Gasoline Glut in New York Has Traders Sending Cargoes Abroad
The biggest gasoline market in the U.S. is bursting at the seams. Traders are lining up to export gasoline and diesel from New York Harbor, an area that normally relies Continue Reading
Worst Gasoline Glut in 27 Years Could Be Oil Rally’s Nemesis
A gasoline glut brought on by drivers buying less at filling stations is emerging as one of the biggest threats to the yearlong oil-price rally. U.S. gasoline consumption plummeted last Continue Reading
Exclusive: GM plans to build, test thousands of self-driving Bolts in 2018
General Motors Co plans to deploy thousands of self-driving electric cars in test fleets in partnership with ride-sharing affiliate Lyft Inc, beginning in 2018, two sources familiar with the automaker’s Continue Reading
Senate Confirms Scott Pruitt as E.P.A. Head
The Senate confirmed Scott Pruitt on Friday to run the Environmental Protection Agency , putting a seasoned legal opponent of the agency at the helm of President Trump’s efforts to Continue Reading
U.S. Rig Count Rises As Crude Inventory Levels Hit Record High
The number of active oil and gas rigs in the United States increased again on Friday by 10. Both benchmarks were trading down earlier on Friday under heavy pressure from Continue Reading
U.S. shale oil braces for the unfamiliar in 2017: inflation
U.S. shale producers are facing their first production cost increase in five years in 2017 as industry activity picks up and energy service providers hike fees to take a bigger Continue Reading
A Push for Diesel Leaves London Gasping Amid Record Pollution
Every winter, as if on cue, the coughing begins. As soon as the weather turns cold, Tara Carey, an international aid worker living in London, ritually places cough syrup on Continue Reading
Vladimir Putin: Clear signs of Russian economic growth
As oil prices stabilize in the wake of an OPEC-led production deal, Russian President Vladimir Putin said signs of economic strength are becoming clear. The president sat with his top Continue Reading
Peak Supermajors
Hey everybody, Last Sunday I put together a quick presentation on the most recent oil & gas production data for the “supermajors” (Shell, Total, BP, Chevron, ExxonMobil): Introduction Today I Continue Reading
Oil Slips as U.S. Crude Stocks Rise
Crude futures eased on Friday, caught between larger-than-expected growth in U.S. crude stocks and reports that the Organization of the Petroleum Exporting Countries could consider extending its production cuts beyond Continue Reading
Record High Oil Inventories Crush Hopes For $70 Oil
Another week brings yet more signs that the highly-anticipated oil market “balance” will not occur in the immediate future. Heading into 2017, there was a broad consensus that global oil Continue Reading
Oil Gains on Possible Extension to Production Cuts
U.S. oil prices edged higher Thursday as growing U.S. inventories were offset by reports that the Organization of the Petroleum Exporting Countries was prepared to consider extending supply cuts. Light, Continue Reading
Oil prices steady on OPEC cuts, but record U.S. fuel stocks weigh
Oil prices held steady on Thursday, supported by ongoing supply cuts led by producer group OPEC, although rising fuel inventories and crude production in the United States weighed on sentiment. Continue Reading
Natural Gas Falls to Nearly-Three-Month Low
Natural gas fell to new lows after storage levels failed to shrink as quickly as analysts expected, a bearish signal that the market may be oversupplied in the months to Continue Reading
Exploring Hydrocarbon Depletion
Technological advances and learning-by-doing have made U.S. shale oil profitable even at $55/barrel. Just ten years ago shale oil was expensive. Global oil prices spiked to $135/barrel in 2008 but Continue Reading
Energy Companies Face Crude Reality: Better to Leave It in the Ground
A new era of low crude prices and stricter regulations on climate change is pushing energy companies and resource-rich governments to confront the possibility that some fossil-fuel resources are likely Continue Reading
Oil firms as OPEC floats extended output cut; markets still bloated
Oil prices edged up on Friday, lifted by a report that producer club OPEC could extend an output cut aimed at reining in a global fuel supply overhang. Brent crude Continue Reading
Exclusive: OPEC could extend or deepen supply cut if oil glut persists – sources
OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said. Continue Reading
OPEC cuts not doing the job, analyst says
Production cuts from the Organization of Petroleum Exporting Countries aren’t enough to cut global crude oil supplies, a market analyst said Thursday. OPEC members, and coordinating non-member states, last year Continue Reading
Iraq’s February Oil Sales Accelerate Despite OPEC Effort to Cut
Daniel Yergin Expects Big U.S. Oil Producer OPEC Response Iraqi crude shipments rose 3 percent in the first half of February even after OPEC’s second-biggest producer agreed to participate in Continue Reading
These Oil Majors Just Made Egypt Their Highest Priority
Since 2011, political instability and regional insecurity have plagued Egypt’s economy, and the energy sector has not been spared. Until recently a net gas exporter, Egypt turned into a net Continue Reading
Iraq plans to acquire ‘large fleet’ of oil tankers
Iraq plans to acquire a “large fleet” of oil tankers to transport the OPEC nation’s crude to global markets, Oil Minister Jabar al-Luaibi said in a statement on Friday. The Continue Reading
Hurdles Mount for Saudi Aramco’s IPO
Complications restructuring Saudi Arabia’s state-owned oil company and disentangling its finances from those of the government are slowing the march toward what is expected to be the biggest initial public Continue Reading
Trump Burning Bridges In Iraq Over “Take the Oil” Comments
“The old expression, ‘to the victor belong the spoils’—you remember. I always used to say, keep the oil. I wasn’t a fan of Iraq. I didn’t want to go into Continue Reading
How Saudis Cut Oil Output Without Really Cutting
Saudi Arabia has led the way among major energy exporters in cutting oil production. At the same time, the kingdom is adding to global supply in a surprising way. The Continue Reading
As Consultations Continue, Nigeria Records 58 Per Cent Decrease in Pipeline Vandalism in Niger Delta
The Nigerian National Petroleum Corporation, NNPC, said on Thursday that it has recorded about 58 per cent reduction in cases of pipeline sabotage. This was disclosed in the Corporation’s monthly Continue Reading
Mexico City, Parched and Sinking, Faces a Water Crisis
On bad days, you can smell the stench from a mile away, drifting over a nowhere sprawl of highways and office parks. When the Grand Canal was completed, at the Continue Reading
Asian refiners receive full Saudi crude allocations for March
Saudi Aramco’s major crude oil buyers in Northeast Asia and Southeast Asia are receiving full term allocations for Saudi crude oil loading in March, according to traders contacted by S&P Continue Reading
Is The Bakken A Bust?
North Dakota has released December production data for the Bakken and for all North Dakota . They were a little shocking. (Click to enlarge) Bakken production down 86,150 barrels per Continue Reading
OPEC’s Oil Curbs Grant Russia’s Urals a Rare Ticket for S. Korea
The biggest oil producers in the Middle East are helping crude from Western Siberia boldly go where it’s rarely gone before. Top South Korean refiner SK Innovation Co. is set Continue Reading
Worst Gasoline Glut in 27 Years Could Be Oil Rally’s Nemesis
A gasoline glut brought on by drivers buying less at filling stations is emerging as one of the biggest threats to the yearlong oil-price rally. U.S. gasoline consumption plummeted last Continue Reading
How Long Can The Permian Craze Continue?
The two great dueling forces in the world oil market, OPEC and American production, have created an atmosphere of uncertainty, as prices hover above $50. Last week the EIA reported Continue Reading
Tidal Lagoon Energy in Wales
The report of an independent review of UK tidal lagoon energy was published on 12 January 2017 by a former UK energy Minister Charles Hendry. The report praises the proposed Continue Reading
Decline of UK’s Rough storage site to raise gas import costs
The decline of Britain’s biggest gas storage site and the lack of new-build to replace it will increase dependency on imports over the next few years, boosting wholesale market volatility Continue Reading
Oil prices steady on OPEC cuts, but record U.S. fuel stocks weigh
Oil prices held steady on Thursday, supported by ongoing supply cuts led by producer group OPEC, although rising fuel inventories and crude production in the United States weighed on sentiment. Continue Reading
Higher inventories send oil prices lower
More signs of recovery in U.S. shale oil basins and indications of a build in inventories sent crude oil prices lower early Wednesday. Crude oil prices rallied Tuesday to offset Continue Reading
Oil Closes Near $53 as Record U.S. Supply Counters OPEC Cuts
Oil closed near $53 a barrel as record U.S. inventories tempered the impact of OPEC’s production cuts. American crude supplies climbed 9.53 million barrels to 518.1 million, the highest level Continue Reading
Kuwait Boosts Oil Capacity to Open Taps Once OPEC’s Cuts Expire
Kuwait is sticking with plans to add half a million barrels a day of oil-production capacity as it prepares for the eventual expiration of the output quotas OPEC adopted to Continue Reading
Libya Crude Output Rises as Work Conditions for Big Oil Improve
Libya’s crude production exceeded 700,000 barrels a day and is due to keep rising as working conditions in the conflict-ridden country improved for international companies like Eni SpA and Total Continue Reading
OPEC notes role as market stabilizer
The secretary-general of OPEC said market stability was a primary objective for the production group, but noted the importance of spare capacity. Mohammad Sansui Barkindo, the secretary-general of the Organization Continue Reading
Saudis Lose South Korean Market Share To Iran
South Korea doubled its imports of Iranian crude in January this year from the same time last year, when Iran returned on the international oil market and started exporting growing Continue Reading
Can Saudi Arabia Carry OPEC Through Spring?
Faced with budget strains amid low oil prices, Saudi Arabia ditched its pump-at-will policy and brought together the diverse group of OPEC nations to agree to production cuts late last Continue Reading
Assassination and bombings roil Basra
ABasra leaders are scrambling to contain an outbreak of violence that has targeted political figures and provoked outrage among Shia paramilitary groups.The spate of violence began with the assassination, on Continue Reading
California demand for wind power energizes transmission firms
A firm controlled by Philip Anschutz, the billionaire entertainment and pro sports magnate, will soon build the largest wind farm in the United States to serve utilities in California, where Continue Reading
U.S. gas prices likely at short-term low
Feb. 15 (UPI) — A retail price watchdog said this may be the short-term seasonal low point for U.S. gasoline prices as refiners start switching to a different blend. “You’ve Continue Reading
Tribe tries again to block Dakota Access pipeline
The tribe at the center of the debate over the construction of the Dakota Access pipeline said it was again challenging the White House on the issue. President Donald Trump Continue Reading
Electric Car Sales Undaunted By Low Gasoline Prices
While oil and gasoline prices have traditionally determined the fate of electrified vehicle sales, plug-in vehicles are seeing other forces shaping global markets. When oil prices plunged in 2014, hybrid Continue Reading
U.S. Crude Inventories Reach Record High After EIA Reports Significant Build
For the third week in a row the Energy Information Administration (EIA) has reported an increase in commercial crude oil inventories of 9.5 million barrels, to a total of 518.1 Continue Reading
Trump’s First Law Removes Transparency Rule For Big Oil
President Trump’s first legislative act was to sign into law a repeal of a transparency rule aimed at keeping public oil companies in check with regard to their international operations Continue Reading
Solar Installations Surge 95% In 2016
The solar industry posted its best year on record in 2016, obliterating previous records by installing a smashing 14.6 gigawatts of new solar in the U.S. That is a 95 Continue Reading