Saudi Arabia and its Middle East allies said Friday they were committed to combating terrorism, condemning further the actions of OPEC-member Qatar. Saudi Arabia and its regional allies on Monday Continue Reading
Libya’s largest oil field, El Sharara, has resumed production after workers had shuttered the 270,000-bpd field on Wednesday, protesting over the lack of medical treatment for a co-worker who had Continue Reading
Iraq is planning to triple its refining capacity as the third-largest oil exporter increases crude oil production, Bloomberg reported, based on an interview with an official in the country. World’s Continue Reading
There is no evidence the global oil producers’ pact needs to be adjusted now, Saudi Arabian Energy Minister Khalid al-Falih said on Saturday, describing the recent weakness in crude prices Continue Reading
U.S. energy firms added oil rigs for a record 21st week in a row, extending a year-long drilling recovery as producers boost spending on expectations crude prices will rise in Continue Reading
More than a dozen state attorneys general wrote to the head of the Environmental Protection Agency vowing a legal fight to block regulators from easing vehicle-emissions standards, the latest broadside Continue Reading
The number of active oil and gas rigs in the United States rose again this week by 11—making it 21 weeks of consecutive gains—the longest growth streak since at least Continue Reading
Despite a string of recent successes by West Coast communities to block the construction of oil-by-rail facilities, the oil industry has no plans to give up using rail to move Continue Reading
Looking for an excuse to pack up the car for a road trip this weekend? Look no further: The average nationwide gasoline price on Friday was the lowest for this Continue Reading
Any operations for the second string of the Russian natural gas pipeline Nord Stream remain under scrutiny, the European Commission said Friday. European opposition to expanding the Russian natural gas Continue Reading
This year Russia’s budget is reaching its highest level of resistance to oil price swings in the past nine years, Russian Finance Minister Anton Siluanov told Parliament on Friday. We Continue Reading
5 Norwegian oil and gas fields will shut down production unless a wage deal is agreed with the Lederne trade union, an industry lobby group says. OSLO, June 9 (Reuters) Continue Reading
Comey testimony may increase odds of new sanctions Senate Republicans and Democrats negotiating new sanctions amendment McCain pushing new sanctions targeting Russian energy sector Former FBI Director James Comey told Continue Reading
Oil prices have plunged back to levels not seen since OPEC announced its original production cut deal last November. Prices have been falling since the group extended their cuts for Continue Reading
A worker at an oil field owned by Bashneft, Bashkortostan, Russia, January 28, 2015. Oil prices continued to slide on Friday, adding to sharp declines from earlier this week as Continue Reading
As Brent crude oil closed on Wednesday at its lowest level since before OPEC and other nations agreed to cut output, someone bet half a million dollars on prices surging Continue Reading
U.S. oil prices had their worst day since March, falling to their second-lowest level of the year after U.S. data showed an unexpected increase in oil stockpiles. U.S. crude inventories Continue Reading
Oil prices edged lower Thursday, near lows going back to last year with traders still fearing the implications of an unexpected addition to U.S. crude inventories from last week. The Continue Reading
A worker at an oil field owned by Bashneft, Bashkortostan, Russia, January 28, 2015. Crude futures edged up in early Asian trading on Thursday following heavy losses in the previous Continue Reading
The oil price has ignored rising geopolitical tensions in the Middle East, as a three-year old crude surplus has wiped out any real fear over supply, but one of the Continue Reading
The resumption of operations at a crude oil export terminal in Nigeria could lead to stronger output from the OPEC member, industry analysts say. File photo by Pavel Shlykov/Shutterstock June Continue Reading
The United States has begun importing Iraqi oil at a rate of 1.1 million barrels per day to replace export cuts announced by Saudi Arabia late last month , new Continue Reading
Significant uptick in past four days IS safe havens in rural and mountainous areas from Tuz Khurmatu to Naftkhana Proximity to Baghdad concerns security officials Hamrin field wellheads and electricity Continue Reading
The Shell Petroleum Development Company of Nigeria Ltd (SPDC) operator of the Shell/NNPC Joint Venture on Tuesday lifted the 17 months force majeure placed on Forcados Export Terminal following the Continue Reading
Warri — A militant group, New Delta Avengers, yesterday vowed to resume disruption of oil exploration activities in Delta State. The militants declared “Operation Cripple Oil and Gas Production’ saying Continue Reading
India is now two and a half times more likely to experience a deadly heat wave than a half century ago, and all it took was an increase in the Continue Reading
Japan could start getting a secure line for natural gas from Russia if the conditions are right, Russian energy company Gazprom said. Photo by Stephen Shaver/UPI June 8 (UPI) — Continue Reading
Crude oil deliveries to China on the rise and means the second-largest economy in the world is the top crude oil importer. Photo by Pepj/Shutterstock June 8 (UPI) — Customs Continue Reading
Thanks to a 13 percent surge in crude imports (as refiners prepare for maintenance season), China’s trade surplus hit its highest since Jan (though -4 percent YoY). Imports (+14.8 percent Continue Reading
China imported 22.19 million mt of coal — including lignite, thermal and metallurgical coal — in May, down 10.45% from the 24.78 million mt imported in April but up 16.61% Continue Reading
Solar power in the United States is gaining momentum that’s independent of partisan issues in Washington, the head of an industry trade group said. A report published Thursday by the Continue Reading
The number of rigs targeting oil and gas reserves in the United States in May was double the level from last year, Baker Hughes reported. Rig counts serve as a Continue Reading
Canada is inviting Chinese companies to invest in its oil sands, Canada’s Natural Resources Minister Jim Carr said on Thursday, after an exodus in the past few months saw international Continue Reading
U.S. crude oil refinery inputs averaged over 17.2 million barrels per day during the week ending June 2, 2017, 283,000 barrels per day less than the previous week’s average. Refineries Continue Reading
Media coverage of the U.S. shale oil and gas industry makes it sound like the Permian is the only place where things are happening. Everybody is buying acreage in the Continue Reading
* Cargoes are first ever shipments into northern Europe * Dutch cargo seen as Statoil replacement, PGNiG’s spot deal * Not necessarily sign of wave of US LNG coming to Continue Reading
Oil prices dipped on Wednesday, with Brent crude futures failing to find support at $50 per barrel, as global fuel markets remained oversupplied, although rising tension in the Middle East Continue Reading
The 9-month extension to the OPEC deal has had a surprisingly negative impact on oil prices, which headed downward once again at the start of the week due to the Continue Reading
U.S. supplies likely fell by 3.25 million barrels last week Saudi-Qatar dispute seen having limited impact on crude supply Oil rose as U.S. crude stockpiles are seen falling for a Continue Reading
More draws predicted for late 2017, 2018 The oil market rebalancing is in progress, even if it is slower than expected, according to releases by Societe Generale and RBC Capital Continue Reading
No doubt when faced with the question “Who’s the biggest oil guzzler in the world?” one would immediately think about the U.S. or China. Or perhaps India. Few of us, Continue Reading
Circle January 2020 on your calendar for what could be a major disruption to the energy market and a jolt to the global economy. The origin of the problem isn’t Continue Reading
One day in March, the Rioja Knutsen tanker, filled with liquefied natural gas, was traveling from the U.S. to Portugal. Suddenly, Mexico’s power company lobbed in a higher bid for Continue Reading
The U.S. Energy Information Administration on Tuesday cut its 2017 world oil demand growth forecast by 20,000 barrels per day to 1.54 million bpd. In its monthly forecast, the agency Continue Reading
The biggest question in oil markets is what OPEC should do once its deal to cut output ends next spring. Goldman Sachs Group Inc. has an answer, but it requires Continue Reading
Crude oil demand will have to put supply in its place before prices will manage a sustainable rally. Despite six months of lauded compliance with its own production quotas, OPEC’s Continue Reading
TEHRAN—Gunmen and suicide bombers struck Iran’s Parliament and the shrine of Ayatollah Ruhollah Khomeini on Wednesday, killing at least seven people in what officials called a rare terror attack in Continue Reading
Saudi, Abu Dhabi oil ports bar tankers calling at Qatar Dubai’s DP World shuts access to container port at Jebel Ali The biggest Middle East oil and container ports banned Continue Reading
Saudi, Abu Dhabi oil ports bar tankers calling at Qatar Dubai’s DP World shuts access to container port at Jebel Ali The biggest Middle East oil and container ports banned Continue Reading
The choreographed statements by Saudi Arabia and three allies to quarantine Qatar at just after 6 a.m. on June 5 were not signed, but there was no mistake about who Continue Reading
