Surging West Texas oil production has pushed the value of the region’s spot crude to its lowest discount to the U.S. oil benchmark in nearly two years, as an exuberant Continue Reading
The Trump administration appears to be moving ahead with an Obama administration proposal aimed at reversing long-standing Jones Act exemptions and is not considering weakening its criteria for waivers from Continue Reading
Russia will be 100 percent in compliance with the terms of a production deal coordinated by OPEC by the end of the month, Russia’s oil minister said. Russia is the Continue Reading
Technology for wind energy could use fixed-wing or sails for power in a way that would make deployment easier for deep waters, a German company said. German energy company E.ON Continue Reading
U.S.-Russian relations took a turn for the worse over the past week after American airstrikes in Syria. U.S. Secretary of State Rex Tillerson is in Moscow this week for discussions. Continue Reading
The surprise airstrikes by the U.S. on a Syrian airfield late last week brought an element of geopolitical risk back to the oil markets, adding support to crude prices. Historically, Continue Reading
Nationwide stockpiles seen falling 1.5 million barrels: survey Libya declares force majeure at export terminal on field halt Oil traded near $53 a barrel, holding its longest winning streak this Continue Reading
The shale oil boom has transformed the U.S. and global energy sector to such an extent that it has upended traditional supply dynamics and made forecasts far more polarized. Investment Continue Reading
International banks are preparing for the Hacienda Hedge – the secretive oil deal that has seen Mexico earn billions from successful bets on future oil prices. Detailed in an analysis Continue Reading
Shale companies have pushed breakeven oil prices below $40 per barrel—but so have major oil companies. Analysts commonly portray cost reduction as something unique to the tight oil companies. Data Continue Reading
Notable authorities such as the EIA, the IEA, OPEC and BP forecast growth of demand for oil in their base case scenarios through the end of their forecast periods. These Continue Reading
As crude prices recover, oil majors face a dilemma – how quickly should they seek to replenish reserves? It’s the same question the cyclical oil industry has tackled many times Continue Reading
Energy Ministry qualifies 51 companies to bid for power plants First Solar, renewables unit of EDF among qualified companies Saudi Arabia will begin seeking bids next week from renewable-energy companies Continue Reading
Libya’s biggest oil field was said to stop producing, just one week after it reopened, the latest in a series of disruptions in the country’s crude output. The pipeline carrying Continue Reading
Libya fits in well with a strategy of capitalizing on mature onshore oil basins and service to European energy needs, the head of Austria’s OMV said. Representatives from the National Continue Reading
Iran expects more, not less, foreign investments in its oil and natural gas sector because of fewer sanctions restrictions, the oil minister said. Iranian Oil Minister Bijan Zangeneh said foreign Continue Reading
Saudi Arabia and international oil companies have discussed gas venture opportunities inside the kingdom and abroad as part of the top crude-exporting country’s drive to diversify investments before the listing Continue Reading
Exports fall to 2.35 million b/d Flows to India jump but relations could sour over Farzad B row Floating storage barrels dwindle Fall in European spot demand from stiffer competition Continue Reading
Former President Goodluck Jonathan probably received as much as $200 million to approve the controversial $1.3 billion sale of OPL 245 oil field, Italian prosecutors said in court documents. The Continue Reading
After repeated denials in various countries, Anglo-Dutch oil giant, Royal Dutch Shell, on Monday finally admitted it had foreknowledge that the $1.3 billion itself and ENI paid to Nigerian government Continue Reading
Oil majors Royal Dutch Shell and Eni reiterated on Monday that neither they nor their personnel had been involved in any wrongdoing in Nigeria, including improper payments to Nigerian officials. Continue Reading
Venezuela’s state-owned oil company should be stopped from plundering its U.S. subsidiary Citgo Holding Inc., according to court papers filed Monday evening by a creditor seeking $1.4 billion from the Continue Reading
News coming out of Venezuela over the past two years has reeked of corruption and failed political leadership: a long list of shortages , rampant poverty , incrimination of the Continue Reading
Diesel use rises 0.3 percent, gasoline demand up 2.9 percent Consumption in January-March about 3% lower from year earlier India’s oil consumption fell for a third straight month, with the Continue Reading
China’s thermal total coal import in 2017 is expected to surge by about 30 million mt over that in 2016, on the back increasing power generation, according to Noble Group. Continue Reading
The total number of original drilling permits more than doubled year-on-year in March, though commercial prospects may be lower, a Texas regulator reported. Texas is the No. 1 oil producer Continue Reading
A large oil find has been declared 60 miles west of Shetland, off the north coast of Scotland. It’s being described as the UK’s “ largest undeveloped discovery ”. Taken Continue Reading
Mining group runs global oil business from Texas to Australia Oil and gas account for about 20% of BHP’s underlying profits The usual suspects have planted their flags along the Continue Reading
More than one in four megawatt-hours consumed in March in the Electric Reliability Council of Texas was supplied by wind power — the biggest share ever for renewables in the Continue Reading
Oil headed for its longest run of gains this year as Libya’s biggest oil field was said to have suffered another outage while Russia signaled it’s weighing an extension of Continue Reading
A motorist holds a fuel pump at a Gulf petrol station in London April 18, 2006. Oil prices were firm on Monday, supported by strong demand and political uncertainty in Continue Reading
Libya’s biggest oil field was said to stop producing, just one week after it reopened, the latest in a series of disruptions in the country’s crude output. The pipeline carrying Continue Reading
DUBAI Iran’s top security body is still reviewing the Iran Petroleum Contract (IPC) model, Oil Minister Bijan Zanganeh was quoted as saying on Sunday, as the contracts aimed at attracting Continue Reading
Nigerian President Muhammadu Buhari’s nascent campaign to negotiate with separatists in the oil-rich Niger Delta has proven to be more effective in restoring oil output to pre-conflict highs than his Continue Reading
The oil price crash that destroyed a lot of smaller oil producers has not spared the finances of even the oldest and largest oil companies. Trying to keep the precious Continue Reading
The Baker Hughes North American Rotary Rig Count wallowed in relative obscurity among the world’s business writers for decades. The Hughes in Baker Hughes is the original Hughes Tool Company, Continue Reading
Sadly, American policymakers are focused on the wrong thing when it comes to petroleum. For the benefit of American consumers and the nation as a whole, the emphasis should not Continue Reading
Summer may be a few months away but oil investors are already getting their hopes up that American drivers will do their part to rebalance the market. Hedge funds increased Continue Reading
The ruble’s “ serious weakening ,” as forecast by Russia’s Economy Ministry, may be seriously good for growth. While the authorities in Russia have wavered this year over the benefits Continue Reading
An overnight surge in crude oil prices moderated in the hour before the start of U.S. trading Friday with rig counts and labor figures putting a lid on the rally. Continue Reading
Oil prices soared by around $1 per barrel on Friday after the United States launched dozens of cruise missiles at an airbase in Syria. U.S President Donald Trump said he Continue Reading
While Syria makes only 0.04 percent of global petroleum supplies — less than Cuba, New Zealand or Pakistan — it calls one of the world’s biggest producing regions its neighborhood. Continue Reading
WTI and Brent jumped to one month highs on the news of U.S. airstrikes in Syria, and while direct risks to oil supply are limited, oil traders are on edge. Continue Reading
A police water cannon disperses demonstrators during an opposition rally in Caracas, Venezuela. Venezuelan authorities confirmed that a young man was killed on Thursday during anti-government protests and vowed to Continue Reading
Shell’s planned exit from a natural gas field in New Zealand doesn’t indicate negativity in the country’s natural reserves, a national petroleum manager said. Royal Dutch Shell announced Thursday it Continue Reading
Ford Motor Co. said Thursday that it would start building electric cars in China to tap into a state-sponsored boom in green-energy vehicles. In doing so, the Detroit-based company signaled Continue Reading
Exploration and production activity in North America outpaced the rest of the world in terms of general gains, oilfield services company Baker Hughes reported. The company offered its report on Continue Reading
The United States oil and gas rig count jumped by 15 this week, to its highest level since September 18, 2015, according to Baker Hughes ’ latest report on domestic Continue Reading
A deal to give Russia’s Rosneft 49.9% ownership of US refiner Citgo if Venezuela’s cash-strapped national oil company PDVSA defaults on its loans threatens US national security and should be Continue Reading
Three US-based LNG export projects have delayed the planned start of their commercial operations, according to company updates on the US Department of Energy’s website. LNG terminal developers must provide Continue Reading
