Low Oil Prices See China’s Oil Output Shrink 7.4%
Chinese Oil Rig China produced 7.4 percent less domestic crude oil in May compared to a year ago, settling at 16.76 million tonnes. This was due to plans by state-owned Continue Reading
U.S., Canada and Mexico vow to get half their electricity from clean power by 2025
The leaders of the United States, Canada and Mexico will pledge on Wednesday that by 2025 half of their overall electricity generation will come from clean power sources, according to Continue Reading
Did new drilling techniques hasten Bakken output fall? — Fuel for Thought
Share About nine months ago, analysts at Petrologica began questioning the oil production data coming out of North Dakota. Faced with low prices, spending cuts and a rapidly falling rig Continue Reading
North Dakota one of the few states adding rigs
North Dakota gained two rigs from last week as stability in the crude oil market brought some players back to shale, state data for Monday show. State data show 30 Continue Reading
Canada oil sands output to grow 42 percent by 2025: report
Canada’s oil sands production will grow by 42 percent to 3.4 million barrels per day by 2025, most of which will come from the expansion of existing facilities rather than Continue Reading
Study Links 6.5 Million Deaths Each Year to Air Pollution
A sobering report released on Monday by the International Energy Agency says air pollution has become a major public health crisis leading to around 6.5 million deaths each year, with Continue Reading
Brexit Brings Chaos to Europe’s Clean-Energy Goals
The departure of the EU’s second-largest economy could have unsettling implications for the Paris climate accord. U.K. voters’ decision to exit the European Union sent shock waves through world markets Continue Reading
Russia, China chart new trade course
China is ready to emerge as one of the larger trading partners with Russia in a relationship that extends from military to energy, the Chinese government said. Russian President Vladimir Continue Reading
French Oil Refining Strike Fills Europe Trading Hub With Crude
French Oil Refining Strike Fills Europe Trading Hub With Crude No empty tanks left in Rotterdam as oil diverted from France Swelling stockpiles add to signs of short-term supply surplus Continue Reading
North Sea Oil Faces Worsening Investment Drought After Brexit
North Sea Oil Faces Worsening Investment Drought After Brexit Second independence poll is ‘very much on the table’ U.K. industry is already suffering a slump in spending The U.K.’s North Continue Reading
Oil Trades Near $48 a Barrel as Brexit Spurs Market Volatility
Pound decreases further as demand for haven assets boosts gold EU exit combined with output gain may send crude lower: Russia Oil traded near $48 a barrel as the market Continue Reading
Oil extends decline as Brexit concerns linger
Oil prices dropped around half a percent on Monday, extending sharp declines after Britain’s vote to leave the European Union sparked a sharp selloff in global markets on Friday amid Continue Reading
Big Oil Faces Looming Threat from Climate-Conscious Investors
Bank financing of fossil fuel and mining projects is “undermining” the recently signed Paris climate accord. This is according to “$horting the Climate: Fossil Fuel Finance Report 2016” issued by Continue Reading
Crescent Sees $11 Billion Kurdish Gas Claim Resolved This Year
This Year U.A.E.-based company seeks damages over Middle East gas deals Separate hearing in Iran arbitration case set for October Crescent Petroleum Co., an oil and natural gas producer from Continue Reading
Nigeria: Again, Red Scorpions Blow Shell Pipeline in Imo
For the second time in a week, a new militant group in Imo State, the Red Scorpions, yesterday, may have bombed an oil pipeline belonging to Shell Petroleum Development Oil Continue Reading
Nigeria Seeks $40-$50 Billion in Oil Investment as Output Rises
Nigeria Seeks $40-$50 Billion in Oil Investment as Output Rises Country’s crude production as high as 1.9m b/d two days ago Output should rise to 2.2m b/d in July if Continue Reading
Niger Delta Avengers urge Nigeria’s Buhari to visit southern oil hub
The Niger Delta Avengers, a Nigerian militant group which has claimed responsibility for a series of attacks on oil facilities in the country’s southern energy hub, has urged President Muhammadu Continue Reading
Panama opens canal extension, only a dozen heads of state attend
A cargo ship is pictured crossing through the Miraflores locks, a day before the inauguration of the Panama Canal Expansion project, in Panama City, Panama June 25, 2016. Panama opened Continue Reading
China aims to cut steel capacity by 45 million tonnes in 2016: state planner
A labourer marks steel bars at a steel and iron factory in Huai’an, Jiangsu province, February 18, 2008. China plans to cut its steel production capacity this year by 45 Continue Reading
Post-Brexit dollar surge presents Fed with new conundrum
As Federal Reserve officials anxiously scan the aftershocks of the Brexit vote in the coming days, the reaction of the US dollar in currency markets will be front and centre Continue Reading
Goldman Is Gloomy on Prospect of Major CapEx Rebound Post-Brexit
Goldman Is Gloomy on Prospect of Major CapEx Rebound Post-Brexit Expects muted improvement after weak first half of 2016 Brexit aftershock, low potential growth a drag on investment Capital spending Continue Reading
TransCanada formally seeks NAFTA damages in Keystone XL rejection
TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama’s rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday. Continue Reading
UK’s Brexit vote leads to bearish impact on LNG as currencies weaken
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
The Energy Sector is One of the Largest Consumers of Water
The implications of the global water footprint of energy generation are phenomenal, writes Gary Bilotta of the University of Brighton. He warns that i f policy makers fail to take Continue Reading
Feeling Guilty about Global Warming and Peak Oil
Guys, today I wanted to write about kittens and string. No wait, I wanted to write about global warming and peak oil. Sorry, this is what Twitter has done to Continue Reading
Oil Markets Caught By Surprise
Oil Rig And as the world comes to terms with the news that the U.K. has voted to leave the E.U., the oil market is getting a wop bop a Continue Reading
Oil Prices Hammered by U.K. Vote to Leave EU
Crude-oil prices plummeted in Asian trade Friday as U.K. voters upended market expectations by choosing to exit the European Union, leaving a trail of unknowns of what could happen to Continue Reading
Brexit has limited impact on oil prices so far: Kemp
Crude oil prices have so far shown only a modest impact from Britain’s vote to leave the European Union on Thursday. Brent crude futures for the nearest contact to delivery Continue Reading
Hedge funds added to bullish oil bets just before plunge on Brexit
Hedge funds betting on summer gasoline demand raised their bullish bets on U.S. crude futures this week, just before the market’s crash on Friday on Britain’s shock decision to leave Continue Reading
Lebanon Gets Seismic As Israel Prepares To Develop Massive Gas Field
Seismic surveys now show that Lebanon’s portion of the prolific Levant Basin is showing promising oil and gas reserves, as the country lags far behind Israel in tapping into this Continue Reading
Oil Glut Is Fading Where You Would Least Expect: Saudi Arabia
Saudi Arabia, a country nearly synonymous with plentiful crude supplies, is offering one of the strongest signs yet that the glut that has plagued the oil market since 2014 is Continue Reading
World Bank: Uganda could get rich on oil
Uganda could dramatically overhaul its economy with the right management policies in place by the time oil starts flowing in 2018, the World Bank said. “If oil resources are well Continue Reading
Rig Count Down By Three After Three Week Rally
The number of active U.S. oil rigs dipped by 7 this week, after increasing by 9 last week, and 3 the week before. Natural gas rigs were up by 4 Continue Reading
Police Confirm Attack On Shell Facility In Nigeria
Nigeria, Explosion Police in the area of Imo in Nigeria have confirmed that there has been an attack on a Shell Petroleum Development Company (SPDC) facility there. The attack, which Continue Reading
Nigeria: New Militant Group Blows Up Oil Pipeline
A new militant group identified as Red Scorpion is believed to have blown up an oil installation owned by Elf Petroleum Nigeria in Awara, Ohaji/Egbema LGA of Imo State. The Continue Reading
Nigeria’s Oil Revenue Dropped By U.S.$35 Billion in 2015
Nigeria’s oil revenue dropped by $35.67 billion (about N7 trillion) in 2015 according to the report in the Organisation of Petroleum Exporting Countries (OPEC)’s annual statistics bulletin released yesterday. The Continue Reading
American Drivers Regain Appetite for Gas Guzzlers
The single most effective action that most Americans can take to help reduce the dangerous emissions that cause climate change ? Buy a more fuel-efficient car. But consumers are heading Continue Reading
API Lobbies For Arctic Drilling To Remain On the Table
The American Petroleum Institute (API) and other energy industry groups are urging the U.S. government not to remove Arctic offshore drilling from the table through 2022, despite strong opposition over Continue Reading
Southern California Time Bomb: The Ground Surrounding The San Andreas Fault Is ‘Rising And Sinking’
If you reside on the west coast, you are living on borrowed time. As you will see below, stress has been building up along the San Andreas fault for more Continue Reading
Bad News For Glut As US Offshore To Hit Record In 2017
Offshore Oil Rig Companies pumping oil from the Gulf of Mexico will ramp up production in coming months, propping up American output, despite efforts to curb production and raise barrel Continue Reading
‘Brexit’ Unlikely to Have Big Impact on U.K. Oil and Gas Market, Consultant Says
The U.K. is too large a market for European oil and gas sellers to be marginalized too much by its exit from the European Union, said Simon Flowers, chairman and Continue Reading
Ruble Drops Most Since May as Crude Oil Tumbles on Brexit Vote
The ruble weakened the most in almost two months as Britain’s vote to quit the European Union triggered a flight from riskier assets and pummeled the price of crude oil. Continue Reading
Oil Cargoes Lack Buyers in Europe as Refinery Demand Falters
Cargoes of crude oil are struggling to find buyers in Europe as demand from refineries falters due to unplanned halts. Recent strikes at French refineries and the continued abundance of Continue Reading
What Are The Long Term Consequences Of The Brexit
We begin with a look at the key data for the oil and gas industry this week, which shows the impact of the Brexit vote on the oil markets, with Continue Reading
What The Brexit Result Means For The UK Oil And Gas Industry
David Cameron, Brexit Britain has woken up this morning to the news that it will be leaving the European Union. The decision, won by a majority of just four percent, Continue Reading
Oil Prices Hammered by U.K. Vote to Leave EU
Crude-oil prices plummeted in Asian trade Friday as U.K. voters upended market expectations by choosing to exit the European Union, leaving a trail of unknowns of what could happen to Continue Reading
Are Natural Gas Prices About To Fall?
The market for natural gas in the United States continues to seesaw back and forth, with a recent bout of optimism threatened to be dashed as inventories climb at a Continue Reading
Natural Gas Rises as Power-Sector Demand Holds Strong
Natural gas prices rose Thursday, shrugging off bearish stockpile data, as traders focused on chances for strong demand to ease a historic glut. Natural-gas demand has kept rising in recent Continue Reading
Cheap LNG May Lure 50 More Nations to Gas From Oil, WoodMac Says
The number of liquefied natural gas importers may more than double as a glut damps prices and encourages nations to ditch crude, according to Wood Mackenzie Ltd. More than 50 Continue Reading
Oil Patch ‘Left for Dead’ Will Spark New IPOs for US Explorers
As the oil industry emerges from the biggest bust in three decades, shale drillers in a neglected corner of the biggest U.S. oil field are poised to take a new Continue Reading