The fortunes of what still remains the mainstay of the Nigerian economy – oil and gas – are plummeting, indicating there is no silver lining in the clouds for now. Continue Reading
U.S. auto sales may be slowing, but they still set a record in the first six months of this year. Sales through June were up 1.5 percent to 8.65 million, Continue Reading
Even with renewable energy consumption at a historic high, fossil fuels are by far the dominant source for U.S. consumption, a federal review found. Growth in wind and solar power Continue Reading
Trucks dump their loads of coal at Murray Energy Corp.’s New Era Mine outside of… Murray Energy Corp., the largest privately held coal miner in the U.S., has warned it Continue Reading
The number of rigs drilling for oil in the U.S. rose by 11 over the past week to 341, according to oil-field services company Baker Hughes Inc., BHI 1.26 % Continue Reading
Oil Rig The number of active U.S. oil rigs rose by 11 to 341 this week according to oilfield services firm Baker Hughes, marking the fourth week of rises in Continue Reading
US oil rigs rose by 11, to 341 on Friday, reversing the prior week’s loss and resuming what has been an uneven climb in the last month, according to the Continue Reading
Fifteen storms could form by November; average is 12 La Nina, higher pressure contribute to storm development Colorado State University edged up its seasonal Atlantic hurricane forecast to 15, three Continue Reading
Shale drillers brought back the most oil rigs of any week this year as confidence in a stabilized market is prompting talk of expansion throughout 2016. Rigs targeting crude in Continue Reading
U.S. gasoline consumption was significantly lower in April than reported at the time, new data published by the Energy Information Administration on Thursday show. Gasoline supplied to the domestic market Continue Reading
The shutdown of the leaking Aliso Canyon underground gas storage facility has caused a loss of about 70bcf of stored gas that Southern California utilities have historically counted on to Continue Reading
Meetings between Russia and the secretary general of OPEC will resume after Aug. 1 after Mohammed Barkindo, the new head of the global oil cartel, officially takes his post, a Continue Reading
The European Union’s crisis holds political and economic leaders transfixed, but for the oil market it merely underlines the region’s established role as only a secondary engine to global energy Continue Reading
Climate scientists and others have in the past few years issued a steady stream of analyses showing that without immediate remedial actions, a disastrous future is headed our way. But Continue Reading
Oil traded near $48 a barrel in New York after posting its biggest quarterly gain since 2009. Close all those tabs. Open this email. Get Bloomberg’s daily newsletter. Politics The Continue Reading
The global oil market should see supply and demand in balance by 2017 though it will remain structurally well-supplied for the next couple of years, U.S. Energy Secretary Ernest Moniz Continue Reading
For the Saudi energy minister wondering how long it will take the world to use up excess oil stocks and rebalance the market, one picture could help find an answer. Continue Reading
Oil prices rose early on Friday, with Brent jumping back above $50 per barrel, as investors positioned themselves for more price increases this year in expectation of a tighter market. Continue Reading
Oil Rig Crude oil prices have stabilised near the $50 per barrel mark, leaving traders confused as to whether the next 20 percent move from the current levels is going Continue Reading
Oil prices rebounded in the second quarter after a historic two-year rout, boosted by a weaker dollar and a number of supply outages from Canada to Nigeria. Now, investors face Continue Reading
Rebalancing the oil market could take slightly longer as a result of the upsurge in uncertainty following Britain’s vote to leave the EU but most traders seem to think it Continue Reading
The NYMEX August natural gas prompt-month contract jumped 6.1 cents to settle at $2.924/MMBtu, its highest close since August 12, 2015, on bullish weather reports and a below-average injection reported Continue Reading
OPEC’s oil output has risen in June to its highest in recent history, a Reuters survey found on Thursday, as Nigeria’s oil industry partially recovers from militant attacks and Iran Continue Reading
A supertanker with Iranian crude is heading toward Poland’s Baltic Sea port of Gdansk, trade sources said and ship-tracking data showed, as Iran continues to claw back market share after Continue Reading
Reuters Iran’s oil exports in July are set to fall from June levels as the country battles Saudi Arabia and Iraq for market share but are about 70 percent higher Continue Reading
Has Saudi Arabia already switched tack and started to surreptitiously balance supply and demand in the crude oil market? One of the persistent themes of crude oil markets since the Continue Reading
Arab Light crude premium to Asia declines by 40 cents a barrel Prices in Mediterranean mostly cut, NW Europe mostly increased Saudi Arabia, the world’s largest crude exporter, cut all Continue Reading
The initial public offering of Saudi Aramco is likely to push the global market for crude oil toward the supply side and erode OPEC’s influence, analysis finds. An economic agenda, Continue Reading
Attacks on oil and gas facilities, along with political instability, are damaging Libya’s oil and gas industry. Ongoing militant attacks on hydrocarbon installations in Libya have helped stem the production Continue Reading
Kazakhstan expansion would add a Libya of new supply Tengiz is only major new project on Chevron’s 2016 agenda Chevron Corp. may shortly give a green light to the most Continue Reading
Angola economy, currency has suffered from drop in oil prices IMF completed a mission to Angola earlier this month Angola said it no longer wants to continue talks with the Continue Reading
Nigeria Pipeline Recent disruptions in Nigeria’s oil production has been a major factor behind the latest rally in crude oil prices, but changes in the domestic political climate and a Continue Reading
The Tullow Oil plc operated Tweneboa Enyenra Ntomme (TEN) field, located offshore Ghana, is expected to start production in the next few weeks. The Tullow Oil plc operated Tweneboa Enyenra Continue Reading
Crude deposit could be worth $70 billion at current prices Hess, CNOOC are partners in drilling 120 miles offshore Exxon Mobil Corp.’s oil discovery off the coast of Guyana may Continue Reading
Venezuela and Guyana dispute overlapping claims to their oil-prospective waters. (Credit: Shutterstock) Today ExxonMobil XOM +1.43% announced a big discovery at its new well offshore Guyana, called Liza-2. It builds Continue Reading
A well off the coast of Guyana holds a find that, with as much as 1.4 billion barrels of reserves, is considered transformative, Exxon Mobil said Thursday. Steve Greenlee, president Continue Reading
Note: Calculations assume export from the Sabine Pass liquefaction terminal at an average LNG Carrier speed of 19.5 knots and one-day transit time through the Panama and Suez Canals. The Continue Reading
Country expected to pass Japan as world’s 3rd largest oil user Auto industry to benefit as workers buy personal transporation India’s $13 billion pay increase for federal employees will boost Continue Reading
Activity in China’s manufacturing sector was static in June as growth in non-manufacturing activity accelerated thanks in part to growth from the construction sector. The official manufacturing purchasing managers’ index Continue Reading
BP has made a final investment decision for an $8-billion expansion of its Tangguh liquefied natural gas (LNG) project in Indonesia, the country’s energy regulator (SKKMigas) said on Friday, and Continue Reading
California has issued subpoenas to Valero Energy Corp and Chevron Corp as part of a probe into whether oil refiners in the state have manipulated gasoline prices since 2014, the Continue Reading
Exports were higher than initial EIA weekly estimates Miles driven in U.S. has fallen 3 of past 4 months: DOT Gasoline demand in the U.S. isn’t as strong as the Continue Reading
Company considering “next steps,” according to statement Court heard arguments from environmental groups, first nations Canada’s Federal Court of Appeal ruled to overturn Enbridge Inc.’s permits for the Northern Gateway Continue Reading
An annual review of the budget for oil-rich Alberta found total revenue came in lower than budgeted, though the provincial finance minister was upbeat. The decline in crude oil prices Continue Reading
A Canadian high court dealt another blow Thursday to Enbridge Inc.’s proposed Northern Gateway pipeline after it overturned a 2014 government order granting the company permission to build a corridor Continue Reading
The number of earthquakes in Oklahoma has fallen 25% in 2016 compared with a year earlier, a decline attributed in part to actions by state regulators to police the oil Continue Reading
In a new report , Navigant Research forecasts that plug-in electric vehicle (PEV) sales in the US and Canada in 2016 will near 200,000 unit sales, growing by around 62% Continue Reading
Since the beginning of the U.S. fracking revolution, oil producers have struggled with a vexing problem: after an initial burst, crude output from new shale wells falls much faster than Continue Reading
Construction started Thursday for part of a platform that will deploy at the giant Johan Sverdrup oil field, Norwegian energy company Statoil said. Project director Kjetel Digre was on hand Continue Reading
One recent headline from RT had me shaking my head: “Running on empty: Russia has less than three decades of oil remaining.” Yogi was right: “It’s deja vu all over Continue Reading
