Consensus is moving in direction of prolonging deal: Al-Falih Saudi minister will speak to Russian counterpart this week The energy ministers of OPEC members Saudi Arabia and Venezuela plan to Continue Reading
Remote-controlled boat laden with explosives intercepted Saudi Arabia building 400,000 barrels/day refinery in Jazan Saudi Arabia’s security forces foiled an attempt to blow up an oil product distribution center in Continue Reading
Three tenders scheduled for 3.45 gigawatts of photovoltaics Aim is to cut domestic use of crude, diesel and fuel oil Saudi Arabia is hoping its solar-power program will generate 7,000 Continue Reading
‘OPEC market share battle hasn’t gone away’: ENBD’s Bell China data for March show Iraq, Iran boosting crude sales Saudi Arabia, the world’s biggest crude exporter, is losing market share Continue Reading
With a reshuffling in the front office underway, Tullow Oil said Wednesday its production offshore West Africa for the first quarter met expectations. Tullow CEO Aidan Heavey is handing the Continue Reading
Nigeria detained a vessel with crew members from countries including Pakistan, Indonesia and Ukraine for alleged theft of crude from a facility owned by Royal Dutch Shell Plc, the navy Continue Reading
Venezuela said it would begin a two-year process to pull out of the world’s oldest regional diplomatic body, in a move that is likely to heighten tensions with its neighbors Continue Reading
Venezuela said Wednesday that it would pull out of the Organization of American States , which has long been critical of President Nicolás Maduro’s unyielding accumulation of power at the Continue Reading
The Venezuelan government’s seizure of a GM factory, as reported by Reuters, signals that the deeply corrupt regime of President Nicolas Maduro is escalating its self-defeating actions. Ironically, for oil Continue Reading
White House advisers and Trump administration officials will meet on Thursday to discuss whether the United States should remain in the Paris climate agreement, a White House official said on Continue Reading
U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending April 21, 2017, 347,000 barrels per day more than the previous week’s average. Refineries operated Continue Reading
In today’s game of rock-paper-scissors from the weekly EIA inventory report, crude inputs were propelled higher (like a rock), blunting the impact of super-strong imports (the scissors). On paper, the Continue Reading
A document circulating in Peru, part of a broad political corruption investigation, stands as a quaint piece of Hugo Chávez memorabilia. It’s a 2006 letter allegedly penned by the late Continue Reading
Amid growing pessimism regarding an extension of OPEC’s oil production deal, and a day after the American Petroleum Institute reported an estimated increase of 897,000 barrels in U.S. commercial inventories, Continue Reading
U.S. President Donald Trump signed an executive order on Wednesday to identify national monuments that can be rescinded or resized – part of a broader push to open up more Continue Reading
Declining development costs and capital efficiency improvements position US E&P companies to earn solid returns at $50 to $60 per barrel oil prices, says Barclays’ report. Sharp declines in development Continue Reading
‘Dragon-class’ and VLEC vessels facilitate transoceanic trade of surplus US ethane. On March 9, 1776, the Scottish economist Adam Smith published his influential book The Wealth of Nations , which Continue Reading
Shale oil output in the United States is rising much faster than expected and gaining market share globally, increasing the risk of a “volume war” with OPEC and weaker oil Continue Reading
U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks increased and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories USOILC=ECI fell by Continue Reading
In a bid to fend off criticism over a dearth of achievements in his first 100 days in office, President Trump plans to sign a flurry of executive orders this Continue Reading
The first cargo of US Bakken crude is heading to Asia, adding to the widening list of western crude moving eastward amid the narrowing spread between low sulfur crude in Continue Reading
Russia’s Federal Security Service, the FSB, said on Wednesday that it had foiled an attempt by alleged Islamic State supporters to carry out a terror attack in a crowded place Continue Reading
Nationwide supplies gained 897,000 barrels last week: API Crude prices to climb to new highs in coming months: Andurand Oil traded below $50 a barrel in New York amid conflicting Continue Reading
Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC’s Continue Reading
Global oil inventories have started to decline and the supply/demand balance will soon tip into a deficit, if it hasn’t already. That will accelerate the drawdowns in crude oil stocks, Continue Reading
It now seems quite likely that OPEC will agree to an extension of November’s production cut agreement at their May meeting. The question facing analysts and market watchers is how Continue Reading
Iraq has started work on the third and final phase of the Halfaya oil field expansion, with the goal to double production capacity next year, a company official at the Continue Reading
British energy company Petrofac said Tuesday it scored a multimillion-dollar contract in part to help Iraq expand port facilities for the Persian Gulf. “Over the coming months we will focus Continue Reading
As Saudi Arabia’s deputy crown prince, Mohammad bin Salman Al Saud, pushes his nation’s Vision 2030 economic overhaul and crows of the $2 trillion Saudi Aramco valuation (ahead of its Continue Reading
Libya’s biggest oil field, Sharara, which has been offline for most of the past month, is set to reopen after the Petroleum Facilities Guard (PFG) reached an agreement with protesters Continue Reading
The Human and Environmental Development Agenda, HEDA Resource Centre, has petitioned Vice President Yemi Osinbajo, requesting the representation of Nigeria as an aggrieved party in the hearing of the Milan Continue Reading
The bombing raid targeted a PKK affiliate, but KRG Peshmerga were killed. A former IS group hideout occupied by fighters from several PKK-aligned militias west of Sinjar, Nov. 12, 2015. Continue Reading
As political turmoil in Venezuela persists, oil firms including Norwegian major Statoil ASA ( STL.OL ) and Spain’s Repsol SA ( REP.MC ) have further reduced their already-dwindling ranks of Continue Reading
Two Venezuelan men died on Tuesday from gunshots at political demonstrations, bringing to 26 the number of fatalities around this month’s protests against President Nicolas Maduro’s socialist government. The state Continue Reading
Vaca Muerta geology a match, support services fall short Energy assets could be key to country’s economic future Argentina’s Vaca Muerta, one of the largest shale formations outside of North Continue Reading
The cold logic of the oil market dictates that crisis usually equals profit. That’s because a crisis in oil usually means a supply crisis, as some large producing country becomes Continue Reading
Mexican state-owned oil company Pemex will consider repeating a recently instituted hedging program in future years, as it looks to firm up its balance sheet and avoid the need for Continue Reading
Utility CEOs seek new ways to profit amid historic shift Renewables also cutting in on power generation monopoly Electric utilities have been doing everything they can to preserve their bottom Continue Reading
Oil major Total SA says EVs will drive 30% of car sales Outlook is more bullish on EVs than most forecasters Electric cars are coming fast — and that’s not Continue Reading
Energy secretary says he won’t advise Trump to abandon UN deal Perry criticizes Germany for allowing emissions to rise U.S. Energy Secretary Rick Perry said the U.S. should renegotiate the Continue Reading
Industry headwinds remain in some business segments because the global oil and gas sector hasn’t fully recovered from 2016, Baker Hughes reported. The company has reported steady gains in North Continue Reading
The price for a gallon of gasoline in the United States is on the increase and could move higher as summer demand figures into market metrics, analysis finds. Motor club Continue Reading
Regarding Robert Bryce’s “Thanks for Giving Me Your Tax Money” (op-ed, April 19): Mr. Bryce, you and your community are welcome for your reliable and competitive solar electricity. Yours is Continue Reading
After reaching a record high of 79 billion cubic feet per day (Bcf/d) in 2015, U.S. marketed natural gas production fell to 77 Bcf/d in 2016, the first annual decline Continue Reading
ExxonMobil has boosted it’s dividend every April for at least a decade, delivering more than $98 billion directly to shareholders. (Bloomberg) — Exxon Mobil Corp. has boosted it’s dividend every Continue Reading
Permian Basin hoards the spotlight, but meanwhile, offshore producers are a fraction of a percentage point away from hitting another all-time high during the first half of the year, according Continue Reading
Executive order to seek review of Antiquities Act designations National monuments puts land off limits to energy development President Donald Trump will order a review of as many as 40 Continue Reading
The estimated amount of undiscovered oil and gas in the Norwegian waters of the Barents Sea is likely twice what was previously assumed, the government said. Apart from Russia, Norway Continue Reading
As the global oil supply glut grows, Russia has not yet climbed on board of OPEC’s production cut agreement extension. (Click to enlarge) (Click to enlarge) Chart of the Week Continue Reading
The Norwegian Petroleum Directorate (NPD) said on Tuesday that its latest estimates show that the undiscovered oil and gas resources in the Barents Sea are twice as large as previously Continue Reading
