Large Rig Count Gains Rock Oil Markets
The number of active oil and gas rigs in the United States increased on Friday by 18 for a total of 712 active rigs, according to oilfield services provider Baker Continue Reading
Energy pipelines back in investor favor after Trump orders
Investors have rushed back into North American pipelines after U.S. President Donald Trump revived growth prospects in a sector that struggled to cope with a two-year oil price slump and Continue Reading
Border tax ideas roil oil markets, favor Gulf Coast refiners
As with many industries now fretting over the uncertain future of U.S. trade policy, the oil business is sizing up the potential impact of the various protectionist measures being bandied Continue Reading
Oil Shipments Show That OPEC Is Sticking to Its Cuts
No compatible source was found for this media. Are Producers Complying With OPEC’s Output Cuts? Oil supplies from OPEC are plunging this month as the group implements production cuts aimed Continue Reading
Canada Energy East pipeline review to restart under current regulator
A review of TransCanada Corp’s proposed Energy East pipeline will start again from the beginning, Canada’s National Energy Board (NEB) regulator said on Friday, voiding all decisions from the project’s Continue Reading
Trump Adviser Calling for Overhaul of ‘Junk Science’ at EPA
A former adviser to President Donald Trump’s Environmental Protection Agency transition team called for shrinking the regulator and overhauling the way it uses science to set policy. “They’ve really gotten Continue Reading
Regulator Voids TransCanada Energy East Project Decisions
Canada’s lead pipeline regulator has voided past decisions on TransCanada Corp. ’s application for its proposed Energy East pipeline, forcing the company to start the hearing process from the beginning Continue Reading
Chevron’s First Loss in Decades Signals Hard Time for Giants
Chevron Corp. posted its first annual loss since at least 1980 as the world’s biggest oil companies struggle to emerge from the worst collapse in a generation. Investors punished the Continue Reading
U.S. Gas May Be One Trade That Survives Trump’s Mexico Clash
U.S. Stands to Suffer in Border War With Mexico It could take more than a political standoff between President Donald Trump and Mexico to keep U.S. shale gas from flowing Continue Reading
Both sides of the border praise Keystone XL
U.S. and Canadian trade groups said building the Keystone XL oil pipeline to southern U.S. ports was critical for the region’s energy infrastructure. Pipeline company TransCanada announced it re-submitted an Continue Reading
U.S. Oil-Rig Count Climbs by 15, Baker Hughes Says
The number of rigs drilling for oil in the U.S. rose by 15 in the past week to 566, according to oil-field services company Baker Hughes Inc. The U.S. oil-rig Continue Reading
U.S. Shale Won’t Pilfer OPEC, Russian Markets, Former Energy Minister Says
A former Russian energy minister on Friday dismissed concerns U.S. shale oil companies may try to use production cuts by Russia and nations in the Middle East to swoop in Continue Reading
Chevron’s Q4 Earnings Miss Estimates By A Mile
Chevron Corporation ( NYSE:CVX ) reported on Friday earnings of US$0.22 per share for the fourth quarter, compared with a loss of US$0.31 per share for the fourth quarter of Continue Reading
Oil Heads for Second Weekly Gain as OPEC Continues Output Cuts
Oil headed for a second weekly increase as OPEC and other producing nations continued with output cuts to reduce bloated global inventories and stabilize the market. Front-month futures rose 0.4 Continue Reading
Oil prices stable as U.S. output gains offset OPEC-led cuts
Oil prices were stable on Friday, with rising crude output from the United States offsetting efforts by OPEC and other producers to prop up the market by cutting supplies. Brent Continue Reading
Oil Climbs Despite Higher U.S. Inventories
Oil futures rose Thursday, as traders shrugged off another big jump in U.S. oil inventories and remained focused on promised production cuts. U.S. crude futures gained $1.03, or 1.95%, to Continue Reading
Baker Hughes says only higher oil prices will spur international spending
Oilfield services provider Baker Hughes Inc, which is being acquired by General Electric Co, said crude oil prices would need to rise by roughly another 15 percent to spur producers Continue Reading
Oil oversupply double world’s needs for 50 years
The world has access to more than twice as much oil as it will need between now and 2050, which will dampen the long-term outlook for prices, according to BP. Continue Reading
BP: Global Energy Demand to Grow by a Third
Global energy demand will grow by around a third, driven by a burgeoning Asian middle-class, according to BP’s latest energy outlook. “Global demand grows by around a third in the Continue Reading
Is The Oil Crisis Over? Oil Majors Report Positive Cash Flow
Rising oil prices and spending cuts over the past two to three years have improved the cash flow position for many of the oil majors, lessening the prospects of a Continue Reading
Fires Spark a Double Bonanza for Oil Refiners
Oil refiners from Japan to the U.S. are benefiting from being forced by fires to make less fuel. A slew of blazes at plants across the globe is shrinking supplies Continue Reading
Lebanon to Auction Energy Rights in Waters Contested by Israel
Lebanon wants to auction energy rights to areas in the Mediterranean Sea contested by neighboring Israel and will invite more companies to qualify for bidding next month. The new bidders Continue Reading
Saudi Aramco Hires Firm to Assess Oil Reserves Before IPO
Saudi Arabia’s state oil company has hired an energy consultancy to assess its reserves of crude oil, people familiar with the matter said, opening a window onto a closely guarded Continue Reading
Baker Hughes Is Busy Drilling in Middle East Even as OPEC Cuts
OPEC production cuts haven’t slowed the search for more oil in the Middle East. Baker Hughes Inc., which will soon be the world’s second-largest oil services provider, called the Middle Continue Reading
Exclusive: Millions of barrels of Venezuelan oil stuck at sea in dirty tankers
More than 4 million barrels of Venezuelan crude and fuels are sitting in tankers anchored in the Caribbean sea, unable to reach their final destination because state-run PDVSA cannot pay Continue Reading
China’s Oil Majors Set To Lift CAPEX For First Time In Years
China’s oil majors are expected to pump up spending in 2017 for the first time in years, scrambling to squeeze more barrels of crude out of ageing domestic wells in Continue Reading
Toshiba reckoning looms with chip decision, nuclear hole unresolved
Toshiba Corp faces a day of reckoning on Friday, when it is expected to offer an initial estimate of the multibillion-dollar charge it must take on its U.S. nuclear business, Continue Reading
U.S. EPA aims to end freeze on contracts, grants on Friday
The U.S. Environmental Protection Agency has told several lawmakers it aims to end its freeze on grants and contracts late Friday, congressional aides said. The freeze had led to widespread Continue Reading
Trump Wants to Downplay Global Warming. Louisiana Won’t Let Him
Sea-level rise threatens the future of homes and businesses in Plaquemines Parish and surrounding coastal areas. On a recent morning in Baton Rouge, a thousand miles from where Senate Democrats Continue Reading
Baker Hughes still struggling, but strains easing
Oilfield services company Baker Hughes reported mixed results with a small quarterly loss balancing against substantial cost reductions. Baker Hughes, which provides support for the exploration and production side of Continue Reading
Exxon appoints climate steward to board of directors
As it faces pressure over its environmental legacy, Exxon Mobil announced it appointed a new member to its board with strong climate credentials. The company announced the appointment of Susan Continue Reading
Natural Gas Prices Rise After Storage Levels Remain Low
Natural gas prices climbed Thursday after weekly data showed natural gas storage levels remained low despite mild weather. Natural gas for February delivery gained 5 cents, or 1.5%, to settle Continue Reading
Corporate America split over radical Republican import tax plan
Dozens of US exporters including GE and Boeing are squaring off against Walmart and other retailers as a radical Republican plan to tax imports divides the giants of corporate America. Continue Reading
Keystone XL Pipeline: A New Opening, but What Lies Ahead?
In his first days in office, President Trump reversed the government’s position on a highly contentious energy project, reviving the Keystone XL , a pipeline that would link oil producers Continue Reading
Strategic Petroleum Reserve sales expected to start this month
Yesterday the U.S. Department of Energy’s (DOE) Office of Fossil Energy awarded contracts for the first of several sales of crude oil from the Strategic Petroleum Reserve (SPR). A Continuing Continue Reading
Proppacalypse Now: Frac Sand Demand On Fire in 2017
With E&Ps finding that more sand downhole makes increases production, demand for frac sand is expected to double previous US peak to 240 billion pounds. Editor’s Note: This is the Continue Reading
Red tape chokes off drilling on Native American reservations
When the U.S. oil boom hit North Dakota a decade ago, wells sprang up quickly on the edges of the Fort Berthold Indian Reservation, an expanse of prairie and rolling Continue Reading
TransCanada re-submits application for Keystone XL pipeline
TransCanada Corp said on Thursday it submitted a presidential permit application to the U.S. Department of State for the approval of the Keystone XL pipeline. The announcement comes two days Continue Reading
Trump’s 20% Import Tax May Be Another Gift for Canadian Oil
Wall Dispute ‘Politically Explosive’ for Mexico U.S. President Donald Trump’s controversial 20 percent tax on imports from Mexico to pay for a border wall would come as a second gift Continue Reading
Leaner and Meaner After The Crash, Oil Sands Industry Expands
This time last year, businesses operating in the oil sands of Alberta seemed pretty much done for. Canadian crude sold for less than US$20, and there was no chance of Continue Reading
Russia Makes A Move On Asian Oil Markets As OPEC Cuts
Oil prices have been struggling to rise beyond the low $50s per barrel. Not helped by news this week that Libya’s production has hit a 3-year high at 715,000 barrels Continue Reading
Antarctic Tipping Points for a Multi-Metre Sea Level Rise
The Amundsen Sea sector of the West Antarctic Ice Sheet has most likely been destabilized and ice retreat is unstoppable for the current conditions. No further acceleration in climate change Continue Reading
Oil prices rise on weakening dollar, but plentiful supplies cap gains
Oil prices rose on Thursday, driven up by a weakening dollar, but gains were capped by plentiful supplies and inventories despite an effort by OPEC and other producers to cut Continue Reading
Oil Price Meltdown – Is Trump Setting The Oil Markets Up For Another Bust?
President Donald Trump signed several executive orders this week intended to juice the American energy sector, calling for expedited environmental reviews and the advancement of the Keystone XL and Dakota Continue Reading
Crude Holds Steady After Significant Gasoline Build
Today’s EIA report has left oil prices flat-footed, as crude inventories were in line with consensus, while a(nother) gargantuan build to gasoline stocks has not been enough to drag the Continue Reading
Oil prices pulled between bulls and bears
Crude oil prices moved from a bearish to a bullish sentiment on Wednesday as the market faces competing production trends between OPEC and North America. Crude oil prices have moved Continue Reading
Oil Supermajors’ Debt From the Crude Collapse May Have Peaked
Surging debt dogged the world’s largest oil companies during crude’s collapse. Now, sweeping cost cuts and rising prices have combined to lessen the need to borrow. Since prices began to Continue Reading
Libya’s oil sector may be opening to foreigners
Libya plans to start opening the doors to foreign investors that may be ready to step back into the country’s oil sector, a national oil company announced. Mustafa Sanalla, the Continue Reading
OPEC cuts will not impact Saudi oil supply to Japan: Saudi official
Crude supplies to Japan from its biggest supplier Saudi Arabia will not be impacted by last year’s agreement between OPEC and non-OPEC countries to cut output, a senior official of Continue Reading
Economic Recovery in Nigeria Hobbled by Oil, Currency Policy
Nigeria’s economy may struggle to rebound from its worst slump in 25 years unless President Muhammadu Buhari can end an armed conflict in the nation’s oil-producing region and fix a Continue Reading