$50 Crude Won’t Fuel Big Oil’s Comeback
Oil Rig Bulls grinned on Thursday last week when Brent Crude rallied past the US$50 price mark for the first time in six weeks. The biggest oil companies may have Continue Reading
‘Well-Timed’ OPEC Talk Forces Oil Bears Into Record Reversal
Speculators cut wagers on falling WTI crude price by 26%: CFTC OPEC could freeze output as big members pump flat-out: Khelil OPEC has done it again. Talk of a potential Continue Reading
Iraq Will Boost Oil Exports After Agreement on Kirkuk Fields
Exports will increase 150,000 barrels a day in next few days New oil minister said last week he saw resolution with Kurds Iraq, OPEC’s second-biggest producer, will increase crude exports Continue Reading
Iran says Russian use of air base for Syria strikes over ‘for now’
Iran said on Monday that Russia has stopped using an Iranian air base for strikes in Syria, a week after Moscow announced that its fighter bombers had flown from a Continue Reading
Libyan forces say they capture mosque, prison from Islamic State in Sirte
Libyan forces renewed their push to oust Islamic State from its former North African stronghold of Sirte on Sunday, saying they had seized the city’s main mosque and a jail Continue Reading
Anger in the Delta keeps oil majors quiet – and Nigeria’s crude offline
An oil slick clots the bottom of mangroves in Bodo creek in Ogoniland, near Nigeria’s oil hub city of Port Harcourt December 4, 2012. Oil companies and even Nigerian officials Continue Reading
Petronas Posts 96% Quarterly Profit Decline on Lower Oil Prices
Company to review Canada LNG project after government decision Malaysian energy firm sticks to $30/bbl 2016 price assumption Petroliam Nasional Bhd., Malaysia’s state oil company, said profit dropped 96 percent Continue Reading
China Diesel Exports Rise to Record as Flooding Damps Demand
Diesel fuel shipments climb to 1.53 million tons in July Gasoline exports slip from record as production slows China’s diesel exports rebounded to a record in July as severe flooding Continue Reading
Over 2,000 gov’t regulators punished for environmental malpractice
More than 2,000 officials from Party and government departments have been punished for malpractice related to environmental policy implementation. Last month, inspectors were dispatched to eight provinces and autonomous regions Continue Reading
Brent crude oil prices dip on U.S. profit taking
Brent crude oil prices dipped in early Asian trading hours on Friday, but remained near two-month highs with Brent still holding above $50 per barrel in a bull-run that has Continue Reading