Texas rig permitting nearly doubles from 2016
Accounting for about half of all the active rigs in the United States, the energy regulator in Texas said total drilling permits nearly doubled from last year. The Railroad Commission Continue Reading
New Orleans Scrambling to Fix Drainage System Following Heavy Rains
Workers in New Orleans raced Friday to repair a broken power turbine that provides electricity for the city’s troubled drainage system and slowly brought it back online—ahead of more possible Continue Reading
Students, Cities and States Take the Climate Fight to Court
Can the courts fix climate change? Several groups and individuals around the United States have gone to court to try to do what the Trump administration has so far declined to Continue Reading
Oil Rig Count Rises Despite Ballooning Shale Debt
The number of active oil and gas rigs in the United States rose this week by 5 rigs as drillers in the United States continue to add rigs in defiance Continue Reading
Siemens building first stretch of eHighway on public roads in Germany
Siemens has been commissioned by the German state of Hesse to build an overhead contact line for electrified freight transport on a ten-kilometer stretch of autobahn. The line will supply Continue Reading
The Arrival Of Peak Oil Demand And The Final Days For Oil
Summary There are greater threats to the outlook for oil than growing OPEC or U.S. shale oil production. Peak demand growth for oil will arrive faster than commonly considered. Renewable Continue Reading
Oil Futures Point To Higher Oil Prices
The EIA reported another strong week of inventory declines in its most recent data release, revealing a drawdown of 6.5 million barrels for the week ending on August 4. That Continue Reading
Oil prices drop as oversupply concerns linger
Oil prices fell on Friday, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories. Investors were also keeping a close eye on the broad market Continue Reading
Oil Drops After Failure to Hold $50 Even as Stockpiles Shrink
OPEC boosts oil-demand outlook, yet group’s output increases In the U.S., crude stockpiles have dropped six straight weeks Oil retreated to the lowest level in more than two weeks after Continue Reading
Oil market marches on toward backwardation
Oil traders are increasingly convinced the market will rebalance over the next year with a major drawdown in crude and products stocks. Conviction about market rebalancing is showing in a Continue Reading
Graphic: Oil bulls party like it’s 2014 and $100 a barrel
Brent crude futures finally bear the hallmarks of a market in which supply and demand are falling into balance, although the last time this happened, it was 2014 and the Continue Reading
IEA says strong oil demand growth helps market’s rebalancing
Global oil demand will grow more quickly than expected this year, helping to ease a glut despite rising crude production from North America and weak OPEC compliance with output cuts, Continue Reading
Global Nuclear Power Capacity Could Double By 2050
The world’s installed nuclear power capacity could increase by 123 percent in 2050 compared to 2016 levels, the International Atomic Energy Agency (IAEA) said in a report this week. These Continue Reading
OPEC output climbed 173,000 b/d in July
Total crude oil production from the Organization of Petroleum Exporting Countries increased 173,000 b/d month-over-month in July to average 32.87 million b/d, according to five secondary sources used in the Continue Reading
OPEC sees higher 2018 oil demand, points to easing glut
OPEC forecast higher demand for its crude in 2018 on Thursday due to rising global consumption, and pointed to signs of a stronger oil market that suggest an OPEC-led production Continue Reading
Iraq, Saudi Arabia express full commitment to OPEC balancing act
Oil production from Iraq and Saudi Arabia will remain subdued until the markets reach a target level that indicates a balanced market, leaders said. Saudi Prince Mohammed bin Salman bin Continue Reading
OPEC Says Crude Output Rose in July
OPEC crude oil production rose further in July, in the latest sign the cartel’s efforts to reduce output and drain a global supply glut are falling short. The Organization of Continue Reading
OPEC Deal In Jeopardy As Exempted Nations Boost Output
All data is through July 2017 and is in thousand barrels per day. (Click to enlarge) The above chart does not include the 14th member of OPEC that was just Continue Reading
Oil Glut Endures As OPEC Confirms Higher Output
OPEC confirmed reports that its crude oil production increase last month, reporting a daily rate of 32.869 million barrels, up by 172,600 bpd. Global commercial oil stocks in the OECD Continue Reading
Ex Minister: Unused Iraq-Saudi Pipeline Should Reopen
Iraq needs to regain access to a pipeline that was used in the past to export Iraqi crude oil via Saudi Arabia, according to Parliament member and former Iraqi oil Continue Reading
Saudi’s Falih doesn’t rule out more oil cuts but kingdom won’t take unilateral action: Al Sharq
Saudi Arabia’s Energy Minister Khalid al-Falih does not rule out another oil production cut but stressed that the kingdom will not take any unilateral action, the Saudi-owned Al Sharq Al Continue Reading
Indian Oil Obtains Govt Approval To Import U.S. Oil Every Month
India’s biggest refiner, Indian Oil Corp, has secured government permission to import one very large crude carrier (VCCC) of U.S. crude oil every month this year, as Indian firms started Continue Reading
India’s refiners bet big on petrochemicals as industry reshapes
India’s state oil refiners – long focused on churning out transport and cooking fuels – are planning a $35 billion push into petrochemicals to meet an expected surge in demand Continue Reading
China Prepares For A Natural Gas Import Boom
Last month, the International Energy Agency said that China will account for 40 percent of the global annual growth in natural gas demand over the next five years. Imports of Continue Reading
Inside the Fall, and Rebirth, of a Bill Gates–Backed Battery Startup
Aquion Energy’s abrupt bankruptcy filing in March left industry observers wondering what went so wrong, so quickly at the promising grid-battery startup. But now that the company has emerged from Continue Reading
America’s Other Coal Job, Ignored by Politicians, Is Dying Fast
Coal-fired power plants are shutting down or shedding staff Trader sees coal ‘going to zero’; workers cite safety risks A couple months ago, Donald Trump was cheering a new coal Continue Reading
British Columbia Vows to Block Pipeline Expansion
The government of British Columbia, Canada’s westernmost province, vowed Thursday to use every legal option to stop construction of Kinder Morgan Inc.’s planned expansion of a pipeline connecting the Alberta Continue Reading
United States expected to become a net exporter of natural gas this year
EIA’s latest Short-Term Energy Outlook projects that the United States will export more natural gas than it imports in 2017. The United States has been a net exporter for three Continue Reading
Oil rises as inventory overhang erodes and Saudi cuts exports
Oil prices rose on Thursday, lifted by a sustained decline in inventories and as Saudi Arabia prepared to cut crude supplies to its prized Asian customers. Crude is down nearly Continue Reading
Are Oil Bulls About To Be Burned Again?
Oil investors have grown more optimistic as of late, as oil prices have moved back to $50 per barrel. The market appears to be on sounder footing, suggesting that things Continue Reading
Geopolitical tension in the driver’s seat for oil prices
Crude oil prices were on solid black territory in early Wednesday trading as geopolitical tensions escalated between the United States and North Korea . Crude oil prices drifted into negative Continue Reading
Venezuela’s neighbours try to put financial pressure on Maduro
In a move that may have significant economic repercussions, a group of 12 countries from across the Americas refused on Tuesday to recognise Venezuela’s new constituent assembly or any laws Continue Reading
China’s smog crackdown roils niche commodities markets
China’s push for blue skies is roiling supplies and boosting prices of key raw materials from soymeal to ferroalloys as the government ramps up smog checks and forces some factories Continue Reading
U.S. could be world’s No. 3 LNG exporter
The potential exists for the United States to become the third-largest exporter of liquefied natural gas in a few short years, a federal report finds. Photo courtesy of Cheniere Energy Continue Reading
Coal production gains slowing, U.S. report finds
Coal is in the rise in the first months of the Trump presidency, but renewable energy showing momentum in its own right. File photo by Kevin Dietsch/UPI Aug. 9 (UPI) Continue Reading
Continental Resources says it will do more with less
Continental Resources, one of the larger U.S. shale players, said it would be cash neutral in the current market, but raised its forecast for annual production. Continental is active in Continue Reading
Investors Question Oil Output in Permian Basin, America’s Fastest-Growing Field
Investors helped turn West Texas’ Permian Basin into America’s fastest-growing oil field, but their confidence is cracking over whether drillers can keep production rising. Questions mounted last week after Pioneer Natural Continue Reading
It wasn’t even a hurricane, but heavy rains flooded New Orleans as pumps faltered
After Hurricane Katrina destroyed his house and forced him to flee to nearby Baton Rouge, Ronald Williams spent a dozen years waiting for the right time to go home. Seven Continue Reading
Summary of Weekly Petroleum Data for the Week Ending August 4, 2017
U.S. crude oil refinery inputs averaged 17.6 million barrels per day during the week ending August 4, 2017, 166,000 barrels per day more than the previous week’s average. Refineries operated Continue Reading
Tech Guru Unveils New Battery To Challenge Lithium-Ion
The rise of electric vehicles and the quest to find solutions to energy storage for the renewables industry have created a breeding ground for tech experts to develop battery technologies. Continue Reading
Big Oil Might Be In Better Shape Than U.S. Shale
For much of the past three years, the oil majors have struggled to adapt to the new reality of low oil prices, while at the same time, their smaller and Continue Reading
Kemp: US Shale Breakeven Price Revealed Around $50
U.S. shale producers need a WTI oil price around $50 per barrel to break even, according to an analysis of financial statements for the second quarter. Fifteen of the largest Continue Reading
This Hurricane Season May Generate as Many as 19 Atlantic Storms
The Atlantic hurricane season will probably end with an above-average 14 to 19 named storms that can rattle energy and agriculture markets now that it is almost certain a system-deterring Continue Reading
This $65 Billion Oil Opportunity Will Never Be Tapped
Western Europe’s biggest oil and gas producer, Norway, is also one of the countries that is most self-congratulatory on its climate action, electric cars sales, and green policies. One of Continue Reading
Oil falls for third day as doubts over OPEC cuts linger
Crude futures fell for a third day on Wednesday despite a bigger than expected drop in U.S. oil inventories reported by an industry group, with doubts lingering over OPEC’s ability Continue Reading
OPEC’s uphill effort leaves oil prices in negative territory
Crude oil prices move into negative territory early Monday as some market analysts say they’re seeing a ceiling start to emerge over the recent rally. File photo by Monika Graff/UPI Continue Reading
OPEC holds second day of compliance talks, to issue statement: sources
OPEC and non-OPEC officials were holding a second day of meetings in Abu Dhabi to discuss ways to boost compliance with their oil output-cutting pact, sources familiar with the talks Continue Reading
Why Trump Won’t Tear Apart The Iran Nuclear Deal
Last month, the U.S. government certified Iran’s compliance to the terms of the 2015 nuclear deal – a required approval mechanism that dictates the life or death of the deal, Continue Reading
OPEC holds second day of compliance talks, to issue statement: sources
OPEC and non-OPEC officials were holding a second day of meetings in Abu Dhabi to discuss ways to boost compliance with their oil output-cutting pact, sources familiar with the talks Continue Reading
Oil prices fall further as Libyan field resumes production
Oil prices slipped further in Asian trading on Tuesday following a recovery in output at Libya’s largest oil field and as doubts about OPEC-led production cuts continue to weigh on Continue Reading