North Dakota rig count lower for second week
As of Monday, the number of rigs actively exploring for or producing oil and natural gas in North Dakota was lower for a second straight week, state data show. State Continue Reading
Shale’s Efficiency Drive And The Coming Frac Sand Boom
Preoccupied with oil prices, API and EIA production reports and rig counts, most U.S. oil industry watchers miss one quiet segment of this industry that is actually thriving and will, Continue Reading
Renewable Energy Storage Could Be Worth $90 Billion Per Year
Renewable energy technology has been split into two camps since it became a reality around the turn of the century. On the one hand there are the passionate environmental believers Continue Reading
In appeal of US fracking ruling, arguments center on precedent
A recent judge’s decision that overturned Obama administration rules on hydraulic fracturing on federal and Indian lands ignores more than a century of regulatory precedent, an attorney appealing that decision Continue Reading
MIT analysis finds current EVs could replace ~90% of personal vehicles now on the road based on driver’s energy consumption
A study by a team at MIT has concluded that roughly 90% of the personal vehicles on the road in the US could be replaced by an electric vehicle available Continue Reading
Industry advocate downplays report that reignited fracking debate
A drilling industry advocacy group on Monday downplayed a report released last week by a scientific panel that called into question a major finding that the Environmental Protection Agency had Continue Reading
North Dakota Bakken/Three Forks Update
The North Dakota Industrial Commission (NDIC) reported June crude plus condensate (C+C) output on August 12, 2016. North Dakota(ND) Bakken/Three Forks (BTF) output fell by 20.46 kb/d in June to Continue Reading
Oil Prices at One-Month High on Potential OPEC Action
Crude hit a one-month high Monday on hopes that the prolonged oil-price rout may drive major producers to reconsider a collective production cap. Brent crude, the global oil benchmark, rose Continue Reading
Oil Bulls Take Heart as OPEC Rekindles Hopes of Output Freeze
Saudis say discussions may include action to stabilize prices Speculators boost bullish WTI crude bets most since January All it took was a few words from OPEC to encourage oil Continue Reading
Oil Extends Rise Above $44 After Biggest Weekly Gain Since April
Saudi Arabia signals it’s open to discuss stabilizing markets U.S. drillers added oil rigs for a seventh week: Baker Hughes Oil extended its advance above $44 a barrel after posting Continue Reading
OPEC Could Still Tip Next Year’s Oil Deficit Into Surplus: Chart
The re-balancing of oversupplied oil markets is on track as demand climbs and U.S. shale production falters, according to the International Energy Agency. The world will face a 560,000 barrel-a-day Continue Reading
Iraq Appoints Oil Minister as Costly War Limits Growth in Output
Jabbar al-Luaibi was former head of state-run South Oil Co. Al-Luaibi replaces Adel Abdul Mahdi who resigned in March Jabbar al-Luaibi, former head of Iraq’s biggest oil producer, was appointed Continue Reading
Kurdish forces in fresh push to close in on ISIS-held Mosul
Kurdish Peshmerga forces backed by U.S.-led coalition airstrikes launched a fresh attack on Islamic State militants in northern Iraq in the early hours of Sunday, as part of a plan Continue Reading
Heavy fighting in Aleppo as Syrian rebels renew their assault: monitor
Heavy fighting took place in different sectors of the Syrian city of Aleppo on Sunday as rebels assaulted two government strongholds in the city’s northwest and south, a monitor of Continue Reading
Undermining China: towns sink after mines close
Deep in the coal heartlands of northern Shanxi province, people in Helin village are fighting a losing battle as the ground beneath them crumbles: patching up cracks, rebuilding walls and Continue Reading
Australia’s gas paradox: supply crunch looms despite rich reserves
Australia is on track to become the world’s biggest liquefied natural gas (LNG) exporter by 2019 yet faces a looming shortage at home as states restrict new drilling onshore and Continue Reading
Nissan revolution: could new petrol engine make diesel obsolete?
Japanese automaker Nissan Motor Co has come up with a new type of gasoline engine it says may make some of today’s advanced diesel engines obsolete. The new engine uses Continue Reading
What Will You Do When The Lights Go Out? The Inevitable Failure Of The US Grid
LNG terminal Delta Airlines recently experienced what it called a power outage in its home base of Atlanta, Georgia, causing all the company’s computers to go offline—all of them. This Continue Reading
Performance versus prescription in new US Arctic rules: Fuel for Thought
In its new rules for oil and gas drilling in the Arctic, the US has taken the biggest step yet toward a performance-based system that sets clear standards, but allows Continue Reading
Three dead, thousands rescued from deadly Louisiana flood waters
Emergency crews have rescued more than 7,000 people stranded in Louisiana by historic flooding that has killed at least three people and submerged whole communities, Governor John Bel Edwards said Continue Reading
Russia says oil market talks with Saudi developing: newspaper
Russia, the world’s top oil producer, is consulting with Saudi Arabia and other producers to achieve oil market stability, Energy Minister Alexander Novak said, adding that the door is still Continue Reading
Oil Prices Rally Into The Weekend On Flurry Of Bullish News
Oil prices staged a strong rally on Thursday, moving up 4% by the end of the day thanks to positive forecasts from the IEA and comments from the Saudis. (Click Continue Reading
What Really Caused The Oil Price Rebound?
Oil Rig • WTI moved higher on the week by about $1.50 through Thursday as aggressive short covering tied to a bullish IEA report and an informal gathering of OPEC Continue Reading
Saudi-Iran Oil Rivalry Heats Up As OPEC Seeks To Stabilize Price
Saudi Arabia and Iran are giving no ground in their market share war, just days after OPEC announced an informal meeting to discuss ways to stabilize falling prices. Oil’s return Continue Reading
Islamic State oil commander dead
A commander in charge of oil for the Islamic State was killed in operations led by multilateral forces near the Syrian border, the Kurdish government said. The Security Council for Continue Reading
Nigeria: New Militant Group Vows to Blow Up More Pipelines
The Niger Delta Greenland Justice Mandate (NDGM) has vowed to blow up more oil installations, if government does not meet its demand for inclusion in negotiations with other militant groups. Continue Reading
Mexico Said to Begin Quietly Hedging 2017 Oil Price in June
World’s largest sovereign oil hedge started earlier than usual Mexico spends about $1 billion a year locking in prices Mexico started quietly buying contracts to lock in 2017 oil prices Continue Reading
Venezuela Raises Wages 50% as Oil Tour Seeks to Lift Prices
Maduro raises minimum wage, salaries for public employees Oil, foreign ministers leave on tour of oil producers Saturday President Nicolas Maduro raised Venezuela’s minimum wage 50 percent and announced that Continue Reading
China to use tougher environmental standards to tackle capacity glut
China will use the stricter enforcement of environmental, safety and energy efficiency standards as well as tougher credit controls to help fight against overcapacity in key industrial sectors, the government Continue Reading
North Dakota oil output seen falling below 1 million barrel/day mark
Multiple oil well sites are seen on the Fort Berthold Indian Reservation in North Dakota, in a November 1, 2014 file photo. North Dakota’s daily oil production will soon drop Continue Reading
U.S. oil drillers add most rigs since December in longest streak in two years
U.S. drillers this week added oil rigs for a seventh consecutive week, the longest recovery streak in the rig count in over two years, even as analysts revise down rig Continue Reading
Oil Drillers Bring Back Rigs in Longest Streak Since 2014
Rigs targeting crude in Permian up by 12 to 189: Baker Hughes U.S. explorers add oil rigs for seventh week in a row U.S. oil producers added rigs for the Continue Reading
U.S. oil more resilient than thought
Some of the oil reservoirs in the United States may be more resistant to the pressure from weak market conditions than some had expected, a federal report finds. File photo Continue Reading
North Dakota top oil regulator sees oil output below 1 million b/d by year-end
North Dakota’s oil production fell about 20,400 b/d month on month in June to 1.026 million b/d, and output is expected to fall below 1 million b/d “pretty soon,” likely Continue Reading
Exclusive: Oil reshuffle in Poland – Urals out, Iran in
A gas flare on an oil production platform is seen alongside an Iranian flag in the Gulf July 25, 2005. Poland is replacing Russian oil with Iranian oil and unsold Continue Reading
Oil Rises After Saudi Call for Action on Prices
Oil prices ticked higher on Friday after Saudi Arabia said it would work with other oil producers to stabilize prices, a comment interpreted by some to mean the world’s biggest Continue Reading
Oil flatlines after talk of possible exporter moves to prop up price
Oil prices were largely unchanged on Friday, remaining near the previous day’s highs, on the prospect of talks by exporters about ways to prop up a market grappling with a Continue Reading
IEA says refining slowdown to herald tighter crude oil market
The International Energy Agency said Thursday it foresaw a “sustained tightening” in crude markets and a reduction in global product stocks, despite recent price weakness. In its monthly oil market Continue Reading
Is Saudi Arabia About To Cry Uncle In The Oil Price War?
he Kingdom is struggling with weak GDP growth, higher fees and taxes, and an economy that is unable to pay the dues to its workers, leaving thousands of workers from Continue Reading
Oil demand likely rising in sweltering Middle East: Kemp
Saudi Arabia raised its oil production to a record last month while much of the kingdom sweltered in record temperatures that have also hit neighboring countries across the Middle East. Continue Reading
Saudi Energy Minister Says Kingdom Willing to Help Rebalance Oil Market
Saudi Arabia’s Energy Minister Khalid al-Falih said OPEC members and other oil producers may discuss… Saudi Arabia would “take any action to help” the crude-oil market and will discuss acting Continue Reading
ISIS Fighters Are Still Lurking in Surt, Libyan Officials Warn
Libyan officials were cautious on Thursday about declaring complete victory over the Islamic State in the coastal city of Surt, saying unknown numbers of the militant organization’s extremists remained ensconced Continue Reading
Iraq’s Deal With Oil Majors Could Crush OPEC’s Output Freeze Plans
Iraq and oil majors BP ( NYSE:BP ), Shell ( NYSE:RDS.A ) and Lukoil have agreed to resume investments in oil fields the foreign groups are developing, which is expected Continue Reading
Kurdistan hamstrung by pipeline outages, oil field attacks
The cash-strapped KRG has lost millions due to export pipeline malfunctions and attacks on a key oil field. Twin oil pipelines run north to a processing facility at the Avana Continue Reading
Turkey wants to buy more gas from Iran, resolve price dispute: foreign minister
Turkish Foreign Minister Mevlut Cavusoglu smiles as he attends a news conference with the Adviser to Pakistan’s Prime Minister on National Security and Foreign Affairs, Sartaj Aziz (unseen) at the Continue Reading
Nigeria Oil Output Seen Stuck at Lows as New Militants Emerge
Rise in number of militant factions complicates peace: BMI Nigeria saw biggest decline of all OPEC members in July: IEA Nigeria’s crude oil production, depressed to near 30-year lows as Continue Reading
New Militant Group Hits Nigeria Pipeline
There appears to be yet a new player in the violence in the attacks on the oil infrastructure in the Niger Delta, and if you’re finding it hard to keep Continue Reading
Nigeria: New Militant Group Fulfils Threat, Blows Up Pipeline in Delta
Barely 24 hours after it threatened to bomb oil installations in the Niger Delta region if the Federal Government did not stop its one-sided talks with the Ijaw ethnic nationality, Continue Reading
Australia counting on offshore oil, gas for economy
The more than two dozen areas opened up to energy explorers off the western coast of Australia could help with global energy ambitions, a minister said. The government opened 28 Continue Reading
Venezuela’s Maduro Says He Discussed Oil Prices With Saudi King
Venezuelan President Nicolas Maduro said he spoke to Saudi Arabia’s king about boosting oil prices and is reaching out to the heads of state of fellow producers Russia, Iran and Continue Reading