Iraqi Nat Gas Plant Freed from the Hands of ISIS
Iraqi army Iraqi forces liberated the Fallujah natural gas plant held by the Islamic State on Monday, according to local news reports that cited an anonymous security source in the Continue Reading
Who Are the Militants Attacking Nigeria’s Oil Industry? Q & A
Attacks on pipelines in Nigeria’s oil-rich Niger River delta region have slashed crude output to the lowest level in 27 years and shut all but four of the country’s 23 Continue Reading
Angola: Lawyers Plot to Block New Post of Angola Leader’s Daughter
Twelve Angolan lawyers have decided to block the appointment of the President’s daughter as a non-executive administrator of the state-owned oil firm Sonangol. President José Eduardo dos Santos, 73, who Continue Reading
Ex-Nigeria President Confident Talks Can Curb Oil Region Attacks
Former Nigerian President Goodluck Jonathan expressed confidence that the authorities can reach an agreement with militants in the Niger River delta to stop their attacks that have slashed production of Continue Reading
Venezuelan woman shot dead during latest looting
A Venezuelan woman died on Monday after being shot in the face when looters raided state food warehouses in the latest unrest in the crisis-hit OPEC nation, her family said. Continue Reading
Shell Deepens Spending Cuts, Promises Higher Savings From BG
Royal Dutch Shell Plc cut spending plans further and promised increased savings following its record purchase of BG Group Plc as it continues to adjust to the slump in oil Continue Reading
Millions of New Vehicles in India Give Oil Prices a Lift
India’s rapid economic expansion—especially its growing appetite for cars—has fueled that nation’s oil consumption. The latest rebound in oil prices is getting help from an unexpected source: surging demand from Continue Reading
Massive 800 MegaWatt-hour Battery to Be Deployed in China
China will soon be home to the world’s largest battery. The massive power facility will provide peak shaving, grid stability, emergency power, and load management to the Dalian peninsula in Continue Reading
Groups urge U.S. Congress to reject TPP over environmental concerns
More than 450 groups on Monday called on Congress to reject the Trans-Pacific Partnership (TPP) if it comes up for a vote this fall, saying the trade deal would allow Continue Reading
Devon Energy to get nearly $1 billion from asset sales
U.S. oil and natural gas producer Devon Energy Corp ( DVN.N ) said it would sell assets in Texas for nearly $1 billion and that it was making progress on Continue Reading
Oil Near ‘Sweet Spot’ Puts U.S. Rig Count Back in Focus: Chart
The more the pound is rattled by public opinion, the more attention it gets from the rest of the world. Brexit Watch: The pound, the polls, and the probability of Continue Reading
Hercules Offshore to sell assets in bankruptcy
U.S. rig company Hercules Offshore said Monday it was returning to Chapter 11 bankruptcy and now planning to sell off all of its assets. Crude oil prices are up more Continue Reading
North Dakota lost four rigs from last week
North Dakota energy trajectory shifted direction, losing rigs after showing a dramatic increase during the last week in May, state data for Monday show. North Dakota reports 25 rigs in Continue Reading
Four tremors recorded near Oklahoma shale
Four minor earthquakes were reported in and around the shale reserve basins in Oklahoma in the last 24 hours, the U.S. Geological Survey found. The USGS recorded three minor tremors, Continue Reading
Yellen Says Latest Jobs Report Raises Questions About Economic Outlook
Janet Yellen speaks at a World Affairs Council of Philadelphia event on Monday. Federal Reserve Chairwoman Janet Yellen affirmed Monday that the central bank won’t be raising short-term interest rates Continue Reading
U.S. Crude Exports Hit 96 Year High
Mid Continent Well U.S. crude oil exports rose to 591,000 barrels per day in April, up 83,000 barrels from March, according to new data from the U.S. Census Bureau on Continue Reading
U.S. Supreme Court Backs Chevron in Treaty Dispute with Ecuador
Chevron offices The United States Supreme Court declined to hear an appeal lodged by the government of Ecuador that contested a $96 million arbitration settlement awarded to the American oil Continue Reading
Regulators Fear $1 Billion Coal Cleanup Bill
Photo An idled West Virginia coal facility. Officials fear bankrupt coal companies are not setting aside enough to clean up Appalachia’s polluted rivers and mountains. Regulators are wrangling with bankrupt Continue Reading
Russia: Carmaker Asks Workers To Retire Early
Russian carmaker AvtoVAZ is asking employees to voluntarily retire in exchange for a generous retirement package, Vedomosti reported June 6. The company, which is one of Russia’s biggest employers outside Continue Reading
No, Norway isn’t banning diesel and petrol cars – yet
When Dagens Næringsliv (DN) reported on Friday that the government coalition and its two support parties had reached a deal to stop the sale of petrol and diesel vehicles in Continue Reading
Floods, Protests Risk Denting French Economic Recovery
Persisting social unrest and torrential rains risk damping France’s economic recovery. At a time President Francois Hollande is struggling to maintain economic momentum, the costs of floods and strikes hitting Continue Reading
Pound Tumbles as Much as 1.1% After Polls Show Brexit Favored
The pound slumped as much as 1.1 percent after weekend polls showed Britons favor exiting the European Union, spooking some investors who have been betting the U.K. would vote to Continue Reading
EDF Energy starts construction of Blyth offshore wind farm in UK
The logo of France’s state-owned electricity company EDF is seen next to the Electricite de France (EDF) thermal electricity production plant in Cordemais, France, April 21, 2016. EDF Energy Renewables, Continue Reading
Why Oil Bears Are Still Wrong
Oil production is probably close to its peak level currently. At best supply can stay the same, but is more likely to drop. Global oil demand, though, has been growing Continue Reading
Oil Advances While U.S. Rig Count Increases 2nd Time This Year
Crude rose while the number of rigs drilling for oil in the U.S. rose for only the second time this year. Futures in New York gained as much as 0.7 Continue Reading
OPEC Optimism Masks Challenge to Oil’s Rally From 12-Year Low
Oil’s recovery from a 12-year low may be too good to last as Iranian output rebounds faster than expected. OPEC last week stuck to its policy of unfettered production, deciding Continue Reading
OPEC Unity Keeps Oil Near $50, Sends Speculators to Sidelines
OPEC meetings aren’t what they used to be. Far from sending the oil market into gyrations, the run-up to last week’s OPEC meeting kept oil pinned near $50 a barrel Continue Reading
Asian shares rise, dollar nurses losses after jobs shock
Asian shares rose on Monday and the dollar wallowed close to its lowest in nearly a month after U.S. nonfarm payrolls showed the slowest job growth in more than five Continue Reading
Saudi Arabia Cuts Oil Prices in Europe as Iran Ramps Up Exports
Saudi Arabia on Sunday cut its oil prices to Europe, signaling mounting competition after OPEC failed to cap its output amid Iran’s exports ramp up. In an email sent to Continue Reading
Exclusive: As Iran’s oil exports surge, international tankers help ship its fuel
An Iranian military fighter plane flies past an oil tanker during naval manoeuvres in the Gulf and Sea of Oman April 5, 2006. More than 25 European and Asian-owned supertankers Continue Reading
‘Niger Delta Avengers’ Sabotage Oil Output
A band of saboteurs that calls itself the Niger Delta Avengers has been prowling the swamps of Nigeria’s petroleum-rich south for four months, bombing pipelines and diving underwater to destroy Continue Reading
Oil Drillers Have a Few Sweet Spots Left
A Continental Resources production site in Oklahoma’s so-called Stack oil region. America’s oil and gas producers are still finding places where they can prosper even at today’s lower prices. Companies Continue Reading
Multi-car oil train derails in Oregon: officials
A multi-car oil train derailed in northern Oregon on Friday, about 70 miles (110 km) outside of Portland, officials confirmed, though there were no initial reports of injuries. Black smoke Continue Reading
Bank of Scotland warns of further North Sea pain after ‘severe’ oil slump
North Sea oil companies are poised to make even deeper cuts to the embattled workforce this year as almost half say that costs need to fall further to manage the Continue Reading
Dollar Weakness Fails To Stimulate Oil Prices
Alberta Tar Sands Seventy-four years after the birth of Curtis Mayfield, and oil prices are struggling to move on up, despite a wilting dollar due to a shocker of a Continue Reading
Oil Prices Hover Around $50 a Barrel After OPEC Meeting
Brent crude, the international benchmark, bobbed at the $50 barrel mark in Asian trade Friday as traders weighed their options between the upbeat U.S. oil data, the resumption of Canadian Continue Reading
U.S. labor data pulls oil prices back from $50
The price of crude bounced back below the $50 mark Friday after the latest figures from the U.S. Labor Department suggested growth may have peaked. The U.S. Bureau of Labor Continue Reading
OPEC changes nothing of substance, but at least they’re being civil: Russell
There are two ways of looking at the OPEC meeting in Vienna, and neither is wrong. Firstly it was a success as the Saudis and Iranians managed to be relatively Continue Reading
Saudi’s deputy crown prince to visit US
Saudi Arabia’s powerful deputy crown prince is expected to visit Washington in mid-June for talks with top U.S. officials, possibly including President Barack Obama, amid growing friction between the longtime Continue Reading
Why OPEC’s Inaction Didn’t Harm Oil Markets
In this week’s key data for the oil and gas industry, we continue to see a decline in U.S. crude inventories and gasoline stocks while U.S. production keeps on following Continue Reading
Iranian Oil Minister Gains Influence in OPEC
When a handful of OPEC countries floated a proposal to reintroduce production limits on members on Wednesday, it took only a few hours for Iran to quash the idea with Continue Reading
Libyan commander says his forces are inside IS stronghold
A top Libyan commander loyal to the U.N.-brokered government says his forces have pushed into an Islamic State stronghold in central Libya and are now fighting militants on the streets Continue Reading
Iran Sees Better OPEC Climate as Rivals Accept Its Rising Output
Relations among OPEC members have improved significantly after several acrimonious meetings as the oil-producing group accepts Iran’s revival of crude output, the Iranian oil minister said. “We had a meeting Continue Reading
Fresh Attacks in Niger Delta Target Shell, Eni Installations
Niger Delta militants have launched multiple attacks on oil installations over the past 24 hours, reportedly targeting Shell’s Forcados terminal again and additional sections of the AGIP crude oil pipeline Continue Reading
After Massive Shake Up, President’s Daughter to Head Angola’s Oil Gian
Isabel dos Santos Long-time Angolan President Jose Eduardo dos Santos has appointed his daughter to lead the oil-rich country’s state-run oil giant Sonangol after firing the entire board and replacing Continue Reading
Nigeria: Niger Delta Avengers Strikes Again, Reinstates Vow to Bring Nigeria’s Oil Production to ‘Zero’
Niger Delta Avengers, the new militant group that has claimed responsibility for a string of attacks on oil and gas installations in the Niger Delta, continued its disruption of Nigeria’s Continue Reading
Nigeria: Avengers Blow Up Shell Pipeline, Claims Oil Production Now 800,000 B/D
The Niger Delta Avengers said early Friday morning it has blown up Shell’s forcados 48 export pipeline, one of Nigeria’s biggest export terminals, which was under repair after the group Continue Reading
Nigerian Militants Say Aim is Zero Oil Output After Three New Attacks
The Niger Delta Avengers militant group has claimed responsibility for three new attacks on Nigeria’s oil infrastructure, promising to cut production to zero. The attacks are the latest in a Continue Reading
Nigerian militants warn of ‘zero’ oil output in new attacks
The Niger Delta Avengers militant group has claimed three new attacks on Nigeria’s battered oil infrastructure, promising to drag production down to “zero”. The attacks are the latest in a Continue Reading
Exxon CEO Says Argentina Shale Investment May Exceed $10B
Exxon Mobil Corp. may invest more than $10 billion in Argentina’s Vaca Muerta shale formation in the next decades, Chairman and Chief Executive Officer Rex Tillerson says. (Bloomberg) — Exxon Continue Reading