Venezuela’s President Nicolas Maduro claimed victory in a regional election on Sunday in a surprise win defying opinion polls, but the opposition refused to recognize the outcome, decrying fraud, in Continue Reading
The International Monetary Fund has begun preparations for a possible rescue of Venezuela that could require $30bn or more in international help annually and come alongside one of the world’s Continue Reading
Opponents of President Nicolás Maduro expressed skepticism on Monday over the results of regional elections that the governing party said it won decisively, leaving weary Venezuelans facing the grim prospects Continue Reading
Venezuela’s main refining complex, hobbled by a lack of oil and maintenance issues, is down to operating at about a third of its 955,000-barrel-per-day capacity, according to a union official Continue Reading
Rooftop solar power options offer a unique position in the world’s second-largest economy, ReneSola said. File photo by Craig Russell/Shutterstock Oct. 16 (UPI) — Installing solar panels on rooftops across Continue Reading
Cheniere Energy Partners LP said Friday that the fourth train at its Sabine Pass liquefied natural gas plant was substantially complete, boosting output from the first LNG export terminal in Continue Reading
Last week, Trump’s EPA administrator Scott Pruitt announced, “the war on coal is over.” If there ever was a war on coal, the coal industry has lost. According to a Continue Reading
The giant natural-gas field, once one of fracking’s hottest spots, is making a comeback after being sidelined. Gas production from the Haynesville has risen more than 20% so far this Continue Reading
U.S. oil production is set to increase in November, according the Energy Information Administration’s (EIA) Drilling Productivity Report published on Monday. (Click to enlarge) The EIA has forecast an increase Continue Reading
After years of regulatory delays, the United States on Monday issued a presidential permit to a three-mile segment of Enbridge Inc’s ( ENB.TO ) Line 67 crude oil pipeline, which Continue Reading
Russia’s oil producer Gazprom Neft is ‘holding its nose’ to the OPEC/non-OPEC production cut deal because it has made the company cut its production growth targets, Gazprom Neft’s first deputy Continue Reading
The UK oil and gas industry faces a faster decline if Prime Minister Theresa May fails to agree to a trade deal with the European Union. (Bloomberg) — The U.K. Continue Reading
Oil markets jumped on Monday as Iraqi forced entered the oil city of Kirkuk, taking territory from Kurdish fighters and raising concerns over exports from OPEC’s second-largest producer. Flames are Continue Reading
Oil supply disruptions, high OPEC oil cut deal compliance rates, an extra-violent hurricane season, and the threat of new U.S. sanctions against Iran have fed optimism in oil markets over Continue Reading
The oil price, as measured by the most traded Brent Crude number, has been relatively stable since the agreement to limit output was implemented last year and excess inventory has Continue Reading
Iraqi federal forces and Kurdish Peshmerga soldiers began shelling each other on the southern outskirts of Kirkuk city early Monday, after Prime Minister Haider al-Abadi formally announced that he had Continue Reading
Oil exports flowing normally from Kirkuk and Kurdish fields Crude prices extend gains on concerns of supply disruption Iraqi forces moved to take over oil fields near the northern city Continue Reading
Iraqi on Monday forces captured the headquarters for the North Oil Company, northwest of Kirkuk, and a nearby refinery from Kurdish forces, without fighting, an Iraqi oil official said. Iraq Continue Reading
Iraqi forces captured several positions south of Kirkuk from Kurdish fighters on Monday in their bid to regain control of the oil-rich city, which is part of a region that Continue Reading
President Donald Trump’s hardened stance on a multinational nuclear deal between Iran and six major powers will not have much impact on global oil prices, Iranian Oil Minister Bijan Zanganeh Continue Reading
American President Donald Trump has officially decertified the Joint Comprehensive Plan of Action (JCPOA) Iran deal, while hitting Iranian power players—especially the Islamic Revolutionary Guard Corps (IRGC)—with a new list Continue Reading
SHANGHAI (Reuters) – Authorities in Shanxi, one of China’s biggest coal-producing regions, said on Saturday they plan to close nine more coal mines by the end of this year, according Continue Reading
South Korea’s imports of Iranian crude oil hit the highest level in six months in September amid Iran’s push to regain its lost market share during years it was under Continue Reading
The world’s top crude oil importer and key oil demand growth driver is now determined to get as many oil exporters as possible on board with accepting yuan payments for Continue Reading
Asia is set to ramp up crude oil imports from the United States in late 2017 and early next year, with buyers searching out cheap supplies after hurricanes hit U.S. Continue Reading
EVs are gaining traction, and although they still only make up a small fraction of the auto market, more and more analysts are starting to buy into the notion that Continue Reading
U.S. power firm Vistra Energy Corp said on Friday that it would shut two coal-fired plants for economic reasons, as closures in the industry continue apace despite the environment regulator Continue Reading
A customer inspects a Tesla Motors Inc. Powerwall unit inside a home in Monkton, Vt., in May 2016. Vermont’s largest electric utility, Green Mountain Power, in partnership with Tesla Energy, Continue Reading
This year the U.S. has averaged more than 900,000 barrels per day (BPD) of crude oil exports while continuing to import an average of 8.1 million BPD. In the previous Continue Reading
Scientists have developed a ceramic pump that can operate at 1,400 ˚C, several hundred degrees hotter than existing heat transfer systems, opening up significant new possibilities for energy storage. Specifically, Continue Reading
A team of researchers from Stanford University has developed a battery using sodium that costs much less than lithium-ion batteries. The new batteries could offer a cheaper alternative to lithium Continue Reading
Chinese crude imports rose by roughly 1 million barrels a day in September, on the month, to 9 million barrels a day, according to government data released Friday. The news Continue Reading
Oil prices rose on Friday on bullish data from China showing an uptick in oil imports by 1 million barrels per day in September, from a month earlier. On top Continue Reading
A geopolitical risk premium and signs of growing demand in the Asian economies helped drive crude oil prices sharply higher Friday, wrapping up a volatile week. Crude oil prices see-sawed Continue Reading
Oil prices on Friday closed at their highest level in October on bullish news from strong Chinese oil imports, U.S. President Donald Trump’s decision not to certify that Iran is Continue Reading
The world’s top trading houses, among the most nimble entities in oil, say even they aren’t sure how to stay a step ahead of a coming cut in shipping fuel Continue Reading
The world’s oil majors, beset by intimations of demand for their favorite product leveling off , seek comfort from an invisible friend. Compared to oil and coal, natural gas looks Continue Reading
The adoption of electric vehicles (EVs) will lead to global peak oil demand as soon as in 2023-2025, which will result in oil prices crashing to $10, Chris Watling, CEO Continue Reading
A rebalancing of the global oil market is underway helped by supply curbs led by OPEC, although the chance of big further gains in prices looks unlikely in the next Continue Reading
A looming ramp-up in U.S. sanctions on Tehran will further spook potential buyers of Iranian oil although supplies to Europe will most likely remain uninterrupted, top trading houses told the Continue Reading
Iran’s South Pars facility. Total struck a $1 billion deal in July that gave it access to the giant gas field. Mr. Trump said Friday he won’t recertify the 2015 Continue Reading
International powers that signed the nuclear deal with Iran have hit back strongly at President Donald Trump’s repudiation of the landmark pact. Germany, France, the UK and Russia rallied together with Continue Reading
US President Donald Trump Friday officially renounced the Iran nuclear agreement, yet urged Congress to remain in the deal as he asked lawmakers to ultimately decide its fate. Elizabeth Rosenberg, Continue Reading
Iran, already struggling to attract investors to its energy industry, may find things tougher still as Trump refuses to certify the nuclear deal. (Bloomberg) — Iran, already struggling to attract Continue Reading
Lebanese ambitions to draw investors to its offshore reserve potential, notably for natural gas, brought in only two bids, the government reported. Lebanon in January filed a request to join Continue Reading
Saudi Aramco, Saudi Arabia’s state-owned oil company. DUBAI—Officials at Saudi Arabia’s state-owned oil company are considering giving up on their plan to list shares in New York, London or any Continue Reading
Saudi Aramco is considering shelving plans for an international listing in favour of a private share sale to the world’s biggest sovereign wealth funds and institutional investors. Talks about a Continue Reading
Oil giant Saudi Aramco is thinking about reneging on its much talked about plans to publicly list a 5% stake in the company, Financial Times sources said on Friday. Last Continue Reading
We noted a month ago that the long-awaited Saudi Aramco IPO, scheduled for mid-2018, could be delayed to 2019, but now, according to The FT, Aramco is considering shelving plans Continue Reading
Saudi Aramco is considering the sale of a stake to a Chinese investor as plans for its highly-anticipated international public offering are pushed beyond its 2018 target, sources familiar with Continue Reading
