Oil producers in Russia and Saudi Arabia are pushing to extend the Organization of Petroleum Exporting Countries’ (OPEC) production cuts until June of next year, according to a new report Continue Reading
A view of an oil refinery plant in Novokuibyshevsk, Russia, late last year. Top oil producers Saudi Arabia and Russia are pushing to extend their deal to limit crude oil Continue Reading
World Oil reports that an attack by an armed group caused the field’s pipeline to its nearest export terminal to close. The development sets Libya 330,000-bpd back on its goal Continue Reading
The already strong bilateral relations between Saudi Arabia and China are hitting new levels, as the Kingdom and the Chinese Tiger have decided to set up a joint US$20 billion Continue Reading
The Kurdistan Workers’ Party (PKK) has captured four Turkish intelligence operatives in Sulaimaniya after they attempted to arrest or assassinate a top leader of the Kurdish guerrilla group. The incident Continue Reading
While the United States, Mexico, and Canada are due to meet for a second round of NAFTA talks on Friday, the Texas Association of Business welcomes proposed U.S. legislation that Continue Reading
Venezuela’s Oil Minister Eulogio del Pino, who was appointed again as minister last week, plans to visit Saudi Arabia and Russia ahead of the September 22 meeting of the joint Continue Reading
A worker fixes the company logo of China Guodian Corp at a building in Beijing, China January 24, 2013. Picture taken January 24, 2013.Stringer BEIJING (Reuters) – China Guodian Group Continue Reading
Nissan Motor Co. NSANY -0.10% and alliance partner Renault SA RNO -2.00% are teaming up with Chinese auto maker Dongfeng Motor Group Co. DNFGY -3.62% to make a battery-powered automobile Continue Reading
A hurricane in the heart of the U.S. energy industry is set to curtail near-record U.S. oil production for several weeks, with the impact expected to reverberate throughout the country Continue Reading
U.S. fuel prices surged on Monday as two more Gulf Coast refiners cut output and a third considered reductions, leaving more than 13 percent of the country’s refining capacity offline Continue Reading
The U.S. Environmental Protection Agency will lift as soon as Monday additional gasoline and diesel fuel requirements for more areas of Texas and for Louisiana to address potential shortages caused Continue Reading
U.S. natural gas futures rose more than 1 percent after touching a nearly three-week low on Monday as concerns about a tighter market following Tropical Storm Harvey offset any effects Continue Reading
For more than 40 years, the U.S. has worried about the security of its oil supply. Hurricane Harvey is another reminder that the infrastructure that processes and delivers oil is Continue Reading
Gasoline prices surged Monday on concerns over a shortage in supply after Tropical Storm Harvey knocked out refining operations and traders tried to assess damage in the Houston area. Harvey Continue Reading
Oil markets were roiled, sending gasoline prices surging on Monday after Tropical Storm Harvey wreaked havoc along the Gulf Coast over the weekend, crippling Houston and its port, and knocking Continue Reading
According to retail fuel supplier Mansfield Oil , short-term fuel supplies for Houston and San Antonio are significantly impacted by Tropical Storm Harvey. Bloomberg reports that San Antonio and Houston Continue Reading
Heavy rains from tropical storm Harvey caused large-scale U.S. refinery outages, pushing up gasoline prices, while crude prices rose in early Asian trade on Tuesday on the back of supply Continue Reading
Hurricane Harvey has struck at a time when energy markets appear indifferent to all sorts of traditional stimuli. (This column does not necessarily reflect the opinion of Bloomberg LP and Continue Reading
For years nuclear fusion was the stuff of sci-fi books and movies, but technology has brought it, like so many other things, closer to reality. So close, in fact, that Continue Reading
Oil major Statoil’s highly anticipated Korpfjell prospect in the Arctic Barents Sea contained only non-commercial quantities of natural gas, and no oil, the company announced on Tuesday. Korpfjell was the Continue Reading
Key oil and gas facilities along the Texas Gulf Coast have temporarily shut down as Hurricane Harvey pounds the region with torrential rain and high winds, virtually assuring gasoline prices Continue Reading
About 25 percent of U.S. Gulf of Mexico oil production is offline due to Tropical Storm Harvey, the U.S. Department of the Interior’s Bureau of Safety and Environmental Enforcement said Continue Reading
Gasoline prices hit two-year highs on Monday as massive floods caused by Hurricane Harvey forced refineries across the U.S. Gulf Coast to shut down. The storm came shore over the Continue Reading
For oil prices to rise, demand must increase. That’s the gist of a new article from Forbes’ contributor Jude Clemente. Strong demand from East Asia may be weakening, as China Continue Reading
A local Libyan brigade has closed down two valves on a pipeline to Sharara oilfield, the country’s largest, to make demands for more fuel supplies and better economic conditions for Continue Reading
Indigenous leaders in Peru will obstruct the government’s access to one of the country’s largest oilfields if an indigenous rights law does not take effect in the next 20 days, Continue Reading
China Petroleum and Chemical Corp, known as Sinopec, reported its best six-month profit since the second half of 2014 on Sunday, the latest Chinese state oil major to report a Continue Reading
A coal ship pulls up to the piers in Newport News, Va. China’s reemergence as a coal importer has boosted the fortunes of U.S. producers who are now shipping more Continue Reading
Buildings under construction in Beijing. Some economists say recent weakness in China data is temporary, due to an unusually hot summer building season. SHANGHAI—China’s financial markets are sending conflicting signals Continue Reading
Researchers at the US Department of Energy’s National Renewable Energy Laboratory (NREL), the Swiss Center for Electronics and Microtechnology (CSEM), and the École Polytechnique Fédérale de Lausanne (EPFL) have created Continue Reading
“For now at least, it has become hard to risk capital on the price of oil with as much conviction as in the past.”—Andy Hall, famed oil trader, on shuttering Continue Reading
Several Houston-area refineries were shut down Sunday as Tropical Storm Harvey continued to drench the area, taking roughly 12% of U.S. fuel-making capacity out of commission and compounding concerns about Continue Reading
Tropical Storm Harvey could cause fuel shortages in Latin America after it shut in around 1 million barrels per day of U.S. gasoline and diesel exports typically destined for countries Continue Reading
Hurricane Harvey may achieve in global crude oil markets in a few days what OPEC and its allies have struggled to achieve in months – a tightening of supplies and Continue Reading
A hurricane in the heart of the U.S. energy industry is expected to upend years of U.S. excess oil capacity and low prices, with the impact expected to reverberate globally Continue Reading
Damages may be $24 billion, according to one initial estimate ‘Historic event is currently unfolding,’ insurance broker says Hurricane Harvey’s second act across southern Texas is turning into an economic Continue Reading
Over seven years, the state of California has spent $449 million on consumer rebates to boost sales of zero-emission vehicles. So far, the subsidies haven’t moved the needle much. In Continue Reading
Energy is everything. This is an amazingly important concept. Yet it’s almost universally overlooked. Sometimes it’s hard to appreciate the magical role energy plays in our daily lives because most Continue Reading
Paringa Resources, a mining company with no production but some long-cherished plans, has been one of the most immediate beneficiaries of President Donald Trump’s election. Since 2012 it has been Continue Reading
The energy sector of the S&P 500 has given back nearly all the gains it made last year, when it rose 24% as oil prices rebounded from multiyear lows. Shares Continue Reading
U.S. President Donald Trump renewed his threat to scrap NAFTA and ripped on trading partners Canada and Mexico in a tweet early on Sunday, days before the three countries were Continue Reading
For years nuclear fusion was the stuff of sci-fi books and movies, but technology has brought it, like so many other things, closer to reality. So close, in fact, that Continue Reading
The euro surged to its highest level since January 2015 against the dollar early on Monday, after European Central Bank President Mario Draghi failed to talk down the single currency’s Continue Reading
Exxon, Anadarko, Shell among energy explorers cutting output It’s the first major hurricane to hit U.S. since 2005’s Wilma Hurricane Harvey will be the most powerful storm since 2008 to Continue Reading
WTI traded in an unusually narrow $48.75/$47.03 range this week despite an extreme weather event in the world’s refining hub and geopolitical tensions in from MENA to DC. – In Continue Reading
What do auto manufacturers, utilities and oil companies have in common with Kodak, Blockbuster and Macy’s? Their business models are rapidly vanishing under the pressure of technology innovation and societal Continue Reading
The number of active oil and gas rigs in the United States fell this week by 6 rigs. Combined, the total oil and gas rig count in the US now Continue Reading
A NATO member with a legacy of energy-related interests, the British government said it was working to ensure Libya evolves as a safe and stable partner. British Foreign Minister Boris Continue Reading
Kuwait says that even though China is importing more oil, its exports to the world’s second-largest economy were stable. File Photo by tcly/Shutterstock Aug. 25 (UPI) — Though overall Chinese Continue Reading
