Proponents of the Electric Car are already convinced that the advent of cars with plugs will ultimately spell doom for the Big Oil companies and countries that rely on oil Continue Reading
Ratings agency Standard & Poor’s said it lowered the credit rating for Italian energy company Eni by one notch because of the impact of low oil prices. “We believe that Continue Reading
Oil prices fell in Asian trading on Thursday, adding to a slump in the previous session, after U.S. stockpiles rose for the sixth week to another record, sapping the strength Continue Reading
Oil prices took some of their biggest losses of the last month on Wednesday as data showed U.S. stockpiles keep rising and production is holding strong, which thwarted recent bets Continue Reading
International Monetary Fund researchers said the benefits from cheap oil may not materialize until demand in the global economy picks up and central banks in advanced nations move away from Continue Reading
Has the hoo-ha over the 800,000 “missing barrels”, the difference between average daily global oil production and consumption flagged by the International Energy Agency in its March report gone a Continue Reading
A construction conglomerate at the center of Saudi Arabia’s petrodollar-fueled economic boom is teetering under billions of dollars of debt, bankers and financial advisers familiar with the matter said, showing Continue Reading
Provincial leaders in Basra are moving to assert partial financial autonomy from Baghdad, in response to a lack of funding from the cash-strapped federal government.Basra Gov. Majid al-Nasrawi and Provincial Continue Reading
Iraqi Prime Minister Haider al-Abadi is planning to reshuffle his Cabinet, but doing so could upset the country’s carefully balanced government. Since early February, when the prime minister announced his Continue Reading
South Sudan’s oil ministry has concluded that oil production is in quick decline, and future production will not reach even half of its peak 2010 levels even if all the Continue Reading
Refiners took advantage of workable arbitrage The US is set to become one of Japan’s top 10 oil suppliers in May when roughly 2 million barrels of US crude and Continue Reading
About 600 people packed on to the Machinery Auctioneers lot on the outskirts of San Antonio, Texas, last week to pick up some of the pieces shaken loose by the Continue Reading
The Rockefeller Family Fund said on Wednesday it would divest from fossil fuels as quickly as possible and “eliminate holdings” of Exxon Mobil Corp, saying the oil company associated with Continue Reading
A sign is seen at the entrance of the Exxonmobil Port Allen Lubricants Plant in Port Allen, Louisiana, November 6, 2015. The U.S. Securities and Exchange Commission has ruled Exxon Continue Reading
Natural gas prices took their second-biggest losses of March with stable weather reports capping a recent rally connected to expectations for strong heating demand. Futures for April delivery settled down Continue Reading
The US government abolished 40-year-old constraints on crude oil exports in December. But since then less US oil has been put on ships headed abroad. Volumes of US crude exported Continue Reading
Building on its unveiling at January’s Consumer Electronics Show (CES) in Las Vegas ( earlier post ), the Volkswagen BUDD-e electric vehicle concept is making its US auto show debut Continue Reading
A general view shows a containment shelter for the damaged fourth reactor (R) and the New Safe Confinement (NSC) structure (L) at the Chernobyl Nuclear Power Plant, Ukraine, March 23, Continue Reading
What’s Behind the Drop? Simple Economics The oil industry, with its history of booms and busts, is in a new downturn. OPEN Multimedia Feature There is little doubt that Russia Continue Reading
Ice, extreme temperatures and a vulnerable environment are all surmountable challenges as drillers set out to hunt for oil in a new area of Norway’s Arctic Barents Sea, according to Continue Reading
Melting ice image via shutterstock . Reproduced on Resilience.org with permission. And another one bites the dust. The year 2014 was the warmest ever recorded by humans. Then 2015 was Continue Reading
Oil prices fell on Wednesday after figures from an industry group showed U.S. crude stockpiles rose last week more than expected, reinforcing concerns that the global supply glut continues unabated. Continue Reading
Oil futures wavered Tuesday amid uncertainty about global oil supplies ahead of a meeting among major producers next month to discuss freezing production. Light, sweet crude for May delivery settled Continue Reading
Oil prices fell on Tuesday, swept lower by investor nervousness after deadly blasts in Brussels prompted a flight towards so-called safe-haven assets such as gold. As many as 13 people Continue Reading
Trading houses are betting on oil markets remaining oversupplied for at least two more years even as crude prices stage a recovery driven by early signs of falling production. Traders Continue Reading
Energy producers clobbered by the worst price slump in decades have cut billions of dollars in spending, raising the potential for oil-supply shocks in the future, according to the International Continue Reading
The first ever natural gas export left Iraq’s southern coast yesterday, according to reports from the Associated Press . The historic shipment comes as the Iraq government looks for new Continue Reading
Gas will fuel at least a power plant in Diyala province within weeks, after years of security delays. An employee of Iranian power development firm Sunir walks past the Sadr Continue Reading
Saudi Arabia is prepared to join an oil output freeze next month without Iran taking part, a senior Opec delegate said, making a deal among big producers more likely. Some Continue Reading
After a deep slide in oil prices, Algeria’s Sonatrach is shifting strategy to offer foreign firms direct negotiations to buy stakes in 20 oil and gas fields in a bid Continue Reading
Libya does not plan to attend an April 17 meeting of oil producers about freezing supply to support prices, a Libyan OPEC delegate said on Tuesday, joining fellow OPEC member Continue Reading
Yemeni Foreign Minister Abdulmalik al-Mekhlafi said March 22 that he was 99 percent sure that U.N-backed peace talks to end Yemen’s civil war would take place in Kuwait by the Continue Reading
Amid the denial by the Nigerian National Petroleum Corporation (NNPC) of the allegation by the Auditor- General of the Federation ( AuGF), Mr. Samuel Ukura, that it didn’t remit into Continue Reading
A Venezuelan oil contractor pleaded guilty to bribery in a U.S. court, the latest development in a wide-ranging Justice Department probe of state-run Petróleos de Venezuela. Abraham Jose Shiera Bastidas Continue Reading
Across the country, coal-fired power plants consume 7.4 billion cubic meters of water each year, enough to meet the basic needs of about 30 percent of the nation’s population. Credit Continue Reading
China imported 5.06 million mt of thermal coal in February, down 13.6% on the year and 13.2% below January to the lowest monthly volume since April 2011, according to data Continue Reading
China’s campaign to slim down its bloated industries could be derailed by more than $1.5 trillion of debt in its steel, coal, cement and non-ferrous metal sectors, which threatens to Continue Reading
Not since the suppression of the 1989 Tiananmen Square protests has there been this much diplomatic concern about the direction China is taking. And for once, in a highly unusual Continue Reading
An electronic display identifies the post that trades SandRidge Energy stock on the floor of the New York Stock Exchange January 11, 2013. Nearly 15 years since Enron’s collapse decimated Continue Reading
The head of Schlumberger, one of the largest oil and gas services companies in the world, said from New Orleans the industry is in need of a strategic makeover. Lower Continue Reading
Canadian companies Suncor and Canadian Oil Sands Ltd. announced their merger was completed under the terms of a hostile offer launched last year. Both companies announced the end of the Continue Reading
U.S. refinery issues and recovery for oil prices means retail gasoline prices are closing in on their highest levels since December, market analysis finds. Motor club AAA reports a national Continue Reading
Well age reflects the difference between the calendar year and the year the well started producing. U.S. crude oil production from the Lower 48 states from new wells (drilled since Continue Reading
More government regulations are impacting the offshore sector’s outlook, possibly hampering the recovery. G. Allen Brooks’ examines several of the recent Obama administration actions. This opinion piece presents the opinions Continue Reading
More cash, lower targets and bigger share awards – not all U.S. energy bosses are feeling the full impact of tumbling oil prices in their paychecks. Some oil and gas Continue Reading
Here’s Why This Is Only the Fourth Time Oil Has Tanked For oil companies, the legacy of $100 crude is starting to run dry. A wave of projects approved at Continue Reading
Oil and gas exploration company Emerald Oil Inc. filed for bankruptcy protection Tuesday night, the latest victim of stubbornly low oil prices. The Denver-based company, along with four affiliates, filed Continue Reading
Russia’s ruble rose with oil, reversing earlier declines triggered by deadly attacks in Brussels at the main airport and a subway station. The ruble strengthened 0.8 percent to 67.286 per Continue Reading
Russian oil company Gazprom Neft said it reached a milestone with production at its Arctic Prirazlomnoye field with its 10 millionth barrel of oil. “The 10-millionth barrel of oil is Continue Reading
An influential group of scientists led by James Hansen, the former NASA scientist often credited with having drawn the first major attention to climate change in 1988 congressional testimony, has Continue Reading
