Russia will seek discussions at a planned meeting with OPEC on Saturday about how the group will fully comply with production cuts, following an increase in its November oil output, Continue Reading
President Hassan Rouhani of Iran is racing to sign as many oil deals with Western companies as he can before hard-liners at home and President-elect Donald J. Trump have a Continue Reading
A worker walks at Nahr Bin Umar oil field, north of Basra, Iraq December 21, 2015. Saudi Arabia and Iraq are set to supply full contracted volumes of crude to Continue Reading
The possibility that Beijing may not award oil product export quotas to independent refiners has created turmoil in the industry and raised questions on the impact this would have on Continue Reading
Chinese state-owned oil traders PetroChina and Unipec have chartered ships to load more than 2 million barrels of U.S. crude oil in December, three sources with knowledge of the matter Continue Reading
Claiming a leadership position in North America, a German energy company said it’s planning to install a wind farm in the oil-rich state of Texas. German energy company E.ON said Continue Reading
A Nikola One Truck is shown. Heavy-duty electric trucks remain a rare sight on highways,… Officials in Colorado are planning a public-road test of battery-charging technology capable of powering electric Continue Reading
Oil Field As the United States catches its breath following the shock election victory of Donald Trump, the oil industry could be facing significant changes, including the President elects’ open Continue Reading
In one of the more unexpected visits to take place to the penthouse at the Trump Tower on Wednesday, Leonardo DiCaprio and the head of his foundation met with President-elect Continue Reading
Canadian oil sands producers are finally ready to grow again as Cenovus Energy Inc. and Canadian Natural Resources Ltd. announce they are pushing ahead with expansion projects two years into Continue Reading
The U.S. shale revolution that turned North American energy markets upside down is finally headed to the world’s largest consumer of liquefied natural gas: Japan. Jera Co., a joint venture Continue Reading
Oil Company What was once a mere warning to the oil industry has now become a reality: the severe cost cuts undertaken by virtually every oil and gas business in Continue Reading
No compatible source was found for this media. Saudi Arabia’s top oil official once said the Organization of Petroleum Exporting Countries should have little faith in any partnership with Russia. Continue Reading
Bob Dudley UK’s oil major BP (NYSE:BP) will double its production in the North Sea to 200,000 barrels of oil per day, chief executive Bob Dudley said in an interview Continue Reading
Oil and gas extraction in the UKCS decreased by 10% year-on-year, and by 10.8% month-on-month, in October, according to the latest numbers from the Office for National Statistics (ONS). Oil Continue Reading
Our economy is a mystery to almost everyone, including economists. Let me explain the way I see the situation: (1) The big thing that pulls the economy forward is the Continue Reading
Oil prices edged up on Thursday, supported by a weaker dollar ahead of next week’s Federal Reserve meeting and by a drawdown in U.S. crude stocks. International Brent crude futures Continue Reading
As the meeting of NOPEC fast approaches this weekend, the mood in the oil market has shifted from euphoria to skepticism, as questions remain around the intent of key producers. Continue Reading
Oil prices fell on Wednesday on persistent doubts a planned crude production cut led by OPEC and Russia would be deep enough to end a supply overhang that has dogged Continue Reading
For the first 11 months of the year, OPEC talked oil prices up, but by December it became clear that oil prices were not going to rise higher on mere Continue Reading
The resurgence of U.S. shale will undermine the OPEC-fueled price rally, capping oil prices at roughly $50 per barrel through 2017. That is the conclusion from the EIA’s latest Short-Term Continue Reading
As far as one of the world’s biggest commodities traders, Glencore’s chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of “a cat and mouse game” Continue Reading
OPEC won’t insist that all countries participating in a global oil-supply accord actively cut their production, accepting natural output declines from some nations, according to three oil officials familiar with Continue Reading
Shell said it had signed a preliminary deal with Iran’s state oil company. Above, Shell… LONDON— Royal Dutch Shell PLC on Wednesday said it had signed an agreement with Iran’s Continue Reading
Kuwait will be taking a leadership role in monitoring the Organization of Petroleum Exporting Countries’ (OPEC) week-old production freeze deal, according to acting oil minister Anas al-Saleh, who said he Continue Reading
Oilfield services spending for onshore shale will grow as a result of OPEC’s production cut, but offshore suppliers will struggle in 2017. The Organization of Petroleum Exporting Countries’ (OPEC) decision Continue Reading
Yes, it’s true. Middle East net oil exports are less than they were 40 years ago. How could this be? Just yesterday, Zerohedge released a news story stating that OPEC Continue Reading
Oman, the largest Arab oil producer that’s not an OPEC member, plans to sell between $1.5 billion to $2 billion of bonds internationally in 2017 to plug a deficit caused Continue Reading
Iraq can’t count on the self-governed Kurds in the north or international oil companies to help it cut crude production as promised at an OPEC meeting last week. That may Continue Reading
Iranian media reported Wednesday a delegation from Austrian energy company OMV is en route to Tehran to explore stronger energy ties with the Islamic republic. “An energy committee between Iran Continue Reading
Venezuela – one of the OPEC deal’s staunchest promoters and supporters – produces around 500,000 barrels per day of heavy oil, and this figure has been left out of the Continue Reading
Mexico plans to increase its crude oil production substantially, overtaking both Venezuela and Brazil if its plans work out. This has emerged after earlier this week, the country awarded nine Continue Reading
Suhail Al-Mazrouei UAE’s Oil Minister Suhail al-Mazrouei said in a TV interview he did not expect any “significant growth” in shale oil output anytime soon, despite higher oil prices resulting Continue Reading
Iraq’s Parliament approved the 2017 federal budget on Wednesday, despite boycotts by some MPs from both the autonomous Kurdistan region and Iraq’s southern oil provinces, who were pressing for larger Continue Reading
One of the biggest engines soaking up the world’s oil is starting to sputter. Growth in crude imports by China, the second largest consumer after the U.S., will probably slow Continue Reading
Bank of Nanjing has grown rapidly by making loan-like investments that are loosely regulated. In 2014, the Chinese city of Haimen on the mouth of the Yangtze River set out Continue Reading
China’s small, independent refiners are set to raise their crude oil imports again in 2017 on expectations that Beijing will keep their intake quotas steady, market participants said, a move Continue Reading
Pennsylvania environmental regulators have fined a natural-gas driller more than $3.5 million for violations at 10 well sites and six pipeline locations. The Department of Environmental Protection said Wednesday that Continue Reading
With oil prices recovering from yearly lows, oilfield services company Baker Hughes said there was an increase in U.S. exploration and production activity. Baker Hughes reported an average 580 rigs Continue Reading
The newly-minted head of a Texas oil and gas commission said her focus over the next five years was to lower the economic burden for the industry. Christi Craddick was Continue Reading
President-elect Donald Trump on Wednesday chose Oklahoma Attorney General Scott Pruitt to lead the Environmental Protection Agency, according to a transition official, turning to a climate-change skeptic and sharp critic Continue Reading
President-elect signals intent to undo Obama efforts at curbing greenhouse emissions Donald Trump has signalled his intent to undo Barack Obama’s efforts to curb climate change by choosing as his Continue Reading
President-elect Donald J. Trump has selected Scott Pruitt, the Oklahoma attorney general and a close ally of the fossil fuel industry, to run the Environmental Protection Agency , signaling Mr. Continue Reading
The Kremlin has announced that commodities trader Glencore and Qatar’s sovereign wealth fund are together buying a 19.5% stake in Rosneft, Russia’s largest oil company. “It is the largest privatisation Continue Reading
“If you don’t have your crews lined up by now, you’re not going to be able to complete your wells in Q1,” replied my oilfield service friend. “We’re fully booked Continue Reading
The EIA has just released its Short-Term Energy Outlook . Some of their projections should be taken with a grain of salt because they usually change every month. Nevertheless… All Continue Reading
Some $11.6 billion of Chevron’s $19.8-billion capital spending plan will target international upstream projects. For a fourth consecutive year, Chevron Corp. will reduce spending in its capital budget, which is Continue Reading
The Russian government is committed to cutting oil production in line with world producers but now comes the hard part: making it happen. Russian Energy Minister Alexander Novak pledged last Continue Reading
Researchers from Augmented Optics Ltd. and the University of Surrey, in collaboration with the University of Bristol, have developed new, crosslinked gel-matrix polymer electrolytes exhibiting measured capacitance values more than Continue Reading
Oil traded near $51 a barrel amid speculation a production boost from U.S. shale producers will counter the first output cuts from OPEC in eight years. Futures rose 0.4 percent Continue Reading
