Natural Gas Sinks on Large Stockpile Addition
Natural-gas prices are posting some of their largest daily losses of the past month on Thursday after data showed a storage addition last week far beyond expectations. The U.S. Energy Continue Reading
OPEC Pumps Record Crude In August
Oil Asia OPEC’s crude production increased by 40,000 bpd in August over July to a record-high in recent times, with Saudi Arabia likely setting a fresh output record, according to Continue Reading
Tired of cheap oil, Saudis eye price boost to drive Aramco IPO
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman attends a meeting with Chinese President Xi Jinping and ahead of the G20 summit, in Beijing, China August 31, 2016. Two years Continue Reading
Russia: Turkish gas pipeline progress continues
A Russian energy official met in Istanbul with Turkish leaders to review options for moving ahead with a gas pipeline project, Russia’s Gazprom said. Turkish Energy Minister Berat Albayrak hosted Continue Reading
Militias Corner Islamic State in Libyan City
When Islamic State captured this Mediterranean port last year, fighters tagged walls and buildings with the group’s name. Now, pro-government forces are on the verge of driving the extremists out Continue Reading
Saudi Arabia Just Boosted The Odds Of An OPEC Deal
Saudi Oil Minister Expectations for the success of the upcoming OPEC meeting in Algeria continue to seesaw, with comments from top officials from member countries continuing to alter oil market Continue Reading
Oil exports and revenue are back up
Federal Iraqi oil exports reached a four-month peak in August, boosting revenues to their highest mark in a year.The government exported 3.23 million barrels per day (bpd) in August, according Continue Reading
Saudi minister says OPEC moving to common position on oil output changes
Minister of Foreign Affairs of the Kingdom of Saudi Arabia, Adel al-Jubeir gives a speech at Peking University in Beijing, China, August 31, 2016. Saudi Arabia’s minister of foreign affairs Continue Reading
Nigeria: New N/Delta Terrorists Attack NNPC Facility
A previously unknown militant group, the Niger Delta Greenlander, has attacked the Ogor-Oteri major delivery line operated by the National Petroleum Development Company (NPDC). The attack, which occurred at about Continue Reading
Cuba Turns to Foreign Investors as Cheap Venezuelan Oil Fades
Backers sought to help build $3.5 billion in renewables Island wants 24 percent of power from renewables by 2030 Nearly two years after presidents Barack Obama and Raul Castro announced Continue Reading
Venezuela’s Capital Caracas Pulses With Opposition Protest
Supporters of Nicolas Maduro, Venezuela’s president, not pictured, hold up flags and a picture of Hugo Chavez, former president of Venezuela, during a protest in Caracas, on Sept. 1, 2016. Continue Reading
Venezuelans turn out in mass protest against Maduro
Hundreds of thousands of Venezuelan protesters flooded the streets of Caracas on Thursday to put pressure on the socialist government of President Nicolás Maduro to allow a recall referendum to Continue Reading
Chevron starts gas production offshore Indonesia
Indonesia is now producing natural gas from a deep-water site that represents a milestone for the country’s energy goals, a Chevron subsidiary said. Chevron Indonesia Co. said it started natural Continue Reading
The First U.S. LNG Shipment To China Arrives
The fist LNG shipment to China from the lower 48 states arrived last week, marking the official entry of the U.S. into the Asian LNG market. The shipment was chartered Continue Reading
Analysis: After brief resurgence, China’s oil demand falters yet again
China’s oil demand fell to 11-month lows in July on the back of erratic weather and feeble industrial growth, crushing hopes of a recovery in consumption which the market had Continue Reading
U.S. gasoline consumption and exports hit record highs: Kemp
U.S. motorists used a record volume of gasoline in June as good weather and cheap fuel encouraged a strong start to the summer driving season. The volume of gasoline supplied Continue Reading
Shell Looking Beyond Petroleum
There are many players looking to enter the oil markets thanks to the raft of deals available as the oil price crash appears to be over. For the oil majors, Continue Reading
Sturgeon announces new Scottish independence drive after ‘seismic’ Brexit vote
Scotland’s First Minister Nicola Sturgeon launched a new independence drive on Friday, urging supporters to join the country’s “biggest ever political listening exercise” to gauge public appetite for a new Continue Reading
BP’s Dudley sees oil price at $50 per barrel for rest of 2016
BP Chief Executive Robert Dudley said on Friday he expected global oil prices to remain at around $50 per barrel till the end of this year and at the same Continue Reading
Putin Pushes for Oil Freeze Deal With OPEC, Exemption for Iran
Accord to cap output is ‘right decision for world energy’ Producers understand need to compromise on Iran’s involvement Vladimir Putin said he’d like OPEC and Russia, producers of half of Continue Reading
Vladimir Putin Urges Oil-Producing Nations to Cap Production
Russian President Vladimir Putin called on oil-producing countries to cap production levels at a meeting later this month, saying “it was the right decision for world energy.” A similar initiative Continue Reading
U.S. And Russia Emerging As Winners 2 Years Into The Oil War
Each oil producers’ fortune differs depending on fundamentals. Demand is still extraordinarily high. Inventory remains very high, especially in the U.S. U.S. shale oil and to a lesser extent Russia Continue Reading
Oil Trades Near a Three-Week Low Amid Plentiful U.S. Supplies
Inventories rose 2.28 million barrels last week, EIA data show Saudi minister says nation won’t boost output and flood market Oil traded near the lowest close in almost three weeks Continue Reading
Oil prices dip on stronger dollar; rise in U.S. crude stocks data
Crude oil futures fell in early trade on Wednesday as the U.S. dollar held around three-week highs and industry stocks data indicated a build in U.S. crude inventories. International Brent Continue Reading
Natural Gas Prices Swing Higher as Storm Brews in Gulf
Natural gas prices ticked up Wednesday, beginning to reverse two days of losses as a storm brewing in the Gulf of Mexico continued to strengthen. Natural gas for October delivery Continue Reading
Kurds Carve Out a Home in Syria, Testing U.S. Ties With Turkey
Amid the chaos of Syria’s years-long civil war, the Kurds have carved out a semiautonomous region called Rojava that is home to about four million people, is as big as Continue Reading
Oil steadies as Saudi sees OPEC ‘common position’
Oil prices steadied on Thursday after Saudi Arabia said OPEC was moving towards a common position on oil production that some investors think could support prices. Brent crude futures for Continue Reading
OPEC oil output hits record as Gulf gains counter African losses
OPEC’s oil output is likely in August to reach its highest in recent history, a Reuters survey found on Wednesday, as extra barrels from Saudi Arabia and other Gulf members Continue Reading
Saudi minister says OPEC moving to common position on oil output changes
Saudi Arabia’s minister of foreign affairs said on Thursday that it would be reasonable for the kingdom to go along with other producers in changes to oil production. Adel al-Jubeir, Continue Reading
Standoff With Iran Inflames Anti-Shiite Feelings in Saudi Arabia
Saudi Arabia’s intensifying standoff with Iran has inflamed anti-Shiite sentiment in the kingdom, resulting in displays of hostility toward the minority group that play into the hands of Islamic State’s Continue Reading
Saudi Arabia Says It Won’t Flood Oil Market Before OPEC Meet
Crude markets are ‘saturated’ with stored crude: Al-Falih China, India show strong demand; Saudi refineries boost use Saudi Arabia, the world’s biggest oil exporter, won’t boost output to capacity and Continue Reading
Shell announces new natural gas discoveries in Egypt’s Western Desert
Logos of Shell is pictured at a gas station in the western Canakkale province, Turkey April 25, 2016. Royal Dutch Shell announced on Wednesday new natural gas discoveries in a Continue Reading
Shell’s Forcados Oil Pipeline Seen Restarting in September
Forcados terminal can typically export 200,000 barrels a day Pipeline in Niger Delta was blown up by militants 6 months ago Royal Dutch Shell Plc’s Forcados pipeline in Nigeria will Continue Reading
Brent Below $50 Keeps West Africa Projects Underwater: Chart
Sustained Brent crude prices below $50 a barrel will damp the prospects for new oil projects in West Africa. Angola, the continent’s biggest producer, has the lowest break-even price of Continue Reading
Argentina’s Shale Industry Makes Progress, But No Boom Yet
Argentina Rig Argentina is advancing in its mission to become the largest shale oil and gas producer outside of North America. But well economics still challenge the industry, despite heavy Continue Reading
Venezuela cracks down ahead of protest
A Roman Catholic priest has trekked hundreds of miles from his parish. Tribesmen marched barefoot from the southern Amazon jungle carrying spears. They will be joined by disabled activists from Continue Reading
China’s Shanghai Electric to Buy Majority Stake in Pakistan Utility
China’s state-owned Shanghai Electric Power Co. 600021 3.08 % plans to acquire a controlling stake in Pakistani power utility K-Electric Ltd., in a deal that could be one of the Continue Reading
U.S. oil demand up in June for 5th straight month: EIA
U.S. total oil demand rose in June on a year-over-year basis for the fifth straight month, as record gasoline demand offset stale distillate sales, the U.S. Energy Information Administration said Continue Reading
Canada’s Economy Shows Signs of Life Beneath Oil-Fire Damage
Output grows 0.6% in June to cap grim second-quarter result Data suggests GDP ‘to get a nice lift in the third quarter’ Canada’s economy grew at the fastest pace in Continue Reading
U.S. Crude Imports Soar to Highest Since September 2012
Sheela Tobben The U.S. last week imported 8.92 million barrels a day of crude, the largest amount in almost four years, according to preliminary data from the Energy Information Administration. Continue Reading
Oil Wars: Can Russia Hold Off Middle Eastern Oil In Eastern Europe
Russia still has supremacy over Central and Eastern Europe, especially over its crude oil market. However, Middle-East countries like Saudi Arabia, Iraq and Iran, have recently entered this traditional Russian Continue Reading