Employment in oil and gas extraction and oilfield services increase in March, according to the latest US jobs report. The March jobs report is indicative of another positive step forward Continue Reading
The stream of U.S. energy companies going public at the start of 2017 has dried up on concerns over the future direction of oil prices, but private buyers seeking mergers Continue Reading
The government of Norway, one of the largest oil and gas exporters to Europe, said Friday it signed off on new drilling permits in its territorial waters. Norwegian energy company Continue Reading
Russia’s ruble fell the most among major global currencies on Friday and the nation’s borrowing costs climbed after U.S. airstrikes on Syria dimmed hopes for improved ties under Donald Trump. Continue Reading
Gone forever are the days when the world stressed over what would happen when humanity began running out of oil—a fear based on M. King Hubbert’s theory of peak oil—or Continue Reading
Oil jumped as the U.S. cruise-missile attack against Syria roiled global financial markets. Futures in New York and London surged more than 2 percent to the highest in a month. Continue Reading
Oil prices shot up after the U.S. launched a cruise missile attack against Syria. West Texas Intermediate climbed as much as 2.4 percent to a one-month high of $52.94 a 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
Oil prices edged up on Thursday, on track for a weekly gain of 3 percent, after recovering from losses triggered by record high U.S. crude inventories. Brent crude futures were Continue Reading
Oil traded near $51 a barrel as investors weighed a surprise increase in U.S. stockpiles against OPEC-led efforts to reduce the global oversupply. Futures were little changed in New York Continue Reading
Summary OPEC production declines. U.S. energy independence is for real. Producers satisfied with $50. Consumers satisfied with $50. A sweet spot for compromise. Henry Clay was the prominent figure in Continue Reading
Kuwait’s in the best position of major oil exporting nations in the Middle East, Africa and parts of Europe to have a balanced government budget this year with oil forecast Continue Reading
U.S. oil exports jumped to a record high in February, rising by a whopping 35 percent from a month earlier. At over 1 million barrels per day (mb/d), the U.S. Continue Reading
Oil is ticking higher today, as speculators continue to bet on the prospect of the market tightening. As Nonfarm payrolls beckon tomorrow, hark, here are five things to consider in Continue Reading
Most crude oil producers in the Middle East, Africa and the emerging economies of Europe (EEMEA) won’t be able to patch up their budgets this year, Fitch Ratings warned, forecasting Continue Reading
International oil markets could be heading towards a new war, as leading OPEC and non-OPEC producers are vying for increased stakes. The unexpected cooperation between OPEC and non-OPEC countries, instigated Continue Reading
Gulf Keystone Petroleum, an operator in the Kurdish north of Iraq, said in a regular update to shareholders it’s “primed for future development.” Gulf Keystone said the average production from Continue Reading
A few gasoline cargoes around the Caribbean Isles are looking for homes. Three tankers holding about 1.35 million barrels of gasoline and alkylate, an octane-boosting component blended with motor fuels, Continue Reading
Venezuela’s state oil producer PDVSA said it will pay $2.1 billion in bonds after a plunge in crude production and dwindling cash flow spurred bets on a default. Caracas-based Petroleos Continue Reading
The rains brought torrents, pouring into basements and malls, the water swiftly rising a foot and a half. The city of Dongguan, a manufacturing center here in the world’s most Continue Reading
With economic diversification on the agenda in Canada, the country’s natural resources minister said this may be the start of the era for wind energy. Wind energy advocates and government Continue Reading
Oil prices rose to a one-month high after U.S. data gave hope that the country’s building crude stocks would soon reverse direction and begin falling. Refinery activity rose well beyond Continue Reading
Natural-gas prices rose to a two-month high after government data showed a smaller-than-expected storage addition for last week. The U.S. Energy Information Administration said natural-gas stockpiles grew by 2 billion Continue Reading
Twice a year, in April and in October, banks review the creditworthiness of oil and gas companies in what is known as a borrowing base redetermination. Ahead of this year’s Continue Reading
The Trump administration is developing at least one order aimed at both a new five-year offshore oil and natural gas leasing plan and reversing an Obama administration decision to bar Continue Reading
Onshore recruiting is underway again, and hiring for positions offshore may not be too far behind, according to recent announcements. A recent spike in hiring announcements suggests oilfield services companies Continue Reading
Last week, the day after President Trump signed an executive order to undo his predecessor’s efforts to fight climate change, the House Committee on Science, Space and Technology held a Continue Reading
The oil price rout that sent several hundred U.S. oil and gas companies under seems to be largely over, and in a somewhat surprising turn of events, some chief executives Continue Reading
Denmark’s Vestas, the world’s largest wind turbine maker, is keen to expand into areas such as energy storage to increase the global use of wind power and bring costs down. Continue Reading
Oil prices edged higher Thursday after U.S. data gave hope that the country’s building crude stocks would soon reverse direction and begin falling. The latest weekly data from the Energy Continue Reading
Oil traded near $51 a barrel as investors weighed a surprise increase in U.S. stockpiles against OPEC-led efforts to reduce the global oversupply. Futures were little changed in New York Continue Reading
FILE PHOTO: A man pumps petrol for his car at a petrol station in Hanoi, Vietnam December 20, 2016. Oil prices edged up on Thursday, on track for a weekly Continue Reading
The jury is still out on whether OPEC can rein in a global oil glut but top commodity traders are betting it can by selling stakes in storage tank businesses Continue Reading
The oil products that we use—such as gasoline, diesel, and heating oil—are all refined from crude oil. If the demand for these refined products increases, then the demand for crude Continue Reading
Iran has sold all the oil it had stored for years at sea and Tehran is now struggling to keep exports growing as it grapples with production constraints, shipping and Continue Reading
The depletion of Saudi Arabia’s currency reserves shows no sign of abating It was meant to be a given that a rebound in oil prices would slow the depletion of Continue Reading
Middle East international bond sales are off to the strongest ever start to a year as borrower demand for funds outstrips the firepower of local banks in an era of Continue Reading
An exploration campaign off the coast of Cyprus is planned by 2018 following a study of the reserve potential, a Qatari energy company said Wednesday. Cypriot President Nicos Anastasiades hosted Continue Reading
Iraq has plans to boost its crude oil production by 600,000 bpd to 5 million bpd by the end of this year, regardless of its participation in OPEC’s production cut Continue Reading
Iraq says it cut output by 300,000 bpd in March, taking production down to an average of 4.464 million barrels per day (mb/d). That puts Iraq at about 98 percent Continue Reading
West African explorer FAR Ltd. said it raised substantial capital to fund its development programs in the emerging oil basin offshore Senegal. FAR placed 1 billion shares to institutional and Continue Reading
The Wall Street Journal reported that Exxon is looking to jump into Brazil’s offshore sector, one of a few areas of exploration where there are still enormous volumes of known Continue Reading
Royal Dutch Shell RDS.B -0.48% PLC has taken a step toward an exit from its New Zealand assets with a deal to sell its 50% stake in a natural-gas field Continue Reading
Two rivers burst their banks as the tail end of ex-Cyclone Debbie saw water levels surge Media captionTwo rivers burst their banks as the tail end of ex-Cyclone Debbie saw Continue Reading
While OPEC is implementing production cuts, U.S. crude oil exports are steadily growing and winning customers even in China. In February, China was the biggest buyer of U.S. light crude Continue Reading
China’s apparent oil demand rose 5.3% year on year in the first two months of 2017 to 11.65 million b/d on the back of robust economic growth, holiday transportation demand Continue Reading
Gains in exploration and production activity in shale-rich Oklahoma are pulling the economy out of a slump, though recovery is slow, the state treasury said. Oklahoma is one of the Continue Reading
U.S. crude oil refinery inputs averaged over 16.4 million barrels per day during the week ending March 31, 2017, 203,000 barrels per day more than the previous week’s average. Refineries Continue Reading
Even if crude oil prices move above $60 per barrel, the Russian economy likely won’t expand much more than 1 percent, the head of the central bank said. Russia’s economy Continue Reading
Seadrill Ltd. , once the crown jewel of billionaire John Fredriksen’s business empire, is at the mercy of short-term speculators as the biggest funds shun the offshore driller amid a Continue Reading
