Saudi Arabia, Iraq boost oil output in November: OPEC sources
The word oil is pictured on an oil bank at a recycling yard in London March 2, 2011. Saudi Arabia, the world’s top oil exporter, told the Organization of Petroleum Continue Reading
Iran seals $17 billion Boeing deal, close to Airbus order
Redmond Iran signed a $16.6 billion deal for 80 Boeing ( BA.N ) passenger jets on Sunday and was said to be close to another for dozens of Airbus ( Continue Reading
Boeing inks $16.6bn deal with Iran’s national carrier
Iran’s national carrier and Boeing have finalised their $16.6bn deal for the sale of 80 aircraft to the Islamic Republic’s airlines, paving the way for Iran Air to sign its Continue Reading
Critics ask if Tillerson can turn from corporate to national interest
ExxonMobil Chairman and CEO Rex Tillerson speaks during the 26th World Gas Conference in Paris, France, June 2, 2015. The central question facing Exxon Mobile Corp. chief executive Rex Tillerson Continue Reading
Trump says ‘nobody really knows’ if climate change is real
President-elect Donald Trump speaks during an election night rally on Nov. 9 in New York. (Evan Vucci/AP) President-elect Donald Trump said Sunday that “nobody really knows” whether climate change is Continue Reading
U.S. Shale Patch Dominates Top 10 Oil Investment Ranking
Oklahoma and Texas are the best destinations for oil and gas investment, with the two states occupying the number 1 and number 2 spots respectively in the latest ranking by Continue Reading
Rick Perry a leading candidate for U.S. energy post: source
Rick Perry, who proposed eliminating the U.S. Energy Department during his unsuccessful bid for the 2012 Republican presidential nomination, has emerged as a leading candidate to head the agency under Continue Reading
Goldman Says Saudis Wrong to Rule Out U.S. Shale Oil Rebound
Saudi Arabia is wrong to think that U.S. shale production won’t respond to higher oil prices in 2017, according to Goldman Sachs Group Inc. While crude may rise to over Continue Reading
2016 Shale Gas Reality Check
In 2014, Earth Scientist David Hughes took a hard look at the EIA ’s existing Annual Energy Outlook shale gas and tight oil forecasts and conducted his own play-by-play, in-depth Continue Reading
Critics ask if Tillerson can turn from corporate to national interest
The central question facing Exxon Mobile Corp. chief executive Rex Tillerson if he becomes U.S. secretary of state is whether a life-long oil man with close ties to Russia can Continue Reading
Russian Energy Minister Says Oil Cuts to Start in January
Russia’s oil producers have started preparations to meet the nation’s pledge to curb output as part of the “historic” pact between OPEC and 11 producers outside the group, Energy Minister Continue Reading
EIA’s Lack Of Math And Logic Skills Makes For An Interesting Investment Environment
EIA recently released the 2016 Annual Energy Outlook. I look at EIA’s past projections and compare with reality. What does this mean for an Energy Investor? Every year EIA releases Continue Reading
Oil holds gains on hopes for non-OPEC output cuts
A gas flame is seen in the desert near the Khurais oilfield, Saudi Arabia June 23, 2008. Oil prices were steady on Friday, holding around 2-percent gains from the previous Continue Reading
Oil Climbs as Saudis Show Commitment to Cut Output Before Talks
Oil advanced as Saudi Arabia was said to have informed its customers it will stand by its commitment to cut production before OPEC meets with producers from outside the group Continue Reading
Expert Commentary: The Long Road To Oil Market Balance
• WTI has traded in a narrow range this week ($52.42/$49.61) heading into tomorrow’s meeting between Russia, Azerbaijan, Kazakhstan, Oman and Mexico which could help determine whether or not OPEC Continue Reading
OPEC Output Deal Faces its First Test
Two days before OPEC ministers gathered in Vienna on Nov. 30, Iran’s oil minister passed a message to his boss, President Hassan Rouhani, people familiar with the matter said: Saudi Continue Reading
Recent OPEC agreement reflected in EIA forecast issued earlier this week
In EIA’s December Short-Term Energy Outlook (STEO), both the West Texas Intermediate (WTI) and Brent crude oil 2017 price forecasts increased by about $1 per barrel (b) from the November Continue Reading
Only two OPEC members posted production declines
Venezuela and Saudi Arabia were the only two OPEC members showing production declines, highlighting challenges ahead for a production deal, Platts reported. S&P Global Platts reported total crude oil production Continue Reading
Saudi, Iraq set to supply full contracted volumes to Asia despite OPEC deal
Saudi Arabia and Iraq are set to supply full contracted volumes of crude to several Asian refiners in January, despite commitments to cut output under a deal signed last week Continue Reading
A Major Red Flag? Chinese Oil Demand Growth Could Shrink 60% In 2017
Petchem storage Chinese growth of crude oil imports may likely shrink by more than 60 percent next year, as storage facilities are filling in and smaller refiners face more scrutiny Continue Reading
U.S. drillers add the most oil rigs since July 2015: Baker Hughes
A Baker Hughes sign is displayed outside the oil logistics company’s local office in Sherwood Park, near Edmonton, Alberta, Canada November 13, 2016. U.S. energy companies this week added the Continue Reading
Polar vortex not only culprit for frigid U.S. December
The arrival of colder temperatures this week across much of America is just the beginning of what will likely be an unusually frigid December. With help from the Arctic, the Continue Reading
U.S. Rig Counts Jump in Wake of OPEC’s Production Accord: Chart
U.S. oil and gas producers increased drilling activity the most since April 2014 after OPEC agreed to its first production cut in eight years last month. The total number of Continue Reading
Wood Mac: Mixed bag for oil and gas exploration next year
Oil and gas explorers are expected to get a little leaner next year, but for those with good financials, potentially a bit meaner, Wood Mackenzie reports. The consultant group reported Continue Reading
Texas drilling permits lower than last year
State regulators in Texas said they issued 2 percent fewer oil and gas drilling permits in November than last year, though signs of recovery are emerging. The Railroad Commission of Continue Reading
Canada’s Liberal Government, Most Provinces Set to Endorse Climate Pact
Canada’s Liberal government and the bulk of provinces are set to endorse a pact late Friday to fight climate change, even as Prime Minister Justin Trudeau tries to revive the Continue Reading
Oil and gas exploration to turn profitable next year: WoodMac report
Consultancy Wood Mackenzie has forecast a return to profitability for oil and gas exploration next year thanks to sharp cost reductions, but said drillers will avoid exploration geared toward over-supplied Continue Reading
Green Energy Firm Fights UK Fracking Plans
Green energy firm Ecotricity is challenging the fracking industry by submitting applications for its new Green Gas Mills on sites already proposed for fracking. Green energy firm Ecotricity is challenging Continue Reading
Oil Drilling Advocate To Be Trump Pick For Interior Dept.
U.S. President-elect Donald Trump will pick U.S. Representative Cathy McMorris Rodgers, a climate-change skeptic and an advocate for expanded oil and gas development, to run the Interior Department, a Trump Continue Reading
Trump team memo on climate change alarms Energy Department staff
President-elect Donald Trump’s Energy Department transition team sent the agency a memo this week asking for the names of people who have worked on climate change and the professional society Continue Reading
U.S. slated to sell $375 million of emergency reserve oil this winter
The U.S. government is slated to sell $375 million worth of crude oil from the country’s emergency reserve this winter after Congress passed a temporary spending bill on Friday that Continue Reading
Climate Change Conversations Are Targeted in Questionnaire to Energy Department
President-elect Donald J. Trump ’s transition team has circulated an unusual 74-point questionnaire at the Department of Energy that requests the names of all employees and contractors who have attended Continue Reading
The End Of The Bust? U.S. Shale Patch Could Start Hiring Soon
More than 150,000 jobs in the oil and gas sector in the U.S. have been cut since the start of the oil price crisis in mid-2014. In just the first Continue Reading
White House raises eyebrow over Rosneft deal
An $11 billion deal with a Russian oil producer, commodity trader Glencore and a Qatari sovereign fund may be under sanctions review, the White House said. Anglo-Swiss trader and mining Continue Reading
Electric vehicle market footprint growing
Europe and China are expected to dominate the consumer electric vehicle market as the footprint grows into double-digit percent, a market report finds. “Significant advances in battery technology, financial support Continue Reading
Oil Prices Firm Ahead of Non-OPEC Meeting
Oil futures firmed on Friday, consolidating gains ahead of a weekend meeting of major oil-producing countries for a deal to cut production. Brent crude, the global oil benchmark, rose 0.5% Continue Reading
Crude Rises Ahead Of Non-OPEC Meeting
The mood of crude has flipped again, with optimism rising ahead of the NOPEC meeting at the weekend. Even though doubts persist, for today, oil prices push higher. Hark, here Continue Reading
Oil Recovers but Doubts About OPEC Production Cuts Remain
Oil prices clawed back some of Wednesday’s losses to close above $50 a barrel as market participants turned their attention to a planned meeting between OPEC and non-OPEC producers to Continue Reading
Oil, Gas Exploration Spend to Fall to 12-Year Low as Prices Bite
Global spending on oil and natural gas exploration is set to fall next year to the lowest level in 12 years as the industry cuts costs and shuns more expensive Continue Reading
Only five non-OPEC producers so far attending talks to widen output cut
The OPEC logo is seen outside their headquarters in Vienna, Austria, October 24, 2016. Only five of 14 non-OPEC oil producers have agreed so far to meet the group on Continue Reading
Poll: OPEC deal will pack little punch in raising oil prices
OPEC’s landmark oil-production deal may prove effective in running down global inventories, but analysts hold little hope for much of a rise in prices, a Reuters poll showed on Thursday. Continue Reading
Oil traders see no market rebalancing until later in 2017: Kemp
Crude traders expect the oil market to begin tightening and gradually move into deficit, but the shift is not forecast to occur much before the second half of 2017. The Continue Reading
Oil Supertankers Brace for Worst Year Since 2013 on OPEC Cuts
Oil-hauling supertankers are bracing for the worst earnings year since 2013 as they become collateral damage in OPEC’s quest to trim a global glut of crude. So-called very large crude Continue Reading
OPEC Deal Raises Hopes But Not Valuations for Troubled Oil Producers
OPEC’s deal to cut oil production isn’t likely to save investors in troubled U.S. producers from seeing their stakes vanish in chapter 11, according to restructuring experts. A surprise move Continue Reading
Russia to hold additional talks before OPEC, non-OPEC meeting
Russia plans to meet with some OPEC and non-OPEC nations on Friday to discuss unresolved issues related to a planned oil-output cut before wider talks the following day in Vienna, Continue Reading
Saudi Arabia Starts Telling Refiners Oil Supply Will Be Cut
Saudi Arabia has started to tell its customers it will reduce crude shipments from January, with the curbs focused on Europe and North America while Asian refineries are so far Continue Reading
OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles
OPEC is likely to bring the oil market into balance by the middle of next year, but its production cut looks set to fall short of its stated goal of Continue Reading
Qatar Regains Deal Hunger With Purchases From Russia to U.K.
It’s not just Ivan Glasenberg who’s regained his appetite for dealmaking. Qatar, the world’s largest exporter of liquefied natural gas, is investing alongside the billionaire’s Glencore Plc in an $11 Continue Reading
OPEC Output Deal Faces its First Test
Two days before OPEC ministers gathered in Vienna on Nov. 30, Iran’s oil minister passed a message to his boss, President Hassan Rouhani, people familiar with the matter said: Saudi Continue Reading
Oil Markets Not Convinced OPEC Deal Can Kill The Glut
Offshore oil rigs There are serious questions swirling around OPEC’s production cut deal, ranging from the size of the cuts needed given that production from the cartel rose through November, Continue Reading