Niger Delta Avengers consider de-escalating conflict
A group calling itself the Niger Delta Avengers said it’s ready to consider some form of negotiation with the government in Abuja. The Niger Delta Avengers are blamed in part Continue Reading
Economy of energy-hungry India may face headwinds
The economy of energy-hungry India is on pace for steady growth that outpaces the global economy, though gains are moderating, Moody’s Investors Service said. “Moody’s Investors Service says that India’s Continue Reading
Venezuela’s decline prompts exodus
Even without money and a stable job since his arrival in Colombia in early July, Eduardo — not his real name — has regained most of the weight he had Continue Reading
China’s surging fuel exports less worrisome than costly crude for refiners – Russell
A surge in China’s diesel exports last month to record levels is probably the last thing refiners in the rest of Asia wanted to hear, but they should probably worry Continue Reading
Dark Clouds Loom for Oil as China Chases Blue Skies for G-20
Factories asked to cut activity before G-20 meet in Hangzhou Activity curbs and last month’s flooding seen reducing demand China is throwing the world’s leaders a party, and oil bulls Continue Reading
A New Measure for China’s Economy: The ‘Repression Index’
As the Chinese economy slows, the regime is ramping up an assault on dissidents and others it brands as troublemakers. Call it the repression index. One of the best indicators Continue Reading
North Dakota rig count lower for third straight week
For the third week in a row, state data show the number of rigs actively exploring for or producing oil and natural gas in North Dakota declined. A metric that Continue Reading
Three tremors in 24 hours near Oklahoma shale country
Three minor seismic events were recorded near the shale reserve areas in Oklahoma in the past 24 hours, data for the U.S. Geological Survey show. USGS data show the strongest Continue Reading
America’s First Offshore Wind Farm May Power Up a New Industry
The towering machines stand a few miles from shore, in a precise line across the seafloor, as rigid in the ocean breeze as sailors reporting for duty. The blades are Continue Reading
U.S. Gasoline Consumption On Target For A Record Year
In last month’s Short Term Energy Outlook (STEO), the Energy Information Administration (EIA) projected that it now expects record U.S. gasoline consumption this year: Motor gasoline consumption is forecast to Continue Reading
Is ExxonMobil Actually Only Worth A Fraction Of What It Says?
The investigation by a handful of attorneys general into ExxonMobil has much more to do with the oil major misleading investors than it does about covering up climate science. The Continue Reading
Gas Leak Has California Preparing for LNG Imports, Capping Use
State recommends monitoring refiners’ gas use, pump prices Agencies say state should also prepare for LNG imports California is looking at capping the amount of natural gas burned by power Continue Reading
The Permian Pitfall: A Race To The Bottom For Tight Oil
Permian drilling rig Remember the shale gale and Saudi America ? The scale of those outlandish delusions has now dwindled to plays in a few counties in West Texas and Continue Reading
Energy Efficiency is the 3rd Largest Resource in the US
Have you ever described efficiency as an energy resource and gotten a quizzical look in return? We have, even though utility system planners have been using energy efficiency for decades Continue Reading
The Reported Death of Peak Oil Has Been Greatly Exaggerated
OPEC released its Monthly Oil Market Report on August 10, 2016, I have pulled some items of interest from the report . World Oil Demand World oil demand growth in Continue Reading
VW Facing Uphill Battle Outside the U.S. in Emissions Claims
A Volkswagen outside a dealership in Seoul, South Korea, earlier this month. The auto maker… Governments, investors and car owners around the world are gaining ground in efforts to pressure Continue Reading
Oil Ends Longest Gain in 4 Years on Nigeria, Iraq Supply Outlook
Iraq to boost crude shipments by about 5% in the next few days Nigerian militants declare end to attacks for government talks Oil fell after the longest run of gains Continue Reading
Oil prices fall as analysts say August price rally has been overblown
Oil prices fell on Monday as analysts doubted upcoming producer talks would be able to rein in oversupply, saying that Brent would likely fall back below $50 a barrel as Continue Reading
Merrill Lynch Expects A 46% Jump In Oil Prices By June 2017
Oil has finally found a strong bull in Savita Subramanian, commodity strategist at BofA Merrill Lynch, who believes oil will rally to $54 a barrel by this year-end and continue Continue Reading
Why Investors Shouldn’t Believe The OPEC Rumors
We’ve entered the twilight zone in oil, where rumors and financial moves in outer markets are affecting oil and the stocks we’ve accumulated, making trading these markets not only difficult, Continue Reading
$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
Oil Posts Large Weekly Gains In News Driven Market
Oil prices staged a strong rally on Thursday, moving up 3% for the sixth straight day of gains. Brent hit an eight week high on news that the world’s biggest Continue Reading
Oil Markets Lackluster As Rig Count Rises For 8th Straight Week
The United States oil and natural gas rig count increased by 10 over the past week, according to Baker Hughes latest weekly report. The new numbers mark the first time Continue Reading
Can Oil Prices Continue To Rally Like This?
After 3-4 weeks of waiting for oil to drop convincingly below $40 for a buying opportunity we seem to have missed the boat on this rally. We see prompt Brent Continue Reading
Hedge funds slash bullish natgas bets, fearing less summer heat
Hedge funds and other speculators cut their bullish exposure to U.S. natural gas to June lows, data showed on Friday, after varying forecasts for summer led to worries about reduced Continue Reading
U.S. natural gas market rebalances on hot weather, low prices
U.S. stocks of natural gas are rising much more slowly than normal for this time of year as a long, hot summer spurs record air-conditioning demand and gas burn by Continue Reading
ISIS Receives Another Blow to Oil Revenue in Iraq, 12 Dead
The oil infrastructure of ISIS, on which the terrorist group depends for its survival, took another blow yesterday, this time from the U.S.-led coalition forces, which struck a convoy of Continue Reading
Iraq to raise flows on Turkey pipeline to 150,000 bpd next week
Iraq plans to double the volume of crude it pumps via a pipeline to Turkey to its normal rate of 150,000 barrels per day (bpd) next week, an official at Continue Reading
These Oil Majors Will Bid In Mexico’s $44B Offshore Tender
U.S. oil majors ExxonMobil, Chevron and Hess will bid jointly in the upcoming deepwater oil and gas tender planned by Mexico. The auction, which will take place on December 5, Continue Reading
Shale Drillers Party Like It’s 2014 as Oil Finds Bull Market
U.S. producers put 76 oil rigs back to work in eight weeks Permian Basin leads increases with 7 of 10 added this week Shale drillers are adding the most oil Continue Reading
Baker Hughes: US Oil Drillers Add Rigs For Eighth Week In Row
U.S. drillers this week added oil rigs for an eighth consecutive week, the longest recovery streak in the rig count in over two years, as crude prices rebounded toward the Continue Reading
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