Oil

Jets used for corporate travel by Russian state-owned oil major Rosneft flew at least 13 times to Mallorca, Ibiza, Sardinia and the Maldives when CEO Igor Sechin or people from his social circle were in the same vacation spots. Using publicly available data, Reuters tracked 290 Rosneft flights between January, 2015 and May, 2019. Of those round trips, 96 took place during Russian public holidays or between Friday lunchtime in Moscow and [...]

The 1930s was the boom decade of East Texas. On Oct. 3, 1930, the Daisy Bradford 3 oil well near Kilgore came in as a gusher and marked the discovery of the largest oilfield in the United States. Oil wells were drilled as fast as possible and many landowners went from rags to riches. The [...]

The year was 1996. The jalebi became synonymous with a brand of cooking oil thanks to a now iconic ad that featured a little boy and his love for the spiralled sweet. Two decades on, that is not a connect any oil company would want. No company would dare to sell cooking oil showing any [...]

Nutrients found in foods rich in monounsaturated fatty acids (MUFA) such as olive oils, nuts and avocados are linked to general intelligence, according to a study. The researchers found that general intelligence was associated with the brain’s dorsal attention network, which plays a central role in attention-demanding tasks and everyday problem solving. In particular, general [...]

Prime Minister Narendra Modi held talks with Russian President Vladimir Putin on Monday and discussed ways for boosting bilateral trade and investment, especially in the oil and natural gas sector. The two leaders met in this southeastern Chinese city on the sidelines of the BRICS Summit. “The two sides basically touched upon several aspects of [...]

 With more than $90 million in cash, the capital is available to support the development of the rich oil reserves offshore Senegal, an Australian company said. FAR Ltd., an Australian energy company and one of the early movers into West Africa, said two blocks offshore Gambia hold at least 1 billion barrels of oil. Offshore [...]

Oil output from Texas, the No. 1 producer in the country, for August, the last full month for which data are available, was higher than last year, data show. The Railroad Commission of Texas, the state energy regulator, reported preliminary production of crude oil averaged 2.4 million barrels per day, about a half percent higher [...]

Crude oil futures rose on Thursday, adding to the previous session’s rally on optimism over an OPEC plan to curb output, while stocks fell as Deutsche Bank tumbled after a report said trading clients have withdrawn excess cash and positions held in the largest German lender. Energy stocks fared better than the rest of the [...]

– Three new oil developments in the Fort McMurray area could add up to 95,000 barrels of oil per day to current output, Alberta’s government said. The provincial government approved three oil sands developments, two of which involved the use of steam stimulation. Collectively, the government said the projects represent about $3 billion in investments [...]

– Finding more oil and natural gas in mature areas of the North Sea confirm the staying power of operations in Norwegian waters, an explorer said. The exploration and production subsidiary of French energy company ENGIE said itmade a discovery near the existing Gjoa field in the Norwegian waters of the North Sea. “The discovery [...]

The Russian Central Bank said Friday it was lowering its key rate because of the potential for slow economic growth and oil priced around $40 per barrel. For the first time since June, the bank said it lowered its key rate by a half percent to 10 percent, saying it was forecasting “unstable economic activity.” [...]

The prospects of growing supplies of oil on the market offset the latest OPEC chatter on rebalancing efforts to push oil prices lower in early Friday trading. Oil drifted around in volatile trading Thursday as key economic indicators bounced off underlying questions about the gap between oil supplies and global demand. Libya and Nigeria, two [...]