People line up to buy toiletries in a supermarket in Caracas on Monday. (Federico Parra/AFP/Getty Images) With Venezuela spinning into chaos and collapse, the Obama administration has pondered how to Continue Reading
U.S. Secretary of State John Kerry disembarks from his airplane upon his arrival in Abu Dhabi, United Arab Emirates June 8, 2016. Venezuela and the United States will immediately start Continue Reading
Venezuela is in talks with China to obtain a grace period in its oil-for-loans deal that would improve the OPEC nation’s capacity to make bond payments amid an economic crisis, Continue Reading
Mexico’s national oil company plans a wave of new asset sales and production partnerships to navigate through the oil price downturn and stabilize soaring debt and falling production levels, its Continue Reading
Hungry Venezuelans are rioting and looting amid worsening food shortages, but the OPEC country’s remote oil fields have been sheltered from the social unrest so far. But Venezuela’s blistering economic Continue Reading
Back in the late 1980s, the air got so dirty in Mexico City that birds would emit a final chirp before they tumbled from the trees onto the sidewalk, their Continue Reading
Chinese Oil Rig China’s potential oil reserves are up 64 percent since 2007 due to increased exploration activities, according to a new report from the Chinese Land and Resource Ministry. Continue Reading
Fitch has become the last of the big three credit rating agencies to strip Alaska of its prized triple A rating on Tuesday, as the 49th US state continues to Continue Reading
Source: Republished with permission from the Tennessee Valley Authority The Tennessee Valley Authority’s (TVA) Watts Bar Unit 2 was connected to the power grid on June 3, becoming the first Continue Reading
What exactly is wrong with renewables, and why aren’t we all-green already? Subsidy abuse and insufficient economic viability in the face of cheap oil are two of the most common Continue Reading
The missing document might be titled “Trump’s Electricity Policy Will Make America Great Again.” Donald Trump, the GOP’s presumptive Presidential nominee, has a utility policy. Needless to say it may Continue Reading
Exelon Generation told the New York State Public Service Commission the company needs to know by September whether the regulator will approve a compensation plan for nuclear generators, otherwise Exelon Continue Reading
The Scottish government said Tuesday it’s reduced its greenhouse gas emissions to the point that it met its goals for 2020 years ahead of schedule. “Scotland is making outstanding progress Continue Reading
Electric Car In an effort to make good on a pledge to cut its carbon output anywhere from 80 percent to 95 percent by 2050, Germany is mandating that new Continue Reading
Royal Dutch Shell Plc Chief Executive Officer Ben Van Beurden spelled out his main goal last week — surpass Exxon Mobil Corp. to become the best-performing oil major. “I am Continue Reading
Igor Sechin, head of Russia’s largest oil producer Rosneft and the country’s most influential energy executive, said in an interview that he expects the fight for global energy market share Continue Reading
Crude fell a fourth day after closing at a one-week low as concern mounts over the strength of global growth as Britain votes later this month on whether to leave Continue Reading
Oil fell on Tuesday, as investor nervousness over next week’s vote on Britain’s possible European Union exit swept financial markets, eclipsing signs of a return to health for crude prices. Continue Reading
Crude oil prices declined heavily in early trading Monday after OPEC data show the dynamics of global supply and demand remain unchanged. For nearly two years, crude oil markets have Continue Reading
Oil prices fell on Friday, as a stronger dollar pulled crude off the 2016 highs hit this week, although strong refinery demand and global supply disruptions lent some support. International Continue Reading
Brent crude briefly fell below $50 a barrel for the first time in a week after U.S. drilling data showed another uptick, reinforcing views that the recent rally may restrain Continue Reading
OPEC has forecast that the world oil market will be more balanced in the second half of the year as outages in Nigeria and Canada help erode a supply glut Continue Reading
Oil Rig Seventy-two years after Marvin Camras patented the wire recorder, and movement in the oil market today is being dictated by hopes of stronger supply (production returning from outages) Continue Reading
The latest OPEC Monthly Oil Market Report is out with OPEC crude only production numbers for May, 2016. I have compared these numbers with those published by the EIA in Continue Reading
OPEC forecast on Monday that the world oil market will be more balanced in the second half of 2016 as outages in Nigeria and Canada help to speed up the Continue Reading
First-half glut is 800,000 b/d, 40% less than last estimate The global oil market will be almost balanced next year as demand continues to rise faster than production, while the Continue Reading
The IEA said unplanned shut-ins in Canada will help… Global oil markets are moving close to balance in the second half of this year on a significantly stronger than expected Continue Reading
Crude oil prices rallied to a 2016 high above $51/bbl in June, stoked by continuing outages in Nigeria and Canada as well as a steady decline in US oil production. May Continue Reading
The Central Bank of Nigeria is close to unveiling a new foreign-exchange policy and an announcement could come as soon as this week, according to a person who attended a Continue Reading
Militant attacks in the Niger Delta have pushed Nigerian crude oil production to its lowest point in more than a decade, OPEC said. Photo by sakhorn/Shutterstock VIENNA, June 13 (UPI) Continue Reading
A fresh wave of seasonal oil demand is expected to be unleashed when the global refining capacity increases to 101.8 million barrels per day (mb/d) in August, compared to 97.25 Continue Reading
Iranian Oil Minister Bijan Zanganeh leaves an OPEC meeting in Vienna on June 2. Iran replaced the head of its state-oil company on Sunday amid tension within the government over Continue Reading
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman chairs a meeting for the Council of Economic and Development Affairs, in Jeddah, Saudi Arabia June 5, 2016. Saudi Press Agency/Handout via Continue Reading
The mere mention of OPEC is almost instinctively accompanied by an automatic reference to the Kingdom of Saudi Arabia, as if the two are practically synonymous. As an oil producer, Continue Reading
Nigerian militants whose attacks on oil infrastructure have sent output plunging to its lowest level in 27 years said for the first time that they are considering peace talks, even Continue Reading
Venezuela registered its biggest monthly oil-production decline in a decade in May, according to data released Monday by the Organization of the Petroleum Exporting Countries, signaling further trouble for a Continue Reading
U.S. shale oil output is expected to fall in July for the seventh consecutive month, according to a U.S. government forecast on Monday, despite a recent rally in crude prices Continue Reading
Statoil ASA may seek to partner with Petroleos Mexicanos in Mexico’s deepwater fields as the producer looks to gain a foothold in the country’s recently opened energy market. “We see Continue Reading
Oil traders at the U.S. storage hub of Cushing, Oklahoma are betting stocks will fall by the most since early autumn, due to the twin effect of declining Canadian supplies Continue Reading
Penn West Petroleum Ltd. shares surged the most in more than two decades after Teine Energy Ltd. agreed to buy oil-producing properties for C$975 million ($762 million) in cash. Penn Continue Reading
With a gain of three, the number of rigs actively exploring for or producing oil and natural gas in North Dakota is up 12 percent from last week, data show. Continue Reading
The amount of coal produced in the United States is the lowest it’s been since the early 1980s as overall demand falters, the government said. “Coal production has declined because Continue Reading
New-well oil production per rig barrels/day New-well gas production per rig thousand cubic feet/day Region June 2016 July 2016 change June 2016 July 2016 change Bakken 832 850 18 1,114 Continue Reading
The volume of North Dakota’s natural gas production that is flared has fallen sharply in both absolute and percentage terms since 2014. In March 2016, 10% of North Dakota’s total Continue Reading
Wind Turbines For all of the discussion around the dangers of climate change, one issue is often forgotten – the cost of fixing the problem. Cutting carbon emissions enough to Continue Reading
The International Monetary Fund said on Monday that Canada is coping well with lower oil prices and weaker growth, but needs to pursue a fiscal and monetary policy mix that Continue Reading
The way we get electricity is about to change dramatically, as the era of ever-expanding demand for fossil fuels comes to an end—in less than a decade. That’s according to Continue Reading
Harbir Chhina helped develop the game-changing steam technology that allowed companies to tap the world’s third-largest reserves in Canada’s oil sands. It was a moonshot that paid off. Now the Continue Reading
The Supreme Court on Monday left intact a key Obama administration environmental regulation, refusing to take up an appeal from 20 states to block rules that limit the emissions of Continue Reading
Higher natural gas prices, largely resulting from lower inventories, could displace 1-2 Bcf/day of power burn demand as generators switch back to coal from gas because of improving fuel economics, Continue Reading
