The Abrupt Demise Of Dutch Gas
The largest and oldest-producing gas field in Western Europe, the Groningen field, is on the verge of being shut down. If that happens, it will entail the tumbling of Netherlands’ Continue Reading
Oil dips on rising U.S. crude inventories, high OPEC supplies
Oil prices fell on Wednesday after a rise in U.S. crude inventories and ongoing high output from OPEC producers revived concerns of a fuel supply overhang. Brent crude futures LCOc1, Continue Reading
Qatar’s $300 billion conundrum: how liquid are its reserves?
When is $300 billion not enough? That question is key to Qatar’s future as some bankers and hedge funds speculate the super-rich state’s vast financial reserves may not be liquid Continue Reading
Three Years Into Cheap Oil, Gulf Is Still Depending on a Rebound
Low prices combined with output cuts are weighing on growth Isolation of Qatar has added to perception of regional risks Energy-rich Gulf Arab nations have scrambled to adjust to the Continue Reading
The Qatar Blockade Is Threatening The OPEC Deal
The blockade of Qatar could persist for quite a long time, according to the foreign minister of the UAE, who insisted that the Gulf States that have imposed the punitive Continue Reading
Saudi Arabia empties domestic crude tanks:
Saudi Arabia has been progressively reducing its bloated domestic stocks of crude in a sign the global oil market is rebalancing, albeit more slowly than OPEC anticipated. Saudi Arabia’s domestic Continue Reading
Saudi Crude Inventories Continue To Decline
The news comes as the KSA pressures the United States and Asian countries to lower their domestic inventories and buy new crude supplies, ending the current glut that is keeping Continue Reading
How a Saudi Prince Unseated His Cousin to Become the Kingdom’s Heir Apparent
After a wakeful night confined to a Mecca palace lounge, Saudi Arabian Crown Prince Mohammed bin Nayef emerged into a marble-walled room the morning of June 21. The 57-year-old prince Continue Reading
Addiction and intrigue: Inside the Saudi palace coup
On Tuesday June 21 Mohammed bin Nayef, a powerful figure in Saudi Arabia’s security apparatus for the past two decades and the next in line to the throne, was summoned Continue Reading
Volvo Accelerates Toward Electric Future With China’s Geely
Volvo Car Corp., the Swedish auto maker, and its Chinese parent Zhejiang Geely Holdings on Thursday unveiled plans for wide-ranging collaboration to develop new technology that aims to accelerate Volvo’s Continue Reading
Oil exploration plans revealed for Cuba
Australian energy company Melbana outlines plans for oil exploration efforts in Cuba by next year. File photo by Ernesto Mastracusa/EPA. July 19 (UPI) — Amendments to a work plan for Continue Reading
U.S. May Halt Oil Imports From Venezuela
The Trump administration is mulling over sanctions against senior Venezuelan government officials, and additional measures could include sanctions against the country’s oil industry, such as halting imports into the U.S., Continue Reading
Factbox: Impacts of US sanctions on Venezuelan oil –
The Trump administration is considering major sanctions on Venezuelan oil exports into the US, a policy move which could exacerbate the current heavy crude supply tightness, and cause a months-long dip Continue Reading
IEA: U.S. has unique role in oil, LNG
The United States stands in a unique position in the energy market with a robust shale oil sector and prospects for liquefied natural gas, the IEA said. Fatih Birol , Continue Reading
BHP to expand U.S. onshore work, though output falters
U.S. oil field development extends into 2018 on the back of increased spending, but total petroleum production falters on field maturation, BHP Billiton said. Onshore U.S. production for the Australian Continue Reading
Coal has no future, says US railroad boss
One of the largest haulers of US coal says fossil fuels have no future, despite pledges to the contrary from President Donald Trump. CSX, a freight railroad company with origins Continue Reading
Permian Oil Reserves Are Grossly Exaggerated
We are entering a new age of American energy dominance according to Energy Secretary Rick Perry . President Trump reflected that view in comments he made last week that “…we’ve Continue Reading
“Dirty, Difficult, And Dangerous”: Why Millennials Won’t Work In Oil
Like many industries today, the oil industry is trying to sell its many job opportunities to the fastest growing portion of the global workforce: Millennials . But unlike any other Continue Reading
Summary of Weekly Petroleum Data for the Week Ending July 14, 2017
U.S. crude oil refinery inputs averaged over 17.1 million barrels per day during the week ending July 14, 2017, 125,000 barrels per day less than the previous week’s average. Refineries Continue Reading
Russia boasts of Turkish gas pipeline progress
Russian energy company Gazprom is moving forward with developments of a gas pipeline through Turkey with shallow-water preparations, a spokesperson said. Russian energy company Gazprom said construction of a pipeline Continue Reading
Oil dips on rising U.S. crude inventories, high OPEC supplies
Oil prices fell on Wednesday after a rise in U.S. crude inventories and ongoing high supplies from producer club OPEC revived concerns of a fuel supply overhang. Brent crude futures Continue Reading
Oil rallies in anticipation of easing supply-side strains
Market anticipation over a possible slowdown in U.S. crude oil production and declining inventories overshadowed OPEC moves to lift oil prices early Tuesday. A report emailed from S&P Global Platts Continue Reading
Oil cuts working, market in balance by end-March: Kuwait minister
The world oil market is taking longer than expected to rebalance but the glut should go by the end of March and OPEC need not take further action to curb Continue Reading
U.S. targets Iran with new economic sanctions over its ballistic missile program
WASHINGTON (Reuters) – The Trump administration on Tuesday unveiled new economic sanctions against Iran over its ballistic missile program and for contributing to regional tensions, one day after warning Tehran Continue Reading
Western forces hit more ISIS oil installations in Syria
Coalition forces hit oil installations controlled by the group in Syria calling itself the Islamic State. U.S. Defense Department photo July 18 (UPI) — The fight against terrorism extended into Continue Reading
Iran Looks To Close More Deals But Oil Majors Are Cautious
Iran is on track to reach a major national milestone this year, if the nation’s oil spokesmen are to be believed. On Wednesday deputy oil minister Amir Hossein Zamaninia predicted Continue Reading
Ajil oil field targeted in latest insurgent attacks
Militants from the self-proclaimed Islamic State (IS) exchanged mortar fire with Iraqi forces guarding the Ajil oil field Tuesday – the latest indication that a renewed insurgency is threatening northern Continue Reading
Saudis Consider Further Cuts To Oil Exports
Tuesday . Oil futures jumped up two percent in value after industry consultant Petroleum Policy Intelligence said the KSA had been considering lowering exports by a further 1 million barrels Continue Reading
Saudi King’s Son Plotted Effort to Oust His Rival
As next in line to be king of Saudi Arabia , Mohammed bin Nayef was unaccustomed to being told what to do. Then, one night in June, he was summoned Continue Reading
Ecuador to Pump Over OPEC Oil Limit
Ecuador has broken ranks with fellow OPEC members as the South American country’s energy minister said it could no longer hold up its end of an agreement to cut oil Continue Reading
Ecuador Abandons The OPEC Deal: Who’s Next?
Ecuador announced its withdrawal from the OPEC agreement this week, a move that could shake the foundation of a deal that was already starting to show some cracks. “We need Continue Reading
U.S. prepares sanctions against senior Venezuelan officials: sources
The Trump administration is preparing sanctions against several senior Venezuelan officials, including the country’s defense minister and a ruling party leader, for alleged human rights violations and could announce the Continue Reading
Venezuela Fires Back at Trump
Venezuela’s government issued a firm rebuke of President Donald Trump on Tuesday after he threatened to put sanctions on the troubled oil-exporting nation unless its increasingly authoritarian leader, Nicolás Maduro, Continue Reading
Venezuela’s National Oil Company On Its Last Legs
On Sunday 9 th , 2017 Venezuela hit a hundred days of anti-dictatorial regime demonstrations. Hundreds of thousands of Venezuelans have taken over main streets and roads demanding a new Continue Reading
One Way Or Another – Venezuela Will Send Oil Prices Up
In a desperate bid to survive its economic meltdown, Venezuela is lobbying other OPEC members to agree to steeper oil production cuts, a move that would likely lead to higher Continue Reading
China drafts new rules for oil storage industry
Beijing on Wednesday issued a draft of new regulations for China’s growing oil and fuel storage industry, helping loosen the state-owned oil majors’ grip on the sector as the nation Continue Reading
China Economic Expansion Exceeds Estimates on Factory Rebound – Bloomberg
China’s economy maintained its momentum last quarter, as global trade and domestic demand spurred a pickup at the nation’s factories. Key Points Gross domestic product increased 6.9 percent in the Continue Reading
U.S. uncompleted well backlog hangs over oil market: Kemp
U.S. oil and gas exploration and production companies are drilling new wells faster than they can be fractured and hooked up to gathering systems, creating a growing backlog of drilled Continue Reading
California Legislature Approves Climate-Change Measure
California Gov. Jerry Brown scored a major win for his climate-change agenda Monday night when the legislature approved an extension of the state’s cap-and-trade program. Mr. Brown had struggled to Continue Reading
Coal and Nuclear are Uneconomic — More Bombshells from Perry’s Draft Grid Study
On Saturday, we reported that a leaked draft of Energy Secretary Rick Perry’s grid study obtained by Bloomberg debunks his attack on renewable energy. ThinkProgress has now obtained a copy Continue Reading
A Brighter Future for Electric Cars and the Planet
There is simply no credible way to address climate change without changing the way we get from here to there, meaning cars, trucks, planes and any other gas-guzzling forms of Continue Reading
API Reports Surprise Build In Crude Inventories
The American Petroleum Institute (API) reported a build of 1.628 million barrels in United States crude oil inventories, compared to analyst’s expectations that this week would see a draw of Continue Reading
U.S. Shale Output Just Reached A New Record
One month ago, we reported that based on recent data , June oil output from shale producers would post the first double-digit production growth since July of 2015, when oil Continue Reading
Oil prices stable as strong demand meets ongoing supply glut
Oil prices were stable on Tuesday, supported by strong consumption but weighed by ongoing high supplies from producer club OPEC and also the United States. Brent crude futures, the international Continue Reading
Oil Falls as Oversupply Concerns Persist
Oil prices reversed gains on Monday, as investors weighed signs of strong demand against a global glut that’s proven difficult to reduce. Light, sweet crude for August delivery settled down Continue Reading
4 Reasons Oil Will Rally Back To $50
n together they point to some semblance of tightening in the market For example, last week the in the IEA’s monthly Oil Market Report , the agency made headlines when Continue Reading
What If Big Oil’s Bet on Gas Is Wrong?
Global gas-fired generation capacity to decline after 2031 Energy giants plan shift from producing oil toward natural gas Talk to a Big Oil executive these days, and the chances are Continue Reading
U.S. certifies that Iran is meeting terms of nuclear deal
Iranian Foreign Minister Mohammad Javad Zarif greets U.N. Secretary General António Guterres at the U.N. headquarters in New York on Monday. (Lucas Jackson/Reuters) The Trump administration certified to Congress late Continue Reading
Libya’s NOC chief to attend OPEC, non-OPEC meeting: statement
The head of Libya’s National Oil Corporation (NOC) said on Tuesday he would lead a Libyan delegation to a meeting of OPEC and non-OPEC oil producers in St Petersburg, Russia Continue Reading
Iran sets goal of 10 new oil, gas deals
The Iranian government said it wants to secure 10 new oil and gas deals by the end of the calendar year, which for Iran ends in March. File photo by Continue Reading