Oil prices dipped on Monday as a strong dollar weighed on markets and Canadian oil sands production was expected to increase this week. Crude markets, however, did receive some support Continue Reading
The UAE’s economy minister sees oil jumping to $60 per barrel in the next few months. “It’s possible for oil prices to reach $60 or more during this summer,” UAE Continue Reading
If the whims of oil speculators are anything to go by, then another oil price downturn looks increasingly unlikely. Oil prices have gained more than 80 percent over the past Continue Reading
The EIA has apparently stopped publishing its International Energy Statistics. Instead they are now publishing an abbreviated version on their Total Energy web page titled: Tabel 11.1b World Crude Oil Continue Reading
Libya’s Petroleum Facilities Guard captured a town near the country’s biggest oil port of Es Sider after clashes with Islamic State militants as the divided country works to reunite factions Continue Reading
Yemen’s Houthi rebels have launched a missile over the border into Saudi Arabia for the first time in weeks in the latest violation of a shaky truce between the insurgents Continue Reading
Libyan forces loyal to the U.N.-brokered government advanced on Monday against two key Islamic State strongholds, with several officials saying the troops had taken a town from the extremists. The Continue Reading
Saudi Arabia’s new energy minister, Khalid al-Falih, shown in a January photo, has a full… As the Organization of the Petroleum Exporting Countries prepares to meet this week, representatives say Continue Reading
A force that controls oil terminals in eastern Libya said it had captured the town of Ben Jawad from Islamic State, pushing the militant group back along a coastal strip Continue Reading
Iraq will supply 5 million barrels of extra crude to its partners in June, industry sources familiar with the issue said, joining other Middle East producers by lifting market share Continue Reading
Saudi Arabia’s new energy minister, Khalid al-Falih, shown in a January photo, has a full… As the Organization of the Petroleum Exporting Countries prepares to meet this week, representatives say Continue Reading
Oil pipeline Two years ago, while Kurdish oil was flowing to Turkey’s port of Ceyhan, Iran and the Kurdistan Regional Government (KRG) signed a natural gas-for-oil agreement that included the Continue Reading
Niger Delta Militants The resurgence of Niger Delta militancy has reached the level of an all-out renewal of conflict that Nigeria’s security forces appear incapable of stopping, and force majeure Continue Reading
Construction workers building a new bridge against the skyline of Mozambique’s capital, Maputo, in April…. Along Africa’s resource-rich eastern coast, the promise of gas-fired prosperity is wafting into an uncertain Continue Reading
Nigeria’s President Muhammadu Buhari has given the nation’s central bank the go-ahead to introduce flexibility in the naira exchange rate, his spokesman said on Monday. “The president is opposed to Continue Reading
While oil shipments to other parts of the world languish, this port in eastern China has an unusual problem—a lengthy queue of tankers waiting up to two weeks to unload Continue Reading
Fishermen pass a row of vessels are moored in the waters along a row of shipyards northwest of Waterfront City on Batam island, in Indonesia’s Riau Islands Province February 26, Continue Reading
A squeal of brakes, the screech of ripping metal and a battery-powered, three-wheel scooter — top-heavy with parcels for delivery — tips over after hitting a car. The courier picks Continue Reading
Solar Power Cells Several years ago, when I was working on my book Power Plays , I spent a lot of time thinking about the future of energy. One thing Continue Reading
U.S. oil prices were lifted early on Tuesday by the start of the peak demand summer driving season, although international fuel markets were weighed down by rising output in the Continue Reading
Oil prices dipped on Monday as a strong dollar weighed on markets and Canadian oil sands production was expected to increase this week. Crude markets, however, did receive some support Continue Reading
Oil traded near $50 after a drop in active rigs in the U.S. and further supply disruption in Nigeria. Futures rose as much as 0.8 percent in New York. Rigs Continue Reading
Oil-supply outages are at their highest level in more than a decade, bolstering the “fear premium” that has helped push crude prices to $50 a barrel. About 3.5 million barrels Continue Reading
The oil market doomsayers are beginning to capitulate. Speculators reduced bets on falling prices to the lowest level in 11 months as oil briefly breached $50 a barrel on signs Continue Reading
The net debts of the largest Western oil companies have surged by a third over the past year, increasing their vulnerability to another fall in oil prices. The aggregate net Continue Reading
Total global oil production could decline for the next several years in a row as scarce new sources of supply come online. According to data from Rystad Energy, overall global Continue Reading
The Organization of the Petroleum Exporting Countries isn’t likely to take any coordinated action on crude-oil output at its meeting on Thursday, representatives said, as the group sees signs of Continue Reading
OPEC members gathering in Vienna June 2 are expected to go along with a Saudi Arabia-led policy focused on squeezing out rivals amid signs the strategy is working. That means Continue Reading
Iraq will supply 5 million barrels of extra crude to its partners in June, industry sources familiar with the issue said, joining other Middle East producers by lifting market share Continue Reading
Iraqi forces started pushing into the city of Fallujah on Monday as a wave of bombings claimed by the Islamic State group in Baghdad and near the Iraqi capital killed Continue Reading
African countries face new hurdles in their quest to turn on the lights for about 621 million people as global financiers become increasingly reluctant to fund non-renewable energy projects. It Continue Reading
Militants blew up strategic gas and crude pipelines belonging to Shell and Agip on Saturday in an increasingly fierce campaign that has chopped Nigeria’s oil production in half, militants and Continue Reading
Lufthansa has cancelled the only flight between Germany and Venezuela, underlining the worsening conditions and growing isolation of the South American country. The German airline has flown from its Frankfurt Continue Reading
Oh, that men should put an enemy in their mouths to steal away their brains.Nicolás Maduro’s stint as president of Venezuela has had Shakespearean overtones from the start. Ascending to Continue Reading
Suncor Energy said it expects to restart its Canadian oil sands operations, such as work… Canada’s largest crude-oil producer said it expects initial production to commence by the end of Continue Reading
Falling oil prices which started in late 2014 have highlighted an increased emphasis on the cost of producing oil, particularly from shale oil formations in the U.S. With 50 percent Continue Reading
Crude Oil Pipeline Chinese conglomerate Yantai Xinchao has US$1 billion to blow and is looking to buy oil-producing assets in the Permian Basin as it moves aggressively to expand its Continue Reading
Climate change deniers like to style themselves as latter-day Copernicuses and Galileos , lone visionaries bucking the established wisdom of the ages embodied back then in the teachings of the Continue Reading
Dollar strength returns to pressure prices lower, while a bout of profit-taking after hitting the psychological level of $50 is spurring on selling into the holiday weekend. Hark, here are Continue Reading
Workers on the top deck of the Polar Pioneer oil rig in Seattle in June… The world’s biggest energy companies are treating with caution the rally that briefly lifted crude-oil Continue Reading
Oil prices fell further below the key $50 threshold Friday , as investors took profits from the recent rally and the dollar strengthened. Trading volume was among the lowest for Continue Reading
Oil trimmed its third weekly advance as Canadian energy producers moved to resume operations after wildfires eased. Futures fell 0.9 percent in New York, paring the weekly advance to 2.7 Continue Reading
With the price of oil finally touching $50 a barrel this week, producers and speculators have been loading up on options to protect themselves from a downside risk, signaling there Continue Reading
Oil futures slipped in Asian trade on Friday after hitting resistance at the $50 a barrel mark as investors worried higher prices could reactivate shuttered crude output, adding to global Continue Reading
The nation’s crude oil fortunes took another downward plunge, yesterday, following attacks by Niger Delta Avengers, NDA, on pipelines close to Escravos Tank Farm at Ciera creek, near Abiteye community, Continue Reading
The annual meetings of some of the world’s largest oil companies this week were like therapy sessions for an industry that is suffering from existential angst. The international objective of Continue Reading
South Sudan’s transitional government has announced it will resume oil production by July after a halt of more than two years during a bloody civil war for control of the Continue Reading
In two simultaneous attacks late on Thursday, the Niger Delta Avengers (NDV) have targeted a state-run crude pipeline near the Batan oilfield. The oil and gas pipeline is near the Continue Reading
Saudi Arabia is offering extra crude to customers in Asia, a sign the world’s largest oil exporter does not intend to cut output as it battles for market share with Continue Reading
Tengiz Oil Field I wrote Wednesday about Australia’s Oil Search making a major $2.2 billion investment in Papua New Guinea natural gas. Noting this as a sign the right projects Continue Reading
