Iraq’s state-run North Oil Company (NOC) has resumed pumping into regional refineries, the export pipeline controlled by the autonomous Kurdistan Regional Government (KRG) and into storage at the port of Continue Reading
Iraq last month become the second-largest crude oil exporter to the United States, overtaking its southern neighbor, Saudi Arabia, and is on track to repeat this performance this month as Continue Reading
Oil major Royal Dutch Shell Plc won half the blocks awarded in Brazil’s deepwater oil auction on Friday, while rival BP took two blocks and Exxon Mobil Corp took one Continue Reading
Oil major Royal Dutch Shell Plc RDSA.L won half the blocks awarded in Brazil’s deepwater oil auction on Friday, while rival BP ( BP.L ) took two blocks and Exxon Continue Reading
Brazilian President Michel Temer said Friday’s auction of pre-salt offshore oil blocks will generate investments of more than 100 billion reais ($30.8 billion) in Brazil by the winning oil companies. Continue Reading
Mexico’s Pemex reported a narrower loss in the third quarter on Friday, but results for the state-run oil company were weighed down by a sharp slump in crude output. The quarterly Continue Reading
PDVSA says it paid principal due on amortizing 2020 bonds Doesn’t mention interest payment, which has grace period Venezuela’s state-run oil company said it transferred the funds to make an Continue Reading
Venezuela’s state-owned oil giant announced on Friday it had made a critical debt payment, avoiding a catastrophic default that could have seen the company lose control of the U.S.-based refiner Continue Reading
PDVSA says it paid principal due on amortizing 2020 bonds Doesn’t mention interest payment, which has grace period Venezuela’s state-run oil company said it transferred the funds to make an Continue Reading
Renewable energy is gaining traction in the global market to the extent that the U.S. position on the Paris climate agreement doesn’t matter, Fitch Ratings said. The U.S. plan to Continue Reading
As Saudi’s comments regarding the OPEC extension send the Brent Crude benchmark over $60 in mid-day trading for the first time in more than two years, oil and gas rigs Continue Reading
The U.S. Bureau of Land Management will be accepting oil exploration bids for more than half of the land on a Northern Alaska petroleum reserve that’s the size of Indiana. Continue Reading
Rising oil and natural gas prices boosted third-quarter profits at Exxon Mobil Corp and Chevron Corp by about 50 percent, underscoring how reliant they remain on commodity markets for their Continue Reading
Exxon Mobil Corp ( XOM.N ), the world’s largest publicly traded oil producer, posted a higher-than-expected quarterly profit on Friday as higher crude and natural gas prices more than offset Continue Reading
Exxon Mobil posts big quarterly gains, despite the revenue impact from Hurricane Harvey. Even though Hurricane Harvey had a $160 million impact on earnings, U.S. supermajor Exxon Mobil said third Continue Reading
ExxonMobil and Chevron, the two largest US oil and gas groups, are continuing to lose money on oil and gas production in their home country, in spite of the rise Continue Reading
Exxon Mobil Corp. and Chevron Corp. fell after reporting disappointing production for the third quarter that undercut outsized earnings results fed by climbing crude oil prices. Exxon churned out the Continue Reading
Exxonmobil’s liquids and natural gas production climbed to nearly 3.88 million b/d of oil equivalent in the third quarter, up nearly 70,000 boe/d from the same quarter last year, the Continue Reading
The Oil and Gas Climate Initiative (OGCI)—the voluntary alliance of some of the biggest oil companies in the world— said on Friday that it had made its first three investments Continue Reading
CNPC will be first recipient of Arctic project’s fuel Chinese investment helped defray impact of U.S. sanctions Russia’s Yamal LNG , set to be the world’s biggest Arctic producer of Continue Reading
Oil prices steadied on Friday, with benchmark Brent crude trading just below $60 a barrel, buoyed by comments from Saudi Arabia’s crown prince backing the extension of OPEC-led output cuts. Continue Reading
The NYMEX November natural gas futures contract fell Thursday despite the US Energy Information Administration announcing a lower-than-expected storage injection. The November contract settled at $2.89/MMBtu, down 2.9 cents from Continue Reading
Brent crude closed at a 27-month high on Thursday as the market focused more on comments from Saudi Arabia about ending a global supply glut instead of an unexpected increase Continue Reading
Dr. Kent Moors is an internationally recognized expert in oil and natural gas policy, risk management, emerging market economic development, and market risk assessment. His… Of course, the parallel between Continue Reading
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
Prince Mohammed bin Salman says ‘of course’ supports roll-over Heir to throne says Saudi Aramco IPO is ‘on track’ for 2018 Saudi Arabian Crown Prince Mohammed bin Salman backed the Continue Reading
RIYADH (Reuters) – Saudi Aramco’s initial public offering is on track for next year, and the national oil giant could be valued at more than $2 trillion, Saudi Arabia’s Crown Continue Reading
Saudi Arabia’s finance minister has confirmed the kingdom is exploring a private stake sale in state energy giant Saudi Aramco, with plans for an international listing just one option for Continue Reading
Iran says its signed a novel agreement to sell gas slated for delivery as super-cooled liquefied natural gas. File photo by Maryam Rahmanian/UPI Oct. 26 (UPI) — An Iranian energy Continue Reading
Five months into the Gulf’s blockade against Qatar, and neither side looks ready to budge. But the repercussions of the ongoing spat—and Kuwait’s failure to end the dispute—could deliver a Continue Reading
Iraq will begin pumping oil from Kirkuk once again , just a week after clashes between Iraqi and Kurdish forces forced production in certain parts of the No.2 OPEC producer Continue Reading
Federal Iraqi troops attempted to gain control over a strategically important piece of territory at the intersection of the Iraqi, Syrian, and Turkish borders on Thursday, sparking a fight with Continue Reading
Brazil and Mexico are competing for a diminishing resource: the investment dollars of oil majors. HOUSTON/RIO DE JANEIRO, Oct 26 (Reuters) – Brazil and Mexico are competing for a diminishing Continue Reading
Brazil will auction eight blocks in its coveted deepwater oil region on Friday, a prospect that has lured top executives from the world’s biggest oil companies to Rio de Janeiro Continue Reading
This past weekend, Venezuela failed to make $237 million in bond coupon payment, blaming “technical glitches” when in reality it simply did not have the money (or wish to part Continue Reading
PDVSA’s next $985 million debt payment – due Friday – has international investors guessing how Caracas will meet yet another financial deadline to prevent total default, according to reports emerging Continue Reading
China’s small coal miners are still losing money and struggling to pay off debt after being ordered to shut inefficient, outdated operations and forced to miss out on a historic Continue Reading
Minnesota agency cancels hearings over an Enbridge oil pipeline because of “logistical and safety issues.” File photo by Jim Ruymen/UPI Oct. 26 (UPI) — More than $20 million in state Continue Reading
The state of New York has a global leadership vision for offshore wind, a state leader said. The state of New York aims to become a new hub for the Continue Reading
Despite the Canadian government’s efforts to curb carbon emissions and expand the adoption of renewable energy systems, the country’s crude oil production will only continue to grow in the next Continue Reading
Ten months into 2017, ConocoPhillips has nonetheless shaved 10% from its capital budget for the year to $4.5 billion, but still expects 3% underlying production growth excluding asset dispositions, a Continue Reading
The US production tax credit program continues to have a strong pull on wind energy activity in the country. There was just over 29,600 MW of wind capacity under construction Continue Reading
Wall Street may love the shares of Silicon Valley electric carmaker Tesla Inc, but Americans love big, fuel-thirsty trucks like Ford Motor Co’s bestselling F-Series pickups and are paying ever Continue Reading
Oil slipped on Thursday, pressured by an unexpected increase in U.S. crude inventories, high U.S. production and exports, but prices remained near multi-month highs as crude markets tightened. A pumpjack Continue Reading
With oil prices at multi-week highs thanks to reports from OPEC and demand outlook, some more good news is always appreciated but the EIA has refused to play along, reporting Continue Reading
U.S. oil prices slipped on Wednesday after a surprising increase in U.S. crude inventories, while U.S. gasoline futures rallied 1 percent on a sharp falloff in inventories. Brent crude edged Continue Reading
After strong gains in previous sessions, crude oil prices retreated Wednesday on analyst expectations they had brushed up against a market ceiling. “Synchronized global growth, robust demand for oil, high Continue Reading
For more than three years the oil market has been strangled by a persistent supply glut, but next year there’s the opposite issue to be concerned about: an outright supply Continue Reading
Brent hit $59.77 per barrel on September 26, but was back to $55 per barrel a few days later. There are many reasons why oil prices are struggling to break Continue Reading
Iraqi government-owned North Oil Co. and Kurdish Kar Group are cooperating on pumping the oil from two fields that halted operations following the government military action to take it over Continue Reading
