Venezuela Is Losing Its Best Oil Buyer
Venezuelan president Nicolas Maduro said this week that PdVSA is willing to retaliate against financial sanctions from the U.S. by suspending oil exports to the country, sending crude to Asia Continue Reading
U.S. Vastly Overstates Oil Output Forecasts, MIT Study Suggests
Estimates from EIA exaggerate impact of fracking technology New well output could undershoot EIA forecasts by 10% in 2020 Turns out, America’s decade-long shale boom might just end up being Continue Reading
U.S. drillers add oil rigs for second week in a row: Baker Hughes
U.S. energy companies this week added oil rigs for a second week in a row as crude prices traded near their highest levels since the summer of 2015 as major Continue Reading
Alaska Drilling Dividend
Republicans aren’t advertising it, but a pro-growth bonus in the Senate tax cut bill is that it finally opens up a small part of the Arctic National Wildlife Refuge (ANWR) Continue Reading
Oil Rig Count Rises After OPEC Deal Extension
A day after OPEC extended the already-extended production cut deal to end-2018, oil and gas rigs in the US climbed by 6 . The boost to the number of oil Continue Reading
Oil in mid-$60 per barrel range fair, Russian company says
A price range for crude oil of between $60 and $65 per barrel is a good point on which to base a budget, the head of Russian oil company Lukoil Continue Reading
Danish gas field gets new life after fate questioned
Danish energy company Maersk Oil said Friday it was moving ahead with a $3.3 billion effort to redevelop the offshore Tyra gas field, Denmark’s largest. “Tyra has been a key Continue Reading
Russia Ups Oil Price Forecast For 2018
Russia’s Economy Ministry will increase its forecast for the price of the country’s Urals oil blend for 2018, following the extension of the OPEC/non-OPEC production cut agreement extension, announced yesterday Continue Reading
Lukoil CEO says oil markets won’t overheat
Oil markets will not overheat as they did during a price spike in the last decade as global demand is rising fast and the alliance of OPEC and non-OPEC countries Continue Reading
Oil Prices Rise After OPEC Announces Deal
Oil prices closed higher lower on Thursday after a group of major oil producers agreed to extend supply cuts through the end of next year. Light, sweet crude for January Continue Reading
Beware of the Dip: Oil Prices Could Go Lower
The spike in oil prices since August provides U.S. producers an attractive opportunity to hedge their 2018 capital program. With a typical lag, it will likely result in an acceleration Continue Reading
Fear Will Drive Oil Prices In 2018
The price of oil has always been driven by cycles of fear and complacency. During the cycle of fear, geopolitical events can send the price of oil soaring. During the Continue Reading
Goldman Says Oil Market’s Too Jittery When There’s No Need to Be
OPEC deal cuts risk of surprise supply gain, excess stock draw Bank says backwardation may be greater than current projection Don’t worry about long-term oil supply, according to Goldman Sachs Continue Reading
Looking Ahead to 2018 for Nuclear Energy
Each year this blog looks ahead to issues it will follow in the coming 12 months. What this look into the future does is to provide some check marks on Continue Reading
OPEC and Russia Extend Output Cuts, Strengthening Oil Alliance
All participants agreed market is moving in right direction Libya, Nigeria accept production limits for the first time OPEC and its allies outside the group agreed to maintain oil production Continue Reading
OPEC, Russia agree oil cut extension to end of 2018
OPEC and non-OPEC producers led by Russia agreed on Thursday to extend oil output cuts until the end of 2018 as they try to finish clearing a global glut of Continue Reading
Visualizing OPEC’s Success
But it hasn’t all been plain sailing. In fact, it’s been decidedly choppy. From an export perspective, certain cartel members have made a concerted effort to keep crude off the Continue Reading
Oil prices rise after OPEC extends output curbs
Oil prices edged higher on Friday, a day after OPEC and other major producers agreed to extend output curbs until the end of 2018 in a bid to tackle global Continue Reading
As OPEC extends output cuts, Asia turns to North America for more oil
Asian refiners are losing no time reacting to a decision by OPEC and Russia to extend their agreed production cuts to all of 2018, ordering more oil from the Caribbean Continue Reading
Nigeria Delta Protestors Shut Down Two Oil Wells
Protestors shut down Adibawa wells 4 and 10, which feed into a flow station of the same name. Hundreds of demonstrators, comprising youths, elderly people, and women gathered to sing Continue Reading
Statoil takes stronger position in Argentina’s shale
Statoil owned Fagervika oil reservoirs in Trondheim, Norway in 2009. Photo by Sveter/Wikimedia Commons Nov. 30 (UPI) — Norwegian energy company Statoil said it expanded its footprint in Argentina by Continue Reading
Chevron to study Mexican oil block, no drilling seen in first four years
U.S. oil major Chevron Corp will focus on studying the geology of its block in Mexico’s deepwater Gulf during the first four-year phase of its contract, rather than drilling new Continue Reading
Venezuela arrests ex-oil bosses for graft in widening purge
Venezuelan authorities on Thursday arrested two once-powerful officials who had run the oil ministry and state energy company PDVSA as part of a deepening industry purge also seen as a Continue Reading
How Big Oil Is Transforming Shale
Shale drillers have successfully lowered their breakeven price over the past several years, but the industry is looking for more ways to cut costs. The oil majors are investing in Continue Reading
U.S. Shale To Surge After OPEC Extension
Just as expected: OPEC and the group of non-OPEC countries led by Russia extended their production cuts for an additional nine months through the end of 2018. “It’s been a Continue Reading
Alaska Drilling Dividend
Republicans aren’t advertising it, but a pro-growth bonus in the Senate tax cut bill is that it finally opens up a small part of the Arctic National Wildlife Refuge (ANWR) Continue Reading
U.S. EPA ups biofuel targets slightly, draws scorn from refiners
The U.S. Environmental Protection Agency said on Thursday it will require fuel companies to blend slightly more biofuels into the nation’s gasoline and diesel next year, angering oil refiners who Continue Reading
The Atlantic hurricane season from hell is finally over
Tracks of all Atlantic tropical cyclones in 2017. Their lifetime peak wind speed and minimum pressure are listed on the right. The horrible hurricane season that we desperately wanted to Continue Reading
U.S. East Coast Looks To Become Hub For Wind Power
As you’d expect from the land that’s home to the city that never sleeps, now that New York has embraced wind power, it’s already making some impressive claims about wind’s Continue Reading
Electricity Prices Plummet as Gas, Wind Gain Traction and Demand Stalls
The cost of generating power from wind turbines is falling. The rapid rise of wind and natural gas as sources of electricity is roiling U.S. power markets, forcing more companies Continue Reading
U.S. wind turbines getting taller and more efficient
U.S. federal data show installed wind turbines are taller and more efficient than in the past, though hydroelectric power still holds a slight edge. The U.S. Energy Information Administration found Continue Reading
Keystone spill caused by damage during installation
Mechanical damage from construction of a section of the Keystone pipeline in 2008 in South Dakota likely resulted in the latest release, a federal report found. TransCanada closed down much Continue Reading
U.S. set to be net gas exporter for second year in a row
For the second year in a row, the United States is on pace to become a net gas exporter once the year is over, the federal government reported. The federal Continue Reading
U.S. biodiesel output falls to 147 million gallons in September: EIA
U.S. biodiesel production fell to 147 million gallons in September from 149 million gallons a month earlier, the U.S. Energy Information Administration said in a report on Thursday. Soybean oil Continue Reading
Arctic drilling hits speed bumps in U.S. tax bill
A quest by Republicans to open Alaska’s Arctic National Wildlife Reserve was slowed after a nonpartisan Senate official ruled late on Wednesday that the exploration was subject to environmental assessments Continue Reading
In the heart of coal country, EPA gets an earful about Clean Power Plan’s fate
Coal executive Robert Murray ambled through the packed hearing room inside the gold-domed capital complex here, past reporters and photographers, past environmental activists and energy lobbyists, past more than two Continue Reading
One of the country’s biggest oil fields just turned to an unexpected power source: Solar
The Belridge oil field near Bakersfield, Calif., is one of the largest in the country. It has been producing oil for more than a century and last year produced about Continue Reading
Graphene balls for lithium rechargeable batteries with fast charging and high volumetric energy densities
Improving one property without sacrificing others is challenging for lithium-ion batteries due to the trade-off nature among key parameters. Here we report a chemical vapor deposition process to grow a Continue Reading
GM Aims for Self-Driving Taxi Fleet by 2019
General Motors Co. said the robotaxi service it is developing could potentially eclipse the profits it earns in the core automotive business within a decade, an ambitious target based on Continue Reading
General Motors aims to run fleets of self-driving taxis by 2019
General Motors aims to launch a public ride-sharing service across several cities that uses fully self-driving cars by 2019, potentially becoming the first traditional carmaker to deploy autonomous technology at Continue Reading
Russia sees poverty as a ‘striking problem’
Russian Prime Minister Dmitry Medvedev says poverty is a “striking problem” in the country. Russia, whose economy relies heavily on oil and natural gas revenue, needs to take “real steps” Continue Reading
Cold Blast Headed for Europe Won’t Faze a Very Warm 2017
December forecast to be coolest since 2010 despite warm tail Power, gas markets to be well-supplied unless cold is extreme Europe’s coldest December for seven years is unlikely to derail Continue Reading