Oil markets were mixed on Friday, with Brent crude supported by expectations that Saudi Arabia could cut its October supplies, while U.S. crude was weighed down by refinery outages due Continue Reading
While the headlines have been dominated by the devastation wrought by Hurricane Harvey, oil traders have quietly become more bullish, or at least less bearish, about 2018. Brent calendar spreads Continue Reading
OPEC exported 25.19 million bpd of crude oil last month, the lowest since April this year, Thomson Reuters Oil Research said , but the eight-month average for the year to Continue Reading
Saudi Arabia will cut crude oil allocations to its customers worldwide in October by 350,000 barrels per day, an industry source familiar with Saudi oil policy told Reuters on Thursday. Continue Reading
But some global buyers see an opportunity in the current market crisis. With one of the world’s largest investors this week making a leap into the sector. That’s the sovereign Continue Reading
Libya’s largest oil field resumed production after a halt of more than two weeks, putting pressure on OPEC and other producers seeking to rein in a global supply glut and Continue Reading
When oil giant Saudi Aramco discloses its financials for the first time next year, it must either surprise investors with world record profits or reduce its aspirations for a $2 Continue Reading
Norway’s DNO is teaming up with ExxonMobil and a state-backed Turkish company in Ninewa province’s Bashiqa block, under contract by Iraq’s autonomous Kurdistan region. “DNO will assume operatorship of the Continue Reading
Energy infrastructure in the Caribbean was being shut down due to Hurricane Irma, even as recovery operations from storm Harvey were under way. NuStar Energy said its Statia terminal in Continue Reading
Mexican President Enrique Pena Nieto said on Friday operations at the Salina Cruz refinery on Mexico’s southern coast were temporarily suspended as a precautionary measure following a major earthquake nearby. Continue Reading
Federal Government’s plans to increase crude oil production to four million barrels daily (bpd) will receive a boost, as the multi-billion dollar Egina Floating Production Storage and Offloading (FPSO) vessel, 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
The United States has proposed an oil embargo against North Korea enforced by the United Nations after Pyongyang authorized nuclear tests that violated several UN resolutions. Yi encouraged the global Continue Reading
ConocoPhillips is still shut out of its global headquarters nearly two weeks after Tropical Storm Harvey slammed into Houston, so Chief Executive Ryan Lance and thousands of employees are running Continue Reading
U.S. oil refinery utilization rates slumped 16.9 percentage points to 79.7 percent last week, the lowest rate since 2010, according to data released by the U.S. Energy Information Administration on Continue Reading
The state energy sector is the primary driver of the economic recovery underway in shale-rich Oklahoma, the head of the state treasurer said. Oklahoma is home to about 4 percent Continue Reading
While parts of the U.S. Gulf Coast are recovering from Hurricane Harvey, Irma’s move through the Caribbean is causing gasoline shortages, data tracking show. Refineries and production centers along the Continue Reading
U.S. crude oil refinery inputs averaged 14.5 million barrels per day during the week ending September 1, 2017, about 3.3 million barrels per day less than the previous week’s average. Continue Reading
Summary Despite Wall Street’s love for shale, the industry has not been able to support itself through internal cash generation. If Wall Street’s love affair with shale fades, the party Continue Reading
Summary Hurricane Harvey took offline over 50% of Texas’ refining capacity and shut down large percentage of the wells in the major Eagle Ford shale play. This week, Hurricane Irma Continue Reading
Oil and petrochemical plants along the U.S. Gulf Coast intend to go ahead with plans for near record spending on expansions next year, despite Hurricane Harvey driving up labor costs Continue Reading
TransCanada Corp ( TRP.TO ) will suspend the application for its Energy East pipeline for 30 days and may abandon the project, the company said on Thursday, weeks after Canada’s Continue Reading
I have worked for electric and gas utilities in other states, so I am interested in seeing a modern energy system developed in Virginia. I prefer to find solutions where Continue Reading
It is premature to decide on extending the global deal to reduce oil production as the oil market has been rebalancing, Russian Energy Minister Alexander Novak said on Thursday, according Continue Reading
Statoil, a Norwegian oil and gas company with a footprint in renewables, said the last of the 67 turbines at a wind facility off the British coast is in place. Continue Reading
Masami Iijima (L), chairman of the board of directors of Mitsui & Co., Ltd., signs a framework agreement on liquefied natural gas with Alexei Miller, the chairman of Russia’s Gazprom. Continue Reading
Nicola Sturgeon plans to ‘massively expand’ electric charging points in Scotland The Scottish government has pledged to phase out new petrol and diesel cars and vans across Scotland by 2032, Continue Reading
The oil majors issued a vote of confidence for the North Sea in recent days, citing precipitous declines in the cost of production, which they say will revive the region’s Continue Reading
Oil prices dipped on Thursday over fears that Hurricane Irma in the Caribbean could interrupt crude shipments in and out of the United States, and as Libyan output began to Continue Reading
Oil prices gained Wednesday on renewed demand as refineries in the Gulf Coast restarted operations. Light, sweet crude for October delivery rose 50 cents, or 1%, to $49.16 a barrel Continue Reading
Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the Continue Reading
While the aftermath of Hurricane Harvey continues to drive headlines in the energy sector, the attention will once again shift back to OPEC as the year wears on and we Continue Reading
Saudi Arabia is redrafting its main reform plan just over a year after its much-hyped launch, stripping out some areas earmarked for change and extending the timeline of other targets. Continue Reading
Libya’s largest oil field, Sharara, will resume production following a two-week halt, after a pipeline blockade ended yesterday. This is what an unnamed source from Libya’s oil industry told Reuters, Continue Reading
Hurricane Irma has shut down oil terminals across the northern Caribbean, worsening a fuel supply crunch in Latin American countries that have struggled to meet demand since Hurricane Harvey disrupted Continue Reading
The second round of NAFTA negotiations that concluded yesterday in Mexico City sought ways to enshrine the 2014 energy sector reforms that the Enrique Pena-Nieto government had launched to overhaul Continue Reading
Dutch supermajor Shell said it’s opened its first retail gasoline service station in Mexico, one of the largest gasoline markets in the world. Shell said it opened a service station Continue Reading
Shares in Tokyo Electric Power Co (Tepco), operator of the wrecked Fukushima nuclear plant, rose more than 3 percent on Thursday after media reports that it may get approval as Continue Reading
The American Petroleum Institute (API) reported a build of 2.791 million barrels in United States crude oil inventories, compared to analyst expectations of a build of 4.022 million barrels for Continue Reading
The investment bank says that despite hiccups for many EV models to date, Tesla’s success thus far “shows that the consumer preference for internal combustion engines can be swayed.” Morgan Continue Reading
Refineries were closed, pipelines shut down, tankers held out to sea. The price of fuel shot up as gas stations went dry across the country, while crude slumped with a Continue Reading
Production Production for June by BOEM was 1631 kbpd and by EIA 1636, compared with 1673 and 1659 kbpd, respectively, in May. The decline was mostly from Thunder Horse going Continue Reading
Cheniere Energy was preparing Wednesday to ship its first LNG export cargo from its Sabine Pass terminal in Louisiana since Harvey came ashore along the Gulf Coast as a powerful Continue Reading
Two wind farms in Texas will become the second- and third-largest facilities with extra storage capacity installed so far, a German power company said. German energy company E.ON said it Continue Reading
While flood waters are receding in parts of the U.S. south hit by Hurricane Harvey, it could take weeks for the energy sector to recover, assessments note. The National Weather Continue Reading
Bill Barrett Corp., which has a core focus in U.S. shale oil basins, said production for the year could be higher than expected because of Colorado’s success. Bill Barrett said Continue Reading
France plans to pass legislation by the end of 2017 to phase out all oil and gas exploration and production on its mainland and overseas territories by 2040, becoming the Continue Reading
The Latest news related to Hurricane Irma in Florida (all times local): 4:10 p.m. The Nuclear Regulatory Commission says it is preparing to shut down two Florida nuclear plants that Continue Reading
The French government said it was reviewing a bill that would put an end to new permits for oil and gas exploration in an effort to adopt a low-carbon economy. Continue Reading
A dispute with U.S. major ExxonMobil over the Sakhalin-1 oil and gas project has been resolved, Russian President Vladimir Putin said on Thursday. Speaking at a conference in the Russian Continue Reading
