Libyan Port Resumes Crude Shipments
An oil tanker on Thursday began loading crude from Libya’s Zueitina port, the first cargo about to be shipped from the terminal in 10 months, a spokesman for the country’s Continue Reading
Oil Price Recovery Likely to Continue, Say Company Executives
Oil prices, which earlier Thursday broke through a key psychological level of $50 a barrel, are likely to continue recovering into next year as supplies tighten, but that recovery is Continue Reading
Saudi Arabia Increases Crude Exports
Top oil exporter Saudi Arabia increased its crude exports in June as it pumped at near-record-high levels while burning less petroleum for electricity than the same month last year, official Continue Reading
Iraq Resumes Oil Exports From Kurdish Fields
The Iraqi government has resumed pumping oil from fields operated by the North Oil Company through a Kurdish pipeline that runs through Turkey, according to remarks from a spokesperson from Continue Reading
Oil Product Demand In This Middle-East Nation Just Hit An All-Time High
Despite low crude prices, Qatar’s non-oil economy is still strong – unlike the more sluggish growth of neighboring Gulf countries – and its demand for refined oil products has more Continue Reading
Worker strike briefly disrupts Taq Taq field
Workers protested against proposed cuts to staff and salaries with a two-day walkout, temporarily reducing crude supply to a local refinery. A flare burns at the Taq Taq oil field. Continue Reading
Israeli offshore exploration gearing up again after hiatus
Exploration off Israel’s Mediterranean coast is set to resume in the coming months after a hiatus of several years with a new foreign player, Energean Oil and Gas, expected to Continue Reading
Saudi Arabia Announces Record High Oil Exports In June
Saudi Tanker Saudi Arabian crude exports rose in June to near-record-high levels, even as the country used less petroleum to generate electricity than the same month in 2015, according to Continue Reading
Baghdad resumes exports into KRG pipeline
Iraq’s federal North Oil Company (NOC) is again pumping crude into the Kurdistan region’s export system, after five months of shut-ins because of disputes over oil policy.The export re-start signals Continue Reading
Nigerian oil output may stay low through 2017
Nigerian crude oil production will likely remain suppressed by militant activity at least through next year, a report from the U.S. government said. The most active of the many militant Continue Reading
Oil now flowing from offshore Ghana
One of the bigger oil projects off the coast of West Africa has started production from a floating facility offshore Ghana, Tullow Oil announced Thursday. “I am delighted that the Continue Reading
Crude oil disruptions in Nigeria increase as a result of militant attacks
Crude oil production disruptions in Nigeria reached 750,000 barrels per day (b/d) in May 2016, the highest level since at least January 2009. The increased disruptions come as militants continue Continue Reading
Nigerian Oil Output Falls To 1,56 Mbpd – 4 Blends Remain Under Force Majeure
Niger Delta Forces Attacks by militant have caused a drop in the oil output from Nigeria. Oil Minister Emmanuel Ibe Kachikwu stated while in Lagos that production had fallen to Continue Reading
Nigerian peace talks engulfed in uncertainty
* Niger Delta Avengers appear split * Talks Friday with Ijaw community leaders Confusion reigns over Nigerian peace talks after mixed messages from the Nigerian militant group Niger Delta Avengers Continue Reading
OPEC Freeze Wouldn’t Be So Potent as Gulf Rivals Pump More
Saudi, Iranian output up 1 million barrels a day since January Freezing at current level delays re-balancing by a year: PVM Even if OPEC strikes a deal with Russia next Continue Reading
Volvo Cars and Uber join forces to develop next-gen autonomous driving cars; $300M joint project
Volvo Cars and ride-sharing company Uber have signed an agreement to establish a joint project that will develop new base vehicles that will be able to incorporate the latest developments Continue Reading
Pemex Woes Snowball as Cash Crunch Deepens Production Plunge
Morgan Stanley sees dramatic production drop in coming years Cash flow gap forecast to reach record $22 billion this year Petroleos Mexicanos’ deteriorating finances are poised to get much worse, Continue Reading
Can Bolivia Capitalize On Its Huge Lithium Reserves?
Bolivia, one of the poorest countries in Latin America, has began shipping lithium to China in what is considered the first step towards fulfilling its ambitions to becoming the world’s Continue Reading
U.S. Gasoline Use Reaches Record in July as Pump Price Dips
Consumption up 2.4% from year earlier at 9.67 million b/d: API Refineries produced a record amount of gasoline last month U.S. gasoline consumption climbed in July to a record as Continue Reading
Continental Resources sells acreage to balance books
The estimated $222 million received from the sale of shale acreage in North Dakota and Montana will help balance the books, Continental Resources said. One of the largest leaseholders in Continue Reading
Gulf of Mexico still essential for energy
The deep waters of the U.S. Gulf of Mexico continue to be one of the more prolific sources of oil and natural gas, the federal government said. “The Gulf of Continue Reading
Nuclear developers have big plans for pint-sized power plants in UK
A range of mini-nuclear power plants could help solve Britain’s looming power crunch, rather than the $24 billion Hinkley project snarled up in delays, companies developing the technology say. So-called Continue Reading
Is the Oil Industry Dying?
The ‘peak oi l’ controversy is staging a come-back as the industry confronts higher costs—and low prices Talking about “peak oil” can feel very last decade. In fact, the question Continue Reading
If peak oil arrives, investors will need to get smarter
Timing is everything when it comes to investing in commodities. ©AP It seems difficult to believe now but in 2014 oil was considered one of the safest bets around. The Continue Reading
Brent crude oil prices dip on prospect of record Saudi output
Oil prices dipped in early trading on Thursday as the prospect of record Saudi output weighed on markets and as traders cashed in on profits following an almost uninterrupted price Continue Reading
Oil Spikes After EIA Reports Significant Crude, Gasoline Draw
Oil field Oil prices began climbing shortly after the EIA published its weekly inventory report on Wednesday, which showed that crude oil inventories last week fell by 2.5 million barrels Continue Reading
Oil Prices Ticked Higher on Falling Stockpiles
Crude-oil prices ticker higher Wednesday after government data showed falling stockpiles at a time when many traders have feared a glut. The U.S. Energy Information Administration said Wednesday that crude Continue Reading
Oil prices fall on doubts that producers can agree output restraint
Oil prices fell away from 5-week highs early on Wednesday, as analysts doubted a successful outcome from producer talks to rein in ballooning oversupply. International Brent crude oil futures were Continue Reading
Will it matter? That’s the question to ask of any oil producers’ deal: Russell
Asking whether the world’s major crude oil-exporting countries can reach a deal to limit output is probably the wrong question. Asking whether it matters if they do is more relevant. Continue Reading
Oil on Brink of Bull Market Amid Saudi Stabilization Talk: Chart
Saudi Arabia’s helping oil back to the verge of a bull market. Brent is nearing a 20 percent increase from its previous low, the common definition of a bull run, Continue Reading
Oil Holds Longest Run of Gains in Over a Year as U.S. Glut Eases
U.S. crude stockpiles unexpectedly drop 2.5 million barrels OPEC’s former head says conditions right for oil-freeze deal Oil held its advance after the longest run of gains in more than Continue Reading
WTI’s Discount to Global Benchmark Widens Amid Crude Glut: Chart
West Texas Intermediate crude oil hasn’t been so cheap relative to Brent, the global benchmark, since December. That’s because the supply situation in the U.S. is more ample than what Continue Reading
Exclusive: Saudi signals it may hit new oil output record ahead of freeze talks – sources
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 Arabia is sending signals that Continue Reading
OPEC’s Former Head Says Conditions Right for Oil-Freeze Deal
Nations now willing to cap volumes as they’re pumping flat-out Big producers have taken all the market share they can: Khelil OPEC is on course to strike an output-freeze deal Continue Reading
BP reaches new heights offshore Azerbaijan
A BP subsidiary working in the Caspian Sea announced it reached a landmark for oil pulled from Azeri waters with its 3 billionth barrel. BP’s regional office for Azerbaijan, Georgia Continue Reading
Iran reviewing oil swaps with Caspian neighbors
Halted since 2012, Iran aims to resume oil swaps with its neighbors sharing borders with the Caspian Sea, a northern Iranian oil terminal agency said. The official Islamic Republic News Continue Reading
U.S. assessing if Russian use of Iran base violates U.N. resolution
A still image, taken from video footage and released by Russia’s Defence Ministry on August 16, 2016, shows a Russian Tupolev Tu-22M3 long-range bomber based in Iran dropping off bombs Continue Reading
America Is Complicit in the Carnage in Yemen
A hospital associated with Doctors Without Borders. A school. A potato chip factory. Under international law, those facilities in Yemen are not legitimate military targets. Yet all were bombed in Continue Reading
Syrian Government and Russia Are Accused of Using Napalm-Like Bombs
BEIRUT, Lebanon — Syrian government aircraft hit the rebel-held Damascus suburb of Daraya with incendiary bombs for the third straight day on Wednesday, according to local council members, who said Continue Reading
Saudis Ramping Up Oil Output To Gain Leverage In OPEC Talks
Saudi Tanker Saudi Arabia suggests it may be increasing its August crude output to a new all-time high as it could give it more leverage to influence the September informal Continue Reading
Will Iraq’s New Oil Minister Be Able To End The Iraqi Oil War
Iraqi oil After months of street protests and political paralysis, the Iraqi parliament approved five of six cabinet nominees by Prime Minister Haidar al-Abadi, including the country’s new oil minister—a Continue Reading
Nigeria Oil Militants Say Not Ready to Negotiate With Government
Nigeria’s Niger Delta Avengers militants, who have claimed repeated attacks on oil and gas pipelines sending the country’s crude output plunging, said Wednesday they were not ready to negotiate with Continue Reading
No such thing as idled, U.S. tells pipeline operators
Pipeline operators need to ensure safety is centered around either active or abandoned status as idled is not recognized by law, the U.S. government said. The U.S. Department of Transportation’s Continue Reading
U.S. crude stocks fall unexpectedly in week: EIA
U.S. crude stocks fell unexpectedly last week, while gasoline stocks decreased more than expected and distillate inventories rose, data from the Energy Information Administration showed on Wednesday. Crude inventories fell Continue Reading
The 100,000-Barrel Oil Output Increase That Didn’t Really Happen
Weekly data adjusted to end ‘disconnect’ with monthly report U.S. weekly oil production based on model except for Alaska U.S. crude oil production is holding up better than the government Continue Reading
Exxon Said to Slow Louisiana Refinery as People Escape Flood
Fourth-largest U.S. refinery affected as waters rise Louisiana is home to about 18% of U.S. refining capacity Exxon Mobil Corp. curbed operations at the fourth-largest U.S. refinery in the U.S. Continue Reading
West Texas Sour Crude Weakest Since 2014 on Canada Supply
West Texas Sour crude sold in Midland, Texas, is the cheapest since March 19, 2014, against the light-sweet oil traded in the same region. “More sour Canadian barrels will be Continue Reading
Louisiana’s Sinking Coast Is a $100 Billion Nightmare for Big Oil
The state can’t pay, so someone has to. And the water keeps rising. The Phillips 66 oil refinery on the bank of the Mississippi River in Plaquemines Parish, near the Continue Reading
U.S. reviews options for wave-energy test site
As much as $40 million may be available to help support the development of a wave-energy testing facility in U.S waters, the Energy Department said. “If successful, the advancements made Continue Reading
GE Wants to Bring More Life to Coal
General Electric says its technology upgrades are improving efficiency and reducing emissions at newer coal… The conglomerate—one the world’s biggest suppliers of power-plant equipment—for years played down coal’s future as Continue Reading