Commercial production from the giant Kashagan oil field in the Caspian waters of Kazakhstan has begun, a spokesperson for a regional operating company said. Production at Kashagan, which holds an Continue Reading
Nigeria’s economic slump deepened in the third quarter as oil production continued to fall and factory output was hit by a shortage of dollars. Gross domestic product in Africa’s most Continue Reading
Venezuela’s state oil company reportedly is delaying $404 million in bond payments in an apparent sign that the oil giant’s financial woes are worsening amid the slump in petroleum prices. Continue Reading
Venezuela’s state oil company PDVSA has apparently only made a partial interest payment due on three bonds last week. About $539m of coupon payments on bonds maturing in 2021, 2024 Continue Reading
It’s been a tough week for the U.S. oil and gas industry, with the Department of Interior annulling 25 leases in Colorado’s Mancos shale (for environmental reasons), and then cancelling Continue Reading
When a massive country de-nationalizes its entire energy sector and opens its oil and gas doors for the first time ever to foreign companies, the opportunities are staggering. Welcome to Continue Reading
A loan totaling more than $150 million will help Bangladesh address the mounting energy challenges in its expanding economy, the Asian Development Bank said. The ADB said it approved a Continue Reading
Toyota and Mazda — the two Japanese automotive groups most sceptical about electric vehicle technology — have finally revealed plans to mass-produce battery-powered cars. They are late to a game Continue Reading
During the second presidential debate on October 9, Republican presidential nominee (now President-Elect) Donald Trump claimed that “clean coal” could meet the energy needs of the United States for the Continue Reading
A bill that could bring thousands of jobs back to Texas’ struggling oilfields is up for consideration when the Legislature reconvenes in January. The so-called Majority Rights Protection Act, filed Continue Reading
Exxon Mobil , under fire over its past efforts to undercut climate science , is accusing the Rockefeller family of masterminding a conspiracy against it. Yes, that Rockefeller family. The Continue Reading
One of the sad ironies of Donald Trump’s victory is that climate change has risen up the political agenda only after the campaign, when both candidates and debate moderators largely Continue Reading
One of its molecular mysteries of photosynthesis involves how the photosystem II protein complex harvests energy from sunlight and uses it to split water into hydrogen and oxygen. Now, an Continue Reading
In the emotion-laden aftermath of the U.S. presidential elections, the focus of all energy attention seems to be exclusively on crude oil and domestic production. Specifically, on whether energy independence Continue Reading
The Obama administration is rushing to get a flurry of priorities done before Donald Trump takes office. One of those items was a five-year lease plan from the Department of Continue Reading
A collage of melting sea ice in the Kane Basin between Greenland and Canada’s Ellesmere Island. As extraordinarily warm temperatures continue in the Arctic — temperatures tens of degrees Fahrenheit Continue Reading
Canada plans to completely phase out traditional coal power by 2030 and will work with the country’s four remaining provinces that still burn the fossil fuel to reach the overall Continue Reading
Some semblance of stabilization in the energy sector has resulted in a net positive for the state of the Texas economy, a regional banker said. The Federal Reserve Bank of Continue Reading
Agency head Massad said to be circulating position limit plan Latest version would take into account industry demands Timothy Massad, the top U.S. derivatives regulator, is trying to push ahead Continue Reading
A gathering of Russian oil firms and President Vladimir Putin that had been scheduled for Nov. 23, a week before an OPEC meeting in Vienna, has been postponed, Kremlin spokesman Continue Reading
There are no serious issues standing in the way of an OPEC production proposal and Russia is ready to do its part by freezing output, the president said. “We have Continue Reading
As one oil major after the other considers leaving Norway, the alarm bells are sounding at the country’s Petroleum and Energy Ministry. Officials warned companies this month that they could Continue Reading
When President-elect Donald J. Trump met with the British politician Nigel Farage in recent days, he encouraged Mr. Farage and his entourage to oppose the kind of offshore wind farms Continue Reading
Oil prices rose around 1 percent on Monday as producer cartel OPEC moved closer to an output cut to rein oversupply that has kept prices low for over two years. Continue Reading
Oil futures advanced in Asian trade Monday following fresh diplomatic wrangling ahead of a highly anticipated meeting of the Organization of the Petroleum Exporting Countries next week. On the New Continue Reading
A report from auditors PricewaterhouseCoopers (PwC) has revealed that oil prices are unlikely to climb back to the $100 level, and will have a limited rise from the current spot Continue Reading
Iraq’s oil minister Jabar Ali al-Luaibi will make suggestions at a meeting of OPEC oil ministers at the end of the month to implement an agreement to restrain crude supply Continue Reading
OPEC meets in Vienna on Nov. 30 to discuss production limits Iran, Russia, Saudi Arabia have signaled optimism about deal Iraq, OPEC’s second-biggest producer, will offer proposals this month to Continue Reading
Iran’s Zanganeh says ‘highly probable’ OPEC will cut output Iraq will offer new plan for Vienna meeting, minister says Oil extended gains as Iran signaled optimism OPEC will agree to Continue Reading
Saudis seek collective curbs under ‘Four Pillar’ approach Iran and Iraq pose challenge, Russia participation in question OPEC says it’s close to a deal to cut oil output for the Continue Reading
Producer, hedger bets on WTI rise to highest since 2007: CFTC Oil traders bought record number of WTI calls on Nov. 15 Money managers, producers and consumers made the biggest Continue Reading
On the Persian Gulf, the Sadara Chemical Co. is a joint venture owned by Saudi… GELEEN, Netherlands—Saudi Arabian Oil Co. has been the world’s single largest crude producer for decades. Continue Reading
Market stall vendors in Yenagoa, Nigeria. Economy shrank year-on-year for three consecutive quarters IMF forecasts Nigeria economy will contract 1.7% in 2016 Nigeria’s economic slump continued in the third quarter Continue Reading
India is trying to boost sales of its low-quality coal by offering more of the fuel at home and initiating steps to lower freight costs, while global prices are high, Continue Reading
Electric Car Chevy is about to release its all-electric Bolt. Tesla will soon put its Model 3 on sale. More than a dozen additional EV models will be launched in Continue Reading
The bullish view for Suncor Energy Inc ( SU.TO ), Cenovus Energy Inc ( CVE.TO ) and other Canadian energy producers calls for Prime Minister Justin Trudeau by next month Continue Reading
Hundreds of protesters opposed to a North Dakota oil pipeline project they say threatens water resources and sacred tribal lands clashed with police who fired tear gas at the scene Continue Reading
Russian President Vladimir Putin said he sees no obstacles to an OPEC agreement this month after oil exporters made major progress in overcoming differences as he reaffirmed Russia is willing Continue Reading
The first rule of making projections out to 2040 is to recognize the fact that you’ll almost certainly be wrong. After all, think about doing the same thing back in Continue Reading
Oil futures edged lower Friday with volatility expected ahead of a meeting later this month of major oil producing countries aiming to strike a deal to cut output and stabilize Continue Reading
Oil prices spiked this week on the renewed push by OPEC to overcome differences on a production cut. WTI and Brent rose back above the mid-$40s per barrel, up from Continue Reading
Baker Hughes reported an astonishing 20-rig gain this week to the number of active oil and gas rigs in the United States for its November 18th reporting period, bringing the Continue Reading
OPEC member countries have proposed Iran cap its oil output at 3.92 million barrels per day (bpd) under a production-limiting deal for the whole group, a source familiar with the Continue Reading
No solution offered for Iran, Iraq’s resistance to output cuts Russia reiterated offer to accept a production ceiling OPEC said it made progress toward a deal to cut production by Continue Reading
A Russian delegation visiting Tehran on Friday signed a handful of agreements to work with an Iranian oil company, a managing director said. More than two dozen representatives from top Continue Reading
OPEC’s eagerly awaited production cut agreement may have just gotten even harder to reach as OPEC members meeting in Doha are now asking Iran to freeze its output at 3.92 Continue Reading
Less than two weeks before OPEC’s next Most Important Meeting Ever the oil market is doubtful that the cartel will reach a meaningful supply reducing agreement. Traders have revealed skepticism Continue Reading
Iraq would have to compensate international oil companies for limits placed on their production, according to industry sources and documents seen by Reuters, further reducing the prospect it will join Continue Reading
President-elect Donald Trump’s harsh rhetoric toward the Joint Comprehensive Plan of Action more likely means renegotiation, not starting from scratch. For all of the bombast that characterized his march toward Continue Reading
Glencore is seeking to raise $550 million from investors via a debt issue guaranteed by oil from Iraqi Kurdistan in an attempt to secure a big slice of the high-risk Continue Reading
