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The latest upstream oil and gas news from around the world.

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India Aims To Cut Petroleum Imports As It Boosts Alternative Fuel Use

Mon, 24 Apr 2017 00:00:00 GMT

India aiming to cut its oil products imports to zero as it turns to alternative fuels such as methanol in its transport sector.

Iran Ranks As No. 2 Oil Supplier To S. Korea First Time For A Quarter

Mon, 24 Apr 2017 00:00:00 GMT

Iran ranked as South Korea's 2nd-biggest oil exporter over the first 3 months of 2017 as it ramped up output to regain market share after sanctions were lifted last year.

Oil Contractor Saipem Turns To Wind To Help Counter Downturn

Fri, 21 Apr 2017 00:00:00 GMT

Italy's Saipem is working to expand new lines of business including wind farms to help it cope with a slump in order books among oil services groups.

Libya Oil Field Idled in 2015 Now Awaits Power to Resume Pumping

Thu, 20 Apr 2017 00:00:00 GMT

Libya's El-Feel oil field is ready to resume production after a two-year halt in operations, but there's a problem: It doesn't have enough electricity to pump the crude.

Russia Agrees On Preliminary Basis To Extend Oil Output Cuts Beyond June

Thu, 20 Apr 2017 00:00:00 GMT

Russia agrees, on a preliminary basis, to extend beyond June the agreement among global oil producers to cut output, Kuwait's oil minister Essam al-Marzouq told reporters.

Eni Shuts Down Oil Center At Major Italy Field After Local Order

Tue, 18 Apr 2017 00:00:00 GMT

Eni says it decided to temporarily shut down a treatment plant serving its biggest domestic oil field in southern Italy to meet a local order.

Dutch To Cut Gas Output To Reduce Earthquake Risk

Tue, 18 Apr 2017 00:00:00 GMT

The Netherlands will reduce production of its Groningen gas field by 10% from October to limit the risk of earthquakes.

Blackstone Bets Gas Money Will Be Made in the Oil Patch

Tue, 18 Apr 2017 00:00:00 GMT

The oil boom in the Permian Basin, America's most prolific crude play, has become a gas boom.

May US Shale Oil Output Seen Rising Most In Over 2 Years

Mon, 17 Apr 2017 00:00:00 GMT

US shale production in May was set for its biggest monthly increase in more than two years, government data shows.

Williams Partners Sharpens Natgas Focus With Petrochem Plant Sale

Mon, 17 Apr 2017 00:00:00 GMT

Williams Partners LP says it will sell its stake in a unit that owns 88.46% of an olefins plant in Louisiana to Nova Chemicals for $2.1B in cash.

Iran Boosts Gas-Output Capacity With New Projects at Giant Field

Mon, 17 Apr 2017 00:00:00 GMT

Iran boosts output by inaugurating six projects at the giant South Pars offshore field.

Dakota Access Pipeline To Start Interstate Service May 14

Fri, 14 Apr 2017 00:00:00 GMT

The controversial Dakota Access Pipeline will begin interstate crude oil delivery on May 14, according to a filing.

Transneft Says 2Q Oil Supplies To Belarus Revised Down To 5 Million Tonnes

Fri, 14 Apr 2017 00:00:00 GMT

Russia will supply 5 million tonnes of oil to Belarus in the second quarter, down from the 6 million tonnes seen previously, Russian oil pipeline monopoly Transneft says.

Nigeria's Military Destroys 13 Illegal Oil Refineries

Thu, 13 Apr 2017 00:00:00 GMT

Nigeria's military says it destroyed 13 illegal refineries in the restive Niger Delta oil hub.

Turkey Sees No Need for Cyprus to Approve Israel Gas Pipeline

Thu, 13 Apr 2017 00:00:00 GMT

A Turkey-Israel gas pipeline deal could be built through Cyprus' economic waters even without Cypriot consent, a Turkish official says.

NOC: Libya's Wafa Oil And Gas Field Reopens, Force Majeure Lifted

Wed, 12 Apr 2017 00:00:00 GMT

Libya's NOC has lifted force majeure on production from the Wafa field after an armed group reopened oil and gas pipelines leading to the Mellitah terminal, the company says.

Saudi Aramco To Supply Full Crude Contract Volumes To Asia

Wed, 12 Apr 2017 00:00:00 GMT

Saudi Aramco will supply full contract volumes of crude oil to at least 3 Asian buyers in May, steady compared to April, industry sources with knowledge of the matter say.

Diversify Or Die: China's Independent Oil Refiners Adapt To New Challenges

Tue, 11 Apr 2017 00:00:00 GMT

China's independent oil refiners are branching out into new sectors to overcome challenges.

Global LNG Market to Double by 2035

Tue, 11 Apr 2017 00:00:00 GMT

The global energy market will have doubled by 2035, says Paul McConnell, Wood Mackenzie research director for global trends.

Libya Halts Sharara Oil Loadings as Biggest Field Shuts Down

Mon, 10 Apr 2017 00:00:00 GMT

Libya's biggest oil field stopped producing just one week after it reopened, forcing the OPEC member to declare force majeure at a key export terminal.