso dive

NAICM

New International Airport of Mexico City (NAICM) under construction

- Lopez Obrador has said he will respect result of consultation
- Canceling now could cost as much as $10.5 billion, BBVA says

By Andrea Navarro , Eric Martin , and Justin Villamil

MEXICO CITY
Petroleumworld 10 30 2018

 

Brazil elects Jair Bolsonaro as next President


Brazil Swings Right With Jair Bolsonaro's Commanding Victory. Julia Leite reports.- Video -

- The president-elect has promised to rule with an iron fist
- His win will please markets, but raises fear about democracy

By Raymond Colitt, David Biller, and Bruce Douglas

RIO/BRASILIA
Petroleumworld 10 29 2018

YPF increase output outlook as Vaca Muerta begins to deliver - CEO

Christopher Goodney/Bloomberg

YPF
Chief Executive Officer Daniel Gonzalez

- Argentine driller sees Patagonian shale play bolstering output
- Forecasts up to 7% annual growth in oil and gas production

By Jonathan Gilbert

BUENOS AIRES
Petroleumworld 10 29 2018

 

China tells CNPC and Sinopec to hold on Iran oil buying

Ali Mohammadi/Bloomberg

State-owned giants are to halt Iran oil purchases

- CNPC and Sinopec to avoid loading Iranian crude in November
- Revenue from oil and gas could fall by $7 trillion by 2040

By Bloomberg News

BEIJING/SINGAPORE/HONG KONG
Petroleumworld 10 26 2018

Conoco received $345 million in ‘cash and commodities' from Venezuela


Conoco Chief Financial Officer Don Wallette told analysts on a conference call. PDVSA has also made one $100 million cash payment, with another due in November.

- Conoco is collecting $2 billion from Venezuela—one barrel of oil at a time
- Rest of initial payment to include proceeds from seized oil

By Alex Nussbaum

NEW YORK
Petroleumworld 10 26 2018

Petro-States have a problem with their boom-and-bust price cycles economies - IEA


Prices will come under pressure over the long term, the IEA says, because of rising U.S. shale oil production, increased energy efficiency and policies to curb climate change and local air pollution.


- Countries dependent on crude revenue must diversify, IEA says
- Revenue from oil and gas could fall by $7 trillion by 2040

By Helen Robertson

LONDON
Petroleumworld 10 25 2018

PDVSA may pay the $949 million sum on Citgo-backed bond amid defaults

caraotadigital

So far, PDVSA has shown it is determined to hold on to Citgo, even as U.S. sanctions prevent the refiner from distributing dividends back to Venezuela.

- Failure to pay may jeopardize state-oil company's U.S. asset
- Payment would mark exception for socialist state amid defaults

By Ben Bartenstein , Jose Enrique Arrioja , and Davide Scigliuzzo

NEW YORK
Petroleumworld 10 25 2018

 

Privatize Petrobras? check with Bolsonaro's generals first

Petrobras

The Brazilian military has more experience in public administration than warfare.

- Bolsonaro scales back plans to sell Brazilian state companies
- The army captain's voting history is nationalist, Fitch says

By Sabrina Valle

RIO
Petroleumworld 10 24 2018

Latin America's $7 billion bond pipeline tests capacity for risk


- Brazil, Peru may lead sales while Argentina is less attractive
- Issuers seeking a window of market calm to push through deals

By Pablo Rosendo González

BUENOS AIRES
Petroleumworld 10 24 2018

 

Iraq, the world's fourth-biggest oil producer can't keep the lights on

theglobalobservatory.org

Protests have sparked in Iraq by long-simmering grievances regarding insufficient electricity, water quality, and unemployment. “An increase in production is good news, but Iraq still fails to provide basic services like clean water and power to its citizens, including in Basra where most of the oil is extracted,” said Ziad Daoud, Bloomberg's chief economist in the Middle East.

Video:
Oil Heads to a Weekly Decline Amid U.S.-Saudi Tension

- Iraq's political paralysis hasn't dented crude output or sales
- OPEC's No. 2 will be second to U.S. in oil growth until 2025

By Mohammed Sergie

DUBAI
Petroleumworld 10 23 2018

Ecopetrol may be the least excited upgrade note in analyst history


MarketBeat

But, despite the upgrade, the analysts want to be clear: You probably shouldn't buy this stock.

By Tina Davis

HOUSTON
Petroleumworld 10 23 2018

No plans for 1973 oil crisis repeat, S. Arabia Energy Minister Falih says

David Falconer/NARA/U.S. National Archives

A gas station in Portland, U.S. in 1973

Video: Trump Plans to Pull Out of Nuclear Weapons Pact With Russia

- Kingdom may pump 11 million barrels a day soon: Energy Minister Khalid Al-Falih to Tass
- World should handle Khashoggi political crisis with ‘wisdom'

By Dina Khrennikova

MOSCOW
Petroleumworld 10 22 2018

McKinsey & Co. is ‘horrified' that Saudi Arabia report may have been misused

Timothy A. Clark/AFP


The image pf Jamal Khashoggi is seen projected on a screen s during a news conference. 

Video: Saudi's evolving story of the death of journalist Khashoggi elicited skepticism from its allies. Ros Krasny reports.

- Consulting firm says report not intended to target dissidents
- McKinsey says it was studying social-media use in kingdom

By Jordyn Holman

NEW YORK
Petroleumworld 10 22 2018

 

 

Oil set for a 2nd weekly decline as U.S. stocks swell offsets Khashoggi case


Video: Quite Constructive on Energy Prices, Conning's Franklin Says

- Prompt WTI spread in contango, signaling weakness in market

- WTI futures rises 0.4%, on course for 3.4% weekly decline

By Sharon Cho

SINGAPORE
Petroleumworld 10 19 2018

ExxonMobil on the big money in Brazil as Petrobras star fades

Dealoil

Exxon makes major bet on Brazil

- Only Petrobras has greater exploration acreage in the country

- Exxon expanded aggressively after President Temer's reforms

By Sabrina Valle and Kevin Crowley

RIO/HOUSTON
Petroleumworld 10 19 2018

 

Iran oil sanctions impact update: Cepsa's Last Cargo; Korea to Zero

Ali Mohammadi/Bloomberg

With less than a month to go before they come into force, U.S. sanctions on Iran's oil exports have forced buyers to turn away.

By Julian Lee and Irene Garcia Perez

LONDON
Petroleumworld 10 18 2018

Permian drillers are selling WTI Light a new lighter crude oil grade


Sales of West Texas Intermediate Light, or WTI Light, started in September

- WTI Light crude being used for blending into other varieties
- Sales began in September, will move on multiple pipelines

By Sheela Tobben and Catherine Ngai

HOUSTON
Petroleumworld 10 18 2018

 

Oil, debt and Iran: weapons in any U.S.-Saudi fight over Khashoggi

Chris McGrath/Getty

Play Video: Saudi Economy Still Vulnerable to Oil Prices Shocks, Emirates NBD's Haque Says

- Efforts to calm tensions over critic's disappearace underway
- Analysts see little upside from a sustained confrontation

By Lin Noueihed, Zainab Fattah, Anthony Dipaola, and Mark Niquette

CAIRO/DUBAI/NEW YORK
Petroleumworld 10 17 2018

Venezuela is overdue in a $7 billion bond, maybe on this one will pay


Venezuela is $7 billion overdue, but likely to pay this bond

- Principal, interest payment on 2020 bond is due on Oct. 27
- Notes are backed by Citgo, increasing stakes for Venezuela

By Patricia Laya

CARACAS
Petroleumworld 10 17 2018

Saudis vow to retaliate and threat to use oil as a weapon

Reuters

Political tension between the U.S. and Saudi Arabia may have the potential of spilling over into global oil markets. Saudis Begin Internal Probe Into Khashoggi Disappearance. Trump send Pompeo to Saudi Arabia as King denies Khashoggi link - Video -

- Riyadh vows to retaliate to any measures using economic clout
- Market is skeptical Saudis would actually use oil as weapon

By Javier Blas

LONDON
Petroleumworld 10 16 2018

Brazil's Bolsonaro leading and moving far apart over leftist candidate

Cris Faga/NurPhoto

During a rally in support of Bolsonaro on Paulista Avenue, the main highway of Sao Paulo.

- Jair Bolsonaro has 18 percentage-point lead over Haddad
- Haddad's rejection rating 12 points higher than Bolsonaro's

By Bruce Douglas

BRASILIA
Petroleumworld 10 16 2018

 

Saudi response on Khashoggi situation boosts oil prices already moving toward $100

Video: Oil Is 'Good Place to Be' at This Point of The Cycle, Tribeca's Liu Says

- U.S. sees Saudi denial of Khashoggi involvement as untenable
- Saudis vow to retaliate to any measures using economic clout

By Heesu Lee and Javier Blas

SEOUL/LONDON
Petroleumworld 10 15 2018

Oil prices move oil majors to offload Gulf of Mexico fields and hunt for bigger finds

Exxon Mobil

The Stena Carron drill ship located off Georgetown, Guyana.

- Shell, Exxon are considering sales off U.S. coastline
- Higher oil prices incentivize ‘go big or go home' strategy

By Kevin Crowley and David Wethe

HOUSTON
Petroleumworld 10 15 2018

Global supply rose to 100.3 million barrels a day, world's daily oil & liquids record

Barani Krishnan/Reuters

World oil and liquids supply surpassed 100 million barrels a day for the first time

- 3Q production rises to 100.3 million barrels a day, IEA says
- OPEC, Americas and biofuels lead increases in global output

By Dan Murtaugh

SINGAPORE
Petroleumworld 10 12 2018

The world is pumping out more oil and other petroleum liquids than ever before.

YPF Energia Electrica in talks to sell stake to Asian Fund

ahorroenergetico.net


- Argentine oil company to sell 24.99 percent of YPF Luz
- Fund negotiating stake after Blackstone deal fell through

By Pablo Rosendo Gonzalez

BUENOS AIRES
Petroleumworld 10 12 2018

Trump is changing the global oil trade flows

Source: BP , Oil major trade movements 2017 – trade flows worldwide (million tonnes)

- China buys more African oil, less from U.S. amid trade spat
- Iran sanctions force Asian buyers to look elsewhere for supply

By Alex Longley and Bill Lehane

LONDON
Petroleumworld 10 11 2018

U.S. President Donald Trump is redirecting global oil flows.

U.S. EPA shakes up science panel that guides pollution rules

luke sharrett / bloomberg


- EPA Acting Administrator Andrew Wheeler announced “highly qualified.” five new members
- They are not active researchers and scientists in the field - Andrew Rosenberg, director of the Union of Concerned Scientists' Center for Science and Democracy.

By Jennifer A Dlouhy

WASHINGTON
Petroleumworld 10 11 2018

Oil market enters ‘Red Zone', IEA urges OPEC to open the taps


Video: Expensive energy is back, Fatih Birol says.

- Venezuelan output is in free-fall, Iran sinking: Fatih Birol
-
‘Expensive energy' is back when global economy already shaky By Javier Blas, Grant Smith, and Francine Lacqua

LONDON
Petroleumworld 10 10 2018

Oil trades beyond $74 on speculation Hurricane Michael may worsen supply risk


Michael to Hit Florida as a ‘Dangerous' Category 4 Hurricane

- IEA asks OPEC to increase output as market enters ‘red zone'
- WTI remains above $74 a barrel, after gaining 0.9% on Tuesday

By Heesu Lee

SEOUL
Petroleumworld 10 10 2018

 

 

Arriving piles of cash from big oil to skeptical investors

Rich Press/Bloomberg

Video: Demand for Oil Relatively Robust, Says JPMorgan's Darling

- Industry free cash flow to reach $175 billion in 2018: Rystad

- Investors still doubtful of pledges about spending discipline
By Kelly Gilblom

LONDON
Petroleumworld 10 09 2018

Deeper recession in Argentina, slower growth in Brazil - IMF

Rich Press/Bloomberg

Latin America's economy is projected to be the weakest among emerging markets this year.


- Fund cuts Latin America's growth outlook for 2018 and 2019

- Doubts about success of stabilization plan weigh on Argentina

By David Biller

RIO
Petroleumworld 10 09 2018

 

Saudi Crown Prince Mohammed Bin Salman to Trump: We've replaced all Iran's lost oil - interview

Bandar Al-Jaloud/AFP

Crown Prince Mohammed bin Salman - Full interview transcript

- ‘We did our job and more,' crown prince says in interview

- Trump has criticized OPEC for allowing crude prices to rally
By Nayla Razzouk and Stephanie Flanders

DUBAI/LONDON
Petroleumworld 10 08 2018

Brazil's Bolsonaro closes in on Presidency after round-one smashing lead victory

La Republica.pe

Bolsonaro's domination Sunday was so overwhelming that it briefly appeared that he might capture enough votes to forgo the need for a runoff round with first results showing 49 % of the vote and later dropping to 46.2 percent, just short of the majority.

- Ex-Army captain Jair Bolsonaro to face Leftist Fernando Haddad
- Tumultuous election marked by violence and polarization

By Mario Sergio Lima, Raymond Colitt, David Biller, and Aline Oyamada

BRASILIA/RIO/SAO PAULO
Petroleumworld 10 08 2018

Arriving piles of cash from big oil to skeptical investors

Rich Press/Bloomberg

Video: Demand for Oil Relatively Robust, Says JPMorgan's Darling

- Industry free cash flow to reach $175 billion in 2018: Rystad

- Investors still doubtful of pledges about spending discipline

By Kelly Gilblom

LONDON
Petroleumworld 10 09 2018

Deeper recession in Argentina, slower growth in Brazil - IMF

Rich Press/Bloomberg

Latin America's economy is projected to be the weakest among emerging markets this year.

- Fund cuts Latin America's growth outlook for 2018 and 2019

- Doubts about success of stabilization plan weigh on Argentina

By David Biller

RIO
Petroleumworld 10 09 2018

 

Saudi Crown Prince Mohammed Bin Salman to Trump: We've replaced all Iran's lost oil - interview


Bandar Al-Jaloud/AFP

Crown Prince Mohammed bin Salman - Full interview transcript

- ‘We did our job and more,' crown prince says in interview

- Trump has criticized OPEC for allowing crude prices to rally
By Nayla Razzouk and Stephanie Flanders

DUBAI/LONDON
Petroleumworld 10 08 2018

Brazil's Bolsonaro closes in on Presidency after round-one smashing lead victory

La Republica.pe

Bolsonaro's domination Sunday was so overwhelming that it briefly appeared that he might capture enough votes to forgo the need for a runoff round with first results showing 49 % of the vote and later dropping to 46.2 percent, just short of the majority.

- Ex-Army captain Jair Bolsonaro to face Leftist Fernando Haddad
- Tumultuous election marked by violence and polarization

By Mario Sergio Lima, Raymond Colitt, David Biller, and Aline Oyamada

BRASILIA/RIO/SAO PAULO
Petroleumworld 10 08 2018

 

 

Trump's OPEC strategy to max-out oil production may backfire

Bloomberg

Video:
Oil Market Is on a Razor's Edge, Says FGE's Fesharaki / Video : Jason Gammel, energy analyst at Jefferies, discusses oil.

- State department says cartel should utilize spare capacity
-
Crude futures rose to 4-year high after Saudis boosted output

By Dina Khrennikova, Jack Farchy, and Elena Mazneva

MOSCOW/LONDON
Petroleumworld 10 05 2018

Far-right Brazil candidate Bolsonaro ahead of final debate, big boost on Datafolha poll


Far-right candidate Jair Bolsonaro. Video: Latin America's biggest economy votes on Sunday.

- Jair Bolsonaro rises to 35 percent in latest Datafolha survey.
- Leftwinger Fernando Haddad remains steady on 22 percent

By Rachel Gamarski

BRASILIA
Petroleumworld 10 05 2018

Emerging markets currencies get a blow as rising oil prices hit importers


Video: Saudi Output Nears Record as Oil Trades Close to 4-Year High

By Paul Wallace

LAGOS
Petroleumworld 10 04 2018

Shell's LNG Canada and trade deals are no help to stalled Trans Mountain Pipeline

Darryl Dyck/The Canadian Press

- Canada open for business again but Alberta oil still stuck
- Indigenous support remains key stumbling block for pipeline

By Natalie Obiko Pearson

VANCOUVER
Petroleumworld 10 04 2018

 

Brazil election poll says Jairo Bolsonaro rising

Andre Coelho/Bloomberg

Second poll confirms far-right candidate is rising in Brazil.

- Datafolha survey released on Tuesday backs up Ibope findings
- Jair Bolsonaro rose four percentage points, Haddad flatlines

By Bruce Douglas

BRASILIA
Petroleumworld 10 03 2018

Oil holds near 4-year high as supply fears counter stockpiles


Video: Commodities have been on a tear recently. Bloomberg's Stephen Stapczynski and James Poole report.

- U.S.-Mexico-Canada Agreement boosts sentiment for oil market
- Drop in Iranian exports and tightening market stokes concerns

By Samuel Robinson

NEW YORK
Petroleumworld 10 03 2018

Oil at $85 level highest since 2014 on supply concerns over Iran and Venezuela


Video:Expect $85 Brent in six months, says Wayne Gordon, executive director at UBS Wealth Management.

- American rig fleet shrinks as crude drillers pause activity

- Brent exceeds $85-a-barrel level for first time since 2014 By Samuel Robinson

NEW YORK
Petroleumworld 10 02 2018

Trudeau notches crucial wins with NAFTA on Trade, Energy ahead of election


Video: Bloomberg's Josh Wingrove reports on the U.S.-Mexico-Canada Agreement.

- Nafta deal bolsters loonie and eases investment uncertainy
- Shell-led group also poised to back $31 billion LNG terminal

By Theophilos Argitis and Josh Wingrove

OTTAWA
Petroleumworld 10 02 2018

Brazil election poll says Jairo Bolsonaro rising

Andre Coelho/Bloomberg

Second poll confirms far-right candidate is rising in Brazil.

- Datafolha survey released on Tuesday backs up Ibope findings
- Jair Bolsonaro rose four percentage points, Haddad flatlines

By Bruce Douglas

BRASILIA
Petroleumworld 10 03 2018

Oil holds near 4-year high as supply fears counter stockpiles


Video: Commodities have been on a tear recently. Bloomberg's Stephen Stapczynski and James Poole report.

- U.S.-Mexico-Canada Agreement boosts sentiment for oil market
- Drop in Iranian exports and tightening market stokes concerns

By Samuel Robinson

NEW YORK
Petroleumworld 10 03 2018

Oil at $85 level highest since 2014 on supply concerns over Iran and Venezuela


Video:Expect $85 Brent in six months, says Wayne Gordon, executive director at UBS Wealth Management.

- American rig fleet shrinks as crude drillers pause activity
- Brent exceeds $85-a-barrel level for first time since 2014

By Samuel Robinson

NEW YORK
Petroleumworld 10 02 2018

Trudeau notches crucial wins with NAFTA on Trade, Energy ahead of election


Video: Bloomberg's Josh Wingrove reports on the U.S.-Mexico-Canada Agreement.

- Nafta deal bolsters loonie and eases investment uncertainy
- Shell-led group also poised to back $31 billion LNG terminal

By Theophilos Argitis and Josh Wingrove

OTTAWA
Petroleumworld 10 02 2018

Oil at $100 a barrel is coming, what does it mean for global growth?

Taylor Weidman / Bloomberg

What oil at $100 a barrel would mean for the global economy

- Bloomberg Economics reckons pain not as bad as in 2011
- Rising oil has different impacts on different economies By Enda Curran and Michelle Jamrisko

HONG KONG / SINGAPORE
Petroleumworld 10 01 2018

IMO rules to curb ship-fuel emissions a blow to economies of Venezuela, Mexico and Ecuador

Patrick T. Fallon / Bloomberg

Venezuela faces fresh blow with ship-fuel rules threatening exports

- PDVSA's exports of fuel oil at risk with upcoming IMO rules
- Regulation also to weigh on prices of Venezuelan sour crudeBy Lucia Kassai

HOUSTON
Petroleumworld 10 01 2018

 

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