WTI surges 29% in second quarter as global supply glut easing IEA, OPEC see market balancing as output growth lags demand Oil headed for the biggest quarterly advance in seven Continue Reading
Oil prices fell in early trade on Thursday, with Brent futures struggling to defend $50 per barrel as fears over strike outages in Norway faded and as Nigeria’s production improved. Continue Reading
Oil prices edged up Wednesday on bullish data from the American Petroleum Institute and the threat of a strike by oil and gas workers in Norway. The global benchmark, Brent, Continue Reading
Oil prices rose in early trading in Asia on Tuesday as a looming strike in Norway threatened to cut output in western Europe’s biggest producer, although Britain’s vote to leave Continue Reading
If ceasefire deal is sustainable, oil output could recover ‘Cautiously’ assumes disruptions at 350,000 b/d in second half Goldman Sachs Group Inc. said oil may trade below its $50 forecast Continue Reading
Oil prices rose again on Wednesday, as fears over the fallout from the Brexit continued to abate. But some potential supply outages also added positive momentum to crude oil. A Continue Reading
Fossil fuel-producing companies have been thrown onto the defensive over the last two years by the argument that many of their reserves will be “stranded” as the world transitions to Continue Reading
Indigenous IS fighters in northern Diyala province are using insurgent tactics to threaten areas that have ostensibly been reclaimed by government-backed forces. Kurdish Peshmerga Asayesh security forces search for suspected Continue Reading
Though some geopolitical conflicts may impede the progress, Azerbaijan is positioned to become one of the region’s key players in natural gas, analysis finds. A review from the U.S. Energy Continue Reading
Helium Spring There’s a global helium shortage. It’s not among the widely publicized problems of the world, but there is undoubtedly a helium deficit – the noble gas that most Continue Reading
The Trans Niger Pipeline (TNP), one of Nigeria’s key oil pipelines remains shut for repairs, Shell spokesman Precious Okolobo said by phone yesterday. The pipeline, which carries Bonny Light crude Continue Reading
U.S. crude oil stockpiles fell sharply last week and gasoline inventories posted an unseasonably surprise large build as refineries ramped up production, the U.S. Energy Department said on Wednesday. Crude Continue Reading
Nation leads world in installations with 1-in-3 machines Grid halts some facilities to cope with excess power flows Trouble may be brewing in China’s renewable energy industry if idled wind Continue Reading
To paraphrase Dickens, it is the best of times, it is the worst of times in the oil patch. Two major mergers in the last six months appear to be Continue Reading
The US Gulf Coast crude market saw regional sour grades strengthen Wednesday after reports of shuttered production at the BP-operated Thunder Horse platform in the US Gulf of Mexico. Crude Continue Reading
Floating solar panel arrays are increasingly being deployed in places as diverse as Brazil and Japan. One prime spot for these “floatovoltaic” projects could be the sunbaked U.S. Southwest, where Continue Reading
Exxon’s official position has long been the same—a carbon tax is the best way to… Exxon Mobil Corp. XOM 1.70 % is ramping up its lobbying of other energy companies Continue Reading
Markets don’t like uncertainty, so it wasn’t a huge surprise that oil prices initially dropped by 5% in the wake of the UK’s unexpected vote last week to leave the Continue Reading
Oil prices rose in early trading in Asia on Tuesday as a looming strike in Norway threatened to cut output in western Europe’s biggest producer, although Britain’s vote to leave Continue Reading
Oil Rig There has been a lot of pessimism among oil investors in recent months, and indeed the bear market over the last couple of years in black gold has Continue Reading
Natural Gas Storage Natural gas prices are on a tear, and every small dip is being aggressively bought by the traders. Technically, the current rally should rise to the next Continue Reading
IOCs are investing enough to boost Iraq’s overall output despite tight budgets, but short-term fixes are masking fundamental issues that could undermine medium-term growth. Rigs working the Rumaila oilfield in Continue Reading
Russia has indicated that it is ready to restart negotiations on the Turkish Stream gas transport project, after the Turkish president sent an official apology for the downing of a Continue Reading
The tensions unsettling the Saudi royal family became clear in September, when Joseph Westphal, the U.S. ambassador to Riyadh, flew to Jiddah to meet Crown Prince Mohammed bin Nayef, nominally Continue Reading
French energy company Total said Tuesday it would send its best talent to Qatar to help advance production at an offshore oil field through a new joint venture. Total signed Continue Reading
In the darkness the warehouse looks like any other, a metal-roofed hangar next to a clattering overpass, with homeless people sleeping nearby in the shadows. But inside, workers quietly unload Continue Reading
Contractors have cut back the drilling of oil in Venezuela amid a rising unpaid debt owed to suppliers by the Latin American country’s government and state-owned producer PDVSA. As originally Continue Reading
Oil traders plan to fill storage tanks and ships with crude in the third quarter to ride out a low demand season in Asia, hoping to cash out in the Continue Reading
The layoffs continue in oil and gas as two more companies announce workforce reductions in Texas. Weatherford Artificial Lift Systems and Sun Fab Industrial Contracting are reducing staff by 90 Continue Reading
Main Led by Tesla, China’s BYD, and Volkswagen, the battery market for plug-in vehicles will rise to $10 billion in 2020, with electric vehicles (EV) emerging as the drivetrain of Continue Reading
Surviving the oil price crisis is tough enough on its own, but some oil industry players have had particularly bad luck, and some, such as Chevron, may very well have Continue Reading
Higher refinery output in the United States and troubling economic news overseas could put downward pressure on retail gas prices, market analysis finds. Motor club AAA reports a national average Continue Reading
A Texas oil economist said job prospects for those working in the energy sector are mediocre at best even as markets start to return to relative stability. Crude oil prices Continue Reading
A North Dakota refinery that was the first to be built in the United States since the 1970s has been sold at a loss, with profit elusive since it opened Continue Reading
The UK’s decision to leave the European Union sparked turmoil in financial markets around the world at the end of last week, but stocks rebounded on Tuesday in an early Continue Reading
Oil prices rose in early trading in Asia on Tuesday as a looming strike in Norway threatened to cut output in western Europe’s biggest producer, although Britain’s vote to leave Continue Reading
The UK’s decision to leave the European Union will make “little difference” to the crude oil markets, according to a brief research note from FirstEnergy. The UK’s decision to leave Continue Reading
The UK’s Brexit vote is expected to have a bearish effect on the global LNG market due to the weakening of European currencies, several trading sources said Friday. News of Continue Reading
As the U.S. dollar flexes its muscles once again and broader markets adopt a decidedly risk-off stance, oil prices are charging lower amid unknowns surrounding last week’s Brexit decision. Hark, Continue Reading
Oil prices were slightly lower Monday as global trading reopened for the week following the U.K.’s unexpected decision to leave the European Union on Friday. The global benchmark, Brent, was Continue Reading
Oil minister Bijan Zanganeh has handed the running of Iran’s national oil company to a trusted ally in a push to agree long-awaited deals with global oil majors, which could Continue Reading
Oil Minister Zanganeh tells ISNA up to 15 fields to be offered Iran will initially seek to develop fields along border Iran plans to issue tenders to develop its oil Continue Reading
Iraqi oil player Gulf Keystone Petroleum said it received only part of the payment it billed the Kurdish regional government for crude oil exports in May. The company said it Continue Reading
The U.S. has seen several weeks in which the levels of crude oil sitting in storage have declined, falling from 80-year record highs. Inventories have dropped more than 10 million Continue Reading
Companies agree to study chemicals complex in Saudi Arabia Kingdom seeking to build manufacturing based on oil, chemicals Saudi Arabian Oil Co. and Saudi Basic Industries Corp. are one step Continue Reading
Last week, my article on the Saudi Arabian oil and solar outlook, titled Saudi Arabia’s Solar Planning Is Paved in Oil Production , certainly shook up a hornet’s nest in Continue Reading
International oil companies (IOCs) are expecting to help Iraq achieve modest production gains in the next year – a sign that the oil sector is weathering a series of interlocking Continue Reading
The company that proposed the Keystone XL pipeline is seeking $15 billion in damages from the federal government after the Obama administration rejected the Canada-to-Texas project, a company spokesman said Continue Reading
Venezuelans ‘Live to Repair’ Following Collapse of Car Industry Dollar shortages mean even scrapyards are running out of parts Recent deals may point to revival in local car manufacturing Adolfo Continue Reading
Venezuela’s Oil Output Decline Accelerates as Drillers Go Unpaid Service companies owed more than $1 billion scale back work Crude output could decline further from a six-year low Venezuela’s oil Continue Reading
