U.S. gas glut is disappearing
The views expressed are his own.) U.S. natural gas prices have risen by a third since hitting a two-decade low in the first quarter, amid signs supply and demand are Continue Reading
Rig sales begin for bankrupt Hercules Offshore
A little more than a month into Chapter 11 bankruptcy, rig company Hercules Offshore said it sold one of its drilling components for around $3 million. The international drilling subsidiary Continue Reading
Energy Failures Push U.S. High-Yield Default Rate to 6-Year High
Overdue speculative bonds reach 5.1 percent in second quarter Fitch expects skipped payments to hit $90 billion by year-end U.S. high-yield bonds in default reached the highest levels in at Continue Reading
Nexen to Cut 350 Jobs in Canada After Oil-Sands Explosion
Unit of Cnooc says upgrader not repairable in short term Company to contine bitumen production at Long Lake site Cnooc Ltd.’s Nexen Energy unit will eliminate 350 jobs this year Continue Reading
India First Quarter Oil Demand Grows at Fastest Pace in a Decade
India consumed 48.5 million tons of oil products in April-June Diesel demand expanded 4.7 percent, gasoline at 10 percent India’s oil demand in the three months of the financial year Continue Reading
Colorado touts labor sector performance
Despite a revenue stream under pressure from low oil prices, a Colorado study finds an educated work force means earnings are higher than the national average. A study from the Continue Reading
Wall Street Debt Investors Circle Aubrey McClendon’s Permian Resources
Wall Street debt investors have encircled a beleaguered oil producer founded by the late Aubrey McClendon and are in early talks to take control of it in a deal that Continue Reading
Shale Drillers Adapting to Low Oil Prices, Report Finds
U.S. shale oil drillers have made big strides in adapting to lower crude prices by cutting costs and improving productivity, according to a report released Wednesday. American shale now makes Continue Reading
U.S. Production Is Falling, Why Isn’t Oil Recovering Faster?
Why aren’t oil prices rising faster? The recent recovery in oil prices has largely stalled out and investors looking at historical figures could be forgiven for not understanding why prices Continue Reading
EIA sees US becoming net natural gas exporter in H2 2017
With natural gas pipeline exports to Mexico on the rise and the ramp up of US LNG exports from Louisiana, the US Energy Information Administration on Tuesday projected the US Continue Reading
Russia still facing financial pressures
With Russian oil output lower in the second quarter, the country’s prime minister said there are still negative pressures building on the economy. Russian Prime Minister Dmitry Medvedev said there Continue Reading
Shell’s New Sensors Could Reduce Exploration Costs Dramatically
Offshore Oil Rig Searching for oil and gas is an activity with uncertain success—an activity with a bit less uncertainty were it not for 3D seismic surveying. And this uncertainty Continue Reading
Oil bounces back from two-month lows on weaker dollar
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
The Bears Are Back – Oil Slides On Negative Sentiment
After oil prices rallied more than 80 percent between February and June, WTI and Brent have fallen back more recently, dropping from above $50 to just $45 per barrel. Oil Continue Reading
Crude Falls on Oversupply Concern
Crude oil prices fell Monday as market participants fretted over a supply overhang that could worsen as global supply disruptions fade. The September contract for global benchmark Brent was down Continue Reading
Oil Extends Losses as Iran and Libya Aim to Boost Crude Exports
Iran plans to double crude exports to regain market share U.S. explorers added more than 30 oil rigs since start of June Oil extended losses from a two-month closing low Continue Reading
Oil near two-month low on economic woes; drillers adjust to lower prices
Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia. Brent crude futures were trading at Continue Reading
Oil Price Seen Stable Even as Iran Plans to Boost Crude Exports
Exports of 2 million barrels a day near pre-sanctions levels Iran targeting Europe as destination for quarter of exports Oil markets will remain stable this year even as Iran plans Continue Reading
Oil Market In Early Stages of Sustainable Recovery
The oil market is in the early stages of a “sustainable but protracted recovery,” according to oil and gas analysts at Jefferies International Limited. The oil market is in the Continue Reading
Return of Oil Contango Shows Price Recovery to Be Bumpy Ride
One-year price gap on Brent crude futures doubles in a month Rebalancing will be ‘messy’ as surplus lingers: Credit Suisse On the surface, the recovery of the global oil market Continue Reading
Oil tankers face choppy seas as wave of new ships weighs on rates
Oil tankers face choppy waters over the next 18 months as a torrent of new ships pushes down freight rates, just as buoyant oil demand slows, potentially ending a successful Continue Reading
Iraq halts Basra Light crude oil loading after pipeline leak
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
Reopening Libya Oil Ports Is Newly Unified NOC’s ‘Top’ Priority
National Oil Corp. chairman Libyans to share oil revenue ‘fairly’ under unified company Libya’s state crude producer is seeking to reopen oil ports and restore crude output as the fractured Continue Reading
Rising Energy-Import Bill Deepens Tunisia’s Economic Troubles
Political turmoil curbed oil and gas investment, says minister Nation is suffering high unemployment, declining energy output Social and political unrest in Tunisia is reducing energy production, adding to the Continue Reading
Iran expecting revenue influx from oil
The Iranian government expects to bring in at least $40 billion in investments per year to an opening oil industry, a deputy trade official said. According to Deputy Petroleum Minister Continue Reading
A Saudi Morals Enforcer Called for a More Liberal Islam. Then the Death Threats Began.
For most of his adult life, Ahmed Qassim al-Ghamdi worked among the bearded enforcers of Saudi Arabia. He was a dedicated employee of the Commission for the Promotion of Virtue Continue Reading
Iran Aims To Double Oil Exports, These Are The Hurdles
Iran Oil Although its post-sanctions production boom appears to be have waned, the Islamic Republic of Iran still hopes to increase its energy exports, exploit new production contracts and expand Continue Reading
IS in disarray in Qayarah after Iraqis push north of key air base
After the loss of Q-West to Iraqi forces on Saturday, signs emerge that the IS group is crumbling south of Mosul, just as more American troops are announced for the Continue Reading
Saudi’s Falih says oil price above $50 needed for investment: paper
The oil industry needs a price of more than $50 per barrel to sustain investments, Saudi energy minister Khalid al-Falih told a German newspaper while adding that downward pressure on Continue Reading
Iran advisory body approves new oil and gas contract: Tasnim
Iranian Vice President Eshaq Jahangiri speaks during a news conference after a meeting with Iraq’s top Shi’ite cleric Grand Ayatollah Ali al-Sistani in Najaf, south of Baghdad, February 18, 2015. Continue Reading
South Sudan Leaders in Crisis Talks After Violence Kills 270
South Sudan’s leaders are in emergency talks after days of violence between rival factions in the capital left at least 272 people dead and stoked fears of a return to Continue Reading
Gunfire Rocks South Sudan Amid Fears of Return to Civil War
Fourth day of violence after hundreds killed over weekend U.S. orders evacuation of non-essential personnel from Juba Gunfire rocked South Sudan’s capital for the fourth day as the deaths of Continue Reading
Asian Refiners Reduce Production Rates As Demand Stagnates
North Dakota Refining Slow economic growth in Asia has led local downstream firms to turn down refining production as energy products flood the regional market, according to a recent report Continue Reading
Venezuelans cross border in hunt for food
Omar Torres felt a rush of emotion as he crossed the Simón Bolívar bridge between Colombia and Venezuela with his wife and daughters. “We almost cried when we entered Colombia, Continue Reading
Venezuela to seize Kimberly-Clark factory as production ends
Venezuela’s government said Monday that it will seize a factory belonging to Kimberly-Clark Corp. after the U.S. personal care giant said it was no longer possible to manufacture in this Continue Reading
Thousands of Venezuelans stream over border to Colombia
Tens of thousands of Venezuelans streamed across bridges into Colombia over the weekend after Venezuela briefly lifted a year-old border closure to allow people to buy food and medicine. Colombian Continue Reading
China’s Massive Effort to Purify Seawater Is Drying Up
Stalled projects and underperforming plants have hampered China’s desalination plans. The site of a seawater desalination plant that could provide up to one-third of the water consumed by Beijing’s households Continue Reading
Daido Steel & Honda develop neodymium magnet free of heavy rare earth elements; Honda Freed hybrid first to adopt resulting new motor
Daido Steel Co., Ltd. and Honda Motor Co., Ltd. have developed a practical hot deformed neodymium magnet containing no heavy rare earth elements (REE) that still delivers the high heat Continue Reading
A New Way of Looking at Solar Cells
Advanced imaging technology reveals a bumpy surface of tiny, faceted grains on perovskite solar cells. A big step in helping perovskites reach their potential as the basis for far cheaper Continue Reading
Canada Fires May Have Prompted Rare U.S. Import of Danish Oil
Shipment of light, sweet crude arrived in Louisiana last week First transport from Denmark in 12 years, EIA data show The U.S. imported crude from Denmark last week for the Continue Reading
Energy could be included in Canada-Ukraine trade deal
Energy ties have the potential to strengthen under a newly-minted trade agreement between Canada and Ukraine, ministers said Monday. Canadian Prime Minister Justin Trudeau and his Ukrainian counterpart, Volodymyr Groysman, Continue Reading
North Dakota adding more rigs
The number of rigs actively exploring for or producing oil and natural gas in North Dakota is rising, state data show, despite a slump in oil prices. State data show Continue Reading
The Fracking Evolution: Better, Safer, Stronger
About two-thirds of U.S. natural gas production and about half of U.S. oil production currently comes from hydraulically fractured wells. Fracking is an essential process in the U.S. oil and Continue Reading
Shell-Led Group Delays Decision on Canada Gas Export Plan
LNG Canada cites industry challenges, capital constraints Project says it can’t confirm when it plans final decision Royal Dutch Shell Plc and its partners delayed for the second time this Continue Reading
Kremlin: Some oil privatization by year’s end
Privatization of Russian oil production and maritime shipping companies could be completed before the end of the year, a deputy minister said Monday. The Kremlin has been reviewing privatization options Continue Reading
Fossil Fuel Industry Risks Losing $33 Trillion to Climate Change
The fossil fuel industry risks losing $33 trillion in revenue over the next 25 years as global warming may drive companies to leave oil, natural gas and coal in the Continue Reading
Crude Falls as U.S. Drilling Rigs Increase to Most Since April
Explorers added more than 30 oil rigs since start of June U.S. payrolls rose 287,000 in June, most in eight months Oil dropped after U.S. producers increased the number of Continue Reading
Oil near two-month low on economic woes; drillers adjust to lower prices
Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia. Brent crude futures were trading at Continue Reading
Oil funds hold down risk, eye volatility after weak first half
Oil’s big rebound in the first half of the year was a squandered opportunity for most hedge funds with positions in crude, and a surge in volatility is likely to Continue Reading
Oil Price Seen Stable Even as Iran Plans to Boost Crude Exports
Exports of 2 million barrels a day near pre-sanctions levels Iran targeting Europe as destination for quarter of exports Oil markets will remain stable this year even as Iran plans Continue Reading