Trump Signs Memoranda on Keystone, Dakota Access The Canadian dollar surged after U.S. President Donald Trump moved to advance the construction of the Keystone XL pipeline, which would enable the Continue Reading
The Trump administration has instituted a media blackout at the Environmental Protection Agency and barred staff from awarding any new contracts or grants, part of a broader communications clampdown within Continue Reading
Saudi Arabia’s energy minister has predicted production cuts by OPEC and non-OPEC countries will reduce global oil inventories by 300 million barrels by the middle of 2017. Six months of Continue Reading
More than a month after Russia announced one of its biggest privatizations since the 1990s, selling a 19.5 percent stake in its giant oil company Rosneft, it still isn’t possible Continue Reading
European lenders will be among the world leaders in supporting efforts to address the impact of climate change in an era of naysayers, the EIB president said. The World Meteorological Continue Reading
European regulators may be standing in the way of their own regional energy security with their stance against a gas pipeline, Russia’s Gazprom said. Viktor Zubkov , the chairman of Continue Reading
Russia is the gas supplier of choice for European markets and will remain the most cost-effective and reliable source of gas in Europe, Alexander Medvedev, Gazprom’s deputy CEO, said Tuesday. Continue Reading
No difficult economic terms, no tough charts, just simple math. 1 – The worlds population of under 40 year olds (excluding Africa) has essentially peaked (chart below…bars represent 0-40yr/old population, 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
Crude is starting the week by charging lower, as supportive rhetoric from OPEC over the weekend has done little to allay fears of ongoing strong supply this year – especially Continue Reading
Oil prices fell Monday on worries over a potential resurgence of U.S. shale production despite more confidence at OPEC that last year’s agreement to lower production is holding. Light, sweet Continue Reading
Oil fell for the first time in three days after U.S. drillers added the most rigs in more than three years, making it difficult for OPEC to drain global oversupply. Continue Reading
Last week the IEA warned that rising non-OPEC production could put an end to the OPEC-fueled price rally that began in late November after the cartel’s agreement to cut production. Continue Reading
Iraq’s oil minister said on Monday that most oil majors working on its territory were participating in oil output reductions agreed as part of the deal between OPEC and non-OPEC Continue Reading
Add Southern Green Canyon and Mars Blend to the growing list of American crude that’s challenging OPEC’s dominance in the world’s biggest oil market. Cargoes of the two varieties produced Continue Reading
Royal Dutch Shell said its move to sell off its share in a petrochemical joint venture with a Saudi partner is part of its effort to retool its regional focus. Continue Reading
Amid speculation whether Iraq would really play along with the OPEC production cuts, the oil minister of the cartel’s no.2 producer said on Monday that the country had already cut Continue Reading
After an electrical failure at the Sarir oilfield caused by a fire at a substation, Libya’s oil production has fallen by 60,000 barrels per day , National Oil Corp. head Continue Reading
Australian oil and gas explorer FAR Ltd., which has a strong African footprint, said new drilling started in a survey of a bright spot off the coast of Senegal. FAR Continue Reading
Halliburton Co.’s return to profitability in North America wasn’t enough to satisfy investors hungry for faster growth in its biggest market. The world’s top provider of fracking services failed to Continue Reading
Decoupling the U.S. economy from the renewable energy sector might not work as designed, a column in China’s official Xinhua News Agency read. U.S. President Donald Trump put the fossil Continue Reading
The Texas oil and gas industry stabilized during the latter half of last year, though there are secondary pressures remaining, an economist said. Energy executives responding to a survey from Continue Reading
Canada’s PM Justin Trudeau sparked outrage earlier this month by saying the Alberta oil sands need to be “phased out”. Because the oil sands industry is the third-biggest employer in Continue Reading
BP plc made another step towards its goal of adding 800,000 barrels of new production by 2020 with the start of production in December from the Thunder Horse South Expansion Continue Reading
Halliburton Co, the world’s No. 2 oilfield services provider, said its revenue growth this year would meet or outpace the increase in the number of drilling rigs in North America. Continue Reading
Natural gas prices averaged a little more than $2.50 per mmBtu (million British Thermal Units) in 2016. Those days are over. Prices will average at least $3.50 to $4.00 in Continue Reading
Despite oil prices nestled in the $50s for the last few weeks, it’s not enough to stop the cratering of the oilfield services sector this year, some analysts forecast. Editor’s Continue Reading
Russia overtook Saudi Arabia in 2016 to became China’s biggest crude oil supplier for the first year ever, customs data showed on Monday, boosted by robust demand from independent Chinese Continue Reading
Gazprom PJSC, the world’s biggest natural gas producer, is considering asset sales, freezing dividends and increasing its borrowing as export earnings wane, according to its three-year budget. The state-controlled company Continue Reading
Untethering the ruble helped Russia ride out the biggest oil downturn in a generation. But it’s left the world’s biggest energy exporter vulnerable to greater volatility in crude prices as Continue Reading
It’s now clear to nearly everyone that U.S. President Trump intends to seek warmer U.S. relations with Russia, while putting China and Iran relations in the deep freezer. Trump has Continue Reading
Russia last year overtook Saudi Arabia as China’s biggest supplier of crude oil thanks in large part to increased demand from independent refineries, popularly called teapots. This is what statistics Continue Reading
Hedge funds are showing they have some faith in OPEC. Their bets on rising West Texas Intermediate crude prices reached the highest since June 2014 as the Organization of Petroleum Continue Reading
The world’s oil producers are counting on a production cut to boost crude prices, but a slowdown in stockpiling by China’s and India’s governments could offer obstacles to that plan. Continue Reading
OPEC and non-OPEC producers left their meeting in Vienna Sunday claiming 100% commitment with plans to cut output, but market watchers will have to wait a little longer for hard Continue Reading
OPEC’s two biggest suppliers to the U.S. shrugged off a vow by President Donald Trump to end dependence on the group’s oil, saying the world’s biggest economy would continue to Continue Reading
A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen before a news conference at OPEC’s headquarters in Vienna, Austria December 10, 2016. A committee of Continue Reading
Compliance is great — it’s been really fantastic,” Al-Falih said Sunday. “Based on everything I know, I think it’s been one of the best agreements we’ve had for a long Continue Reading
The government of Iraqi Kurdistan has paid international oil companies for the first time in seven weeks, as rising crude prices give a much-needed boost to the region’s coffers. DNO Continue Reading
Saudi Basic Industries Corp. agreed to buy out Royal Dutch Shell Plc ’s 50 percent stake in a petrochemical joint venture for $820 million, marking the third project with Saudi Continue Reading
When OPEC decided not to cap output in 2014, flooding the market with oil, it was trying to drive higher-cost producers – most notably U.S. shale – out of profitability Continue Reading
Bomb attacks last week halted pumping operations along Colombia’s second most important oil pipeline, the Cano-Limon Covenas, state oil company Ecopetrol said on Sunday. The company did not say who Continue Reading
Russia overtook Saudi Arabia as China’s top oil supplier last year for the first time ever amid the ongoing battle for market share in the world’s biggest energy market. Russia Continue Reading
Reading “Nuclear Power Sounds the Retreat” (Business & Finance, Jan. 10), I was reminded of Paul Valéry’s observation that a difficulty can be a light. The coming closure of Indian Continue Reading
President Donald Trump made a lot of campaign promises about a new oil and gas renaissance in the US, but there remain factors well beyond his control that impact commodity-based Continue Reading
Far above the Arctic Circle, one of the longest-running controversies in US oil drilling is about to reignite. (Bloomberg) — Far above the Arctic Circle, one of the longest-running controversies Continue Reading
Shortly after new U.S. President Donald Trump was inaugurated, the White House website published the America First Energy Plan, which has aggravated the anxiety and criticism concerning where Trump will Continue Reading
President Donald Trump told the CIA on Saturday that the so-called Islamic State probably would never have existed if the United States had seized Iraq’s oilfields, a claim that flies Continue Reading
When you hear the words high tech, you probably imagine a smartphone, a driverless car, maybe even a spaceship. Having been in the oil and natural gas business for 36 Continue Reading
The current fashionable theme in energy is ‘peak oil demand’ and the accompanying possible stranding of fossil fuel resources, with the resulting damage to the equity value of producing companies. Continue Reading
