Why the U.S. is a major roadblock for oil output freeze
The price of oil has been caught in one of its most volatile couple of weeks in months after OPEC and rival Russia hinted they may discuss a possible output Continue Reading
Libya resuming oil exports from some major ports
Libya is resuming oil exports from some of its main ports which forces loyal to eastern commander Khalifa Haftar seized in recent days and has lifted related “force majeuere” contractual Continue Reading
Exclusive: Tankers seized in Yemen port, risking deeper import crisis
Authorities in a port controlled by Yemen’s Houthi movement have seized two oil tankers from international traders in a payment dispute, according to the ships’ owners, an incident which could Continue Reading
Why Russia And China Are Intent On Salvaging Syria’s Economy
An economy in ruins More than five years of armed conflict has had a catastrophic impact on the Syrian economy. National GDP has plummeted to less than 50 percent of Continue Reading
Billions in IMF loans hinge on better 2017 budget, auditors
The International Monetary Fund is broadly happy with Iraq’s efforts at meeting requirements of a $5.3 billion loan, including its improved performance on IOC payments, but has asked for a Continue Reading
Russia’s Gazprom expects agreement on Turkish Stream pipeline in October
Gazprom Deputy CEO Alexander Medvedev speaks during an interview at the Reuters Russia Investment Summit in Moscow, Russia, September 15, 2016. Russia’s Gazprom expects Russia and Turkey to sign an Continue Reading
In a hungry Venezuela, buying too much food can get you arrested
The hunt for food started at 4 a.m., when Alexis Camascaro woke up to get in line outside the supermarket. By the time he arrived, there were already 100 people Continue Reading
Big Oil Flocks To Argentina As Permian Land Prices Skyrocket
The Permian Basin has become so hot that some oil companies are starting to stay away, instead looking at frontiers that are less picked over. BP is one such company. Continue Reading
Record Oil Demand Buffers One Corner of Shipping
Indian carriers are benefiting from surging oil imports Most of the South Asian nation’s fleet comprises tankers As the shipping industry grapples with a prolonged slump in demand, carriers in Continue Reading
India’s new motorcycle owners drive gasoline boom: Kemp
India’s gasoline consumption is growing rapidly as millions of additional households buy motor cars and especially motorcycles as a status symbol amid growing prosperity. Gasoline consumption averaged 550,000 barrels per Continue Reading
Which Countries Produce The Most Carbon Emissions?
China Leads the Planet in CO2 Emissions, but Persian Gulf States Lead on Per Capita Basis According to the World Bank’s current data, China was the leading emitter of carbon Continue Reading
US Energy Department may retake Shell-run St. James terminal
The US Department of Energy is considering retaking operational control of the St. James marine terminal in Louisiana once a 20-year lease with Shell expires at the end of 2017, Continue Reading
China’s Continuing Renewable Energy Revolution – Can It Save the World?
China has made strategic choices favouring renewables over fossil fuels that are still not widely understood or appreciated, writes John A. Mathews, Professor of Management, Macquarie University, Australia. In this Continue Reading
U.S. Refinery Margins Rally After Colonial Line Breakdown
The 6,000-barrel spill on one of the Colonial Pipelines on Friday is to blame for the surging refining margins. The October 2016 Gasoline crack spread, the differential between the price Continue Reading
Chesapeake Energy Loses Appeal In $438.7M Bond Dispute
A federal appeals court on Thursday rejected Chesapeake Energy Corp’s effort to avoid having to pay $438.7 million, including interest, to investors in a bond dispute. By a 3-0 vote, Continue Reading
Exxon’s Accounting Practices Are Investigated
‘We don’t do write-downs,’ Exxon Chief Executive Rex Tillerson told trade publication Energy Intelligence last year…. Mr. Schneiderman’s office, which has been probing Exxon’s past knowledge of the impact of Continue Reading
Annual Energy Outlook 2016
Projections in the Annual Energy Outlook 2016 (AEO2016) focus on the factors expected to shape U.S. energy markets through 2040. The projections provide a basis for examination and discussion of Continue Reading
The Hidden Costs Of Obamas Cheap Gas
President Obama graciously thanked himself for cheap gasoline at a rally in Philadelphia for Hillary Clinton on Tuesday. To hear him tell it, “Let’s face it; Republicans don’t like to Continue Reading
Why Apache’s Latest Oil Find Is Such A Game Changer
Oil Pump Apache’s recent oil find highlights what could be a new phase in fracking. To date, fracking in the U.S. had really been all about taking explored basins and Continue Reading
Why The Bankruptcy Wave In Oil & Gas Isn’t Over Yet
Oil Rigs The bankruptcy wave that’s been washing through the U.S. oil and gas industry is far from over, according to a fresh report by debt specialists at Debtwire. But Continue Reading
Climate change doubled the chances of Louisiana heavy rains, scientists warn
Torrential rains unleashed on south Louisiana in August were made almost twice as likely by human-caused climate change, according to a quick-fire analysis released just weeks after the flood waters Continue Reading
Clinton Versus Trump: The Biggest Difference In Energy Policy
Hillary Clinton emphasizes the importance of increasing the share of renewable energy at the expense of fossil fuels and she acknowledges that climate change is a real issue; whereas, Donald Continue Reading
Oil downturn nearly over, Norway says
Though crude oil prices aren’t expected to hit the $60 range until 2019, the Norwegian government said its economy has started to move out of a standstill. The Norwegian government’s Continue Reading
Rosneft to go private by year’s end
Russian oil producer Rosneft is on pace to become a private enterprise by the end of the year, a Russian economic official declared Thursday. The Kremlin has been reviewing privatization Continue Reading
Oil Holds Below $44 as Libya, Nigeria Seen Adding to Oversupply
Two OPEC nations may boost exports within weeks after conflict Nationwide U.S. crude stockpiles decline 559,000 barrels: EIA Oil held below $44 a barrel amid speculation the global crude glut Continue Reading
Oil rises on draw in U.S. crude stocks, but supply worries remain
Oil prices rebounded in early Asian trade on Thursday after falling around 3 percent in the previous session, supported by an unexpected fall in U.S. crude inventories. U.S. crude inventories Continue Reading
Oil Edges Up After Selloff
Crude oil prices edged up on Wednesday, buoyed by bargain hunting following a sharp selloff on Tuesday on worries that the global glut could last longer than expected . Brent Continue Reading
Fading balance prospects drag on oil prices
Already rattled by end-of-balance sentiments, crude oil prices continued drifting lower in early Wednesday trading on weak European economic data. Reports this week from the Organization of Petroleum Exporting Countries Continue Reading
The Worst Oil Crisis Ever? IEA Sees Unprecedented Decline In Investment
The oil bust has created the longest period of declining investment in the global energy industry in nearly half a century, according to a new report from the International Energy Continue Reading
Goldman’s Currie Sees Oil Staying Below $50 as Surplus Lingers
Worldwide market ‘really looks similar’ to early 1990s Capex cuts by oil companies won’t affect capacity till 2020 Don’t count on a big rally in crude oil, said Jeff Currie, Continue Reading
Global Oil Glut Set to Worsen as Nigeria, Libya Fields Restart
Exxon said to be on brink of resumption of top Nigeria grade Libya lifts export restriction on ports halted for months Amid the most enduring global oil glut in decades, Continue Reading
OPEC Production Sinks On Libya And Nigeria
The new OPEC Monthly Oil Market Report is out with crude only production numbers for August 2016. All charts are through August 2016. (Click to enlarge) OPEC crude only production Continue Reading
Iraq posts modest but sustained oil gains
OPEC’s number two oil producer is on track to increase exports by more than 7 percent this year, while it battles to buoy investor sentiment amid a damaging fiscal crisis.Senior Continue Reading
Saudi prince warns Iran against using force to pursue rivalry
A senior Saudi official, responding to Iranian criticism of Riyadh’s management of the haj pilgrimage, urged Iran to end what he called wrong attitudes toward Arabs and warned it against Continue Reading
Iraqi Kurds Seize Islamic State-Held Land, Bolstering Leverage for Future
Iraqi Kurds have pushed forward with renewed vigor to retake land from Islamic State in recent weeks, territory that could be used as bargaining chips in future negotiations they are Continue Reading
Geopolitical Oil Glut: What Happens When Libya Exports 600,000 bpd in 4 Weeks?
Only a day after the head of the Libyan National Army (LNA) took over Libya’s key oil ports to the dismay of Western powers trying to gain support for a Continue Reading
World’s Most Expensive Oil Project Could Finally Come Online
One of the world’s largest oil projects could soon come online, bringing a rush of new supply that could delay the oil market balance. The Kashagan oilfield is years behind Continue Reading
Senegal the next big thing in oil, company says
Senegal may be situated in the hot spot for oil and gas discoveries offshore, an Australian energy company said. Photo by project1photography/UPI/Shutterstock PERTH, Australia, Sept. 14 (UPI) — Emerging oil Continue Reading
Nigeria: Three Months After Force Majeure, ExxonMobil Resumes Export
Mobil Producing Nigeria Unlimited, a unit of ExxonMobil, will resume shipment of Qua Iboe crude, Nigeria’s largest grade of crude oil in October, three months after the company had declared Continue Reading
PDVSA Seeks to Buy Time for Oil Rally With $7 Billion Debt Swap
Company wants to exchange bonds due in 2016, 2017 for new debt PDVSA needs half of private bondholders to swap, Nomura says Venezuela’s state-owned oil company has been on default Continue Reading
Industry stands for Dakota Access pipeline
Industry leaders said moving forward with the Dakota Access pipeline is central to keeping the U.S. shale oil sector a strong component of the national economy. Independent Vermont Sen. Bernie Continue Reading
Mexico unveils new oil finds
New discoveries made off the eastern coast of Mexico have the potential to produce more than 20,000 barrels of oil per day, the state energy company said. Mexican state oil Continue Reading
EIA now provides estimates of drilled but uncompleted wells in major production regions
Starting this month, EIA’s Drilling Productivity Report (DPR) includes monthly estimates of the number of drilled but uncompleted wells (DUCs) in the seven DPR regions. Estimates will go through the Continue Reading
Natural Gas Falls Ahead of Inventory Report
Natural-gas prices fell Wednesday on concerns that hot weather in the next two weeks will be insufficient to shrink growing stockpiles. The natural-gas market is oversupplied following a winter of Continue Reading
U.S. crude stocks unexpectedly slip, lost barrels fail to show up: EIA
U.S. crude oil stocks fell last week, confounding expectations that inventories would rise to make up for the previous week’s drawdown, which was the biggest in 15 years, data from Continue Reading
Solar, wind developers: U.S. desert plan hurts renewable energy
The United States on Wednesday unveiled a long-awaited plan for desert renewable energy development that the solar and wind industries said unfairly favors land conservation and severely limits the ability Continue Reading
Canada: We must adapt to low growth
The faster the economy of oil-rich Canada adjusts to slower growth, the more secure the situation will be, a senior central bank official said Wednesday. “We have to adapt to Continue Reading
‘Deepwater Horizon’ Film Retraces Stigma of U.S. Oil Disaster
BP supervisors on rig depicted putting profits above safety Star-driven movie premiered at Toronto filmfest this week Just as memories of the 2010 Deepwater Horizon oil rig disaster were starting Continue Reading
U.S. Crude Oil Imports Rise by Most Since December 2014
What a difference a week makes. After avoiding Gulf of Mexico ports because of Hurricane Hermine, crude oil tankers flooded the region, pushing oil imports to the highest week-on-week increase Continue Reading
Scotland keeps eye on EU, touts oil and gas performance
While keeping its eyes on the European Union, the Scottish government touted the performance of North Sea energy in the era of lower oil prices. The government said the oil Continue Reading