Mexico’s National Hydrocarbon Commission (CNH) launched Thursday an auction to farm out seven onshore clusters under Pemex’s control in a bid to help the state oil company find financial resources Continue Reading
Venezuela on Thursday scorned a $2.04 billion award to ConocoPhillips ( COP.N ) over a decade-old nationalization as the U.S. oil producer filed suit in a federal court to enforce Continue Reading
Asia’s most externally vulnerable economies – India, Indonesia and the Philippines – have just taken a one-two punch. U.S. 10-year Treasury bond yields US10YT=RR hit 3 percent this week, a Continue Reading
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding not far off $100 a tonne Continue Reading
The first VLCC to directly load a cargo at the Louisiana Offshore Oil Port arrived at the port of Huizhou, China, on Sunday. The Shaden departed LOOP on February 18 Continue Reading
Last week, the U.S. averaged 2.3 million barrels per day in crude oil exports, the highest average for any week on record. The surge in exports is being driven by Continue Reading
U.S. crude, product exports rise to record 8.3m b/d last week Higher prices encourage the nation to pump more: Citigroup The U.S. looks likely to overtake Saudi Arabia to become Continue Reading
The Trump administration should brace itself for years of litigation should it downgrade fuel economy standards for vehicles, a California senator said. U.S. Environmental Protection Agency Administrator Scott Pruitt said Continue Reading
Adding more opportunities in the offshore sector is part of the effort to retool the evolving portfolio for Royal Dutch Shell, its chief financial officer said. Shell is the latest Continue Reading
Concerned parties have another 30 days to weigh in on U.S. plans to open up the Arctic waters off the coast of Alaska to drillers, the government said. The Bureau Continue Reading
Work for BP is geared toward linking one of the largest fields in the U.S. Gulf of Mexico to a floating production unit, a services company said. “We are committed Continue Reading
Rice University scientists have discovered a novel phenomenon of light-induced lattice expansion in perovskite materials. The lattice expansion cures bulk and interface defects, which leads to an enhancement of perovskite Continue Reading
The U.S. economy likely slowed in the first quarter as growth in consumer spending braked sharply, but the setback is expected to be temporary against the backdrop of a tightening Continue Reading
The highest oil prices in years are increasing expenses for companies that had grown used to low energy costs since crude’s 2014 tumble, while the turnabout is proving to be Continue Reading
Royal Dutch Shell saw its profits jump by 42 percent in the first quarter, leading to the best quarterly results in years. Yet Wall Street is still skeptical of Shell Continue Reading
Worsening transportation bottlenecks that led to wider discount of Canadian crude oil prices stifled the production and earnings of some of the big oil sands producers in the first quarter. Continue Reading
Gazprom is currently shipping as much gas to Europe as it typically does in winter months, and expects demand this summer to be close to winter levels, Alexander Medvedev, Deputy Continue Reading
Britain is banking on a series of ancient mines on its southwestern tip to secure a slice of the global electric car revolution. The English county of Cornwall and the Continue Reading
The French economy slowed in the first three months of the year, but Spain continued to enjoy a robust expansion, raising questions over the long-term strength of the eurozone’s recovery. Continue Reading
Oil prices rose on Thursday, supported by expectations the United States will re-impose sanctions against Iran, a decline in output in Venezuela and ongoing strong demand. Brent crude oil futures Continue Reading
French President Macron pushing for a new nuclear agreement U.S. crude stocks, Cushing supplies and output rose last week Crude closed higher as investors remained laser-focused for any signals from Continue Reading
U.S. crude rose on Wednesday, shrugging off data showing rising domestic fuel inventories and production, and both U.S. crude and Brent held within sight of three-year highs reached the previous Continue Reading
There’s no certain long-term future for coal as a power source given the shift toward low-carbon options, but that’s not the case near-term, a U.N. agency said. Coal accounts for Continue Reading
As oil prices hover close to multi-year highs, Saudi’s Oil Minister has hit the wires saying that OPEC ‘shouldn’t be complacent and listen to some of the noise such as Continue Reading
A part of those petrodollars could flow back into the global markets if oil producing countries boost investments in various asset classes, according to some large investment banks. These potential Continue Reading
Oil prices are expected to average $65 a barrel this year, up from the $53 per barrel average of 2017, driven by strong consumer demand and OPEC’s continued cuts, the Continue Reading
The two leaders hugged and kissed quite a bit during the French President’s visit to Washington, and the oil market took notice when President Trump voiced some “flexibility” regarding a Continue Reading
A day before a fifth fields auction, Iraq’s sole successful gas field thus far from a previous bidding round is readied to supply much-needed gas to power plants. SIBA – Continue Reading
French President Emmanuel Macron said it was his “bet” that President Donald Trump would withdraw the U.S. from the Iran nuclear deal, a move he said would lead to a Continue Reading
Iran’s supreme leader called on Muslim nations to unite against the United States, state television reported on Thursday, saying Tehran would never yield to its arch foe’s “bullying”. Iran’s Supreme Continue Reading
U.S. president may quit accord ‘for domestic reasons’: Macron Trump has set May 12 deadline for strengthening nuclear accord French President Emmanuel Macron said he thinks U.S. President Donald Trump Continue Reading
Having slashed Saudi crude imports for May by 40 percent, China’s Sinopec—the largest oil refiner in Asia—will continue to cut imports of the flagship Saudi crude grade in June and Continue Reading
After hinting at a possible free-trade agreement between the two oil-rich countries, a Russian delegation said it was in Iran to explore the future for imports. Russian Prime Minister Dmitry Continue Reading
Libyan production for U.S. energy company Hess Corp. increased exponentially from first quarter 2017. Production for Libya in general all but collapsed at the height of civil war. File Photo Continue Reading
Chevron said on Wednesday that it evacuated executives from Venezuela following the imprisonment of two of its workers last week. The assets of Chevron are increasingly in peril, and the Continue Reading
A group of investors holding part of a secured US$2.5-billion bond issued by Venezuela’s PDVSA and maturing in 2020 are organizing ahead of an interest payment due to be made Continue Reading
(Reuters) – U.S. oil major Chevron Corp has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state-owned oil company PDVSA, according to Continue Reading
An international arbitration court has ordered Venezuela’s state-run oil company PDVSA to pay ConocoPhillips $2.04 billion for early dissolution of two joint ventures for producing oil in the OPEC-member country, Continue Reading
It is mid-morning on a weekday yet all that can be heard in the once-bustling corridors of the Orlando Garcia state primary school is the swish of palm trees outside Continue Reading
Employees work on the assembly line of the electric bus at a BYD’s production base on January 23, 2018 in Xi’an, China. China’s largest electric carmaker BYD sold 113,669 new Continue Reading
Electricity prices in the U.S. (in real terms) have held steady for two decades. A remarkable record achieved because of: cost cutting during the initial days of industry deregulation, the Continue Reading
The Permian Basin has long been touted as the fastest growing shale play in the United States, but now its oil-producing prowess is being highlighted again as the Energy Information Continue Reading
( A good definition of Christmas for a commodities trader goes something like “this thing that costs X over here costs X+Y over there.” Christmas has come way early in Continue Reading
U.S. crude oil and gasoline inventories unexpectedly rose last week even as exports hit record highs, the Energy Information Administration said on Wednesday in an overall bearish report that raised Continue Reading
Soaring output, weak U.S. oil prices to fuel record outflows American refiners may be near limits on local oil processing Selling more than two million barrels a day of U.S. Continue Reading
Smaller independent refiners with less complex facilities are surging in the stock market of late, as investors expect strong earnings growth thanks to the recent fall in price of their Continue Reading
A new wave of electric-scooter rental start-ups is facing a legal reckoning, as city authorities across the US race to tame the “dockless” two-wheelers that have flooded their streets. New Continue Reading
Ford Motor Co. said Wednesday it will shed most of its North American car lineup as part of broad plan to save money and make the company more competitive in Continue Reading
Summary of Weekly Petroleum Data for the Week Ending April 20, 2018 U.S. crude oil refinery inputs averaged over 16.6 million barrels per day during the week ending April 20, Continue Reading
Major oil and gas companies need to embrace the “unstoppable” electrification of society and take practical steps to limit the use of carbon-intensive fuels if they are to retain their Continue Reading
