After reporting production gains, the Norwegian government confirmed a discovery Friday of at least 25 million barrels in its waters of the North Sea. The Norwegian Petroleum Directorate said it Continue Reading
96 percent of new vehicle sales in 2016 featured combustion engines The implementation of electric vehicles and ride-sharing may have long-term effects on oil demand, but the speed at which Continue Reading
A model of the behaviour of carbon in the atmosphere. Credit: NASA. NASA, the US space agency, has released an “eye-popping” three-dimensional animation showing carbon dioxide emissions moving through the Continue Reading
Some great statistics in this article . The theme: despite the current glut in oil, much of that due to the shale revolution, demand is likely to put stress on Continue Reading
A motorist holds a fuel pump at a Gulf petrol station in London April 18, 2006. Oil prices nudged higher in tepid Asian trading on Thursday, supported by a weaker Continue Reading
Oil prices edged up on Wednesday as investors bet that major oil producers will stick to their deal to cut output next year and help rebalance the market. While trading Continue Reading
OPEC and non-OPEC oil producers have agreed to reduce their combined output by more than 1.7 million barrels per day for six months from January 2017. But the agreement contains Continue Reading
Tis’ the season to not be a curmudgeon, but let’s not throw common investment sense away, because OPEC made a deal. This cutback on production has been a long time Continue Reading
This year has been tumultuous for oil. From the US$27 a barrel trough we witnessed in February to the spike to US$55 after OPEC announced a labored deal to reduce Continue Reading
Offshore oil majors could shave nearly a third off their exploration and development costs by simply agreeing to industry-wide equipment standards, according to an industry association executive. Rather than having Continue Reading
Operations at the major Libyan oilfield of Sharara were gradually resuming on Wednesday after the lifting of a two-year blockade on a pipeline leading from the field, a senior official Continue Reading
European governments are quietly warning the incoming Trump administration that the US will get the blame if any new economic sanctionson Iran lead to the collapse of the 2015 nuclear Continue Reading
Iraq said most international oil companies working in the country, along with the nation’s semi-autonomous Kurds, have agreed to cut crude output to fulfill an OPEC accord. Iraq is fully Continue Reading
Saudi Arabia’s long-awaited drive to free up more oil revenue by shifting to solar power generation is expected to pick up speed next quarter, according to local developers eyeing contracts. Continue Reading
Venezuela’s newly created and military run oil and mining company Camimpeg has formed a joint venture with UK-based Southern Procurement Services (SPS) to reactivate shut-in wells in Lake Maracaibo in Continue Reading
Physicists in South Korea managed to keep high-performance plasma stable for 70 seconds this week. This gives the Korean Superconducting Tokamak Advanced Research (KSTAR) reactor the record for the longest Continue Reading
BEIJING, Dec. 21 (Xinhua) — Beijing will lift a red alert for air pollution on Wednesday night as cold air disperses the smog that has affected the city for several Continue Reading
Chinese President Xi Jinping said Wednesday that the country’s north should promote the use of clean energy in winter heating with a view to reducing the number of smoggy days. Continue Reading
Oil extended its advance as industry data showed U.S. crude stockpiles declined last week, trimming an inventory overhang. February futures rose as much as 0.9 percent in New York after Continue Reading
U.S. and Canadian voices debated the wisdom of the indefinite ban on oil and gas work in some of its territorial waters, the Arctic in particular. As part of a Continue Reading
With just a few days before Christmas weekend, U.S. holiday travelers are seeing spikes at the gas pump because of higher oil prices, a retail analyst said. Motor club AAA Continue Reading
President Obama has announced what amounts to a ban of offshore drilling in huge swaths of continental shelf in both the Alaskan Arctic Ocean and Atlantic Ocean, a decision which Continue Reading
U.S. Gulf Coast refiners are cashing in on rising fuel demand from Mexico, shipping record volumes to a southern neighbor that has failed to expand its refining network to supply Continue Reading
The Energy Returned on Energy Invested (EROEI) concept is very frequently used in energy studies. In fact, many readers seem to think, “Of course, EROEI is what we should be Continue Reading
Only when crude oil markets balance out in the second half of next year can major players starting talking about market recovery, Russia’s oil minister said. An agreement by members Continue Reading
Russia’s gas production, including associated petroleum gas, is estimated at 637 Bcm in 2016, which would represent a marginal increase of 0.2% year on year, energy minister Alexander Novak said Continue Reading
There’s less than two weeks left before the 2016 calendar gets tossed. So for the pundit community it’s time to publish the obligatory list of, “What to Watch For in Continue Reading
Will climate change spark a financial crisis? It may not seem like an obvious connection but that was exactly the warning from the deputy head of the Bank of England Continue Reading
Oil prices inched up on Tuesday in a low volume trading session after the American Petroleum Institute’s (API) weekly report showed a larger than expected draw of 4.15 million barrels Continue Reading
Oil extended its advance as industry data showed U.S. crude stockpiles declined last week, trimming an inventory overhang. February futures rose as much as 0.9 percent in New York after Continue Reading
Oil prices edged higher Tuesday as coming cutbacks from some of the world’s biggest producers keep supporting the market when trading is light because of the holidays. Light, sweet crude Continue Reading
The NYMEX January natural gas futures contract traded lower for a fourth straight day Tuesday as increasingly bearish weather forecasts continued to weigh on the market. The contract settled at Continue Reading
Oil prices could fall to as low as $10 per barrel within a decade as a “tsunami” of threats could undo demand. That prediction comes from Engie SA’s innovation chief, Continue Reading
GFS model simulation of temperature difference from normal Thursday. (WeatherBell.com) It’s not normal, and it’s happening again. For the second year in a row in late December and for the Continue Reading
Saudi Arabia is considering increasing retail gasoline and diesel prices in 2017 for the second year in a row, as the world’s top crude exporter pursues a plan to cut Continue Reading
Libya’s National Oil Company said Tuesday long shuttered pipelines had reopened in the country’s west that could supply 270,000 barrels a day of crude oil in the next three months—almost Continue Reading
Even though crude prices may be subdued amid thin trading over the holiday period, there is always a thing (or five) going on in the oil markets. Henceforth, hark…here are Continue Reading
Libya reopened two of its biggest oil fields and is set to load its first crude cargo in two years from its largest export terminal as the war-torn country pursues Continue Reading
In the wake of recent developments, Libya’s National Oil Corporation now has full control over all its oilfields and export terminals. After the recapture of the Eastern region export terminals Continue Reading
Ghana will miss its budget deficit target for 2016 because of disappointing oil output and higher-than-expected spending on elections and energy sector debts, Finance Minister Seth Terkper said. West Africa’s Continue Reading
A member of the Venezuelan army stands in front of commercial properties after looting erupted… PUERTO ORDAZ, Venezuela—President Nicolás Maduro’s government deployed 3,000 troops to the southeastern state of Bolivar Continue Reading
Japan on Wednesday formally pulled the plug on an $8.5 billion nuclear power project designed to realize a long-term aim for energy self-sufficiency after decades of development that yielded little Continue Reading
A group of lawyers has filed a lawsuit against the Chinese government for failing to prevent the severe smog that has covered the north over the past week, underlining the Continue Reading
A worker drives an open truck full of coal before unloading it inside a warehouse in Tondo city, metro Manila January 11, 2016. Asian thermal coal prices are set to Continue Reading
The government has shut schools, restricted road traffic and urged people to stay indoors as 24 cities across north-east China were put on “red alert” for extreme smog on Tuesday. China’s Continue Reading
Struggling shale company Chesapeake Energy said Tuesday it was anticipating a recovery next year after releasing a good portion of its non-core gas assets. The company said it sold another Continue Reading
The financial spotlight is on the auto companies that will produce electric cars, especially on… The next automotive revolution will be electric, or so they say. The financial spotlight is Continue Reading
There are few places on earth as geothermal-friendly as the island nation of Iceland, with 25 percent of its total electricity production coming from geothermal facilities. So it makes sense Continue Reading
Hundreds of kayaktivists protest drilling in the Arctic and the Port of Seattle being used as a port for the Shell Oil drilling rig Polar Pioneer (Daniella Beccaria/seattlepi.com via Associated Continue Reading
The US and Canada agreed Tuesday to designate the majority of their Arctic waters off limits to oil and natural gas drilling. The US is also permanently withdrawing areas of Continue Reading
