The number of U.S. oil drilling rigs were unchanged this week after eight weeks of consecutive rises, according to a closely followed report on Friday, although traders and analysts expect Continue Reading
Cost estimates for the Alaska LNG Project have been shaved 20% or more, but the project is still not economic, its managers told state legislators in hearings that ended late Continue Reading
Saudi Arabia’s Khalid Al-Falih doesn’t advocate production cut Iran’s oil minister to attend producer talks in Algiers: Shana Oil traded near $47 a barrel as Saudi Arabia’s energy minister said Continue Reading
The increase in U.S. oil production that helped push crude oil prices lower may have hurt the industry, but that’s offset by consumer benefits, the API said. U.S. crude oil Continue Reading
A gas flame is seen in the desert near the Khurais oilfield, about 160 km (99 miles) from Riyadh, Saudi Arabia June 23, 2008. Saudi Arabian Energy Minister Khalid Al-Falih Continue Reading
Fading contango is clearest sign of recovery: Credit Suisse Market moving from massive surplus to balance: BofAML’s Blanch For all the feverish speculation of OPEC action that’s roiling oil markets, Continue Reading
Shipments through Kurdish territory resumed after 5-month halt Informal accord may only last a few months: Qamar Energy Iraq’s resumption last week of oil shipments through a Kurdish-controlled pipeline bumped Continue Reading
OPEC to meet other producers next month on supply, price Zanganeh says he’ll meet OPEC Secretary General Barkindo Iran’s Oil Minister Bijan Namdar Zanganeh will join an informal meeting of Continue Reading
A gas flare on an oil production platform is seen alongside an Iranian flag in the Gulf July 25, 2005. Iran will help other oil producers stabilize the world market Continue Reading
OPEC Secretary-General Mohammed Barkindo sees a growing understanding inside and outside the oil producers’ group that action is needed to manage crude production in order to support prices, he said Continue Reading
Aramco IPO opportunity for Chinese investment: Bernstein Prince Salman scheduled to attend Group of 20 Summit in China China and Japan, Saudi Arabia’s biggest oil buyers in Asia, are preparing Continue Reading
WASHINGTON — Hillary Clinton and Donald Trump do not agree on much, but Saudi Arabia may be an exception. She has deplored Saudi Arabia’s support for “radical schools and mosques Continue Reading
Two weeks ago, news broke that the International Monetary Fund had reached a “tentative” agreement with Egyptian officials regarding a $12 billion loan that the Washington-based pool would pay out Continue Reading
Venezuela has not been able to import all the crude and fuel it needs this year to cover shortfalls at oilfields and refineries as state-run PDVSA struggles to pay suppliers 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
Oil shipping China’s state-owned oil companies have been beaten down by low oil prices and stagnant demand at home. PetroChina and Cnooc reported dismal earnings this week, and offered little Continue Reading
Anyone who has ever tried to start a car in -40?C weather knows the challenges of living in the true white north. Oil becomes almost solid, and all the tried Continue Reading
Under a prepackaged reorganization plan, Key Energy Services has filed for Chapter 11 bankruptcy – the latest oilfield services company to succumb to the ravages of the oil price downturn. Continue Reading
More than $11 billion of transactions were announced in July Sellers and buyers now finding consensus on asset valuations Multibillion-dollar oil and gas deals are back on the table. More Continue Reading
California will extend its landmark climate change legislation to 2030, a move that climate specialists say solidifies the state’s role as a leader in the effort to curb heat-trapping emissions. Continue Reading
The electric car revolution is already underway, and if the long-term projections are even remotely close to accurate, the effects will ripple through every corner of the global economy. A 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
The British government reported total first quarter production of natural reserves increased at the same time the country relied less on foreign imports. The government reported total production of all Continue Reading
Oil traded near the lowest close in a week as U.S. crude stockpiles unexpectedly increased, keeping supplies at the highest in at least three decades with the peak summer demand Continue Reading
Crude prices edged lower on Thursday as brimming U.S. and Asian fuel inventories returned investors’ attention to a large global supply overhang, cutting short a price rally and restricting Brent Continue Reading
Prices may ‘buckle’ in 2017 under growing glut, Citigroup says Increasing imports into EU, LNG supplies weighing on prices Even after three years, there’s still no sign that the slump Continue Reading
The price point for crude oil that would likely trigger action from major oil producers is around $35 per barrel, a Swiss-based market research group said The price for Brent Continue Reading
Fire ice Do you remember the peak oil hysteria from the early 2000s? Oil didn’t just not end, the world started pumping even more thanks to the shale revolution. Now Continue Reading
The Bai Hassan south station is back online, but key infrastructure remains damaged and a well fire is still blazing after two IS attacks in July and early August. IS Continue Reading
The Iraqi government is asking international oil companies operating in the country to continue to produce oil, but to get used to lower oil prices. Iraq’s oil minister Jabbar al-Luaibi Continue Reading
Iran’s naval forces will warn or confront any foreign ship entering the country’s territorial waters, the Iranian defense minister said Thursday, remarks that came after an incident this week involving Continue Reading
Iranian Foreign Minister Mohammad Javad Zarif talks with Ecuadorean President Rafael Correa at Carondelet Palace in Quito, Ecuador August 24, 2016. Iran and Ecuador on Wednesday discussed ways that the Continue Reading
Air strikes by the Saudi-led coalition in Yemen are responsible for the largest part of the 3,799 civilians killed so far and it has committed other violations that may contravene Continue Reading
Russia gained ground in China in first seven months this year Saudis may seek more spot sales to compete: Petromatrix Saudi Arabia kept its spot as China’s biggest oil supplier Continue Reading
Tullow said to plan eight more exploration wells in Lokichar Nation holds 750 million barrels of recoverable resources Tullow Oil Plc will put Kenya on the map of oil producers Continue Reading
Venezuela is facing the worst economic and humanitarian crisis in its history. Venezuela has been hit by the 24 months collapse in oil prices. Its economy is expected to shrink Continue Reading
New Zealand government forms a special counsel to help accelerate the implementation of electrical vehicles on the roads. File Photo by Bill Greenblatt/UPI WELLINGTON, New Zealand, Aug. 24 (UPI) — Continue Reading
The tough times for China’s oil companies appear likely to continue after two major oil drillers reported weak earnings Wednesday and said they saw little room for optimism for the Continue Reading
Energy company said to work with Citigroup on asset sales Deals pick up as companies raise cash for drilling, debt Sanchez Energy Corp. is seeking buyers for some of its Continue Reading
Anchorage sees potential in startups as a way to diversify Mountains in Seward, Alaska, less than a three-hour drive from Anchorage. Alaska’s cities advertise lifestyle perks to draw new talent. Continue Reading
Despite tough industry conditions, bidding that emerged in the latest lease shows the U.S. Gulf of Mexico remains good energy acreage, the government said. Only three companies emerged with bids Continue Reading
An advocacy group called on the U.S. government to enact further restrictions on Atlantic Ocean energy work, citing seismic threats to marine animals. Oceana published new mapping data in coordination Continue Reading
Some of the world’s largest energy companies are saddled with their highest debt levels ever as they struggle with low crude prices, raising worries about their ability to pay dividends Continue Reading
Lithium brine We’ve gone electric, and there’s no going back at this point. Lithium is our new fuel, but like fossil fuels, the reserves we’re currently tapping into are finite—and Continue Reading
Eagle Ford rig Most companies have struggled to come to grips with the 2014 crude price crash by curbing investments and delaying projects. The top developers in the Eagle Ford Continue Reading
Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore, Continue Reading
Rosneft, Gazprom targeted in new levies through 2020 State giants could lose as much 10% of cash flows: Sberbank Russian stocks fell for a second day after the government renewed Continue Reading
Oil prices fell over 1 percent on Tuesday, with Goldman Sachs warning that August’s price rally had been overdone and that a proposed oil production freeze at current near-record levels Continue Reading
Oil prices fell early on Wednesday as an unexpected build in U.S. crude stocks weighed on markets, along with concerns that Chinese crude demand could falter as Beijing clamps down Continue Reading
Oil companies broadly advanced on Tuesday as crude rebounded, buoyed by speculation that Iran will attend a meeting of Opec producing countries next month. Members of the oil producing cartel are Continue Reading
