Though Saudi Arabia’s plan of a $2 trillion fund exudes power and confidence, raising a megafund of that size is practically next to impossible, unless crude oil prices see a Continue Reading
Venezuelan President Nicolás Maduro said the country’s workers will get Fridays off for the remainder of April and May in his latest attempt to save power amid a severe drought Continue Reading
Despite being one of the world’s biggest oil producers, Nigeria imports most of its fuel and is currently facing a severe shortage. It does not have enough oil refineries and Continue Reading
Vietnam’s government on Thursday said it had told China to pull an oil rig from waters between the two countries that haven’t been demarcated and urged Beijing not to drill Continue Reading
In the energy world, India is becoming the new China. The world’s second-most populous nation is increasingly becoming the center for oil demand growth as its economy expands by luring Continue Reading
A general view of a crude oil importing port in Qingdao, Shandong province, in this November 9, 2008 file photo. A surge in oil buying by China’s newest crude importers Continue Reading
Spending in Canada’s oil and natural gas sector has fallen by a record C$50bn (US$38bn) over the past two years, according to an industry group representing oil and gas producers Continue Reading
With U.S. government pressure on the merger confirmed, oilfield services companies Baker Hughes and Halliburton said complaints were counterproductive. Rumors surfaced earlier this week the U.S. Justice Department would follow Continue Reading
The total number of rigs actively exploring for or producing oil or natural gas worldwide declined 12 percent from February levels, Baker Hughes said Thursday. Rig counts serve as a Continue Reading
A new study from Stanford has confirmed that fracking operations are contaminating drinking water sources in Wyoming. “This is a wake-up call,” said lead author Dominic DiGiulio, a visiting scholar Continue Reading
“Landowners’ worst fears came true,” Jane Kleeb, the head of Bold Nebraska, told DeSmog after news broke about the latest Keystone pipeline oil spill. “When you have a pipe running Continue Reading
Adding on to the Nord Stream natural gas pipeline running from Russia to European shores would impact the regional market significantly, an EU official said. Russian energy company Gazprom in Continue Reading
Canada’s oil and gas companies will slash investments by 35 percent in 2016, a record two-year decline that underscores a need for new pipelines, the industry’s main advocacy group says. Continue Reading
There is concern that World C+C may decline steeply after the peak, I believe those concerns are over blown. There is always the possibility that there could be a severe Continue Reading
Oil prices wavered in volatile trade Thursday, as investors weighed an unexpected decline in U.S. crude inventories against growing doubts that major oil producers will agree to curb their output. Continue Reading
Oil extended gains following the biggest advance in three weeks after U.S. crude stockpiles unexpectedly declined. Futures climbed as much as 1.5 percent in New York after rising 5.2 percent Continue Reading
Oil steadied at around $40 per barrel on Thursday as a surprise fall in U.S. inventories the previous day was offset by an increase in exports from Iraq, underlining global Continue Reading
Oil prices rallied Wednesday after industry data showed that U.S. stockpiles fell and a Chinese economic gauge showed quicker-than-expected improvement. Adding to the bullish sentiment in crude, Kuwait, a heavyweight Continue Reading
England, birthplace of the Industrial Revolution, has been moving away from industry, shutting factories and steel mills. Throughout the 20th century, the global economy was fueled by burning coal to Continue Reading
Oil at $35 a barrel is neither too high nor too low but just right to make shares of U.S. explorers worth buying, according to Goldman Sachs Group Inc. While Continue Reading
Emerging markets snapped two days of losses as oil surged and investors returned to riskier assets after minutes of the Federal Reserve’s March meeting affirmed its gradual approach to raising Continue Reading
This week’s shutdown of the Keystone oil pipeline has stopped up the route for roughly a quarter of the crude flowing into the U.S. Midwest. To which the oil market Continue Reading
There is concern that World C+C may decline steeply after the peak, I believe those concerns are over blown. There is always the possibility that there could be a severe Continue Reading
An oil well at the Khabbaz field was blown up on Tuesday evening, the latest sign that Kirkuk province’s oil infrastructure remains vulnerable to attack even as militants from the Continue Reading
Fayez Serraj, center. Photographer: Mohamed Ben Khalifa/AP Photo Virtually unknown in Libya until late last year, Fayez Serraj is quickly emerging as his country’s best bet to escape five years Continue Reading
Saudi Arabia is working to create the world’s largest sovereign wealth fund so it might redirect the nation away from dependence on oil! What do the Saudi’s know? Will they Continue Reading
Venezuela’s main steelmaker Sidor has been shut down for 25 days, a union leader said on Wednesday, blaming the situation on the military officers who run the state-owned firm. Sidor Continue Reading
Venezuela’s PDVSA will discharge in the coming days its first cargo of U.S. crude bought from British BP, who along with China Oil was awarded a tender to supply the Continue Reading
China’s independent oil refineries, known as “teapots”, are gaining in market share as a slowing economy rewards their more flexible business model, piling further pressure on margins at the country’s Continue Reading
Big airlines are making waves in the oil market for the first time since prices went into a tailspin nearly two years ago, betting this may be their best chance Continue Reading
Unexpectedly weak gasoline consumption in the United States reported for the month of January has been blamed by some market participants for the continued slide in oil prices on Tuesday. Continue Reading
TransCanada Corp will curtail shipments on its 590,000-barrel-per-day Keystone crude pipeline by 35 percent for the remainder of April, according to a shipper notice dated Wednesday. The move comes after Continue Reading
A rethink of current energy priorities and policies may be necessary to give further momentum to the U.S. shale oil and gas sector, an industry group said. The American Petroleum Continue Reading
Natural gas producers are finally realizing that the age-old adage is true: If you find yourself in a hole, stop digging. Explorers have idled drilling equipment at historic rates — Continue Reading
Russia believes an oil price at $45-$50 per barrel is acceptable to allow the global oil market to balance, as it prepares to meet leading oil producers in Doha later Continue Reading
Russia’s economy will continue facing pressure from lower crude oil prices and sanctions, though growth returns by next year, the World Bank said Wednesday. The World Bank said a recession Continue Reading
Oil prices rallied Wednesday after industry data showed that U.S. stockpiles fell and a Chinese economic gauge showed quicker-than-expected improvement. Adding to the bullish sentiment in crude, Kuwait, a heavyweight Continue Reading
U.S. and global oil markets managed to grind out gains Tuesday, rallying in the final minutes of trading after chopping around the break-even point most of the session. The benchmark Continue Reading
Crude oil prices moved lower for a second straight day as the International Monetary Fund gauged the prospects of “mediocre” economy momentum. The IMF warned Chinese growth patterns may have Continue Reading
Oil’s volatile start to 2016 has continued with prices falling back below $40 as the second quarter begins. The following could determine crude’s next move. Less than two weeks Continue Reading
Iran will not back down on its plans to regain its share of oil production within OPEC, the government said Tuesday ahead of a crucial meeting of global oil producers Continue Reading
Suicide bombers killed at least 10 people in Basra and Dhi Qar on Monday, as the self-proclaimed Islamic State (IS) showed its determination – despite recent battlefield losses – to Continue Reading
For the Gulf states, maintaining unity becomes all the more important amid economic slowdown. Click here to continue reading… Stratfor provides global awareness and guidance to individuals, governments and businesses Continue Reading
China boosted its recoverable shale gas reserves more than fivefold last year as the country missed its production target for the fuel. Recoverable shale gas reserves, or those that can Continue Reading
China’s economy is stabilising after the slowdown of recent months, data suggest, easing worries about a hard landing but raising questions about the government’s commitment to rebalancing. A slump in manufacturing Continue Reading
From Alaska to Oklahoma, oil-producing states are scrambling to plug holes blown in their budgets by tumbling crude prices. U.S. refiners who are delaying compliance with new cleaner gasoline production Continue Reading
The U.S. Justice Department will file a lawsuit as soon as this week to stop oilfield services provider Halliburton Co from acquiring smaller rival Baker Hughes, a deal that would Continue Reading
America’s trade deficit widened in February to a six-month high as an increase in imports exceeded a more modest pickup in shipments overseas. The gap increased 2.6 percent to $47.1 Continue Reading
U.S. consumers may be in for seasonal volatility in retail gasoline prices as crude oil market dynamics contrast with refinery-side pressures, analysts said. Motor club AAA reported a national average Continue Reading
In Calgary, March home sales volume tumbled 11% from the same period last year. The housing market in Calgary, capital of Canada’s struggling energy sector, has been hit so hard Continue Reading
