U.S. Braces For Second Major Hurricane In Two Weeks
Hurricane Irma has reached category 5-level winds, according to the latest reports from the Atlantic Ocean. If it hits land near Texas, it could destroy an oil and gas network Continue Reading
Oil markets subdued by storm Harvey fallout; Hurricane Irma heads into Caribbean
Oil market trading was cautious on Wednesday, with crude demand and shipments subdued due to refinery closures following Storm Harvey and the arrival of an even bigger hurricane in the Continue Reading
Crude prices rebound, gasoline slides as U.S. refineries restart
Crude oil prices rose and gasoline fell by about 3 percent on Tuesday as the gradual restart of refineries in the U.S. Gulf that were shut by Hurricane Harvey raised Continue Reading
OPEC provides market assurances post-Harvey
Hurricane Harvey hit the United States after two years of oil sector declines and OPEC is ready to ensure the market is stable, its secretary general said. Parts of the Continue Reading
Qatar says new port will help circumvent Arab sanctions
HAMAD PORT, Qatar (Reuters) – Qatar inaugurated a new $7.4 billion port along its Gulf coast on Tuesday that officials said would become a regional transport hub and help shield Continue Reading
Oil revenues up, but August exports dip
Iraq is averaging higher-than-expected oil prices so far this year, but is struggling to maintain export volumes as a result of OPEC cuts and disputes with Kurdistan. A worker from Continue Reading
Largest U.S. refinery restarting after Harvey
Motiva Enterprises [MOTIV.UL] said on Tuesday it was in the initial phase of restarting its Port Arthur, Texas, refinery, the nation’s largest crude oil refinery after it was shut by Continue Reading
Exxon says making progress on reopening Baytown refinery
Exxon Mobil Corp said on Tuesday it continues to work to reopen its 560,500-barrel-per-day Baytown, Texas, refinery and has made “significant progress” in restarting its chemical facilities after Hurricane Harvey Continue Reading
Big Energy Backs Hydrogen Power Storage
Projects seek to hold electricity for weeks or months Technology remains expensive, may take decades to develop The secret to switching the global energy system entirely to renewables may lay Continue Reading
Oil fading as an energy source because of electric vehicles
The global demand for oil will peak within the next five years, driven largely by the increased market presence of electric vehicles, a top energy consultancy said. DNV GL, a Continue Reading
Tesla’s New Frontier: Batteries And Wind
Electric car builder Tesla and wind turbine manufacturer Vestas have combined forces to create an energy storage system based on wind power View full article at oilprice.com
Goldman: Post-Harvey Reconstruction To Boost U.S. Oil Demand
As devastating as Hurricane Harvey was to Texas, reconstruction is now expected to be ultimately positive for U.S. oil demand in a few months as fuel consumption is expected to Continue Reading
Peak oil demand in 2022
Energy demand will plateau after 2030, according to a new DNV GL (stand 5B51) model which forecasts the pace and extent of the global energy transition until 2050. While fossil Continue Reading
Hurricane Irma Could Destroy Oil Demand
About half of the shuttered refining capacity along the Gulf Coast could be back up and running by Thursday, assuaging concerns about the possibility of acute gasoline shortages in much Continue Reading
Nissan unveils new LEAF; 150-mile range; high-power variant with larger battery in 2019
Nissan revealed the Nissan LEAF electric vehicles in a global launch event in Yokohama, followed by its North American debut at a media event in Las Vegas. The new LEAF Continue Reading
Colonial Pipeline restarts gasoline Line 1
Colonial Pipeline, the largest US refined products pipeline, resumed gasoline shipments on its Line 1 from Houston and Pasadena, Texas, the company said Tuesday. That returned the full system to Continue Reading
Natural Gas: Production back to near pre-Harvey levels
Offshore US Gulf of Mexico natural gas production continued to return to pre-Hurricane Harvey levels as crews returned to platforms Tuesday, while onshore producers and midstream companies said they were Continue Reading
Cost to develop giant Johan Sverdrup field in Norway moves lower
Norwegian energy company Statoil said the coast to develop the first half of its mega Johan Sverdrup oil field went down by about 5 percent. Johan Sverdrup is one of Continue Reading
Russia’s energy minister sees 2018 oil price in range of $45-$55/barrel
Russian Energy Minister Alexander Novak speaks during a news conference of the 4th OPEC-Non-OPEC Ministerial Monitoring Committee in St. Petersburg, Russia, July 24, 2017. REUTERS/Anton Vaganov VLADIVOSTOK, Russia (Reuters) – Continue Reading
Russia’s Novak says to consider extension of oil cut deal if glut persists
Russian Energy Minister Alexander Novak said on Wednesday that Moscow would consider extending a deal with OPEC and other producers to cut oil production further into next year if a Continue Reading
Chinese conglomerate in talks over Rosneft investment
CEFC China Energy is in talks to invest in Russia’s state-controlled oil company Rosneft, in what would be a sign of strengthening economic co-operation between Moscow and Beijing even as Continue Reading
Can Russia Develop Its Shale Reserves?
Russia’s tight oil will play an increasingly important role in its oil output, underpinned by the fact that 20 percent of its current reserves already belong to the “tight” category. Continue Reading
Texas moves toward post-Harvey recovery; gas prices slip
Texas on Monday edged toward recovery from the devastation of Hurricane Harvey as shipping channels, oil pipelines and refineries restarted some operations and authorities lifted an evacuation order for the Continue Reading
U.S. gasoline prices slip as oil industry bounces back from Harvey
U.S. gasoline prices fell on Monday as the nation’s oil heartland continued to claw its way back from the devastation wrought by Storm Harvey, with shipping channels, pipelines and refineries Continue Reading
A War With North Korea Could Send Oil Prices Skyrocketing
An open military conflict in Northern Asia would disrupt more than a third of global seaborne crude oil trade, Wood Mackenzie warned last week amid yet another escalation between North Continue Reading
Goldman Sachs: Oil Majors See Upside At $50 Oil
Although oil prices are now half what they used to be three years ago, Big Oil is better positioned now than it was when oil prices were sky high, Michele Continue Reading
No need to consider release of oil stocks after Harvey: IEA
The International Energy Agency (IEA) still sees no need for a coordinated international release of oil stocks after Hurricane Harvey disrupted a large chunk of U.S. refining and some production Continue Reading
Iran says OPEC compliance with output pact increasing
OPEC members’ compliance with the agreement to reduce output has improved in recent months, Iran’s oil minister said on Monday, noting that unofficial talks were underway among the oil producing Continue Reading
OPEC invites Libya, Nigeria to committee meeting Sep 22
Libya and Nigeria, the two OPEC members exempt from the current oil production cut deal, have been invited to participate in the producer group’s latest ministerial committee meeting September 22. Continue Reading
Market Movers Europe, Sep 4-8: Harvey pushes European crack spreads to two year highs
In the European gasoline market, prices soared by more than 50% last week as traders rushed cargoes across the Atlantic in response to supply problems caused by Tropical Storm Harvey. Continue Reading
Exclusive: India to bid for Israel oil-and-gas exploration blocks – minister
Indian state-run Oil and Natural Gas Corp plans to bid for Israeli offshore oil-and-gas exploration blocks, India’s oil minister told Reuters, the first major deal between the two countries since Continue Reading
Coal crunch sees China’s rustbelt exposed to risk of winter power, heat cuts
China’s northeastern industrial heartland may face winter power and heating cuts after authorities in Beijing spurned requests from provincial providers for help securing coal supplies after two major mines were Continue Reading
Ship traffic could resume Tuesday at Port Arthur, Texas: U.S. Coast Guard
The U.S. Coast Guard on Monday allowed some barge traffic to enter Port Arthur, Texas, home of the country’s largest oil refinery, and is considering allowing ships to enter on Continue Reading
Valero Port Arthur refinery restarting multiple units: filing
Valero Energy Corp was restarting multiple units at its 335,000 barrel per day (bpd) Port Arthur, Texas, refinery on Monday, according to a notice filed with the Texas Commission on Continue Reading
Insolvencies Jump In Canada’s Oil Country
Canada’s oil-producing regions saw the highest increase in insolvencies over the 12 months to June 2017, according to the latest insolvency report by the federal government. Total insolvencies in Alberta Continue Reading
These Numbers Suggest Yet Another Surge In The Permian
The Permian is the heart of modern oil and gas activity, with well over 300 rigs operating and tremendous growth set to continue. But companies need to continuously drill new Continue Reading
U.S. Oil Inventories Set To Spike After Hurricane Harvey
The people along the coast of Texas are trying to assess the implications of the toxic stew that Hurricane Harvey unleashed, with exploding chemical plants and flooded superfund sites threatening Continue Reading
Gas: About 8.1% of Gulf of Mexico output remains offline
Houston and the Gulf Coast region of Texas continued to dry out Monday following the days of historic flooding that Harvey delivered. The storm made landfall as a hurricane, but Continue Reading
Gazprom’s Gas Dominance Grows In Europe
It is doubtful that there could be a less appropriate time to increase Russian gas exports to Europe, yet that is exactly what Gazprom is doing. Despite sanctions from both Continue Reading
Brent crude oil falls after North Korea nuclear test
Oil prices fell on Monday after a powerful North Korean nuclear test explosion triggered a flight of investors away from crude markets and into gold futures, which are seen as Continue Reading
How EIA Guestimates Keep Oil Price Subdued
The EIA has once again undercut its previous estimates for U.S. oil production, offering further evidence that the U.S. shale industry is not producing as much as everyone thinks. The Continue Reading
Is Egyptian Oil Set For A Rebound?
This week Egypt signed three major exploration deals with oil giants Royal Dutch Shell and Apex worth at least $81.4 million. The hefty international contracts will kickstart a large-scale oil Continue Reading
In Venezuela, Cooking With Firewood as Currency Collapses
Food shortages were already common in Venezuela, so Tabata Soler knew painfully well how to navigate the country’s black market stalls to get basics like eggs and sugar. But then Continue Reading
Brazil Aims To Privatize State-Owned Utility Company
Imagine the setting. A conference room full of senior politicians. “The tapes are bad”, one says. “A lot of stuff about bribes”. Another adds, “Yeah, and we’re polling in the Continue Reading
China’s Shangdong independent refineries plan to consolidate; analysts skeptical
Independent refineries holding crude import quotas in China’s Shangdong province are planning to consolidate into a single corporate entity, a move that would help to optimize their entire value chain, Continue Reading
China’s new energy vehicle industry on fast lane for growth
China’s new energy vehicle (NEV) industry has seen rapid growth in the past few years, with growing sales and an improved industry ecosystem, according to an industry association. Production and Continue Reading
If $26 oil doesn’t do us in, 52 inches of rain won’t either
Frenzied motorists scrambled to find gasoline in Dallas-Fort Worth as reports of imminent shortages spread on social media, fueled by refinery and pipeline shutdowns along the energy-rich Texas Gulf Coast. Continue Reading
Subsidizing new nuclear power such as Vogtle reactors in nation’s interest
Adding two new nuclear reactors at Plant Vogtle is going to need some help from Congress and the federal government to work, according to Georgia Power’s request to continue. And Continue Reading
Natural gas : Production recovery continues
Gulf of Mexico offshore gas production continued to rebound Sunday in the aftermath of Hurricane Harvey. The Bureau of Safety and Environmental Enforcement said about 271.4 MMcf/d of gas was Continue Reading
As the US recovers from Harvey, what’s next? – Fuel for Thought
Share The shale revolution has dramatically transformed this country’s energy landscape, making the US an exporter of crude, products and LNG—a far cry from the situation 12 years ago when Continue Reading