Did Oil Inventories Just Peak?
After a bullish-tilted weekly EIA report, crude is holding onto gains – and once again bumping its head on the top of its trading range. As OPEC cuts and rising Continue Reading
Oil To $70? Or Down To $30?
Will oil prices rise to $70 per barrel this year or fall to $30? Depends on who you ask. Oil price forecasts are always all over the map, but the Continue Reading
Five Things We Learned This Week: Back to $30 Oil?
1) People Are Talking About $30 Oil Again Oil has been wavering around $56 a barrel for months, recovering in 2016 from the plunge that sent crude down to almost Continue Reading
Iran says oil prices over $55 per barrel harmful for OPEC: Fars
Iran said on Thursday an increase in oil prices to more than $55 per barrel was not in the interest of OPEC as it would lead to a rise in Continue Reading
Saudi Arabia Says Aramco Is Worth More Than $2 Trillion
Saudi Arabia has said oil giant Saudi Aramco is worth more than $2 trillion, enough to consume Apple Inc. twice, and still have room for Google parent Alphabet Inc. The Continue Reading
Investment decision reached for Israeli gas giant
The partnership in control of Leviathan, among the largest gas fields in the world, said they reached an investment decision that envisions flows by 2019. Delek Group and its partners Continue Reading
Oil production from Kazakhstan on the rise
Production from part of Kashagan oil field in the Kazakh waters of the Caspian Sea should reach capacity by the end of the year, an operating company said. According to Continue Reading
Kurdish government changes oil export options
A major player in the oil sector of the Kurdish north of Iraq said it was re-routing exports by government orders, but that won’t impact production levels. The semiautonomous Kurdistan Continue Reading
FAR makes further progress offshore Senegal
Drilling of a fifth appraisal well into what may become one of the more promising basins off the West African coast is completed, FAR Ltd. announced. FAR is said its Continue Reading
Border-Adjustment Tax Divides Energy Sector
The linchpin of a corporate tax overhaul proposed by House Republicans would mark a massive change for the U.S. oil and gas industry and has companies frantically studying whether to Continue Reading
Oil Police expose potential Basra refinery threat
Oil Police arrested two men suspected of ties to the self-proclaimed Islamic State (IS) militant group Wednesday as they tried to enter the Shuaiba refinery complex in Basra.The men did Continue Reading
Future Giant Discoveries Could be Lurking Offshore South Africa
Future giant discoveries may be lurking in the Outeniqua Basin offshore South Africa, according to Anongporn Intawong, a team leader geologist at Spectrum. Future giant discoveries may be lurking in Continue Reading
BASF Looks to Invest in Iran’s Recently Opened Energy Sector
BASF SE is exploring options for tapping Iran’s recently opened energy market, making it the latest in a long line of German firms looking to expand into the Islamic Republic. Continue Reading
North Korea says China ‘dancing to the tune of the US’
Coal exports to China are a key source of cash for the politically isolated nation North Koreans look over coal exports in the border town of Siniuju N Korea condemns Continue Reading
Oil sold out of tanker storage in Asia as market slowly tightens
Traders are selling oil held in tankers anchored off Malaysia, Singapore and Indonesia in a sign that the production cut led by OPEC is starting to have the desired effect Continue Reading
Oil industry infighting heats up as EPA weighs biofuels rule change
Oil companies showed deepening divides on the future of the U.S. biofuels program in solicited comments from the Environmental Protection Agency (EPA) over a plan sought by some refiners to Continue Reading
U.S. Crude Exports Surge to a Record
Another week, another record for U.S. crude exports. Producers and traders shipped out 1.21 million barrels a day of U.S. crude in the week that ended February 17, the most Continue Reading
Billionaire Behind Dakota Access Pipeline ‘Underestimated’ the Power of Social Media
Billionaire Kelcy Warren, who faced months of protests over the Dakota Access oil pipeline, said his company followed every law and still fell into a “mess.” Warren “underestimated the power Continue Reading
Exxon Caves to Oil Crash With Historic Global Reserves Cut
No compatible source was found for this media. Citi’s Ed Morse Says OPEC Is Losing Its Clout Exxon Mobil Corp. disclosed the deepest reserves cut in its modern history as Continue Reading
Canada’s Fading Oil Promise Leaves U.S. Majors Struggling
Oil-sands investments in Western Canada that gobbled tens of billions of dollars over the past decade are proving an Achilles heel for some of the world’s biggest energy producers. Exxon Continue Reading
EIA Reports Minor Build In Crude Inventories, Draw In Gasoline Stocks
After three straight weeks of builds in commercial oil inventories, today, the EIA had some more bad news for traders. The authority reported a build of 600,000 barrels, a day Continue Reading
Transocean says its phone is ringing
Rig company Transocean said that, after reporting an increase in revenues for the fourth quarter, recovery for offshore drillers was evident on the horizon. Transocean reported revenues for the fourth Continue Reading
Automakers Call on E.P.A. Chief to Ease Fuel-Efficiency Standards
President Trump has vowed to roll back regulations on business, and automakers are wasting no time in pushing his administration to make good on the promise. Two lobbying groups representing Continue Reading
Coal Is Just Too Damn Expensive
President Trump is ready to start signing executive orders that roll back Obama-era regulations on climate and water pollution: While both directives will take time to implement, they will send Continue Reading
The US is transitioning into a natural gas exporter
The United States is on track to become a net exporter of gas next year, driven largely by the growth of liquefied natural gas exports, according to the U.S. Energy Continue Reading
Traders drain pricey U.S. oil storage as OPEC deal bites
Traders are turning the spigots to drain the priciest storage tanks holding U.S. crude stockpiles as strengthening markets make it unprofitable to store for future sale and cuts in global Continue Reading
Kushner, Ivanka Trump Pushed to Remove Words Critical of Climate Deal From Executive Order
WASHINGTON—At the request of President Donald Trump’s son-in-law, Jared Kushner, and his wife, Ivanka Trump, language critical of a global climate deal was struck from an executive order that Mr. Continue Reading
Is The Trump Administration About To Rescue The Russian Economy?
As oil prices continue their slow uphill climb and the global energy community reenters exploration mode, the Russian economy has much to gain from new American leadership that seems lenient Continue Reading
Oil Rides Best Rally in 2 Months on Bets OPEC Will Hit Its Goals
Oil extended gains in its longest rally since the end of December on increasing confidence that OPEC’s supply curbs will outweigh a gain in U.S. crude stockpiles. Futures in London Continue Reading
U.S. oil holds near seven-week high; OPEC upbeat on output curbs
U.S. oil prices held near seven-week highs on Wednesday after OPEC signaled optimism over its deal with other producers including Russia to curb production and clear a glut that has Continue Reading
Crude prices rise as investors bet big on oil strength
Crude futures rose for a second day on Tuesday, with data showing hedge funds are betting big across oil markets following OPEC production cuts agreed last year. U.S. West Texas Continue Reading
Goldman says global crude stocks likely to keep falling
Goldman Sachs expects global crude oil inventories to keep falling due to production cuts and strong growth in demand, although stocks are likely to rise in the United States. “We Continue Reading
Total CEO Says OPEC Needs to Prolong Cuts to Eliminate Surplus
Total SA CEO Calls U.S. Shale Oil Industry Dynamic OPEC and Russia will need to prolong their six-month deal to cut oil output if they plan to trim the global Continue Reading
Natural Gas Bulls Crushed As Prices Tank
Natural gas prices plunged to their lowest level since November on mild weather in the U.S., which has caused storage levels to decline at a much slower pace than expected. Continue Reading
This Is Where Oil Majors Expects The Next Big Efficiency Jump
The race for using high-performance computing in oil and gas reservoir simulation, management and development is on. Oil and gas supermajors are continuously pushing for higher efficiency and lower costs, Continue Reading
OPEC chief sees higher compliance with oil cut, says confidence returning
OPEC and outside producers including Russia will boost compliance with agreed oil output curbs in a bid to clear a supply glut that has weighed on prices, the group’s secretary Continue Reading
OPEC Chief Sees No U.S. Threat as Shale Production Rises
OPEC’s most senior official said he would meet U.S. shale producers next month, as he sought to allay fears his cartel could be hurt by resurgent American output and the Continue Reading
Iran to sign oil contract to sell Russia 100,000 bpd: state TV
Iran announced on Tuesday it will begin selling 100,000 barrels of oil a day to Russia within the next 15 days and receive payment half in cash and half in Continue Reading
Libya signs deal with Russia’s Rosneft
An agreement with Russian oil company Rosneft helps lay a foundation for the recovering oil sector in Libya, Libya’s top oil producer said. Meeting on the sidelines of an international Continue Reading
Saudi Aramco Weighs Offering Citizens Discounted Shares
Saudi Arabian Oil Co. , gearing up for what may be the world’s biggest initial public offering, is considering discounted shares for local investors, according to people with knowledge of Continue Reading
Rosneft Expands in Middle East With Libya and Iraq Oil Deals
Rosneft PJSC , the state-run producer headed by a close adviser of Russian President Vladimir Putin, is expanding its footprint in the Middle East by striking new oil deals with Continue Reading
Saudi Aramco Picks J.P. Morgan, HSBC, Morgan Stanley as Lead IPO Underwriters
Saudi Arabia’s state-owned energy company has told J.P. Morgan,HSBC and Morgan Stanley they will be the lead underwriters for its planned initial public offering, set to be the largest ever, Continue Reading
As Haftar Moves Closer To Russia, Will Libya Become The Next Syria?
Libya’s returning oil wealth could bring back cheap fuel, food and foreign goods in a subsidy-based system in the most optimistic scenario. But as oil prices and production rise, the Continue Reading
Rosneft signs landmark deal to buy KRG crude
In a sign that Kurdistan’s oil sector is shedding some of its legal and political risk, KRG crude will now supply the refineries of Russia’s largest oil company. A tanker Continue Reading
India’s Oil Demand Is Set To Break More Records
India continues to look for alternatives to oil imports as its auto sector, economy, and population continue to boom. India’s oil consumption growth reached a record-level 11 percent last year Continue Reading
Nigeria: Kachikwu Clarifies Nigeria’s $100 Billion Loss to Militancy in Niger Delta
The Minister of State for Petroleum, Dr. Ibe Kachikwu, has clarified the $50-$100 billion said to have been lost to the attacks of oil and gas infrastructure by the Niger Continue Reading
Colombia’s Ecopetrol reports 14% year-on-year decline in proven reserves
State-controlled Ecopetrol reported a 14% year-on-year reduction in proven reserves through December 31, a decrease that reflects three years of declining oil field investment in Colombia’s oil patch, it said Continue Reading
Driving Hyundai’s electrified Ioniq line-up; cost-effective efficiency and dynamics
The Ioniq Hybrid offers up to the highest fuel economy in the US (up to 58 mpg / 4.05 l/100 km) for a non-plug-in vehicle and the Ioniq Electric is Continue Reading
U.S. gas prices holding steady
Weak consumer demand is offsetting volatility in oil prices and leaving retail gasoline markets relatively unchanged in the United States, analysis finds. Consumer price-watcher GasBuddy.com reports a national average retail Continue Reading
‘’U.S. Oil Production To Soar By 3.5 Million Bpd Over The Next Five Years’’
Two years ago, when Saudi Arabia launched an unprecedented campaign to crush high-cost oil producers, in the process effectively putting an end to the OPEC cartel (at least until last Continue Reading