It’s Christmastime on Oxford Street. Brilliant displays of white lights rain from above. Decked-out shoppers dash from one gaudy sale to the next. And Johnny Conquest breathes in poison. “The Continue Reading
In the history of the oil and natural gas industry in the United States, 2016 will be remembered as one of the most eventful in terms of major market developments, Continue Reading
Oil prices were steady on Tuesday in timid trading ahead of the year-end holidays, with investors beginning to unwind positions without expecting to take up new ones until the start Continue Reading
Oil extended gains above $52 a barrel as a planned production boost from Libya stalled amid continuing tension in the OPEC member that’s exempt from output cuts. Futures climbed as Continue Reading
Oil prices inched up on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Continue Reading
Heading into the New Year with oil prices above US$50, both OPEC and the U.S. shale industry are claiming victory in the latest oil war battle—and both expect to benefit Continue Reading
OPEC logo is pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria September 28, 2016. Hedge funds have amassed Continue Reading
Few countries have benefited from the oil market’s 2016 recovery like Iran. Since sanctions on its economy were eased in January, the Persian Gulf producer has doubled exports as prices Continue Reading
There’s been no directive from the government in Baghdad to curb oil production for next year, the head of a Russian oil company said. Russian oil company Lukoil started production Continue Reading
The director-general of the nuclear watchdog for the United Nations said oil-rich Iran is meeting its commitments to downplay weapons concerns. Yukiya Amano, the director-general of the International Atomic Energy Continue Reading
The IPO of Saudi Aramco in 2018 is expected to bring in an all-time high in fees for investment banks that help the oil company go public, a major payday Continue Reading
An oil tanker docked at the east Libyan port of Es Sider on Monday to load the first cargo of crude since the terminal reopened following a two-year closure, port Continue Reading
Disappointing exploration results drove Exxon to relinquish half of its Kurdistan portfolio, according to private correspondence with Turkey’s energy leaders published by Wikileaks. ExxonMobil CEO Rex Tillerson (second from left) Continue Reading
Venezuela’s President Nicolas Maduro speaks during a meeting with ministers at Miraflores Palace in Caracas, Venezuela December 17, 2016. Miraflores Palace/Handout via Venezuelan President Nicolas Maduro said he would soon Continue Reading
A Colombian energy company said it was involved in a new oil discovery in the U.S. waters of the Gulf of Mexico, its fifth so far. A U.S. subsidiary of Continue Reading
India’s crude oil imports in November rose 12.7% year on year to 18.76 million mt, or an average 4.58 million b/d, latest provisional data from the country’s Petroleum Planning and Continue Reading
When Prime Minister Nawaz Sharif came to office in 2013, rolling power outages across the country were plunging homes and businesses into darkness for up to 12 hours a day. Continue Reading
Air pollution worsened on Monday in many parts of northern China, with poor visibility disrupting air and ground traffic. Tianjin airport said that from 8:30 p.m. Sunday to 10 a.m. Continue Reading
China National Offshore Oil Corporation’s (CNOOC) oil refinery is seen in Huizhou, China’s southern Guangdong province July 28, 2009. Asia will post its biggest net refining capacity addition in three Continue Reading
If OPEC action drives crude oil averages to $55 per barrel and beyond, the oil and gas industry will be cash flow positive for the first time since the downturn Continue Reading
The Interior Department on Monday issued a rule putting tighter restrictions on coal mining near streams, one of several environmental rules President-elect Donald Trump has targeted to undo once he Continue Reading
Recovery in oil prices following an OPEC agreement to trim production should help stimulate oil activity in shale plays in the United States, analysis finds. Crude oil prices ended November Continue Reading
Southern California Gas Co (SoCalGas) has urged customers to reduce natural gas use to help lower the risk of possible gas and electricity shortages due to what it described as Continue Reading
With the rebound in oil prices underway and the astronomic costs stemming from the 2010 Deepwater Horizon disaster in the rear view mirror, BP is once again looking to make Continue Reading
Today’s issue is a little different to usual. That’s mostly because of time constraints. I’m preparing my speech for the launch party for The Exponentialist this evening. It promises to Continue Reading
Britain’s High Court ruled on Tuesday that a local government’s shale gas fracking permit award to developer Third Energy was legal, claimants Friends of the Earth said in a statement. Continue Reading
Oil extended gains above $52 a barrel as a planned production boost from Libya stalled amid continuing tension in the OPEC member that’s exempt from output cuts. Futures climbed as Continue Reading
An employee at a Total fuel station waits for customers in south Jakarta February 12, 2015. Oil prices inched up on Monday in anticipation of tighter crude supply going into Continue Reading
Libyan oil-facility guards prevented two of the country’s biggest fields from resuming production, days after the National Oil Corp. reached an agreement to restart operations there to boost output in Continue Reading
Libya’s National Oil Co. has for now stopped the relaunch of production at oil fields in the country’s west, Libyan officials said Sunday, after a militia threatened to block the Continue Reading
OPEC’s efforts to hold market share in Asia by keeping its customers, which take about two-thirds of its exports, supplied amid wider output cuts could prolong the global fuel glut Continue Reading
Air pollution worsened on Monday in many parts of northern China, with poor visibility disrupting air and ground traffic. Tianjin airport said that from 8:30 p.m. Sunday to 10 a.m. Continue Reading
Beijing’s city government has ordered 1,200 factories near the Chinese capital, including an oil refinery run by state oil major Sinopec and a Cofco food plant, to either shut or Continue Reading
President-elect Donald Trump has started naming his picks for key administration offices, and it looks like he is beginning to assemble a team to deliver on at least part of Continue Reading
Proved oil and gas reserves down 11.8 percent and 16.6 percent, respectively, from year-end 2014 EIA has downgraded its estimates of proved oil and gas reserves in the U.S., according Continue Reading
The chief architect of President Barack Obama’s climate change policies has warned the incoming Trump administration that US law and the scientific evidence of global warming will constrain any attempt Continue Reading
Three years and three months later, a massive oil spill in North Dakota still isn’t fully cleaned up. The company responsible hasn’t even set a date for completion. Though crews Continue Reading
BP ( BP.L ) on Monday agreed to buy stakes in gas-heavy exploration areas off the coast of Mauritania and Senegal from Kosmos ( KOS.N ), days after announcing the Continue Reading
The deal also makes BP the operator of the project, giving the British oil giant… BP PLC will invest nearly $1 billion in a vast natural gas field off the Continue Reading
If the ExxonMobil CEO is confirmed as the new U.S. Secretary of State, the evolving relationship between Russia and the United States will take an interesting turn. Rex Tillerson could Continue Reading
Oil prices rose on Friday after Kuwait appeared to be lining up bigger supply cuts than had been initially expected from January as part of a coordinated effort by oil Continue Reading
In just five days, Goldman Sachs has changed its mind about the expected OPEC cuts compliance, now seeing cartel members—especially Saudi Arabia—as having a “strong” incentive to stick to promised Continue Reading
Oil bulls were all smiles this past weekend when non-OPEC producers lead by Russia agreed to cut production by more than 550k bpd for a six-month term beginning in January. Continue Reading
Oil prices were steady Friday, under pressure from potential production increases in Libya where operations have restarted at two key oil fields. Brent crude, the global oil benchmark, edged down Continue Reading
Scientists at institutions in the United States and Australia on Friday published a set of unprecedented ocean observations near the largest glacier of the largest ice sheet in the world: Continue Reading
Jean Laherrere has posted the following charts and comments on Bakken and World oil reserves. EIA proved reserves on Bakken (ND +Montana) plus cumulative production have changed at end : Continue Reading
BP Plc cemented its 77-year relationship with Abu Dhabi by swapping about $2.2 billion of its own shares for a stake in one of the emirate’s largest onshore oil concessions. Continue Reading
A Colombian energy company said it was involved in a new oil discovery in the U.S. waters of the Gulf of Mexico, its fifth so far. A U.S. subsidiary of Continue Reading
A $400 million loan is aimed at helping Indonesia, until recently a member of OPEC, meet its growing demand for energy, the Asian Development Bank said. A net oil importer, Continue Reading
MARACAIBO, Venezuela—Desperate and cashless Venezuelans, angry that the government hasn’t exchanged their voided bank notes as officials had pledged, on Friday rose up in protest with some scattered looting of Continue Reading
