While Russian federal revenue from oil and natural gas production has declined significantly in response to low oil prices, oil and natural gas companies have actually increased investments or only Continue Reading
Actuary Gail Tverberg returns to provide an update on where we are in the global energy story. Her outlook is not rosy: she doesn’t not see a path for society Continue Reading
Oil prices were stable on Friday, weighed by a stronger dollar, but supported by signs that physical fuel markets were tightening after two years of ballooning oversupply. The dollar rose Continue Reading
Crude prices closed higher Friday, reversing earlier losses as a stronger U.S. dollar failed to subdue optimism over a tightening market. U.S. crude for December settled up 22 cents, or Continue Reading
Crude oil prices moved in mixed territory in early Friday trading as claims over global market share competed against market predictions from the World Bank. Crude oil prices reacted Thursday Continue Reading
Traders say Libya, Nigeria and Kazakhstan add to oversupply Brent crude time-spreads weaken to levels seen in February Listen to Saudi Arabia and hear the oil market is rebalancing. Look Continue Reading
OPEC’s agreement on an new production target has been followed by a bout of renewed optimism about the rebalancing of the oil market. But there are so far few signs Continue Reading
The world’s leading maritime nations are leaning toward setting rules next week to cut the sulfur in oceangoing vessels’ fuel by more than 85% in 2020, people familiar with the Continue Reading
Investors and oil market watchers are constantly wondering just how much oil is in the ground. Just how large are each country’s oil reserves? The market seems to cycle between Continue Reading
Historic week in oil and gas exploration. With the tiny Central American nation of Belize kicking off its first-ever offshore evaluation work this past Thursday . That area could yield Continue Reading
Three improvised explosive devices have hit Basra city in the past three days, highlighting ongoing security problems. Iraqi security and intelligence forces discover improvised explosive devices in the al-Badiya area Continue Reading
Libya’s Es Sider is set to resume exports in the coming weeks, with the first cargo potentially being lifted by Libya’s National Oil Corporation (NOC) during the first week of Continue Reading
Rouhani Barkindo Despite Iran’s efforts to re-enter the oil market, and amid promises two years ago by the country to open up the industry to foreign market after the sanctions Continue Reading
Declining oil production and export volumes due to militancy and large-scale crude theft cut the Nigerian government’s gross revenue in September by about 12% from August to Naira 279.75 billion Continue Reading
National electoral council suspended key stage of process If delayed until next year, Maduro won’t face new elections A nearly year-long push by Venezuela’s opposition to gather support for a Continue Reading
Venezuela’s opposition cried “dictatorship” on Friday after government officials suspended a constitutionally allowed referendum against President Nicolás Maduro, making it unlikely that the socialist leader’s foes will be able to Continue Reading
Maduro, Del Pino to visit Saudi Arabia, Iran, Azerbaijan Bondholders have until 5 p.m. New York time to swap bonds Venezuelan President Nicolas Maduro and his energy minister Eulogio del Continue Reading
President seeks ‘alliance’ of OPEC, non-OPEC producers U.S. ‘can’t be isolated’ from discussion on global oil glut Venezuelan President Nicolas Maduro wants to invite the U.S. to OPEC’s next meeting, Continue Reading
Venezuela’s government, steadily more authoritarian in recent years, cast off more vestiges of democracy Thursday night, when electoral authorities extinguished the opposition’s efforts to recall President Nicolás Maduro by referendum. Continue Reading
Chinese steel mills are becoming cleaner every month as Beijing pushes to curb its smoke-stack industries. But they’re not getting any leaner. Despite efforts to step up environmental checks and Continue Reading
The U.S. Energy Department said it expected more crude oil will enter the country from foreign countries in part because U.S. oil was less cost effective. During the first half Continue Reading
Oil-field services companies such as Halliburton and Schlumberger say they have sharpley reduced their prices… The worst of the oil bust may be over, but the energy industry’s infighting has Continue Reading
U.S. gross crude oil imports increased by 528,000 barrels per day (b/d), or 7%, during the first half of 2016 compared to the first half of 2015. This increase reverses Continue Reading
The top oil officials and executives gathered in London this week for the Oil & Money conference, jointly hosted by the New York Times and Energy Intelligence. Several headlines came Continue Reading
Shale drilling This week’s Baker Hughes report shows an 11-rig increase in the United States oil count, marking 17 straight weeks of no-decline in the active rig figure. The streak Continue Reading
”Come writers and critics Who prophesize with your pen And keep your eyes wide The chance won’t come again.” Nobel Prize winner Bob Dylan must have been an oilman in Continue Reading
The Railroad Commission of Texas (RRC) has recently reported new data for oil and natural gas output through August 2016. Dean Fantazzini has kindly shared his corrected data using the Continue Reading
OPEC’s agreement on an new production target has been followed by a bout of renewed optimism about the rebalancing of the oil market. But there are so far few signs Continue Reading
Russia is not going to keep a low profile in the global battle for a stronger presence in the oil market, the head of oil company Rosneft said. The Organization Continue Reading
The signing of an investment deal for a Baltic gas pipeline is the first step in breaking Russia’s grip on Finland’s energy sector, a European official said. European Commission President Continue Reading
Greece will repay all its oil debts to Iran under a two-year instalment plan, Iran’s Mehr News Agency reported on Friday, quoting deputy oil minister for international affairs, Amir Hossein Continue Reading
Energy ministry sees steady production increases this decade Iran, Iraq adopt similar stance before cuts negotiations As Russia gets ready for talks on cooperation with OPEC on Monday, it’s using Continue Reading
Russia is capable of substantial production increase: Rosneft Nigeria cuts price of all its crude to boost market share Crude held above $50 a barrel as investors weighed the likelihood Continue Reading
Oil prices were stable on Friday, weighed by a stronger dollar, but supported by signs that physical fuel markets were tightening after two years of ballooning oversupply. The dollar rose Continue Reading
Whiting refinery As yesterday’s exceedingly mixed weekly EIA report is digested, oil prices are unwinding a good deal of yesterday’s knee-jerk rally. As dollar strength further encourages crude lower, hark, Continue Reading
Natural gas prices fell to a two-week low on Thursday, as warm weather and heavy stockpiles continued to weigh on the market. The U.S. Energy Information Administration said natural-gas stockpiles Continue Reading
Oil prices fell on Thursday, unable to sustain the previous day’s rally, as investors cashed in on gains from a larger-than-expected decline in the U.S. crude inventory. U.S. crude for Continue Reading
Crude oil drips from a valve at an oil well operated by Venezuela’s state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of Monagas Continue Reading
Saudi Arabia’s energy minister Khalid al-Falih spoke at the Oil & Money Conference in London this week, where he offered a robust defense of OPEC’s 2014 decision to not intervene Continue Reading
The NYMEX November natural gas futures contract fell Thursday after the US Energy Information Administration estimated a build to gas storage stocks that was slightly higher than analysts expected. The Continue Reading
Two years after Iran pledged to open up its oil industry in anticipation of the lifting of sanctions, foreign companies say they still have little information about Iranian oil fields Continue Reading
Saudis to announce “concrete plans” for nuclear within a year Neighbor U.A.E. signs reactor deal with Korea Electric Power Saudi Arabia will soon choose a site for its first nuclear Continue Reading
There are too many risk factors at play to express any sense of real optimism about a full market return for Libya’s oil, the Royal Bank of Canada said. In Continue Reading
Despite a brief halt to the fighting, the security situation in Yemen is too volatile to return to production, Austrian energy company OMV said. U.S. Secretary of State John Kerry Continue Reading
Iran opens up bidding with new terms on oil projects, but sanctions preclude US companies from participating. When Iran offers up stakes in several oil production projects under new contract Continue Reading
Isis has launched a surprise attack on the Kurdish-controlled city of Kirkuk in Iraq, its first major incursion into an Iraqi city outside its control in months. Suicide bombers and Continue Reading
The sounds of battle north of Mosul on Thursday morning told the story of how Islamic State fighters had chosen to meet a new Kurdish assault: the eruptions of suicide Continue Reading
Peshmerga forces opened a new, northern front on Thursday in the offensive to retake Mosul from the Islamic State (IS) militant group, which is putting up a determined defense and Continue Reading
Libya has been teetering on the edge of economic collapse for a couple of years now, and may have just made a narrow escape, right when the World Bank issued Continue Reading
Saudi Arabia is selling a huge bond deal to international investors Wednesday. The country is, “borrowing out of the oil crash,” surmises research firm CreditSights . The country needs the Continue Reading
