Oil Pulls Back After U.S. Rig Count Sees Significant Increase
Baker Hughes has reported that the number of oil and gas rigs in the United States rose this week, bucking the downward trend of recent weeks. The number of oil Continue Reading
Oil Falls as Geopolitical Concerns Ease
Political tumult in Saudi Arabia and a flare-up in tensions between the kingdom and Iran boosted prices this week, as traders and investors became concerned about volatility in the region. Continue Reading
“End Of Oil” Narratives Are Misleading
Over the next few decades we’ll be plugging in more cars, hailing and sharing them, and reminiscing about the good ol’ days of the steering wheel. To be sure, these Continue Reading
Peak oil: What happens when the drilling is done?
A seismic shift It seems like we’ve been talking about “peak oil” for a long time, but the meaning has shifted radically in the last few years. Historically the phrase Continue Reading
McDermott contract to help boost oil offshore Saudi Arabia
Vague on specifics, a contract for oilfield services company McDermott International is tied to boosting oil production for offshore Saudi Arabia. McDermott in its release to the press said work Continue Reading
Saudi Prince Shakes Royal Family With Crackdown
In what amounts to a top-down revolution in the House of Saud, an aging king and his son are shattering the monarchy’s long-held tradition of ruling by consensus and accelerating Continue Reading
Greed and intrigue grip Saudi Arabia
A prime minister vanishes. A ballistic missile explodes. An Arab prince rounds up some of his relatives on corruption charges and detains them in a deluxe hotel where they sleep Continue Reading
Kingdom Of Fear: Saudi Arabia On Lockdown
Events in Saudi Arabia are unfolding at a blinding pace, with a radical shift taking place within the upper echelons of government. Last weekend, King Salman announced the set-up of Continue Reading
New York Listing Unlikely For Aramco IPO
Aramco is highly unlikely to list on the New York Stock Exchange, Mark Mobius, executive chairman of Templeton Emerging Markets Group, told CNBC. The reason: risk of litigation. Interestingly, however, Continue Reading
Saudi “Deep State” Prince Bandar Among Those Arrested In Purge
According to a new report by Middle East Eye , Prince Bandar bin Sultan – Saudi Arabia’s most famous arms dealer, longtime former ambassador to the US, and recent head Continue Reading
OPEC, NOPEC Agreement ‘Unlikely’ to Emerge in November Meeting
The chances of a coordinated statement between OPEC and its non-OPEC partners on an extension of production cuts is ‘increasingly unlikely’. The chances of a coordinated statement between OPEC and Continue Reading
Lebanese offshore oil and gas licensing round continues despite political crisis
Lebanon’s Energy Minister on Friday called on companies bidding in its first round of licensing to explore for oil and gas in its Mediterranean waters to begin technical discussions, suggesting Continue Reading
Kurdish oil export payments in line with average
Companies working inside Kurdish territory in northern Iraq report oil export payments in line with historic norms. Photo courtesy of Genel Energy. Nov. 10 (UPI) — Energy companies working inside Continue Reading
Iran to facilitate Kirkuk exports
By trucking crude to Iran, the Oil Ministry would reduce dependence on the KRG-controlled export system and open a new outlet for Kirkuk oil that is currently stranded. Deputy Oil Continue Reading
Venezuela’s Oil Rival Calls For Full U.S. Sanctions
Argentina’s President, Mauricio Macri, has called on the United States to install a full embargo on Venezuelan oil shipments. In an interview for the Financial Times, Macri said that the Continue Reading
Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
Another militant group in the Niger Delta has vowed to break its truce against the Abuja government and restart attacks on oil and gas infrastructure in the area, according to Continue Reading
Kenya Set To Give Local Communities Greater Share Of Oil Revenues
Kenya plans to allocate 30 percent of future oil revenues to the community where the crude oil has been discovered, backtracking on a previous proposal to cap revenues at specific Continue Reading
Nigeria’s Bonny Light crude at 3-month high on steadier exports
Nigeria’s Bonny Light crude has seen its price rise to its highest levels since February, as the grade began to trade in a more regular fashion in the spot market Continue Reading
Venezuelan Oil Output Heads to 29-Year Low as Cash Crunch Grows
Venezuela is set to pump the least oil in almost three decades, just when it needs petrodollars the most. (Bloomberg) — Venezuela is set to pump the least oil in Continue Reading
Sinking feeling: Asian floating oil storage declines as crude market tightens
The amount of oil stored on tankers around Singapore has dropped sharply in the last months, the latest indication that OPEC-led supply cuts are successfully tightening crude markets even as Continue Reading
In India, Air So Dirty Your Head Hurts
A toxic cloud has descended on India’s capital, delaying flights and trains, causing coughs, headaches and even highway pileups, and prompting Indian officials on Wednesday to take the unprecedented step Continue Reading
Delhi, Blanketed in Toxic Haze, ‘Has Become a Gas Chamber’
The toxic haze blanketing New Delhi was so severe on Tuesday that politicians announced plans to close schools, flights were delayed and the chief minister of Delhi state said the Continue Reading
The Oil Rig Drilling 10 Miles Under The Sea
Final sea trials for the Blue Whale II underwater drilling rig are now underway , according to the technology’s producer, CIMC Raffles, marking a new milestone drilling rig developments. The Continue Reading
Rosneft, China To Deepen Strategic Cooperation
Russia’s state-controlled oil giant Rosneft and Chinese energy company CEFC—which has agreed to buy 14 percent in Rosneft—are deepening their strategic cooperation by signing an agreement to study the possible Continue Reading
U.S. drillers add the most oil rigs in a week since June: Baker Hughes
U.S. energy companies added the most oil drilling rigs in week since June as crude prices traded up to their highest levels since the summer of 2015. Drillers added nine Continue Reading
Vehicle emissions per driver on the rise, study finds
The average emissions emitted per individual driver in the United States is getting worse, a report Friday from the University of Michigan found. The Transportation Resource Institute at the university Continue Reading
Are Oil Markets Immune To U.S. Shale?
Oil prices pulled back slightly following the release of the Baker Hughes rig count report, but geopolitical risk still remains, and with the assumption that OPEC will extend its production Continue Reading
Paradise Papers Reveal U.S. Selling Russian LNG In Europe
The new massive data leak that has been making headlines for several days now has revealed that a company with U.S. ownership has been buying Russian gas and selling it Continue Reading
US House Republicans plan repeal of oil, gas tax credit, without opposition
The US tax code overhaul being pushed by House Republicans calls for eliminating a credit for producing oil and natural gas from marginal wells, but the industry group that originally Continue Reading
Baker Hughes: US Drillers Add The Most Oil Rigs In A Week Since June
Nov 10 (Reuters) – U.S. energy companies added the most oil drilling rigs in week since June as crude prices traded up to their highest levels since the summer of Continue Reading
EV corridor will stretch from Norway to Italy
German utility company E.ON and a mobility service provider said Friday they would work to establish an electric-vehicle corridor linking Norway to Italy. With $11.6 million in funding from the Continue Reading
Italy Looks To Phase Out Coal-Fired Electricity By 2025
Italy’s government unveiled on Friday a new national energy strategy aiming to phase out coal in electricity generation by 2025, and significantly boost the share of renewables in total energy Continue Reading
Oil markets stable as markets tighten, but analysts expect volatility ahead
Oil markets were slightly down but stable on Friday, supported by ongoing supply cuts and strong demand which have resulted in a tightening market, although the prospect of rising U.S. Continue Reading
Bans on Internal Combustion Engines May Backfire
A number of countries have stated their intention to ban the internal combustion engine (ICE) and shift to all electric vehicles in the next couple of decades. These announcements are Continue Reading
Don’t Be Caught Unprepared for the EV Tsunami
The long years of waiting for electric vehicles (EVs) to enter the mainstream are over. Largely thanks to sharply falling prices, EV sales in the U.S. have been growing at Continue Reading
Study: 100% renewable electricity worldwide is feasible, and cheaper than business-as-usual
Currently, the global electricity sector amount to 11 Gt of CO2 equivalent. According to a new study from German non-profit Energy Watch Group and the Lappeenranta University of Technology in Continue Reading
Oil Refining Could Become Much Less Lucrative
If the world gets serious about cutting greenhouse gas emissions, the global refining industry will be forced to contract. That may seem like an obvious conclusion, but a new report Continue Reading
DNO says Kurdish oil operations continuing without interruption
Norwegian oil and gas company DNO said it’s operations in the Kurdish region of northern Iraq were proceeding as normal. Photo courtesy of DNO. Nov. 9 (UPI) — Norwegian oil Continue Reading
OPEC’s War Against Shale Is Far From Over
Despite the recent market rally and current bullish streak in oil prices, the years-long competition for market share between OPEC and U.S. shale producers shows no sign of abating, and Continue Reading
Is OPEC Deal Compliance About To Crash?
OPEC is declaring victory in its efforts to rebalance supply and demand and bring the oil market back to stability—its favorite proxy buzzword for less volatile and relatively high oil Continue Reading
Saudi Arabia to cut crude exports by 120,000 barrels per day in December
DUBAI (Reuters) – Saudi Arabia plans to cut crude exports by 120,000 barrels per day (bpd) in December from November, reducing allocations to all regions, a spokesman for the energy Continue Reading
Kingdom Of Fear: Saudi Arabia On Lockdown
Events in Saudi Arabia are unfolding at a blinding pace, with a radical shift taking place within the upper echelons of government. Last weekend, King Salman announced the set-up of Continue Reading
UAE energy minister sees no big challenges in output pact extension
UAE Energy Minister Suhail bin Mohammed al-Mazroui said that oil producers will have little difficulty taking a decision later this month about extending a global output deal, he was quoted Continue Reading
Scores more Saudis detained in $100 billion corruption sweep
Dozens of more people have been taken into custody by Saudi authorities, the kingdom said Thursday, bringing to 201 the number detained in a sweep that investigators say has uncovered Continue Reading
Is Saudi Arabia Lying about Its Oil Inventories?
Saudi Arabia’s reports about declining crude oil inventories were instrumental in the buildup of trust on the market that OPEC’s—and the Kingdom’s specifically—efforts to rebalance crude oil’s fundamentals were working. Continue Reading
Saudi Aramco signs engineering and construction deals worth $4.5 billion
Saudi Aramco signed agreements on Thursday worth $4.5 billion with firms from Europe, the United States, China and the United Arab Emirates for work on a range of oil and Continue Reading
Arrests of Saudi media moguls raise ownership fears
Among the 200 princes, businessmen and senior officials arrested in Saudi Arabia’s sweeping anti-corruption crackdown are the two most important media moguls in the Arab world, potentially giving the kingdom’s Continue Reading
Venezuelan debt: ‘Qué Pasa?’
Last Friday Venezuelan bondholders received a perfectly resistible invitation. They were asked to present themselves on November 13 2017 in Caracas to meet an individual identified by US authorities as Continue Reading
Venezuela inches closer to a formal default
Venezuela is closer to a formal default on its debts, with a global derivatives body set to rule on whether credit insurance should be paid out after a crucial payment Continue Reading
Delhi reintroduces car rationing to curb pollution
More than a third of the city’s three million private cars were off the road during the trial period last year The government in the Indian capital, Delhi, has reintroduced Continue Reading