Canada’s oil producers had just started to slowly recover from the oil price crash when they began to face increased constraints in marketing and monetizing their heavy crude oil. Transportation Continue Reading
U.S. crude stocks fell unexpectedly last week as refineries hiked output, the Energy Information Administration said on Wednesday. Crude inventories fell by 4.6 million barrels in the last week, compared Continue Reading
Transit of Russian natural gas via Ukraine will be reduced to just about 10-12 billion cubic meters annually after the completion of two new pipelines—Turkish Stream and Nord Stream 2. Continue Reading
2017 trends for UK offshore production were disrupted by the stoppage in the Forties pipeline in December, which took several hundred thousand barrels of oil equivalent per day offline. Overall Continue Reading
New natural gas discoveries on the Norwegian continental shelf could hold “significant” quantities of reserves, a subsidiary of Austria’s OMV said Wednesday. The Norwegian subsidiary said it made discoveries at Continue Reading
If the UK had established in the 1980s a wealth fund in which to invest North Sea oil revenues—similar to what Norway actually did in the 1990s—a UK fund would Continue Reading
Oil prices slipped on Wednesday on expectations for a build-up in U.S. crude inventories, but Russian government comments on prospects for stepping up cooperation with OPEC to coordinate output cuts Continue Reading
The American Petroleum Institute (API) reported a surprise draw of 3.28 million barrels of United States crude oil inventories for the week ending March 30, after analysts had anticipated a Continue Reading
Dow Jones Industrial Average, S&P 500 both climb higher U.S. crude inventories seen rising 2 million barrels: Survey Oil recouped some losses from this week’s equity-driven selloff as investor appetite Continue Reading
Oil has started the second quarter at a crossroads after trading in a narrow range so far in 2018 with the industry split over whether crude can sustain any rise Continue Reading
Over the past few months, a long line of U.S. shale companies has begun a “spring cleaning” of their portfolios, according to Rystad Energy. – U.S. onshore shale companies are Continue Reading
The wide discounts to which Canadian oil benchmarks are priced to WTI could diminish later this year as increased refinery capacity on both sides of the border would give more Continue Reading
Belt-tightening has been the policy of necessity in the oil industry over the past three years, and even the price recovery that began at the end of 2016 did not Continue Reading
Until recently, oil industry analysts and executives were lamenting the slump in global investment in upstream oil, and many continue to predict a looming oil supply shortage in the early Continue Reading
A Saudi oil tanker was targeted by the Iran-aligned Houthi movement on Tuesday afternoon local time off Yemen’s port of Hodeidah, sustaining minor damages and completing its course north, Saudi-owned Continue Reading
Iraqi Prime Minister Haider Al Abadi on Sunday unveiled an ambitious plan to end its dependence on oil through building up its private sector over the course of just five Continue Reading
Anglo-Dutch major Shell will sell its entire 90% stake and operatorship of the 1 Tcf Gaza Marine gas project, offshore Palestine, to a local investment company, which plans to bring Continue Reading
The oil basins off the coast of Brazil are among the best prospects in the world, German energy company Wintershall said after the latest auction. The Brazilian government offered nearly Continue Reading
Just days after initiating its ‘petroyuan’ futures contract , and hours after an unprecedented announcement that China will pay for oil in yuan , The Global Times, the unofficial mouthpiece Continue Reading
China responded to the Trump administration’s latest proposed penalties on Chinese goods, announcing 25% tariffs on critical American exports, including soybeans, airplanes, and autos. The Ministry of Commerce said the Continue Reading
China announced $3 billion of tariffs on U.S. goods, including pork and recycled aluminum. The move came as a retaliation to the Trump administration’s 25 percent tariff on steel and Continue Reading
China’s seemingly endless thirst for natural gas is on a collision course with not only U.S.-based liquefied natural gas (LNG) project developments, but others as well, including Russia and Australia, Continue Reading
The top legal officers from 11 states and Washington D.C. on Tuesday promised to defend federal automobile efficiency standards against a rollback proposed by the Trump administration this week. “All Continue Reading
The Environmental Protection Agency has exempted one of the nation’s largest oil refining companies, Andeavor , from complying with U.S. biofuels regulations – a waiver historically reserved for tiny operations in Continue Reading
While a trade group representing the U.S. auto industry said a review of fuel standards was the right move, critics said it would hurt the average consumer. Environmental Protection Agency Continue Reading
On Monday, the Trump administration formally declared that Obama-era fuel economy rules for automobiles were too strict and would likely be weakened in the months ahead. So how strict are Continue Reading
Coal has been getting the squeeze for years now, but the plunging cost of renewable energy is already starting to give natural gas a run for its money. The implications Continue Reading
Alaska’s Governor Bill Walker has proposed to use US$10 million previously earmarked for a seismic study of the Arctic National Wildlife Refuge to update the state’s archaic 911 system. The Continue Reading
The Trump administration heralded the government’s sale last month of U.S. drilling leases in the Gulf of Mexico as a bellwether. If that is the case, a Reuters analysis of Continue Reading
Each year the U.S. Energy Information Administration (EIA) produces forecasts of U.S. oil and gas production in its Annual Energy Outlook (AEO), which is widely viewed as an authoritative assessment Continue Reading
Even with some European countries lining up behind the project, getting approval for the Nord Stream 2 pipeline is a work in progress, Moscow said. The German government last week Continue Reading
The first-ever hydraulic fracturing effort in the United Kingdom is set for the third quarter following well completion in Lancashire, Cuadrilla Resources said. Cuadrilla said Tuesday it completed the first-ever Continue Reading
More than $1.5 billion in contracts for drilling services were awarded to companies for work in Norwegian waters, energy major Statoil said. The company said Tuesday it awarded contracts to Continue Reading
In a world-first, French Total is set to deploy groundbreaking autonomous robots to a North Sea oil platform to test the machines in operational inspections at the facility. The 18-month Continue Reading
Oil prices inched up on Tuesday as rising Russian output and expectations of a reduction in Saudi Arabian crude prices were offset by a potential slowdown in U.S. production. U.S. Continue Reading
Oil fell by more than 2 percent on Monday, pressured by a rise in Russian production, expectations that Saudi Arabia will cut prices of the crude it sends to Asia Continue Reading
One school of thought is that future oil demand is set to decline because consumers will have better options. Many in this “peak demand” camp believe that the growth of Continue Reading
Each month, I publish reports on ten to fifteen publicly traded upstream oil & gas companies. Part of each report is my estimation of what the company would sell for Continue Reading
Map showing rates of grounding-line migration and their coincidence with ocean conditions around Antarctica between 2010 and 2016. (Credit: Hannes Konrad et al, University of Leeds.) Antarctica’s ocean-front glaciers are Continue Reading
In about 20 months, the shipping industry is going to start burning a fuel that today they know next to nothing about. The International Maritime Organization has set a January Continue Reading
Top oil exporter Saudi Arabia is expected to cut prices for all crude grades it sells to Asia in May to reflect weaker prices for its Middle East benchmark Dubai Continue Reading
Data show March exports from Iraq, one of OPEC’s top producers, at an average of 3.4 million barrels of oil per day were slightly higher than the previous month. March Continue Reading
The outlook for a pipeline company that controls about half of the oil flow in Kazakhstan remains stable and supportive of growth, Fitch Ratings said. Fitch Ratings affirmed a BBB-rating Continue Reading
For decades, many Latin America’s oil-producing nations have often shunned investment from foreign firms, instead of keeping their vast reserves under the tight control of governments and state-run oil companies. Continue Reading
China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world’s biggest Continue Reading
BEIJING (Reuters) – China’s Sinopec group, parent of Sinopec Corp, aims to more than double its receiving capacity of liquefied natural gas over the next six years and lift domestic Continue Reading
A battery mandate is under consideration for new wind power installations in China, an energy-storage company said. File photo by Pat Benic/UPI April 2 (UPI) — In response to a Continue Reading
Just days after Beijing officially launched Yuan-denominated crude oil futures ( with a bang , as shown in the chart below, surpassing Brent trading volume) which are expected to quickly Continue Reading
China’s Alibaba wasn’t the first company to create a car vending machine – that honor belongs to a Singaporean entrepreneur who transformed Singapore’s Autobahn building into what appears to be Continue Reading
China has cut resources tax on shale gas production by 30 percent from April 1, the Ministry of Finance said on Tuesday, as the world’s largest energy consumer aims to Continue Reading
