U.S. LNG Exports Make Waves Abroad, Not at Home
The first seaborne export of natural gas this week from the continental U.S. is a game changer. Coming just two months after another major milestone —the lifting of a decadeslong Continue Reading
US Shale Oil Drillers Finally Buckling as OPEC Pumps On
U.S. oil drillers are finally beginning to buckle. For more than a year, American oil producers found a way to keep pumping despite a worldwide slide in crude prices. Like Continue Reading
Baker Hughes: US Oil Drillers Cut Rigs For 10th Week In A Row
U.S. energy firms this week cut oil rigs for an 10th week in a row to the lowest levels since December 2009, data showed on Friday, as some producers focus Continue Reading
Asset sales dominate as U.S. energy sector steers clear of big deals
Distressed asset sales are likely to dominate dealmaking in the U.S. energy industry this year as volatile oil prices put executives off major acquisitions. Normally strong companies buy weaker rivals Continue Reading
U.S. Bid to Prosecute BP Staff in Gulf Oil Spill Falls Flat
A critical moment in the government’s case against Robert Kaluza, who was facing a criminal charge for his role in the 2010 BP PLC oil spill in the Gulf of Continue Reading
“There’s A Feeling Of Bits Of Ice Cracking All At Once” – This Is The ‘Big New Threat’ To Oil Prices
One week ago, we reported that even as traders were focusing on the daily headline barrage out of OPEC members discussing whether or not they would cut production (they won’t) Continue Reading
Eni Promises More Cost Cuts After Net Loss More Than Triples
Eni SpA promised more cost cuts as the recent plunge in global crude prices claimed another major oil industry casualty, tripling the Italian company’s fourth-quarter net loss. To confront the Continue Reading
Oil Set for Weekly Gain as U.S. Demand Rises Amid Producer Talks
Oil rose from its highest closing level in four weeks in New York, heading for a weekly gain amid signs that U.S. gasoline consumption strengthened and speculation that some producers Continue Reading
Oil Prices Shake Off Losses, Turn Positive on Cutback Hopes
Oil prices shook off losses Thursday and ended the day with a gain after Venezuela’s oil minister said his country would meet with other top global producers to discuss efforts Continue Reading
Oil prices fall as global glut offsets prospect of lower U.S. output
Oil futures fell more than half a dollar on Tuesday given worries rising Iranian output would deepen a global oversupply, offsetting expectations of a drop in U.S. production that had Continue Reading
Natural Gas Plummets After Supply Data Miss Expectations
Natural gas sold off sharply Thursday, touching a new 17-year low, as weekly U.S. data showed supplies falling far less than expected and underscoring robust production and weak gas-fired heating Continue Reading
Oil Price And Its Effect On Production
The JODI Oil World Database came out a few days ago. The data is through December 2015. The JODI C+C production numbers differs somewhat from the EIA numbers. The JODI Continue Reading
Oil industry sees Paris climate deal as chance to innovate
If a crisis is a terrible thing to waste, the oil industry sees the Paris climate accord not as a death knell, but an opportunity to innovate and even grow. Continue Reading
Russia, Syrian army pound rebels ahead of fighting halt
Russian warplanes fly in the sky over the Mediterranean coastal city of Latakia, Syria January 28, 2016. Russian warplanes bombed Syrian rebel-held areas in northwestern Syria and government forces pounded Continue Reading
Two suicide bombers kill 15 at Shi’ite mosque in Baghdad
Two suicide bombers blew themselves up at a Shi’ite mosque in Baghdad on Thursday, killing at least 15 people in an attack claimed by Islamic State militants. Fifty other people Continue Reading
As Bombs Hit Syrian Hospitals, Medical Workers Fear They Are the Target
The hospital in the northern Syrian town of Maarat al-Noaman was not just grazed, or damaged, by the airstrikes last week. It was completely destroyed, taking a direct hit that Continue Reading
UPDATE: Construction begins on new Missan refinery
Updates include: Satarem owns 15 percent, Wahan owns 85 percent Funded by China Development Bank and the Export-Import Bank of China Comments by senior oil officials Swiss industrial firm Satarem Continue Reading
Fighting in Syria rages ahead of cease-fire
Warring parties in Syria’s multifaceted civil war have continued to fight and jostle for territory on Friday ahead of a partial cease-fire that is supposed to come into effect at Continue Reading
Iranians vote in contest likely to shape post-sanctions era
Iran’s Supreme Leader Ayatollah Ali Khamenei casts his vote during elections for the parliament and Assembly of Experts, which has the power to appoint and dismiss the supreme leader, in Continue Reading
Algeria to Cope With Effects of Drop in Oil Prices Through Sound, Strict Policy
President of the Republic Abdelaziz Bouteflika affirmed Wednesday that Algeria is determined to “cope with the effects of the drop in oil prices through a sound and strict development economic Continue Reading
Iran Seeks Oil Barter as European Buyers Face Bank Hurdles
Iran is offering to swap exports of crude oil for imports of refined fuel as some European customers struggle to find banks to process payments, a sign the Middle Eastern Continue Reading
Moderates test hardliners’ grip on power in Iran vote
. Friday’s vote for Iran’s parliament and the Assembly of Experts, the body that will pick the next supreme leader, have assumed an importance well beyond the perennial battles between Continue Reading
Top Iranian reformist predicts victory for Rouhani allies in polls
Iranian former vice-president Mohammad Reza Aref speaks during a reformist campaign for upcoming parliamentary election, in Tehran February 18, 2016. A senior reformist candidate forecast victory for allies of Iranian Continue Reading
Saudi Aramco Releases Tenders For Ras Tanura Refinery Project
Saudi Arabian Oil Company, known as Saudi Aramco, has released the full commercial and technical tenders for its planned $2 billion clean fuels project at its Ras Tanura refinery, according Continue Reading
Saudi Arabia is reeling from falling oil prices. And it could get much worse.
Stung by falling oil prices, Saudi Arabia has cut spending and subsidies as part of harsh austerity measures that threaten the lavish welfare programs underpinning its stability. The oil-exporting giant’s Continue Reading
U.S. Plans to Put Advisers on Front Lines of Nigeria’s War on Boko Haram
The Pentagon is poised to send dozens of Special Operations advisers to the front lines of Nigeria ’s fight against the West African militant group Boko Haram, according to military Continue Reading
Bill to Open Brazil’s Offshore Oil Fields to Foreigners Still Faces Fierce Opposition
Legislation to open coveted offshore oil fields in Brazil to foreign players took a major step forward this week, but still faces fierce resistance from opponents who consider the measure Continue Reading
Mansion sales and discount dining: oil rout hits Houston’s rich
Prices for mansions in Houston’s swankiest neighborhood have tumbled in lock step with crude prices. The Houston Opera has offered free season tickets to patrons who lost their jobs in Continue Reading
Halliburton to slash 5,000 more jobs amid oil slump
Oilfield services provider Halliburton Co ( HAL.N ), pressured by a prolonged slump in crude oil prices, will further slash its workforce by about 8 percent, or by 5,000 jobs, Continue Reading
Oil refineries’ booming profits set to slow this year
Oil refiners are set to enjoy another year of robust profits as feedstock prices remain low, but new plants and slower global growth mean 2016 will not be a boom Continue Reading
Apache Loss Widens Sharply
Apache Corp. APA -2.10 % said its fourth-quarter loss widened sharply as the oil-and-gas producer was hit by a big write-down and lower revenue tied to slumping commodities prices. The Continue Reading
Premier Oil’s Losses Widen After Write-Downs
Premier Oil PMO -5.45 % PLC, one of the U.K.’s biggest independent oil companies, on Thursday reported a wider full-year loss after it wrote down the value of some of Continue Reading
Canadian oil production expected to increase despite lower prices
Canada Note: Other includes condensate, natural gas liquids, and refinery processing gain. Despite lower crude oil prices, EIA expects Canadian oil production to continue increasing through 2017. Canadian oil sands Continue Reading
Rail continues to dominate coal shipments to the power sector
Note: Other includes pipeline, other waterway, Great Lakes barge, tidewater pier, and coastal ports. Intermodal transit uses multiple modes of delivery. Data for 2015 are preliminary. U.S. electric power generators Continue Reading
With U.S. Gas, Europe Seeks Escape From Russia’s Energy Grip
On the deck of this floating gas terminal, Mantas Bartuska awaits a tanker to pass a narrow inlet on the Baltic Sea with the first natural gas shipments from the Continue Reading
Oil sector aims for profits at $50 crude
Outside the energy industry’s premier conference in Houston this week, a qualified petroleum engineer, immaculately dressed in suit and tie, has been holding up a sign saying: “Please hire me!” Continue Reading
IHS CERAWeek: Texas likely to see ‘wave’ of new solar power generation: panel
A top Texas power regulator, a grid operator and two corporate executives focused much of their panel discussion Thursday at IHS CERAWeek on distributed generation, agreeing that a “wave” of Continue Reading
IHS CERAWeek: US coal industry entering new, leaner chapter: executives
The US coal industry has entered a “new chapter” as mounting stockpiles and plummeting natural gas prices have turned the page to a leaner, more consolidated industry, a panel of Continue Reading
British oil and gas production rises
Total British net energy production increased last year for the first time in nearly 20 years in part because of new gas output, the government said. The British government released Continue Reading
Electric Car War Sends Lithium Prices Sky High
With lithium prices skyrocketing beyond wildest expectations, talk heating up about acquisitions and mergers in this space and a fast-brewing war among electric car rivals, it’s no wonder everyone’s bullish Continue Reading
UK crude oil output surges 14% in 2015, first rise since 1999
Crude, NGL exports increase by 6.2% UK crude oil production surged by almost 14% in 2015 to 42.640 million mt, or 882,000 b/d, the first significant annual increase since 1999, Continue Reading
Eni Posts Fourth-Quarter Loss as Lower Oil Prices Bite
Oil, gas production rose 14% to highest in five years Eni SpA reported a fourth-quarter loss after the slide in energy prices deepened even as the company’s oil and gas Continue Reading
Here’s How Electric Cars Will Cause the Next Oil Crisis
A shift is under way that will lead to widespread adoption of EVs in the next decade. Your browser does not support the video tag. With all good technologies, there Continue Reading
Oil Declines as U.S. Crude Stockpiles Expand Further Amid Glut
Oil declined as expanding U.S. crude inventories kept supplies at the highest level in more than eight decades. Futures lost as much as 2.2 percent, erasing a 0.9 percent gain Continue Reading
Oil Slides Further After Saudi Arabia Dismisses Production Cut
Oil prices slid further on Wednesday after Saudi Arabia dismissed the possibility of a production cut and traders expected another increase in U.S. oil stockpiles. Brent crude, the global oil Continue Reading
World’s oil bosses eyeing more pain try to look past 2016
The world’s top oil executives gathered in Houston this week seem to agree on one thing: this year is set to be so horrible that many skip right to 2017 Continue Reading
U.S. oil sent to Israeli refineries
Dutch oil trader Trafigura confirmed it delivered a cargo of crude oil sourced from U.S. basins to Israeli refineries in an early start for U.S. oil deliveries. Trading company Vitol, Continue Reading
Saudi Oil Minister Surprises OPEC with Tough Line on Prices
Saudi Arabian Oil Minister Ali al-Naimi surprised fellow members of the Organization of the Petroleum Exporting Countries on Tuesday when he said the kingdom was prepared to let oil prices Continue Reading
Around half Iran’s Feb fuel oil exports seen set to end up in Singapore
Around half of Iran’s estimated 1.2 million mt of fuel oil exports loading in February are expected to end up in Singapore, market sources said this week. Iran is believed Continue Reading
A Radical Idea to Rebuild a Shattered Libya: Restore the Monarchy
The deserted royal palace here, hidden behind locked gates and an overgrown garden, stands as a monument to Col. Muammar el-Qaddafi ’s virulent rejection of Libya ’s monarchy. Colonel Qaddafi Continue Reading