China’s Gas Production Hits Three-Year High
China pumped natural gas at the highest rate since 2014 in December 2017 in an attempt to make up for shortages of the fuel in the northern parts of the Continue Reading
China’s major coal province to cut 23 million tonnes of capacity in 20
China’s Shanxi province, responsible for about a quarter of the country’s total coal output, will cut its production capacity by 23 million tonnes this year as part of its efforts Continue Reading
Oil little changed after record crude draw at U.S. hub
Oil was little changed on Thursday, as prices eased early in the session, but were supported by a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub. Continue Reading
U.S. crude stocks drop, led by record outflow from Cushing hub: EIA
U.S. crude oil stocks fell for a ninth straight week, led by a record drawdown at the U.S. storage hub in Cushing, Oklahoma, the Energy Information Administration said on Thursday. Continue Reading
TransCanada says Keystone XL interest strong enough to proceed
Pipeline company TransCanada said Thursday that commercial commitments for about 60 percent of the capacity for its Keystone XL pipeline is enough to proceed. The company said it concluded the Continue Reading
BHP Billiton continues U.S. shale exit plans
Australian energy and mining giant BHP Billiton said Thursday it was on pace start selling off its U.S. shale assets during the first quarter of the year. In August, CEO Continue Reading
Florida Democrat plays hardball on Trump’s offshore drilling plan
A Florida senator at the heart of the pushback on President Trump’s offshore drilling plans said he was blocking federal appointments in a move for clarity. U.S. Sen. Bill Nelson, Continue Reading
Keystone XL Pipeline Obtains Enough Shipper Commitments to Proceed
TransCanada still needs easements from landowners in the state and must secure water-crossing permits from the U.S. Army Corps of Engineers. TORONTO— TransCanada Corp. TRP 0.25% said on Thursday it Continue Reading
Summary of Weekly Petroleum Data for the Week Ending January 12, 2018
U.S. crude oil refinery inputs averaged 16.9 million barrels per day during the week ending January 12, 2018, 448,000 barrels per day less than the previous week’s average. Refineries operated Continue Reading
API’s Jack Gerard to Step Down
After serving for 10 years as president and CEO of the API, Jack Gerard is calling it quits. Jack Gerard will step down as president and CEO of the American Continue Reading
IEA Sees ‘Explosive’ Growth in U.S. Oil Output As Prices Rally
Gains in U.S., Canada will outweigh steep drop in Venezuela Venezuela had biggest unplanned production decline in 2017 U.S. oil output is set for “explosive” growth this year as prices Continue Reading
U.S. Oil Output Expected to Surpass Saudi Arabia, Rivaling Russia for Top Spot
Surging U.S. crude oil production this year is expected to surpass output in Saudi Arabia and rival that of Russia, the world’s two largest oil producers, the International Energy Agency Continue Reading
‘Returning to heady days’: IEA raises US oil growth forecasts
The International Energy Agency revised higher its US oil production growth forecasts for 2018, stressing that rapidly expanding shale output is a major factor offsetting Opec-led supply cuts. The latest Continue Reading
2017 Was One of the Hottest Years on Record. And That Was Without El Niño.
The world in 2017 saw some of the highest average surface temperatures ever recorded, surprising scientists who had expected sharper retreat from recent record years. Scientists at NASA on Thursday Continue Reading
New Navigant Leaderboard puts GM and Waymo at the head of the autonomous driving technology pack, Tesla last
Navigant Research has issued a new iteration of its Leaderboard Report on Autonomous Driving (AD), reflecting the new partnerships, strategic investments and acquisitions made since the early version less than Continue Reading
The planet just had its hottest 4 years in recorded history. Trump is dismantling efforts to fight climate change.
2017 was among the hottest years ever recorded, government scientists reported Thursday. The year was the second-hottest in recorded history, NASA said, while scientists from the National Oceanic and Atmospheric Continue Reading
ISO-New England: Maintaining reliability will become challenging as gas dependence rises
A new report from the ISO New England concludes the region’s dependence on natural gas could create serious problems in the event of a fuel shortage; as more gas-fired power Continue Reading
$70 Oil Cripples European Refiners
In the latest indication of the strength of the recovery of global oil prices, European refineries are struggling to pay their crude bills as margins decline and demand weakens for Continue Reading
Shell, ITM Power to build world’s largest hydrogen electrolysis plant in Germany; €20M REFHYNE project
Shell and ITM Power will build the world’s largest hydrogen electrolysis plant at Rhineland refinery, Germany. With a peak capacity of 10 megawatts, the hydrogen will be used for the Continue Reading
Oil holds near 2014 high, supported by threat of Nigeria attack
Oil held steady above $69 a barrel on Thursday, supported by falling inventories of crude and threats of an attack on Nigeria’s petroleum industry, although a reported rise in U.S. Continue Reading
OPEC Discipline Arrests Crude Oil’s Fall From Three-Year High
Compliance to OPEC’s output-cut deal at 125% in December WTI gains while gasoline futures at highest since August Crude edged higher as OPEC showed increased determination to curb production and Continue Reading
Oil rises ahead of U.S. weekly inventory figures
Oil prices ended higher on Wednesday ahead of the release of U.S. petroleum data that was expected to show a ninth straight weekly drawdown in crude inventories. Brent futures LCOc1 Continue Reading
With a risk premium for oil, the World Economic Forum worried by war
With this year opening with a geopolitical risk premium for oil prices, a survey from the World Economic Forum said those frictions were a growing concern. The WEF, in its Continue Reading
Are Hedge Funds Pushing Oil Prices Too High?
Hedge funds and other money managers continue to gobble up bullish bets on oil futures, but the speed with which spot prices have risen in the past few weeks raises Continue Reading
Iraq pushes electricity reform, prompting protests
Iraq’s 2018 budget is delayed – tangled in political arguments over funding for post-war reconstruction, the development of Basra province, and revenue-sharing with Kurdistan. Yet the country would have enough Continue Reading
Iraq Is Troubling The Oil Majors
The oil majors are heading in opposite directions when it comes to investing in oil in the war-torn country, a sign of how differently they view the relative risk. Chevron Continue Reading
Iraq, BP to sign deal to boost Kirkuk oil production capacity
Iraq aims to sign a deal with BP on Thursday to boost production capacity from the northern Kirkuk oilfields, which were taken back in October by Iraqi government forces, an Continue Reading
Troubled Waters: Egypt and Ethiopia Wrangle Over Nile Dam
The world’s longest river, a lifeline for hundreds of millions of people, is also fast becoming a fault line. Ethiopia’s ambitious $4.2 billion hydroelectric dam project on the Nile River’s Continue Reading
We’re targeting an FPSO offshore Nigeria, militant group warns
The Niger Delta Avengers, a sporadic militant group in Nigeria, said Wednesday its next round of attacks targeting deep water operations will be bloody. Nigeria is a member of the Continue Reading
Exxon Mobil signs deal for deepwater oil exploration off Ghana
Exxon Mobil Corp signed a deal with Ghana on Thursday to explore for oil in the Deepwater Cape Three Point offshore (DWCTP) oilfield. The signing followed direct negotiations between Ghana Continue Reading
Isolated Looting Continues in Venezuela, Oil Workers Criticise Deteriorating Situation
The aftermath at a looted government food store in Guarico Saturday. (Aporrea) Bogota, January 16 2018 ( venezuelanalysis.com ) – Isolated incidents of looting broke out in several Venezuelan states Continue Reading
U.S. oil production sets new record, setting stage for what Trump calls ‘global dominance’
Funny thing about our president and the whole “so much winning” thing. We may very well be doing all the winning he promised, but it won’t seem like it to Continue Reading
Colombia’s Crude Exports Fall Amid Unrest
Crude exports out of Colombia in recent years have averaged just over 600,000 barrels per day, with exports typically highest in January, before gradually descending through the year. To start Continue Reading
Maduro’s Advisors Recommend Selling Petro At Steep 60% Discount
By mid-February, 38.4 million Petros could go on sale, raising $2.3 billion for the cash-starved government, VIBE, a new governmental advisory group, said. This is a large departure from the Continue Reading
Crude imports to increase 7.7%
A CNPC employee switches on an oil transportation valve at a facility in Tangshan, Hebei province. (Photo/China Daily) Imports are expected to make up more than 70 percent of China’s Continue Reading
China plug-in electric vehicle sales in 2017: almost four times those in the U.S.
Compared to previous years, overall car-sales growth in the U.S. has all but plateaued at around 17.5 million. China is doing little better, with growth reaching just 3 percent for Continue Reading
U.S. losing renewable race to China, but winning in oil
The United States is losing the renewable energy race to China but will be the undisputed leader for oil and gas in the coming years, the head of the IEA Continue Reading
Shady triangle: Southeast Asia’s illegal fuel market
An alleged oil heist in Singapore that has already led to 20 arrests, the seizure of at least one tanker and allegations that thieves siphoned thousands of tonnes of fuel Continue Reading
China’s economy grows 6.9% in 2017 on strong exports and property
China’s economy grew at 6.9 percent in 2017, the fastest pace in two years, despite policymakers making headway towards curbing financial risk from excessive debt. The country’s 6.8 percent growth Continue Reading
As Petro-Yuan Looms, Bundesbank Adds Renminbi To Currency Reserves
Just days after China’s (denied) threat to slow/stop buying US Treasuries , and just days before the launch of China’s petro-yuan futures contract , Germany’s central bank confirmed it would Continue Reading
U.S. oil industry about to smash through a record few thought possible, and the impact is breathtaking
The U.S. government forecasts that the nation’s production will climb to 11 million barrels a day by late 2019, a level that would rival Russia, the world’s top producer. Surging Continue Reading
U.S. Gulf Coast refineries restart after unusual cold snap
Several major U.S. Gulf Coast refineries were restarting operations on Wednesday as temperatures warmed following record lows across the region overnight, freezing instrumentation and snapping power lines, according to refining Continue Reading
Cheap gasoline in the winter isn’t likely in 2018
Demand strains and a steady surge higher for oil prices means a typical winter of lower U.S. retail gasoline prices isn’t in store this year, analyses show. Motor club AAA Continue Reading
Pipeline Builders Try New Growth Strategy: Bigger Pipes
An effort by Energy Transfer Partners LP to expand its Mariner East 2 pipeline ran into local resistance, and Pennsylvania authorities halted construction earlier this month. Some of North America’s Continue Reading
Unexpected Phenomenon Observed In Lithium-Ion Batteries
Brookhaven National Laboratory scientists have observed an unexpected phenomenon in lithium-ion batteries – the most common type of battery used to power cell phones and electric cars. As a model Continue Reading
API Reports Seventh Large Crude Draw In Seven Weeks
The American Petroleum Institute (API) reported a large draw of 5.121 million barrels of United States crude oil inventories for the week ending January 12, marking seven large draws in Continue Reading
EIA: Shale Oil Output To Rise By 1.8 Million Bpd Through Q1 2019
American crude oil output is set to rise by 1.8 million barrels per day from the nation’s largest shale producing areas over the next year, according to new forecasts by Continue Reading
IEA: Don’t Expect Much Oil From Arctic National Wildlife Refuge Before 2030
Despite the fact that part of the Arctic National Wildlife Refuge (ANWR) has been declared open to drilling, low oil prices and abundance of onshore shale deposits makes the Arctic Continue Reading
Trump’s Offshore Oil Plan Will Struggle to Lure Rigs From Guyana
A string of major discoveries offshore Guyana has drawn hundreds of millions of dollars in a quest for crude. (Bloomberg) — The world’s hottest offshore prospect for oil companies is Continue Reading
Gasoline in the US Still a Good Deal
Average gasoline price in US is still low compared to other OECD countries. Although it doesn’t expect gasoline prices to set any records in 2018, GasBuddy predicts that the U.S. Continue Reading