Russia’s Energy Minister Alexander Novak addresses a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, December 10, 2016. Russian Energy Minister Continue Reading
Crude prices rose, driven by signs of the market tightening after major oil producers agreed to cut output and by weakness in the U.S. dollar. U.S. crude prices settled up Continue Reading
A slight gain in the Chinese economy followed by a week of data supporting market balance sentiments lifted crude oil prices early Friday. Crude oil prices moved in volatile territory Continue Reading
The number of active oil and gas rigs in the United States increased on Friday by 35 for a total of 694 active rigs, according to oilfield services provider Baker Continue Reading
Hedge funds rushed to place bullish wagers on U.S. crude oil last week, boosting it to the highest levels since mid 2014, data showed on Friday, as prices rallied on Continue Reading
Oil was flat this week as rising U.S. shale production and a bearish inventory report continued to put pressure on WTI and Brent. Crude oil inventories rose by another 2.4 Continue Reading
No compatible source was found for this media. OPEC’s Barkindo: ‘So Far, So Good’ on Production Cut Deal Representatives of OPEC and several other major oil producers will start arriving Continue Reading
Saudi Arabian Energy Minister Khalid al-Falih said on Friday that 1.5 million of an agreed upon 1.8 million barrels per day (bpd) of oil had been taken out of the Continue Reading
Venezuela’s economy has collapsed. Unfortunately, most people mistakenly believe Venezuela’s policies created a successful economy prior to the collapse in oil prices. The truth is that Venezuela’s socialist policies held Continue Reading
For one brigadier in Iraq’s elite Counter Terrorism Service (CTS), the final stage of liberating the eastern half of Mosul was personal: he could rescue his relatives. On Wednesday, as Continue Reading
On Tuesday in Davos, all eyes were on Xi Jinping, the first Chinese president to attend the World Economic Forum’s annual meeting. His appearance came at an important moment for Continue Reading
China’s plans to create a new crude futures contract to compete with global pricing benchmarks have been shelved due to market resistance, five sources with knowledge of the matter said, Continue Reading
The U.S. gas market has tightened significantly over the last nine months as low prices have spurred strong consumption and exports while slashing drilling of new wells. The market has Continue Reading
U.S. energy companies this week added the most oil rigs in nearly four years, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut supplies Continue Reading
Last fall, the general consensus among weather forecasters was that most of the Central and Eastern United States would likely endure a colder, snowier winter than it is used to. Continue Reading
Schlumberger Ltd. is waiting for the rest of the world’s oil producers to catch up to the North American crude recovery. The world’s largest oilfield service provider sees international spending Continue Reading
U.S. oil producers, optimistic that higher crude prices are here to stay, have issued 2017 budgets that call for dramatically greater spending to tap new wells. Preliminary capital-spending plans released Continue Reading
Schlumberger Ltd. posted a loss in its latest quarter on lower revenue, but the company said energy prices and production were both poised to increase. Schlumberger and other companies in Continue Reading
U.S. President Donald Trump’s pledge to make America independent from OPEC isn’t a new refrain in Washington. His “America First Energy Plan” posted on the White House website Friday doesn’t Continue Reading
Trump campaigned on rolling back oil, gas regulations Pipelines, LNG terminals could get quicker permitting reviews Critics of biofuel mandate buoyed by Cabinet picks President Donald Trump’s inauguration Friday may Continue Reading
Aides to Donald Trump have drafted a list of environmental policy and energy-related changes that he could sign within hours after he is sworn in as U.S. President on Friday, Continue Reading
Big spending is back in the oil and gas world. With ExxonMobil unloading a $6.6 billion mega-buy in the Permian Basin of Texas this week — just a day after Continue Reading
California on Friday released a blueprint for meeting an aggressive climate-change goal: a 40% reduction in greenhouse gases by 2030, compared with 1990 levels. The plan, released by the California Continue Reading
Nomura Middle East CEO: Oil Heading Toward $60 Oil resumed gains after the biggest drop in more than a week as industry data showed U.S. crude stockpiles declined, while OPEC Continue Reading
A day after the API reported a 5.04-million-barrel decline in commercial U.S. crude oil inventories, the Energy Information Administration crushed hopes of a prolonged price recovery by reporting a build Continue Reading
The impact of the OPEC production cuts could be much more muted than many had hoped for as non-OPEC output comes roaring back in 2017. And it isn’t just from Continue Reading
Oil major BP has outline six main trends which could “shape the future” of energy. The company said energy transitions this year will look at a “dominant fuel” with gas Continue Reading
The global demand outlook for 2016 has been raised following the release of robust preliminary 4Q16 numbers. Colder weather in northern Europe provided impetus as did rapid industrially-driven Asian growth. Global oil Continue Reading
OPEC is facing headwinds with rising production from rivals, the International Energy Agency said Thursday, the latest warning that OPEC’s efforts to take barrels out of the market could backfire. Continue Reading
Recently, I gave a presentation on the future of energy to an audience of about 250 oil and gas professionals. Halfway through, I asked the carbon crowd to, “Raise your Continue Reading
Global oil stocks have already started falling, but they need to drop by another 270 million barrels so that OPEC can say that the oil market is coming to balance, Continue Reading
Oil prices rose Thursday after the International Energy Agency’s monthly report suggested global oversupply is easing. The Paris-based IEA said production from the Organization of the Petroleum Exporting Countries was Continue Reading
When OPEC and Russia meet this weekend to gauge progress on their oil-supply deal, they’ll be trying to dispel the shadow of previous unfulfilled promises. Oil prices rose 20 percent Continue Reading
No compatible source was found for this media. OPEC’s Barkindo: ‘So Far, So Good’ on Production Cut Deal Saudi Arabia’s crude exports surged to a 13 1/2-year high in November, Continue Reading
China will invest US$3 billion in the upgrade of Iran’s oil refining facilities, Iranian media reported, with the bulk of the investment going into the Abadan refinery. According to Deputy Continue Reading
Despite losing ground in Mosul, IS militants to the east have stepped up insurgent attacks, conducting deadly raids on security forces, oil infrastructure, and rural villages. Hadi al-Amiri (R), the Continue Reading
The Nigerian Military has denied reports that militants blew an oil pipeline in Delta State after Vice President Yemi Osinbajo’s visit, saying it was a bush-burning incidence that was put Continue Reading
A man works at the Cidade Angra dos Reis offshore platform at the Lula oil field, about 300 km (186.4 miles) from the coast of Rio de Janeiro, February 16, Continue Reading
Explorers in the world’s fastest-growing oil market are seeking lower taxes on crude produced domestically to encourage fresh drilling as India tries to reduce its dependence on energy imports. State-run Continue Reading
Cnooc Ltd. plans to raise capital spending for the first time since crude began its crash in 2014 as China’s biggest offshore oil and gas producer prepares for life after Continue Reading
China’s economy grew 6.8 percent in the fourth quarter from a year earlier, slightly more than expected, supported by higher government spending and record bank lending that has stoked concerns Continue Reading
Oil executives and Middle East producers are concerned that trade tensions between the United States and China risk clouding the outlook for global energy demand growth and a recovery in Continue Reading
China may be mining less coal and pumping less crude but it’s processing more raw materials than ever in its mills, refineries and smelters. Cost pressures and environmental regulation curbed Continue Reading
Demand from some of the most coveted oil buyers may slow this year because they didn’t purchase all that they could in 2016. While China’s private refiners have received their Continue Reading
Asia is gearing up to witness new refining capacity growth in at least four countries in 2017, but capacity reductions in some top consuming nations will pull down the net Continue Reading
Natural gas prices rose Thursday, flipping up from losses after data showed a larger-than-expected drain from storage last week. The U.S. Energy Information Administration said natural-gas stockpiles shrank by 243 Continue Reading
Former Texas Gov. Rick Perry regrets his call six years ago for the elimination of the federal agency that President-elect Donald Trump has tapped him to lead, according to written Continue Reading
Coal already faces tremendous competition in the U.S. from low cost natural gas, and pressure from environmentalists concerned about its pollution. The last thing the coal industry needs are more Continue Reading
Rick Perry, President-elect Donald Trump’s pick to run the U.S. Energy Department, said during his Senate confirmation hearing on Thursday that global warming caused by humans is real, but that Continue Reading
A highly acclaimed Oxford professor who’s considered an expert on energy research has thrown cold water on Norway’s hopes for a new oil era in the Arctic. Dieter Helm doesn’t Continue Reading
