Nigeria’s crude oil production, including condensate hit 2.057 million barrels per day (bpd) in the month of December 2017. This is higher than the 1.93 million bpd including condensate recorded Continue Reading
French energy company Total said it’s now a premier player in the oil basins off the coast of Brazil after finalizing a partnership with a state energy company. Total and Continue Reading
Colombia’s Transandino pipeline stopped operating on Sunday after a bomb planted by ELN rebels caused a crude spill into a nearby river, according to a joint announcement by Ecopetrol and Continue Reading
Venezuela’s oil production has increased to near 1.9 million barrels per day after hitting a historic low last year, according to Manuel Quevedo, oil minister and head of state oil Continue Reading
China exported a record volume of refined oil products in December, but the oil price rally has been driving refining margins down in recent weeks. These falling margins mean January’s Continue Reading
It generally takes five times as many coal mining and power plant workers to generate a megawatt hour of electricity as wind-farm operators, according to BW Research Partnership, an economic Continue Reading
Shale drillers are scrambling to take advantage of the recent surge in oil prices, but the cost of production could begin to creep up, offsetting some of the promised gains. Continue Reading
A recent Rigzone survey reveals the outlook of North America respondents. Rigzone recently released results from its global survey exploring the oil and gas industry outlook for 2018 and almost Continue Reading
Company expects $1.7 billion charge in fourth-quarter results Payments from deadly accident now seen at $3 billion for 2018 BP Plc raised the amount it will pay this year for Continue Reading
Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day – toppling a record set in 1970 and crossing a threshold few Continue Reading
Global automakers on Monday urged the Trump administration not to terminate the North American Free Trade Agreement and expressed hope the United States, Canada and Mexico can successfully conclude a Continue Reading
Royal Dutch Shell gave the green light on Monday for an expansion of the Penguins oil and gas field in the UK North Sea, its first major new project in Continue Reading
Tearing down the infrastructure from aging North Sea oil and gas fields could generate a stream of revenue for the industry as a whole, a consultant group said. Royal Dutch Continue Reading
Just over a year ago we noted that, after being forced to withdraw at least $15 billion to fund 2017 budget deficits, the $860 billion Norwegian sovereign wealth fund announced Continue Reading
Higher wind generation and lower demand drove UK power system prices into negative territory over the weekend, according to traders and National Grid data. The daily minimum system sell price Continue Reading
Oil hovered below a three-year high near $70 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies, but analysts warned of “red flags” Continue Reading
OPEC-led production cuts contribute to market stability: Iraq U.S. drillers boost rig count by most in more than six months Oil traded near the highest close in more than three Continue Reading
Oil prices took a breather in early trading on Friday, raising questions over what will happen next. Can the rally continue, pushing Brent well into the $70s? Or will prices Continue Reading
Brent crude rose to a three-year high of $70 a barrel last week, but there are questions about the rally’s resilience as higher oil prices threaten to unleash a new Continue Reading
Gail Tverberg is a writer and speaker about energy issues. She is especially known for her work with financial issues associated with peak oil. Prior… Today, we have a surplus Continue Reading
An Iranian oil tanker has sunk after burning for more than a week following a collision on Jan. 6 in the East China Sea, Chinese state media said on Sunday, Continue Reading
Saudi Arabia’s billionaire Prince Alwaleed bin Talal, detained for over two months in an anti-corruption crackdown, is negotiating a possible settlement with authorities but so far has not agreed on Continue Reading
Iran said on Saturday it would retaliate against new sanctions imposed by the United States after President Donald Trump set an ultimatum to fix “disastrous flaws” in a deal curbing Continue Reading
Saudi Arabia plans to prequalify for bidding firms from two or three countries by April or May for the first nuclear reactors it wants to build, a consultant for the Continue Reading
There seems to be no end in sight in the lingering scarcity of petrol in Kaduna state especially in the state capital, as many filling stations hoard their products in Continue Reading
I was interviewing participants at a 2003 antigovernment protest in Caracas, Venezuela when a woman approached me and put a United States-Venezuela crossed-flag “friendship pin” on my lapel. She then Continue Reading
Venezuela’s oil production has increased to near 1.9 million barrels per day (bpd) after hitting a historic low last year, according to Manuel Quevedo, oil minister and head of state Continue Reading
Venezuela is looking to tourism to boost its wrecked economy, but the empty beach in the resort town of Todasana last month underscores how the number of foreign visitors has Continue Reading
One year ago, China’s capital city was in the grip of suffocating and potentially fatal smog that made life a misery and breathing downright dangerous. This month, the air in Continue Reading
Sanchi oil spill covers 4 square miles and is still burning Authorities collecting data from spill area to assess impact The oil tanker on fire after a collision on Jan. Continue Reading
Autonomous vehicles are in danger of being turned into “weapons”, leading governments around the world to block cars operated by foreign companies, the head of Baidu’s self-driving car programme has Continue Reading
China said on Friday it plans to create several “super-large” coal mining companies by the end of 2020 as the world’s biggest producer of the fuel ramps up years of Continue Reading
China is inching closer to launching its first crude oil futures contract but it will happen only after the Lunar New Year holiday which ends on February 23, a government Continue Reading
A Tesla charging station in Mountain View, Calif. The company’s chief executive, Elon Musk, has sharply criticized the government’s restriction on the electric vehicle tax credit, which begins to phase Continue Reading
Futuristic images of cars were splashed across the Consumer Electronics Show this week, as the world’s largest tech gathering ogled the concept cars of the coming driverless era. But there Continue Reading
As a fraction of our energy mix, renewables in general and solar power, in particular, are growing faster than ever. What seemed like an impossibility just a decade ago—the displacement Continue Reading
Two weeks ago, President Donald Trump greeted the cold snap that was gripping much of the U.S. by tweeting, “Perhaps we could use a little bit of that good old Continue Reading
A top Ford Motor Co. F 0.53% executive said the company will now spend $11 billion on electrified vehicles through 2022, increasing its previous estimates as it races to catch Continue Reading
Automaker swapped CEOs last year after falling behind Tesla Mach 1 SUV among 16 battery-electric vehicles planned by 2022 Ford Motor Co. will more than double spending on electrified vehicles, Continue Reading
Meanwhile, Romania, long in the shadow of European majors despite being the EU’s third-largest gas producer, is poised to step up the game and ramp up its gas output as Continue Reading
Oil producers may be enjoying oil prices at $65 to $70, but these price levels are likely to encourage even more oversupply from U.S. shale, Fatih Birol, the Executive Director Continue Reading
Oil prices rose for a sixth day on Friday after Russia’s oil minister said that global crude supplies were “not balanced yet,” alleviating market concerns about a wind-down of the Continue Reading
WTI up 4.7% this week even as U.S. oil rig count rises by 10 Brent, WTI closed with biggest weekly gains since October Crude ended the week with a gain Continue Reading
Oil prices hit $70 per barrel for the first time in more than three years on Thursday. The last time Brent traded that high, prices were falling off a cliff Continue Reading
Oil prices have risen above $70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year. But some Continue Reading
The number of active oil and gas rigs rose this week, according to Baker Hughes data , increasing by 15 total rigs, bringing the total rigs to 939, which is Continue Reading
Alexander Novak . Reuters reports that Novak might discuss the country’s potential exit from the pact in Oman next week. Russia had vowed to cut output by 300,000 barrels per Continue Reading
Iraqi Oil Minister Jabar al-Luaibi said on Saturday that the OPEC member’s oil output capacity is near reaching 5 million barrels per day, but the country will remain in full Continue Reading
A heavy explosion at the Nigeria Gas Company pipeline, which crosses the Ugbokodo community near the Warri Refinery, caused chaos in the area, according to emerging reports . The explosion Continue Reading
Kenya has decided to allocate 20 percent of future oil revenues to the communities where crude oil has been discovered, cutting the share from an initial proposal to give local Continue Reading
