Libya has the technical potential to produce as much as 1.2 million barrels of oil per day, though commercial and security issues interfere, an oil leader said. Mustafa Sanalla, the Continue Reading
Libya’s crude oil production has exceeded 800,000 bpd for the first time since 2014, and could average up to 1.2 million bpd for the rest of this year if oil Continue Reading
A New York Stock Exchange (NYSE) delegation will visit Saudi Arabia in late May to try to lure a listing by state oil giant Saudi Aramco, industry sources familiar with Continue Reading
First quarter revenue rises 72% to 144 billion riyals Revenue from oil more than doubles, non-oil revenue up 1.3% Saudi Arabia reported a first quarter budget deficit of 26.2 billion Continue Reading
On May 3, a government investigation into illegal pipeline taps in the central state of Puebla turned violent. Gunmen using local civilians as human shields opened fire on army officials, Continue Reading
Venezuelan crude sales to the United States recovered in April compared to previous months to reach 741,000 barrels per day (bpd), its highest level since November, due to a larger Continue Reading
China will carry on phasing out sub-standard production capacity, especially in fields of steel and iron, coal-mining and coal-fired power plants, to keep up with targets set for the year. Continue Reading
Communities across the country are rallying behind the Trump administration’s push for a nuclear repository in Nevada, hoping their decades-old wait to ship radioactive material could be coming to an Continue Reading
In a blow to administration efforts to free the oil and gas industry from Obama-era environmental rules, a Senate resolution to revoke a rule to limit leaks and flaring of Continue Reading
U.S. crude stockpiles posted their biggest one-week drawdown since December last week as imports dropped sharply, while inventories of refined products also fell, helping boost oil prices that have been Continue Reading
Republican efforts to quickly repeal an environmental regulation from the Obama administration failed Wednesday, the first vote to not pass in the new Congress. Three Republican senators and all 48 Continue Reading
The oil market is getting nervous about the depth of US drivers’ love of the road. Data show that domestic petrol use has softened in 2017. Last week, a majority Continue Reading
Over the past 10 years, increased refining activity and relatively flat demand in the Midwest—Petroleum Administration for Defense District 2 (PADD 2)—have allowed refiners in the region to meet a Continue Reading
More than 10,000 jobs in the US Gulf of Mexico may be lost, never to return, as shallow water drilling lands in the doldrums where experts say it will remain. Continue Reading
Russian Urals crude was recently imported into the US East Coast for the first time since 2013, according to US Customs data. More shipments of the medium-to-light sour grade may Continue Reading
U.S. crude oil refinery inputs averaged about 16.8 million barrels per day during the week ending May 5, 2017, 418,000 barrels per day less than the previous week’s average. Refineries Continue Reading
Market should discuss including Russian crude in global marker Says difficult to add more North Sea oil to current yardstick Royal Dutch Shell Plc , the world’s largest oil trader, Continue Reading
Ahead of a meeting of littoral states, a Russian expert said Wednesday there are new methods to offer an edge in assessing Arctic oil and gas reserves. Vladimir Cheverda, a Continue Reading
Scotland’s oil and gas sector is emerging from the downturn, with people getting back into work and businesses growing in confidence, says SNP Deputy Leader Angus Robertson. Scotland’s oil and Continue Reading
A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. Oil prices edged up on Tuesday, driven by anticipation that Continue Reading
Recognizing that something had to be done to halt the latest crash in oil prices, Saudi Arabia’s energy minister went public with his support not only for an extension of Continue Reading
Nationwide supplies forecast to drop by 2 million barrels OPEC ministers said to have discussed deeper supply cuts Oil held gains before government data forecast to show U.S. crude stockpiles Continue Reading
A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. Oil prices edged up on Tuesday, driven by anticipation that Continue Reading
Global climate experts tell a former U.N. news agency the Paris Climate deal might be better off without the United States given the president’s stance on the issue. Photo by Continue Reading
Crude oil prices are slumping, and everyone is clamoring to know: how far can oil fall? Is this a buying opportunity, or is the selloff likely to worsen? Bloomberg recently Continue Reading
OPEC and its cartel of friends must be sweating condensates in advance of their May 25th meeting. The oil price war, triggered almost three years ago, is far from over. Continue Reading
Saudis often liken Aramco, the kingdom’s state oil company, to a fat cow or productive hen. The company has for decades been the bedrock of the economy and the enabler Continue Reading
IMO to cut marine fuel sulfur limit 86 percent in 2020 Meeting rules may cost shippers $60 billion a year: WoodMac Even as the owners of ships carrying everything from Continue Reading
Output at about 780,000 barrels a day on Sharara field boost Global producers signal extension in cuts amid oil price slump Libya is pumping the most oil since October 2014 Continue Reading
Saudi Aramco will reduce oil supplies to Asia by about 7 million barrels in June, a source said on Tuesday, as the oil giant cuts output as part of global Continue Reading
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. Higher crude output from the United States should pressure global oil prices through the end of 2018, Continue Reading
EIA lowers 2017 WTI price forecast to $50.68 from $52.24 Brent crude 2017 price projection revised down 3% to $52.60 U.S. crude production forecasts keep growing. The Energy Information Administration Continue Reading
Low consumer demand and low crude oil prices means lower gasoline prices in the United States. File Photo by hxdbzxy/Shutterstock May 9 (UPI) — Low consumer demand and even lower Continue Reading
The roof over part of an underground tunnel containing radioactive materials collapsed at a former nuclear-weapons production site in a remote part of Washington state, prompting an emergency declaration and Continue Reading
North American independents to lift outlays 51 percent in ’17 Wave of new crude supplies to hit world markets by end of year U.S. shale explorers are boosting drilling budgets Continue Reading
Members of President Donald Trump’s cabinet have a new catchphrase for how they see the future role of the US: not just “energy-independent”, but “energy-dominant”. As Ryan Zinke, the interior Continue Reading
As production in the Permian Basin continues to increase, the accompanying infrastructure has struggled to keep up. Expansions to pipeline capacity are needed to handle the heavier flow, as more Continue Reading
Crude futures rose on Tuesday, hovering above a five-month low, as investors bet on more production cuts by major producers, in the hope that global stockpiles will be reduced. Brent Continue Reading
Nationwide supplies forecast to drop by 2 million barrels OPEC ministers said to have discussed deeper supply cuts Oil held gains before government data forecast to show U.S. crude stockpiles Continue Reading
Andurand Capital reportedly liquidated all of its bullish bets on crude oil in recent days after posting steep losses so far this year. The fund is led by Pierre Andurand, Continue Reading
It’s time we prepare ourselves. It may actually be different for oil this time… Yeah, I know. It’s an article of faith for investors. Anytime you hear someone say, “It’s Continue Reading
New research outlines how energy resource depletion and declining energy return on investment (EROI) may affect prosperity. Modern, prosperous lifestyles are heavily dependent on the availability of abundant, low-cost energy Continue Reading
Output at about 780,000 barrels a day on Sharara field boost Global producers signal extension in cuts amid oil price slump Libya is pumping the most oil since October 2014 Continue Reading
Saudi Arabia’s energy minister Khalid Al-Falih said on Monday that oil markets were rebalancing after years of oversupply, but that he still expected an OPEC-led deal to cut output during Continue Reading
Opec and Russia are on course to extend their oil output cuts in an attempt to draw down supplies and bolster the price, with Saudi Arabia saying the cartel is Continue Reading
Prolonging cuts will speed up rebalancing of market: Novak Saudi Minister Al-Falih confident of agreement to extend Saudi Arabia and Russia signaled they could extend production cuts into 2018, doubling Continue Reading
Iran could see its standing among OPEC members and on the global stage stabilize with global production agreements, a national oil company director said. Iran on Monday started Day 2 Continue Reading
Output at about 780,000 barrels a day on Sharara field boost Global producers signal extension in cuts amid oil price slump Libya is pumping the most oil since October 2014 Continue Reading
Iraq’s April oil export levels were virtually unchanged compared to March, providing another indicator that the Oil Ministry is not planning further production cuts as several oil producing countries attempt Continue Reading
U.S. raises prospect of sanctions after Maduro’s move Loss of major trade route would raise prices for both Venezuela would be hit from two directions if the U.S. were ever Continue Reading
