Iraq would support an agreement to freeze output: PM Al-Abadi U.S. crude stockpiles rose by 942,000 barrels last week: API Oil is poised for the biggest monthly advance since April Continue Reading
When taking a quick look at some of the critical figures and data in the energy markets this week, we see that the U.S. oil rig count remains unchanged, while Continue Reading
Motor-fuel stockpiles forecast to fall by 1.25 million barrels Volatility to endure as rebalancing continues: oil executives Oil traded near $47 a barrel before data forecast to show that gasoline Continue Reading
Largest producers to distribute $40 billion next year Exxon expresses unwaivering commitment to maintaining payouts The world’s biggest oil producers may struggle to make more than $40 billion in annual Continue Reading
The oil industry only discovered about 2.7 billion barrels of new supply in 2015, a tiny fraction of the annual average for the past fifty years. The dismal result was Continue Reading
Al-Abadi backs oil-output cap at Algiers gathering next month Premier previously stressed Iraq’s need to boost production Iraq would support a proposal for OPEC and other major oil producers to Continue Reading
Iraqi Prime Minister Haider al-Abadi speaks on Iraqi Police Day at a police academy in Baghdad, in this file picture taken January 9, 2016. Iraq would support a decision by Continue Reading
Iran in September will send out invitations to energy companies to vet interest in the first contracts in the post-sanctions area, a director said Tuesday. Iranian Oil Minister Bijan Zangeneh Continue Reading
Two cells of fighters loyal to the self-proclaimed Islamic State (IS) are operating within territory nominally controlled by the Kurdistan Regional Government (KRG) – the latest sign that the militant Continue Reading
Saudi Arabian energy minister Khalid al-Falih said the top crude exporter does not target a specific figure for its oil production which is set based on its customer’s needs. “The Continue Reading
Government expects Tullow, Total, Cnooc to drill 500 wells Companies expected to start crude production in 2020 Uganda expects three oil companies to invest $8 billion in the East African Continue Reading
President Nicolás Maduro has intensified a crackdown on opponents ahead of Thursday’s major opposition rally to demand a referendum on his rule amid a deepening economic crisis. On Tuesday, police Continue Reading
Economy contracted as oil output declined from previous period IMF forecast Nigeria economy will shrink 1.8% in 2016 Nigeria’s economic slump deepened in the second quarter as a declining oil Continue Reading
Analyst opinion divided over level of China strategic reserves Purchases for SPR have lifted crude imports, helping prices China’s got the world puzzling over its oil hoard. From underground caverns Continue Reading
Retail gasoline prices in the United States are on the rise ahead of the last major travel holiday season of the year, motor club AAA reported. The national average retail Continue Reading
U.S. oil companies have been pushing for changes to U.S. corporate tax laws that require them to pay taxes on foreign earnings, and news that the European Union’s antitrust regulator Continue Reading
Coal consumption by educational institutions such as colleges and universities in the United States fell from 2 million short tons in 2008 to 700,000 short tons in 2015. Consumption declined Continue Reading
In research there is evolution, revolution and sometimes, what I call “retro revolution,” which happens when old methods have new applications. All three are in play in the world of Continue Reading
One would hardly expect an official from Obama’s administration, which has dedicated a lot of work to curbing the harmful effects of fracking on the environment and public health, to Continue Reading
US Gulf Coast gasoline differentials continued to fall in early trading Tuesday as the market cools off from “unsustainably strong” levels last week, traders said. Conventional gasoline on the Gulf Continue Reading
U.S. oil companies have been pushing for changes to U.S. corporate tax laws that require them to pay taxes on foreign earnings, and news that the European Union’s antitrust regulator Continue Reading
Industry experts discuss potential challenges to the expanded use of drones in upstream oil and gas operations. Regulations and technology are two areas that must be addressed to create further Continue Reading
Nord Stream 2 As Jack Handey aptly pointed out “Before you criticize someone, you should walk a mile in their shoes. That way when you criticize them, you are a Continue Reading
Russia’s decision to postpone the privatization of a mid-sized oil company has sent a message to investors: for all his power, President Vladimir Putin has failed to stop political infighting Continue Reading
Oil prices edged higher Tuesday amid lower trading volumes as the August price rally lost momentum, with crude hovering around $47-$50 a barrel. The October contract for global benchmark Brent Continue Reading
Motor-fuel stockpiles forecast to fall by 1.25 million barrels Volatility to endure as rebalancing continues: oil executives Oil traded near $47 a barrel before data forecast to show that gasoline Continue Reading
Oil futures edged up on Tuesday as the U.S. dollar erased earlier gains, but doubts that producers would be able to agree to an output freeze continued to drag on Continue Reading
Oil prices were down Monday as worries over the U.S. raising interest rates as early as next month rippled through an already jittery market. The October contract of global benchmark Continue Reading
Rising Iranian output dims prospects of action: Dana Gas CEO Stability should be achieved soon for oil market: Al Mazrouei Oil declined amid doubts producers will agree on a deal Continue Reading
Oil prices fell early on Monday as output from Iraq rose and as Iran said it would only cooperate in upcoming producer talks to freeze output if fellow exporters recognized Continue Reading
The huge global oil oversupply that has weighed on prices for the past two years may not clear until the second half of 2017, Shell’s chief energy adviser Wim Thomas Continue Reading
New finds at lowest since 1947 and headed even lower: WoodMac Explorers replacing just 6% of resources they drill: Rystad Explorers in 2015 discovered only about a tenth as much Continue Reading
Oil Rig Oil prices enjoyed a bump last week, thanks in part to a weakened dollar and some geopolitical tensions in the Persian Gulf. But a large factor in the Continue Reading
Zev Spiro, chief market technician of Orips Research is forecasting oil to reach above $70 a barrel in the near future, as oil’s weekly charts show a bullish “inverse head Continue Reading
The world population will reach 9.9 billion in 2050, increasing by 33 per cent from an estimated 7.4 billion now, the latest report from the Population Reference Bureau (PRB) has Continue Reading
Iraqi, Kurds locked in dispute over oil revenue since 2014 Kurds have been bypassing central government with oil exports Iraq’s prime minister agreed with the semi-autonomous Kurdistan Regional Government to Continue Reading
Major international oil companies have submitted bids to participate in Cyprus’ third licensing round for three southern offshore blocks adjacent to Egypt’s northern waters. The three Cypriot licensing rounds have Continue Reading
Libyan forces said they captured a residential neighborhood in central Sirte from Islamic State on Monday, leaving just one district of the city still occupied by the militants. Spokesman Rida Continue Reading
South Azadegan on Iraq border will be first field offered Oil companies to be invited to submit technical documents Iran will invite international oil companies to submit bids in October Continue Reading
Royal Dutch Shell Plc agreed to sell its Brutus/Glider operation in the Gulf of Mexico for $425 million as Chief Executive Officer Ben Van Beurden seeks to resuscitate an explorer Continue Reading
A Nigerian militant group, which has claimed responsibility for a series of attacks on oil and gas facilities in the southern Niger Delta energy hub in the last few months, Continue Reading
The focal point of global piracy is shifting to the Gulf of Guinea with a spurt of attacks in West African countries such as Nigeria even as the menace has Continue Reading
Chinese Nuclear China General Nuclear Power Corp. has been indicted by the FBI on allegations that it has been trying to illegally acquire nuclear technology secrets from its U.S. consultants. Continue Reading
The part above ground doesn’t look like much, a few silver pipes running in a straight line, dwarfed by the far more massive, scarred reactor buildings nearby. More impressive is Continue Reading
China’s struggling oil sector has entered a challenging new phase: long-term decline of its domestic production. Oil production in China likely peaked last year at around 4.3 million barrels a Continue Reading
The state of Victoria plans to ban shale and coal seam gas fracking in what would be Australia’s first permanent ban on unconventional gas drilling, citing the concerns of farmers Continue Reading
Two measures to allow Colorado communities to ban hydraulic fracturing failed to garner enough voter support to make the fall ballot, the most high-profile defeat to date for groups aiming Continue Reading
On a blustery February night, the Texas electricity market hit a milestone. Nearly half the power flowing onto the grid came from wind turbines, a level unimaginable a decade ago Continue Reading
The collapse of oil prices has ground shale drilling to a halt, but the one region where drilling is still active, and even increasing, is in West Texas. The Permian Continue Reading
About 11% of US Gulf of Mexico oil production has been shut-in as operators evacuate platforms in the possible path of a tropical depression expected to pass through the Central-Eastern Continue Reading
