Nord Stream 2 Is A Game Changer For Gazprom
Perhaps in the aftermath of the Deepwater Horizon spill, BP attained similar levels of public oversight. Nevertheless, defying most trends, 2017 will go down in history as one of Gazprom’s Continue Reading
European Parliament endorses proposal for 12% share of energy from renewable energy in transport by 2030; 10% advanced biofuels
The European Parliament last week endorsed a series of proposals setting targets for cleaner, more efficient energy use. Among those was a proposal for a binding EU-level target of a Continue Reading
Oil Futures Pull Back Following Production Gains
Oil futures fell 1% in Asian trading on Friday, extending a late-day selloff in the U.S. amid concerns about rising oil production. Data on Thursday showed average daily U.S. output Continue Reading
Oil Prices Book Biggest Weekly Loss Since October
Oil prices accumulated a more than 1-percent decline this week, pressured by U.S. production growth, despite the variety of bullish demand forecasts and data about tightening global supply. A record-high Continue Reading
Oil falls 1 percent amid growing U.S. crude output concerns
Oil prices slid 1 percent on Friday and were on track for the biggest weekly falls since October despite hitting three-year highs earlier this week as concerns over growing U.S. Continue Reading
Peak oil demand and its implications for prices
Even if oil consumption reaches a peak and then starts to fall, the world will still need large quantities of oil for many decades to come. “Global oil demand is Continue Reading
U.S. shale spoiling the rally in oil prices
Growth in U.S. shale oil production is renewing supply-side concerns and sending crude oil prices into negative territory. File photo by Brian Kersey/UPI Jan. 19 (UPI) — Oil prices pulled Continue Reading
Kurdish gas reserve upgrade met with production questions
Genel Energy said Friday there were more natural gas resources in two of its Kurdish fields than expected, but an assessment said extraction might be complex. The company, which has Continue Reading
The Least Compliant Country In The OPEC Deal
Yesterday’s monthly oil market report from OPEC showed that oil production from Kazakhstan likely increased by 180,000 bpd in 2017 to 1.74 million barrels per day. Such a rise gives Continue Reading
Ghana: ‘Exxon Mobil Key to Developing Ghana’s Oil & Gas Industry’
The President of the Republic, Nana Addo Dankwa Akufo-Addo, says close co-operation between Ghana and the world’s largest publicly traded international oil and gas company, Exxon Mobil, will be instrumental Continue Reading
Nigeria: Fuel Crisis Worsens, As DPR Clamps Down On Illegal Oil Marketers
Despite assurances by the Nigerian National Petroleum Corporation, NNPC, of a return to normalcy in fuel supply, the fuel crisis worsened, yesterday, in Abuja, while transportation costs also rose astronomically. Continue Reading
Venezuela’s woes poised to hit U.S. oilfield service firms’ earnings
U.S. oilfield service companies exposed to Venezuela face new hits to earnings from the South American nation’s ongoing economic turmoil and U.S. sanctions on the country and state-run oil company Continue Reading
Former Hub of Venezuela’s Oil Wealth Turns to Hunger and Rust
A broken oil platform in the lake. Photo: Fabiola Ferrero for The Wall Street Journal A broken oil platform in the lake. Photo: Fabiola Ferrero for The Wall Street Journalinvestment Continue Reading
Sub-zero freeze in China spurs thermal coal imports
Freezing temperatures in Beijing to continue until the end of Jan. Sub-zero temperatures in parts of northern China are driving power plant thermal coal consumption higher and stimulating additional demand Continue Reading
Exclusive: Trump’s coal job push stumbles in most states
President Donald Trump’s effort to put coal miners back to work stumbled in most coal producing states lcoal-producing as overall employment in the downtrodden sector grew modestly, according to preliminary Continue Reading
U.S. oil drillers cut rigs for second time in three weeks:
U.S. energy companies this week cut oil rigs for the second time in three weeks even though crude prices traded near their highest level since 2014. Drillers cut five oil Continue Reading
Schlumberger sees sunny skies ahead for energy sector
Strong demand growth and an extended OPEC-led effort to balance the market suggests 2018 will be good for drilling services, Schlumberger’s head said Friday. Schlumberger is the world’s largest oilfield Continue Reading
Rig counts, but not jobs, up in Texas
Exploration and production in the Permian shale basin in Texas is contributing to more output, but not more jobs, data from a federal reserve bank said. The Federal Reserve Bank Continue Reading
U.S. Oil Output Expected to Surpass Saudi Arabia, Rivaling Russia for Top Spot
An offshore oil platform is seen in Huntington Beach, Calif. The International Energy Agency said in its monthly report that it expects U.S. oil production to overtake Saudi Arabia’s in Continue Reading
EIA expects total U.S. fossil fuel production to reach record levels in 2018 and 2019
In its January 2018 Short-Term Energy Outlook (STEO), EIA forecasts that total fossil fuels production in the United States will average almost 73 quadrillion British thermal units (Btu) in 2018, Continue Reading
Oil Rig Count Declines Amid Falling Prices
The number of active oil and gas rigs fell this week, according to Baker Hughes data , decreasing by 3 total rigs. This brings the total number of oil and Continue Reading
US government shutdown would stall oil and gas permitting
If the US Congress fails to pass a short-term spending bill and the federal government shuts down this week, oil and natural gas permitting in federal lands and waters is Continue Reading
Alaska oil producers focus on efficiencies, not $70 oil
The rebound in the price of crude oil in recent months that has helped producers will be temporary, and the industry must prepare for competition from energy sources elsewhere, the Continue Reading
The 2018 Detroit Auto Show: Are U.S. Carmakers Still Stuck in the Past?
WHEN ARNOLD Schwarzenegger stepped into the lights at the Michigan Theater Sunday night—the surprise guest at the unveiling of Mercedes-Benz’s redesigned G-Wagen SUV before the 2018 North American International Auto Show—it Continue Reading
Senior Interior Dept. Official Says Florida Still On Trump’s Draft Drilling Plan
A senior official from the Interior Department (DOI) said Florida was still under official consideration for offshore drilling, despite an announcement by Secretary Ryan Zinke last week stating that the state would Continue Reading
Only 1/3 Of Oil Patch Jobs To Return To Canada After Downturn Ends
Despite higher oil prices, only one-third of the Canadian oil patch jobs lost since 2015 are expected to return due to rapid technical innovation during the past three years of Continue Reading
Florida waters remain in Trump’s five-year oil, gas leasing plan, for now: BOEM
Federal waters off Florida’s coast remain in the Trump administration’s draft proposed offshore oil and gas leasing plan, the acting head of the agency that developed the plan said Friday. Continue Reading
Cheniere’s Sabine Pass terminal sees strong winter LNG exports
US LNG exports are stronger so far this winter compared with a year ago, thanks to global demand and two more production trains in use at Cheniere Energy’s Sabine Pass Continue Reading
Powder River Basin coal production up 7.2% in 2017: MSHA
Powder River Basin coal production totaled 334.4 million st in 2017, up 7.2% from 2016, according to recently posted US Mine Safety and Health Administration data. Production in 2016 declined Continue Reading
Forties on the rocks: how granite led to UK oil pipeline outage
The unplanned shutdown in December of Britain’s biggest oil pipeline, Forties, which shut off supplies for more than two weeks and fired up global oil prices, had an unlikely cause: Continue Reading
Don’t worry about oil price movement yet, Russia says
It’s too early in 2018 to discuss stabilization for oil prices, which are down 2 percent from their peak, but up 3.5 percent so far, a Russian official said. Crude Continue Reading
Oil Futures Pull Back Following Production Gains
Oil pump jacks are seen at dusk in the oil fields surrounding Midland, Texas. Oil futures fell 1% in Asian trading on Friday, extending a late-day selloff in the U.S. Continue Reading
Oil prices fall as U.S. output rise outweighs crude stock falls
Oil prices slid on Friday, putting them on course for the biggest weekly falls since October, as a bounce-back in U.S. production outweighed ongoing declines in crude inventories.Brent crude futures Continue Reading
Peak Oil Demand Is A Slow-Motion Train Wreck
The precise date at which oil demand hits a high point and then enters into decline has been the subject of much debate, and a topic that has attracted a Continue Reading
Global Clean Energy Investments Near All-Time High
Booming Chinese solar installations propelled annual worldwide investments in renewable energy and energy-smart technology 3 percent higher to $333.5 billion last year—the second-highest on record, a Bloomberg New Energy Finance Continue Reading
OPEC Revises Up Non-OPEC Production Estimates For 2018
U.S. shale suppliers are forcing OPEC to revise upward its estimates for supplies originating outside the bloc’s member nations, according to the latest data released by the bloc. Non-OPEC production Continue Reading
OPEC Oil Production Falls In December
The latest OPEC Monthly Oil Market Report is out with production numbers for December 2017. All data is in thousand barrels per day. (Click to enlarge) Total OPEC crude only Continue Reading
OPEC sees more oil supply from rivals, countering its cuts and Venezuelan woes
OPEC raised its forecast for oil supply from non-member countries in 2018 as higher prices encourage U.S. shale drillers to pump more, offsetting an OPEC-led deal to clear a supply Continue Reading
BP Returns to a Northern Iraq Now Free of Islamic State
BP PLC will return to northern Iraq for the first time since Islamic State swept through the region three years ago, potentially heralding a new era of stability in one Continue Reading
BP is back in Kirkuk
A memorandum of understanding promises to re-start BP’s reservoir studies, and could lead to a long-term development deal. Iraqi Oil Minister Jabbar al-Luiebi signs an MoU for BP to study Continue Reading
247 Demonstrations, 90 Cities, 14 Days: Iran’s Upheaval
This exclusive account of 14 days of unrest in Iran reveals at least 213 anti-government protests and 34 pro-regime rallies across 90 cities. The protests were fueled by working-class grievances, Continue Reading
Nigeria Passes Major Oil Reform Bill After 17 Year Struggle
Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in Continue Reading
Nigeria sues JP Morgan for $875 million over Malabu oilfield deal
Nigeria has filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company Continue Reading
Venezuela’s Oil Production Is Collapsing
Venezuela’s oil output is collapsing at an accelerating pace, deepening an economic and humanitarian crisis and increasing the chances the country will default on its debts. Crude production fell 11% Continue Reading
Venezuelan Output Drops To 28-Year Low In 2017
Venezuelan oil output dropped 13 percent in 2017, falling to a 28-year low, official figures released by the Organization of Petroleum Exporting Countries (OPEC) said on Thursday. The Latin American Continue Reading
IEA sees oil markets tightening as Venezuelan output collapses
Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017’s biggest unplanned output fall and could see a further decline in 2018, the International Energy Agency Continue Reading
Former Hub of Venezuela’s Oil Wealth Turns to Hunger and Rust
A broken oil platform in the lake. Photo: Fabiola Ferrero for The Wall Street Journal A broken oil platform in the lake. Photo: Fabiola Ferrero for The Wall Street Journal Continue Reading
The Biggest Oil Collapse In History
According OPEC’s secondary sources data — provided by independent groups — Venezuela’s oil production fell by another 82,000 barrels per day (bpd) in December, taking output down to 1.745 million Continue Reading
Argentina’s YPF finalizes deal with Statoil to develop Vaca Muerta
Argentina’s state-run energy company YPF said Thursday it has finalized a deal with Norway’s Statoil to jointly explore and develop a block targeting Vaca Muerta, the country’s largest shale play. Continue Reading
Six Chinese Ships Covertly Aided North Korea. The U.S. Was Watching
Satellite photographs and other intelligence gathered by U.S. officials provide what they say is detailed evidence of at least six Chinese-owned or -operated cargo ships violating United Nations sanctions against Continue Reading