Increase In U.S. Rig Count Will Not Cap Oil Prices
Oil Rig The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 Continue Reading
Iran to build oil terminal with China
A $550 million contract with a Chinese partner envisions the construction of a new oil loading terminal in the Persian Gulf, Iranian media reported. The semi-official Fars News Agency reports Continue Reading
Saudi deputy crown prince promotes his bold reform plans in US
Mohammed bin Salman, Saudi Arabia’s powerful deputy crown prince, has taken his plan to transform the oil-dependent kingdom to the US as he attempts to sell his bold vision and Continue Reading
Iran Oil Comeback That Startled Doubters Approaches Roadblock
Iran easily beat expectations with its speed in boosting oil exports after the lifting of sanctions. Without an injection of cash and the easing of remaining trade barriers, the recovery Continue Reading
Middle East worst hit by rise in sand and dust storms
Image caption UN scientists predict that Iraq could witness 300 dust events in a year within 10 years, The Middle East has been the worst hit by significant rise in Continue Reading
Nigeria Militants Claim Pipeline Attack Despite Appeal for Talks
Nigerian oil militants claimed to have blown up a pipeline belonging to the Nigerian National Petroleum Corporation in what would be their first attack since they expressed a willingness to Continue Reading
Niger Delta Avengers bombs another pipeline
The assault on oil installations in the Niger Delta continued Thursday with a group taking credit for blowing up a pipeline run by a national oil company. At 4:00am @NDAvengers Continue Reading
Nigeria changes course with painful devaluation
Nigeria has lost a year. By imposing capital controls and sticking mulishly to a fixed exchange rate out of sync with the shifting fortunes of the economy, President Muhammadu Buhari Continue Reading
Venezuela still hopes for OPEC, non-OPEC deal as Iran oil output rises
Venezuela’s Oil Minister Eulogio del Pino attends a meeting with President Nicolas Maduro at Miraflores Palace in Caracas, in this handout picture provided by Miraflores Palace on January 6, 2016. Continue Reading
Venezuela Says Oil at $50 Enough to Avoid PDVSA Default
Crude prices around $50 a barrel are enough for Venezuela’s state oil producer to avoid a default on its debt, company president and national oil minister Eulogio Del Pino said Continue Reading