Geologists and engineers have successfully drilled into the heart of a volcano in Iceland, as part of a project aimed at assessing the economic feasibility of using deep unconventional geothermal Continue Reading
Grade’s premium to Dubai oil has lowest close in seven years Smaller gap makes Brent more attractive to Asian refineries North Sea oil is flooding into Asia like never before Continue Reading
U.S. inventories probably fell 1.95 million barrels last week Russia’s Novak will meet nation’s oil bosses on OPEC-led deal Oil halted a six-day slide before U.S. government data that’s forecast Continue Reading
Oil prices retreated Monday, as growing U.S. production and other signs of global oversupply keep thwarting a widely-expected rally. Monday’s downturn from overnight gains is the latest sign oil may Continue Reading
Oil prices recovered some lost ground on Monday after big losses last week, driven by expectations that OPEC will extend output cuts till the end of 2017, although a relentless Continue Reading
Oil prices took another dip on Monday, and with WTI down to $49 per barrel, crude oil has given up most of the gains that it had made so far Continue Reading
OPEC complies with its production cut deal, but one month before the cartel returns to Vienna to consider an extension, crude oil’s march toward market stability and a $65 per Continue Reading
Production cuts need to be extended through 1H 2018: Fesharaki Onshore oil inventories are still rising, FGE founder says OPEC needs a year more to accomplish what’s at the moment Continue Reading
Discoveries in the Persian Gulf of petroleum reserves may boost Iran’s ranks in terms of global capacity, a national director said. Ali Vakili, identified by the Iranian Oil Ministry’s official Continue Reading
Officials at Saudi Arabian Oil Co. have told their superiors there is a hitch in the plans to take the state-owned oil company public: It is likely worth at least Continue Reading
Iraq has launched the third and final phase of work to expand its southern Halfaya oil field, aiming to double its output capacity in 2018 to 400,000 barrels per day, Continue Reading
Iraq’s attempts to reduce oil production appear to have leveled off in March, as senior oil officials said they are fully complying with OPEC cuts.The country produced an estimated 4.586 Continue Reading
Central bank Governor Emefiele said to tolerate naira dropping Naira forward contracts jump to highest levels since March Nigeria’s central bank will let the market determine the naira’s rate in Continue Reading
Barricading roads with trash and even bathtubs, small groups of protesters held “sit-ins” around Venezuela on Monday in an effort to maintain momentum as anti-government unrest entered a fourth week. Continue Reading
U.S. oil and gas company Chevron Corp said on Monday it has agreed to sell its three gas producing fields in Bangladesh to Chinese firm Himalaya Energy, as part of Continue Reading
U.S. supermajor Chevron Corp. said Monday it was departing from the Asian geothermal sector with the regional sale or planned sales of its subsidiaries. For an undisclosed sum, the company Continue Reading
As natural gas prices have seen a bit of a correction, it’s easy to forget that natural gas is actually a pretty good play right now — at least in Continue Reading
Gasoline prices in North Korea’s capital Pyongyang jumped by as much as 83 percent within three days on the back of reports that China is mulling over an oil embargo Continue Reading
China aims for non-fossil fuels to account for about 20 percent of total energy consumption by 2030, increasing to more than half of demand by 2050, its state planner said Continue Reading
China’s conversion of coal into natural gas could prevent tens of thousands of premature deaths each year. But there’s a catch: As the country shifts its use of vast coal Continue Reading
Atlantic hurricane season can cause power outages and high gas prices for consumers and the year is off early with Tropical Storm Arlene, forecasters note. Arlene was only the second Continue Reading
Stepped-up drilling for oil in the U.S. may have global producers on edge about oversupply, but the increased activity in the domestic energy sector is a boon for oil-field services Continue Reading
The Ford Fusion Hybrid knocked the Prius out of the top spot for the first time in U.S. sales during January and March. That’s reflected more market competition and an Continue Reading
Perhaps the most surprising sign of a recovery in the US onshore drilling industry has been the abrupt about-face for day rates, an analysis by RigData, a unit of S&P Continue Reading
U.S. gasoline futures were down more than 1 percent on Monday, reflecting demand concerns as refiners emerge from the winter maintenance season and prepare to turn out more fuel. Meanwhile, Continue Reading
U.S. East Coast refiners are looking to buy increasing volumes of domestic crude oil from the Gulf Coast, two sources said, the latest twist in a trade flow upheaval in Continue Reading
Ahead of his 100th day in the White House on Saturday, President Trump is expected this week to unveil details of major policy initiatives, including executive orders aimed at expanding Continue Reading
Norwegian government says there’s more oil than initially estimated in the Edvard Grieg field in the North Sea. Map courtesy of the Norwegian Petroleum Directorate. April 24 (UPI) — Results Continue Reading
Norway’s Statoil on Monday played down concerns that drilling in the Arctic is risky, days before it kickstarts its drilling campaign in the Barents Sea, where the country believes around Continue Reading
European energy firms pledged Monday to finance half the cost of a natural-gas link from Russia to Germany, lending support to a pipeline plan that is fueling tensions within the Continue Reading
Batteries deployed at solar farms in Britain could add reliability to the renewable energy portfolio in the country, developers said. Investment manager Ancala Partners and energy storage provider Anesco said Continue Reading
Workers look at a drilling rig at a well pad of the Rosneft-owned Prirazlomnoye oil field outside the West Siberian city of Nefteyugansk, Russia, August 4, 2016. Russia reclaimed its Continue Reading
Country typically increases output in second half of the year Rosneft and Lukoil plan higher spending and more drilling For Russian oil companies, the historic agreement to boost prices by Continue Reading
Oil prices recovered some lost ground on Monday after big losses last week, driven by expectations that OPEC will extend output cuts till the end of 2017, although a relentless Continue Reading
Committee said to conclude March compliance at 98%: delegate U.S. dollar weakens versus euro after French election results Oil rose for the first time in six days as an OPEC-led Continue Reading
Navitas says the Middle East could play space mining role Satellites prospecting asteroids could be launched in 5 years The Middle East has an outsize impact on energy here on Continue Reading
The latest protests were on Saturday and another march is planned for Monday Venezuela’s President Nicolas Maduro has called for talks to resume with the opposition. He also said he Continue Reading
Britain’s ruling Conservative Party said it would cap domestic energy prices if it retained power in an election in June, targeting an industry it accuses of not working properly and Continue Reading
Oil prices fell fast on Friday afternoon as traders see the rising rig count as yet another sign that the markets are still grossly oversupplied. (Click to enlarge) Friday, April Continue Reading
Oil was set for the biggest weekly drop in a month as market confidence in Opec’s ability to overpower a resurgent US shale industry wavered. US benchmark West Texas Intermediate Continue Reading
This is the second of a three-part look at why oil prices have failed to rally despite OPEC’s best efforts at managing supply cuts. Read part 1 here . So, Continue Reading
A number of news media pieces have recently suggested that oil prices may fall due to soaring output in the US. Output from US light tight oil (LTO) may not Continue Reading
An OPEC and non-OPEC technical committee recommended that producers extend a global deal to cut oil supplies for another six months from June, a source familiar with the matter said, Continue Reading
At least a dozen people were killed as the streets of Caracas, Venezuela, erupted into a night of riots, looting and clashes between government opponents and the National Guard late Continue Reading
Venezuela’s president Nicolás Maduro has ordered an investigation into Telefónica’s Movistar for alleged “coup-mongering” after a week of protests against his increasingly repressive rule. Mr Maduro accused the subsidiary of Continue Reading
U.S. Treasury Secretary Steven Mnuchin arrives to meet with China’s Finance Minister Xiao Jie during the IMF/World Bank spring meetings in Washington, U.S., April 21, 2017. The U.S. Treasury will Continue Reading
U.S. drillers added oil rigs for a 14th week in a row, extending an 11-month recovery that is expected to boost U.S. shale production in May in the biggest monthly Continue Reading
Exxon Mobil Corp. won’t be allowed to bypass U.S. sanctions against Russia to resume drilling for oil in a joint venture that seeks to tap billions of barrels of that Continue Reading
U.S. oil drillers slowed the pace of a months-long expansion as investors worry that growing shale production will ruin OPEC’s efforts to prop up prices. Drillers added 5 rigs targeting Continue Reading
Gains in first quarter activity in North America were offset somewhat by declines in Russia and parts of Europe, oilfield services company Schlumberger said. Most first quarter indicators for the Continue Reading
