Iraq’s proposal to change the way it prices crude oil in Asia faces resistance from refiners who fear that longer lead times between pricing and deliveries will expose them to Continue Reading
Norway’s Statoil marks a debut of sorts with a partnership in a shale basin in Argentina, one of the largest in the world. Map courtesy of Statol Aug. 25 (UPI) Continue Reading
Venezuelan state oil company PDVSA on Thursday said on Friday it was negotiating the continuation of its lease of Curacao’s Isla refinery but was open to Chinese partners following a Continue Reading
AP Photo/Ricardo Mazalan CARACAS, Venezuela (AP) — The Trump administration slapped sweeping financial sanctions on Venezuela on Friday, dramatically ratcheting up tensions between the two countries and making it harder Continue Reading
The U.S. on Friday restricted the ability of Venezuela to tap American debt markets for funding, marking a significant escalation in Washington’s economic crackdown against Venezuelan President Nicolás Maduro’s cash-strapped Continue Reading
The economy of Brazil has been struggling lately. Weighed down by the collapse in oil prices, and a massive corruption scandal — which this week saw the former CEO of Continue Reading
U.S. President Donald Trump signed an executive order prohibiting dealings in certain Venezuelan public sector debt on to pressure the government of President Nicolas Maduro to halt its “tyranny,” the Continue Reading
Pilots on the Houston Ship Channel ceased boarding all vessels Friday morning local time due to Hurricane Harvey making its initial assault on the Texas coast, a US Coast Guard Continue Reading
The North Sea Forties crude stream is pumping less oil than expected, leading to delays in the loading of some cargoes of the crude, two trade sources say. LONDON, Aug Continue Reading
The persistent belief that global economic growth is “dangerously slow” and fragile is just a myth, DBS said in a note on Thursday. “If you’re worried about slow growth today, Continue Reading
It is now a well-known fact that humans are depleting vital groundwater resources across the globe. But a new study shows one of the biggest causes of disappearing groundwater is Continue Reading
The Texas Gulf Coast was bracing for Tropical Storm Harvey to make landfall by Friday, bringing with it powerful winds, torrential rains and the possibility that it could strengthen into Continue Reading
Exxon, Anadarko, Shell among energy explorers cutting output Would be first major hurricane to hit U.S. since Wilma Hurricane Harvey, set to become the worst storm to strike Texas in Continue Reading
Oil prices were little changed in early trade on Thursday, holding most of their gains from the previous session after another fall in U.S. crude inventories which is seen as Continue Reading
The oil market is moving in the right direction towards rebalancing, but all options, including extending the cuts beyond March 2018, are left open, the joint OPEC/non-OPEC committee set up Continue Reading
OPEC monitoring committee says “all options” are on the table to ensure a market tilted toward the supply side returns to balance. Photo by alphaspirit/Shutterstock Aug. 24 (UPI) — A Continue Reading
Crude oil prices turn lower after a banner day Wednesday as compliance wanes for an OPEC-led effort to balance the market. File photo by Monika Graff/UPI Aug. 24 (UPI) — Continue Reading
With U.S. crude oil production on the rise, it’s clear the production agreement from OPEC hasn’t worked as intended, an economist in Texas said. The Organization of Petroleum Exporting Countries Continue Reading
Norwegian energy company DNO said its overall performance was stimulated by regular payments for oil exported from the Kurdish north of Iraq. Photo courtesy DNO Aug. 24 (UPI) — Revenues Continue Reading
Since many of the Western sanctions on Iran were lifted early last year, Tehran has been trying to restore its crude oil exports to a pre-sanction level and attract foreign Continue Reading
The focus is the company’s ability to pay bond interest due in two months. Doing so is crucial. But as of this morning, that prospect is dwindling. Along with it Continue Reading
Riyadh plans to surpass its commitment to generate 9.5 gigawatts of energy from renewables in order to boost its commitment to green energy and climate-friendly initiatives, according to a government Continue Reading
Iraq’s autonomous Kurdistan Regional Government (KRG) on Thursday gave extra project equity and profit payments to two of its earliest international oil investors to absolve outstanding debts – a deal Continue Reading
There is little doubt that Iraq’s mooted shift to using Dubai crude futures from long-standing price assessor Platts will shake up the trading of Middle East oil, but is it Continue Reading
The future stability of OPEC’s second-largest oil and gas producer could be decided by the end of 2017. Unrest is growing in Iraq as the Kurdish referendum grows nearer. Soon, Continue Reading
Report on electic grid touts value of coal-fired power Calls for ways to compensate reliability of coal, nuclear The Energy Department , in a long-anticipated report on the security of Continue Reading
The provincial economy in oil-rich Alberta is expected to grow faster than expected, though some metrics paint a mixed picture of the recovery, data show. The provincial government forecast growth Continue Reading
A federal appeals court has extended by 60 days the abeyance period for the Clean Power Plan litigation pending the Environmental Protection Agency’s review of that regulation. But in an Continue Reading
Dean Fantazzini has provided his latest estimates for Texas Oil and Natural Gas output. Data below is for Texas C+C estimates in kb/d. Data below is for Texas Natural Gas Continue Reading
Assets tied to shale producers, particularly those in America’s most-coveted oil field, have fallen this August thanks to concerns about oversupply. The good news for U.S. producers: the chief executive Continue Reading
What are the key assumptions for a ‘carbon-constrained scenario’? Electric vehicles (EV) constitute a very small share of all cars on the road worldwide. According to the International Energy Agency Continue Reading
The world’s biggest oil producers are starting to take electric vehicles seriously as a long-term threat, Bloomberg noted in July. OPEC quintupled its forecast for sales of plug-in EVs, and Continue Reading
On August 23, the U.S. Department of Energy released a highly anticipated study on the reliability of the U.S. electricity grid, the product of a review ordered by Secretary of Continue Reading
Tesla Inc ( TSLA.O ) next month plans to unveil an electric big-rig truck with a working range of 200 to 300 miles, Reuters has learned, a sign that the Continue Reading
German energy company E.ON said Thursday it laid the first of the 60 foundations for a wind farm development in national waters of the Baltic Sea. The German company said Continue Reading
A combined ice breaker and LNG tanker has crossed the northern sea route A commercial LNG tanker has sailed across the colder, northern route from Europe to Asia without the Continue Reading
Royal Dutch Shell plans to double the number of its retail gas stations in Russia from the current 227, Sergey Starodubtsev, the chief executive of Shell’s Russian unit, said on Continue Reading
British Gas has raised electricity prices by 12.5% and its rivals are likely to follow suit. Another round of inflation-busting increases has put calls for an energy price cap back Continue Reading
The NYMEX September natural gas futures contract rose 2.1 cents Thursday to settle at $2.949/MMBtu, as the US Energy Information Administration announced a lower-than-expected storage build for the week ended Continue Reading
Oil prices were little changed in early trade on Thursday, holding most of their gains from the previous session after another fall in U.S. crude inventories which is seen as Continue Reading
Oil prices flipped from losses to gains Wednesday as U.S. data showed that supplies of oil and gasoline fell and as investors tried to gauge the impact of a storm Continue Reading
Oil prices are rallying post-EIA report as today’s crude draw was joined by a drop in gasoline inventories. Although waterborne imports were strong last week, OPEC flows to the U.S. Continue Reading
Saudi Arabia IPO of Aramco is expected to make it the world’s largest company by market capitalization. Saudi Arabia’s plan to list Saudi Arabian Oil Co. is sending other Middle Continue Reading
Weighing in on oil price uncertainty, market watchers have been in a state of confusion over varying reports over the past three days as to the status of exports from Continue Reading
Qatar supplies 20 percent of Britain’s natural gas. Just in the past four weeks, British ports have received one million meters worth of scheduled gas orders, according to the Middle Continue Reading
The Nigerian subsidiary of Royal Dutch Shell said Wednesday that hundreds of thousands of new barrels of product are expected from a project in the Niger Delta. Shell said it Continue Reading
Natural gas has been hailed as the bridge between fossil fuels and renewables. Global gas demand has been growing at an average annual 2.3 percent over the last ten years, Continue Reading
Clashes between opposition protesters and the Bolivarian National Guard in Barquisimeto, Venezuela last month. Venezuelan bond prices tumbled Wednesday as traders grappled with the prospect that U.S. sanctions could restrict Continue Reading
U.S. shale has taken a lot of headline space recently as the biggest headwind for oil prices and the highest stumbling block for OPEC’s efforts to prop them up by Continue Reading
Late last month, executives from more than a dozen top European companies in China met in Beijing to discuss their concerns about the growing role of the ruling Communist Party Continue Reading
