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Crude Oil News

Renewable Energy Startup Powering Native American Protest Camp

Renewable Energy Startup Powering Native American Protest Camp

BoxPower, a Princeton-based renewable energy startup, is powering the campsite of a Native American tribe protesting the construction of the Pilgrim oil pipeline.Princeton entrepreneurs Angelo Campus and Aaron Schwartz are powering the off-grid protesters via solar panels, according to a new Forbes report. The company provided one of their one-off…

Tullow awarded four licences in Côte d’Ivoire

Tullow awarded four licences in Côte d’Ivoire

10/12/2017 LONDON -- Tullow Oil has announced that it has acquired 90% stakes in four onshore blocks in Côte d’Ivoire. Petroci, the national oil company of Côte d’Ivoire, holds the remaining 10%. The four blocks - CI 518, CI519, CI301 and CI302 – cover 5,035 km2…

FLNG forges ahead in Africa

FLNG forges ahead in Africa

Global LNG supply is set to race ahead of demand, but floating LNG projects are forging ahead, and they are doing so in Africa, backed in part by China. The continent’s first FLNG vessel has been completed and is due to reach Cameroonian waters in November. The Hilli Episeyo has…

South Africa seeks oil talks with Glencore, Vitol as legal spat looms

South Africa seeks oil talks with Glencore, Vitol as legal spat looms

By Paul Burkhardt on 10/11/2017 JOHANNESBURG (Bloomberg) -- South Africa plans to engage with traders who acquired strategic oil reserves two years ago, even as it prepares legal action to try to cancel the deal. The Strategic Fuel Fund, responsible for managing the reserves, sold 10 MMbbl…

North Asia’s Saudi crude buyers receive up to 10% cut in November allocations – Oil

North Asia’s Saudi crude buyers receive up to 10% cut in November allocations – Oil

A number of Saudi crude oil buyers in North Asia have received up to a 10% reduction from their term volumes for November loadings, market sources said Tuesday, a day after Saudi Arabia announced it was preparing to keep its supply allocations for that month a record 560,000 b/d below…

Petrofac signs major deal with Gazprom’s Middle East arm

Petrofac signs major deal with Gazprom’s Middle East arm

Home / NEWS / Petrofac signs major deal with Gazprom's Middle East arm by Indrajit Sen on Oct 11, 2017 The contract win strengthens Petrofac's footprint in the Iraqi market. Petrofac has secured a three-year master services agreement (MSA) to support Gazprom Neft Middle East B V (Gazprom Neft) with the provision…

Crude storage costs fall as WTI curve flattens: In the LOOP

Crude storage costs fall as WTI curve flattens: In the LOOP

The price of front-month sour crude oil storage at the Louisiana Offshore Oil Port fell 5 cents/b month on month even as imports to the US Gulf Coast increased over the same period to pre-Harvey levels. Matrix Markets hosts, on behalf of LOOP, a monthly auction in which the oil…

Total reinforces its exploration in West Africa

Total reinforces its exploration in West Africa

10/9/2017 Source: Total. PARIS -- Total and the National Office of Petroleum of Guinea (ONAP) signed a Technical Evaluation Agreement to study deep and ultra deep offshore areas located off the coast of Guinea Conakry, covering approximately 55,000 km2. “By taking this position on a…

Russia’s Rosneft goes big into natural gas

Russia’s Rosneft goes big into natural gas

Rosneft has recently inked a number of deals which could facilitate the company’s ambitions to develop international gas trading and export operations, the latest stage in a long-running attempt to become a major gas player and access the lucrative export market. Rosneft initially announced plans for a significant ramp up…

Saudi Aramco CEO says no Russian discussions over participation in IPO – Energy,Saudi Arabia

Saudi Aramco CEO says no Russian discussions over participation in IPO – Energy,Saudi Arabia

Saudi Aramco isn’t talking with any Russian companies about possible participation in its initial public offering, the head of the state oil producer said as Saudi Arabia’s king led a delegation on a historic visit to Russia. Aramco plans to sell about 5 percent of its shares by the end…

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