Robo-Taxi Set For Arizona Rollout
Waymo, a unit of Alphabet, is set to launch a ride-sharing service similar to Uber, but with no human driver behind the wheel. Officials in Arizona granted Waymo a permit Continue Reading
U.S. Crude Exports Hit A Major Milestone
“There could not be a better time to offer this service as domestic production surpasses 10 million barrels per day in the ever-dynamic global crude oil market,” Tom Shaw, president Continue Reading
Fitch: EVs Growth Could Lead To Peak Oil Demand By 2030
Greater product awareness and technological changes could fast track the adoption of electric vehicles (EVs) that could plausibly lead to a peak oil demand before 2030, Fitch Ratings said on Continue Reading
America’s Emerging Petro Economy Flips the Impact of Oil
The effect of oil prices on the U.S. economy used to be straightforward: Higher was bad. Yet between 2014 and early 2016, as oil collapsed , growth slowed sharply. Since Continue Reading
Frac Sand Shortage Threatens Shale Boom
Halliburton said last week that its earnings could be negatively impacted because of bottlenecks related to the supply of frac sand used in shale drilling. The Wall Street Journal reported Continue Reading
Keystone XL Approval Receives Push-back From Environmentalists
Canadian activists have requested an American judge to subpoena the U.S. government for all files related to the Trump administration’s approval of the controversial Keystone XL pipeline, according to emerging Continue Reading
EIA USA Reserve Estimates
EIA reserve estimates for USA for 2016 have been issued (a couple of months later than usual). The numbers they provide are ‘proven’ reserves of crude, condensate and natural gas. Continue Reading
BP sees self-driving electric vehicles crimping oil demand by 2040
The emergence of self-driving electric cars and travel sharing are set to dent oil consumption by 2040, oil and gas giant BP ( BP.L ) said, forecasting a peak in Continue Reading
In the deepwater vs shale oil contest, Shell backs both
Royal Dutch Shell will expand deepwater output and turn a profit from its shale production in coming years as both together will help the oil major cope with a world Continue Reading
Platts: Norwegian oil field too big to ignore for possible Brent update
Once production starts from the Johan Sverdrup oil field in the North Sea, it could be a component of the basket of oils that make up Brent, Platts reported. Norwegian Continue Reading
Russia mulls LNG option for Pakistan
Russia could help improve energy security for Pakistan through the delivery of liquefied natural gas, the Russian foreign minister said Tuesday. Russian Foreign Minister Sergei Lavrov spoke Tuesday with his Continue Reading
BP: Oil Demand Is Going to Peak in the Next 20 Years
Global demand for crude oil could peak in the next two decades, as renewables like solar power surge faster than expected to meet a greater share of the world’s energy Continue Reading
BP says oil demand to peak by late 2030s
Self-driving electric vehicles will cause a revolution in transportation over the next two decades, leading global oil demand to peak by the late 2030s, according to the main scenario outlined Continue Reading
Brent crude sags, while lower Canadian supply boosts U.S. futures
Brent crude oil prices fell on Tuesday, pulled down by a stronger dollar and a bout of profit-taking, while U.S. futures gained, bringing the discount between the two key futures Continue Reading
Oil industry’s swagger takes knock from gas boom
The oil executives who control the world’s most traded commodity are usually the big draw at the annual International Petroleum Week conference. But this week, it could be the leaders Continue Reading
Middle East tensions lend risk premium to the price of oil
Middle East tensions, pitting Israel against Iran, added a geopolitical risk premium to the price of oil in a Monday session thinned by a U.S. federal holiday. Speaking at a Continue Reading
Kashagan oil field inching toward design capacity
It could take the rest of the year for the Kashagan oil field in the Kazakh waters of the Caspian Sea to reach its full design capacity, the operator said. Continue Reading
Noble Energy, Israel’s Delek to Supply Gas to Egypt in $15 Billion Deal
Investors in Israel’s natural-gas fields agreed to supply an Egyptian company with gas valued at $15 billion, a deal that will build on growing ties between once-hostile neighbors that now Continue Reading
Saudi Arabia Wants $70 Oil
As the global oil inventory surplus narrows and the goal of the OPEC cuts is within reach, the oil cartel is mulling a change in the way it defines success, Continue Reading
Iraqi Oil Minister To Discuss Ceyhan Exports In Turkey
Iraqi oil minister Jabbar al-Luiebi is set to visit Turkey this week to discuss the future of the Ceyhan-Kirkuk oil pipeline, a statement from the Iraqi oil minister said on Continue Reading
Is Nigeria Breaking Its Promise To OPEC?
As OPEC allies push to restrict oil output in an international attempt to bolster crude prices, Nigerian producers are heading in the opposite direction, aspiring to increase output by 250,000 Continue Reading
Nigeria: New Threat As U.S., Others Set to Abandon Nigeria’s Oil
There are indications that the United States and other nations will soon abandon Nigeria’s oil, which may negatively affect the nation’s revenue generation. According to the Energy Information Administration (EIA), Continue Reading
Mexico becomes first Latin American country to join the IEA
By entering the “most important energy forum in the world,” Mexico is the newest, and first Latin American, country to join the IEA, its government announced. Mexico deposited its signature Continue Reading
Vista Oil & Gas seals $700m Argentina deal
Six months after bursting on to the Mexican stock market with the third-biggest initial public offering since 2015 and the promise to become a Latin American energy champion, Vista Oil Continue Reading
India Will Lead Global Oil Demand By 2035
Oil market participants and analysts have been closely watching the record level of supply coming out of the United States that is threatening to undo OPEC’s production cuts. But in Continue Reading
Canada’s Oil Crisis Continues To Worsen
Canadian oil producers can’t get a break. First it was the pipelines — there are not enough of them to carry the crude from Alberta’s oil sands to export markets. Continue Reading
Louisiana Port Starts U.S. Crude Oil Exports On Supertankers
The Louisiana Offshore Oil Port (LOOP) said on Sunday that it had successfully loaded the first Very Large Crude Carrier (VLCC) with U.S. oil bound for export in what could Continue Reading
The Militarization of U.S. Energy Policy: Donald Trump Enlists Fossil Fuels in the Struggle for Global Dominance
As the recently published National Security Strategy shows, Donald Trump has turned the expansion of the U.S. fossil fuel industry and its exports into a major component of American foreign Continue Reading
Refiner goes belly-up after big payouts to Carlyle Group
Throughout 2016 and 2017, a rail terminal built to accept crude oil for the largest East Coast refinery often sat idle, with few trains showing up to unload. Although little Continue Reading
U.S. Oil Exports Go Up a Gear as Supertanker Sets Sail for China
Saudi-flagged tanker loads oil in Louisiana and heads to Asia U.S. crude exporting previously made using smaller tankers The flood of U.S. oil exports stepped up a gear on Monday Continue Reading
How a U.S. coal deal warmed Ukraine’s ties with Trump
For the first time in Ukraine’s history, U.S. anthracite is helping to keep the lights on and the heating going this winter following a deal that has also helped to Continue Reading
New wind farm construction starts in Italy
German energy company E.ON starts construction on its eleventh wind farm in Italy. Photo courtesy of E.ON Feb. 19 (UPI) — In what would be its eleventh such project to Continue Reading
Is The Yamal LNG Project Overhyped?
In December 2017, Novatek launched its much-praised Yamal LNG in the Arctic Circle. Despite difficult permafrost conditions and financial limitations imposed by U.S. sanctions, Yamal LNG was finished on time Continue Reading
Oil hits highest in nearly two weeks on Asian equity recovery
Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and as worries grew Continue Reading
Riding the Wave The Dated Brent benchmark at 30 years old and beyond
Global crude markets are changing at an unprecedented pace. Across all key oil-producing regions, markets look vastly different today than they did even three years ago, and it has become Continue Reading
OPEC And Shale Keep Oil Prices Between $60-$75
The interaction between U.S. shale and OPEC will continue to be the dominant narrative in the oil market this year, and the opposing forces could end up trapping oil prices Continue Reading
Saudi Arabia Is Taking a Harder Line on Oil Prices
Al-Falih says cuts should continue even if there’s a shortage Kingdom needs higher prices to implement economic reforms: RBC For decades, Saudi Arabia was the voice of moderation within OPEC, Continue Reading
Will China Repeat Last Year’s LNG Import Surge?
Ever since China overtook South Korea as the world’s second-largest importer of LNG last year, traders have been keeping a very close eye on any development that might suggest whether Continue Reading
Hezbollah Leader Threatens “We Will Open Fire” On Disputed Israeli Offshore Oil & Gas Operations
During a televised address in Beirut on Friday Hezbollah Secretary General Sayyed Hassan Nasrallah once again warned Israel to back off its claims over disputed oil and gas field just Continue Reading
Nigeria May Get Refund From Foreign Firms Over $16 Billion Egina Probe
Senate ad hoc committee investigating the $16 billion Egina Deep Sea Project has disclosed that the participating foreign firms in the contract would refund billions of dollars to the Federal Continue Reading
Offshore Oil Is Poised For Significant Growth
Following three painful years of portfolio repositioning, cost cuts, and deferred projects, the offshore oil and gas industry is now more prepared to deliver projects and profits at lower costs Continue Reading
Is This The Answer To The Lithium Shortage?
University of Texas at Austin and Monash University researchers have recently discovered a new, efficient way to extract lithium and other metals and minerals from water. With continual technological advancements Continue Reading
How To Avoid Blackouts Using 100% Renewable Energy
The inconsistencies of power produced by wind, water, and sunlight and the continuously fluctuating demand for energy often hinder renewable energy solutions. In a new paper, which appears in Renewable Continue Reading
Oil Closes at One-Week High
Oil prices closed at a one-week high on Friday, recouping losses as optimism over the crude market rebalancing outweighed concerns about shale production. Light, sweet crude for March delivery rose Continue Reading
Oil gains in weekly recovery on equities rebound, weak dollar
NEW YORK (Reuters) – Oil prices edged up on Friday as a rebound in the global equities market and a weak dollar supported crude’s recovery from last week’s slide. Global Continue Reading
Oil futures settle higher on equities strength
Oil futures settled higher Friday, lifted by the resurgence of equities and pressure on the US dollar against other major currencies. NYMEX March crude settled 34 cents higher at $61.68/b. Continue Reading
Is This The Future For OPEC?
OPEC and Russia, along with other countries participating in the oil production cuts aimed at balancing the market, are looking to create a “super group of oil producing countries,” according Continue Reading
Explaining Saudi Arabia’s Oil Export Strategy
Saudi Arabia continues to keep the market informed about its stance on the OPEC production cut deal, with Khalid al-Falih’s latest guidance that Saudi would prefer to overtighten the market Continue Reading
Iran Ready To Share Its Oil, Gas Resources With India
“Iran is rich in oil and natural gas resources. It is ready to share the natural resources with India for its development and progress,” Indian media quoted Rouhani as saying Continue Reading
Nigeria Buys 100 Million Liters Of Gasoline To Quell Fuel Shortage
Bloomberg . The “dire” shortage, which has reached “force majeure” proportions, requires 625,000 barrels per day of gasoline imports daily to be quelled, Ndu Ughamadu, a spokesman for the Nigeria Continue Reading