An armed faction entered a major Libyan oil terminal and a nearby airport on Friday, after attacking forces that have controlled the terminals since September, officials and residents said. The Continue Reading
Libya’s biggest oil port was seized by an armed group, dealing a blow to the North African country as it seeks to revive production of its most important commodity. Brent Continue Reading
Nigeria’s anti-graft agency filed new charges against Royal Dutch Shell Plc and Eni SpA , alleging the companies “corruptly” paid $801 million in 2011 when acquiring an offshore oil field. Continue Reading
Bankruptcies of Chinese businesses have surged in the past two years, in a sign the state is beginning to take painful steps to trim the bloated industrial sector as it Continue Reading
U.S. drillers added oil rigs for a seventh week in a row, extending a recovery into a tenth month as energy companies, including Exxon Mobil Corp, boost spending plans to Continue Reading
The Environmental Protection Agency said Thursday it is withdrawing an Obama-era request that oil and natural gas companies provide information on methane emissions at their operations. EPA Administrator Scott Pruitt Continue Reading
The number of active oil and gas rigs in the United States increased on Friday by 2. Both benchmarks were trading up earlier on Friday on reports of an evacuation Continue Reading
US oil rig counts continued expanding the domestic working crude-directed fleet, pushing it up by seven to 609 as the Eagle Ford Shale further heated up, Baker Hughes data showed Continue Reading
Federal Reserve Chairwoman Janet Yellen and her top deputy signaled the central bank is on course to raise short-term interest rates as soon as this month and will seek to Continue Reading
The Trump administration is expected to begin rolling back stringent federal regulations on vehicle pollution that contributes to global warming, according to people familiar with the matter, essentially marking a Continue Reading
The Trump administration is seeking to slash the budget of one of the government’s premier climate science agencies by 17 percent, delivering steep cuts to research funding and satellite programs, Continue Reading
The Keystone XL oil pipeline does not need to be made from U.S. steel, despite an executive order by President Donald Trump days after he took office requiring domestic steel Continue Reading
Norway’s government pushed forward on expanding oil and gas exploration on the continental shelf Friday with new permits for the North and Norwegian Seas. The Petroleum Safety Authority said Friday Continue Reading
After a budget shortfall in February, Russia’s finance minister said the country expected to receive more than $1 billion in oil and natural gas revenue this month. The Russian government Continue Reading
Despite capital investments coming in at an all-time high, a British survey of oil and gas activity found few projects were delivered on time and under budget. The official British Continue Reading
Oil markets rose on Friday as the dollar edged away from a multi-week high, but prices are being held in check by unchanged Russian output for February, a sign of Continue Reading
Oil prices fell for the third straight session on Thursday, with bearish sentiment fueled by the latest increase in U.S. crude stockpiles and production in addition to the strength of Continue Reading
When is 60 percent compliance a good thing? When it’s not 40 percent… That is the latest status on the non-OPEC nations who agreed to November’s production cut, as discussed Continue Reading
At the outset of the 2014 oil collapse, slacking oil demand growth was often cited as a major contributor to the sharp decline in oil prices. In September 2014, the Continue Reading
Suppose the rapture happened. Not the kind followed by the Second Coming of Jesus as promised by Paul, but a rapture of oil. Imagine that one night, just after the Continue Reading
Wood Group, which provides services for energy producers and explorers, said it’s completed design work for the giant Leviathan gas field offshore Israel. The company said it completed its seven Continue Reading
Iraqi media reported a Kurdish paramilitary force occupied the offices of a state oil company in Kirkuk in a show of force over the nation’s oil reserves. Forces loyal to Continue Reading
U.S. engineering services company KBR said it secured a contract for conceptual studies for oil field basins located in the Kazakh waters of the Caspian Sea. The North Caspian Operating Continue Reading
Crude oil exports from Iraq went up by 1 percent to 3.85 million barrels daily in February, despite the OPEC oil production cut that has seen Saudi Arabia and other Continue Reading
The “Black Force” special police unit of the PUK party briefly took over Kirkuk’s IT-1 facility – a sign of deteriorating intra-Kurdish political rivalries. The Jabal Bor production and gas Continue Reading
Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. World’s top crude exporter Saudi Arabia cut April prices of light crude Continue Reading
Citi’s Ed Morse Says OPEC Is Losing Its Clout Saudi Arabia continued to lead OPEC’s efforts to cut production, helping the organization get closer to a goal set out in Continue Reading
Saudi Arabian Oil Co. has lowered prices for almost all of its crude grades for April delivery. The world’s largest oil exporter, known as Saudi Aramco, said on Thursday that Continue Reading
Dongming Petrochemical Group’s logo is pictured at its office in Beijing, March 4, 2016. Dongming Petrochemical, China’s largest independent or ‘teapot’ refiner, has signed a deal with privately run CEFC Continue Reading
U.S. crude oil production appears to be rising strongly thanks to increased shale drilling as well as rising offshore output from the Gulf of Mexico. Production averaged almost 9 million Continue Reading
Oil is more plentiful than you can imagine. And we keep figuring out easier and more economical ways to get it out of the ground. In 1938, the famous geologist Continue Reading
There are signs utilities are buying more coal this year than last thanks to a late-year surge in natural gas prices, but the black rock still isn’t expected to regain Continue Reading
Demand for gasoline in the United States, which accounts for a tenth of global oil consumption, is expected to peak next year as engines become more efficient, WoodMackenzie analysts said. Continue Reading
When the who’s who of the oil industry met a year ago in Houston, Saudi Arabia ’s energy minister had harsh words for U.S. shale drillers struggling with the worst Continue Reading
The Environmental Protection Agency said Thursday it is withdrawing an Obama-era request that oil and natural gas companies provide information on methane emissions at their operations. EPA Administrator Scott Pruitt Continue Reading
ExxonMobil’s new CEO Darren Woods announced a dramatic shift towards shale drilling this week, a new strategy that will prioritize drilling thousands of smaller wells while reducing spending on the Continue Reading
Russia’s oil output stayed unchanged in February from the previous month, with cuts at just a third of the levels pledged by Moscow under a global deal to reduce production, Continue Reading
Russian oil producer Lukoil said its oil production for 2016 was 8.6 percent lower than in 2015, but higher for the fourth quarter by about 2.5 percent. Excluding work in Continue Reading
Europe’s appetite for natural gas is leading to a growth “renaissance” as its stores of the fuel languish at the lowest levels since 2013, according to Gazprom PJSC. Europe’s appetite Continue Reading
Crude oil fell for a third consecutive session on Thursday as a record build-up in U.S. stockpiles weighed on the market, with producers boosting shale oil production. Crude stockpiles in Continue Reading
U.S. crude lost more ground on Wednesday on rising U.S. oil output, although OPEC production cuts continued to offer support. A decline in U.S. gasoline futures on Tuesday also pressured Continue Reading
Subdued production in 2017 may give way to crude production boost of 1 million barrels per day by 2018 as US exploration and production companies reveal plans to spend more Continue Reading
Saudi Arabia’s shipments of crude oil fell last month, indicating OPEC’s biggest producer is continuing to cut supplies by more than it originally pledged. The world’s largest crude exporter shipped Continue Reading
Kuwait Energy Plc is planning an initial public offering in London that could value the oil and gas exploration business at as much as $1 billion, according to people familiar Continue Reading
Iraq’s crude exports rose 1 percent by volume in February, contrasting with a decrease in monthly shipments by Saudi Arabia after both countries agreed to OPEC’s plan to cut oil Continue Reading
The Saudi King kicked off a month-long tour of Asia this week, as the oil kingdom looks to bolster ties in the east as it loses confidence in the U.S. Continue Reading
Iraq’s oil exports in February appeared to fall by nearly 200,000 barrels per day (bpd) compared to the previous month.The country as a whole – including both federal Iraq and Continue Reading
South Africa’s land is known for its resources such as platinum, gold, diamonds, copper and coal. But its waters may be hiding future giant oil and gas discoveries potentially capable Continue Reading
French energy company Total announced alongside its Brazilian counterpart, Petrobras, both sides were teaming up in a $2.25 billion joint venture agreement. “These new partnerships together with a reinforced technological Continue Reading
Colombia’s smaller rebel group has unleashed a wave of attacks on the country’s No. 2 oil pipeline, a show of strength amid peace talks that’s creating a headache for companies Continue Reading
