OPEC and other major oil producers are committed to a “high level of compliance” with their agreements to cut output, and the shared strategy will balance the market in 2017, Continue Reading
Just a week after it agreed to OPEC’s output-cut deal, Iraq is showing signs of going rogue, and instead of cutting crude exports—a logical byproduct of lowered production—it plans to Continue Reading
Saddled with debt to oil traders, Erbil remains unable to make payroll despite increased exports. Loading arms at the terminal for Iraqi crude exports at the Turkish port of Ceyhan. Continue Reading
Canadian oil sands, selling off its assets to Athabasca Oil Corp. and taking a loss of at least $500 million. The move ends Statoil’s nearly decadelong foray into oil sands Continue Reading
Shown, the El Sharara oil field in Libya in December 2014, where production has yet… Operations have restarted at two key oil fields and a connected pipeline in Western Libya Continue Reading
Iraq plans to increase crude-oil exports in January, government records show, immediately raising questions about its commitment to slashing production in line with OPEC’s landmark production agreement last month. Iraq’s Continue Reading
Demonstrations roil southern provinces in response to the former PM’s visit, highlighting destabilizing rivalries within and among Shia political blocs. Police in riot gear try to keep order as protesters Continue Reading
Kuwait is committed to cutting output by 131,000 b/d in January in line with its commitments under OPEC’s output reduction deal, oil minister Essam al-Marzouq said Thursday. That was despite Continue Reading
Fidel Castro and Hugo Chávez proclaimed a decade ago that they presided over a single country, combining Cuba’s educated workforce with Venezuela’s oil wealth to challenge U.S. power across Latin Continue Reading
Trump once claimed the concept of global warming was invented by China Canadian “guerrilla” archivists will be assisting a rushed effort to preserve US government climate data. Environmentalists, climate scientists Continue Reading
Nigerian President Muhammadu Buhari is eyeing an increase to his country’s oil production to 2.2 million bpd , the volume it had pumped before militant attacks in the Niger Delta Continue Reading
How is it that Canada could be dependent on U.S. oil production? As of 2015, 36 percent of total US crude imports come from Canada. As Canada continues to exports Continue Reading
The OPEC deal to curtail oil output and help drawn down record global oversupply may turn out to be positive for the cartel’s over-reliant-on-oil economies in so much as it Continue Reading
Renewable energy policy faces a future of uncertainty with a new fossil fuel-friendly administration set to take office, but the U.S. solar industry just marked its best quarter to date. Continue Reading
For OPEC, there are few enemies more fearsome than the tiny Oklahoma town of Cushing. With oil inventories at Cushing creeping near an all-time high, U.S. benchmark futures prices are Continue Reading
BP plc will be moving its U.S. Lower 48 onshore business headquarters from Houston to Denver, which the company believes will be an important energy hub of the future. “In Continue Reading
President-elect Donald Trump’s transition team on Wednesday disavowed a survey sent to the U.S. Department of Energy that requested the names of people working on climate change in the agency. Continue Reading
Oil retreated from the highest close since July 2015 as focus shifted to expanding U.S. crude stockpiles after OPEC and other producing nations agreed to cut output to stabilize the Continue Reading
Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially undermining Continue Reading
Oil prices firmed Tuesday, holding near more than 1-year highs, buoyed by commitments from oil producing countries to cut global production by around 2%. Brent crude, the global oil benchmark, Continue Reading
Global oil demand will rise more strongly than expected next year, although it is too soon to assess fully the impact of a joint cut in supply by the world’s Continue Reading
Global oil markets will swing from surplus to deficit in the first half of 2017 as OPEC and other producers follow through on an agreement to cut supply, according to Continue Reading
OPEC pumped at record high levels in November posing a challenge to the petroleum cartel’s… OPEC pumped at record levels in November, a top energy watchdog said Tuesday, posing a Continue Reading
The United States has decided to limit military support to Saudi Arabia’s campaign in Yemen because of concerns over widespread civilian casualties and will halt a planned arms sale to Continue Reading
Iran’s President Hassan Rouhani ordered scientists on Tuesday to start developing systems for nuclear-powered boats, in reaction to what he called the United States’ violation of a global atomic deal. Continue Reading
Abu Dhabi National Oil Company on Tuesday said it would cut crude supplies by 3-5 percent across its three export grades to meet commitments under an OPEC deal to curb Continue Reading
Saudi Arabia has transformed sentiment in the oil market by assembling an unprecedented coalition of oil producing countries to agree output cuts in 2017. Saudi officials have obtained pledges from Continue Reading
Oil prices were stable on Tuesday, supported by strong demand in Asia and a supply cut by Abu Dhabi as part of production curbs organized by OPEC and other exporters. Continue Reading
Saudi Arabia, the driver behind the OPEC/non-OPEC agreement to reduce oil production to eliminate a global glut, plans to reduce supplies to customers in January based on requests for shipments, Continue Reading
Gazprom Neft PJSC signed an agreement with Iran’s state oil company to study the potential for oil production from two fields, becoming at least the third Russian energy producer in Continue Reading
Iran and Russia tightened their embrace in the energy sector through an agreement to study the prospects for oil fields near the Iraqi border, directors said. Directors from the National Continue Reading
Iranian President Hassan Rouhani on Tuesday ordered the development of a nuclear propulsion system for ships, describing the move as a response to the recent extension of sanctions against the Continue Reading
Iran’s crude oil exports in December are set to fall 8 percent from November to a five-month low, a source with knowledge of its preliminary tanker schedule said, as lower Continue Reading
Saudi Arabian Oil Co. signed contracts with U.S. companies to build dozens of oil rigs over 10 years as the kingdom builds for the long-term future of its most prized Continue Reading
Saudi Arabia, spearheading OPEC’s quest to eliminate a crude glut, will cut the amount of oil it allocates to one European refining company by about 20 percent, a person with Continue Reading
The Bible’s book of Galatians, VI teaches, «as you sow, so shall you reap». And for Saudi Arabia, which has overtly and covertly supported rebellions in Libya, Syria, Iraq, Yemen, Continue Reading
Venezuelans desperately rushed to banks Tuesday to dump cash after the government announced it is eliminating the largest bank note in circulation to combat contraband in a country whipsawed by Continue Reading
Nigeria cut its 2017 growth forecast by half a percentage point as the ongoing economic slump slows output, the Budget and National Planning Minister Udo Udoma said. West Africa’s biggest Continue Reading
Lining up from dawn with backpacks and plastic bags full of cash, Venezuelans flocked to banks across the nation on Tuesday to ditch 100-bolivar bills after President Nicolas Maduro’s surprise Continue Reading
China’s crude production rebounded from the lowest in more than seven years after prices rallied on speculation OPEC would agree to curb output, a jump seen unable to overcome a Continue Reading
Growth for energy-hungry Asian economies is starting to level off as a slowdown in India drags on regional momentum, a regional lender said. The Asian Development Bank trimmed its outlook Continue Reading
When it comes to China’s coal production, is it more important that output in November recorded yet another decline year-on-year, or that it rose for a second straight month? The Continue Reading
China Petroleum & Chemical Corp. has revived plans for an initial public offering of its gas-station and convenience-store unit, according to several people familiar with the matter, a deal that Continue Reading
Beijing’s lawmakers are considering listing smog as a meteorological disaster in the drafting of an amendment, but the move has been questioned as smog is not seen as naturally occurring. Continue Reading
The U.S. Energy Department said on Tuesday it will not comply with a request from President-elect Donald Trump’s Energy Department transition team for the names of people who have worked Continue Reading
President-elect Donald Trump’s plan to put a supporter of the Keystone XL pipeline into a crucial decision-making position may give the controversial pipeline a leg up. If approved as Secretary Continue Reading
U.S. shale oil production is set to rise next year following the rally in prices since OPEC’s Nov. 30 meeting in Vienna, according to the International Energy Agency, which had Continue Reading
President-elect Donald Trump’s selection of Rex Tillerson as his secretary of state may accelerate a planned leadership transition at Exxon Mobil Corp., placing a new chief executive atop the oil Continue Reading
Fracking can affect drinking water supplies in certain circumstances, the Obama administration said in a long-awaited report issued Tuesday, leaving open the possibility of more widespread impacts that it says Continue Reading
President-elect Donald Trump’s plan to roll back the Obama administration’s signature proposal for reducing greenhouse gas emissions will be a boon to creditors of Peabody Energy Corp., according to bondholders Continue Reading
