Almost two years after SDG&E proposed its Electric Vehicle Grid-Integration (VGI) pilot project (April 2014), the California Public Utilities Commission (CPUC) approved a modified version of the program, enabling the Continue Reading
The first signs are emerging that falling commodity prices are starting to hurt U.S. defense exports, as companies deal with varying levels of demand for equipment, especially in the Middle Continue Reading
Shipments of crude oil by railroad into California plummeted by 69 percent in 2015 amid the price collapse in oil and the shrinking difference in international and U.S. prices. California Continue Reading
U.S. economic growth likely braked sharply in the fourth quarter as businesses doubled down on efforts to reduce an inventory glut and unseasonably mild weather cut into consumer spending on Continue Reading
Total US petroleum deliveries, a measure of consumer demand, averaged 19.7 million b/d in December, a 1.1% increase over December 2014, according to the American Petroleum Institute’s latest Monthly Statistical Continue Reading
Bakken Shale producer Oasis Petroleum unveiled a rough capital spending plan on Thursday that would allow production to slide 1%-9% in 2016 while spending 33% less than last year, a Continue Reading
Source: U.S. Energy Information Administration, natural gas pipeline State-to-State Capacity and Pipeline Projects spreadsheets Note: Capacity in 2015 reflects a combination of existing and planned or under-construction projects. Capacity in Continue Reading
Here’s how bad things are getting in the oil patch: In some cases it is now cheaper for energy companies to buy one another rather than drill for crude. A Continue Reading
Spending $380 million to build a stronger footprint in the Montney shale basin in Canada fits with creating a low-risk profile, Enbridge Inc. said. Enbridge acquired gas plants and pipeline Continue Reading
Though a 40-year-ban on crude oil exports from the United States was lifted, federal data show total crude oil exports up only marginally from last year. Trading company Vitol, which Continue Reading
Not even bankruptcy is stemming the U.S. coal glut. Production at coal miners that declared bankruptcy in the past four years rose 3 percent on average, through the third quarter, Continue Reading
Enterprise Product Partners LP ( EPD.N ), among the first companies to export U.S. crude after the lifting of a decades-old ban, said on Thursday that the current oil price Continue Reading
The dollar fell broadly on Thursday as a plunge in U.S. durable goods orders supported the view of weakening U.S. growth due to softer global demand, which may cause the Continue Reading
For Russia’s battered economy, 2016 already looks miserable. The ruble has slumped to record lows as oil prices have fallen 11 percent since Jan. 1, to around $30 a barrel. Continue Reading
The day we hit “peak oil” will be a definitive moment in the history of resources and energy consumption. Throughout our lifetime we have been warned of the implications of Continue Reading
Oil rose toward $34 per barrel on Thursday, hitting a three-week high and bouncing well off a 12-year low set this month, supported by the possibility that major producers may Continue Reading
Oil futures fell on Wednesday, after a surprise rise in U.S. inventories wiped out the optimism that had built up the day before over the potential for the world’s largest Continue Reading
How bad is the oil bust? Even the big believers in an inevitable rebound are hedging their bets. But wary of the sharp price declines that stung early bargain hunters, Continue Reading
The world’s biggest oil companies are asking tanker operators to slow down delivery of crude amid an ever-expanding supply glut on land, Europe’s largest owner of supertankers said. Tankers hauling Continue Reading
Glencore Plc is said to be storing oil on ships off the coast of Singapore and Malaysia as a market structure known as contango allows traders to benefit from holding Continue Reading
The EIA’s Monthly Energy Review just came out. They have the U.S. production numbers through December along with World, OPEC C+C, Non-OPEC and selected Non-OPEC nations through October. All EIA Continue Reading
Ilham Aliyev, Azerbaijan’s president Officials from the International Monetary Fund and the World Bank are heading to Azerbaijan to discuss a possible $4bn emergency loan package in what risks becoming Continue Reading
Less than a fortnight after a decade of crippling economic sanctions on Iran ended, President Hassan Rouhani is being treated to red carpets, dinners with top CEOs and billion-dollar deals Continue Reading
Photo Palmyra, Syria, in March 2014, before it fell to militants of the Islamic State. Credit Sergey Ponomarev for The New York Times Two top United Nations relief officials expressed Continue Reading
The Pentagon is ramping up intelligence-gathering in Libya as the Obama administration draws up plans to open a third front in the war against the Islamic State. This significant escalation Continue Reading
The US is considering a new campaign of military action in Libya against Isis, the Pentagon said on Wednesday, amid worries that the jihadist group could seize control of a Continue Reading
Call it the Saudi calculus. Oil prices were already plummeting 14 months ago when, at Saudi Arabia ’s insistence, OPEC put the global petroleum industry on notice: The member countries Continue Reading
Along the King Fahd highway in downtown Riyadh, signs of the country’s wealth glitter and dazzle. Monuments include the massive Kingdom Centre – instantly recognisable by the giant bottle-opener feature Continue Reading
Nigeria’s revenue agency said Trafigura Beheer BV owes back taxes for handling 12.5 million metric tons of crude through crude swap contracts with the government between between 2011 and 2014. Continue Reading
The Mexican government is considering a capitalization of Petróleos Mexicanos to bolster its working capital, but requires that the state oil company come up with a plan to cut costs Continue Reading
Two proposed pipeline projects will have to wait longer for a verdict from the Canadian government and will have to submit to carbon-emissions testing to gain approval as part of Continue Reading
While airlines are in no rush to pass on fuel savings to passengers brought by the collapse in oil prices, the Houston travel market has left them little choice. Airlines Continue Reading
Hess Corp. deepened its loss in its fourth quarter amid big drops in energy prices. The company, however, reaffirmed its 2016 production forecast, predicting 330,000 to 350,000 barrels of oil Continue Reading
Though oil production continues to withstand weaker prices, the environment in the Texas oil and gas sector is in decline, an economist said. “We’ve not begun the year moving in Continue Reading
U.S. shale player Continental Resources said weakness in the energy sector will manifest itself in a slow decline in overall production through 2016. Continental said in a statement laying out Continue Reading
A day after announcing a cut in spending, Hess Corp. said it took a net loss of $396 million for the fourth quarter against $53 million in income year-on-year. Most Continue Reading
The Federal Reserve headquarters in Washington September 16 2015. The Federal Reserve kept interest rates unchanged on Wednesday and said it was “closely monitoring” global economic and financial developments, but Continue Reading
Russian officials have decided they should talk to Saudi Arabia and other OPEC countries about output cuts to bolster oil prices, the head of Russia’s pipeline monopoly said on Wednesday, Continue Reading
The Scottish government said it would call on its British counterparts to create a favorable climate for North Sea investments in exploration and production. “There is no doubt the industry Continue Reading
Oil prices slid on Wednesday, ahead of key data expected to show another increase in U.S. crude stockpiles that would add to the already oversupplied global market. The American Petroleum Continue Reading
Oil futures fell on Wednesday, after a surprise rise in U.S. inventories wiped out the optimism that had built up the day before over the potential for the world’s largest Continue Reading
A change to the North Sea Brent crude oil futures contract will alter the way prices for Brent futures are compared to futures prices for West Texas Intermediate (WTI) crude Continue Reading
Oil prices rose above $30 a barrel Tuesday as traders speculated that large producers might be more willing to cut production, which could alleviate the global glut of crude. Light, Continue Reading
The World Bank has slashed its forecast for crude oil prices by $14 to $37 per barrel for 2016, it said on Tuesday, amid growing supply and weak demand prospects Continue Reading
“On Thursday and Friday last week, the price of Brent crude surged more than 15 percent higher in one of the largest two-day moves on record.” Headline 2: “On Thursday Continue Reading
Oil futures settled higher Tuesday after Iraq’s oil minister said Saudi Arabia and Russia were showing greater “flexibility” over production levels, lifting hopes an output cut could be forthcoming. NYMEX Continue Reading
Some of OPEC’s key players defended their strategy of keeping the taps wide open, saying Tuesday that they are bracing for low oil prices to continue—perhaps until the end of Continue Reading
Iraq’s Oil Minister Adel Abdel Mahdi talks to journalists as he arrives at his hotel ahead of a meeting of OPEC oil ministers in Vienna, Austria, December 2, 2015. OPEC Continue Reading
Italian energy company Saipem said it signed an agreement to explore the option for working in the opening Iranian oil and gas sector. Saipem, a subsidiary of Italian energy company Continue Reading
Iran is pushing to find new ways to extract and export its vast natural-gas reserves, including developing facilities to liquefy the commodity and ship it to Europe in two years Continue Reading
