Exxon Mobil Corp. has joined with seven other big energy companies to reduce pollution from natural gas production, an effort by the industry to present itself as part of the Continue Reading
The UK’s Chancellor of the Exchequer, Philip Hammond, presented his Autumn Budget to Parliament. Among the elements in the budget are the launch of a new £400-million (US$530-million) Charging Investment Continue Reading
The Chancellor of the Exchequer, Philip Hammond, pledges to help the UK oil and gas industry by delivering an ‘innovative’ tax policy from November 2018. The Chancellor of the Exchequer, Continue Reading
Russia’s economic growth in October was negatively affected by a global deal between members of OPEC and Russia to curb crude oil production, Russia’s economy minister said on Thursday. Maxim Continue Reading
Oil prices rallied in Asian trading on Wednesday, extending a recent pullback as an industry group’s reading showing a drop in U.S. crude inventories raised hopes for a government report Continue Reading
The American Petroleum Institute (API) reported a draw of 6.356 million barrels of United States crude oil inventories, against a survey of S&P Global Platts analysts that predicted an inventory Continue Reading
Oil futures gained Tuesday ahead of the Thanksgiving holiday and a meeting next week of major oil producers to discuss a possible extension of output cuts. Light, sweet crude for Continue Reading
China made more than half of EV purchases in the third quarter Bloomberg New Energy Finance expects 1 million sold this year Electric vehicles sales surged to a record in Continue Reading
The world’s largest sovereign wealth fund is exiting the oil market—a fact that is sure to have shaken Big Oil to the core. Divesting $35 billion worth of supermajor stocks Continue Reading
It’s possible that 2017 may go down as the year when the concept of peak oil demand went from speculation to potential reality, as companies and energy analysts began estimating Continue Reading
While OPEC is said to be mostly leaning toward a 9-month extension of the production cuts, Russia’s Energy Minister Alexander Novak and major Russian oil companies discussed last week a Continue Reading
At the Middle East’s oldest oil refinery, giant, yellow-brick silos that stored Iranian crude and fuel products are mottled by bullet marks from the war with Iraq in the 1980s. Continue Reading
Toshiba-owned Westinghouse ( 6502.T ) is in talks with other U.S-based companies to form a consortium to bid in a multi-billion-dollar tender for two nuclear power reactors in Saudi Arabia, Continue Reading
A tycoon was called home to Saudi Arabia from abroad for a business meeting and detained when he returned. A billionaire was ordered to turn himself in or be picked Continue Reading
The Middle East is heading for a major showdown, if statements made by Saudi Crown Prince Mohammed bin Salman (MBS) and UAE’s minister of Foreign Affairs Gargash are to be Continue Reading
The U.S. subsidiary of PDVSA had suffered from unfavorable loans granted by the company’s detained senior officials, chief prosecutor Tarek William Saab said on Tuesday. The accusations are linked to Continue Reading
Iran is pushing to retain customers for its oil in Asia, hoping that price reductions will boost the appeal of its crude compared with other Middle Eastern supply even as Continue Reading
West African explorer FAR Ltd. said Tuesday that an independent audit has uncovered at least 1 billion barrels of oil offshore Gambia. FAR Ltd., an Australian company with a strong Continue Reading
Now that Venezuela, and its state-owned petroleum company PDVSA, were both officially declared in default on their debt by ISDA last Friday, analysts were closely watching what the insolvent Maduro Continue Reading
Venezuelan authorities on Tuesday arrested the acting president of its U.S.-based refiner Citgo and five of the subsidiary’s top executives as part of a spiraling corruption purge in the OPEC Continue Reading
Venezuela’s state-run PDVSA is siphoning oil from its cash-paying joint ventures with foreign firms to feed its domestic refineries, two sources close to the matter told Reuters, at a time Continue Reading
Australian and Indonesian miners have quietly done in the last two years what OPEC has been shouting about: tighten coal markets and prop up prices. The informal coal output reductions, Continue Reading
TransCanada Corp should push ahead with an $8 billion Keystone XL pipeline expansion after the state of Nebraska on Monday approved a route that would raise the cost of the Continue Reading
Last week I had articles published in both Forbes and the Wall Street Journal (WSJ) addressing a recent report from the International Energy Agency (IEA). The IEA made headlines when Continue Reading
Last week the International Energy Agency (IEA) released its World Energy Outlook 2017 . The report identified four large-scale shifts underway in the global energy system: The rapid deployment and Continue Reading
Oil prices jumped by over 1 percent on Wednesday as ongoing cuts of piped Canadian crude to the United States added to falling U.S. crude inventories, while expectations of a Continue Reading
TransCanada Corp has told some customers that it will cut deliveries by 85 percent or more on its 590,000-barrel-per-day Keystone crude pipeline through to the end of November, according to Continue Reading
Natural gas is produced as a byproduct when drilling for oil. Oil tends to be more lucrative, so shale companies typically target oil in places like the Permian, and the Continue Reading
Tesla is facing a real crossroads in its future as it runs behind schedule for the affordable, 220 mile range Tesla Model 3 reaching mass market. Why would the company Continue Reading
Russia’s meteorological service said on Tuesday it had measured pollution of a radioactive isotope at nearly 1,000 times normal levels in the Ural mountains, the first official Russian data supporting Continue Reading
The sale of gas fields in the British North Sea could be a sign that bigger companies are losing interest in an area with a bit of a future, analysis Continue Reading
Continental Europe is set for warmer-than-normal weather in December and through the winter, the Weather Company — formerly WSI — said in an update Tuesday, which would have a bearish Continue Reading
Laban Coblentz, Head of Communication, ITER gives an absorbing insight into all things fusion and the future of fusion energy From its earliest history, the human animal, among all species, Continue Reading
One month after a mysterious radiation cloud was observed over Europe, whose source remained unknown last week speculation emerged that it may have been the result of a “nuclear accident” Continue Reading
The Oil & Gas Authority (OGA) said it received a ‘great response’ to the United Kingdom’s latest offshore licensing round. The Oil & Gas Authority (OGA) has received a ‘great Continue Reading
Oil prices were little changed on Tuesday as the impact from expectations of an extended OPEC-led production cut was canceled out by rising output in the United States. Brent crude Continue Reading
The market wants to trade a demand slow-down of the future, while ignoring the fundamentals of the present Until recently, 100m barrels a day of global oil-product demand seemed a Continue Reading
Oil prices were steady Monday ahead of next week’s meeting of global crude producers where an extension of output cuts is set to be discussed. Brent crude , the global Continue Reading
If someone were to ask you to name the most-extracted materials on Earth, you might answer – fossil fuels or biomass. However, by weight, the answer is actually sand and Continue Reading
There are four or five factors indicating that the oil supply situation is likely to become extremely problematic within a decade. There is no recognition of this within the mainstream. Continue Reading
As the November 30 meeting in Vienna of OPEC and its partners in the oil production cut deal nears, worry has returned among traders: one of the brokers of the Continue Reading
But as the November 30 meeting draws near, oil prices have begun to rally on the back of a growing geopolitical risk premium as tensions rise in the Middle East. Continue Reading
Iraq is reviewing options with Turkey to get oil from a northern field to a port on the Mediterranean Sea. Getting oil flowing again from the fields in Kirkuk in Continue Reading
Iran’s oil minister said Monday that most members of the Organization of Petroleum Exporting Countries back extensions to a production cut agreement. On Friday, Phil Flynn , a senior market Continue Reading
Saudi authorities estimate they may be able to recover between $50 billion and $100 billion from settlement agreements with suspects detained in an anti-corruption crackdown that has implicated prominent princes, Continue Reading
Disruptions to Iraqi output and sales seen persisting to 2018 OPEC has to consider political risk pushing up prices: Yergin OPEC has an Iraq problem: the group’s second-biggest exporter is Continue Reading
For those who had not been paying attention to the rise of Saudi Arabia’s Crown Prince Mohammed bin Salman, his recent dramatic detention of fellow princes and other senior figures Continue Reading
Royal Dutch Shell is slated to exit the play in southern Iraq by June 2018, paving the way for other oil majors to take its place. American Chevron and French Continue Reading
Between November 1 and 20, Iraq’s crude oil exports from the south averaged 3.5 million bpd, up by 150,000 bpd from October and close to record highs, as Baghdad tries Continue Reading
Iraq’s security forces have found mass graves inside oil wells in an area in northeastern Iraq close to the oil-rich Kirkuk, and they believe the bodies are of civilians executed Continue Reading
