Chesapeake Energy Corp said on Tuesday it expects a 15 percent drop in third-quarter production, partly blaming Hurricane Harvey, which forced the company to stop work in the Eagle Ford Continue Reading
The UK government’s July announcement that it will be banning the sale of petrol- and diesel-powered vehicles by 2040 is “meaningless” to Aston Martin CEO Andy Palmer. Government officials are Continue Reading
Russia’s top natural gas producer Gazprom said on Wednesday it saw scope for increasing gas exports to Europe and Turkey in the long term due to gas production declines in Continue Reading
Brent crude is holding above a more than two-year high of $59 a barrel, lifted by fast-growing demand and a threat to Iraqi Kurdistan’s crude exports as the autonomous region Continue Reading
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 oil demand growth in emerging economies led by China and India and even from Europe is drawing down oil stockpiles faster than expected, putting the global market firmly on Continue Reading
Global oil demand may be between 2 million to 4 million barrels per day more than worldwide crude supply by the end of 2019, an executive with commodities trading house Continue Reading
Yup, you heard it here first (or second, maybe even third), last week was the week that it all happened, the week that we can finally call the oil price Continue Reading
New York and London oil futures are sending very different signals to market players about the state of global supply balances, with U.S. contracts weak even as physical crude markets Continue Reading
Turkish President Tayyip Erdogan on Tuesday warned that Iraqi Kurds would go hungry if Turkey decides to halt the flow of trucks and oil across its border with northern Iraq, Continue Reading
Since it agreed to production cuts, OPEC stated that its mission is to see the oil futures curve flip from contango to backwardation as part of its work to erase Continue Reading
Turkey could cut off the crude oil flow from the northern Iraqi region of Kurdistan, Turkish President Recep Tayyip Erdogan said on Monday, putting further pressure on Kurdistan over what Continue Reading
Iraqi Kurdistan’s independence referendum Monday has returned its renegade oil industry to the spotlight, prompting Turkish President Recep Tayyip Erdoğan to threaten to cut off the region’s petroleum exports and Continue Reading
British energy company BP said it brought lessons learned from hydraulic fracturing in the United States to start production at a natural gas field in Oman. BP and the Omani Continue Reading
A source close to negotiations over an OPEC-led effort to balance the market with production cuts told Russian media Monday an extension was under review. The Organization of Petroleum Exporting Continue Reading
U.S.-backed Syrian forces have seized a Conoco gas plant from Islamic State in the oil-rich Deir Ezzor area, depriving the militants from an important revenue source. Kurdish-led Syrian Democratic Forces Continue Reading
It’s happy days for Opec, but once the whoops die down, the group should take a long hard look at itself. Because it has lost its crown as the world’s Continue Reading
Brazil will on Wednesday begin reversing what industry officials say was a costly and ultimately disastrous decision a decade ago: setting aside billions of barrels from the Western Hemisphere’s largest Continue Reading
The U.S. president needs to recertify the agreement every three months, with the latest deadline coming up on October 15. There’s speculation that this time around, President Trump won’t issue Continue Reading
Five years ago, the idea of OPEC and Russia working together on any oil and gas issue would have seemed absurd to any energy analyst worth his or her salt. Continue Reading
As RBC’s head of commodity strategy in New York, Ms. Croft is closely monitoring the mounting tensions to determine what they could mean for the Iranian nuclear agreement, and, thus, Continue Reading
Petrobras creditors have agreed to swap $6.22 billion in Petroleo Brasiliero bonds that are due between 2019 and 2021 for long-term securities, allowing Brazil’s state-owned oil company to lower its Continue Reading
Brazil’s oil auction this week will test whether a raft of market-friendly reforms under President Michel Temer can tempt investors back to a sector tarnished by a corruption scandal at Continue Reading
China’s state economic planner has revived a plan to create a national natural gas pipeline company, aiming to provide gas producers with better access to infrastructure to help increase take-up Continue Reading
A possible rule change by Beijing could make it easier for Tesla to manufacture its vehicles in China. SHANGHAI—China is considering relaxing rules requiring foreign auto makers to have a Continue Reading
The Permian Basin of Texas and New Mexico holds 60 billion to 70 billion barrels of yet-to-be pumped crude oil, according to a study by IHS Markit Ltd. The Permian Continue Reading
The lucrative Permian Basin still holds between 60 and 70 billion barrels of unharvested oil, IHS Markit Ltd said this week. The recoverable resources in the basin shared by Texas Continue Reading
Energy researchers at IHS Markit have completed the first, three-year phase of a massive Permian Basin research project that models and interprets the giant basin’s key geologic characteristics to better Continue Reading
South Korea plans to replace coal-fired power plants under construction with LNG-based power turbines in a bid to cut pollution, the government said in a statement Tuesday. It would also Continue Reading
Lawmakers in shale-rich Oklahoma meet Monday in a special session to help address budget strains that the governor said are critical. Gov. Mary Fallin said lawmakers are called on to Continue Reading
Glance at this chart of the trade-weighted U.S. dollar, and note the swing highs and lows in the price of oil per barrel around each peak and trough. You can Continue Reading
Back in 2011, the U.S. Department of Energy (DOE) began something called The SunShot Initiative . The intent was to set 2020 and 2030 targets making solar power more affordable Continue Reading
Russia’s Gazprom ranked no.1 in the 2017 S&P Global Platts Top 250 Global Energy Company Rankings, toppling ExxonMobil and ending its 12-year reign at the top spot, S&P Global Platts Continue Reading
Daimler Trucks North America (DTNA) is testing connected trucks in platooning operations on public roads in the US. In truck platooning, connectivity and automated driving improve safety within the vehicle Continue Reading
Damages sustained by Hurricane Harvey have forced the closure of one of CB&I’s facilities in Beaumont, Texas. The effects of Hurricane Harvey, the catastrophic storm that caused unprecedented rainfall and Continue Reading
The outlook for oil prices has not changed much in recent weeks. This opinion piece presents the opinions of the author. It does not necessarily reflect the views of Rigzone. Continue Reading
San Francisco and Oakland are suing Chevron , ConocoPhillips , ExxonMobil , BP and Royal Dutch Shell —the five biggest investor-owned fossil fuel producers in the world—over the costs of Continue Reading
U.S. shale producers are making more money now than at the time when oil prices were much higher as they have become more efficient, U.S. independent shale oil producer WPX Continue Reading
A massive surge in diesel fuel demand this year has been the main driver for higher crude oil consumption in 2017 along with buying to fill up strategic petroleum reserves, Continue Reading
Real-time electricity prices across the PJM Interconnection footprint Monday jumped to triple-digit territory as hot weather fueled power demand. Real-time power prices on the western side of PJM in the Continue Reading
The motor vehicle was very quick to replace horses in the early 20th century, and the advent of the electric car suggests that another profound shift in transportation and energy Continue Reading
What’s unusual, and unnerving, is that the Permian is still thrumming with activity after prices cratered for the stuff it pumps out. (Bloomberg) — Steve Pruett has seen more than Continue Reading
Oil prices stood little changed on Monday, keeping most of their gains from the previous session to hold near their highest levels in months, as major producers meeting in Vienna Continue Reading
Emerging markets are set to eclipse developed nations next year in their capacity to generate wind and solar power as equipment costs fall and the energy market approaches “peak coal”, Continue Reading
OPEC’s compliance with an agreement among oil producers to reduce output has been acceptable, Iran’s oil minister said on Monday, adding that some changes were needed if participants seek to Continue Reading
OPEC met on Friday to review the progress of their work over the past 9 months, assessing whether or not they should extend their current production cuts beyond the March Continue Reading
Poll on statehood opposed by Iraq, Iran, Turkey, U.S. Kurdish officials not expected to push for immediate secession Iraqi Kurds went to the polls Monday for a referendum on independence, Continue Reading
OPEC backs any action to help stabilize oil market: Zanganeh Iraq to boost output capacity while committing to OPEC Cuts OPEC’s commitment to cutting production to clear a global glut Continue Reading
Kurds began casting ballots on Monday in a historic referendum on independence from Iraq despite vigorous opposition from the country’s central government as well as regional and world powers. Starting Continue Reading
The slow pace of talks between the Nigerian government and representatives from the Niger Delta—exacerbated by the impending 2019 elections—have frustrated the militants who prompted the negotiations, causing oil majors Continue Reading
