Tuesday, April 7, 2020

Oil City News

Oil Jumps After US Kills Iran's Soleimani

© qiujusong / Adobe Stock

Oil prices jumped more than $3 on Friday after a U.S. air strike in Baghdad ordered by President Donald Trump killed the head of Iran's elite Quds Force, sparking concerns for an escalation of regional tensions and disruption…

US Oil Workers Leaving Iraq After Air Strike

©  katwijksenieuwe / Adobe Stock

Dozens of U.S. citizens working for foreign oil companies in the southern Iraqi oil city of Basra were leaving the country on Friday, the Oil Ministry said, after a U.S. air strike killed a top Iranian commander in Iraq.The U.S.

Environmental Activists Block BP London HQ

Activists blockade entrances to the BP headquarters in London, demanding an end to new oil and gas exploration. The campaigners arrived at 3 a.m. on Monday and encased themselves in heavy containers before the oil company’s annual general meeting on Tuesday. Other activists are also climbing the building to hang signs from the windows. (© Chris J Ratcliffe / Greenpeace)

Greenpeace activists blocked the entrance to BP's London headquarters on Monday, demanding one of the world's biggest energy companies ends all new oil and gas exploration or goes out of business.Greenpeace activists…

Oil Rises as Kirkuk-Iraqi Fighting Escalates

Iraq forces move into oil-rich, Kurdish-held Kirkuk. Oil markets jumped on Monday as Iraqi forces entered the oil city of Kirkuk, taking territory from Kurdish fighters and raising concerns over exports from OPEC's second-largest producer.

Iraq Opens Up to Agencies on Output Ahead of OPEC Wrangles

Iraq will later this month host influential bodies that assess oil production levels, ahead of an OPEC meeting when the topic will become even hotter as members jostle over allocations. OPEC's second largest producer…

PDVSA Oil Workers Struggle in Triple-Digit Inflation

For decades, jobs at Venezuela's state-run oil giant PDVSA were coveted for above average salaries, generous benefits and cheap credit that brought home ownership and vacationing abroad within reach for many workers.

Iraq Willing to Help Prop up Oil Prices

Oil Minister Jabbar Luaibi

Iraq is willing to play an active role within OPEC to support oil prices, its oil minister Jabar Ali al-Luaibi said on Saturday, without clarifying whether it was prepared to back a possible agreement to freeze output.

Oil Rallies on Canada Fire, Libya Violence

Fort McMurray evacuees told to head to oil sand camps; fighting in Libya escalates, disrupts supplies. A huge wildfire near Canada's oil sands region and escalating tensions in Libya stoked concern among investors over a near-term supply shortage…

Oil Edges up as Traders Worry about Supply from Iraq

Crude oil climbed on Thursday, rebounding from the lowest prices in months as the security situation in northern Iraq deteriorated, reviving concerns about supply disruptions. Brent and U.S. crude both rallied in late-morning trade, after reports that U.S.

Oil Above $105 After Islamic State Advance in Iraq

Brent crude oil rose above $105 a barrel on Thursday as the security situation deteriorated in northern Iraq and Islamist militants made gains against Kurdish forces, advancing closer to the autonomous region's oilfields.

Car bombs in Iraq's Kirkuk Kill Nine

Two car bombs killed nine people in the Kurdish-held Iraqi oil city of Kirkuk on Thursday, police and medical sources said. The explosions near a Shi'ite mosque holding displaced people came after an offensive launched…

Iraqi Kurdish Oil Nears US Port Despite Concern in Washington

A tanker carrying crude oil from Iraqi Kurdistan is just one day away from arriving at a U.S. port, according to ship tracking satellites, despite Washington's long-standing concern over independent oil sales from the autonomous region.

Oil Prices High amid Iraq Violence

Oil prices jumped to nine-month highs on Thursday, as concerns mounted that escalating violence in Iraq could disrupt oil supplies from the second-largest OPEC producer. Sunni Islamist militants, who took over Iraq's second-biggest city Mosul earlier this week…

Oil Prices Spike on Iraq Anxiety, Stocks Dip

Brent at 3-mo high, U.S. U.S. Crude oil prices spiked on Thursday on worries over supply as violence escalated in Iraq, while a worldwide equities gauge edged down after Wall Street opened lower. Crude jumped after Iraqi…

Divorce Costs Could Sour Scotland's North Sea Hopes

Scottish nationalists are betting $2.5 trillion of hydrocarbons trapped miles beneath the North Sea could bankroll an independent Scotland, but winning control of the European Union's largest oil reserves would be no blank cheque.