Faced with declining prices and a global supply glut, US light tight oil production is expected to fall by 800,000 b/d through 2017, but US shale is poised for another Continue Reading
The world’s fuel producers probably won’t curb enough oil production to realign crude supply and demand until early 2017, with the United States making up the bulk of the decline, Continue Reading
When Sheikh Ali Khalifa al-Sabah of Kuwait thinks about today’s plunging oil prices, his mind drifts back to the mid-1980s, when he was forced to sell some of his country’s Continue Reading
The oil industry is set to further reduce spending this year as crude prices remain low, according to the head of the International Energy Agency, signaling more pain for oil Continue Reading
So what do 2,800 or so of the world’s elite energy minds talk about when they gather at Houston’s IHS CERAWeek energy conference? Here’s a taste of what we heard Continue Reading
A senior Opec official on Monday highlighted the likelihood that a reduction in the oil cartel’s production would be filled by an increase in US shale oil output. The comments Continue Reading
The United States and Russia announced plans for a ‘cessation of hostilities’ in Syria that would take effect on Saturday but exclude groups such as Islamic State and al Qaeda’s Continue Reading
The United States and Russia announced an agreement on Monday for a partial truce in Syria , though the caveats and cautious words on all sides underscored the obstacles in Continue Reading
The Syrian government said on Tuesday it accepted a halt to “combat operations” that does not include the Islamic State group, the al Qaeda-linked Nusra Front, or groups connected to Continue Reading
Photo Senegalese commandos during a recent United States-led training exercise in Senegal. Credit Sergey Ponomarev for The New York Times THIES, Senegal — The Islamic State’s branch in Libya is Continue Reading
The head of the International Monetary Fund on Monday urged energy exporters of the Middle East to raise more taxes as governments across the region grapple with a dramatic drop Continue Reading
The Italian government last month quietly began allowing armed American drones to fly out of an air base in Italy for military operations against Islamic State in Libya and across Continue Reading
High-ranking military officials from 30 nations fighting the Islamic State met Feb. 22 in Kuwait City, AFP reported. Security was tight at the meeting, where military leaders from the United Continue Reading
Iraq, struggling with low oil prices and a war with Islamic State militants, may raise $2 billion in Eurobonds this year and will probably ask the International Monetary Fund for Continue Reading
Iran said Monday it expected to renew an energy relationship with German company Siemens, which was suspected of Internet sabotage in 2010. Siemens Chief Executive Joe Kaeser met in Tehran Continue Reading
talian energy company Eni said it received consent from the Egyptian government to lay the groundwork for developing a giant offshore gas basin. Eni said received word from the Egyptian Continue Reading
Banks for members of the Gulf Cooperation Council, which includes Saudi Arabia, face pressure from low oil prices despite government support, Moody’s said. Crude oil prices continue to hold near Continue Reading
Nigerian President Muhammadu Buhari will fly to Saudi Arabia to discuss with King Salman ways to stabilize crude oil prices, the presidency said in a statement on Sunday. Buhari will Continue Reading
Mexico, which ended a 76-year oil monopoly in 2014, is now speeding the liberalization of the fuel market as it seeks to lure investment and push down prices for consumers, Continue Reading
More than 10 million people in India’s capital, Delhi, are without water after protesters sabotaged a key canal which supplies much of the city. The army has took control of Continue Reading
A deal to freeze oil production could help buoy depressed crude prices by $10 to $15 dollars a barrel, according to Venezuela’s Oil Minister Eulogio Del Pino, who called on Continue Reading
A worker speaks as he loads coal on a truck at a depot near a coal mine from the state-owned Longmay Group on the outskirts of Jixi, in Heilongjiang province, Continue Reading
The first red alert over air pollution in the Chinese capital almost brought this city to a standstill in December, with schools shut, construction halted and driving restricted. Now, in Continue Reading
China’s emergence as a major oil product exporter is depressing oil refining margins across Asia as favorable domestic fuel policies encourage Chinese refiners to keep output high and flood regional Continue Reading
Oil and natural gas drillers are reluctant to acquire rivals pummeled by the worst market collapse since the 1980s because of huge debt burdens that would become payable upon takeover, Continue Reading
Oil production in the United States will reach a record high by 2021 as efficiency gains help domestic producers to combat the low prices that are likely to force hefty Continue Reading
In the United States, the East Coast and Gulf Coast are highly dependent on each other to balance supply and consumption of transportation fuels (mainly gasoline, diesel, and jet fuel). Continue Reading
Earlier this month, the U.S. Senate began considering a bill that, if passed, would certify the central role of liquefied natural gas in American foreign policy and help many European Continue Reading
Exploration and production activity in North Dakota continued testing new lows as the rig count dropped 7 percent from last week, state data show. State data show 38 rigs in Continue Reading
Seismic activity in shale-rich Oklahoma was apparent again, with the U.S. Geological Survey recording three minor events in less than 24 hours as of Monday. Three tremors of magnitude-3 or Continue Reading
Oil production in the United States will reach a record high by 2021 as efficiency gains help domestic producers to combat the low prices that are likely to force hefty Continue Reading
Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit U.S. oil and gas producers this year will imperil the $500 billion pipeline Continue Reading
The growth engine of Canada’s energy industry is poised to shut off next decade, according to the International Energy Agency. Production gains from the oil sands in northern Alberta will Continue Reading
The slump in oil prices claimed a victim in the North Sea as closely held First Oil Expro Ltd. went into administration. KPMG LLP was appointed administrator of First Oil Continue Reading
The U.K.’s decades-old offshore oil-and-gas industry is perched “at the edge of a chasm” amid a historic rout in oil prices that is pushing almost half of the sector’s producing Continue Reading
Oil and gas producers in the U.K. North Sea will spend 40 percent less this year than in 2014 as low crude prices force them to tighten budgets, the industry’s Continue Reading
The worsening of tidal flooding in American coastal communities is largely a consequence of greenhouse gases from human activity, and the problem will grow far worse in coming decades, scientists Continue Reading
Brent oil rose as Russia said talks on an output freeze will be done by March 1, while Nigeria said some countries should have production capped at higher levels. Futures Continue Reading
Oil prices jumped on Monday following steep losses in the previous session, supported by a fall the U.S. rig count, but analysts said general oversupply was keeping the market weak. Continue Reading
Major oil-producing nations, seeking to curb a flood of supply that’s cut prices almost in half in the past year, agreed to wrap up talks on capping output by the Continue Reading
U.S. crude oil lingered below $30 a barrel, souring the outlook for Asian equities, as the pound slid amid a split in the U.K.’s ruling political party over whether Britain Continue Reading
Consultations on a preliminary deal between leading oil producers to freeze output should be concluded by March 1 after a group led by Russia and Saudi Arabia reached a common Continue Reading
Oil prices may drop to near $20 a barrel this year as the global glut of crude persists into 2017, Abu Dhabi’s largest lender said. U.S. benchmark West Texas Intermediate Continue Reading
A senior U.S. energy official said he doubted the success of a proposal by OPEC and non-OPEC producers to freeze crude oil output in an oversupplied market and boost prices. Continue Reading
Crude prices will probably stay low for longer than expected, International Monetary Fund Managing Director Christine Lagarde said, urging Gulf Arab oil-producing countries to cut spending and boost revenue through Continue Reading
Iraq’s plan to increase oil production by up to 400 thousand barrels per day in 2016 this year will proceed as planned, despite Iran’s return to the market, Iraqi Oil Continue Reading
As fighting in Iraq raged last summer, Iranian Major-General Qassem Soleimani came across unexpected opposition to his plans to defeat Islamic State. Soleimani is the commander of Iran’s al-Quds brigade Continue Reading
U.S. Secretary of State John Kerry said on Sunday he and his Russian counterpart Sergei Lavrov had reached a provisional agreement on terms of a cessation of hostilities in Syria Continue Reading
The oil price slump means that defense spending in the Middle East will flatten despite an increase in tensions as Gulf Arab states wage war in Yemen and conflicts deepen Continue Reading
“These were major attacks in Homs, two car bombs going off in a residential area” Bomb blasts in the Syrian cities of Homs and Damascus have left more than 100 Continue Reading
