Oil prices dipped on Monday after a rising rig count in the United States pointed to higher production there, but markets held near their highest in over three years and Continue Reading
Oil prices have risen as high as $75 a barrel for the first time in four years. But what has driven the rally and will it continue? Here are the Continue Reading
Andurand says on Twitter lack of investment risks price spike Higher prices aren’t a threat to the economy, Andurand says Pierre Andurand, one of oil’s most prominent hedge fund managers, Continue Reading
The term “demand destruction” is again entering the lexicon of the current crude oil market as the sharp rise in prices raises concerns about when do consumers start cutting back Continue Reading
Nigerian Petroleum Development Company (NPDC), a subsidy of the Nigerian National Petroleum Corporation (NNPC) will push daily production of crude oil to half a million barrels, emerging as the country’s Continue Reading
India is one of the world’s largest oil consumers, accounting for around 4 percent of global consumption. Only the U.S. and China outrank India in this regard, making it a Continue Reading
Mexico state oil company Pemex expects to close 2018 by producing 1.98 million b/d of crude oil, 140,000 b/d more than March’s reported production, allowing it to achieve its annual Continue Reading
The Cuban government has signed off on an environment license that could pave the way to drilling for oil onshore, an Australian energy company said. Melbana Energy Ltd., which changed Continue Reading
The dollar is rallying again after floundering for most of the past year, another sign that global growth momentum may be shifting back to the U.S. and away from other Continue Reading
China’s new oil futures contract is gaining some momentum as a fixture on the global oil market, although hurdles remain before it can become a key benchmark for Asia. China Continue Reading
Volkswagen is spending $2 billion in America to correct its “Dieselgate” cheating scandal — and to move beyond the typical upscale electric car shopper that tends to be much more Continue Reading
Four months ago several large air carriers said they were in no rush to start hedging against further price increases in crude oil and fuel. Now they may be starting Continue Reading
Average annual Norwegian wellhead C&C production dropped 1.5% in 2017, from 1709 kbpd (625 mmbbls total) to 1682 kbpd (614 mmbbls total). Wellhead gas (which includes fuel gas, flaring and Continue Reading
For the biggest US oil explorers, the first quarter was a study in contrasts. (Bloomberg) — For the biggest U.S. oil explorers, the first quarter was a study in contrasts: Continue Reading
Draped in flower-covered panels, the iconic derrick that towers over Beverly Hills High School has pumped crude for decades. Now, it waits to be dismantled, its demise mirroring the fate Continue Reading
U.S. crude differentials rose in light volumes on Friday, with Midland grades firming for a third straight day and Light Louisiana Sweet continuing to trade near three-month highs. U.S. crude’s Continue Reading
Oil prices edged lower on Friday, although Brent still gained for a third straight week amid supply concerns should the United States reimpose sanctions on Iran. Brent crude futures LCOc1 Continue Reading
US drillers added 8-rigs to the total number of oil and gas rigs this week, according to Baker Hughes, adding 5 oil rigs and 3 gas rigs. Meanwhile, neighboring Canada Continue Reading
The diplomatic breakthrough on the Korean Peninsula is taking away one source of geopolitical risk for oil markets, at least for now, with prices dipping in early trading on Friday. Continue Reading
The world’s biggest oil companies are awash in cash, thanks to rising crude prices. But few, if any, are going on spending sprees, even as the prospect of a global Continue Reading
Chevron, the world’s third-largest publicly traded oil producer, is spending $3.3 billion this year in the Permian and an additional $1 billion in other shale basins. Some growing physical limitations Continue Reading
Angola’s crude exports fall to lowest since at least 2008 OPEC disruptions could send prices above $80 a barrel: BofAML While plunging output in Venezuela captures the oil world’s attention, Continue Reading
New Secretary of State Mike Pompeo tantalized U.S. allies meeting here on Friday by keeping the door open to preserving the Iran nuclear deal, but said absent “a substantial fix” Continue Reading
Jerry Flory hates it when the price of oil goes up. The co-owner of Flory’s, a small, family chain of petrol stations and convenience stores about 40 miles north of Continue Reading
State-held Nigerian National Petroleum Corporation (NNPC) aims to make its exploration and production unit—the Nigerian Petroleum Development Company (NPDC)—the top oil producer in the country, local media quoted NNPC group Continue Reading
Uruguay’s first oil auction in seven years that had offered 17 offshore blocks didn’t attract any bids by the April 26 deadline, Uruguay’s state-run oil company ANCAP said. Although two Continue Reading
Investors buying Venezuelan debt in recent weeks on hopes the May elections might bring a new government or that rising oil prices will bolster the OPEC member’s creditworthiness may be Continue Reading
Dinged by a severe earthquake in Papua New Guinea, Exxon Mobil said Friday its production levels were down 6 percent when compared with last year. In its quarterly report, Exxon Continue Reading
A proposed C$40 billion ($31.1 billion) liquefied natural gas export terminal on British Columbia’s coast edged closer to reality on Friday, as the company behind the project said it had Continue Reading
The U.S. oil drilling rig count rose for the fourth week in a row and ended the month sharply higher as producers plan to boost output as they reap profits Continue Reading
More shale natural gas from basins in Oklahoma can find its way to the market with increased network access, shale producer Continental Resources said. Continental secured a transportation agreement for Continue Reading
A 2 million barrel-carrying supertanker arrived for the first time at a jetty in Texas City as surging U.S. oil output drives up incentives to export. The Nave Quasar, a Continue Reading
The Trump administration is moving to relax some offshore drilling requirements imposed in response to the Deepwater Horizon disaster but is rebuffing the oil industry’s plea for bigger changes. Proposed Continue Reading
The new regulations would also challenge California’s authority to set its own emissions marks, which it seeks to keep at the tougher, Obama-era standards. The Trump administration has drafted a Continue Reading
Norway’s sovereign wealth fund, built on the back of the country’s oil wealth and the biggest in the world, reported its first quarterly loss in two years for January to Continue Reading
Russian gas giant Gazprom said on Friday that the construction of a gas processing complex near the Baltic Sea will require no more than $5 billion in capex. The company Continue Reading
In a decision Friday to keep its key rate static, the Central Bank of Russia said it was unwavering on its estimate of risk outlook tied to oil price volatility. Continue Reading
Italian energy company Eni said it would be cash neutral so long as oil prices hold above $55 per barrel, boasting its own net production was up from last year. Continue Reading
TOKOil prices edged lower on Friday, but Brent largely held its gains from the previous session amid concerns that Iran may face renewed sanctions, choking off supply. Global benchmark Brent Continue Reading
Renewed uncertainty over a deal that lets Iranian crude oil flow through the market helped trigger a strong rally in crude oil prices on Thursday. The price of oil moved Continue Reading
Profit season in the oil industry is in full swing, and the mood is upbeat: strict financial discipline is paying off, cash flows are improving (or emerging after a long Continue Reading
The upcoming implementation of restrictions on sulfur emissions in marine fuels can potentially jack up the annual fuel costs for the shipping industry by a whopping $50-$60 billion, including by Continue Reading
While the climate policy world is littered with numbers, three of them have dominated recent discourse: 2, 1000, and 66. At the 2015 U.N. climate summit in Paris , world Continue Reading
It’s “mission accomplished” for OPEC in its battle against bulging global inventories of oil, thanks to the production cuts it has had in place for nearly 18 months. The Organization Continue Reading
Iraq failed to attract investment from the top global energy companies in its oil and gas exploration/development contract auction on Thursday, with no major firms winning any bids and only Continue Reading
Libya’s National Oil Corporation (NOC) has held discussions with majors BP and Eni about resuming exploration activity in the North African country, it said on Thursday. BP signed a major Continue Reading
Libyan authorities were informed before French energy major Total closed a $450 million deal with Marathon Oil to take over the U.S. firm’s 16 percent share in the Waha concession, Continue Reading
Egypt’s oil and gas future has been looking bleak for years, as the impact of the Arab Spring, the emergence of a Muslim Brotherhood government and a military coup by Continue Reading
No international oil major won any exploration and development contracts in Iraq’s Thursday auction of 11 oil and gas blocks, as the bidding attracted just one—unsuccessful—bid by a major company, Continue Reading
Venezuela said on Thursday a $2.04 billion award to ConocoPhillips over a decade-old nationalization was a “tough lesson” for the U.S. oil multinational given it was less than 10 percent Continue Reading
