Secretary of State John Kerry, left, and French Foreign Minister Jean-Marc Ayrault at the Bastille… PARIS—Secretary of State John Kerry said the Iran nuclear agreement “has lived up to its Continue Reading
Iran Oil After having regained 80 percent of its pre-sanction market share, beating all expectations, Iran now plans to double its exports if market conditions improve, according to Mohsen Qamsari, Continue Reading
Iraq has reached a benchmark in the country’s efforts to reduce the wasteful practice of gas flaring and fully exploit valuable hydrocarbon assets by exporting its first cargo of liquefied Continue Reading
With strengthened safety measures in place, Statoil and BP pledge their commitment to Algeria despite militant attacks on their facilities in the North African nation. Statoil ASA and BP plc Continue Reading
Government’s death toll may be ‘tip of iceberg,’ Ladsous says Global body may reassess, strengthen mandate for UN mission The United Nations peacekeeping chief said the situation in South Sudan Continue Reading
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have called off their one-week strike and therefore Continue Reading
Exxon Mobil Corp has denied that its facilities in the Niger Delta was attacked after the Niger Delta Avengers (NDA) claimed an alleged attack on the oil giant’s facilities on Continue Reading
India Oil If you’re looking for evidence that this is a great time to be a major oil buyer, look no further than India. Indian Prime Minister Narendra Modi maybe Continue Reading
China is expected to reach its highest point of energy consumption by 2035, while its reliance on fossil fuels is expected to drop, according to a report cited by the Continue Reading
China’s robust demand for oil has helped soak up some of the surplus crude sloshing around the world recently. But the country’s refiners are now flooding markets with products including Continue Reading
Energy companies are growing accustomed to low oil prices, though some projects still may be left on the shelf if markets stay put, Wood Mackenzie finds. Citing “capital constraints,” LNG Continue Reading
The Norwegian government confirmed Wednesday an oil and gas discovery was made in a North Sea area not previously known to contain hydrocarbons. The Norwegian Petroleum Directorate confirmed a discovery Continue Reading
Retail gasoline prices in the United States should hold more or less steady through the end of summer as demand remains steady, a federal review finds. A short-term market report Continue Reading
Two years ago, Reg MacDonald’s 20-day drilling classes were packed to capacity, with nearly 40 students eager to land lucrative jobs in the booming oil and gas industry. Now he Continue Reading
One week ago, we looked at an epic build up of gasoline inventories on the East Coast, also known as PADD1, which had slammed the crack spread to record lows Continue Reading
U.S. gasoline and distillate stocks surged unexpectedly last week, data showed on Wednesday, crimping margins for refiners at the height of summer driving season, a time when they generally enjoy Continue Reading
U.S. regulators on Wednesday proposed a rule on trains carrying crude that requires railroads to share information on the shipments with local governments and emergency responders, a month after a Continue Reading
Call it a tit for tat over subpoenas, one that escalates an ongoing spat over what the biggest U.S. oil company knew and when it knew it. House Science, Space Continue Reading
U.S. shale is the lowest cost option for new oil production and is likely to be more competitive than conventional offshore drilling, according to a new report from Wood Mackenzie. Continue Reading
Natural Gas Storage Embattled U.S. natural gas producers have a reason to perk up: the Energy Information Administration has forecast that natural gas production in the country over the second Continue Reading
The appointment of Theresa May as the United Kingdom’s new Prime Minister is likely to be a good development for the UK oil and gas industry, according to her voting Continue Reading
Crude oil prices fell Wednesday after surging nearly 5% overnight, as investors took profits and a bearish monthly International Energy Agency report pointed to record stockpiles. Brent crude, the global Continue Reading
Nationwide supplies rose 2.2 million barrels last week: API IEA sees record Middle East oil supply while U.S. output falls Oil fell after the biggest gain in three months as Continue Reading
Crude futures fell on Wednesday as investors locked in gains after oil prices surged nearly 5 percent in the previous session, partly on forecasts from the U.S. government and OPEC Continue Reading
Oil prices rose Tuesday after forecasting agencies said production outside the Organization of the Petroleum Exporting Countries would fall this year more than previously expected. Traders also expect weekly U.S. Continue Reading
Oil futures bounced back from two-month lows on Tuesday, helped by a weaker dollar, but a global stocks overhang and a drop in bullish bets by investors still weighed on Continue Reading
Global oil supplies rose by 0.6 mb/d in June to 96 mb/d after outages curbed OPEC and non-OPEC supplies in May. World production was 750 kb/d below last year as higher OPEC output Continue Reading
Middle East’s market share is the highest since the late 1970s Record inventories remain ‘threat to stability’ of prices Oil production from the Middle East has climbed to a record Continue Reading
The U.S. Energy Information Administration cut its forecast for U.S. oil demand growth in 2016, and increased its demand growth forecast for 2017, according to a monthly outlook issued on Continue Reading
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. Continue Reading
Oil industry hopes that markets are about return to balance, ending a global glut that pulled down prices by over 70 percent between 2014 and early 2016, might be abruptly Continue Reading
NEW YORK, July 12 (Reuters) – The U.S. Energy Information Administration cut its forecast for U.S. oil demand growth in 2016, and increased its demand growth forecast for 2017, according Continue Reading
API-EIA figures diverge by 2+ million barrels in 6 of 10 weeks Prices flip as traders seek edge on government supply number Oil traders don’t know who to follow these Continue Reading
Gas prices in the United States are at their lowest point in 12 years because of market conditions, though some areas are ripe for a spike, analyses find. Motor club Continue Reading
OPEC on Tuesday gave an upbeat outlook for the oil market in 2017, saying global demand for its crude would be higher than its current production and pointing to a Continue Reading
When politicians talk of climate “uncertainty,” they’re often casting doubt on things that are well understood: Warming is happening, and humans are responsible. When scientists talk about climate uncertainty, they’re Continue Reading
The new OPEC Monthly Oil Market Report is out with crude only production numbers for June 2016. OPEC added Gabon to its member countries this month. But I do not Continue Reading
70% of potential new output to 2025 viable below $60: Wood Mac Crude may need to reach $85 to finance other supply needed Most of the oil projects planned over Continue Reading
OPEC expects oil demand to remain strong through 2017, but downgraded its assessment because of the Brexit result. In its latest monthly Oil Market Report for July, OPEC sees oil Continue Reading
Libyan forces allied with the U.N.-backed government have been shelling and carrying out air strikes on the center of Sirte city in a siege of Islamic State militants there, an Continue Reading
Iraq has suspended Basra Light crude oil loading at two export terminals in the country’s south after a pipeline leak, four shipping and trade sources said on Monday. One of Continue Reading
The Marsa al-Hariga oil terminal in eastern Libya. No timing for lifting of force majeure on ports yet: NOC Four of biggest oil ports shut due to politics, fighting Libya’s Continue Reading
Kuwait is considering privatizing its oil-field services sector, a senior finance ministry official said Tuesday, in a potentially controversial move in the petroleum-dependent Persian Gulf state. Fears of industry privatization Continue Reading
Standard Bank, Old Mutual temporarily close Juba operations Kenya’s KCB moves staff to safety and reduces branch activity The biggest banks and insurers in Africa, including Old Mutual Plc and Continue Reading
Angola’s inflation rate rose to the highest in at least five-and-half years in June. Inflation accelerated to 31.8 percent last month from 29.2 percent in May, the Luanda-based National Statistics Continue Reading
Venezuela’s President Nicolás Maduro put the armed forces in charge of a new food supply system aimed at alleviating crippling shortages, ceding yet more power to a military apparatus that Continue Reading
Vaca Muerta Argentina has been shaping up as one of the best places on Earth for oil and gas exploration. With high and rising government-mandated prices helping to spur big Continue Reading
Annual output seen losing 200,000 b/d, double earlier forecast Oil industry has been hurt by power shortages, economic crisis Venezuelan crude production fell to a 13-year low last month as Continue Reading
Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing’s claims across large swathes of the South China Sea, fuelling geopolitical tensions in Continue Reading
In this May 7, 2012 photo released by China’s Xinhua News Agency, Haiyang Shiyou oil… Among the many questions to come out of Tuesday’s ruling on the South China Sea: Continue Reading
