Cheniere Readies First LNG Shipment, Facing Challenging Market
The first ship carrying natural gas from the Gulf Coast is expected to depart soon, marking the emergence of the U.S. as a major exporter and the globalization of the Continue Reading
North Dakota Oil Production Drops Amid Crude Price Slump
North Dakota said Wednesday crude-oil production in December fell 2.5% to the lowest level in more than a year, and the state’s top energy regulator said Bakken Shale output will Continue Reading
Oil flowing from British shale
A British energy company said Wednesday shale oil continued to flow naturally to the surface, a day after it declared high rates from its Horse Hill license. Light, sweet crude Continue Reading
Statoil cancels Maersk rig contract
Norwegian energy company Statoil said Wednesday it decided to cancel a rig contract with Maersk Drilling, transferring the terms to French supermajor Total. The Norwegian company said it decided to Continue Reading
Russia Sees Oil Output Slump in Worst Price Case Amid OPEC Talks
Russian oil production may slump 14 percent in the next five to ten years under a worst case scenario prepared by the Energy Ministry. Crude output may drop to 460 Continue Reading
Oil Rises in Volatile Trade
Oil prices rose in volatile trade on Wednesday, as investors looked for clues whether an agreement between major producers to support prices can hold. Later on Wednesday, Organization of the Continue Reading
Brent Crude Rises as Oil Producer Talks Shift to Tehran
Brent crude advanced as Iran and Iraq were set to meet and discuss backing a proposal by Saudi Arabia and Russia to freeze production at near-record levels amid a global Continue Reading
Oil Prices Rise Sharply as Saudis, Russia Talk Production
Crude-oil prices rose Tuesday as the Saudi Arabian and Russian energy ministers met in Qatar to discuss production, stoking speculation of a production cut or freeze . On the New Continue Reading
Oil edges down; weak China trade data drags
Brent and U.S. crude futures edged lower on Monday as the dollar regained ground and as weak Chinese trade data stoked concerns about demand in the world’s biggest energy consumer. Continue Reading
Saudis, Russia agree oil output freeze, talks with Iran to follow
Top global oil exporters including Russia and Saudi Arabia agreed on Tuesday to freeze output to tackle a global glut but said the deal was contingent on other producers, with Continue Reading
The Glaring Problem With Oil Giants’ Production Freeze
Oil traders aren’t too impressed with Saudi Arabia and Russia’s accord to cap oil production at near-record levels . After rising above $31.50 per barrel when news of this agreement Continue Reading
Oil Freeze: Iraq Ready to Cap Output, Iran to Maintain Share
Saudi Arabia and Russia, the world’s biggest crude oil producers, joined Venezuela and Qatar in an agreement to freeze output in an effort to revive prices from a 12-year low. Continue Reading
Secret Petro-Diplomacy Starts to Pay Off in Echo of ’99 Deal
For more than a year, oil diplomats have been busy behind the scenes trying to forge a deal between OPEC and nations outside the cartel to revive prices by curbing Continue Reading
Saudi, Russia, Qatar, Venezuela Agree to Freeze Oil Output at January’s Levels
Saudi Arabia, Russia, Qatar and Venezuela said Tuesday they wouldn’t increase crude-oil output above January’s levels as long as other major oil producers followed suit, people familiar with the matter Continue Reading
What Saudi Arabia’s Freeze Means for Oil Prices
The more things change in the oil market, the more they stay the same: The agreement Tuesday between Saudi Arabia, Russia, Qatar and Venezuela to freeze oil output falls somewhere Continue Reading
Iran signals tough stance in oil producers’ talks
The SPQ1 gas platform is seen on the southern edge of Iran’s South Pars gas field in the Gulf, off Assalouyeh, 1,000 km (621 miles) south of Tehran, in this Continue Reading
Oil production freeze is only the first step
Oil ministers from Saudi Arabia, Russia, Venezuela and Qatar announced on Tuesday an agreement to freeze their oil output levels provided other major producers follow suit. The deal would freeze Continue Reading
Goldman Says Producers Freezing Oil Output Won’t Help Prices
The first coordinated decision on oil output between OPEC and producers outside the group in fifteen years isn’t going to revive crude prices, according to Goldman Sachs Group Inc. The Continue Reading
Iran and Iraq Under Pressure to Cap Oil Output to Help Raise Prices
A day after Saudi Arabia, Russia and other oil producers agreed to limit their production, the pressure was turned up on Iran and Iraq to join the agreement and help Continue Reading
Rivalries trump resettlement in liberated territory
As the Iraqi government seeks to rebuild and resettle areas liberated from the self-proclaimed Islamic State (IS), Talib Muhammed would seem to be the prototype of an ideal ally.He is Continue Reading
Syria crisis: Government approves aid deliveries, says UN
Image caption Muadhamiya, near Damascus, is one of the areas due to receive help The Syrian government has approved humanitarian access to seven besieged areas, the UN has said. Convoys Continue Reading
Young Saudis See Cushy Jobs Vanish Along With Nation’s Oil Wealth
For decades, the royal family has used the kingdom’s immense oil wealth to lavish benefits on its people, including free education and medical care, generous energy subsidies and well-paid government Continue Reading
GE’s Oil and Gas Chief Explores Opportunities in Iran
The chief executive of General Electric Co. GE 2.12 % ’s oil-and-gas business has visited Tehran to explore business opportunities there, the company said, the first known visit by an Continue Reading
Turkey Says Ground Operation in Syria Is Only Way to Stop War
Turkey amplified the big-power tensions over the increasingly chaotic war in Syria on Tuesday, saying it is in discussions with allies, including the United States, over collaborating on a military Continue Reading
Turkish artillery returns fire ‘in kind’ into Syria: military sources
Turkish artillery has returned fire “in kind” into Syria, military sources said on Tuesday, marking its fourth straight day of shelling across the border. Turkey on Monday warned Kurdish militia Continue Reading
Libya: House Of Representatives Delays Vote On Unity Government
Libya’s internationally recognized parliament in Tobruk, the House of Representatives, decided to postpone a vote on a national unity government until Feb. 23, giving prime minister-designate Fayez Sarraj until Feb. Continue Reading
Ghana: 2020 – Ghana to Produce 500k Barrels of Oil Daily
President John Dramani Mahama has projected Ghana’s oil production to hit half a million barrels per day in 2020. Addressing a business forum in Iran during an official visit, President Continue Reading
Hong Kong Port’s Steady Drop Persists
The Port of Hong Kong is losing its prominent place on global trade maps. The city’s port, which was the world’s busiest as recently as a decade ago, slid to Continue Reading
Why China’s Credit Boom Might Not Pack a Punch
China’s credit monster roared to life in January, but there are reasons this isn’t the powerful force it seems. Total financing in the economy grew strongly in January, led by Continue Reading
China’s Sinopec to shut four oilfields at Shengli: company paper
China’s state-owned Sinopec will shut four oilfields this year at Shengli in the eastern province of Shandong, a company newspaper said late on Tuesday, as low global oil prices take Continue Reading
More Chinese Oil Output Succumbs to Glut Saudis Seek to Cap
As the world’s biggest oil producers show they’re willing to cap output to revive prices, there are increasing signs OPEC’s strategy of driving higher-cost suppliers out of the market by Continue Reading
China commerce ministry denies massive capital outflow
China’s Ministry of Commerce (MOC) on Wednesday denied speculation of capital outflows from the country. “The fundamentals of Chinese economy and market remain sound, and there is no foundation for Continue Reading
Midwest gasoline prices jump as much as 13 cents/gal on refinery cuts
Refinery cuts continued to push up US Midwest gasoline prices Tuesday, with the Chicago market climbing 13 cents/gal. Chicago CBOB was assessed at NYMEX March RBOB futures minus 8 cents/gal, Continue Reading
There’s One Place Where OPEC Can’t Broker an Oil Deal: Texas
Saudi Arabia and Russia have taken the first step to stem the slide in oil prices. There’s just one problem: If they are successful — and that’s a big if Continue Reading
Retail gas prices may be at seasonal low point
U.S. retail gasoline prices continue to fall, though with oil production cuts on the table, consumer may be enjoying the last of the savings, analysts said. Motor club AAA reports Continue Reading
Oil-rich Oklahoma looks to tourism for revenue
The governor of Oklahoma, which is facing a budget gap in part because of low oil prices, said she was looking to tourism as a possible financial life line. “Oklahoma Continue Reading
Statoil starts new energy investment fund
Norwegian energy company Statoil announced the launch of a new $200 million investment fund to help drive a strong renewable energy growth strategy. “The transition to a low carbon society Continue Reading
U.K. Explorer Soars as Oil Flows Near London’s Gatwick Airport
British energy explorer U.K. Oil & Gas Investments Plc gained the most in 10 months after reporting that oil flowed “naturally” to the surface from 900 meters (2,953 feet) below Continue Reading
EU aims for more diverse energy sector
A European energy strategy aims to counter geopolitical threats to supplies while at the same time considering global climate initiatives, a commissioner said. The European Commission presented an energy security Continue Reading
USGC distillate exports to Europe down on month in February
About 1.2 million mt of oil products have loaded in the US Gulf Coast for February discharge in Europe, according to an estimate based on data from cFlow, Platts trade Continue Reading
Maxwell Technologies introduces 3V, 3,000-farad ultracapacitor; 31% higher power than 2.7V cell
Maxwell Technologies, Inc. has introduced the newest addition to its K2 family—a 3-volt (3V), 3,000-farad ultracapacitor cell, now available in sample quantities. With 31% higher power than Maxwell’s leading 2.7-volt, Continue Reading
Just A Distraction
In the end, does the choice of words really matter? The “Yes, we’ve reached Peak Oil” versus the “No, we have not” is a distraction—and I’ve done my part to Continue Reading
Big oil producing countries agree production freeze
Qatar’s energy minister said the world’s big oil producer countries had reached a conditional agreement to freeze production at January levels. Mohammed Bin Saleh Al-Sada said the provisional deal, announced Continue Reading
Saudi, Russia, Qatar, Venezuela Agree to Freeze Oil Output at January’s Levels
Saudi Arabia, Russia, Qatar and Venezuela said Tuesday they wouldn’t increase crude-oil output above January’s levels as long as other major oil producers followed suit, people familiar with the matter Continue Reading
Saudis, Russia agree oil output freeze, talks with Iran to follow
Saudi Arabian Oil Minister Ali al-Naimi talks to journalists before a meeting of OPEC oil ministers at OPEC’s headquarters in Vienna in this file picture taken December 4, 2013. Top Continue Reading
Oil Prices Rise Sharply as Saudis, Russia Talk Production
Crude-oil prices rose Tuesday as the Saudi Arabian and Russian energy ministers met in Qatar to discuss production, stoking speculation of a production cut or freeze . On the New Continue Reading
Oil edges down; weak China trade data drags
Brent and U.S. crude futures edged lower on Monday as the dollar regained ground and as weak Chinese trade data stoked concerns about demand in the world’s biggest energy consumer. Continue Reading
Oil ticks slightly higher, though Japan clouds momentum
Japanese economic data Monday showing lingering weakness provided a throttle on momentum sparked last week by OPEC production cut rumors. The Japanese government reported gross domestic product shrank by an Continue Reading
Oil edges down; weak China trade data drags
Brent and U.S. crude futures edged lower on Monday as the dollar regained ground and as weak Chinese trade data stoked concerns about demand in the world’s biggest energy consumer. Continue Reading
Turkey denies soldiers entered Syria, says has no such plans
Turkish Defence Minister Ismet Yilmaz denied a report that some Turkish soldiers had entered Syria at the weekend and said Ankara was not considering sending troops into its neighbor, the Continue Reading