The oil and shipping markets remain in limbo as the world awaits action from US Congress on sanctions targeting Iran, in the wake of President Donald Trump last week declaring Continue Reading
When OPEC agreed to exempt Nigeria from its oil production-restraint deal last year, it knew the country faced a huge challenge in recouping output lost due to militant unrest. A Continue Reading
The global oil market has not yet shown clear signs that it has reached a turning point, and if oil prices stay relatively stable, U.S. shale production will rise significantly Continue Reading
The US exported close to 3 million barrels of ethane in H1 2017, a rise of 83% year-on-year. A majority of these exports were headed to Europe with volumes also Continue Reading
The growth of solar energy continues to outpace forecasts and this growth, according to a report published today by the International Energy Agency , “is a China story.” While China Continue Reading
More than 9m people are killed annually by pollution, equivalent to one in six of all deaths across the world, according to a new study. A two-year project carried out Continue Reading
Much of the U.S. should expect another warm winter, but not quite as toasty as the last two years, forecasters said. The National Oceanic and Atmospheric Administration on Thursday forecast Continue Reading
An increase in crude oil exports, which reached an all-time high, helped lead to the decline in storage levels for the U.S. market, data analysis show. Data from the U.S. Continue Reading
The EIA is scheduled to release its storage data Thursday at 10:30 a.m. EDT. For the Oct. 13 week, the median estimate is for an increase of 57 bcf. Estimates Continue Reading
I was recently asked to give a talk called, “ The Approaching US Energy-Economic Crisis .” In other words, how might the United States encounter problems that lead to a Continue Reading
The worm is turning for the crude oil price and American petroleum’s latest reporting season will likely announce a telling maturation of the US shale industry according to Woodside Petroleum Continue Reading
The original shale gas play, the one that kicked off the shale drilling bonanza a decade ago but then went into decline, is getting a new lease on life. The Continue Reading
Preliminary production figures for Norway were lower than expected, but still higher than last year, based on preliminary data. Photo courtesy of Aker BP Oct. 19 (UPI) — Oil production Continue Reading
In April, state-controlled oil giant Rosneft started drilling the northernmost well on the Russian Arctic shelf in the Khatangsky license area in the Laptev Sea. In June, Rosneft struck first Continue Reading
After an absence from the event of more than 30 years, Volkswagen is developing an all-electric race car for the Pikes Peak International Hill Climb in Colorado on 24 June Continue Reading
Oil prices steadied on Thursday, holding onto most recent gains, supported by OPEC-led supply cuts, tension in the Middle East and lower U.S. production. Brent crude was down 20 cents Continue Reading
Still, oil prices pulled back from earlier gains and at times traded in negative territory as investors tried to gauge the impact of Hurricane Nate on last week’s data, as Continue Reading
After a rough start for October, crude oil prices linger in rally mode as U.S. hurricanes keep crude oil out of storage basins. Short-term market metrics lingering from a U.S. Continue Reading
Brent oil prices retreated from three-week highs reached earlier in the day on Wednesday, after a surprising fall-off in U.S. refining runs and an unexpected increase in inventories of gasoline Continue Reading
The world’s largest oil trader sees the price of the Brent barrel falling almost $14 to $45 in 2018, from its current price of $58.01, according to Ian Taylor, CEO Continue Reading
And then imagine that we wake up in 2040 and learn that every country actually kept to their promise. In 23 years all new vehicle sales—everywhere—would be electrically-powered. I call Continue Reading
Transocean Ltd. is finally sending Pathfinder to its grave, after two years in a Caribbean purgatory that cost about $15,000 a day. The move by the world’s biggest offshore-rig operator Continue Reading
OPEC is leaning toward extending a deal with Russia and other non-members to cut oil supply for a further nine months, four OPEC sources said, although stronger-than-expected demand growth may Continue Reading
There is no doubt that in the wake of efforts by global oil producers to curb production that the crude market is rebalancing, and doing so at an accelerating pace, Continue Reading
Russian state oil major Rosneft has agreed to invest $400 million in five oil blocks in Iraqi Kurdistan, increasing Moscow’s exposure to the semi-autonomous region despite a major spike in Continue Reading
Aramco has asked FTI Consulting to suspend investor relations work on its upcoming initial public offering, according to unnamed sources who spoke to Reuters. The sources did not elaborate on Continue Reading
Iraqi Oil Minister Jabbar Al-Luiebi has asked BP to develop the oil fields in oil-rich Kirkuk, just a day after Iraq’s government forces completed an operation to seize control of Continue Reading
Kurdish Regional Government has borrowed about $3.5 billion Oil shipments fall after Baghdad reclaims disputed Kirkuk The crisis unfolding around the Iraqi city of Kirkuk has left some of the Continue Reading
United States President Donald Trump’s decision to “decertify” the Iran nuclear deal probably won’t have an immediate impact on oil prices, but the decision could plant the seeds of problems Continue Reading
KRG forces guard the Khurmala Dome oil facilities on Oct. 18, 2017. Kurdistan flags are still flying above the main entrance gate of the Khurmala Dome oil facility southwest of Continue Reading
The flow of crude oil through the Kurdistan pipeline from Kirkuk to the Turkish port of Ceyhan have plummeted to some 225,000 bpd, from a typical flow of around 600,000 Continue Reading
African Petroleum said its looking to international arbitration to protect its assets off the coast of Gambia. After hinting of trouble earlier this week, African Petroleum said it was now Continue Reading
Venezuela’s state-run oil firm, PDVSA, is increasingly delivering poor quality crude oil to major refiners in the United States, India and China, causing repeated complaints, canceled orders and demands for Continue Reading
Continental Resources CEO Harold Hamm said the sale of oil from the Bakken shale basin in North Dakota to China represents the “new normal.The head Continental Resources, Harold Hamm, said Continue Reading
China’s oil refineries increased their run rates by 12.7 percent to a record for September, data showed on Thursday, after a major new state-run refinery launched operations and independent plants Continue Reading
China has ordered state oil companies to speed up the construction of pipelines to move natural gas to homes and factories, underscoring worries that the country’s insufficient infrastructure could cause Continue Reading
A Chinese worker outside a construction site in the Central Business District of Beijing on Tuesday. The third-quarter pace slowed from 6.9% in the second quarter, though it puts the Continue Reading
The U.S. shale industry will see another production surge in 2018 as producers have sharply ramped up bets against a fall in oil prices, major oil executives and bankers said Continue Reading
Encana Corp. Chief Executive Officer Doug Suttles says drillers in Texas’s prolific Permian Basin can no longer impress investors with how much acreage they’re snapping up or how quickly they’re Continue Reading
Iowa Governor Kim Reynolds said President Donald Trump and the head of the US Environmental Protection Agency both promised to protect the US biofuel mandate in calls to her Wednesday, Continue Reading
A little over a week ago, we noted the damning – if unsurprising – report from the Wall Street Journal revealing that Tesla’s massive production miss on the Model 3, Continue Reading
U.S. crude oil refinery inputs averaged over 15.4 million barrels per day during the week ending October 13, 2017, 819,000 barrels per day less than the previous week’s average. Refineries Continue Reading
In the outlook for crude prices, a crucial factor is how far US shale oil production can grow. The shale revolution has transformed global oil markets over the past decade, Continue Reading
Big oil company executives asserted that fossil fuels would remain the central part of their business for decades, despite recent investments in renewables and other energy sources made in response Continue Reading
Last week, the Interior Department sent a letter to Cadiz Inc. that the company long had hoped to receive. For years, the renewable resource company had been trying to build Continue Reading
Encouraged by recently opened areas and potentially huge yet-to-be-discovered resources, oil companies launched a record exploration drilling campaign in Norway’s Barents Sea this year. But as the summer and the Continue Reading
Russia’s Rosneft has been in talks with Tehran to set up a supply chain to deliver oil from Iran and Central Asia nations to the global markets, Igor Sechin, chief Continue Reading
Oil prices rose on Wednesday, lifted by a fall in U.S. crude inventories and concerns that tensions in the Middle East could disrupt supplies. Oil barrels are pictured at the Continue Reading
Oil prices ended little changed on Tuesday, steadying after earlier gains and losses, as expectations of high U.S. production and exports offset concerns that fighting between Iraqi and Kurdish forces Continue Reading
U.S. crude futures pared losses late in the session after falling as much as 1.3% and closed up 1 cent, or less than 0.1%, to $51.88 a barrel on the Continue Reading
