Sample bottle of crude oil are seen in this illustration photo June 1, 2017. Crude oil futures on Friday were on track for their biggest weekly gain since mid-May, ending Continue Reading
Production declined by 100,000 barrels a day last week: EIA Gasoline inventories fall; crude stockpiles unexpectedly rise Oil rose for a sixth day, its longest run of gains since April, Continue Reading
While all eyes are riveted on how much U.S. shale output is undermining OPEC’s production cuts and any oil price gains, other non-OPEC producers are also increasing crude production, and Continue Reading
If you apply the insights of the literature on disruptive innovation, last week’s fall in oil prices could well place members of the Organization of Petroleum Exporting Countries in a Continue Reading
Just a month has passed since OPEC rolled over the production cuts, but the still high inventories and the latest drop in oil prices have renewed comments, rumors, and possibly Continue Reading
Power plants in Diyala and Baghdad are running tests on newly flowing Iranian gas, but security problems and payment terms remain unresolved. The Mansuriya power plant in Diyala province, near Continue Reading
Has Saudi Arabia’s brinkmanship and heavy-handed policies of intervention in the Middle East come back to haunt the desert kingdom? After decades of playing the role of middle man between Continue Reading
Libyan oil production is fluctuating between 950,000 barrels per day (bpd) and “close to” 1 million bpd, rising from around 935,000 bpd earlier this week, a Libyan oil source with Continue Reading
The OPEC deal is in crisis. All oil price gains derived from the 1.2 million-barrel cut’s initial announcement and implementation have been wiped out, and No. 1 OPEC producer Saudi Continue Reading
Russia’s state-controlled oil company is in discussions with Iraqi Kurdistan over helping it develop oilfields in disputed territory at the heart of tensions with Baghdad, in a move that pitches Continue Reading
Iraq’s semi-autonomous region of Kurdistan has been assured by the buyers of its crude oil that the oil was not headed to the U.S., Kurdistan’s Minister of Natural Resources Ashti Continue Reading
Baghdad prepares a legal offensive as the Neverland oil tanker, filled with a controversial cargo of crude from Kurdistan, appears to be changing course toward Canada. The Neverland tanker, seen Continue Reading
Minister of State for Petroleum Resources, Ibe Kachikwu Wednesday stated that the present oil that has remained the main stay of the nation’s economy may not last beyond 39 years. Continue Reading
Ghanaian oil production will average 200,000 barrels per day in 2017, despite a two-month shutdown at one of the small African nation’s major production facilities. The Jubilee floating, production, storage, Continue Reading
The plan by the Nigerian National Petroleum Corporation (NNPC) to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 received a major boost yesterday with Continue Reading
A floating production facility that will be used to tap into the natural gas reserves off the coast of Australia has left the shipyard, Shell said Thursday. Shell’s aviation subsidiary Continue Reading
Tsunehisa Katsumata (L), Ichiro Takekuro and Sakae Muto all deny the accusations Three former power company executives have gone on trial in Japan on charges linked to the Fukushima disaster. Continue Reading
Imports and domestic output of natural gas are outpacing government projections in China as the country works toward a goal of making the fuel 10 percent of its energy consumption Continue Reading
As Opec glares at the surge in US shale production that is threatening to derail its attempt to balance the oil market, it may also want to cast an eye Continue Reading
BHP Billiton Ltd. Chairman Jacques Nasser said the timing of its $20 billion spree into U.S. shale in 2011 was a misstep and that if the miner could turn the Continue Reading
Keystone XL is facing a new challenge: The oil producers and refiners the pipeline was originally meant to serve aren’t interested in it anymore. Delayed for nearly a decade by Continue Reading
WASHINGTON—President Donald Trump declared a new age of “energy dominance” by the U.S. on Thursday as he outlined plans to roll back Obama era restrictions and regulations meant to protect Continue Reading
The U.S. Federal Reserve has already increased interest rates several times, most recently in June, with promises to do much more. Rate hikes pose a problem for the oil industry, Continue Reading
Fusion on the Horizon In the continuous pursuit of a truly renewable and clean energy source , nothing compares to nuclear fusion. Although scientists have already found ways to harness Continue Reading
Oil prices rose to a two-week high on Thursday, extending a rally into a sixth straight session, after a decline in weekly U.S. production eased concerns about deepening oversupply. Crude Continue Reading
Earlier in the week we discussed how lower Saudi export loadings in April are translating into lower arrivals on U.S. shores this month. This has prompted some to ask whether Continue Reading
Crude stockpiles rose by 117,999 barrels last week: EIA Gasoline inventories saw another decline amid supply concerns Crude oil prices gained as government data showed a drop in U.S. gasoline Continue Reading
In options trading, a straddle is literally a sit-on-the-fence strategy. By purchasing a put and a call at the same strike (price of underlying commodity) for the same time period, Continue Reading
We really don’t know where oil demand is going because we are not sure where the global economy is going. This is a situation most people skip when they look Continue Reading
With world oil inventories swelling despite a global pact on cutting output and crude prices falling by a fifth in the past month, OPEC appears to be losing its battle Continue Reading
Scientists, researchers, and engineers have known for decades that there is an energy resource trapped inside ice and found under Arctic permafrost or beneath the ocean floor. Once thought to Continue Reading
Saudi Arabia’s energy minister Khalid al-Falih, as well as his predecessor Ali al-Naimi, has long maintained — in the face of criticism and even ridicule in some corners — that Continue Reading
Despite having a more diversified economy than its Gulf neighbours, oil and gas revenues only account for 11 percent of Iran’s GDP. Its oil & gas sectors are strategic not Continue Reading
Iraq has steadily produced about 4.58 million barrels per day (bpd) between March and May, according to an Iraq Oil Report analysis based on data gathered from each of the Continue Reading
The one thing that isn’t in doubt in Iraqi Kurdistan’s planned independence referendum is the result. It’s virtually certain that an overwhelming majority will back the creation of the world’s Continue Reading
The recently deposed crown prince of Saudi Arabia, Mohammed bin Nayef, has been barred from leaving the kingdom and confined to his palace in the coastal city of Jidda, according Continue Reading
In dollar terms, since mid 2015 Mexico has been a net importer of hydrocarbons (oil, natural gas, petroleum products and petrochemicals combined). To date it has been a relatively small Continue Reading
New Zealand’s government said Tuesday it was introducing new measures aimed at increasing the number of electric vehicles on the nation’s roads. The government said the number of electric vehicles Continue Reading
China National Petroleum Corp (CNPC), the main supplier of diesel and gasoline to North Korea, has suspended fuel sales to North Korea because it is worried that it may not Continue Reading
A new report by S&P Global’s China Senior Analyst Group*, entitled “ China’s Sustainable Energy Future Depends on Efficiency, Economic Transition, And Renewables — Not Slower GDP Growth ” finds Continue Reading
Proponents of a new strain of the always-tiresome, never-correct “Peak Oil” theory have returned to the public discourse , this time with a new theory coming from the other side Continue Reading
U.S. crude oil and petroleum product gross exports have more than doubled over the past six years, increasing from 2.4 million barrels per day (b/d) in 2010 to 5.2 million Continue Reading
An energy-dominant United States means the country is self-reliant and isolated from countries that aim to use energy as a weapon, the energy secretary said. U.S. President Donald Trump is Continue Reading
U.S. crude oil refinery inputs averaged 16.9 million barrels per day during the week ending June 23, 2017, 262,000 barrels per day less than the previous week’s average. Refineries operated Continue Reading
Producers have little choice but to move those extra barrels by train, with costs two to three times higher than pipeline shipping. (Bloomberg) — Call it the pipeline pinch, or Continue Reading
Russian oil producer Rosneft, one of the first to admit its systems were hit by Tuesday’s cyberthreat, said production was unaffected by the attack. Rosneft said Wednesday its operations were Continue Reading
FILE PHOTO: A crew boat passes through Horns Rev 2, a wind farm off the west coast of Denmark near Esbjerg September 15, 2009. REUTERS/Bob Strong/File Photo Wind farm operators Continue Reading
Crude oil futures rose for a fourth consecutive session on Tuesday as investors covered short positions, though worries over a festering supply glut kept a lid on prices. U.S. West Continue Reading
Oil prices rose early on Monday on a weaker dollar, but increased U.S. drilling activity stoked worries that a global supply glut would persist despite efforts by some producers to Continue Reading
Hedge funds slashed their bets on the three main long oil futures contracts by 109 million barrels in the week that ended on June 20th, according to a new report Continue Reading
