Brent signals traders to release oil stocks: Kemp
Crude oil storage helped commodity traders and refiners make strong profits last year and in the first quarter of 2016 but now the price structure which made it possible is Continue Reading
Oil bulls will be the losers as technology upends demand
The bullish camp, which includes Opec and EIA, has recently reinforced their $80/bbl target by 2020 based mainly on “battle for supply” (competition among oil producing nations and technologies) arguing Continue Reading
Iran: Oil Industry Needs More Ships To Carry Exports
Iran is struggling to find enough viable tankers to carry oil exports, Reuters reported April 19. Now free of the economic sanctions imposed by the European Union in 2011 and Continue Reading
Exclusive: Iran struggles to find enough ships for oil exports
Malta-flagged Iranian crude oil supertanker ”Delvar” is seen anchored off Singapore March 1, 2012. Iran faces a struggle to increase oil exports because many of its tankers are tied up Continue Reading
Investment in Iran’s Oil, Gas Upstream to Come Slowly
Further growth in Iranian production volumes will be deterred by slow investment in Iran’s upstream oil and gas industry. Iran’s claim that it can ramp up production to 500,000 barrels Continue Reading
Oil Declines as Kuwait Workers End Strike After 3-Day Disruption
Oil fell after Kuwait workers said they would end a strike that disrupted output in OPEC’s fourth-largest producer for three days. Futures fell as much as 3 percent in New Continue Reading
Kuwait’s Oil Output Set to Return to Normal After Strike Ends
Kuwait’s oil production is set to return to normal in three days after thousands of striking workers returned to their jobs Wednesday. OPEC’s fourth-largest producer will boost output to an Continue Reading
Who speaks for Saudi Arabia on oil, rivals and allies wonder
Saudi Arabia’s Oil Minister Ali al-Naimi gestures as he attends a joint news conference with Russia’s Energy Minister Alexander Novak, Qatar’s Energy Minister Mohammad bin Saleh al-Sada, and Venezuela’s Oil Continue Reading
Saudi’s Blow to Doha Deal Could Push Some Oil-Reliant Nations to the Brink
Drilling mud flows into a container while an oilfield worker works on a rig at… Saudi Arabia’s decision to reject an international plan to limit oil output could push other Continue Reading
Saudi Arabia takes out $10bn in bank loans
Saudi Arabia is raising $10bn from a consortium of global banks as the kingdom embarks on its first international debt issuance in 25 years to counter dwindling oil revenues and Continue Reading
Obama to Visit a Saudi Arabia Deep in Turmoil
Photo Saudi women and men on opposite sides of a hall at the American Express Luxury Expo in Riyadh last month. RIYADH, Saudi Arabia — The images of the past Continue Reading
Influential Saudi Prince Wields New Power at King’s Side
Deputy Crown Prince Mohammed bin Salman, center, posed with the chiefs of staff of the… RIYADH, Saudi Arabia—Before his father ascended to the throne last year, Mohammed bin Salman was Continue Reading
Qatar’s OPEC MAX meeting and the oil price rout that wasn’t
There was much gnashing of teeth as Qatar’s grand meeting of oil producers failed to reach agreement Sunday to freeze production at January levels. Commentators predicted a collapse in oil Continue Reading
Libya: EU Formally Recognizes Unity Government As Legitimate
The European Union formally recognized Libya’s newly installed Government of National Accord as the country’s sole legitimate government, the Libya Herald reported April 19. The announcement followed an April 18 Continue Reading
Colombian Oil Producer Pacific Falls From Grace
Pacific has become a major bust from the commodity downturn. At its peak, it was… BOGOTÁ, Colombia—Latin America’s largest privately owned oil producer said it was preparing to file for Continue Reading
U.S. energy economy diversified, White House says
Having a conversation about the potential impacts of low oil prices is better than the alternative, White House spokesman Josh Earnest said. File photo by Kevin Dietsch/UPI WASHINGTON, April 19 Continue Reading
Justice Department to VW: Don’t Release Results of Pollution Probe
The Justice Department has told Volkswagen AG VLKAY 3.21 % to refrain from publicly releasing results of an independent investigation into cheating on diesel-emissions tests to keep confidential names and Continue Reading
State taxes on gasoline and diesel average 27 cents per gallon
State-level taxes and fees on gasoline in the United States averaged 26.5 cents per gallon (¢/gal) as of January 1, 2016. These taxes and fees ranged from a low of Continue Reading
Lithium War Heats Up After Epic Launch Of Tesla Model 3
The unveiling of Tesla’s Model 3 electric car was no less than the lifting of the final curtain on a game-changing energy revolution. And if we follow that revolution to Continue Reading
A rough day for coal: Midwest utilities retire 2,000 MW
Indianapolis Power & Light last week retired four units at its Eagle Valley Generating Station, highlighting the need for a cleaner and more diverse generation mix. The facility will be Continue Reading
Russian Oil Output, Exports May Rise After Doha Deal Fails
Play VideoPlayMuteCurrent Time 0:00/Duration Time 0:00Loaded: 0%Progress: 0%Stream TypeLIVERemaining Time -0:00Playback Rate1Chapters Chapters Subtitles subtitles off Captions captions settings captions off Fullscreen This is a modal window. No compatible source Continue Reading
Russian Consumer Demand Stagnates as Unemployment Tops Forecasts
Russian consumer spending showed little sign of picking up in March as unemployment jumped to the highest in more than three years. The jobless rate rose for the first time Continue Reading
Europe Has Become a ‘Dumping Ground for Diesel’
A supertanker is bringing millions of gallons of Asian-made diesel to Europe, threatening to strain the continent’s already brimming storage depots even further. The Alice, able to ship about 80 Continue Reading
Russian economist scoffs at Doha oil hype
An economist at a Russian development bank said Tuesday any deal among major oil producers last weekend would’ve been moot because markets are flush with oil. Ministers from some members Continue Reading
Hubbert’s Peak or Yergin’s Plateau?
In 1956, Shell geologist M. King Hubbert correctly predicted that oil production in the United States would reach a peak around 1970. Since his Peak Oil theory fits so well Continue Reading
Oil Prices Regain Ground After Failed Doha Production-Freeze Talks
Oil prices are up Tuesday as the markets continue to grapple with the fallout of the Doha production-talks fiasco. At 0800 GMT, Global benchmark Brent was up 1.42% at $43.52 Continue Reading
Oil Rises After Four-Day Slide as Kuwait Strike Curbs Production
Oil climbed after a four-day loss as a strike in Kuwait cut output from OPEC’s fourth-biggest member, countering the bearish impact of failed production-freeze talks in Doha. Futures rose as Continue Reading
Forget Doha. The Fundamentals Are Moving In The Right Direction
I really don’t think it matters what happened at the OPEC + Russia meeting in Doha, Qatar on April 17. Agreements between those characters don’t have any enforcement provisions and Continue Reading
Kuwait to boost oil production despite strike
Kuwaiti oil sector employees sit in a shaded area on the first day of an official strike called by the Oil and Petrochemical Industries Workers Union over public sector pay Continue Reading
Striking oil workers in Kuwait disable over 60 percent of production
The Doha talks came and went yesterday. With little to show after Saudi Arabia largely refused to take action on oil output cuts without the cooperation of Iran. But even Continue Reading
Aiming at Iran, Saudi Arabia Mixes Oil Policy With Politics
After taking over defense and economic planning, Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman has now stamped his authority over oil policy. In so doing, the 30-year-old son of Continue Reading
Islamic State’s Finances Cut by 30% From Last Year, Report Finds
U.S. airstrikes lower oil production to 21,000 barrels a day U.S.-led air strikes and territorial gains by forces allied with Russia and Iran have cut Islamic State’s monthly revenue by Continue Reading
Yemeni rebels back out of peace talks at last moment
Yemen’s Shiite rebels backed out of U.N.-brokered peace talks just hours before the negotiations were to start Monday in Kuwait, demanding the Saudi-led coalition abide by the weeklong cease-fire and Continue Reading
Iran’s economy bustling, IMF says
International Monetary Fund Director of Middle East and Central Asia programs Masood Ahmed said Iran’s economy is outperforming its peers. File photo by Kevin Dietsch/UPI WASHINGTON, April 18 (UPI) — Continue Reading
Iran’s crude output to reach pre-sanctions level by June, official says
A general view shows a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015. Iran’s crude oil production will reach pre-sanctions levels Continue Reading
Saudis Mix Politics and Oil Policy
Saudi oil minister Ali al-Naimi, center right, arrives Sunday at a meeting of oil-producing countries… Saudi Arabia’s decision over the weekend to refuse to freeze oil output without Iran’s participation Continue Reading
Obama to Visit a Saudi Arabia Deep in Turmoil
The images of the past year have been deeply unsettling for the people of Saudi Arabia , long accustomed to oil-fueled prosperity and regional clout: militants firing at communities along Continue Reading
ISIS Tries To Sow Chaos In Libya To Scare Oil Workers Away
As Libya wrangles over who is going to control its oil, the Islamic State is closing in, using sporadic attacks designed to rattle nerves and force oil-field evacuations or worker Continue Reading
Air strikes rattle IS in Mosul, with high toll on civilians
Dozens of militants are dying every week, sowing paranoia among their ranks. But as the group embeds itself deeper into the city, residents say they are also suffering – from Continue Reading
Mexican Officials Seek to Reassure Investors About Pemex
Mexican officials are setting out to assure investors of government support for state oil company Petróleos Mexicanos after the firm received a $4.2 billion financial lifeline to help it through Continue Reading
Statoil And Partners Strike Oil Off Brazil
Energy company Statoil and partners Repsol Sinopec Brasil and Petrobras have struck oil off the coast of Brazil, in a deepwater offshore area called the Campos Basin, the Norwegian firm Continue Reading
Call for US and China to pursue clean coal
Developing “clean coal” technology would help the coal sector in both the US and China and prevent further job losses, the US energy secretary has said. Crashing prices for coal Continue Reading
Venezuela to maintain 2016 crude output,
* Oil minister sees 2016 output at 2.8 mil b/d, exports at 2.3 mil b/d * Suggests OPEC-only talks on June 2, to find consensus within group Venezuela is working Continue Reading
China stills sees large potential domestic growth for steel demand
A worker walks past a pile of steel pipe products at the yard of Youfa steel pipe plant in Tangshan, in China’s Hebei Province, November 3, 2015. China still sees Continue Reading
Total U.S. energy production increases for sixth consecutive year
Total U.S. energy production increased for the sixth consecutive year. According to data in EIA’s most recent Monthly Energy Review , energy production reached a record 89 quadrillion British thermal Continue Reading
Energy And The 2016 Presidential Candidates
With the New York presidential primaries just a day away, it is enlightening to hear what each candidate thinks about the controversial issues surrounding energy and power. Energy is far Continue Reading
US 2015 Oil Production and Future Oil Prices
Oil production can be confusing because there are various “pieces” that may or may not be included. In this analysis, I look at oil production of the United States broadly Continue Reading
Houston Ship Channel remains shut due to severe storms; 33 vessels in queue
The Houston Ship Channel remained shut Monday morning due to ongoing severe thunderstorms in the Houston area that began Sunday night. “The Houston Ship Channel was shut at 21:36 on Continue Reading
Just How Much Energy Lies Beneath The Artic
The Arctic has been the fascination of many people for centuries. Hundreds of years ago, the Europeans saw the Arctic’s frigid waters as a potential gateway to the Pacific. The Continue Reading
More than a dozen tremors hit Oklahoma
Oklahoma hit by more than a dozen small earthquakes in the last week as the state works to control wastewater disposal tied to the oil and gas industry. Map courtesy Continue Reading