Global gas supplies currently exceed demand, a situation that could lead to a “crisis” drop in prices similar to what occurred in the crude oil market, Russian energy minister Alexander Continue Reading
Oil prices surged on Wednesday on news that the Keystone pipeline might not restart for several weeks. The outage at the damaged pipeline ended several years of contango for WTI, Continue Reading
U.S. crude oil rose to a two-year high on Friday, as the shutdown of a major crude pipeline from Canada to the United States tightened North American markets. Trading activity Continue Reading
TransCanada is said to have reduced line’s shipments by 85% Ministers from six OPEC countries and Russia meet in Bolivia Oil extended its rally above $58 a barrel as supply Continue Reading
U.S. crude futures prices have swung into substantial backwardation after a spillage on the Keystone pipeline severely reduced crude deliveries from Canada into the U.S. Midwest. U.S. crude futures, also Continue Reading
This seems unlikely, both in the short and long term, and in the context of new energy sources. But there’s always politics It took the better part of a year Continue Reading
The world’s top oil exporters are undoubtedly some of the world’s most influential countries. As such, it behooves analysts to always stay abreast of the internal dynamics of these economic Continue Reading
There will be an OPEC deal extension—no matter the public tussling between opposing forces in the industry cartel—if the world’s largest oil producers are really determined to end the supply Continue Reading
A draft agenda for OPEC’s meeting on Nov. 30 in Vienna pencils in three hours for the group’s oil ministers to decide whether to extend their oil supply curbs, indicating Continue Reading
Russia is ready to discuss an extension of a global deal between OPEC and other countries to cut oil output in Vienna on November 30, TASS news agency quoted the Continue Reading
Andy Hall is said among analysts who briefed OPEC officials Annual shale growth forecasts from 300,000 b/d to 1.7 million OPEC will have to decide whether to extend global oil Continue Reading
Uzbekistan is in the grip of another fuel crisis, with some parts of country reportedly left without any supplies of gasoline. While the Central Asian republic has regularly experienced fuel Continue Reading
In asserting himself over Saudi Arabia, 32-year-old Crown Prince Mohammed bin Salman is imposing a trade-off that appeals to many fellow young Saudis. The prince, in essence, is broadening social Continue Reading
Kurdistan’s crude oil exports increased in the past couple of days, but oil flows are still well below the levels seen before the independence referendum in the semi-autonomous region that Continue Reading
The Climate Science Special Report that the Trump administration released last Friday is straightforward and relentlessly sobering. Scientists from 13 government agencies agree that the long-term global warming trend is Continue Reading
The Permian shale play has been attracting so much attention lately it’s started to get a little bit boring. But not for oil investors. The rush to the Permian has Continue Reading
His analysis is based on RRC data only. Each RRC data set from Jan 2014 to Sept 2017 for crude and from April 2014 to Sept 2017 for condensate and Continue Reading
The House of Representatives has criticised a bid by the Nigerian National Petroleum Corporation, NNPC to spend $1.8 billion on the maintenance of the refineries across the country. In a Continue Reading
The OPEC/non-OPEC production cuts hurt Russia’s economic growth in October, Economy Minister Maxim Oreshkin said on Thursday in the first negative comment about the pact from a high-ranking Russian official. Continue Reading
U.S. oil prices eased back from a two-year high on Thursday, as concerns about oversupply outweighed the impact of a pipeline shutdown in the United States. U.S. light crude CLc1 Continue Reading
The 20 percent increase in oil prices since September led to a wave of hedging by U.S. shale drillers eager to lock in future production at prices not seen in Continue Reading
Oil settled at a two-year high Wednesday after the shutdown of one of the largest crude pipelines from Canada cut supply to the United States. o The restart of the Continue Reading
Weak British economic growth wasn’t enough to offset short-term pipeline issues in North America or OPEC rumors that lifted oil prices higher on Wednesday. The British Office for Budget Responsibility Continue Reading
The two countries, world leaders in population size, will be crucial drivers in world economic growth and the consumption of energy. But measuring future trends with any accuracy has been Continue Reading
The number of oil and gas rigs in the United States rose again this week. The boost in the number of active oil rigs this week brings the total gained Continue Reading
Eric Holthaus at Grist has a look at Antarctica’s melting glaciers – Ice Apocalypse. In a remote region of Antarctica known as Pine Island Bay, 2,500 miles from the tip Continue Reading
OPEC’s most powerful internal alliance, bringing together the oil producer group’s Gulf members, is disintegrating fast. As a six-month-old spat between Saudi Arabia and Qatar deepens, the organization’s Gulf ministers Continue Reading
OPEC will need to extend supply cuts when it meets next week to end years of global oil oversupply, oil ministers from two OPEC members said on Wednesday, just over Continue Reading
In a bid to reduce gas flaring and pay off outstanding reparations for the 1990 invasion of Kuwait, Iraq has hired Japanese firm Toyo Engineering to help it build a Continue Reading
Thousands of federal and Kurdish soldiers are pointing their weapons at each other, leaving volatile territory inadequately guarded and vulnerable to an emboldened IS insurgency. Iraqi forces drive past an Continue Reading
Venezuelan state-run oil company PDVSA is in contract talks to export natural gas to neighbors Colombia, Trinidad and Tobago, and Aruba, a company official said on Wednesday. Gas sales could Continue Reading
Venezuelan Attorney General Tarek Saab said Tuesday the acting president and five directors of Citgo Petroleum Corp. tried to defraud the nation. American citizens were among the executives at Citgo Continue Reading
Ecopetrol will invest between $3.5 billion and $4 billion during 2018, the majority in production and exploration projects. BOGOTA, Nov 22 (Reuters) – Colombia’s state-run oil company Ecopetrol said on Continue Reading
Venezuela’s PDVSA is in talks with Russia’s Rosneft, Italy’s Eni, Spain’s Repsol, and Norway’s Statoil to get credit for oil and gas projects, a company executive said on Wednesday, in Continue Reading
Some northern Chinese cities failed to improve air quality by much last month, hitting the smog-prone region’s overall results in a drive against pollution, the government said as it warned Continue Reading
A rally in China’s diesel prices has pushed the fuel to a rare premium over gasoline as dealers scramble to scoop up supplies amid fears of shortages due to Beijing’s Continue Reading
U.S. crude oil stockpiles fell last week, with most of the decline coming out of the Cushing, Oklahoma storage hub, while gasoline and distillate inventories rose slightly, the Energy Information Continue Reading
The number of rigs drilling for oil in the U.S. rose by nine to 747 this week. The number of rigs drilling for oil in the U.S. rose by nine Continue Reading
The prospect of a prolonged clean-up from a leak along a large oil pipeline sent US crude prices higher on Wednesday, as traders braced for lower supplies from Canada. The Continue Reading
U.S. crude oil refinery inputs averaged over 16.8 million barrels per day during the week ending November 17, 2017, 199,000 barrels per day more than the previous week’s average. Refineries Continue Reading
Weekly US coal production totaled an estimated 14.9 million st in the week that ended November 18, up 0.9% from the prior week, but down 6.2% compared with the year-ago Continue Reading
Dean Fantazzini has provided his latest estimates of Texas oil and natural gas output. His analysis is based on RRC data only. Each RRC data set from Jan 2014 to Continue Reading
As we all know from the personal experience of enduring long lines at the airport and inching along frosty highways in bumper-to-bumper holiday traffic, Thanksgiving week is unquestionably one of Continue Reading
BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall committed to reduce further methane emissions from the natural gas assets they operate around the world. The energy companies also agreed Continue Reading
Today a Nebraska commission handed TransCanada the final permit it needed to build its long-contested Keystone XL pipeline, a decision which did not consider the company’s previous safety violations. The Continue Reading
The clean-up of an oil spill from TransCanada Corp’s Keystone pipeline may last several weeks, South Dakota’s environmental regulator said on Wednesday, but it is still unclear when the key Continue Reading
Exxon Mobil joined European peers including Royal Dutch Shell and Total in a new initiative to find ways to reduce potent emissions in their rapidly growing natural gas operations. BP, Continue Reading
The number of new bidders trying to wade into the British offshore energy sector is a vote for as much as 6 billion barrels of new oil, a trade group Continue Reading
Russia’s budget deficit is moving in a direction indicative of economic recovery even as oil prices remain low by historic standards, a minister said. The budget deficit will be around Continue Reading
Norwegian energy company Statoil said Wednesday its Dudgeon wind farm off the British coast is now feeding the grid from its 67 wind turbines. The Dudgeon wind farm is about Continue Reading
