U.S. crude stockpiles last week rose to a record high for a fourth straight week even as distillate and gasoline inventories fell significantly more than expected, data from the Energy Continue Reading
Market watchers are announcing the demise of the oil majors. Not for the first time. According to Jilles van den Beukel, former geoscientist with Shell, the oil companies are indeed Continue Reading
Oil prices edged lower on Tuesday after Kuwait said it would only agree to an output freeze if all major producers take part and Goldman Sachs analysts poured cold water Continue Reading
Iran sought to reassure investors of its commitment to unveil new and improved oil contracts, downplaying domestic opposition to the return of international energy companies. Mohammad Nahavandian, President Hassan Rouhani’s Continue Reading
Kirkuk health officials confirm respiratory problems among victims and corroborate other details of the Kirkuk Gov. Najmaldin Karim condemns the attack in visit to Taza The attack likely originated from Continue Reading
The crash in the price of oil has hit Angola hard. Hospitals across the country are low on resources, including medicines. There are food shortages in the North, drought in Continue Reading
Angry oil workers have shut down all offices and facilities of the Nigerian National Petroleum Corporation, NNPC, in protest of Tuesday’s splitting of the state oil company by the federal Continue Reading
The minister of state for petroleum resources, Dr Ibe Kachikwu, has disclosed the federal government’s plans to end the importation of petrol within the next 18 months. Disclosing this in Continue Reading
Kenyan government officials are set to hold a meeting with their Ugandan counterparts to resolve outstanding issues with the hope of influencing the proposed crude oil pipeline route infavour of Continue Reading
Venezuela will move to a floating exchange rate for non-essential imports on Thursday and allow the state-owned oil company to sell dollars into the new market, said Miguel Perez Abad, Continue Reading
A meeting between Latin American oil producers to unify the region in backing an output freeze or other measures to bolster prices has been postponed from Friday due to scheduling Continue Reading
From North Dakota to Texas and beyond, oil and gas companies have sharply reined in drilling and thousands of workers are being laid off. But here, where the oil and Continue Reading
While China exacerbated the upswing in the commodity super-cycle, it indirectly sowed the seeds of the bust. Expectations that immense growth in China’s demand for raw materials would continue in perpetuity, coupled with the Continue Reading
A Japanese court issued an injunction to halt two of the four nuclear reactors restarted by the country’s utilities, backing local residents who were worried about a repeat of the Continue Reading
This Friday, it will officially have been 5 years since the Tōhoku earthquake and tsunami disabled Tepco’s nuclear power plant in Fukushima. But despite the passing of 5 years, we Continue Reading
Something is awry in the beleaguered U.S. shale patch: older wells, which normally gush oil or natural gas in their first few months before rapidly depleting, are not petering out Continue Reading
A lack of pipeline space between the Gulf Coast and East Coast is raising the cost of fuel, companies told government regulators Tuesday. Colonial Pipeline Co.’s unwillingness to expand its Continue Reading
The U.S. oil-and-gas industry is bracing for a game of monkey in the middle. Even as prices have plunged over the past 20 months or so, the one part of Continue Reading
U.S. monthly crude oil production in December 2015 continued to decline, as oil production reached its lowest level since November 2014. Production also declined from year-ago levels for the first Continue Reading
Recently, we’ve had more reason than usual to be optimistic on climate change — the world reached its first truly global climate agreement in December , there are a lot Continue Reading
Northwest Peabody Energy, the largest private coal company in the world, is one of the last remaining coal majors to still be floating above the bankruptcy tidal-wave that has hit Continue Reading
The Obama administration is expected to announce its first step toward regulating methane emissions from hundreds of thousands of oil and natural gas wells across the U.S., a move likely Continue Reading
Twitter deleted posts that included market-sensitive data from a U.S. oil-industry group after the group complained, roiling the tight-knit energy-trading community on the social network. The American Petroleum Institute recently Continue Reading
There are those who will tell you that this is a bad time to be running a big oil company. John Watson, chief executive of Chevron, is not among them. Continue Reading
Russia’s ruble rose with oil, extending the biggest monthly gain in global markets and boosting speculation the Bank of Russia will resume cutting interest rates. The currency added 0.5 percent Continue Reading
Siemens AG said on Wednesday it would cut about 2,500 jobs at its Process Industries and Drives division, most of them in Germany, in response to intense competition in the Continue Reading
Oil production in Russia will inevitably decline by 2035 according to an Energy Ministry report seen by the Vedomosti business daily. The different scenarios predict an output drop from 1.2 Continue Reading
Moody’s is withdrawing from the Russian domestic market as global rating agencies are caught in a dilemma between new Russian laws and western sanctions. Moody’s said on Wednesday that it Continue Reading
Crude-oil prices reversed their downward trend in early afternoon Asia trading Wednesday, as investors hunt for bargains following the overnight decline. Prices in Asia opened lower but regained traction in Continue Reading
The world’s biggest oil exporters both in and outside the Organization of the Petroleum Exporting Countries plan to meet in Moscow on March 20 to discuss an output freeze, an Continue Reading
Oil prices sold off sharply Tuesday, giving back a big chunk of prior-day surge, as fresh signals of global oversupply and weak demand buffeted the market and analysts cautioned that Continue Reading
Brent oil halted gains after rising above $40 a barrel for the first time since December on estimates that U.S. stockpiles, already at the highest in eight decades, expanded further. Continue Reading
Oil prices edged lower on Tuesday after Kuwait said it would only agree to an output freeze if all major producers take part and Goldman Sachs analysts poured cold water Continue Reading
Three and a half years ago, the International Energy Agency (IEA) triggered headlines around the world by predicting that the United States would overtake Saudi Arabia to become the world’s Continue Reading
If you think commodity producers are out of the woods as markets rally, here’s a reality check: many are still grappling to contain debt. Another year of belt-tightening hasn’t kept Continue Reading
The U.S. Energy Department lowered its price expectations for the global Brent crude contract this year and next, saying it expected supplies to grow more than previously anticipated because robust Continue Reading
Global oil production exceeded consumption by just over 1 billion barrels in 2014/15, according to the International Energy Agency (IEA). Production exceeded consumption by an average of 0.9 million barrels Continue Reading
The recent surge in prices of oil and other commodities has come prematurely, says Goldman Sachs, arguing that lower prices are needed for markets to rebalance. Oil prices have rallied Continue Reading
Iran, a net importer of gasoline, may start exporting the fuel once the Persian Gulf Star oil refinery begins operating in late August, Fars news agency reported. The OPEC member Continue Reading
Italian Prime Minister Matteo Renzi has warned Libya’s factions that time is running out for a national unity government to get the confidence backing it needs from parliament. Italy and Continue Reading
Iran has managed to sell only modest volumes of oil to Europe since the lifting of sanctions seven weeks ago and several former buyers are staying away, citing legal complications Continue Reading
Saudi Arabian Oil Co., known as Saudi Aramco, plans to nearly double its gas production to 23 billion standard cubic feet a day in 10 years, Chief Executive Amin Nasser Continue Reading
The Pentagon has presented the White House with the most detailed set of military options yet for attacking the growing Islamic State threat in Libya , including a range of Continue Reading
Saudi Arabia’s plans for economic reform foresee winding down ‘jobs for life’ in an inefficient state bureaucracy and replacing them with new careers in a dynamic private sector. That’s the Continue Reading
Growth in Nigeria, Africa’s biggest economy and oil exporter, slowed in the fourth quarter as crude revenue fell and manufacturers struggled amid a shortage of foreign-exchange for imports. Gross domestic Continue Reading
The South African government said Tuesday it was expecting to reap the rewards of shale natural gas, with exploration slated as early as 2017. Royal Dutch Shell is among the Continue Reading
Construction of a $4 billion (about Sh8.7 trillion) crude oil pipeline from Lake Albert-Kabaale in Uganda to Tanga Port will commence in August this year, Tanzania Petroleum Development Corporation (TPDC) Continue Reading
Nigerian President Muhammadu Buhari has approved the unbundling of the Nigerian National Petroleum Corporation into seven divisions, the Premium Times reported March 8. Five divisions will focus on core production Continue Reading
China’s February crude oil imports jumped 20 percent on year to their highest ever on a daily basis, as prices at their lowest in more than a decade drove buying Continue Reading
Australian thermal coal prices have fallen since the beginning of the month, pulled down by weak demand from China, and analysts said there was little hope for a rise in Continue Reading
