UK’s Tullow to halt UK natural gas production in Q3 as fields reach life-end
The UK’s Tullow Oil said Wednesday it would cease all natural gas output from its assets in the UK Southern North Sea in the third quarter of this year in Continue Reading
UK Needs A Fracked Well A Day To Reduce Gas Imports
The UK will need to have one well per day fracked in the period between 2021 and 2035 if it wants to reduce its natural gas imports by 50 percent, Continue Reading
French oil major Total’s first-quarter profits lifted by record production
Record output and high oil prices helped French oil and gas major Total ( TOTF.PA ) report a consensus-beating rise in net adjusted profit during the first three months of Continue Reading
Oil dips away from late-2014 highs as rising U.S. supply clouds bull-run
Oil prices on Wednesday fell back from more than three-year highs reached the previous session, as rising U.S. fuel inventories and production weighed on an otherwise bullish market. Brent crude Continue Reading
Higher Oil Prices Could Unleash Market Turmoil
While traders have been closely following the push higher in 10Y yields, which rose as high as 2.996 percent on Monday, as well as the dramatic short squeeze in the Continue Reading
Oil Prices Tumble After Brent Breaks $75
Natural gas production in Pennsylvania topped 15 billion cubic feet per day (Bcf/d) in 2017, a 3 percent increase from the year before. – The Marcellus and Utica shales are Continue Reading
Goldman: Oil Demand Will Continue To Soar
Oil demand is growing, and production is falling. This is the message we have been receiving for a few weeks now with increasingly frequency, especially after OPEC’s leader Saudi Arabia Continue Reading
High gas prices not yet crimping demand
Higher retail gasoline prices in the United States aren’t doing much yet to crimp demand, which is testing multi-year highs, a market reports find. Motor club AAA reported a national Continue Reading
Surprise Build In Crude Oil Stocks Rattles Market
The American Petroleum Institute (API) reported a surprise build of 1.099 million barrels of United States crude oil inventories for the week ending April 20, contrary to analyst expectations that Continue Reading
Is This The Most Bullish Oil Market Of All Time?
Money managers are overwhelmingly betting that oil prices will continue to rise in the short term as geopolitical wild cards trump concerns that U.S. shale and other non-OPEC supply growth Continue Reading
Iran Pushes Back Against The OPEC Deal
Extending the OPEC cuts beyond their current expiry date at the end of 2018 would seem unnecessary if oil prices keep rising, Iran’s Oil Minister Bijan Zangeneh told the Iranian Continue Reading
EU naval force unaware of Red Sea tanker seizures after Saudi embassy report
The European Union naval force responsible for monitoring shipping around the Horn of Africa region is unaware of a tanker security situation off Yemen reported by the Saudi Embassy in Continue Reading
Oil Slips as Trump and France’s Macron Talk Iran Deal
Oil prices slipped on Tuesday as concerns that the United States might reinstate sanctions against Iran faded somewhat, alleviating worries about the future of Iranian exports. U.S. President Donald Trump Continue Reading
Iraq oil exports from south average 3.5 million bpd so far in April: oil executives
Iraq’s crude exports from its southern region on the Gulf averaged 3.5 million barrels per day so far in April, two oil executives told Reuters on Wednesday. Reporting by Aref Continue Reading
Sudan: Fuel Shortage Further Paralyses Transport
Reports from various parts of Sudan to Radio Dabanga tell of the paralyzing effect the fuel shortage has had on traffic and public transportation for nearly two consecutive weeks. On Continue Reading
Pemex CEO says must move towards IPO, but not currently planned
The chief executive of Mexico’s national oil company Pemex [PEMX.UL] said on Wednesday it must move towards a stock exchange listing like Saudi Arabia’s Aramco has done but that such Continue Reading
Colombia’s Migrant Crisis Worsens With Venezuela Nearing ‘Implosion’
The flow of migrants fleeing Venezuela’s collapsing economy is increasing every day, putting a strain on Colombia’s health and education systems and its jobs market, Colombian President Juan Manuel Santos Continue Reading
Shell holds tight to shale basin in Argentina
Royal Dutch Shell sheds assets in Argentina, including it’s retail operation, but will maintain it’s grip on one of the more promising shale basins in the world. Photo courtesy of Continue Reading
Can China Combat Its Natural Gas Crisis?
Last December, LNG imports into China hit a record high amid natural gas shortages due to the government moving too fast with its shift from coal to gas as well Continue Reading
China to issue rest of 2018 fuel export quotas in single round: sources
BEIJING (Reuters) – China is expected to issue fuel export quotas for the rest of this year in one allocation round rather than in batches, keeping the total allowances for Continue Reading
EPA proposes to bar use of confidential data in rulemaking
The Environmental Protection Agency announced a new rule on Tuesday that would stop it from relying on scientific research underpinned by confidential data in its making of regulations. The measure Continue Reading
U.S. exporting more oil, but that could change
One of the uncertainties in the energy market is how demand figures respond to higher oil prices, analysis finds. U.S. consumers are paying about 15 percent more for gas than Continue Reading
Weatherford takes a loss in the first quarter
Following its industry peer, Schlumberger, oilfield services company Weatherford said its revenue for the first quarter was lower despite the robust market. Weatherford International, one of the largest oilfield services Continue Reading
E.P.A. Announces a New Rule. One Likely Effect: Less Science in Policymaking.
Scott Pruitt, the E.P.A. administrator. Critics of the proposed measure say it will undercut the agency’s ability to protect public health. WASHINGTON — The Environmental Protection Agency announced a new Continue Reading
Permian crude differential hits lowest since Aug 2014 as output tops expectations
Permian Basin light sweet crude WTI Midland fell to its lowest level in more than three and a half years Tuesday, with rising production and limited takeaway capacity pushing down Continue Reading
Enbridge Shares Fall on Minnesota Pipeline Route Ruling
Shares of Canadian pipeline operator Enbridge Inc dropped more than 4 percent on Tuesday after a Minnesota judge agreed the Line 3 oil pipeline replacement project was needed but rejected Continue Reading
Permian Basin Seen Growing to Largest Oil Patch in the World
The Permian shale play is all about setting records. Now, the region will probably become the world’s largest oil patch over the next decade. Output in the basin is forecast Continue Reading
A New Lithium War Is About To Begin
Lithium, or “white petroleum” as some call it, has become a crucial element in today’s high-tech economy. Demand for lithium is soaring, and producers are frantically searching for new sources Continue Reading
Higher Prices Set To Send U.S. Oil Stocks Soaring
The U.S. shale industry is widely expected to become cash flow positive for the first time. For years, even when oil prices were high prior to the 2014 meltdown, shale Continue Reading
Shell to Deploy New Design in Mississippi Canyon
Shell, Statoil to proceed with eight-well subsea project southeast of New Orleans. Shell Offshore, Inc. will proceed with the Vito deep-water development in the U.S. Gulf of Mexico. The Royal Continue Reading
The Road to the Seneca Cliff is Paved with Evil Intentions. How to Destroy the World’s Forests
The oldest stories of human lore have to do with cutting trees and with the disasters that followed as a consequence. Above, Legendary Sumerian heroes Gilgamesh and Enkidu kill the Continue Reading
Coal power generation declines in United Kingdom as natural gas, renewables grow
Source: U.S. Energy Information Administration, based on Digest of U.K. Energy Statistics and National Statistics: Energy Trends Note: 2017 values are estimates based on data through September. In the United Continue Reading
General Electric to trial world’s largest wind turbine in Britain
U.S. conglomerate General Electric will test the world’s largest wind turbine in a facility in northeast England, it said on Tuesday. GE Renewable Energy, the renewable arm of the U.S. Continue Reading
Cambridge donor BP urges university to keep fossil fuel investments
BP Chief Executive Bob Dudley on Tuesday urged Cambridge University not to yield to pressure from hundreds of students and academics to cut its investments in fossil fuels and pointed Continue Reading
Norway’s Statoil Q1 petroleum output rises 2%, expects full-year production to edge up 1%-2%
Norwegian state-controlled Statoil on Wednesday posted a strong operational first quarter, lifted by record overseas production and higher oil and gas prices, and predicted that total petroleum output for the Continue Reading
Oil tops $75, highest since 2014 OPEC meeting that led to pump war
Oil rose on Tuesday above $75 a barrel to its highest since November 2014, supported by OPEC-led production cuts, strong demand and the prospect of renewed U.S. sanctions on Iran. Continue Reading
Oil rebounds even as Iran dashes hopes of OPEC cut extension
Global benchmark Brent crude turned positive in volatile trade on Monday as it jockeyed between downward pressure after Iran dashed hopes that OPEC would extend its production cap pact and Continue Reading
What Is A ‘Fair’ Price For Oil?
Last week, oil prices hit their highest level since late 2014 on the back of continued global and U.S. stockpile drawdowns and expectations that oil demand growth will stay strong Continue Reading
Hedge Funds Are Certain Oil Prices Will Head Higher
Money managers have amassed close to record long positions in the six-major oil-linked futures and option contracts, and the ratio of longs to shorts is even higher than when it Continue Reading
The Next Winners From the Oil Rally
Oil prices may be “artificially Very High,” as Donald Trump alleged last week, but that hasn’t boosted an industry that should be a key beneficiary. On Monday morning Halliburton HAL Continue Reading
Hedge fund oil bulls on the rampage as bears vanish: Kemp
Hedge fund managers have never seemed so convinced that oil prices are set to rise rather than fall in the near term, according to the latest positioning data published by Continue Reading
High oil price not the albatross it once was for US economy
The global oil price is trading at its highest price in more than four years, and it seems that a number of additional price spikes are on the way, as Continue Reading
Iran switches from dollar to euro
The headquaters of the Central Bank of the Islamic Republic of Iran, in Tehran [file photo] Iran’s feud with the US is set to get worse after Tehran announced yesterday Continue Reading
OPEC’s Biggest Problem
A constant feature of the oil market is the prospect of unforeseen supply outages, whether from war, industrial accidents, sabotage, natural disasters or more mundane operational problems. These outages range Continue Reading
OPEC Strategy Bears Fruit As Oil Prices Break Out
In late 2016 OPEC engineered significant oil production cuts in order to address an oversupplied oil market. Global crude oil inventories had reached record highs, and the price of oil Continue Reading
Will Trump Come Out Swinging Against Saudi Oil?
After the roil in global oil markets between 2015 and 2017 sent oil prices tumbling from more than $100 per barrel in mid-2014 to below the $30 per barrel mark Continue Reading
Insurgents use intimidation to amplify influence
In the village of Fariq, southeast of Kirkuk, the militants of the self-proclaimed Islamic State (IS) group entered the local mosque with an air of casual confidence that shocked the Continue Reading
Russia eyes free trade with Iran
Russian Prime Minister Dmitry Medvedev signs an interim agreement that sets up a free-trade agreement with Iran. Both countries are facing increased U.S. economic pressures. Photo by Yuri Gripas/UPI April Continue Reading
Crude Wipes Out Losses as Arabian Peninsula Conflict Heats Up
Middle East tensions divert attention from metals-led rout Senior Houthi leader killed; Saudis intercept missiles Crude erased losses as escalating conflict in the Mideast region that’s home to almost half Continue Reading
‘Back-slider’ Iraq keeps oil export levels steady
Iraq reported March export levels were more or less on par with the average so far this year, which would suggest its compliance with an OPEC-led effort to balance the Continue Reading