The latest oil bet: from too much to too little
Oil investors are finally buying into the notion that the biggest risk to the price now is likely to be supply falling short of demand, rather than from any stubborn Continue Reading
IMF program pushes Iraq to pay oil companies
Iraq’s recent agreement with the International Monetary Fund (IMF) is giving oil companies a boost in their quest to secure timely payments from the government.The IMF’s standby agreement, announced in Continue Reading
Eni and BP Make “Significant” Gas Discovery in Egypt
A new natural gas discovery on the coast of Egypt’s Nile Delta has been made by Eni and British Petroleum (BP). The two companies own a 50-50 share of the Continue Reading
Saudi Arabia To Tax Foreign Residence As Oil Crisis Continues
The troubles that Saudi Arabia has been facing due to the plunge in oil prices have been discussed many times, most recently when Saudi authorities ordered banks to stop allowing Continue Reading
Libya conflict: Government forces ‘advance’ against IS-held Sirte
Image caption Government forces say they have already captured several strategic areas on Sirte’s outskirts Significant gains have been made by Libyan government air, sea and land forces fighting to Continue Reading
At Least 24 Dead in Islamic State Bombings in Baghdad
Under an onslaught of bombs and enemy ground offensives aimed at its strongholds in Syria and Iraq, Islamic State hit out again with attacks in crowded public areas of Baghdad Continue Reading
Saudi Aramco IPO: Wall Street’s White Whale
Some deals only happen once in a blue moon. Others only come around once in a generation. But the one Wall Street bankers are eyeing in the deserts of Saudi Continue Reading
Russian company brings more oil online in Iraq
Production from three new wells brought online at the Badra oil field add to the total daily output from OPEC-member Iraq, a Russian field operator said. Russian energy company Gazprom Continue Reading
U.S. hopes to flex energy muscle with oil reserve makeover
The United States boasts the world’s largest stash of emergency oil supplies, yet the country’s ability to influence global crude markets with releases from that reserve has waned. The Obama Continue Reading
Leisure travel helps push U.S. gasoline demand to record: Kemp
Cheaper gasoline prices are spurring significant changes in driving behavior which are in turn propelling a phenomenal increase in motor fuel consumption in the United States. U.S. motorists consumed an Continue Reading
Venezuela Opposition Tells Wall Street It’s Referendum or Crisis
One of Venezuela’s top opposition figures is warning Wall Street that a recall referendum is the only way of staving off a full-blown crisis in the South American nation already Continue Reading
Only Five Oil Majors Make The Fortune 500 List
The latest Fortune 500 list has four oil majors in the top 100 – Exxon, Chevron, Marathon Oil, and ConocoPhillips – and another one, Devon Energy at 219. All of Continue Reading
Anti-Fracking Group Disrupts Colorado Governor’s Book Signing Event
A Colorado anti-fracking group crashed Colorado Governor John Hickenlooper’s book event over his support of fracking in the state, ending in assault claims as well as a few citations. The Continue Reading
Platts China Oil Analytics: China Oil Demand Fell 1.3% Year over Year in April
China’s apparent oil demand contracted by 1.3% in April 2016 from a year earlier to 11.36 million barrels per day (b/d), according to a just-released analysis of Chinese government data Continue Reading
Ukraine sees Russian gas offer as too high, plans imports from Europe
Ukraine is likely to ignore a recent Russian offer for gas supplies in the third quarter of 2016 in favor of buying elsewhere in Europe, Yury Vitrenko, a deputy head Continue Reading
Oil Slump Causes 120,000 U.K. Job Cuts Since 2014 Industry Peak
The U.K. oil and gas industry will ax 120,000 jobs by the end of the year following the collapse in oil prices, according to a lobby group. This year, 330,000 Continue Reading
Europe’s Final Hope For Energy Independence From Russia
Europe’s reluctance towards reliance upon Russian natural gas trade is no secret. It’s also no surprise, due to fallouts between Russia and Ukraine (a major transit country for the trade) Continue Reading
Oil Trades Near 10-Month High as U.S. Crude Stockpiles Decline
Oil traded near the highest closing level in more than 10 months amid declining U.S. crude stockpiles and disruptions in producing nations such as Canada and Nigeria. Futures were little Continue Reading
Oil prices soften on profit taking after hitting 2016 highs
Oil prices edged lower on Thursday as traders took profits after three sessions of gains, though prices remained close to their highest this year thanks to a fall in U.S. Continue Reading
Oil rises, hits 2016 highs; U.S. gasoline build worries some
Crude futures rose on Wednesday, hitting 2016 highs above $50 a barrel and settling up for a third straight day on worries about sabotage of oil facilities in Nigeria, although Continue Reading
The Oil Futures Market Tells Us The Glut Is Over
According to consulting firm McKinsey, the current oil futures market is pointing to a coming balance between demand and supply—a balance which has the potential to render most oil and Continue Reading
LNG Players to Seek New Markets, IEA Says
Major traders and sellers of liquefied natural gas will begin to look to new markets over the next five years as demand from traditional centers wanes, the International Energy Agency Continue Reading
World oil reserves stable despite drop in investment -BP
The world’s oil reserves were unchanged in 2015 despite a sharp drop in investment and exploration after the collapse in crude prices, BP said in its benchmark industry report. Proven Continue Reading
Islamic State loses ground on fronts in Syria, Iraq
Islamic State’s far-flung enemies in Syria and Iraq pressed ahead on Wednesday with major advances on multiple fronts that have put some of the greatest pressure on the ultra-hardline Islamists Continue Reading
Shell resumes Iranian oil purchases
Royal Dutch Shell has resumed purchases of Iranian crude, becoming the second major oil firm after Total to restart trade with Tehran after the lifting of sanctions, trading sources said Continue Reading
Libyan forces enter main Islamic State bastion
Libyan forces loyal to a U.N.-brokered government have advanced deep inside the coastal city of Sirte, the main stronghold of the Islamic State group’s local affiliate, officials said Wednesday. Brig. Continue Reading
Failing to Reform in Iraq
Analysis Iraq is no stranger to political instability or to general insecurity. But two developments bode particularly ill for the country: threats to the administration of Prime Minister Haider al-Abadi Continue Reading
Nigeria: Militants Reject Talks, Hit Another Oil Facility
The Nigerian militant group known as the Niger Delta Avengers rejected a dialogue proposal from the country’s government and claimed another attack on a Chevron oil well in Warri, even Continue Reading
Second Militant Group Threatens Niger Delta Oil
Ultimate Warriors Of The Niger The Ultimate Warriors of the Niger Delta, a new militant group operating from its namesake river delta, is demanding that the Nigerian government give 60 Continue Reading
A 2016 Presidential Recall Seems Less and Less Likely
Six months after the Venezuelan opposition gained control of the National Assembly, it is becoming increasingly clear that one of its primary goals — a referendum to recall the president Continue Reading
Argentina’s energy needs draw fuel tankers from around the globe
A flotilla of 21 fuel tankers from Europe, the Caribbean, Brazil and the United States is steaming toward Argentina as it ramps up imports of gasoil and liquefied natural gas Continue Reading
Mexico gets first non-Pemex gas station in almost 8 decades
For the first time in nearly eight decades, the ubiquitous Pemex gas stations have competition along Mexico’s highways and city streets. Two companies have opened three gas stations under their Continue Reading
India’s Apr-May thermal coal imports via 12 major government ports rise 1.3% on year
India’s 12 major government-owned ports handled around 18.33 million mt of imported thermal coal over April-May, up 1.3% from 18.09 million mt in the same period a year ago, according Continue Reading
Chinese oil demand slips
Oil demand in China, a leading global economy, contracted for the third straight month in part because of economic slowdown, data analysis found. Analysts with the World Bank downgraded the Continue Reading
ConocoPhillips To Restart Production Amid Alberta Gasoline Shortages
ConocoPhillips has announced it will restart production at the Surmount oil sands project, as the northern Alberta wildfire threat subsides. The company said the minor damage caused to the site Continue Reading
Oil Investor Still Bets on McClendon
As creditors line up for the assets of recently deceased oil titan Aubrey McClendon , an energy-investment firm already has claimed some of his most valuable holdings. EIG Global Energy Continue Reading
China central bank chief economist forecasts 6.8% growth in 2016
The chief economist for China’s central bank forecasts that the economy will grow 6.8 per cent in 2016, well ahead of independent estimates from the International Monetary Fund and most Continue Reading
U.S. shale gas production grows through 2040
Natural gas from shale basins in the United States accounts for more than half of the total production through 2040 to support more exports, a report finds. A review from Continue Reading
EIA Projects An Increase In Global Oil Supply
The EIA’s Short Term Energy Outlook is out. The data is in million barrels per day. (Click to enlarge) While not much has changed in the EIA’s projection since last Continue Reading
Unlikely casualty in California’s renewable energy boom: natural gas
The La Paloma natural gas-fired generating plant is shown in McKittrick, California, U.S., April 20, 2009. Courtesy of Rockland Capital/Handout via In February of 2001, then California Governor Gray Davis Continue Reading
Alberta Fire Threat Returns as Two Oil Producers Shut Sites
A new wildfire has prompted Canadian oil producers Cenovus Energy Inc. and Canadian Natural Resources Ltd. to shut production just as output was being restored in other parts of Alberta Continue Reading
Colorado Has 40 Times More Natural Gas Than Previously Estimated
Western Colorado has 40 times more natural gas than previously thought, potentially making it the second-largest formation in the country, the U.S. Geological Survey said Wednesday. Mancos Shale formation in Continue Reading
After 350,000 Layoffs Oil Companies Now Face Worker Shortages
There could be a growing shortage of skilled workers in the oil industry. That may seem counterintuitive in an industry that has been rapidly shedding workers, with more than 350,000 Continue Reading
U.S. Shale Hurting: Largest Monthly Drop In More Than A Year
U.S. crude oil production fell 150,000 barrels per day in May and the global over-supply of liquids was 680,000 barrels per day. The EIA Short-Term Energy Outlook ( STEO ) Continue Reading
Bakken Shows: U.S. Tight Oil Production is Up Against its Limits
Geology, drilling efficiency and increased focus on the best producing areas have all contributed to the dramatic increase in drilling productivity over the last 10 years in the Bakken, argue Continue Reading
Russia unveils new passenger plane it says will rival Boeing, Airbus
Russian Prime Minister Dmitry Medvedev attends a ceremony to present the Irkut MC-21 mid-range jet airliner at the Irkutsk Aviation Plant (Irkut Corporation) in Irkutsk, June 8, 2016. Sputnik/Alexander Astafyev/Pool/via Continue Reading
Putin’s Core Support Begins to Waver
Russia embarks on an almost two-year-long election season this summer that ends with a presidential contest in 2018. But unlike previous years, the country’s faltering economy has taken its toll Continue Reading
Russian Gas Drop Widens Discount to Markets to Most in 8 Years
Oil’s plunge earlier this year dragged Russian natural gas prices in Europe to the lowest level since September 2004, making them the cheapest relative to market rates in more than Continue Reading
Scientists identify protein which boosts rice yield by fifty percent
Rice is a major crop, feeding almost 50 percent of the world’s population and has retained the ability to survive in changing environmental conditions. The crop is able to thrive Continue Reading
Oil Trades Near 10-Month High as Falling U.S. Supplies Trim Glut
A manifold system, used to direct oil around the facility, stands near crude oil storage tanks stand at the Cushing storage terminal in Cushing. Oil traded near the highest close Continue Reading