Iraq Conflict Won’t Trigger Oil Rally
The standoff between the Iraqi government and Kurdistan over the past month helped push up oil prices, due to the idling of a sizable portion of the country’s crude oil Continue Reading
Fear of Iranian general left Iraqi Kurdish oil fields deserted
When the Iraqi army and Iranian-backed Shi‘ite militia entered a key oil processing facility in Iraq’s north to retake it from Kurdish Peshmerga forces last week, the installation was deserted Continue Reading
With more oil assets threatened, KRG proposes truce
The Kurdistan Regional Government (KRG) has offered to “freeze the results” of its Sept. 25 independence referendum – the first formal proposal since the federal government 10 days ago reclaimed Continue Reading
Kurdistan Proposes Immediate Ceasefire With Iraq
The Kurdistan Regional Government has proposed to Baghdad an immediate ceasefire after more than a week of fighting following a decision by Baghdad to retake control of disputed Kirkuk and Continue Reading
Kurdish government proposes end to independence push
With oil the source of regional disputes, the semiautonomous Kurdish government in northern Iraq said it was backing off its ambitions for independence. The Kurdistan Regional Government said in statements Continue Reading
Saudi Arabia’s Grand Plan to Move Beyond Oil: Big Goals, Bigger Hurdles
Saudi Arabia is throwing an economic coming-out party of sorts this week, hawking its efforts to liberalize its conservative society and diversify its economy in a sweeping overhaul of the Continue Reading
Saudis To Lift Sovereign Wealth Fund Assets To $400B By 2020
As it is trying to boost private-sector growth and diversify its economy away from crude oil, Saudi Arabia aims to make its Public Investment Fund (PIF) one of the world’s Continue Reading
Saudi Exchange aspires to be exclusive venue for Aramco IPO: CEO
Saudi Arabia’s stock exchange aspires to be the exclusive venue for the listing of Saudi Aramco’s IPO-ARMO.SE initial public offering and the market has sufficient liquidity to absorb the share Continue Reading
Exclusive: Saudi Aramco IPO on track for 2018 – Saudi crown prince
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 Prince Mohammad bin Continue Reading
Saudi Arabia To Move Beyond Oil And Islam
Crown Prince Mohammed bin Salman announced the coming creation of a $500 billion business and industrial megacity that links Saudi Arabia, Egypt, and Jordan together by focusing on growth in Continue Reading
After big bet on Guyana, Hess posts big loss
After dumping billions of dollars in assets to focus on one particular oil field in Guyana, Hess Corp. said Wednesday its net loss almost doubled year-over-year. Hess reported a net Continue Reading
Venezuela Oil Shipments To U.S. Fall By Half
Venezuelan oil shipments to the United States have fallen to just 56 percent of their 2016 average, cargo-tracking data from Bloomberg has revealed , as sanctions against Caracas hinder oil Continue Reading
Argentina’s YPF To Invest $21.5B From 2018 To 2022
YPF plans to invest $21.5 billion in the country from 2018 to 2022. BUENOS AIRES, Oct 25 (Reuters) – Argentina’s state-controlled energy company YPF plans to invest $21.5 billion in Continue Reading
Nigeria: 26 Firms Bid to Overhaul Nigeria’s Refineries – Govt
The Nigerian government has disclosed that 26 firms have shown interest in the plan to overhaul the nation’s oil refineries. The Minister of State for Petroleum Resources, Ibe Kachikwu, made Continue Reading
Shell: Breakeven For Brazilian Pre-salt Less Than $40
Shell is confident that it can produce oil from Brazil’s promising prolific pre-salt layer for less than $40 per barrel, that’s why the supermajor is taking part in this week’s Continue Reading
“It’s A Huge Story”: China Launching “Petroyuan” In Two Months
The World Bank’s former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system. “The dominance of Continue Reading
Autos, manufacturing aid stellar rebound in India’s oil demand
India posted the highest growth in demand for oil products in 13 months in September at 9.9% as the effects of some key economic reforms started to fade, while an Continue Reading
Chinese offshore production lower than last year
Chinese offshore oil company said its production at home was lower, despite gains in the overseas market. File photo by Project1photography/Shutterstock. Oct. 25 (UPI) — Incremental gains in overseas production Continue Reading
China leads the growth in projected global natural gas consumption
Global natural gas consumption is expected to grow from 340 billion cubic feet per day (Bcf/d) in 2015 to 485 Bcf/d by 2040, primarily in countries in Asia and in Continue Reading
China to freely share data from weather, carbon satellites: official
China will freely share data from its new-generation weather satellite Fengyun-4 as well as its first carbon monitoring satellite TanSat with international users, a Chinese official said here Tuesday. Yang Continue Reading
China Wants to Talk Less About Growth Targets
The approach doesn’t necessarily mean China will abandon growth targets altogether, Chinese officials say. By de-emphasizing numeric goals, they said, the government will have more wiggle room in managing the Continue Reading
Crude stocks rise, fuel inventories drop: EIA
U.S. crude stocks rose last week, but gasoline and distillate inventories fell much more than anticipated, Energy Information Administration data showed on Wednesday. Crude inventories rose by 856,000 barrels in Continue Reading
Oil Refiners Shrug Off Harvey to Rake in Fat Post-Storm Profits
Higher margins boosted earnings for makers of gasoline, diesel Midwest refiners benefited when storm shut Texas facilities When Hurricane Harvey cleared and the floodwaters receded, oil refiners found themselves floating Continue Reading
Enel acquires eMotorWerks to provide grid balancing solutions and tap into US e-mobility market
Enel S.p.A., through its US subsidiary EnerNOC, has acquired California-based eMotorWerks, a North American supplier of electric vehicle (EV) charging stations, called JuiceBox, and owner and operator of JuiceNet, an Continue Reading
GoM July Production Update
GoM C&C production for July by BOEM was 1746 kbpd and by EIA 1761, compared with, respectively, 1631 and 1634 kbpd (corrected) in June. The EIA number is a new Continue Reading
Will This Trump Move Trigger A Coal And Nuclear Buying Spree?
That’s a slate of new regulations around power pricing across the U.S. which have been proposed by the Trump-era Department of Energy (DOE), in order to give coal and nuclear Continue Reading
Weekly stocks report
Summary of Weekly Petroleum Data for the Week Ending October 20, 2017 U.S. crude oil refinery inputs averaged over 16.0 million barrels per day during the week average. Refineries operated Continue Reading
The biggest U.S. offshore oil and gas grab to attract the biggest firms
With the opening of what’s described as the biggest grab of U.S. offshore assets ever, an analyst said the region is best suited for the biggest of firms. U.S. Interior Continue Reading
Oklahoma frustrated by ruling against alternative vehicle fees
Lawmakers in Oklahoma are working to make up for any losses from vehicle taxes after courts ruled against electric and hybrid fees, the governor said. The state chapter of the Continue Reading
Russia To Boost Oil Production In 2018 If OPEC Deal Not Extended
While the oil market is awaiting what Saudi Arabia and Russia—the leaders of the OPEC and non-OPEC producers part of the production cut deal—will decide on the future of the Continue Reading
Amid energy spats, Ukraine’s economy showing resilience
Amid spats with Russia over natural gas, Ukraine’s prime minister said Wednesday the economy for the former Soviet republic is on pace to grow at a decent clip. “The economy Continue Reading
This Oil Rally May Be Short-Lived
It’s been another week of upbeat OPEC reports—from secretary general Mohammed Barkindo’s belief that global oil demand will jump to over 100 million bpd by 2020 to the proud announcement Continue Reading
Oil hovers near four-week high on Saudi pledge to end glut
Oil prices were largely steady in early Asian trade on Wednesday, hovering near a four-week high hit a day earlier after top exporter Saudi Arabia said it was determined to Continue Reading
Oil Prices Up After API Reports Huge Gasoline Draw
The American Petroleum Institute (API) reported a small draw of 519,000 barrels in United States crude oil inventories, largely inline with an S&P Platts’ survey of analysts that expected inventories Continue Reading
Oil Prices Rise Ahead Of Inventory Data
The U.S. has been a major refined product exporter for years, but exports have jumped in the last three years. – The lifting of the crude oil export ban at Continue Reading
Oil Rises to Six-Month High on Hopes of Supplies Falling
On Tuesday, Saudi Arabia’s energy minister reiterated intentions to do whatever is necessary to bring global oil inventories back to the five-year average. “We won’t stop halfway…and we won’t do Continue Reading
Saudi determined to end oil glut, sees smooth exit for OPEC pact
The world’s top oil exporter Saudi Arabia is determined to reduce inventories further through an OPEC-led deal to cut crude output and raised the prospect of prolonged restraint once the Continue Reading
Saudi crown prince: oil demand will increase in 2030-2040
Demand for oil will increase between 2030 to 2040 because there will be a need from petrochemical and other industries, not just for energy production, Saudi Arabia’s crown prince said Continue Reading
Aramco CEO Warns Of Imminent Oil Supply Crunch
As much as US$1 trillion of investments has either been deferred or canceled with the lower-for-longer oil prices, and this underinvestment will impact the future of energy, Amin Nasser, the Continue Reading
Expect New Aramco IPO Details This Week
Aramco’s 5 percent IPO—the world’s largest ever—continues to make headlines. Some analysts claim that the IPO is in danger of failing. Other sources report that the company is considering a Continue Reading
Oil rises towards $58 on Saudi comments, forecast of U.S. stocks drop
Brent oil rose towards $58 a barrel on Tuesday after top exporter Saudi Arabia said it was determined to end a supply glut, while prices also drew support from forecasts Continue Reading
Aramco: Mass EV Adoption Still Decades Away
Though electric vehicles are gaining popularity worldwide, Saudi Aramco CEO Amin Nasser believes that the new cars will not compose a significant portion of on-road vehicles for decades, according to Continue Reading
Saudi Aramco’s IPO Has Never Been Linked To Oil Prices, CEO Says
Contrary to what oil market observers have been saying for months, the plans for listing 5 percent in Saudi Aramco have never been connected to the state of the oil Continue Reading
OPEC’s Newest Member Looks To Raise Oil Production
OPEC’s newest member country, Equatorial Guinea, is seeking to lift its crude production after smaller oil companies acquired stakes in offshore oil fields operated by U.S. Hess Corporation, Equatorial Guinea’s Continue Reading
Saudi Crown Prince Tells Investors He’s Taking On Extremists
Mohammed bin Salman vows to return country to ‘moderate’ Islam Comments follow announced reforms in women’s rights, oil It was a comment that stunned the people in the room. At Continue Reading
Iraq expands southern export capacity
Basra Gulf terminals increase loading capabilities ahead of plans to boost exports. Iraqi Deputy Oil Minister Karim Hattab inspects the Khor al-Amaya Oil Terminal on June 11, 2017. (Source: Iraq Continue Reading
Study: expanding Brazilian sugarcane for ethanol could reduce global CO2 emissions by up to 5.6%
Vastly expanding sugarcane production in Brazil for conversion to ethanol could reduce current global CO 2 emissions by as much as 5.6%, according to a new study by an international Continue Reading
China turns to U.S. for gasoline components amid European shortage
Asia has turned to the United States for supplies of gasoline blending components as tanks in Europe are running dry. A rare cargo of mixed aromatics, also known as reformates, Continue Reading
Can Venezuela Avoid Default?
The oil and bond market participants have hardly had time to take a breather after Venezuela’s disputed regional election, as the cash-strapped crisis-stricken country has to make more than $2 Continue Reading
If Mexico Goes MIA, Permian Gas Could Flame Out
Three pipelines connecting the Permian Basin to Mexico came online with total capacity of 3 billion cubic feet per day or bcfd early 2017, but flows have been at a Continue Reading