Houthi Rebels Threaten To Attack Saudi Oil Tankers
The Houthi rebel group in Yemen has threatened to start attacking oil tankers and warships sailing under enemy flag if the Gulf coalition fighting it in the country does not Continue Reading
Aramco To List Shares In Hong Kong ‘For Sure’
Saudi Aramco is still studying the international venue for its IPO, but the chief of the Hong Kong stock market is certain that the Saudi oil giant will be attracted Continue Reading
Saudi Aramco To Invest $300 Billion In Upstream Projects
Saudi Aramco plans to invest some US$300 billion in upstream oil and gas projects over the next ten years, Aramco’s chief executive Amin Nasser said at the ADIPEC energy conference Continue Reading
Iran Denies Involvement In Bahrain Oil Pipeline Blast
Tehran has denied that it had anything to do with the blow-up of Bahrain’s biggest oil pipeline that carries crude from Saudi Arabia. In a statement carried by media, the Continue Reading
Abu Dhabi to boost capacity of giant Upper Zakum, Bab oil fields
Abu Dhabi said on Tuesday that it would increase the capacity of its giant Upper Zakum offshore oil field, one of the world’s largest, to 1 million barrels per day Continue Reading
Total chief says would have to review Iran gas deal if new sanctions arose
French oil and gas major Total would have to review its Iran gas project if the United States decided to impose unilateral sanctions on Tehran, given its interests in the Continue Reading
The War That Would Transform Oil Markets
A fire erupted at an oil pipeline connecting Bahrain and Saudi Arabia, and the two Arab allies are pointing the finger at Tehran . Iranian officials denied any involvement, but Continue Reading
Tracking the declines in ISIS oil production
To arrive at a more precise figure, my colleagues and I developed a tool, as reported in a recent paper , that uses satellite imagery to evaluate in real time Continue Reading
BP CEO Sees Venezuela As Oil’s Wildcard
Venezuela—not the Middle East—is the wild card when it comes to the near future of the oil industry, BP’s chief executive Bob Dudley told CNBC on the sidelines of the Continue Reading
Venezuela Declared in Default by S&P After Missing Bond Payments
Grace period expired on $200 million of interest payments State oil company had already defaulted, Moody’s and Fitch say Venezuela, one of the world’s riskiest credits, was declared in default Continue Reading
S&P Rules Venezuela in Default on Interest Payment
Venezuela was ruled in default on a missed interest payment by S&P Global Ratings, pushing the cash-strapped South American country and its creditors one step closer to a reckoning of Continue Reading
Venezuelan Officials Offer Few Details During Debt Restructuring Talks
Scores of international creditors flew into this crime-ridden capital for a meeting on Monday with Venezuela’s government to discuss how the country might avoid a messy default on more than Continue Reading
Venezuelan Oil Output Drops To Lowest In 28 Years
Venezuela’s oil output dropped to its lowest in 28 years last month, according to new data released by OPEC on Monday. The oil-dependent economy produced only 1.863 million barrels of Continue Reading
EU readies sanctions on Venezuela, approves arms embargo
European Union foreign ministers approved economic sanctions including an arms embargo on Venezuela on Monday, but will decide who to target at a later stage, officials said. Venezuela’s President Nicolas Continue Reading
China’s oil demand to reach 15.5 million b/d in 2040: IEA
Oil demand from China’s transportation sector will peak in 2030, and flatten thereafter, mainly due to falling gasoline demand for passenger vehicles that become more efficient and increasingly electricity-driven, the Continue Reading
Shell to repair damaged portions at Enchilada platform, re-deploy personnel
Royal Dutch Shell Plc said it was in the process of developing a plan for repairing the damaged parts at its Enchilada platform and re-deploying personnel following its shutdown after Continue Reading
U.S. committed to Paris deal even if Trump isn’t, parties say
Former New York City Mayor Michael Bloomberg said non-federal funds were displacing the U.S. government’s with the effort to address climate change. “The American government may have pulled out of Continue Reading
Thousands of scientists issue bleak ‘second notice’ to humanity
Planet Earth (NASA) In late 1992, 1,700 scientists from around the world issued a dire “ warning to humanity .” They said humans had pushed Earth’s ecosystems to their breaking Continue Reading
GE Looks To Divest Energy Assets As Turmoil Continues
General Electric Corp., as part of a turnaround plan announced November 13, halved its common stock dividend, from $.24 to $.12. per quarter, a fifty percent reduction. Wall Street had Continue Reading
U.S. Congress Slashes Support For Renewables And EVs
Take the ongoing soap opera of who in the energy sector is likely to gain or lose benefits from the current Congressional tax plan. While retaining at least $15 billion Continue Reading
Fisker files patents on solid-state battery technology; anticipating automotive-ready from 2023
Fisker’s scientists, including a co-founder of solid-state battery start-up Sakti3 (acquired by Dyson, earlier post ), filed patents this week (under a non-publication request) on flexible, superior energy density solid-state Continue Reading
Four Gulf of Mexico oil platforms shut after Enchilada fire: Shell
Royal Dutch Shell said on Tuesday that production at four oil platforms in the Gulf of Mexico has been shut in the wake of a Nov. 8 fire at its Continue Reading
US crude output set to rocket, says IEA
Growth in US oil output until 2025 will be the strongest seen by any country in the history of crude markets, making it the “undisputed” leader among global producers, the Continue Reading
Don’t Back U.S. Shale To Keep Oil Prices Down
WTI is back in the upper-$50s per barrel, and OPEC is on the verge of extending its production limits well into next year. The fear for OPEC, and other oil Continue Reading
Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
Shale production at American oil production sites will increase by 80,000 barrels per day next month, according to estimates from the Energy Information Administration. So far, every month in 2017 Continue Reading
Russian oil company eying Gulf of Mexico opportunities
Russian oil producer Lukoil said it may be setting up a partnership to work in the Mexican waters of the Gulf of Mexico. File photo by A.J. Sisco/UPI Nov. 13 Continue Reading
Shell’s divestment streak continues, shedding Woodside shares
Picking up from where it left off before stating its earnings, Royal Dutch Shell said it was taking $1.7 billion for the sale of a stake in Australia’s Woodside. Shell Continue Reading
Quick German coal exit would endanger power supply security: RWE
German coal-biased utility RWE on Tuesday warned of a quick exit from coal power to further reduce carbon dioxide (CO2) emissions, which the Green Party is demanding in talks to Continue Reading
EU natural gas demand to stay at current levels despite likely boost from power: IEA
EU natural gas demand is unlikely to rise from current levels in the coming years despite an expected boost in consumption from the power sector, the International Energy Agency said Continue Reading
Oil markets cautious on Middle East tensions, increased U.S. drilling
Oil trading was cautious on Monday amid ongoing tensions in the Middle East and after a rising rig count in the United States suggested producers there are preparing to increase Continue Reading
6 Factors Will Hasten Or Defer Peak Oil Demand
We haven’t reached peak oil consumption globally, also known as peak demand. We are likely to reach it globally by 2050, but it’s unlikely to occur before 2030 at 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
Oil market rebalancing at accelerating pace: OPEC secretary-general
The oil market is rebalancing at an accelerating pace, as global levels of oil inventories have fallen visibly and demand for oil is robust, OPEC Secretary-General Mohammad Barkindo said on Continue Reading
Saudi Arabia Boosts Oil Security as Iran Denies Pipeline Attack
Oil flow at Saudi-Bahrain pipeline resumed after halt ‘Era for lies and childishly laying blame is over:’ Iran An oil pump operates in the Awali oil field in Bahrain on Continue Reading
Saudi King Will Not Relinquish Throne, Senior Official Says
King Salman isn’t planning to abdicate in favor of his son, a senior Saudi official said, dismissing mounting speculation that Crown Prince Mohammed bin Salman will soon ascend to the Continue Reading
Saudi Arabia Boosts Oil Security as Iran Denies Pipeline Attack
Oil flow at Saudi-Bahrain pipeline resumed after halt ‘Era for lies and childishly laying blame is over:’ Iran An oil pump operates in the Awali oil field in Bahrain on Continue Reading
Aramco plans to spend $300 billion over 10 years in upstream oil and gas: CEO
Saudi Aramco plans to spend close to $300 billion over 10 years in upstream oil and gas projects, Chief Executive Amin Nasser said on Monday. Hamad I Mohammed Speaking at Continue Reading
Iraq aims to increase Kirkuk oilfield output to 1 million bpd: statement
Oil Minister Jabar al-Luaibi said Iraq plans to increase production from oilfields in Kirkuk to one million barrels per day and has visited the Bai Hasan and Avana fields to Continue Reading
UAE energy minister: no need to delay decision on extending production cuts
United Arab Emirates energy minister Suhail bin Mohammed al-Mazroui said on Monday that he saw no need for global oil producers to delay beyond their meeting later this month a Continue Reading
Moscow, Riyadh agree to explore Saudi Aramco taking part in Novatek LNG project: RIA
Russia and Saudi Arabia have agreed to study the possibility of national oil company Saudi Aramco taking part in Novatek’s Arctic LNG 2 project, RIA news agency reported on Monday. Continue Reading
Global Majors Eyeing Mexico’s Deep Waters
As the price of oil rises, an international rush is on for Mexico’s untapped deep-water riches. The who’s who of the oil world — led by Exxon Mobil Corp and Continue Reading
Smog chokes Indian capital as emergency measures fail to bring relief
A thick cloud of toxic smog 10 times the recommended limit enveloped India’s capital, New Delhi, on Monday, as government officials struggled to tackle a public health crisis that is Continue Reading
China Gas sees bumper sales growth, to expand grid
China Gas Holdings, one of China’s largest domestic natural gas distributors, expects sales to rise 30-45 percent this fiscal year and “sustainable high growth” the next few years due to Continue Reading
A U.S. Natural Gas Bonanza In China Isn’t A Done Deal
Building liquefied natural gas (LNG) plants is a notoriously expensive and lengthy proposition: one reason a 2012 study found the cost of the Alaskan project might actually be as high Continue Reading
China recovery pushes greenhouse emissions to global record
Stronger Chinese economic growth will push global greenhouse gas emissions to a record high in 2017 after remaining flat for three years, dashing tentative hopes of a turning point in Continue Reading
$43 Billion China-Alaska Energy Deal Looks Shaky
China’s largest oil company, Sinopec, signed a deal last week to explore the development of a massive $43 billion natural gas pipeline and LNG export terminal in Alaska. The project Continue Reading
Is Peak Permian Only 3 Years Away?
The world’s hottest shale basin, the Permian, is leading the second U.S. wave of tight oil production growth and will continue to do so for years to come, all analysts Continue Reading
Are Electric Cars As Clean As They Seem?
The concept of bunking the traditional engine for a non-gas guzzling counterpart has been here for decades, but creating an ecosystem for battery charging and bringing vehicle costs down was Continue Reading
A year after Trump’s election, coal’s future remains bleak
A year after Donald Trump was elected president on a promise to revive the ailing U.S. coal industry, the sector’s long-term prospects for growth and hiring remain as bleak as Continue Reading
Oil prices slide after U.S. drillers add rigs
Crude was down slightly on Friday as expectations OPEC and other producers will extend their production cut agreement were offset by U.S. drillers adding the most oil rigs in a Continue Reading