Brazil’s Pre-Salt Areas Attract 17 Major Oil Bidders
As many as 17 companies have registered to bid next month in two rounds of exploration license awards in Brazil’s pre-salt layer, Brazilian Oil and Gas Secretary Marcio Felix said Continue Reading
U.S. shale sector at critical price threshold: Kemp
Forward U.S. oil prices for 2018 have climbed back above $50 per barrel, a level that should be high enough to stabilize drilling activity over the next two months. But Continue Reading
Alberta anticipates oil sands production boom
Through one of the largest investments in provincial history, expansions to an oil sands project in Alberta triggers big gains in output, its premier said. Alberta Premier Rachel Notley was Continue Reading
Supermajors Prepare For A Permian Bidding War
BHP announced their plans to divest their U.S. shale assets, including a 123,000-acre position in the heart of the Delaware Basin. This acreage position, in terms of a pricing evaluation, Continue Reading
Alberta Banking On An Oil Sands Boom
Alberta Premier Rachel Notley cut the ribbon that marked the official opening of an oil sands expansion project near Fort McMurray on Wednesday. The new project is expected to produce Continue Reading
A123 Systems invests in solid-state battery technology company Solid Power
A123 Systems LLC, a developer and manufacturer of advanced lithium-ion batteries and systems, has invested in Solid Power Inc., a developer of solid-state battery technology. Solid Power’s technology combines an Continue Reading
Trump Administration will Waste Billions by Disregarding Science in Hurricane Recovery
The Trump administration is consciously choosing to reject climate science in its plan to rebuild from superstorms Harvey and Irma. And that means their reconstruction of Houston and Florida will Continue Reading
Valero Houston Plant Underestimated Harvey Benzene Leak
Valero Energy Partners’ Houston refinery suffered a hurricane-related spill Aug. 27 from a light crude storage tank, the Environmental Protection Agency said. The chemical plant that released a cloud of Continue Reading
EIA projects 28% increase in world energy use by 2040
Source: U.S. Energy Information Administration, International Energy Outlook 2017 The U.S. Energy Information Administration’s latest International Energy Outlook 2017 (IEO2017) projects that world energy consumption will grow by 28% between Continue Reading
Sources Say Trump’s Citgo Sanctions Are Working
Trading sources say President Donald Trump’s new sanctions against Venezuela’s American refining unit, Citgo, have succeeded in making it difficult for the PDVSA subsidiary to order crude for its facilities, Continue Reading
Seasonal factors help Russia over-comply with OPEC pledge
Seasonal factors and maintenance at an Arctic oil field in Russia may be contributing factors to its compliance with an OPEC-led production deal, data show. Russia said oil production declined Continue Reading
Does Russia Really Need The OPEC Deal?
OPEC and Russia are coordinating the first joint OPEC/non-OPEC deal to curb oil output since 2001, but the apparent unity in the face of lower-for-longer oil prices doesn’t disguise the Continue Reading
Electric Vehicles: The High Cost Of Going Green
It has become raison d’être that electric vehicles (EV) will keep increasing in use without considering serious factors that could hamper their growth. The British electrical grid example and the Continue Reading
Oil holds gains, buoyed by stronger demand
Oil prices steadied on Thursday, holding on to recent gains after forecasts for stronger oil demand by the International Energy Agency (IEA). Benchmark Brent crude LCOc1 was up 20 cents Continue Reading
Oil rises as IEA forecast overshadows U.S. crude build
Crude oil prices rose on Wednesday after the International Energy Agency (IEA) said a global surplus of crude was starting to shrink, even though U.S. data showed another big increase Continue Reading
The Most Bullish Oil Report This Year
Despite the huge uncertainties related to the two massive hurricanes that hit the U.S., the global oil market looks tighter than it has in a long time, according to a Continue Reading
IEA Sees Strongest Global Oil-Demand Growth in Two Years
Global oil demand will climb this year by the most since 2015, the IEA says, amid stronger-than-expected consumption in Europe and the US. (Bloomberg) — Global oil demand will climb Continue Reading
Plastics Won’t Save Oil
Petrochemicals are Big Oil’s big hope for the future—the distant future. Petrochemicals are used in thousands of products, with the biggest group among these being single-use plastic products. The bad Continue Reading
Shell set to draw line under a century of Iraqi oil
Royal Dutch Shell ( RDSa.L ) is set to end a century of oil production in Iraq by withdrawing from two of the Arab state’s flagship fields to focus on Continue Reading
Saudi Arabia Pushes OPEC on New Tack to Curb Oil Supplies
Saudi Arabia’s energy minister, Khalid al-Falih, right, wants OPEC to focus more on exports in a bid to lift oil prices. Above, Mr. Falih with Russian Energy Minister Alexander Novak, Continue Reading
Saudi Arabia Clamps Down as Crown Prince Consolidates Power
Saudi Arabia is stamping out traces of internal dissent in a far-reaching campaign targeting influential clerics, liberal thinkers and even princes as Crown Prince Mohammed bin Salman moves to consolidate Continue Reading
OPEC’s No. 2 Faces Civil War Threat
A majority of Iraq’s law enforcement network has congregated in the northern and western portions of the country to contain the efforts of the Islamic State to restart the reign Continue Reading
Iran, Syria Sign Energy Agreement
Iranian and Syrian media have reported the signing, by officials from the two countries, of several agreements that would allow Iran to improve the production and distribution of electricity in Continue Reading
Shell accelerates Iraq drawdown with Majnoon exit
Negotiations begin over handing back the Majnoon operatorship, months after stake in West Qurna 1 was put up for sale, highlighting one major oil company’s resistance to Iraq’s tough terms. Continue Reading
Venezuela’s crude supply to the United States was flat in August
Venezuelan crude sales to the United States in August were largely unchanged at 638,935 barrels per day (bpd) compared with the prior month, but continued to fall far short of Continue Reading
Argentina Doubles Down On Shale Gas And Renewables
Traditionally one of the most prominent oil and natural gas markets in South America, Argentina is increasingly turning towards alternative forms of energy, with the government exploring shale gas and Continue Reading
How Will Venezuela Deal With A PDVSA Default?
While debt servicing has been a government priority, declining external liquidity and a deteriorating domestic situation (three-digit hyperinflation, shortages, and a political crisis between the government and the National Assembly) Continue Reading
Mexico’s Biggest Refinery Will Take A Month To Restart
The largest crude oil refinery in Mexico, Salina Cruz, will take between three and four weeks to bring back online after the magnitude-8 earthquake that struck the country last week. Continue Reading
Venezuela’s ‘Plan Rabbit’ encounters ‘cultural problem’
Venezuelans tend to keep rabbits as pets and do not view them as a source of meat Venezuelan President Nicolás Maduro has devised a “rabbit plan” to counter the economic Continue Reading
Nigeria To Shutter Three Oil Refineries To Rehabilitate Output
Wednesday . The Kaduna , Warri and Port Harcourt refineries will shutter to allow the national oil company to return refining capacity to their nameplate levels, NNPC managing director Dr. Continue Reading
China’s Economy Cools Again
The pace of China’s economic expansion unexpectedly cooled further last month after a lackluster July, as factory output, investment and retail sales all slowed. Key Points Industrial output rose 6.0 Continue Reading
China’s environmental crackdown hits August metals output
A worker cuts metal at a scrap metal stall at a recycling yard at the edge of Beijing, China, October 20, 2016. REUTERS/Thomas Peter BEIJING (Reuters) – China’s non-ferrous metal Continue Reading
With high-performance cells, China takes aim at high-end solar market
China, blighted by pollution and long known for churning out cheap manufactured goods, is looking to dominate the high-end of a major growth market: solar power. Under a new program, Continue Reading
Summary of Weekly Petroleum Data for the Week Ending September 8, 2017
U.S. crude oil refinery inputs averaged 14.1 million barrels per day during the week ending September 8, 2017, 394,000 barrels per day less than the previous week’s average. Refineries operated Continue Reading
Schlumberger’s Gamble Could Change Oilfield Services Forever
The world’s largest oilfield services firm has decided that it should take an ownership stake in upstream oil and gas production, rather than simply provide the services for doing so. Continue Reading
Alberta Wildfires Shut Down 24 Shell Gas Wells
Wildfires raging in southwestern Alberta have prompted Shell to shut down 24 natural gas wells and pipelines around them, Canadian media reported, adding that other companies, including Questfire Energy and Continue Reading
US motor gasoline stocks in record drop on hurricane fallout
Stocks of US motor gasoline dropped by the most on record as suppliers drew from tank storage to replace gallons lost from oil refineries sidelined by hurricane Harvey. Levels of Continue Reading
Agency votes to begin effort to ban fracking, horizontal drilling in US basin
A joint federal-state commission on Wednesday voted to move ahead with a rulemaking that would prohibit horizontal drilling and hydraulic fracturing across a large swath of eastern Pennsylvania, as well Continue Reading
Tankers: Jones Act waiver spurs flurry of vessel bookings on USGC/USAC-Florida run
The seven-day Jones Act waiver announced Friday by the Department of Homeland Security in recognition of the severity of Hurricanes Harvey and Irma prompted a flurry of fixing activity for Continue Reading
US weekly coal carload volume declines persist into September: AAR
US coal carload volumes have dipped for three straight weeks since climbing to a 2017 high, according to data released Wednesday by the Association of American Railroads. For the week Continue Reading
Harrowing Storms May Move Climate Debate, if Not G.O.P. Leaders
Extreme weather events have fueled the national debate on climate change. For years, climate change activists have faced a wrenching dilemma: how to persuade people to care about a grave Continue Reading
Stop Talking Right Now about the Threat of Climate Change. It’s Here; it’s Happening
For the sake of keeping things manageable, let’s confine the discussion to a single continent and a single week: North America over the last seven days. In Houston they got Continue Reading
Coal’s problem is not climate change: Kemp
A worker walks at a coal storage site near a freight station in Shenyang, Liaoning province October 18, 2010. REUTERS/Sheng Li LONDON (Reuters) – U.S. coal companies blame climate campaigners Continue Reading
Oil edges up as IEA sees higher oil demand, shrinking inventories
Oil prices ticked higher on Wednesday after the International Energy Agency said the global oil surplus was starting to shrink due to robust global demand and an output drop from Continue Reading
Oil Prices Rise After API Reports Largest Gasoline Draw On Record
The American Petroleum Institute (API) reported a build of 6.181 million barrels in United States crude oil inventories, compared to analyst expectations that inventories would build by 10.1 million barrels Continue Reading
Mind the gap: Brent and WTI point in opposite directions – Kemp
Commuters and tourists are regularly warned to “mind the gap” between train doors and the platform at certain stations on the London Underground. But the warning could just as easily Continue Reading
Oil up on OPEC output decline; U.S. refinery restarts
Oil prices rose on Tuesday after OPEC forecast higher demand in 2018 and Russia and Venezuela confirmed their commitment to a production-cutting deal to reduce the global crude glut. In Continue Reading
Global oil inventories shrinking on robust demand: IEA
The global oil surplus is beginning to shrink due to stronger-than-expected European and U.S. demand growth, as well as production declines in OPEC and non-OPEC countries, the International Energy Agency Continue Reading
7 Big Changes to the Energy Industry Coming by 2040
For the most part, the way we generate and use energy hasn’t changed a lot in the past 50 years. But that’s not likely to be the case in the Continue Reading
EIA Lowers US 2017, 2018 Crude Output Forecasts After Harvey
The EIA revises both its 2017 and 2018 oil production forecast figures lower to reflect, in part, the effects of Hurricane Harvey. NEW YORK, Sept 12 (Reuters) – The U.S. Continue Reading