Commentary: No need to exaggerate China’s economic headwinds
The Economist Intelligence Unit warned the world that China was set for a hard landing in its latest global risk analysis report, but closer inspection shows it to be a Continue Reading
Saudi Arabia leaves shale-favoring plants to Shell in Motiva split
Royal Dutch Shell Plc plans to maintain control of two refineries that can run more domestic crude, leaving a plant that runs massive volumes of Saudi Arabian oil to Saudi Continue Reading
U.S. oil drillers add one rig after 12 weeks of cuts: Baker Hughes
U.S. energy firms this week added one oil rig after 12 weeks of cuts, data showed on Friday, after oil futures have soared over 50 percent since falling to a Continue Reading
U.S. oil producer Venoco files for bankruptcy
U.S. oil and gas producer Venoco Inc [DNVRPV.UL] filed for Chapter 11 bankruptcy protection on Friday, joining more than 40 energy-related firms that have sought court protection from creditors since Continue Reading
US rig count drops 4 this week to all-time low of 476
The number of rigs exploring for oil and natural gas in the U.S. dropped 4 this week to 476, a record low and another sign of continuing price woes in Continue Reading
One Energy Industry Lifeline May Be Running Out of Steam
Energy companies that are struggling to avert bankruptcy have recently been relying on a tool to buy time called a distressed-debt exchange. That may no longer be as useful, particularly Continue Reading
US rig count, at 476, is lowest in 67 years of record-keeping: Baker Hughes
The total US rig count, which on Friday stood at 476, is now at its lowest point ever in the 67-year history of the Baker Hughes numbers, according to data Continue Reading
Baker Hughes: US Oil Drillers Add One Rig After 12 Weeks Of Cuts
U.S. energy firms this week added one oil rig after 12 weeks of cuts, data showed on Friday, after oil futures have soared over 50 percent since falling to a Continue Reading
Majority in US opposed to nuclear power: Gallup poll
Opposition in the US to nuclear energy has climbed sharply, with a majority opposed to its use for the first time since Gallup began annual polling on the subject 22 Continue Reading
Eni Plans Deeper Cost Cuts, Asset Sales to Weather Oil Plunge
Eni SpA, Italy’s largest oil producer, plans additional asset sales valued at 7 billion euros ($7.9 billion) by 2019 and deeper cost cuts as it seeks to offset the impact Continue Reading
Finland gets backing for LNG development
The European Commission said Friday it supported Finland’s strategy to invest in a small-scale liquefied natural gas terminal as an energy security option. The commission said it supported the government’s Continue Reading
Transocean frets over market conditions
Rig company Transocean in a letter to shareholders said it was working to maintain its sector position in what’s expected to be a challenging market in 2016. The company said Continue Reading
Eni Plans More Than $14 Billion in Cost Cuts, Asset Sales
Eni SpA Friday announced plans for €13 billion ($14.71 billion) in cost cuts and asset sales, the latest major oil and gas company to further adjust its strategy to enduring Continue Reading
EU keen to buy natural gas from Israel, discussions underway
The EU is interested in receiving natural gas from Israel, according to Israel’s energy ministry, with ministry sources saying Thursday that preliminary talks on future sales of gas are underway. Continue Reading
Six months into ‘Dieselgate’ scandal, gloom deepens in VW’s hometown
When Martin Winterkorn dropped by to order some new glasses in the Volkswagen company town of Wolfsburg, he was “visibly dejected”, according to his optician. But the visit wasn’t last Continue Reading
Oil Holds Near $40 on Weaker Dollar, Falling U.S. Production
Oil held near $40 a barrel after the dollar headed for a third week of losses amid signs central banks will continue to provide stimulus, and as U.S. output dropped Continue Reading
Oil hits 2016 high on output-freeze hopes, set for longest winning streak for a year
U.S. oil futures touched new highs for 2016 on Friday and were set to post gains for a fifth straight week on growing optimism that major producers would strike a Continue Reading
U.S. Oil Prices Hit $40 a Barrel, Extending Recent Rally
The U.S. oil benchmark broke above $40 a barrel Thursday for the first time this year, highlighting the market’s rebound from its lowest levels in more than a decade. Since Continue Reading
Oil extends strong gains after supplier meeting agreed
Oil futures extended strong gains on Thursday, continuing to gather support after the world’s biggest suppliers firmed up plans to meet to discuss an output freeze. Oil producers, including Gulf Continue Reading
Natural Gas Reaches One-Month High, Climbing With Crude
Natural gas futures shook off early losses Thursday and rallied for a third straight day in tandem with a surge in U.S. crude prices, which closed above $40 a barrel Continue Reading
Crude Mystery: Where Did 800,000 Barrels of Oil Go?
There is mystery at the heart of the oversupplied global oil market: missing barrels of crude. Last year, there were 800,000 barrels of oil a day unaccounted for by the Continue Reading
Iran’s January Oil Exports Hit 22-Month High
Iran’s oil exports climbed to the highest in 22 months in January when sanctions against its economy ended, opening the way for higher shipments to Asia and new sales to Continue Reading
Saudi Arabia’s Oil Chief Prepares for a World After Fossil Fuels
Even as it pumps near-record quantities of oil, Saudi Arabia is getting ready for a time when the world will no longer need its biggest export. The world’s largest crude Continue Reading
Saudi oil exports rise to 7.835 million bpd in January: JODI
Saudi Arabia’s crude oil exports in January rose to their highest level in nine months to 7.835 million barrels per day from 7.486 million bpd in December, official data showed Continue Reading
Baghdad pressures KRG with Kirkuk crude export cut
Iraq’s Oil Minister said federally produced Kirkuk crude cannot flow through Kurdistan’s pipeline without a new oil deal. Iraqi Oil Minister Adil Abd al-Mahdi speaks at the Sulaimani Forum on Continue Reading
Mexico to Proceed With Auction Round for Shale Fields This Year
Mexico will hold a private bidding round for the nation’s shale oil fields this year in part to cater to continued interest from U.S. drillers eyeing expansion south of the Continue Reading
Interview: Flexible crude imports tops India oil minister’s agenda
Having recently finalized India’s new hydrocarbons exploration policy, Indian oil minister Dharmendra Pradhan is now focused on formulating a new crude oil import policy aimed at giving state-run refiners more Continue Reading
Shell, Aramco U.S. refining breakup lets both pursue ambitious goals
The breakup of Royal Dutch Shell’s and Saudi Aramco’s giant U.S. refining joint venture draws a line under an often rocky relationship and allows Aramco to accelerate an ambitious public Continue Reading
U.S. Proposes New Gas Pipeline Safety Rules
U.S. pipeline regulators are proposing new rules aimed at strengthening safety requirements for pipelines that carry natural gas. The Transportation Department’s Pipeline and Hazardous Materials Safety Administration wants to bulk Continue Reading
The U.S. Is Exporting Its Oil Everywhere
Three months since the U.S. lifted a 40-year ban on oil exports, American crude is flowing to virtually every corner of the market and reshaping the world’s energy map. Overseas Continue Reading
Keystone Pipeline Operator to Buy Columbia Pipeline
TransCanada, the company behind the controversial Keystone XL oil pipeline project, agreed to buy Columbia Pipeline Group Inc. for $10.2 billion. View full article at www.wsj.com
No more Gulf drilling, advocates say
As the Obama administration pulls the Atlantic Ocean off a drilling list, activist backers on the southern U.S. coast said they’re wary of Gulf of Mexico plans. A consortium of Continue Reading
$2 Billion Loss for Generators as a Million U.S. Roofs Get Solar
Rooftop solar is casting a $2 billion shadow over power generators across the eastern U.S. With more than a million U.S. houses set to have solar panels by the end Continue Reading
Gazprom Neft expects more oil from Arctic
Russian oil company Gazprom Neft said it revised a production schedule to dramatically boost output from a field in the Arctic north of the country. Revised by a factor of Continue Reading
Russia has less than three decades of oil remaining
“Our recoverable oil reserves are about 29 billion tons. These are the ones that could theoretically be extracted from the subsoil. Crude oil production (without condensate) preliminarily amounted to about Continue Reading
Oil Advances as U.S. Output Falls Amid Slowing Stockpile Growth
Oil gained for a second day after climbing the most in more than three weeks as U.S. output fell and stockpile growth slowed. Futures advanced as much as 2.4 percent Continue Reading
Oil extends strong gains after supplier meeting agreed
Oil futures extended strong gains on Thursday, continuing to gather support after the world’s biggest suppliers firmed up plans to meet to discuss an output freeze. Oil producers, including Gulf Continue Reading
Oil Prices Rise on Producers’ Plan to Discuss Output Limits
Oil prices surged Wednesday on word from OPEC officials that Saudi Arabia and other leading exporters will limit their output even if Iran doesn’t cooperate. The market shrugged off mildly Continue Reading
Oil rises as producers announce meeting on output freeze
Oil prices edged up on Wednesday on an upcoming meeting in Qatar to discuss an output freeze and on expectations of U.S. production declines, but analysts warned that neither the Continue Reading
Natural Gas Rallies on Hopes for Falling Production
Natural-gas prices rebounded from earlier losses and gained for the eighth time in nine sessions as traders keep anticipating a tighter market in the months to come. Futures for April Continue Reading
When Will The Oil Market Rebalance?
Some observers believe the market must rebalance before oil prices bottom. But that is not necessarily true for futures prices, which are based on price expectations. Projections show the world Continue Reading
April oil freeze meeting likely to go ahead without Iran
Oil producers including Gulf OPEC members support holding a meeting next month to discuss a deal to freeze output even without Iran, OPEC sources said, as political pressure to prop Continue Reading
SocGen cuts 2016 oil price forecast on stubborn oversupply
Societe Generale on Wednesday lowered its crude oil price forecast, saying recent price gains were weak and based on temporary disruptions to a glut in output. The bank cut its Continue Reading
Syrian Kurds Hope to Establish a Federal Region in Country’s North
Syrian Kurdish parties are working on a plan to declare a federal region across much of northern Syria , several of their representatives said on Wednesday. They said their aim Continue Reading
Kurdish moves on federalism cloud Syria peace drive
Kurdish-controlled areas of northern Syria are expected to declare a federal system on Thursday, a move likely to further complicate peace talks in Geneva on ending more than five years Continue Reading
Libyan oil output has yet to recover
A survey of oil production from Libya shows the country remains far below its peak capacity levels posted more than five years ago, before the Arab Spring. Energy reporting service Continue Reading
Uganda, Kenya Officials to Meet, Tanzania Sets Pipeline Schedule
Construction of the Tanzania-Uganda crude oil pipeline begins in August and will be complete in two years, even as Kenya negotiates to have the pipeline go north through Lamu. The Continue Reading
Nigeria: Shell Lists Challenges in Nigerian Operations
The Royal Dutch Shell says security issues surrounding the safety of its people, sabotage and theft are some of the major risks and challenges affecting its operations in Nigeria. The Continue Reading
China makes low-carbon commitments
A five-year economic development plan unveiled by China called for strengthened efforts to control pollution and a gradual shift away from coal. A National Economic and Social Development plan outlined Continue Reading
Royal Dutch Shell, Saudi Aramco Plan to Break Up Motiva Partnership
Shell and Saudi Aramco formed their Motiva joint venture nearly two decades ago and spent $10 billion to double the size of their plant in Port Arthur, Texas, in 2012. Continue Reading