Axeon Specialty Products LLC is shuttering the U.S. largest asphalt refinery when the country might need it the most. The Stamford, Connecticut-based company announced last month it plans to close Continue Reading
The Senate voted Friday to rescind a rule that would have required energy companies to report payments to foreign governments for the right to develop oil, gas and mineral assets, Continue Reading
The number of active oil and gas rigs in the United States increased on Friday by 17, nearly erasing earlier gains to both WTI and Brent crude oil benchmarks. Both Continue Reading
Producers angling to produce more crude oil at higher, stable prices must replenish their workforces to take advantage of the low-key rally, analysts say. This is the second half of Continue Reading
The Keystone XL Pipeline is a bet on much higher oil prices several years from now. It will take at least $85 oil prices to develop the new oil sand Continue Reading
Norwegian energy company Statoil said Friday it found more gas in part of a field it discovered two years ago in the North Sea. Statoil said it made the discovery Continue Reading
Could lead to non-North Sea oil being part of calculation The exchange that’s home to Brent crude futures hired a consultant to discuss with traders, banks and other market participants Continue Reading
Oil prices edged up on Friday on news that U.S. President Donald Trump could be poised to impose new sanctions on multiple Iranian entities, firing geopolitical tensions between the two Continue Reading
Crude-oil futures fell Thursday, as investors weighed signs of falling production and rising inventories. Light, sweet crude for March delivery fell 34 cents, or 0.63%, to $53.54 a barrel on Continue Reading
Since oil prices recovered to over US$50 per barrel, analysts have started calling the bottom of the investment cycle in the oil industry. But while many U.S. onshore drillers are Continue Reading
Yes, it’s Groundhog Day (again), and that dastardly Punxsutawney Phil has seen his shadow, predicting six more weeks of winter. Fortunately, he’s no good at forecasting (unlike the woolly worm), Continue Reading
A ceiling may be fast approaching for crude oil prices as U.S. supply pressures re-emerge in response to rising production, analysis find. The price for Brent crude oil, the global Continue Reading
OPEC cut output by 840,000 barrels a day last month, but has more work to do to fully comply with last year’s historic production deal. The Organization of Petroleum Exporting Continue Reading
Egypt may announce new discoveries of natural gas by the second half of this year, Oil Minister Tarek El Molla said, bringing it closer to its goal of self-sufficiency by Continue Reading
Saudi Arabia, the world’s largest crude exporter, raised pricing for March sales to buyers from the U.S. to Asia as output cuts by OPEC and other producers shore up oil Continue Reading
Aramco Said to Seek Advisers for IPO An audit of state oil producer Saudi Aramco ’s crude reserves is showing “very reassuring” results ahead of what could be the world’s Continue Reading
OPEC and non-OPEC producer Russia are shielding Asia from supply cuts agreed in a landmark deal last year as they fight to protect their share of the world’s biggest and Continue Reading
Saudi Arabia has raised the prices of all grades it will be shipping to Asia, the U.S., Northwest Europe and the Mediterranean countries, with prices for Asian buyers increased more Continue Reading
It may be up to the governments of U.S. states to take the lead in the effort to advance a low-carbon economy, the Natural Resources Defense Council said. A review Continue Reading
U.S. exporters are starting to put political weight behind a House Republican tax plan, touting the benefits of “border adjustment” to investors and forming a coalition to push the idea. Continue Reading
The Trump administration is promising sweeping reforms to the corporate tax system, in a move that could have big consequences far outside the US. A main point of reference is Continue Reading
Royal Dutch Shell ( NYSE:RDS.A ) is making “significant progress” on selling another US$5 billion worth of assets, chief financial officer Simon Henry said on Thursday after the oil supermajor Continue Reading
Supermajors and independents alike scramble for acreage in the prolific Permian Basin as rigs counts increase and crude oil prices stabilize. During the oil and gas industry’s last two dismal Continue Reading
ExxonMobil’s global reach will pose a wealth of conflict-of-interest questions for former CEO Rex Tillerson now that he’s the US secretary of state. (Bloomberg) — Exxon Mobil Corp. boasts that Continue Reading
Donald Trump is convinced the Keystone XL oil pipeline he revived with an executive order on Jan. 24 will gush money. “I want it built, but I want a piece Continue Reading
A 2014-style oil price meltdown could occur again. Only this time, instead of a sudden surge of supply, the culprit will be the fast adoption of electric vehicles, which will Continue Reading
The political discourse last year has largely been dominated by the absence of jobs and wage growth in the blue collar space. For many blue collar workers, the energy sector Continue Reading
Russia could move quicker than expected on trimming oil production under the terms of an OPEC-led agreement, the country’s energy minister said Thursday. Russia joined other oil producers in an Continue Reading
There’s no easy road to fusion. Whether one travels the large route forged by six decades of research on hundreds of machines, or whether one tries to open a way Continue Reading
Oil prices fell on Thursday after official data showed U.S. crude and gasoline stockpiles rose sharply, although signs that OPEC and other producers are holding the line on output cuts Continue Reading
The dollar slumped against all its major peers after the Federal Reserve gave dollar bulls little to be optimistic about after the worst January in 30 years. Global equities slid Continue Reading
To survive the lower-for-longer price market, oil and gas companies need to rethink their strategies for major offshore projects. With oil prices still trading around the $50/barrel mark, oil and Continue Reading
Within two years, production at one of Kurdistan’s flagship oil fields has collapsed by about 75 percent.The rapid decline of the Taq Taq field is an emblem for Kurdistan’s struggling Continue Reading
With the first month of the Organization of the Petroleum Exporting Countries’ deal now behind us, official production and export numbers are hard to find. The early results, though, are Continue Reading
Iraqi oil player Gulf Keystone Petroleum said it was planning further investments this year, but still facing commercial pressures. The company is among those with a strong focus on the Continue Reading
Saudi Arabia has been forced to return to the role of swing producer in the oil market, despite the country’s insistence for three decades it would never play the role Continue Reading
Iraq significantly reduced oil output in January, according to industry sources and export data on Wednesday, but has yet to reach levels expected by OPEC from its second largest producer. Continue Reading
Nigeria’s crude oil exports are on track for a month-on-month rise in March after a string of loading delays pushed back some cargoes. Exports are slated to reach 1.62 million Continue Reading
The recent bump in oil prices isn’t enough to help Petroleos de Venezuela SA as it faces its fourth consecutive year of declining production. The company’s crude output is expected Continue Reading
Traders reduced their bets on a default of Venezuela’s dollar debt over the next year amid a thin repayment schedule in the first quarter. The implied probability of nonpayment over Continue Reading
Cuba-focused Melbana Energy said it more the doubled its reserve estimates for onshore oil, though recovery rates there are low so far. Melbana is one of the few Western oil Continue Reading
China’s apparent oil demand slipped into the negative territory in 2016, a sharp reversal from the near 7% growth witnessed a year earlier, as the country’s slowest GDP growth in Continue Reading
Low oil prices and the distress of the solar, coal, and oil and gas producers resulted in nine energy firms making the top 10 of public company bankruptcies for 2016 Continue Reading
The oil industry invested more than $28 billion in buying up land in the Permian Basin in 2016, three times the amount spent in 2015, according to Reuters . That Continue Reading
How much wood could a woodchuck chuck? Okay, that’s trite, but assuming a woodchuck can chuck wood, the classic children’s alliteration leads economists to think about productivity, poetically. Now I Continue Reading
U.S. crude exports are poised to surpass production in four OPEC nations in 2017 and may grow even more if President Donald Trump honors pledges to ease drilling restrictions and Continue Reading
Rex Tillerson, the former Exxon Mobil Corp. chief, won Senate confirmation as secretary of state after lawmakers split mostly along party lines on U.S. President Donald Trump’s choice of an Continue Reading
“show me a pipe and I will show you a leak” …. Common Sense It’s no secret that the Keystone XL (KXL) and Dakota Access Pipelines were resurrected last week Continue Reading
Arctic temperature difference from normal during January. (WeatherBell.com) The Arctic is so warm and has been this warm for so long that scientists are struggling to explain it and are Continue Reading
The growth of battery-powered cars could be as disruptive to the oil market as the OPEC market-share war that triggered the price crash of 2014, potentially wiping hundreds of billions Continue Reading
