Britain offers new oil and gas licenses amid exploration drought
Britain has cut rental fees by up to 90 percent in its latest tender for oil and gas licenses in the North Sea launched on Wednesday in a bid to Continue Reading
Renewed oil weakness sparks demand fears
U.S. oil prices topped $50 a barrel in June, boosting optimism a two-year price rout might end. Six weeks later, the long hoped for recovery has yet to take hold. Continue Reading
Oil Down on Bearish Outlook
U.S. oil fell to a three-month low as a summer glut coupled with fading demand keep pulling crude prices back from their strongest rally in years. U.S. oil for September Continue Reading
Oil prices dip on ongoing oversupply, economic headwinds
Oil prices held near two-month lows on Monday amid worries that a global crude and refined product glut would weigh on markets for some time to come. International Brent crude Continue Reading
Forget The Glut – This Is Why Oil Prices Will Rise
The rate of oil production decline in the United States will accelerate in the 3rd quarter. It has already started. Per the EIA: In the last six weeks: > U.S. Continue Reading
Faulty Data? Why The Oil Glut Could Be Much Smaller Than Believed
The oil price rally came to a quick end in June, topping $50 per barrel but quickly falling back again. Optimism stemming from the four-month rally has vanished, and since Continue Reading
Libyan deal to end oil ports blockade still needs signing – Guard’s Jathran
Libyan Petroleum Facilities Guard (PFG) commander Ibrahim Jathran said on Monday he was ready to end a blockade at key oil terminals, but the U.N.-backed government still needs to sign Continue Reading
A Year After Iran Deal, Oil Flows But The Money’s Stuck
President Rouhani wants economic achievements before term ends Progress failing to meet Iranians’ expectations, analysts say A jump in oil exports, business deals signed with global companies and inflation tamed: Continue Reading
Russian company Gazprom Neft pumping 67,000 barrels of oil a day in eastern Iraq
Russian oil company Gazprom Neft said nearly half of the total production from an eastern Iraqi oil field came online this year. Photo courtesy of Gazprom Neft KUT, Iraq, July Continue Reading
India mulls merger of 13 state-run firms into oil giant
Should India proceed with a merger of 13 state-held oil companies, the Indian giant would be able to compete with the likes of Rosneft and BP on terms of size. Continue Reading