U.S. mulling new leases for Gulf of Mexico drillers
U.S. offshore energy regulators said they’re seeking input on the potential to offer more than 70 million acres up for drilling in the Gulf of Mexico. The U.S. Bureau of Continue Reading
Statoil rolls out North Sea development plans
Norwegian energy company Statoil said Friday it planned to spend more than $100 million to tap into new a oil and gas discovery in the North Sea. Statoil and its Continue Reading
Energy round-up: the age of the renewables
Efficiency + renewables = declining fossil fuels Electricity from fossil fuels is in steep decline (dark blue) thanks to efficiency gains reducing energy demand (shown by total sum) and the Continue Reading
Oil Prices Continue To Rise On Hollow Saudi Comments
Last week Saudi Arabia’s Oil Minister said that the large number of short positions on crude have caused prices to fall, even though the market is already rebalancing itself. This Continue Reading
Oil in Bull Market Heads for Biggest Weekly Gain Since April
WTI, Brent advance more than 20% from early-August low OPEC comments are ‘spark’ behind price gains: Morgan Stanley Oil headed for its strongest weekly increase in four months after entering Continue Reading
Oil Leaps Into a Bull Market
Oil climbed into bull market Thursday, completing the turnaround from a bear market dive in just three weeks as falling stockpiles and talk of an OPEC output cap keep fueling Continue Reading
Oil Companies Need Prices to Keep Rising Past $50 a Barrel
BP Chief Executive Bob Dudley, who coined the phrase “lower for longer” about oil prices,… A rally that pushed international crude-oil prices above $50 a barrel Thursday is a welcome Continue Reading
Nigeria oil minister says OPEC cuts unlikely, Algeria meeting could help price
Nigerian oil minister Emmanuel Ibe Kachikwu said on Thursday that while a cut in OPEC production is unlikely, there is hope a meeting of producers in Algeria next month could Continue Reading
Saudi Crude and Refined-Product Exports Hit Seasonal Record
June shipments of crude, products at 8.8 million barrels a day Crude exports at three-month high of 7.5 million barrels a day Saudi Arabia raised its combined crude oil and Continue Reading
NATO allies welcome Libyan progress
Members of the NATO alliance said they welcomed Libyan investment board actions as a step toward ensuring authority over the nation’s oil wealth. The governments of France, Germany, Italy, Spain, Continue Reading