Fitch Ratings Ltd. revised the outlook on Nigeria to negative from stable over concerns that a lack of foreign exchange will hamper the economy, and affirmed the West African nation’s Continue Reading
The waiting time for non-booked Panamax-class vessels on the Panama Canal is about six days, a Panama Canal Authority manager said Wednesday. “Neopanamax slots are almost 100% sold for the Continue Reading
President Donald Trump on Tuesday invited the promoter of the Keystone XL pipeline to re-submit its application for a permit and promised an expeditious review. But Trump’s memorandum on Keystone Continue Reading
U.S. East Coast crude stocks rose by 3.4 million barrels last week to 17.7 million barrels, the biggest weekly rise since 1998, data from the U.S. Energy Information Administration showed Continue Reading
As the Trump administration moves to push forward the Dakota Access and Keystone XL pipelines, environmental groups are gearing up for local fights. On Tuesday, Trump invited TransCanada Corp. to Continue Reading
Emerging U.S. shale player Halcon Resources said it spent more than $700 million to shift its priorities in its Texas operations. The company said it spent $705 million to acquire Continue Reading
President Donald Trump moved to fulfill one of his campaign promises on Tuesday, signing an executive order to revive the Keystone XL and Dakota Access Pipelines. The former had been Continue Reading
Energy Transfer Partners LP got a boost on Tuesday when President Donald Trump threw his weight behind its controversial Dakota Access oil pipeline. While rival TransCanada Corp. promptly commented on Continue Reading
While President Donald Trump works to advance two controversial oil pipelines — Dakota Access and Keystone XL, a war’s being fought in Washington over a whole other set of lines: Continue Reading
ExxonMobil has appointed a leading atmospheric scientist to its board as it bolsters its response to concerns about climate change. Susan Avery, a former director of the Woods Hole Oceanographic Continue Reading
If there is such a thing as unwelcome good news, President Trump may have handed some to Prime Minister Justin Trudeau of Canada on Tuesday when he revived a cross-border Continue Reading
The Permian shale formation has been drawing a lot of attention recently, and it’s more likely than not to continue drawing even more in the immediate future, now that it Continue Reading
Despite the recovery of the U.S. oil patch in recent months, the crude oil price crash in 2015 and 2016 has hit the economies of the energy producing states. Six Continue Reading
Hess plans to triple its rig count in the Bakken Shale by the end of 2017 from two rigs to six and forecasts the company’s production in the play will Continue Reading
During boom, headcounts soared as “we got fat and bloated” No compatible source was found for this media. How Iron Roughnecks Are Taking Over Oil Rigs The robot on an Continue Reading
Global oil demand will keep growing into the 2040s due to higher consumption of plastic goods even as the electric vehicle fleet expands rapidly and technology revolutionizes transport, BP said Continue Reading
Oil Demand as a Test of Market’s Lower Limits Oil demand growth will slow and supplies will remain abundant in the coming decades, meaning producers in the Middle East, Russia Continue Reading
Europe is poised to receive the most Iranian crude in about five years this month in a sign that the Persian Gulf nation may be regaining its share of a Continue Reading
The world is facing a long-term oil glut as producers scramble to exploit reserves before fossil fuel demand goes into decline, according to a BP assessment that suggests that oil Continue Reading
The Trans-Adriatic Pipeline is a key element of Azerbaijan’s efforts to export its greatest source of wealth, its Caspian Sea natural gas deposits, to European markets. It is also a Continue Reading
On 30 November 2016, the European Commission officially released its “Clean Energy for All Europeans” package, also known as “Winter Package” i.e., moving the EU to meet its climate change Continue Reading
U.S. crude oil inventories increased by 2.93 million barrels this week, according to this week’s American Petroleum Institute (API) inventory report published on Tuesday afternoon, compounded by larger than expected Continue Reading
Oil prices edged up on Monday, supported by statements from oil producers over the weekend that an output cut was being successfully implemented, but markets were held back by a Continue Reading
Oil prices remain flat as markets see the tremendous rig count rise in the U.S. as a strong cap on a noteworthy oil price recovery. (Click to enlarge) Chart of Continue Reading
Saudi Arabian Oil Co., or Saudi Aramco, has given up plans to partner Malaysia’s national oil company for an up to 89 billion ringgit ($20.1 billion) refining and petrochemicals project Continue Reading
Iran has been raising eyebrows with its unwavering determination to put its energy industry back on its feet since most Western sanctions against Tehran were lifted last year, and its Continue Reading
Saudi Arabia’s rift with Egypt is spiraling out of control, with major strategic ramifications for both countries, as well as for the Yemen conflict and other Red Sea security challenges. Continue Reading
Saudi Arabia has issued a warning to local organizations that the Shamoon virus that had hit state-held oil giant Saudi Aramco in 2012 has resurfaced in a new variant, Reuters Continue Reading
OPEC Cuts Won’t Debt Global Inventories Libya is pumping 715,000 barrels a day of oil, the most since 2014, and is on track to keep boosting output this year as Continue Reading
Libya intends to reopen its oil sector to new foreign investments, its state-run oil company’s chief said Tuesday, a move that would give oil companies the opportunity to develop the Continue Reading
Despite some suggestions that oil prices will level off at around $60 in 2017, since the initial surge of the OPEC production deal prices have barely nudged above $53. Over Continue Reading
General Electric Co ( GE.N ) has proposed investing in Nigeria’s oil refineries, potentially convening a consortium of companies to improve capacity at the run-down facilities. GE’s plan and similar Continue Reading
The Export-Import Bank of China is lending Angola as much as $600 million for the construction of a deep-sea port in the northern enclave of Cabinda, according to Jose Filomeno Continue Reading
Oil Reaches Mid-$60s in Months Crude oil prices, hovering around $55 a barrel since early December, will climb by about $10 in the coming months as OPEC-led measures to curb Continue Reading
PetroChina Co., the country’s biggest listed oil and gas producer, said full-year net income in 2016 fell by as much as 80 percent, putting it on pace to report a Continue Reading
China has opened a challenging chapter in its pollution battle, installing electric heaters in village homes near Beijing to cut winter coal-burning, but stoking discontent about rising power bills. The Continue Reading
Much focus is on how China’s capital outflows will impact the world’s biggest pile of foreign-exchange reserves, but another issue in need of attention here is the rally in crude, Continue Reading
Reporting a profit might not be enough Thursday for Baker Hughes Inc., after its two larger rivals failed to impress investors with anemic sales growth. Schlumberger Ltd.’s adjusted earnings surpassed Continue Reading
U.S. shale has now rebounded to a solid financial equilibrium that it makes sense for companies to begin investing in drilling again. The International Energy Agency (IEA) expects U.S. shale Continue Reading
President Donald Trump signed five separate orders Tuesday, including two aimed at speeding construction of the Keystone XL and Dakota Access pipelines and one which could lead to a new Continue Reading
President Donald Trump is taking his ‘America First’ energy plan from the campaign trail to the White House website, vowing to achieve energy independence from OPEC and any nations hostile Continue Reading
“My God, this is going to be refreshing,” Kelcy Warren, the Texas billionaire behind the controversial Dakota Access pipeline, said days after Donald Trump swept to victory. As the industry Continue Reading
President Donald Trump’s decision to revive TransCanada Corp.’ s Keystone XL pipeline may herald a new era of pipeline abundance for Canadian oil producers after years of bottlenecks. The U.S. Continue Reading
The Permian Basin land rush is spreading to oil and gas pipelines. Plains All American Pipeline LP said it will expand its crude oil gathering system in America’s hottest shale Continue Reading
BHP Billiton Ltd. , the largest overseas investor in U.S. shale, boosted spending on its onshore oil and gas division as rising prices lure drillers to add rigs and spur Continue Reading
As the Trump administration moves to push forward the Dakota Access and Keystone XL pipelines, environmental groups are gearing up for local fights. On Tuesday, Trump invited TransCanada Corp. to Continue Reading
U.S. President Donald Trump’s decisions to get two stalled pipeline projects moving again, to promote shale oil and gas and to remove references to climate change on the White House’s Continue Reading
U.S. President Donald Trump plans to sign two executive actions on Tuesday to advance construction of the Keystone XL and Dakota Access pipelines, an administration official told Reuters. The move Continue Reading
In the snowy prairies of Western Canada, not even temperatures below -40 degrees have stopped Stampede Drilling Ltd.’s 60 recently rehired workers from manning the oil-service provider’s rigs after a Continue Reading
President Donald Trump has dealt global oil markets a major case of whiplash. After piling into bets that the benchmark prices for crude oil traded in New York and London Continue Reading
