Fighters aligned with Libya ’s United Nations -backed unity government are advancing along the Mediterranean coast toward the Islamic State stronghold of Surt, signaling the first major assault on territory Continue Reading
Some of Chevron’s highest producing assets in the Niger Delta were blown up early Wednesday, the regional militant group Niger Delta Avengers claimed on social media. With the heavy presence Continue Reading
Nigerian oil minister Emmanuel Ibe Kachikwu said on Thursday he saw “open-mindedness” in the OPEC meeting, but did not know what the outcome would be. Oil ministers from the Organization Continue Reading
The Niger Delta Avengers in the early hours of today blew up two major oil wells located at Dibi in Warri South West local government area of Delta State. The Continue Reading
Poor weather and power outages cut into exports but an upward trend in the global oil price puts more money in Iraqi coffers. A tanker at the al-Basra Oil Terminal Continue Reading
Venezuela’s President Nicolas Maduro speaks during his weekly broadcast ”En contacto con Maduro” (In contact with Maduro) at the Miraflores Palace in Caracas, Venezuela, May 31, 2016. Miraflores Palace/Handout via Continue Reading
The consortium designing and building the Panama Canal’s new set of expanded locks says they are working at full capacity and ready to receive their first ships. Grupo Unidos por Continue Reading
Something has changed in the coal industry. For the past 22 years Asia’s coal producers, traders and buyers have gathered in the Indonesian resort island of Bali to discuss the Continue Reading
The shale revolution helped drive oil prices down to levels not seen in over a decade. Now, some analysts are wondering whether U.S. producers will be able to cap the Continue Reading
Chinese fuel makers rushing to cash in on the nation’s booming car market may end up creating a glut of gasoline, possibly forcing the excess onto overseas markets. Stockpiles of Continue Reading
China is planning changes to the way it handles oil reserves by allowing private companies to build and operate some of its strategic stockpiles, while also requiring companies to maintain Continue Reading
U.S. manufacturing grew for a third straight month in May, but factories appeared to be taking in fewer deliveries from their suppliers, which could hamper production in the months ahead. Continue Reading
A nun from an influential interfaith coalition with U.S. $100 billion in assets that include a stake in ExxonMobil is pushing for change, but the supermajor isn’t bowing to anyone Continue Reading
U.S. banks have seen their earnings drop 2 percent in the first quarter of this year as low oil prices have finally turned into unpaid energy loans. In the first Continue Reading
As crude prices plummeted last summer, Steve Pruett, chief executive of a small west Texas oilfield developer, idled a drilling rig, opting to pay $21,000 a day to store it Continue Reading
Global airline earnings are set to be $3.1 billion higher this year than previously estimated as the impact of lower fuel costs makes up for a slowdown in passenger growth, Continue Reading
In Cherry Point, Wash., an $850 million coal-export terminal was rejected in May. The site’s… Many major fossil-fuel projects across the U.S., from pipelines to export terminals, have been shelved Continue Reading
Production hold-ups at key manufacturing plants helped to push General Motors’ US sales in May down 18 per cent, against a backdrop of concerns about how long the boom of Continue Reading
Petroleum Refinery In 2015, the U.S. was the largest producer of petroleum and natural gas hydrocarbons in the world by a wide margin, according to U.S. Energy Information Administration (EIA) Continue Reading
Oilfield equipment supplier National Oilwell Varco (NOV) is laying off 54 workers at its facility in Galena Park, near Houston, according to a letter to the Texas Workforce Commission. In Continue Reading
The Central Bank of Russia in Moscow. Economic officials at the Kremlin said growth won’t return to Russia at least for another year, though the downturn is becoming less severe. Continue Reading
French refineries and ports continued to face disruptions Wednesday as the strike called by the CGT union against changes in labor legislation entered its second week and is also spreading Continue Reading
European researchers have devised a new way to make nanoparticles that could replace rare-earth material use in magnets. The researchers used a mixed iron-cobalt oleate complex in a one-step synthetic Continue Reading
Oil slipped a fourth day, heading for the longest run of declines in six weeks, as OPEC ministers gather in Vienna ahead of a meeting on Thursday to discuss production Continue Reading
Oil prices fell on Wednesday on expectations of high and rising exports from the Middle East, while concerns about China’s economy weighed on the demand outlook. Brent crude futures were Continue Reading
It’s easy for U.S. drivers to forget the high gas prices in recent years after the ultra-lows seen only months ago, but prices going into the summer months of 2016 Continue Reading
We begin by taking a quick look at some of the critical figures and data in the energy markets this week, which show that, despite Canada bringing oil back on Continue Reading
Analysts are once again raising their oil price forecasts, in a reflection of falling concerns over the glut in crude supply. That takes pressure off members of the Organization of Continue Reading
Oil prices touched $50 and quickly faded, repeating a pattern from last week amid warnings from analysts that oil’s strongest rally in seven years may have gone too far on Continue Reading
Global oversupply in crude oil is likely to limit price gains this year despite a series of unplanned outages and shrinking U.S. shale production, a Reuters poll showed on Tuesday. Continue Reading
Most investors can tell you how much a barrel of oil fetches today. Those in the industry can, too, of course, but they are watching another number closely: how much Continue Reading
Natural Gas Power Plant $50 per barrel oil is clearly less impossible to live with than $30 per barrel oil, because most businesses cannot make a profit with $30 per Continue Reading
In November 2013, the United States Library of Congress released a report describing Algeria’s macroeconomic position as “strong” during a month when Brent oil prices cruised at $108.08 per barrel—more Continue Reading
How badly do oil producers want to transition out of the deepwater and focus on shale? And guess what that means for the global oil price? Exxon Mobil (NYSE:XOM) just Continue Reading
The oil majors are at a crossroads and there are growing signs that their business model can no longer last. The combined effects of cheap oil, the increasing difficulty in Continue Reading
Summary Transportation fuels make up the large majority of crude oil consumption. Increasing fuel efficiency and the improvements in electric vehicles will inevitably lead to demand destruction for the primary Continue Reading
One government goal, to bring more Saudi women into the workforce, has upset some conservative… RIYADH—Saudi Arabia’s leadership has taken up the challenge of weaning the kingdom from its dependence Continue Reading
A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf July 25, 2005. OPEC’s oil output fell in Continue Reading
We’re Seeing the Death of the OPEC Cartel For more than two decades, the people of Vienna have witnessed a peculiar ritual that’s been a firm fixture of OPEC’s regular Continue Reading
Iran plans to invite international companies to bid for oilfield development rights in June, a government official said, as the Persian Gulf country seeks to revive its energy industry after Continue Reading
Saudi Arabian Oil Co., the world’s largest crude producer, plans to increase the capacity of its main cross-country pipeline by 40 percent as the company expands oil fields in the Continue Reading
Saudi Arabia has summoned bankers to meetings in Riyadh next week as the oil exporter seeks to launch its debut international bond of around $15bn as early as July. Bankers Continue Reading
An oil rig, abandoned in fall 2014 as IS militants neared, has been fully secured as Kurdish and coalition forces gain ground between Erbil and Mosul. Peshmerga forces loading up Continue Reading
Nigeria’s oil-dependent economy is under siege from militants who are targeting oil and gas installations in the Niger Delta. President Muhammadu Buhari is to make his first visit to the Continue Reading
A militant group calling itself the Niger Delta Avengers issued a warning to oil companies working in the region that its campaign is about to get bloody. The Niger Delta Continue Reading
Venezuela is running out of just about everything. Food, medicine, electricity, toilet paper, condoms — you name it. And over the weekend at least two large international airlines — Lufthansa Continue Reading
Venezuela’s Oil Minister and President of the Venezuelan state oil company PDVSA Eulogio del Pino attends a plenary session of the National Oil and Gas Forum in Moscow, Russia, April Continue Reading
Mexican state oil giant Pemex has until 2018 to meet new fuel quality standards that will affect 40 percent of its diesel production that does not yet comply, the energy Continue Reading
As Venezuela drowns in debt and takes its state-run oil company, PDVSA, down with it, Reuters is reporting that BP has over 2 million barrels of oil stuck at a Continue Reading
Sadly, everyone has seemingly forgotten that the lessons of the past can help prepare us for the future. For example, one would assume that the sting of owning an truck Continue Reading
