Far above the Arctic Circle, one of the longest-running controversies in U.S. oil drilling is about to reignite. Bouyed by Donald Trump’s election, Republicans are pushing to allow oil exploration 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
They call it “Permania”. The Permian Basin of western Texas and eastern New Mexico has become the hottest region in the US shale oil industry, for drilling, for production and Continue Reading
Two groups of Church of England advisers have cautiously endorsed fracking for shale gas in the United Kingdom provided it does not conflict with climate change policy and robust regulations Continue Reading
Ukraine is about to lose its precious gas-transit business as its state-run gas giant struggles to function as the puppet of multiple geopolitical players and agendas, and it’s not likely Continue Reading
No compatible source was found for this media. Nomura Middle East CEO: Oil Heading Toward $60 Oil resumed gains after the biggest drop in more than a week as industry Continue Reading
U.S. oil on Thursday moved away from one-week lows touched the session before, with investors turning their attention to upcoming government data on U.S. inventories. Sentiment in oil markets has Continue Reading
Crude Slides on U.S. Oil Supply Predictions Oil fell to a one-week low in New York after the head of the International Energy Agency predicted a rebound in U.S. production. Continue Reading
Oil and gas discoveries around the world dropped last year to their lowest since the 1940s after companies sharply cut back in their search for new resources amid falling oil 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
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
The Organization of Petroleum Exporting Countries (OPEC) cut oil production by 221,000 barrels per day in the last month of 2016, bringing the bloc’s total output to 33.08 million bpd Continue Reading
The new January OPEC Monthly Oil Market Report is out with crude only production numbers for December 2016. All charts are in thousand barrels per day. Indonesia has left OPEC Continue Reading
OPEC signaled a falling oil supply surplus in 2017 on Wednesday as the producer group’s output declines from a record high and outside producers show positive initial signs of complying Continue Reading
OPEC’s Barkindo: ‘So Far, So Good’ on Production Cut Deal Two weeks into OPEC’s first agreement to cut production in almost a decade, its top official’s assessment is “so far, Continue Reading
There was one significant part of last year’s OPEC deal that was absent, and it may prove to be its undoing. Just weeks into the deal and days from a Continue Reading
OPEC expects demand for its own crude to fall this year but is mindful that the return of US shale could dent positive early signs on non-OPEC compliance with the 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. REUTERS/Heinz-Peter Bader World Continue Reading
Shell has signed a $210 million contract with Halliburton to drill 30 wells in Iraq’s Majnoon oil field, two oil sources said on Thursday. The agreement will double the field’s Continue Reading
With the OPEC production deal holding, at least for the moment, questions have now arisen over how prospects look for the cartel’s biggest producer. It’s been a strange few years Continue Reading
Iraq has reduced the rate of its oil exports by about 6 percent as it begins the difficult process of implementing an OPEC agreement to cut production.”I’m confident we can Continue Reading
Citing possible terrorism, Nigerian media reported Wednesday an oil pipeline was on fire less than a day after the vice president was in an oil-rich region. Nigerian newspaper Vanguard reported Continue Reading
The new year has ushered in a new round of capacity cuts as China tries to combat excess in its bloated steel and coal sectors, but the moves are a Continue Reading
Series of important warnings emerging in the oil sector this week. With several sources noting that production is taking a steep nosedive — in one particular part of the world. Continue Reading
The latest Drilling Productivity Report released by the Energy Information Administration has shown that crude oil output in the shale patch will continue rising next month, with the Permian accounting Continue Reading
Incoming President Donald Trump might quickly move to resolve the massive problem that Energy Transfer Partners has on its hands in the Dakota Access Pipeline, but the company is in Continue Reading
The Energy Department gave oil bulls a sobering reminder Tuesday: Shale oil production is rising strongly, particularly from the Permian Basin in western Texas and New Mexico. Putting an exclamation Continue Reading
Obama administration sets March date for wind energy development lease for waters off the coast of North Carolina. File Photo by Teun van den Dries/Shutterstock Thousands of acres offshore North Continue Reading
Following poor success across Europe, including Poland, Ukraine, France, the Netherlands, and Denmark, the UK now remains the last candidate province for European shale gas and oil in the near Continue Reading
The ruble is settling in a range where the Bank of Russia purchased foreign currency in 2015, but this time policy makers are looking the other way. The central bank Continue Reading
The Church of England said Wednesday it added its voice to the chorus of those taking a stand on the fledgling shale natural gas industry in the country. “As more Continue Reading
Rising global temperatures in 2016 set a record for the third year in a row, as federal climate experts rated it the warmest year world-wide since modern record keeping began. Continue Reading
The world has passed another global-warming milestone, according to new figures showing that temperatures rose to their hottest on record for the third year in a row in 2016. Global Continue Reading
Crude prices fell Wednesday, weighed down by a strong dollar and concerns that rising U.S. shale production may offset a move by major producers to cut global supply. The Wall Continue Reading
Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets that Continue Reading
Oil prices rose Tuesday after positive remarks on the supply and demand balance from the Saudi Arabian energy minister on Monday. The March contract for global crude benchmark Brent gained Continue Reading
The heads of some of the world’s biggest oil firms and automakers agreed on Tuesday to push for broader global use and bigger investments in using hydrogen to help reduce Continue Reading
Amid the ongoing struggle over oil control between the Iraqi Kurds and the Iraqi central government in Baghdad, the Iraqi central authorities have halted exports of oil from Kirkuk via Continue Reading
Tullow Oil has found more oil with a closely watched exploration well in northwest Kenya, boosting the resources in its emerging oil province which is set to feed East Africa’s Continue Reading
Saudi Aramco Chief Executive Amin Nasser said the state oil giant was working on building its oil and gas production capacity to meet future demand growth. “What we are doing Continue Reading
The world needs to invest US$25 trillion in new oil-producing capacity over the next 25 years to meet growing demand, Saudi Aramco’s chief executive Amin Nasser said at the World Continue Reading
No compatible source was found for this media. Saudi Aramco CEO: Oil-Tax Rate Would Be Reduced for IPO Saudi Arabia has promised it will reduce the overall tax rate paid Continue Reading
Mexico’s state oil company Pemex began receiving imported fuel by train at a new privately run terminal for the first time in January as companies expand storage and transportation operations Continue Reading
Shipping operations at one of three docks of Venezuela’s main crude exporting port were halted after an oil spill occurred while loading a vessel bound for India, union and shipping Continue Reading
Incoming U.S. President Donald Trump may have an unexpected ally: Venezuela’s socialist and much-criticized President Nicolas Maduro. Just days ahead of the inauguration in Washington, Maduro said he was taking Continue Reading
Crude oil production in the Asia-Pacific is falling at a unique rate, according to a report from Wood Mackenzie, with China accounting for about half of the decline, Wood Mac’s Continue Reading
While all eyes are on OPEC to see whether or not they will follow through on production cuts, there is another major source of oil supply that will have a Continue Reading
A U.S. Senate committee will grill President-elect Donald Trump’s pick to run the Department of the Interior, Congressman Ryan Zinke of Montana, during a confirmation hearing on Tuesday that is Continue Reading
The energy sector over the next few years may look markedly different than it has over the last few years. Aside from political changes and OPEC’s rebalancing efforts, the markets Continue Reading
Oil-price gains will trigger a “significant” increase in U.S. shale output as OPEC and other producers rein in supply, according to the head of the International Energy Agency. “U.S. shale-oil Continue Reading
