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
It’s the beginning of the end for the Bakken Shale play. The decline in Bakken oil production that started in January 2015 is probably not reversible. New well performance has Continue Reading
Exxon Mobil Corp. on Wednesday outlined an ambitious plan to turn to prolific U.S. shale basins for growth, showcasing how the oil giant now sees American production as a key Continue Reading
Exxon Mobil Corp. is trading in long-term projects that pump oil over decades for U.S. shale drilling that can be switched on or off as crude prices change. Long a Continue Reading
The number of tremors afflicting oil-rich Oklahoma has fallen since regulators began cracking down on the injection of wastewater from oil and natural gas wells, but the state still faces Continue Reading
U.S. oil that’s pumped in the Gulf of Mexico has found a new buyer in China. Shandong Dongming Petrochemical Group, a Chinese independent refiner, has bought U.S. Southern Green Canyon Continue Reading
The top United Nations climate change official continues to wait for a response to her request to meet with U.S. Secretary of State Rex Tillerson over whether the U.S. will Continue Reading
The co-inventor of the lithium-ion battery has developed the first all-solid-state battery cells that could lead to safer, faster-charging and longer-lasting rechargeable batteries. John Goodenough, professor in the Cockrell School Continue Reading
The bill contained an important provision for oil producers that read “to promote the efficient exploration, production, storage, supply, marketing, pricing, and regulation of energy resources, including fossil fuels, no Continue Reading
A team of engineers led by John Goodenough, professor in the Cockrell School of Engineering at The University of Texas at Austin and co-inventor of the lithium-ion battery, has developed Continue Reading
Nearly 20 states have raised gas taxes or recalculated gas-tax formulas in recent years to generate additional revenues. Which, of course, is an extremely politically expedient way to raise taxes Continue Reading
ExxonMobil is expecting stronger production growth over the next few years as the world’s largest listed oil company steps up investment in its US shale reserves. Exxon projected its output Continue Reading
Exxon Mobil Corp. on Wednesday outlined an ambitious plan to turn to prolific U.S. shale basins for growth, showcasing how the oil giant now sees American production as a key Continue Reading
Despite general White House support for the oil and gas sector, a trade group said more than 90 percent of the reserves offshore remain off limits to producers. In his Continue Reading
Federal scientists forecast that Oklahoma will continue to have the nation’s biggest man-made earthquake problem this year but it probably won’t be as shaky as recent years. In its annual Continue Reading
U.S. President Donald Trump is likely to sign an executive order next week that lifts a ban on new federal coal mining leases and starts the process of killing other Continue Reading
Italian energy company Eni said it managed to turn a corner after trimming investments last year to turn in its first quarterly profit in more than a year. “The 2016 Continue Reading
In the wake of the expected growth trends set out by its energy outlook, BP plc revealed in its latest strategy update that it anticipates production to increase by an 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
Crude prices pared losses but remained within their recent narrow trading band Tuesday as high levels of oil inventories in the U.S. continued to weigh on the market. U.S. crude Continue Reading
The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead. Oil prices have stabilized and Continue Reading
U.S. oil production continues to rise, threatening to offset much of the output reductions from OPEC, and yet again pushing out the time horizon for the oil market balancing. There Continue Reading
Two years ago, OPEC took steps to increase its market share. It continued with this same policy for two years by pumping oil in an oversupplied market. The result: oil Continue Reading
Saudi Arabian Oil Co. bought half of a Malaysian oil refinery and petrochemical plant as it prepares for what may be the biggest ever initial public offering by bulking up Continue Reading
Since Saudi Arabia said last year that it planned to sell a small portion of its crown jewel Aramco, analysts and industry specialists have been questioning the Kingdom’s evaluation of Continue Reading
Nigeria’s economy shrank for a fourth consecutive quarter in the three months through December and contracted for the whole year, the first such move since 1991. Gross domestic product in Continue Reading
A survey of data from China finds the world’s second-largest economy is advancing on efforts to cut emissions, an environmental group said. Environmental advocacy group Greenpeace said its review of Continue Reading
U.S. oil production in December fell 91,000 barrels per day to 8.783 million bpd, according to data from the U.S. Energy Information Administration released on Tuesday. Oil companies pared activity Continue Reading
U.S. demand for gasoline hit record levels last year, averaging 9.326 million barrels per day, surpassing 2007 levels, according to new monthly figures released Tuesday by the U.S. Energy Information Continue Reading
The head of the Renewable Fuels Association said on Tuesday that U.S. President Donald Trump’s administration would lift the responsibility for fuel blending off refiners, which had long requested this Continue Reading
Shares of U.S. refiners pared gains late Tuesday after President Donald Trump’s administration denied that it was considering a proposal to change biofuel blending rules. Billionaire investor Carl Icahn and Continue Reading
A global market looking to balance OPEC output declines and an expected increase in U.S. pipeline capacity could make oil exports attractive, analysis finds. The U.S. Energy Information Administration reported Continue Reading
U.S. President Donald Trump signed an order on Tuesday directing regulators to review an Obama administration rule that expanded the number of federally protected waterways as the new president targets Continue Reading
Royal Dutch Shell has given the go-ahead to develop its Kaikias deepwater field in the Gulf of Mexico, the first such project the oil and gas company has approved in Continue Reading
President Donald Trump has announced that the construction of the highly controversial oil pipelines must use American steel companies as their source to complete the projects. His plan, however, is Continue Reading
British oil major BP ( BP.L ) lifted the outlook for its core oil and gas divisions on Tuesday, saying it would be able to balance its books with crude Continue Reading
BP Plc said it will need a crude price of about $40 a barrel in 2021 to cover spending and dividends, down from $60 this year, as Chief Executive Officer Continue Reading
Rig company Seadrill Ltd., based in Norway, said it was looking at restructuring options after noting it didn’t expect improvements in lease rates this year. Energy companies are spending more Continue Reading
Europe has wanted to wean itself from Russian natural gas ever since supplies from its eastern neighbor dropped during freezing weather in 2009. Almost a decade later, the region has Continue Reading
