China’s crude refinery throughput in March rose 5.9% year on year to 47.5 million mt, or an average of 11.23 million b/d, preliminary data released Monday by the National Bureau Continue Reading
It’s probably best to look at China’s extremely strong commodity imports in March as a history lesson, rather than a pointer to future trends. Record high imports of crude oil, Continue Reading
Signage for a BP petrol station in London, July 29, 2014. BP Plc said workers on Alaska’s North Slope had brought under control a company-operated well that spewed oil and Continue Reading
EagleClaw Midstream to retain current management and name Deal is latest in a parade of transactions in prolific basin Blackstone Group LP agreed to acquire pipeline company EagleClaw Midstream Ventures Continue Reading
Only 34% of servicing businesses have no risk of insolvency Moody’s says Calfrac will likely need to restructure debt The worst may not be over for everyone in Canada’s oil Continue Reading
Central bank’s latest GDP forecast tops developed-world peers Weak exports, business investment are flies in the ointment Almost out of nowhere, Canada has become one of the fastest growing economies Continue Reading
Investors who took a hit last year when dozens of U.S. shale producers filed for bankruptcy are already making big new bets on the industry’s resurgence. In the first quarter, Continue Reading
European leaders called on authorities in Turkey, a potential energy partner, to seek unity after a weekend referendum consolidated power around the president. Turkish President Tayyip Erdogan barely won the Continue Reading
The amount of electricity generated by coal since 2007 is down 40 percent as natural gas and renewable power capacity grows, the U.S. government reported. The U.S. Energy Information Administration Continue Reading
U.S. rig data shows the longest stretch of gains since 2011 Global oil market moving closer to balance: Saudi Aramco CEO Oil declined below $53 a barrel as the U.S. Continue Reading
Crude oil futures fell slightly in quiet trading on Monday, after a three-day Easter break, as investors digested a third consecutive weekly gain in prices along with North Korea’s failed Continue Reading
Money managers’ WTI net-longs increase for second week: CFTC WTI oil tops $53 a barrel; U.S. crude supply drops from record OPEC is finally making some headway in its race Continue Reading
Most oil producers support an extension of output cuts by OPEC and non-OPEC countries, and Iran would also back such a move, Iranian Oil Minister Bijan Zanganeh was quoted as Continue Reading
China’s steel output rose 1.8 percent in March to a monthly record of 72 million tonnes, stoking worries of a glut that continues to grow even as Beijing tries to Continue Reading
China’s economy has started 2017 with its strongest quarterly performance in 18 months, on the back of a surge in industrial activity, property investment and credit growth. The country’s gross Continue Reading
China’s raw coal production in March increased 1.9% year on year to 300 million mt, the first rise since February 2015, the National Bureau of Statistics said Monday. First-quarter raw Continue Reading
Investors who took a hit last year when dozens of U.S. shale producers filed for bankruptcy are already making big new bets on the industry’s resurgence. In the first quarter, Continue Reading
Two leaks found from well in Prudhoe Bay on Friday morning Volume of the leak is undetermined, cause still unknown A well operated by BP Exploration Alaska Inc. on Alaska’s Continue Reading
The hulking Gallatin Fossil Plant sits on a scenic bend of the Cumberland River about 30 miles upstream from Nashville. In addition to generating electricity, the plant, built in the Continue Reading
Oil prices have rallied back into the mid $50’s on a bout of bullish data, but a rising rig count and elevated production in the Gulf of Mexico could cap Continue Reading
The OPEC Monthly Oil Market Report is out with OPEC’s crude oil production numbers for March 2017. All data is through March 2017 and is in thousand barrels per day. Looking at the Continue Reading
The oil market is rebalancing in the short term, and demand will continue to grow in the long term, Saudi Aramco Chief Executive Amin Nasser said at the Columbia University Continue Reading
The Trump administration is moving to rewrite Obama-era rules limiting water pollution from coal-fired power plants. Scott Pruitt, the administrator of the Environmental Protection Agency, sent a letter announcing his Continue Reading
The head of Saudi Arabia’s state energy giant has warned of a looming oil shortage as a $1tn drop in investments into future production takes effect. Amin Nasser, chief executive Continue Reading
The quest for independence has been a perennial feature of political rhetoric in Kurdistan, but now leaders are taking significant new steps in pursuit of that aspiration.The Kurdistan region’s top Continue Reading
Rise in U.S. output leading to short-term price drop: Nasser Aramco IPO is “on track” and “everything is going well” The global oil market is moving closer to balance even Continue Reading
Iran says it could match Qatar with it production goals. Both sides share in the development of a giant Persian Gulf field that Iran calls South Pars. File photo by Continue Reading
Some of OPEC’s biggest oil producers, including Saudi Arabia, are now targeting $60 a barrel as the level where they want to push crude prices, OPEC officials said, signaling they Continue Reading
Trans Alaska carrying just a quarter of its peak volume The lower the flow, the higher the risks from Arctic cold Here at the top of the world, January brought Continue Reading
Russia is taking a conservative approach to the price of oil, pegging its scenario for growth at $40 per barrel for the nation’s benchmark Urals crude oil. “Taking into account Continue Reading
Summary Recent data on international rig counts continue to show little increase into 2017. We anticipate oil production from non-OPEC, non-US production sources to decline in 2017 as depletion and Continue Reading
Oil prices drifted mainly lower for a second day on Thursday as data showed U.S. crude production continues to rise, even as other oil producers touted production cuts. Brent crude, Continue Reading
Crude oil futures were largely unchanged on Thursday, with the market torn between rising U.S. production and the output cuts being made by OPEC and other producers. Benchmark Brent crude Continue Reading
Inventories rose in first quarter on supply boost before deal U.S. supplies drop from record as output climbs 8th week: EIA Oil capped its third weekly gain after the International Continue Reading
The global oil market is close to balance, after nearly three years of excess supply, as production cuts by top exporters offset a longer-term decline in demand in the richest Continue Reading
Goldman Sachs is standing by its own base oil price scenario of $50 a barrel, anticipating a stable future for the commodity, with price fluctuations in the range of 10-20 Continue Reading
With shale producers adding rigs every week, output is rising and so are stockpiles which weighs on prices and curbs their upward potential, ruining OPEC’s efforts to rebalance the market. Continue Reading
Higher oil prices mean more production from the United States, leaving the global market with more oil than last year, the International Energy Agency said. “Even after taking into account Continue Reading
The OPEC Monthly Oil Market Report is out with OPEC’s crude oil production numbers for March 2017. All data is through March 2017 and is in thousand barrels per day. Continue Reading
Bonga, Forcados facilities will restart by July after work OPEC must extend cutbacks to keep prices above $50 a barrel Nigeria will revive oil production this summer as it completes Continue Reading
Venezuela’s opposition was rallying across the nation on Thursday as part of a bid to strain security forces by staging anti-government protests in each of the volatile country’s 335 municipalities. Continue Reading
Beijing’s patience with North Korea is wearing thin as Pyongyang continues to conduct nuclear missile tests. According to a state Chinese media outlet, Huanqui, China is considering a suspension of Continue Reading
Isolated North Korea doesn’t consume much oil, but curbing or cutting off its supplies in retaliation for further nuclear or long-range missile tests would be painful and potentially destabilising to Continue Reading
The U.S. national average price for a gallon of gasoline would need to move close to $3 before it starts having a negative economic impact, an analyst said. U.S. retail Continue Reading
Ford Motor Co. just announced an ambitious electrification strategy for China. The global Mondeo sedan will see the Mondeo Energy plug-in hybrid launched there early next year, followed by an Continue Reading
This week’s Baker Hughes rig count has oil rigs up by 11, with a majority of the growth occurring in the Permian Basin in Texas and New Mexico. The number Continue Reading
ConocoPhillips, the largest U.S. independent oil producer, said on Thursday it would sell natural gas-heavy assets in San Juan basin to privately held Hilcorp Energy Co for about $3 billion. Continue Reading
The controversial Dakota Access Pipeline will begin interstate crude oil delivery on May 14, according to a filing with the U.S. Federal Energy Regulatory Commission. Energy Transfer Partners LP on Continue Reading
JPMorgan, Wells Fargo, Citigroup cut reserves amid oil rise Banks release $370 million loan provisions in first quarter Wall Street banks’ growing optimism about the energy industry is the latest Continue Reading
Solar panels are more affordable than ever for U.S. homeowners, and that is bad news for the biggest players in the industry. The price of solar panels dropped by 20% Continue Reading
