Oil futures fell in Asian trade on Thursday, with U.S. crude hitting its lowest level in more than two weeks, amid renewed worries of global oversupply after inventories in the Continue Reading
Oil futures rebounded in Asian trade on Wednesday, buoyed by a less than expected build in crude oil stockpiles last week and a weakening dollar, but concern that a two-month Continue Reading
Pierre Andurand, a hedge-fund manager who predicted the oil collapse, said crude is starting a “multi-year bull run” because low prices have curbed supply. Crude futures, currently trading near $40 Continue Reading
OPEC oil output is rising in March, a Reuters survey found, as higher supply from Iran after the lifting of sanctions and near-record exports from southern Iraq offset maintenance and Continue Reading
Iran is expected to add half a million barrels of oil supply a day within a year from its existing oilfields after the lifting of sanctions against Tehran in January, Continue Reading
Iran ’s supreme leader backed the country’s missile program on Wednesday, criticizing a prominent ayatollah who had suggested that in the future, negotiations were far more important. Defending the military’s Continue Reading
Libya’s United Nations-backed unity government finally assumed office in Tripoli on Wednesday despite opposition within two existing administrations and threats of violence from some militias based near the capital. Prime Continue Reading
Saudi Arabia cemented its position as India’s top crude oil supplier in February, exporting 60% more crude than it did in February 2015 and 24% more than January, and leaving Continue Reading
Venezuela’s opposition-controlled congress upheld a campaign promise and approved an amnesty law late Tuesday that is likely to deepen an institutional standoff with President Nicolas Maduro. Voting across party lines, Continue Reading
The crisis engulfing the global steel industry is so severe that one of China’s top producers has warned a new Ice Age has set in as mills confront overcapacity and Continue Reading
The United States stands ready to assist Nigeria in diversifying its economy beyond the oil sector, a regional U.S. secretary said from Washington, D.C. The International Monetary Fund warned the Continue Reading
After chopping spending by almost one-third to cope with a crash in oil prices and billions in writedowns that sent profits to the weakest since last decade, China’s energy giants Continue Reading
Old coal plants are increasingly lying dormant, yet new ones keep getting built, according to a new report. The analysis by CoalSwarm, which includes researchers from Greenpeace and the Sierra Continue Reading
Massachusetts became the latest state investigating whether Exxon Mobil Corp. misled investors and the public about how climate change may affect its business. News of the state’s probe came as Continue Reading
The world oil market is starting to resemble the old slapstick gag about the French Foreign Legion. The sergeant needs a volunteer to take a step forward for a dangerous Continue Reading
Oil and gas producer Midstates Petroleum Co Inc raised doubts about its ability to remain as a going concern and said it may need to seek Chapter 11 bankruptcy protection. Continue Reading
Charges that Exxon Mobil misled the public about the potential industry impacts on the environment are tainted by political motivations, the company said. The attorney generals from 20 states announced Continue Reading
The energy-industry downturn has created a huge surplus of helicopters, a sharp turnaround from two years ago when oil-and-gas companies were forced to share rides to and from far-flung oil Continue Reading
Falling oil prices have been a boon to drivers. Now, the thirst for gasoline is revving up the oil market. Increasing gasoline demand has been a force behind the recent Continue Reading
The profitability of oil and natural gas development activity depends on both the prices realized by producers and the cost and productivity of newly developed wells. Overall trends in well Continue Reading
The Virginia State Corporation Commission has approved Dominion Virginia Power’s plan to build a 1,588 MW, natural gas-fired combined-cycle plant in Greensville County, rejecting the assertion by groups representing independent Continue Reading
Paris hosted a delegation of Russian energy officials to review French natural gas needs and prospects for pipeline development, Gazprom said. Gazprom Chairman Alexei Miller led the delegation to meet Continue Reading
For half a century, climate scientists have seen the West Antarctic ice sheet, a remnant of the last ice age, as a sword of Damocles hanging over human civilization. The Continue Reading
Oil futures rebounded in Asian trade on Wednesday, buoyed by a less than expected build in crude oil stockpiles last week and a weakening dollar, but concern that a two-month Continue Reading
Oil rose as the dollar weakened and before U.S. government data forecast to show crude stockpiles expanded for a seventh week. Futures climbed as much as 1.5 percent in New Continue Reading
Oil prices fell to a two-week low Tuesday on concerns that the global market remains too oversupplied to support prices near $40 a barrel. Prices have rallied sharply in recent Continue Reading
A pump jack stands idle in Dewitt County, Texas January 13, 2016. U.S. commercial crude oil stockpiles were seen touching new record highs for the seventh straight week, while gasoline Continue Reading
Oil futures edged lower for a second straight session on Monday in thin trade as European markets observed the Easter holiday and as hedge funds and other big speculators were Continue Reading
American Petroleum Institute (API) crude oil inventory data Oil inventory build of 2.6 mln barrels Cushing draw of 319K barrels Gasoline -1.94 mln bbls Distillate -95K bbls The survey expectations Continue Reading
Hedge funds and other money managers have amassed a near-record number of bullish bets on increasing oil prices, helping push the main international benchmark well above $40 per barrel. By Continue Reading
Iran will attend talks with fellow OPEC members and Russia in Qatar next month without joining their proposal to freeze crude oil production, according to a person familiar with the Continue Reading
Oil ministers from OPEC and non-member countries are looking hard for a recovery in prices, and are hoping their meeting next month will produce an output freeze that can be Continue Reading
Saudi Foreign Minister Adel al-Jubeir said on Sunday that Iran must change its “behaviour” towards his country if it wants normal ties with the oil-rich Sunni kingdom. Jubeir, speaking at Continue Reading
Israel’s energy minister said on Tuesday he believes recent turmoil in the country’s natural gas sector will be resolved within a couple of months, before too much damage is done. Continue Reading
The National Oil Spill Detection and Response Agency (NOSDRA) has confirmed a pipeline blast at an oil field operated by Nigeria Agip Oil Company (NAOC) in Bayelsa. Three maintenance workers Continue Reading
British oil companies with interests in the Falkland Islands suffered a blow on Tuesday when a U.N. commission said that the waters around the South Atlantic archipelago belong to Argentina. Continue Reading
Venezuela’s state-owned oil company PDVSA on Monday said it was the target of a smear campaign after the U.S. Justice Department said three of the firm’s former employees had pleaded Continue Reading
Oil companies operating in Mexico’s deep waters must use national suppliers for 8 percent of the projects by 2025, the government said on Tuesday, a relatively low rate meant to Continue Reading
Argentina’s oil production declined 1.6% in January on the year, extending a slide that started in 1998, energy ministry data shows. Crude production dropped to 524,947 b/d in January from Continue Reading
As the biggest oil crash in a generation prompts producers from Royal Dutch Shell Plc to ConocoPhillips to cancel or delay almost $400 billion in projects, India’s state-run explorer is Continue Reading
Chinese proclamations on coal consumption and the corresponding decline in carbon emissions may be off the mark, a journal study found. A recent report from the Brookings Institution stated coal Continue Reading
High on the Chinese government’s priority list is building leaner, more competitive state companies. But the dismal earnings reported by national oil giants in recent days underscore the difficulties in Continue Reading
China’s natural gas demand has been boosted by price cuts aimed at switching users from coal to the cleaner-burning fuel, according to one of the country’s biggest gas distributors. ENN Continue Reading
Oil’s plunge has reordered the pecking order among China’s biggest explorers. (Bloomberg) — Oil’s plunge has reordered the pecking order among China’s biggest explorers. China Petroleum & Chemical Corp.’s move Continue Reading
Plunging global crude oil prices crimped 2015 earnings for China’s trio of oil companies, according to their annual reports. China National Offshore Oil Corporation (CNOOC), China’s largest offshore oil and Continue Reading
With seismic testing tied to the oil and gas sector continuing in the Atlantic, an advocacy group called on Washington to make good on clean-energy pledges. The U.S. Bureau of Continue Reading
Construction tied to the natural gas and renewable energy sectors helped add to contract values in Texas, a report from the Dallas Federal Reserve found. A report last week from Continue Reading
Ongoing preparation for the processing of a summer blend of gasoline is behind the steady increase in retail gasoline prices, analysis finds. Motor club AAA reports a national average retail Continue Reading
Oklahoma’s governor defended the state response to the seismic activity attributed to oil and gas development against a federal report on the hazard. “Oklahoma remains committed to doing whatever is Continue Reading
Alpha Natural Resources Inc. is asking a bankruptcy judge to let it slash retiree benefits and tear up existing labor agreements with its mine workers union, warning that its survival Continue Reading
