NatGas Prices Aren’t Going Anywhere Fast
With the recent crude oil rally that brought WTI to a five-month high, it’s only fitting to have a look at what’s happening with natural gas. By the looks of Continue Reading
US Shale, End Of OPEC Cuts Could Stifle Oil Prices In 2018
Although current supply and demand fundamentals point to a possible rise in oil prices by the end of 2017, next year’s supply will likely outgrow demand and depress oil prices Continue Reading
Share value for giant Israeli gas field revised higher
The value present in the Leviathan gas field off the coast of Israel was revised higher for one of the drilling partners, an independent review found. Delek Drilling, an Israeli Continue Reading
Saudi reverse on women drivers propelled by economics
Over the years Saudi officials became so accustomed to being asked by foreign dignitaries and journalists when women would be allowed to drive that they developed increasingly tortuous excuses. They Continue Reading
Kurds Back Independence by 92% in Referendum; Iraq May Send Troops
Iraq’s Parliament asked the country’s prime minister on Wednesday to deploy troops to a disputed area held by Kurdish forces, its latest retaliation against a referendum in which the autonomous Continue Reading
Saudi Arabia’s Mega Bond Sale Sets Clock Ticking on Change
Saudi Arabia has set out an extraordinarily ambitious plan to transform its economy and reduce its huge reliance on oil. Saudi Arabia has been forced by the collapse of oil Continue Reading
Baghdad digs in against KRG referendum
Lawmakers in Baghdad issued a 13-point directive Wednesday calling on Prime Minister Haidar al-Abadi to impose federal authority over ports of entry and disputed territory controlled by the autonomous Kurdistan Continue Reading
Uganda plans to join OPEC after first oil fields flow in 2020: minister
Uganda will seek to join OPEC once the East African nation starts pumping crude out from Lake Albert oil fields along the western border with the Democratic Republic of Congo Continue Reading
Oil Analysts Baffled As Venezuela Ditches Petrodollar
At the end of August, the U.S. stepped up sanctions on Venezuela, prohibiting dealings in new debt or equity issued by state oil firm Petroleos de Venezuela SA (PDVSA) or Continue Reading
China’s Crude Oil, Product Inventories Drop
Chinese crude oil inventories declined by 3.42 percent in August over July, to stand at 29.79 million tons, official Xinhua News Agency reports, in a sign that oil demand growth Continue Reading
China’s CEFC wins preliminary government approval for Rosneft deal: sources
Privately-run conglomerate CEFC China Energy has obtained preliminary state approval for its proposed $9.1 billion investment in Russian oil major Rosneft ( ROSN.MM ), three sources with knowledge of the Continue Reading
Chinese coal-fired electricity generation expected to flatten as mix shifts to renewables
Coal-fired electricity generation in China, the world’s largest coal consumer, is expected to remain flat through 2040, according to EIA’s International Energy Outlook 2017 (IEO2017). Other fuels, such as renewables, Continue Reading
JingChi raises $52M in Pre-A round to fuel growth and development of autonomous fleets for US and China
JingChi Inc. has completed a combined $52-million pre-A investment round from lead investor Qiming Venture, strategic investor NVIDIA GPU Ventures, and a consortium of other investors. The investment allows JingChi Continue Reading
U.S. fuel exports recover after Harvey, offering buyers respite
Fuel exports from the U.S. Gulf Coast are rising rapidly as refineries recover from weeks of disruptions due to Hurricane Harvey, offering respite to buyers in Latin America and Europe. Continue Reading
U.S. crude stockpiles drop as refineries restart after Harvey: EIA
U.S. crude oil inventories fell unexpectedly last week as refineries hiked output due to restarts following Hurricane Harvey and exports soared, while gasoline stockpiles posted a surprise build, the Energy Continue Reading
Visualizing The Massive Impact Of EVs On Commodities
It’s obviously a thought experiment, since right now EVs have close to just 1 percent market share worldwide. We’re still years away from EVs even hitting double-digit demand on a Continue Reading
Regulator: Duvernay Field Holds Canada’s Biggest Shale Oil Resources
The Duvernay field in Canada’s western province of Alberta holds the country’s largest marketable resources of unconventional light shale oil and condensate, according to a new report from the national Continue Reading
Electric Vehicles And The 5 Trillion Dollar Market Transition
Every week, the assumptions about the future of transportation, and the energy systems that turn our wheels, are becoming more Jetson-esque. The excitement is palpable and as a technology junkie Continue Reading
Summary of Weekly Petroleum Data for the Week Ending September 22, 2017
U.S. crude oil refinery inputs averaged about 16.2 million barrels per day during the week ending September 22, 2017, 1.0 million barrels per day more than the previous week’s average. Continue Reading
Europe still needs us, Gazprom says
Russian energy company Gazprom said that, because of dwindling resources of its own, the European market was still largely dependent on its natural gas. The board of directors at the Continue Reading
Large Dutch Gas Find Could Be Even Bigger After Positive Drilling Results
A large gas discovery in the Dutch North Sea could be even bigger after an exploration drill beat expectations, one of the companies involved said, a shot in the arm Continue Reading
Oil Prices Inch Higher After Surprise Crude Draw
The American Petroleum Institute (API) reported a draw of 761,000 barrels in United States crude oil inventories, compared to analyst expectations that inventories would build by 3.422 million barrels for Continue Reading
Oil prices gain after U.S. inventories unexpectedly draw amid rising demand
Oil prices rose on Wednesday, with the Brent benchmark hovering near a 26-month high hit in the previous session, after U.S. oil inventories unexpectedly declined as refiners raised output and Continue Reading
Oil Prices Dip, but Bullish Sentiment Persists
Oil prices gave up some of Monday’s record gains on Tuesday, as investors cashed in on an increasingly bullish market. Brent crude, the global benchmark, was down 0.62%, at $58.07 Continue Reading
Strong growth in fuel demand accelerates oil market rebalancing
Strong oil demand growth in emerging economies led by China and India, but also from Europe, is drawing down oil stockpiles faster than expected, putting the global market firmly on Continue Reading
Robust Demand Could Send Oil Prices Above $60
Healthy demand growth for fuel not only in emerging economies led by China and India, but also in Europe, is helping global inventories to draw down faster now, keeping the Continue Reading
$60 Oil Enters The Realm Of Possibility
China and India will account for much of the growth in energy consumption for the next few decades, but the EIA says that energy consumption will also rise sharply in Continue Reading
‘Lower for longer’ oil price era almost over, Trafigura says
One of the world’s biggest commodities traders says the “lower for longer” era of low oil prices is nearing an end, as Brent crude approaches a more than two-year high Continue Reading
What The Peak Oil Demand Group Is Missing
Summary Demand for oil has increased every single year since the 2008 recession. In spite of EV sales, the global non-EV fleet keeps increasing. Rapid, or even rabid, growth will Continue Reading
Saudi king issues decree allowing women to drive: state media
Saudi King Salman on Tuesday ordered that women be allowed to drive cars, state media said, ending the conservative Islamic kingdom’s status as the only country where that is forbidden. Continue Reading
Iraq warns Kurds as they claim victory in independence vote
Iraq’s prime minister on Tuesday ordered the Kurdish region to hand over control of its airports to federal authorities or face a flight ban, as the Kurds claimed victory for Continue Reading
U.S. dismayed by Kurdish vote
The U.S. State Department said it was dismayed by a decision from the Kurdish government in Iraq to move ahead with a referendum for independence. Photo by Gailan Haji/EPA Sept. Continue Reading
Iraq Orders Kurdistan to Surrender Its Airports
Iraq’s prime minister on Tuesday, angered by a vote on independence by his nation’s Kurdish minority, gave the country’s Kurdish region until Friday to surrender control of its two international Continue Reading
Oil Back in Bull Market as Kurdish Vote Amplifies Supply Risk
Turkey says can halt Kurdish exports amid independence vote Supply gap could emerge in market as early as 2018: Citigroup U.S. crude was back in a bull market Tuesday as Continue Reading
Saudi Aramco to venture into non-Saudi crude oil trading: sources
Saudi Aramco’s trading arm will start trading non-Saudi crude oil to mainly feed its international joint ventures as the world’s largest oil exporter seeks to optimize profits, industry sources familiar Continue Reading
Kurdish Vote Won’t Spark A Sustained Oil Price Rally
Turkey and Iraq have stepped up the pressure on Kurdistan after the semi-autonomous region of Iraq voted for independence. Turkey’s President Recep Tayyip Erdogan threatened to block Kurdish oil exports Continue Reading
Kuwait Greenlights Game-Changing Gas Fields Project After Years of Delay
Kuwait is green-lighting the development of non-associated gas fields after seven years of delays, according to a new report by S&P Global Platts, in a move that would more than Continue Reading
Nigeria’s NNPC expects force majeure on Bonny Light to be lifted ‘very soon’
State-owned Nigerian National Petroleum Corporation expects the force majeure on Nigeria’s Bonny Light crude to be lifted “very soon,” Mele Kyari, group general manager of NNPC’s crude oil marketing division Continue Reading
Chinese Economy Has ‘Darker Story’ Ahead, China Beige Book Says
Industrial profits jump 24% in August as capacity curbs bite Survey of executives questions government progess on reforms The world’s second-largest economy keeps on delivering positive surprises this year, such Continue Reading
Growth prospects for energy-hungry Asia revised higher
Growth in the developed economies of Asia should continue, especially if crude oil prices stay at moderate levels, the Asian Development Bank said. “Growth prospects for developing Asia are looking Continue Reading
U.S. crude exports to Asia may shake up global oil pricing: Russell
The great disruptor that is U.S. shale oil is coming to Asia, as refiners in the energy-hungry region look to expand and diversify their sources of crude, and the consequences Continue Reading
Erase fracking regulations, industry tells Trump
With a court dismissing a challenge to federal rules on hydraulic fracturing, producers said it was time for President Trump to erase the law altogether. “The industry recognizes that every Continue Reading
U.S. gas prices in some markets at pre-Harvey levels
U.S. retail gasoline prices may slide back into seasonal declines as the refinery sector moves toward pre- Hurricane Harvey status, market reports show. A federal report shows one refinery in Continue Reading
Texas oil production slightly lower, early data show
Crude oil production reported to the state energy regulator in Texas for July was slightly lower than last year, preliminary data show. Texas is the No. 1 oil producer in Continue Reading
US oil producers lock in prices after crude’s rally
North American oil producers have pounced on the recent rise in crude prices to lock in sales at current levels, something that could safeguard prospective shale output in the face Continue Reading
Trump administration officials push to quicken pipeline permitting
US Energy Secretary Rick Perry and Interior Secretary Ryan Zinke said Monday the Trump administration is focused on quickening the pace of oil and natural gas pipeline permitting as it Continue Reading
The Trump administration will not grant a Jones Act waiver for
The Trump administration will not grant a Jones Act waiver for oil , refined products and other commodities being shipped into Puerto Rico as the island works to rebuild following Continue Reading
Hurricane Maria Hits US Refineries Without Touching Land
Hurricanes sometimes don’t need to make landfall to cause problems for U.S. refineries. At least two East Coast refineries are making less gasoline and diesel as rough Atlantic seas hamper Continue Reading
Total Expects Port Arthur Refinery Production Return Soon
Total SA expects production soon from its 225,500-barrel-per-day (bpd) Port Arthur, Texas, refinery, which has been shut since an Aug. 30 power outage during Tropical Storm Harvey, a company spokeswoman Continue Reading
Researchers find consumers compensate for fuel-efficient car by buying bigger second vehicle; losing 60% of fuel economy savings
An analysis by a team from the University of California, Davis, MIT and Yale suggests that households that buy a fuel-efficient vehicle tend to compensate for that purchase by buying Continue Reading