New deal to unlock KRG gas production
KRG Minister of Natural Resources Ashti Hawrami (center left) and Majid Jafar, CEO of Crescent Petroleum and a director of Dana Gas (center right), sign a Gas Sales Agreement on Continue Reading
Did Venezuela Just Lose A Key Ally?
Venezuela’s debt crisis is only expected to grow worse this year, and the government could be without one of its most important benefactors, raising the odds of yet another default. Continue Reading
Is Guyana Prepared For An Oil Boom?
Guyana’s story shares many similarities with the story of the ugly duckling. One of the poorest countries in South America, it has historically been entirely dependent on oil imports. In Continue Reading
China takes minority stake in oil offshore United Arab Emirates
China is the next in line to take a stake in license areas off the coast of the United Arab Emirates, following European companies into the region. File photo by Continue Reading
China’s oil futures: frazzle or dazzle for foreign traders?
China’s crude oil futures, to be launched on Monday, will be a major step in Beijing’s years-long push to win greater sway over oil pricing, but for western traders it Continue Reading
How Tariffs Dampen the Energy Boom
Is someone in the White House colluding with China? The Trump administration’s decision to impose tariffs on imported aluminum and steel lets China off the hook for its chronic and Continue Reading
Largest Gulf of Mexico Lease Sale In History Attracts Lukewarm Interest
The Interior Department’s U.S. Gulf of Mexico Lease Sale 250 attracted $139 million in bids concentrated in deepwater offshore Louisiana and others areas near the Mexican border, according to a Continue Reading
Trump set for China tariff announcement on Thursday, trade war fears grow
President Donald Trump will announce tariffs on Chinese imports on Thursday, a White House official said, in a move aimed at curbing theft of U.S. technology that is likely to Continue Reading
U.S. crude oil stockpiles fall in week as imports drop: EIA
U.S. crude oil stockpiles fell unexpectedly last week as imports dropped and refining rates jumped, while gasoline and distillate inventories also declined, the Energy Information Administration said on Wednesday. Crude Continue Reading
Record-size U.S. offshore oil lease sale draws modest bidding
The largest lease sale in American history in the offshore Gulf of Mexico yielded $124.76 million dollars in winning bids on Wednesday, a modest response to the Trump administration’s effort Continue Reading
Scientists Are One Step Closer To Nuclear Fusion
Colorado State University scientists, using a compact but powerful laser to heat arrays of ordered nanowires, have demonstrated micro-scale nuclear fusion in the lab. They have achieved record-setting efficiency for Continue Reading
BP On Schedule To Drill First Deepwater Mexican Well By 2020
BP will begin drilling for oil in a Mexican deepwater offshore block in two years, after its drilling plan was approved by Mexico’s oil and gas regulator, the National Hydrocarbons Continue Reading
GoM Production, 2017 Summary
A Guest Post by George Kaplan 2017 was the highest producing year for oil in the GoM and included the record month in March. Gas, which has tended to come Continue Reading
Drillers Snap Up Federal Leases Near Utah’s Wilderness Monuments
The US Bureau of Land Management auctions off more than 51,000 acres in southeastern Utah for oil and gas development. WASHINGTON, March 20 (Reuters) – The U.S. Bureau of Land Continue Reading
My view on nuclear fusion, in a nutshell
Nowadays few businesses would invest in conventional nuclear power stations. In the US subsidies of 100%, or more, fail to attract private investment for a nuclear fission power station, the Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the Week Ending March 16, 2018 U.S. crude oil refinery inputs averaged about 16.8 million barrels per day during the week ending March 16, Continue Reading
Rosneft sees OPEC deal extension post 2018 hurting new projects: analyst
A possible extension of a global deal to curb oil production would have a negative impact on Russian energy giant Rosneft’s new large-scale projects, analysts at brokerage Aton said on Continue Reading
Russia considers gas field options for Chinese pipeline
Natural gas from basins in southeastern Siberia could start moving through a natural gas pipeline to China within the next five years, Gazprom said. Representatives from Russian natural gas company Continue Reading
Gazprom’s Power Of Siberia Gas Link To China 75.5% Complete
The Power of Siberia natural gas pipeline from Russia to China is 75.5 percent complete, Russia’s gas giant Gazprom said on Wednesday, updating the market on the project that is Continue Reading
North Sea Oil Has Escaped Its Death Spiral
The oil industry is expected to increase spending in the North Sea and the number of projects that could receive a greenlight is set to rise this year for the Continue Reading
Oil edges up on Middle East tensions, but soaring U.S. output still weighs
Oil prices edged up on Wednesday, lifted by tensions in the Middle East and healthy demand, although rising U.S. output continued to weigh on markets. U.S. West Texas Intermediate (WTI) Continue Reading
Oil rises to three-week high on Mideast tensions, Venezuela concerns
Oil prices climbed to their highest level in three weeks on Tuesday as tension in the Middle East and the possibility of further falls in Venezuelan output helped offset the Continue Reading
Price Reflexivity – What’s It Going To Take For People To Wake Up To The Potential Of Higher Oil Prices For Longer?
Market participants are still using lower for longer oil price scenario as a base case. We explain why oil prices have to move to a level where the bull thesis Continue Reading
Aramco Seeks Majority Stake In Massive Indian Refinery
Saudi Aramco is negotiating the acquisition of a majority stake in a massive oil refining complex set to be built in the western Indian state of Maharashtra, India’s Economic Times Continue Reading
Trump praises arms sales as he meets Saudi crown prince
President Donald Trump on Tuesday praised his relationship with Mohammed bin Salman as he met the Saudi crown prince at the White House, pointing to growing arms sales to the Continue Reading
What The Saudi-Russian Alliance Means For Oil Markets
For the last three or four decades it would be very hard to imagine any sort of deep cooperation between Saudi Arabia and Russia. The two share a history fraught Continue Reading
February production lifted by Rumaila and Zubair
Iraq’s oil production rose slightly in February, mostly due to increases at the country’s two most prolific fields, Rumaila and Zubair. Fields in federal Iraq and the autonomous Kurdistan region Continue Reading
Why Oil-Rich Saudi Arabia Is Turning to Nuclear Power
With the world’s second-biggest proven reserves of oil, Saudi Arabia seems an unlikely aspirant to the nuclear-energy club. Yet the largest oil exporter plans to build at least 16 nuclear Continue Reading
Offshore Senegal reveals more oil potential
After making an upward revision to the reserve estimate offshore Senegal, Australia’s FAR Ltd. said a final investment decision is expected next year. FAR Ltd. and its joint venture partners Continue Reading
U.S. impact of Venezuelan sanctions muted
U.S. Treasury Secretary Steven Mnuchin targets a petro currency that, according to a risk consultant group, only works in the mind of Venezuelan President Nicolas Maduro. Photo by Kevin Dietsch/UPI Continue Reading
Chinese ‘Teapot’ Oil Refiners Prepare For Ethanol Blending
Several Chinese independent oil refiners, commonly known as ‘teapots’, are getting ready to start buying ethanol and blend it with their fuel to meet China’s regulation that says by 2020, Continue Reading
Exxon still assessing damage to Papua New Guinea natural gas facilities
A senior Exxon Mobil Corp executive said on Wednesday the company is still assessing damage to its natural gas processing plant in the mountains of Papua New Guinea, knocked out Continue Reading
Will China’s New Oil Futures Flop?
This week will see a historic event: on March 26, trading will begin in yuan-denominated crude oil futures contracts on the Shanghai International Energy Exchange. The futures launch is historic Continue Reading
U.S. Interior Department offers oil leases near Utah’s wilderness…
The U.S. Department of Interior on Tuesday will auction off more than 51,000 acres (21,000 hectares) in southeastern Utah for oil and gas development, over objections from conservationists, who say Continue Reading
Gas prices in the U.S. officially hurt
With gas prices about 10 percent higher than they were at this point last year, the situation may be near the point of U.S. economic strain, an analysis found. Motor Continue Reading
Oil Prices Rise After API Reports Surprise Crude Draw
The American Petroleum Institute (API) reported a surprise draw of 2.739 million barrels of United States crude oil inventories for the week ending March 16, according to the API data. Continue Reading
US offshore industry downplays importance of ‘bellwether’ Gulf sale
The Trump administration has dubbed Wednesday’s Gulf of Mexico oil and natural gas lease sale as the largest in US history and Interior Secretary Ryan Zinke has called it a Continue Reading
The big squeeze: pain ahead if Alberta cuts oil flow to B.C.
The Trans Mountain pipeline between Alberta and B.C. supplies a large percentage of the West Coast’s energy needs | BIV files When GasBuddy petroleum analyst Dan McTeague made predictions recently Continue Reading
Statoil takes control over North Sea fields
Norwegian energy company Statoil takes control over the Martin Linge field in the North Sea following an agreement with French supermajor Total. Photo courtesy of Statoil March 20 (UPI) — Continue Reading
Germany’s Pivot From Russian Gas Will Be Costly
More problems are mounting for Russia’s oil and gas sector. This time it’s coming from Germany, which until recently usually gave Russia’s energy sector more lead way than the U.S. Continue Reading
Trafigura moves hedging out of Europe, leads U.S. oil exports race
Trading giant Trafigura has moved its commodities hedging operations to the United States and Asia and away from Europe to avoid being subject to new, tighter MiFID II market regulations Continue Reading
Ship operators need to lock in HSFO supply now for vessels running on scrubbers: sources
Vessel operators who plan to run ships on scrubbers to meet the International Maritime Organization’s global sulfur cap rule should lock in long term contracts now with bunker suppliers, industry Continue Reading
“Made in China” e-buses to be used in world’s 1st all-electric long-distance routes
German intercity bus company FlixBus is investing in e-buses produced by Chinese bus makers and planning to test them on their long-distance routes for the first time in the world. Continue Reading
Oil prices rise on Middle East tension, falling Venezuela output
Oil prices rose by almost 1 percent on Tuesday, lifted by a weak dollar, tensions in the Middle East and concerns of a further fall in Venezuelan output. U.S. West Continue Reading
Oil dips as Wall Street dives; tensions over Iran support crude
Oil prices slipped on Monday as Wall Street slid more than 1 percent and energy market investors remained wary of growing crude supply, although tensions between Saudi Arabia and Iran Continue Reading
The Harsh Reality Of A Global Energy Transition
I recently asked a group gathered to hear me speak what percentage of the world’s energy is provided by these six renewable sources: solar, wind, geothermal, wave, tidal, and ocean Continue Reading
Ship Owners’ Multibillion-Dollar Quandary: Buy Cleaner Fuel or a Fuel Cleaner?
The owners of 60,000 cargo ships are bracing for tighter emissions rules that are forcing them to make a multibillion-dollar choice: Start buying cleaner-burning fuel or invest in a device Continue Reading
OPEC Doubles Down On Draining Oil Inventories
Although the oil market has been improving, OPEC still has work to do to bring global oil inventories back to their five-year average—the metric that OPEC has vowed to achieve Continue Reading
Aramco Scales Back IPO Plan, Eyes Saudi-Only Listing
Saudi Arabia is scaling back its ambitions for a public offering for oil giant Aramco, moving ahead with a listing next year solely on the Saudi stock exchange while taking Continue Reading
Saudi Crown Prince Will Seek to Solidify Anti-Iran Stance With Trump White House
Crown Prince Mohammed bin Salman arrives Monday in Washington, D.C., bringing the brash foreign policy that has shaped Saudi Arabia’s more muscular stance in the Middle East to counter archenemy Continue Reading