Oil discoveries slump to 60-year low
Discoveries of new oil reserves have dropped to their lowest level for more than 60 years, pointing to potential supply shortages in the next decade. Oil explorers found 2.8bn barrels Continue Reading
Can Iran And Saudi Arabia’s Production Claims Be Believed?
Saudi Arabia And Iran It’s always the ultimate test when trading oil stocks – what to believe and what not to believe. Normally, you take earnings season with a grain Continue Reading
Saudi Minister Has Task of Easing Dependence on Oil
He was known as the “maestro,” the man whose every word was dissected by oil traders and moved markets. For two decades,Saudi Arabia’s oil minister, Ali al-Naimi, was the architect Continue Reading
Saudi Arabia says to maintain stable petroleum policies
Khalid al-Falih speaks to the media at the company’s booth during Petrotech 2014 (a petrochemicals conference) at the Bahrain International Exhibition Centre in Manama May 19, 2014. Saudi Arabia’s new Continue Reading
Managing Saudi’s new energy mega-ministry may bring challenges
Managing Saudi Arabia’s new energy mega-ministry, set to oversee over half the economy and designed to cut through a tangled bureaucracy to make government more coherent and efficient, will be Continue Reading
China Continues to Props Up Its Ailing Factories, Adding to Global Glut
China is doubling down on efforts to keep unprofitable factories afloat despite for years pledging to curb excess capacity, adding to a glut of basic materials flooding the global economy. Continue Reading
China Oil Imports Rise as Teapot Refinery Demand Overwhelms Port
Inbound shipments in April gain 3.2% m/m to 7.96 million b/d Oil imports by China, the world’s biggest consumer after the U.S., rebounded amid strong buying by independent refiners that Continue Reading
Alberta’s `Vicious’ Wildfires Spread to Suncor Oil-Sands Site
Wildfires raging through Alberta have spread to the main oil-sands facilities north of Fort McMurray, knocking out an estimated 1 million barrels of production from Canada’s energy hub. Fire officials Continue Reading
Alberta oil sands producers shut most power generation due to wildfires
Cogeneration power plants in the fire-ravaged Canadian oil town of Fort McMurray were operating at about 18 percent of capacity early Sunday, down from around 30 percent Friday afternoon, as Continue Reading
Canadian Wildfires Slow Their Spread as Workers Reach Safety
Cooler temperatures on Sunday helped slow the spread of wildfires that ravaged the hub of Canada’s oil sands, as the last of 25,000 evacuees from work camps around Fort McMurray Continue Reading