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Month: March 2017

Category:
  • Prices

Oil Heads for Biggest Weekly Gain in 2017 With Eyes on OPEC Deal

Speculation OPEC will extend its deal to curb output and ease a global glut is sending oil toward its biggest weekly increase this year. While futures in New York were Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Prices

Oil dips as record U.S. crude stocks outweigh falling Libya output

Oil prices dipped on Thursday, ending two days of increases as record U.S. crude inventories outweighed a fall in gasoline stocks and disruptions in Libyan supplies. Prices for front-month Brent Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • IEA
  • Prices

IEA Says Oil Prices Will Not Jump Sharply, Despite OPEC Supply Cuts

The International Energy Agency (IEA) does not expect a major increase in global oil prices despite efforts by OPEC and non-OPEC members to reduce output, its executive director Fatih Birol Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Natural Gas Supply

Natural Gas Prices Pare Losses After Data

Natural-gas prices fell Thursday as investors began to contemplate how much natural gas will be added to storage as spring begins. Futures for May delivery settled down 4 cents, or Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Oil Supply
  • Prices

Oil Gains After Data Showing U.S. Stockpile Growth Seen to Be Slowing

Oil prices picked up steam Thursday, building on gains after U.S. data made traders and investors hopeful that the country’s record-high crude stocks may soon start falling. U.S. crude futures Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Prices

Oil Stays Above $49 as U.S. Fuel Demand Blunts Crude Supply Gain

Signs of growing U.S. fuel demand are propping up oil above $49 a barrel, with more refinery purchases seen helping ease a glut in American crude stockpiles. Futures in New Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • OPEC

March exports dip as OPEC cuts continue

Top Oil Ministry officials say Iraq is fully complying with an agreement to cut production. A worker checks the valve gears of pipes linked to oil tanks at Turkey’s Mediterranean Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Oil Supply

World Oil Production

The BP Statistical Review of World Energy has oil production data by country up to the end of 2015. This is what that looks like from 1988: The United States Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Renewables

Report: Global renewable power capacity expanding

As European and Asian leaders take up the low-carbon mantel from the United States, a global report found 2016 was a record-setter for renewable energy. The International Renewable Energy Agency Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Libya

Mysterious Outage In Libya Could Drive Oil Prices Higher

It’s been a rollercoaster ride for Libya’s oil sector the last few months . With production from this important OPEC player swinging wildly with unstable politics in the country. And Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Saudi Arabia

Aramco Hires JPMorgan, Morgan Stanley, HSBC for IPO Roles

Saudi Arabian Oil Co. has appointed JPMorgan Chase & Co., Morgan Stanley and HSBC Holdings Plc for key roles on its initial public offering, according to people familiar with the Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Arabia likely to cut May crude prices to Asia on weak demand

Top oil exporter Saudi Arabia may cut prices for most of the crude grades it sells to Asia in May to track weak demand in the region, trade sources said Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela supreme court ruling raises dictatorship fears

Venezuela’s supreme court, which is controlled by President Nicolás Maduro’s socialist government, has ruled it is taking over the opposition-dominated National Assembly, sparking fears that the crisis-riven country has moved Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela Muzzles Legislature, Moving Closer to One-Man Rule

Venezuela took its strongest step yet toward one-man rule under the leftist President Nicolás Maduro as his loyalists on the Supreme Court seized power from the National Assembly in a Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Brazil

Brazil readies two new FPSOs for subsalt oil and natural gas output: Petrobras

Brazil is in the process of preparing two new floating production, storage and offloading vessels, or FPSOs, to start oil and natural gas production in the country’s record-setting subsalt frontier, Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • China

China steps up Americas oil imports, Unipec backs ‘new frontier’

China’s largest crude oil buyer Sinopec aims to ship more cargoes from Brazil, the United States and Canada, to help ensure stable crude supplies as the Middle East boost refining Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • China

China’s coal-fired generation strong despite renewables push: Citi

China’s coal-fired power generation as a percentage of the total energy mix is on the rise for the second year, despite the push towards renewable capacity additions in the country, Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • China

China’s manufacturing activity expands in March

Photo taken on Feb. 24, 2017 shows workers carrying a monocrystalline silicon stick at a factory in Ningjin County, north China’s Hebei Province. China’s manufacturing purchasing managers’ index (PMI) came Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Pipelines
  • Shale Oil

North Dakota oil output set to rise as controversial pipeline opens

North Dakota oil production will get a shot in the arm next month as a pipeline comes online despite opposition by environmental groups and Native Americans, allowing the energy industry Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Texas oil production down year-over-year

Though recovery is expected to evolve through 2017, data on oil production from Texas show volumes declined year-over-year, based on preliminary figures. The Railroad Commission of Texas, the state energy Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Offshore

Oil and gas projects in deep waters grow competitive

On the heels of new developments in the Gulf of Mexico, a report finds the next breakout area for the recovering oil and gas sector may be deep water basins. Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Shale Oil

Fracking 2.0: Shale Drillers Pioneer New Ways to Profit in Era of Cheap Oil

Using a proprietary app called iSteer, Brian Tapp, a geologist for EOG Resources Inc., dashed off instructions to a drilling rig 100 miles away. This tool is among the reasons Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Environmentalists need to “end the charade” against oil sands

According to the Canada West Foundation, keeping the oil sands in the ground and stopping new pipelines “will actually increase greenhouse gas emissions” – wait, what? At an energy conference Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Pipelines
  • USA

Bruised But Not Broken, Dakota Access Line Foes Turn to Keystone

Activists wait to march outside the U.S. Army Corps of Engineers to protest the Keystone XL Pipeline and rally for Native American rights during the Native Nations Rise march on Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Energy Demand
  • Transportation
  • USA

Is Gasoline Demand On The Rise?

A common refrain one hears these days from market bulls and reads in long-term analyses is that by 2020, the current glut in supply and decline in prices will be Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Shale Gas

Is Haynesville About To Make A Comeback?

Back in early 2011, the Haynesville shale play in east Texas, northwest Louisiana, and southwest Arkansas surpassed the Barnett Shale in Texas as the highest-producing shale gas play in the Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Coal

Donald Trump and the Myth of the Coal Revival

The President’s latest executive order would scrap regulations critical to addressing climate change. But would it also, as he promises, put miners “back to work”? On Tuesday, less than two Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • OPEC
  • Russia

Russia Reaches 2/3 Of Oil Output Cut Target

Russia has cut crude oil production by 200,000 barrels daily , Energy Minister Alexander Novak said. That’s two-thirds of the amount it agreed to cut under the OPEC-non-OPEC agreement closed Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • United Kingdom

Report: Operators Stepping Up Search for North Sea Decommissioning Staff

Operators are improving the ways in which they search for North Sea decommissioning staff, according to a new report by the Boston Consulting Group. Operators are improving the ways in Continue Reading

Posted On : 31 Mar 2017 Published By : Tom Whipple
Category:
  • Prices

NYMEX April gas futures expire at $3.175/MMBtu, up 7.9 cents

The NYMEX April natural gas futures contract expired on a high note, with the prompt-month contract settling at an eight-week high of $3.175/MMBtu, up 7.9 cents day on day. The Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Prices

Oil Stays Above $49 as U.S. Fuel Demand Blunts Crude Supply Gain

Signs of growing U.S. fuel demand are propping up oil above $49 a barrel, with more refinery purchases seen helping ease a glut in American crude stockpiles. Futures in New Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Prices

Oil Rises as Inventory Data Signals Strong Demand

Oil prices closed at a three-week high on Wednesday, boosted by signs of strong demand for crude products and renewed commitments by major oil producers to rein in production.  Light, Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Prices

Oil rises on Libyan supply disruptions, likely OPEC output cut extension

Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC-led output reduction will be extended into the second half Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Iran

After energy agreement, Iran sees growing trade with Russia

Boasting that it’s a result of a multilateral nuclear deal, OPEC-member Iran said its trade volume with oil-rich Russia could pass the $10 billion mark. Iranian President Hassan Rouhani hosted Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • OPEC
  • United Arab Emirates

OPEC compliance with oil curbs rises in March as UAE joins cut: survey

OPEC oil output is likely to fall for a third straight month in March, a Reuters survey found on Wednesday, as the United Arab Emirates made progress in trimming supplies Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Peak Oil

Oil Traders Warn There’s a Supply Crunch Looming

The oil market is risking a supply crunch as producers cut spending on major projects to focus on short-term low-cost shale output in the U.S., some of the top crude Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Egypt

Egypt To Halve Arrears With Oil Companies In Coming Weeks

Egypt expects to cut the $3.5 billion euros it owes to international oil companies by around half in coming weeks, the Egyptian oil minister said on Wednesday. “We have made Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Libya

Libya’s Oil Output Falls to Six-Month Low as Field Shuts

Libya’s crude production dropped to about 500,000 barrels a day, the lowest since September, as exports from the nation’s second-largest terminal at Zawiya were disrupted. The OPEC nation’s output has Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Venezuela

Maduro’s Last Stand: Military Takes Over Struggling Oil Sector

As Venezuela’s foreign currency reserves have shrunk to $10.4 billion USD , so have the country’s goods in stock, against the background of gas, energy and medicine shortages, crime rates Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • China

For Commodity Prices, China’s Output Is Becoming a Growing Factor

Chinese demand has long been the driving force in many global commodity markets. Now, expectations of falling production of goods from aluminum to coal are moving prices and getting more Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • China

China likely to keep oil product exports steady to lower in H1 2017: sources

China is highly likely to restrict oil product exports in the first half of 2017 to flat or below H1 2016 levels amid growing focus on pollution control, curbing excess Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Australia
  • LNG

Chevron makes LNG headway

The third production facility at the Gorgon liquefied natural gas facility off the Australian coast is now in service, the regional subsidiary of Chevron said. “This is a key milestone Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Nuclear

Toshiba’s Westinghouse Electric Files for Bankruptcy Protection

Westinghouse Electric Co., a major player in global nuclear construction, filed for bankruptcy protection, raising questions about the fate of four half-finished reactors in the U.S. A storied name in Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Japan
  • Nuclear

‘You Are All Liars’: Toshiba Shareholders Vent After Westinghouse Bankruptcy

MAKUHARI, Japan—Toshiba Corp. shareholders, some of them in tears, denounced management at a shareholders’ meeting Thursday outside Tokyo and asked why Toshiba had plowed billions of dollars into a now-bankrupt Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Electric Cars

Out of road: driverless vehicles and the end of the trucker

Ramona Saucedo has been on the road for nearly two months, and she’s ready to get back home. Standing in front of a dusty white truck in the parking lot Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Climate

Nations Renew Climate Vows, Press Trump to Do Same

European officials issued rebukes and officials around Asia said they would continue their drive toward cleaner fuels after President Donald Trump laid the groundwork to reverse his predecessor’s climate-change policies. Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Summary of Weekly Petroleum Data for the Week Ending March 24, 2017

U.S. crude oil refinery inputs averaged over 16.2 million barrels per day during the week ending March 24, 2017, 425,000 barrels per day more than the previous week’s average. Refineries Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Shale Oil

Huge 300,000 Bpd Fracklog Could Derail Oil Price Recovery

Thousands of drilled shale wells are sitting idle, unfracked and uncompleted. The backlog of drilled but uncompleted wells (DUCs) grew dramatically beginning in 2014, as low oil prices forced drillers Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Coal

Trump Can’t Save Coal

President Donald Trump signed an executive order on Tuesday that will begin a lengthy process of dismantling former President Obama’s signature achievement on climate change – regulations that put limits Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple
Category:
  • Oil Supply

The 5 Biggest Strategic Petroleum Reserves In The World

The U.S. is the world’s largest holder of emergency crude stockpiles, but now it’s selling off reserves, while China, the second-largest, is taking advantage of low crude oil prices to Continue Reading

Posted On : 30 Mar 2017 Published By : Tom Whipple

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