Incumbent Iranian President Hassan Rouhani said easing international sections and addressing a high rate of inflation are priorities for the OPEC member state. “The first major issue needed to be Continue Reading
In a bid to defend its Asian market share amid OPEC’s production cuts, Saudi Arabia is lowering yet again the official selling prices (OSPs) for the crude grades it sells Continue Reading
South Africa, the continent’s second largest economy, with the most organized business and financial sector in the region, has had its share of electricity related issues culminating in a spate Continue Reading
The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that it has started the processes of a comprehensive independent audit of the oil and gas sector, as well as revenues Continue Reading
Security forces fired tear gas at youths throwing stones and petrol bombs on Monday as Venezuela’s opposition began a second month of protests against socialist President Nicolas Maduro. With hundreds Continue Reading
The U.S. Supreme Court on Monday ruled against an American oil drilling company that claimed Venezuela unlawfully seized 11 drilling rigs in 2010. Siding with Venezuela, the justices ruled 8-0, Continue Reading
President Donald Trump said on Monday he would consider raising the federal tax on gasoline to fund infrastructure development “earmarked toward the highways,” Bloomberg News reported. “It’s something that I Continue Reading
The U.S. president needs to pull the country out of the Paris climate agreement in order to stimulate the oil and gas sector, a trade group said. The Western Energy Continue Reading
Suncor Energy said on Monday that pipeline shipments from the Syncrude Mildred Lake Oil Sands facility in Canada had resumed after completing repairs following a fire at the upgrader on Continue Reading
BP’s regional president for the Gulf of Mexico shares how his company was able to overcome the challenges of operating in deepwater. This year’s Offshore Technology Conference kicked off with Continue Reading
The head of BP’s Gulf of Mexico region said on Monday the oil company’s use of a new seismic imaging technology has identified 1 billion additional barrels of “possible resources” Continue Reading
Companies, trade groups submitted comments to Commerce Dept. Pipeline operators argue policy would increase costs A directive requiring U.S. pipeline companies to use American steel and iron in their projects Continue Reading
Russian oil production edged down to 11.00 million barrels per day (bpd) in April from 11.05 million bpd in March, just short of full compliance with the targets of a Continue Reading
U.S. rigs drilling for crude increase for 15th straight week Libya crude output rebounds as Sharara, Feel fields restarted Oil declined as rigs targeting crude in the U.S. rose for Continue Reading
Oil prices edged lower on Monday, undermined by a weak manufacturers survey out of China, and despite talk that OPEC-led crude oil output cuts could be extended when oil producers Continue Reading
Iran’s Oil Minister said on Saturday OPEC and non-OPEC countries had given positive signals for an extension of output cuts, which Tehran would also back. The Organization of the Petroleum Continue Reading
Top oil exporter Saudi Arabia is expected to cut the price of its flagship Arab Light by 40-50 cents a barrel in June to the lowest in nine months, a Continue Reading
Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. State oil giant Saudi Aramco plans to launch its overhauled Muajjiz oil Continue Reading
OPEC member pumping more than 700,000 barrels a day: Alaokali Biggest field Sharara at 216,400 barrels daily after restart Libya’s crude production rebounded to more than 700,000 barrels a day Continue Reading
The growing protest movement against U.S. oil and gas pipelines has so far focused on stopping or delaying new construction, with some high-profile successes. Now, in Michigan, a broad coalition Continue Reading
The relentless drilling ramp-up in America’s top shale plays is making investors more skeptical that an oil price rebound is on the horizon. After increasing their bets on rising West Continue Reading
Optimism surrounding the potential increase in oil prices is fading with WTI back below $50 per barrel. Nevertheless, the oil industry is doing much better than it was last year. Continue Reading
The first quarter of the year saw record-high oil and gas M&A activity in the U.S., with the value of deals topping US$73 billion – a whopping 160-percent annual increase Continue Reading
Chart 1 – A Model using data from Enno Peter’s shaleprofile.com. The chart above (chart 1) needs some explanation. It is based on the Permian LTO model found by using Continue Reading
