Is $71 as good as it gets for oil bulls this year?
On the surface, things look good for oil producers. Global oil demand is set to grow at its fastest pace in three years and OPEC’s discipline in sticking to output Continue Reading
Saudi crown prince to meet with Trump amid slumping imports, diplomacy shift
Saudi Arabia’s crown prince is scheduled to meet with President Donald Trump on Tuesday, arriving as US imports of Saudi crude have declined to levels not seen in three decades Continue Reading
Aramco Gets Cool Response on IPO From U.S. Investors
In meetings in New York, fund managers push back on valuation Saudi officials were warned shale output may upset IPO plans Saudi Arabia’s willingness to delay the initial public offering Continue Reading
The Truth About Aramco’s $2 Trillion Valuation
Two trillion dollars: this was the price tag Riyadh put on the jewel in its crown, state oil and gas giant Aramco. This is how much the company was worth, Continue Reading
Aramco Gets Cool Response on IPO From U.S. Investors
In meetings in New York, fund managers push back on valuation Saudi officials were warned shale output may upset IPO plans Saudi Arabia’s willingness to delay the initial public offering Continue Reading
Nigerian Petroleum Reforms To Be Signed Into Law
Nigeria’s long-awaited Petroleum Industry Governance Bill (PIGB) will be signed into law by President Muhammadu Buhari towards the end of March, legislators hope, according to Reuters . The OPEC nation Continue Reading
More oil coming from OPEC-member Angola
Production has started in an area that revealed more than 3 billion barrels of oil in place off the coast of Angola, Italian energy company Eni said. Eni and Angolan Continue Reading
Trump Readies Sweeping Tariffs and Investment Restrictions on China
The dust has yet to settle on President Trump’s decision to impose sweeping tariffs on steel and aluminum imports, but the White House is preparing another major trade measure, this Continue Reading
The Oil Crisis That Can’t Be Stopped
Venezuela’s oil production fell by another 52,000 bpd in February from a month earlier, according to OPEC’s secondary sources data. That put Venezuela’s oil output at 1.548 mb/d for February, Continue Reading
Water Scarcity: India’s Silent Crisis
As Cape Town inches towards ‘Zero Hour’ set for July 15, 2018, the real threat of water scarcity is finally hitting millions of people worldwide. For on that day, the Continue Reading
U.S. drillers add oil rigs for seventh week in eight: Baker Hughes
U.S. energy companies added oil rigs for the seventh time in the last eight weeks on expectations crude prices in 2018 will top 2017, prompting more drillers to boost spending Continue Reading
A Bold, Divisive Plan to Wean Californians From Cars
Taller buildings could be coming to an Oakland neighborhood along the rapid-transit line to San Francisco if the State Legislature approves a bill that would override local zoning restrictions. SAN Continue Reading
Where Are America’s Winters Warming the Most? In Cold Places.
1929-1958 1959-1988 Winters in the United States have gotten warmer in the past 30 years, and some of the coldest parts of the country have warmed up the most. In Continue Reading
Canada Is Facing A Heavy Crude Crisis
Canada’s benchmark heavy crude oil widened its discount to WTI to the largest in six trading sessions on Thursday, as additional storage capacity in Alberta and data about lower crude-by-rail Continue Reading
Corn-state senators seek Trump meeting as U.S. biofuel changes loom
A group of senators from U.S. corn states have asked President Donald Trump for a meeting about the nation’s biofuels law, amid expectations the administration will soon act to lower Continue Reading
Permian gas production surge faces looming market, infrastructure constraints
An unrelenting surge in Permian Basin drilling, which is driving record gas production growth there this year, now appears to be facing market and infrastructure constraints that could come as Continue Reading
US utilities ask congressional leaders to lift cap on electric vehicle tax credit
More than three dozen US utilities this week asked congressional leaders to lift a cap on income tax credits for individuals who purchase electric vehicles, and industry observers differed Friday Continue Reading
European Gas Glut Forces Traders To Store Fuel On Tankers
Traders have booked in recent weeks at least three tankers to store summer-grade gasoline off the coasts of the Netherlands as supplies in northwest Europe have steadily increased this year, Continue Reading
Statoil’s New Name Comes From an Oslo Vet Practice
Statoil to propose name change to Equinor at AGM in May Norwegian company acquires name from Oslo veterinary practice Oil majors aren’t famed for their pranks, but Statoil ASA had Continue Reading
Exclusive: Trafigura set to boost its dominance in Urals – sources
Oil trader Trafigura will regain its position as the largest buyer of seaborne crude from Russia’s Rosneft, trading sources told Reuters on Friday, expanding their partnership as Rosneft reduces its Continue Reading
Eni promises richer returns after exploration success
Italian oil major Eni hiked its dividend on Friday and held out the prospect of a share buyback after promising higher growth in production and more cash. The logo of Continue Reading
Oil Majors Look To Gain Clarity On Sanctions Against Russia
The Italian oil major Eni will discuss sanctions against Russia with authorities in the European Union and the United States to gain clarity on the economic rivalry forming between President Continue Reading
The Population Bomb Has Been Defused
Some of the most spectacularly wrong predictions in history have been made by those who claim that overpopulation is going to swamp the planet. Thomas Malthus, a British economist writing Continue Reading
Oil prices set for weekly drop as concerns about rising supply weigh
Oil prices were set to fall this week, despite a slight gain in both benchmarks on Friday, on concerns among investors about rising supply from the U.S. and elsewhere threatening Continue Reading
Oil Rises on Growing Demand Outlook
Oil prices rose Thursday as investors weighed signs of growing global oil demand and surging U.S. shale production. Light, sweet crude for April delivery gained 23 cents, or 0.4%, to Continue Reading
At this rate, it’s going to take nearly 400 years to transform the energy system
Fifteen years ago, Ken Caldeira, a senior scientist at the Carnegie Institution, calculated that the world would need to add about a nuclear power plant’s worth of clean-energy capacity every Continue Reading
IEA raises global oil demand estimate as supply surges on US growth
The International Energy Agency raised Thursday its estimate for global oil demand growth this year to 1.5 million b/d and forecast supply would undershoot demand from the second quarter, assuming Continue Reading
Is OPEC Producing More Oil Than It Claims?
The March OPEC Monthly Oil Market Report is out with the February production data. All data is through February 2018 and is in thousand barrels per day. (Click to enlarge) Continue Reading
Norway’s DNO sets sights on Kurdish oil leadership
Norwegian energy company DNO set the bar high Wednesday for its operations in the Kurdish north of Iraq by committing to beat all of its rivals combined. “We are committed Continue Reading
Iraq Looks For Investors To Build 70,000 Bpd Refinery
Iraq is inviting companies to bid to build a 70,000-bpd oil refinery near the town of Haditha in the Anbar governorate, the oil ministry said on Thursday. Investors willing to Continue Reading
Saudi crown prince: If Iran develops nuclear bomb, so will Saudi
The next leader of Saudi Arabia says his country would quickly obtain a nuclear bomb if arch rival Iran successfully develops its own nuclear weapon. Crown Prince Mohammed bin Salman Continue Reading
BP To Sell Oilfields In Egypt To Shift Focus To Natural Gas
British Petroleum has begun to sell off its mature oil fields in Egypt to shift its focus to developing the country’s large natural gas reserves, according to a new report Continue Reading
Nigeria: Amnesty Activists Uncover Serious Negligence By Oil Giants, Shell and Eni
In a groundbreaking research project, Amnesty International has accused Shell and Eni of gross negligence and irresponsible approach to oil spills in the Niger Delta, thereby exacerbating environmental crisis in Continue Reading
Amnesty says Shell, Eni negligent on Nigeria oil spills
Amnesty International on Friday accused international oil majors Shell and Eni of negligence when addressing spills in Nigeria. Describing their actions as “serious negligence”, Amnesty said the companies were “taking Continue Reading
The Single Largest Supply Risk In Oil Markets
Venezuela lost another 60,000 barrels per day (bpd) in February, according to the Paris-based energy agency, and continues to present the largest supply risk to the global oil market. The Continue Reading
The Oil Canal That May Never Be
People have conceived of linking the gulf of Thailand with the Andaman sea for around 300 years but, as of yet, such plans have remained firmly in the realm of Continue Reading
Two LNG Giants Race For The Same Gas
Two of the biggest LNG projects in the world are due to start production this year, both offshore Australia: Japanese Inpex’s US$34-billion Ichthys development, and Shell’s US$14-billion Prelude FLNG project. Continue Reading
GM to build production versions of Cruise AV self-driver at Orion plant; roof modules at Brownstown
General Motors will build production versions of its Cruise AV ( earlier post ) at its Orion Township assembly plant in Michigan. Roof modules for GM’s self-driving vehicles will be Continue Reading
Trump Sanctions Russia Following Energy Grid Cyberattack
The Trump administration issued a series of punitive sanctions against Russia for coordinating a cyberattack on the U.S. energy grid, aviation systems, and other infrastructure, according to a new report Continue Reading
U.S. Shale’s Dirty Secret
U.S. shale is surging, threatening to take even more market share away from OPEC. But the prospect of U.S. oil edging out barrels from the Middle East is not nearly Continue Reading
Even More Evidence That Electric Cars Could Save the Planet
The latest numbers say that as the American grid shifts toward renewables, the positive impact of electric cars is increasing. Everyone’s saying it: The future of driving is electric. The Continue Reading
Millions Own Gas And Oil Under Their Land. Here’s Why Only Some Strike It Rich.
The U.S. is one of the only countries in the world that lets private individuals own the minerals under their land, a policy that dates to the founding fathers as Continue Reading
GE to Close Facility; Lay Off Texas Workers
GE Oil and Gas plans to close a facility in Lufkin, Texas, which result in staff reductions. Dozens of workers at Lufkin Industries, part of GE Oil and Gas, will Continue Reading
US foreign policy turn could take 1.4 million b/d off global oil market: analysts
An expected, aggressive turn in US foreign policy led by incoming Secretary of State Mike Pompeo could trigger a loss of up to 1.4 million b/d in global crude supply Continue Reading
Tesla’s Make-Or-Break Moment Is Fast Approaching
Elon Musk recently told attendees at the South by Southwest festival that two things are keeping him up at night: an apocalyptic future created by artificial intelligence, and production delays Continue Reading
U.S. solar power sector slows down after banner year
After a banner year for the U.S. solar power sector in 2016, growth has slowed down in response to waning segment support, a trade group found. An annual review of Continue Reading
Shell pledges to do its part on energy transition
Royal Dutch Shell is committed to playing a leadership role in the transition to a low-carbon global energy sector, the company said Thursday. “As the global population grows and living Continue Reading
BP sees onshore wind as the cheapest future source of electricity
In a report on energy efficiency trends, British energy company BP said onshore wind could become the most economical source of electricity within 30 years. A technology outlook for 2018 Continue Reading
UK Looks To Ditch Russian Gas After Spy Scandal
The UK-Russian relations have quickly deteriorated over the past week after the UK said that a former double agent and his daughter were poisoned in England by a military-grade nerve Continue Reading
Russia Could Pull The Plug On The OPEC Deal
Russia could pull out of the OPEC oil production cut deal before the end of 2018—or right after—as it has no obligation to stick with it, Iran’s Energy Minister, Bijan Continue Reading