The world is heading for an oil-supply shortage that booming U.S. shale production can’t prevent, the chief executive of Saudi Arabia’s state oil company said Monday. Amin Nasser, the chief Continue Reading
Foreign oil companies are invited to propose contracts – though not production sharing – for eight oil fields on the borders with Iran and Kuwait, as well as one offshore Continue Reading
Eviation’s Orca surveillance drone at 2017 Paris Air Show Israeli startup Eviation plans to build an all-electric short-haul 9-pax airliner capable of flights up to 600 miles and have it Continue Reading
Five years ago, when Hugo Chávez was president and Venezuela was a much different place, Ana Margarita Rangel could still afford to go to the movies and the beach, or Continue Reading
On a sweltering night this February, the world’s No. 2 exporter of liquefied natural gas didn’t have enough energy left to keep its own citizens cool. A nationwide heat wave Continue Reading
Disruption to Pakistan’s domestic trade flows of fuel oil due to almost $5 billion of circular debt is swelling stocks and causing severe power shutdowns during the country’s peak summer Continue Reading
Global investments in oil and gas fields are likely to rebound modestly this year thanks to a sharp uptick in spending by U.S. shale producers, the International Energy Agency said Continue Reading
The US will quadruple its crude oil exports to volumes greater than those of most Opec members within three years, an influential consultant has forecast, as Texas producers seek customers Continue Reading
A “biological annihilation” of wildlife in recent decades means a sixth mass extinction in Earth’s history is under way and is more severe than previously feared, according to research. Scientists Continue Reading
Oil prices recovered some losses on Monday after a 3 percent fall in the previous session, but markets remain under pressure from high drilling activity in the United States and Continue Reading
The oil market is suffering from whip lash. After plunging close to $42 per barrel in late June, and officially entering a bear market, WTI has gained nearly 10 percent Continue Reading
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. Accelerating world oil demand and reduced supply from the Organization of the Petroleum Exporting Countries (OPEC) could Continue Reading
Dwane said geopolitical risks could cause prices to skyrocket as several oil producing states are fragile, and oil prices are currently too low for anyone to want to drill fresh Continue Reading
The world’s most valuable company is not Apple, Google, or Amazon. It’s an oil company, and it’s about to go public. Saudi Aramco, the Saudi Arabian state energy goliath, is Continue Reading
Cuts can have biggest impact on oil inventories right now Saudi Arabia’s exports increased last month, tanker data show Now is the time to maximize the impact of OPEC’s oil Continue Reading
A Platts survey pointed to a 500,000 b/d rise in OPEC’s crude oil output in the last two months. Will there be fresh cues about new output cut compliance at Continue Reading
OPEC is considering putting a limit on how much oil members Nigeria and Libya can pump, cartel delegates say, as surging production from those countries is complicating the cartel’s plans Continue Reading
Libya and Nigeria, which have both boosted oil production since they were exempt from global cuts this year, may be asked to cap their crude output soon in an effort Continue Reading
A ministerial committee monitoring an OPEC-led pact on cutting oil production will not discuss the possibility of further cuts at its regular meeting on July 24, OPEC’s secretary-general said in Continue Reading
The four Arab states that are leading the boycott against Qatar vowed on Friday to take new measures against their tiny gas-rich neighbor after Doha rejected in full the list Continue Reading
The U.S. military said it was pressing Persian Gulf countries to resolve lingering issues with Qatar, an issue that presents risks to the energy sector. Saudi Arabia in June led Continue Reading
At least 23 Egyptian soldiers were killed when two suicide car bombs tore through military checkpoints in North Sinai province on Friday, security sources said, in one of the bloodiest Continue Reading
Venezuela, the nation with the world’s largest oil reserves, is experiencing fuel shortages (Flickr). In a country where basic necessities such as drugs and food are scarce, it would not Continue Reading
Mexico is planning to hold four more oil and gas block tenders by November 2018 as part of efforts to ensure the sustainability of its energy industry and make better Continue Reading
The Trump administration is unlikely to ban imports of Venezuelan crude even as it considers a slate of sanctions on the country’s energy sector, said a person familiar with those Continue Reading
China on Sunday completed a 60-day trial of mining gas hydrates, commonly known as combustible ice, in the South China Sea, marking breakthroughs in human’s search for alternative clean energy Continue Reading
India, the world’s third-largest oil importer, will import crude oil from the United States for the first time after Indian Oil Corp bought a cargo that will be delivered in Continue Reading
The Three Gorges and Gezhouba, two of China’s top hydropower plants, have closed capacity by as much as two-thirds, state media said on Tuesday, as torrential rains across the south Continue Reading
Last year, the Organization of the Petroleum Exporting Countries conveniently predicted that in 2040, electric vehicles would make up just 6.7% of the car fleet. The owners of four-fifths of Continue Reading
The number of active oil and gas rigs in the United States rose again this week, this time by 12, resuming what was the US shale patch’s impressive run of Continue Reading
After two decades spinning power from the gusts that sweep Europe’s North Sea, the offshore wind industry is finally turning to the U.S. A big hurdle: getting its giant turbines Continue Reading
A statue honoring miners stands in front of the Boone County Courthouse in Madison, W.Va. The memorial flame stays lit for the duration of the town’s week-long Coal Festival. (Michael Continue Reading
Part I Discoveries and Reserves The following are a few charts and observations concerning the US Gulf of Mexico production, with data mostly taken from BOEM for the OCS and Continue Reading
In a new study, a team from the University of Central Florida and MIT has found that the US Corporate Average Fuel Economy (CAFE) Standards is an effective policy solution Continue Reading
Russian President Vladimir Putin says his country is committed to a multilateral effort to stabilize the energy markets through coordinated production declines. File Photo by Yuri Kadobnov/Pool/EPA July 7 (UPI) Continue Reading
Just a day after Russia’s Energy Minister Alexander Novak said that the OPEC/non-OPEC production cut pact was working and that there was no need to make immediate additional moves, an Continue Reading
Arctic drilling may become unprofitable for Norway if oil prices continue to fall, says a new report looking into the best and worst scenarios for this new frontier in the Continue Reading
The world has anticipated the “rapid exhaustion” of crude oil supplies for at least 100 years.Will it go on being close to running out of crude for the next 100? Continue Reading
il prices fell more than 2 percent on Friday after data showed U.S. production rose last week just as OPEC exports hit a 2017 high, casting doubt on efforts by Continue Reading
The Brent crude oil options market is showing a definite split between the optimists and the pessimists this week, but it would seem the bulls are starting to gain the Continue Reading
Oil markets were firm on Wednesday on worries over geopolitical tensions in the Korean peninsula and the Middle East, although prices were capped as supply remains ample despite an OPEC-led Continue Reading
Oil futures settled up slightly on Thursday, well off session highs, after a sharp but short-lived boost from a much bigger-than-expected decline in U.S. inventories of crude oil and gasoline. Continue Reading
Seasonality is a concept well understood by the capital markets. Take adages such as “Sell in May and go away,” which reputedly has its origin in the North American mining Continue Reading
Russian Energy Minister Alexander Novak said a global pact by OPEC, Russia and other producers to cut oil output had dampened price volatility and was reducing bloated inventories, so no Continue Reading
Saudi Aramco said on Thursday its recoverable crude oil and condensate reserves slipped to 260.8 billion barrels at the end of 2016 from 261.1 billion a year earlier. Its gas Continue Reading
In an annual review, the Saudi Arabian Oil Co. said new wells drilling at a field near Riyadh could add another 300,000 barrels of oil per day by 2018. The Continue Reading
A report Thursday from oil pricing group Platts stated that more production is possible from OPEC members Libya and Nigeria, adding to supply-side concerns. A survey of production from members Continue Reading
Fishermen in the Venezuelan state of Falcon on Thursday blocked the passage of tankers through Lake Maracaibo’s navigation canal to two of the country’s most important refineries. The fishermen are Continue Reading
MELBOURNE, Australia—Tesla Inc.’s Elon Musk has agreed to build the world’s largest lithium-ion battery system in Australia, an ambitious project that he hopes will show how the technology can help Continue Reading
Drawdowns continues as White House pledges to sell more Rising domestic output to offset need for a flush SPR U.S. strategic crude stockpiles have dropped to the lowest level in Continue Reading
