Why Natural Gas Prices Will Rise This Summer
The gas market saw a jolt at the end of December and in early January due to extremely cold temperatures across much of the U.S. This winter was about 13 Continue Reading
Can Israel Compete In The Natural Gas Race?
Israel is a nation that has built its economy on downstream industries, being traditionally bare of natural resources and primary materials. Now, thanks to offshore discoveries of massive natural gas Continue Reading
Saudi Crown Prince Looks To Build The Largest Oil Cartel In History
OPEC and Russia are looking to solidify their cooperation on crude oil production for another decade or two, Saudi Crown Prince Mohammed bin Salman told Reuters in an interview while Continue Reading
Softbank to Build World’s Biggest Solar Park in Saudi Arabia
Venture may cost $200 billion, add 100,000 jobs in the kingdom Plan envisions 200GW of solar capacity in Saudi Arabia by 2030 Saudi Arabia and SoftBank Group Corp. signed a Continue Reading
Saudis, SoftBank Group Announce World’s Largest Solar Power Project
Saudi Arabia’s sovereign-wealth fund and Japan’s SoftBank GroupCorp. 9984 -3.75% announced plans to launch the world’s biggest solar-power-generation project, providing another ambitious goal for two of the world’s richest investors. The development would start Continue Reading
Nigeria: Adeosun Calls Crucial Meetings As Low NNPC Revenue Stalls Allocation to States, Others
Representatives of the 36 states and the Federal Capital Territory, Abuja returned home on Tuesday disappointed as the Federation Accounts Allocation Committee (FAAC) meeting ended in confusion in Abuja amid Continue Reading
Nigeria: ‘Independent Oil Producers Record 100% Increase in Crude Output’
Crude oil output from independent and sole risks producers have increased by over 100 per cent from 2.388 million barrels recorded in May 2017 to 7.487 million barrels in June, Continue Reading
India’s Reliance Sells Texas Shale Assets For $100MM
Reliance Industries Ltd said on Tuesday its unit would sell some of its shale assets in the United States to privately held Sundance Energy Inc for $100 million, as the Continue Reading
Exclusive: OPEC, Russia consider 10- to 20-year oil alliance – Saudi Crown Prince
Saudi Arabia and Russia are working on a historic long-term pact that could extend controls over world crude supplies by major exporters for many years. Saudi Arabia’s Crown Prince Mohammed Continue Reading
Thousands of Jobs At Risk As Nigerian Oil Industry Crumbles
Thousands of oil workers in Nigeria may lose their jobs after a wave of picketing against several service companies from the industry from members of the Petroleum and Natural Gas Continue Reading
Argentina’s Tierra del Fuego launches onshore E&P round, preps offshore tender
Tierra del Fuego, the southernmost province of Argentina, launched an exploration licensing round Tuesday for two onshore blocks and announced plans for an offshore tender later this year, as it Continue Reading
Russian Arctic natural gas comes to India
It was the first ever shipload of Russian Arctic LNG to India. And more is to come. According to Lev Feodosev , Deputy Chairman of Novatek’s Management Board, the Asian Continue Reading
Shell files criminal complaint against ex-employee over Nigeria oilfield sale
Royal Dutch Shell has filed a criminal complaint with Dutch authorities against a former employee over the sale of a Nigerian onshore oilfield in 2011, a Shell spokesman said on Continue Reading
The Energy Giant Taking Over Kurdistan
After the steady buildup of a burgeoning strategic partnership between the Russian national oil company and Kurdistan’s Regional Government (KRG), the year 2018 threw cold water on the ambitious plans Continue Reading
Argentina moving to develop tight shale oil and gas, speakers say
With the largest shale gas resources and tight oil deposits second only to those of the US in the Western Hemisphere, Argentina is trying to attract more foreign investments by Continue Reading
Mexico takes aim at its section of the Eagle Ford shale
The state energy company in Mexico said it signed on with a partner to help extract natural gas from the Eagle Ford shale reservoir in the country. Petróleos Mexicanos, known Continue Reading
Shanghai Oil Futures Off To Robust Start On 2nd Day
Shanghai crude oil futures got off to another strong start in their second day of trading on Tuesday, with more than 16 million barrels of crude changing hands, extending the Continue Reading
Canadian railways in a catch-22 over crude shipment
Canadian railway operators see a lucrative opportunity to transport more crude oil to the United States as a rise in output force producers to find new routes to its southern Continue Reading
U.S. on pace to become a leader in LNG exports
The United States is on pace to become the third-largest exporter of liquefied natural gas by 2020, behind Australia and Qatar, a federal report found. The U.S. Energy Information Administration Continue Reading
Slight dip in Canadian oil exports no detriment to growth, officials say
A Canadian energy regulator reported a slight drop in crude oil exports, although the country’s central bank said all signs point to growth for 2018. The National Energy Board reported Continue Reading
U.S. liquefied natural gas exports quadrupled in 2017
U.S. exports of liquefied natural gas (LNG) reached 1.94 billion cubic feet per day (Bcf/d) in 2017, up from 0.5 Bcf/d in 2016. As LNG exports increased, shipments went to Continue Reading
Permian Drillers Prepare For Double-Digit Cost Jump
U.S. shale companies expect a double-digit cost increase in services across the oil patch, and the Permian in particular, as the industry recovered from the downturn and is now growing Continue Reading
Offshore Oil Closes In On Shale
Offshore crude oil extraction, including deepwater, is closing in on shale in terms of cost thanks to new production technologies, a senior Chevron executive said at an industry event, as Continue Reading
US sells 7 million barrels of crude to at least five companies
The US Department of Energy has sold 7 million barrels of sweet, government-owned crude oil to at least five different companies, according to market sources. The oil, which was sold Continue Reading
EPA deal with Philadelphia refiner would erase 2% of 2018 biofuel mandate: consultant
A deal to wipe out refiner Philadelphia Energy Solution’s biofuel credit debt would effectively shrink the 2018 US biofuel mandate by 2%, which would cut renewable fuel demand and weaken Continue Reading
For Some Wounded US Drillers, the Oil Rout Never Ended
More than a year after exiting bankruptcy, SandRidge Energy Inc. is stuck in stock-market purgatory. The oil and gas explorer has seen its stock sink 37 percent since October 2016, Continue Reading
Waymo Orders Up to 20,000 Jaguar SUVs for Driverless Fleet
As Uber Technologies Inc. reels from a fatal crash involving one of its autonomous vehicles, rival Waymo is moving ahead, buying as many as 20,000 Jaguar vehicles for its robot Continue Reading
NVIDIA introduces DRIVE Constellation simulation system for testing autonomous vehicles in the cloud
NVIDIA has introduced a cloud-based system for testing autonomous vehicles using photorealistic simulation, creating a safer, more scalable method for bringing self-driving cars to the roads. NVIDIA DRIVE Constellation is Continue Reading
In a first, EU to review emissions to heavy-duty vehicles
In a first for the bloc, the European Parliament made a provisional agreement to monitor emissions and fuel consumption from heavy-duty vehicles. The European body said it would work on Continue Reading
EU lawyers give cautious backing to bid to regulate Russian pipeline
EU lawyers gave cautious support this week to a proposal by the bloc’s executive to extend its energy market rules to regulate offshore pipelines including Russia’s planned 9.5-billion euro gas Continue Reading
Europe Cracks Down On Diesel Vehicles
Diesel-powered passenger vehicle sales are declining in Europe as governments put more pressure on automakers to cut production and sales in the post-Volkswagen diesel emissions cheating scandal landscape. Diesel passenger Continue Reading
Germany Approves Russia-Led Nord Stream 2 Gas Pipeline
Germany approved on Tuesday the construction and operation of the Russia-led Nord Stream 2 gas pipeline in its territorial waters, thus issuing all necessary permits for the German section of Continue Reading
Oil firm on Middle East tension, though rising U.S. output looms
Oil prices were firm on Tuesday, supported by concerns that tensions in the Middle East could lead to supply disruptions, although further rises expected in U.S. crude output loomed over Continue Reading
Oil Holds on to Risk-Driven Gains
Oil prices fell Monday after data showed that stockpiles rose at a key U.S. storage hub, but largely sustained robust gains from last week that have been driven by escalating Continue Reading
Oil’s Seven Sisters Enter a ‘Golden Age’, Goldman Sachs Says
Big Oil’s weight in equity indices to rise from 50-year low Cost cuts, recovering oil prices put companies in a sweet spot The world’s largest oil companies have survived a Continue Reading
This Day In Market History: OPEC Raises Crude Oil Prices By 9%
This Day In Market History, March 26: OPEC Raises Crude Oil Prices By 9% Each day, Benzinga takes a look back at a notable market-related moment that occurred on this Continue Reading
Saudi Aramco ready for IPO in second half of 2018: CEO
Saudi Aramco will be ready for an initial public offering in the second half of 2018 and the work is ongoing, Amin Nasser, the chief executive officer of the state Continue Reading
Israeli gas field development proceeds quickly
French energy services company TechnipFMC secures contract for work offshore Israel less than a week after a developer made a final investment decision. Photo courtesy of TechnipFMC March 26 (UPI) Continue Reading
Who Really Loses If The U.S. Walks Away From Saudi Nuclear Deal?
The U.S. is currently in talks with Saudi Arabia concerning a nuclear energy programme, which Riyadh says is a means of diversifying its economy and freeing itself from a reliance Continue Reading
Algeria To Lure Oil Companies With Tax Incentives
Algeria is mulling over luring in international oil companies with tax incentives in a new energy law aimed at stimulating the North African country’s oil and gas industry. The government Continue Reading
Russia, Qatar Forge Closer Ties In Oil, Gas, Research
The Qatari Foundation for Education, Science, and Community Development has struck a partnership deal with Russia’s Rosneft to set up a research center focused on the energy industry. The announcement Continue Reading
OPEC Scrambles To Justify Output Cuts
A year and a half on from OPEC’s original deal to limit output, the surplus oil stashed in storage tanks around the world are nearly back to average levels. However, Continue Reading
Saudis: American Investors Will Have A Chance To Buy Into Aramco
U.S. investors will have the chance to buy shares of Saudi oil giant Aramco when it launches its initial public offering, Saudi Arabia’s Energy Minister Khalid al-Falih said over the Continue Reading
Iraqi oil exports set to dip on terminal overhaul
Iraqi oil exports could fall by over 300,000 b/d next month due to maintenance on one of the country’s four single-point moorings in the Persian Gulf. The oil ministry will Continue Reading
Nigeria: Thousands of Jobs At Risk As Oil Firms, Workers’ Crisis Worsens
There are indications that thousands of jobs may be lost as the confrontation between Petroleum and Natural Gas Senior Staff Association (PENGASSAN) and petroleum industry service firms worsens. Leaders of Continue Reading
Mexico’s Oil Reserves Drop Again Despite Recent Discoveries
Mexico’s proven oil and gas reserves dropped again last year, after new certified discoveries—mostly by private foreign operators—were unable to keep pace with current production. According to data by Mexico’s Continue Reading
Hyundai union head fears GM-like crisis; says electric cars destroy jobs
Hyundai Motor’s ( 005380.KS ) union chief warned its workers may face a similar crisis to the one hitting General Motors’ ( GM.N ) South Korean unit as sales in Continue Reading
Next Winter Olympics could be powered by renewable energy
The Winter Olympics in 2022 will have a low carbon footprint with the Chinese host city committing to more renewables, an international partner said. Beijing and the city of Zhangjiakou Continue Reading
China’s Oil Futures Soar on Debut
China’s yuan-denominated crude-oil futures surged on their long-awaited debut Monday, indicating positive initial sentiment toward the new market, which Beijing hopes will eventually give the country an oil benchmark to Continue Reading
Oil Rig Competition Flares Up Amid Permian Boom
Surging U.S. oil production on the one hand, and the exploration and production companies’ focus on keeping costs in check on the other, have prompted drilling rig makers to shift Continue Reading