Can Saudi Arabia Afford Its Megaprojects?
Most headlines with “Saudi Arabia” in them seem to feature a hefty sum of money. A US$500-billion smart city here, a US$200-billion solar project there–it’s beginning to look like Saudi Continue Reading
Nigeria: It’s Official – Nigeria Has No Authentic Data On Petrol Consumption
Although Nigeria is Africa’s largest oil producer, it is also one of the continent’s largest importer of refined petroleum products. However, despite being a net importer of refined petroleum products, Continue Reading
Nigeria: How Nigeria Can Lower Oil Production Cost to $6/Barrel
Gbenga Onadeko is the Senior Vice President, Africa, for Welltec. In this interview, he speaks on how technology can drive down Nigeria’s cost of oil production from $20 to $6 Continue Reading
China shale gas progressing, but work remains
China’s shale natural gas production is accelerating fast, costs are moving lower, but the situation is still not comparable to the U.S. boom, analysis finds. Consultant group Wood Mackenzie expects Continue Reading
China To Double Shale Gas Output
In a note released yesterday and cited by Reuters, Wood Mac said China will add almost 700 new wells by 2020 at three large fields, two of them operated by Continue Reading
Ultra-light crude demand far outpacing supply in Asia
Asian refiners and petrochemical companies have started to cautiously monitor China’s downstream industry in recent weeks, as the upcoming restart of a giant petrochemical complex in Fujian province could further Continue Reading
Alberta Readies Oil Embargo in Kinder Pipeline Battle
Alberta introduces law allowing it to cut exports to B.C. Premier Notley confident province won’t need to use new power Barbed wire fencing stands at the Kinder Morgan Inc. Trans Continue Reading
Alberta stands up to British Columbia over Trans Mountain
In a shot across the bow of its western neighbor, Alberta’s provincial government said it proposed legislation that could block cross-border oil and gas flows. A consortium led by pipeline Continue Reading
Rising fuel costs erode benefits of Trump tax cut
Tim Rogus, a retired publisher in suburban Chicago, has noticed fuel prices at the petrol station creeping up towards $3 a gallon, as oil has rebounded to four-year highs this month, Continue Reading
U.S. natural gas production and consumption increase in nearly all AEO2018 cases
EIA’s Annual Energy Outlook 2018 (AEO2018) projects that U.S. dry natural gas production will increase through 2050 across a wide variety of alternative assumptions about the future. In the Reference Continue Reading
BP Teams Up With Tesla In Energy Storage Project
One of the world’s biggest oil industry supermajors has teamed up with the global leader in electric cars in a new business venture and pilot project. British Petroleum (BP) has Continue Reading
Oil Cutoff Threatened as Canada Provinces Feud Over Pipeline
Canada’s internal fight over Kinder Morgan Inc.’s Trans Mountain pipeline escalates. (Bloomberg) — Canada’s internal fight over Kinder Morgan Inc.’s Trans Mountain pipeline escalated as the nation’s top two oil-producing Continue Reading
Canada’s Oil Patch To Turn Profitable In 2018
Canada’s oil patch booked three consecutive years of hefty losses after the oil prices crash in 2014. This year, the industry is set to post a very slim gross profit—the Continue Reading
A Natural Gas Giant Like No Other
A Houston-based LNG company is hoping to chart a course that hasn’t really been tried before: owning upstream natural gas assets, building the pipelines to get the gas to port, Continue Reading
No luck in latest North Sea oil and gas search
A drilling facility in the Norwegian waters of the North Sea is moving on to frontier territory after coming up empty-handed, a partner in the effort said. Regional explorer Aker Continue Reading
Shell Advises Shareholders To Reject Binding Climate Resolution
Royal Dutch Shell has recommended that its shareholders vote against a climate resolution that an activist climate group wants passed at the annual general meeting next month. Dutch climate group Continue Reading
The Bullish And Bearish Case For Oil
Geopolitical events specifically could help keep Brent above $70 through April and May, which comes on the back of a substantial decline in oil inventories. The investment bank significantly tightened Continue Reading
Oil prices rise amid risk of supply disruptions
SINGAPORE (Reuters) – Oil prices rose on Tuesday amid worries there could be a high risk of disruptions to supply, especially in the Middle East. FILE PHOTO: Oil pumping facilities Continue Reading
Oil Slips As U.S. Scales Back Confrontation With Russia
The U.S.’ declaration that the overnight missile strikes against Syria would be limited and a “one-time shot” may tamp down some of the risk to oil prices spiking when markets Continue Reading
Key oil market updates
While the oil market continues to focus on supply/demand fundamentals, these are some key updates that you need to keep a tab on, U.S. oil rig count: The United States Continue Reading
JP Morgan: Oil Prices Won’t Go Higher Than $70
Oil prices at $70 may be the top of the range in the price of oil that we’re going to see over the next few years, David Kelly, chief global Continue Reading
With escalations in the East, is oil about to jump?
The days of high production versus low demand will be in recess this quarter as tensions grow. Escalating conflict between the various sides of the Syrian Civil War threatens increasing Continue Reading
Syrian risk premium fades from the price of oil
The risk premium for the price of oil from international conflict has faded temporarily as traders look back at accelerations in the U.S. energy market. File Photo by Brian Kersey/UPI Continue Reading
EU Support Grows for New Iran Sanctions
European Union diplomats said there is growing support for imposing new sanctions on Iran as they seek to persuade President Donald Trump to stick by the 2015 nuclear deal between Tehran and Continue Reading
Can The World’s Most Profitable Company Justify Its Valuation?
One of the best kept secrets in oil over the past decades has been how much money Saudi oil giant Aramco has been making from extracting what’s probably the lowest-cost Continue Reading
Kuwait: OPEC May Discuss Extending Oil Cut Deal In June
OPEC and allies will keep the oil production cuts through the end of 2018, and will discuss at their June meeting whether to extend those cuts further, Kuwait’s Oil Minister Continue Reading
West Africa emerging as LNG player
British energy company BP is moving ahead with development of a liquefied natural project off the West African coast with early design work, a contractor said. French services company TechnipFMC Continue Reading
Sudan: Inflation Hits 55.60 Percent in March – Public Transport ‘Almost Unaffordable’
According to Sudan’s Central Bureau of Statistics, the inflation rate in the country in March reached 55.60 percent; up from 54.34 percent in February. Public transport prices nearly doubled last Continue Reading
Under military rule, Venezuela oil workers quit in a stampede
Chauffeured around in a sleek black pick-up, the head of Venezuela’s oil industry, Major General Manuel Quevedo, last month toured a joint venture with U.S. major Chevron. FILE PHOTO: A Continue Reading
Ecuadorians Challenge Chevron Over $9.5B Award In Canadian Court
Ecuadorian farmers and indigenous people will seek to show an Ontario Court of Appeal this week that Chevron Canada is legally liable for a US$9.5-billion award that the Ecuadorians won Continue Reading
Nigeria’s Crude Oil Production Lags Budget Benchmark By 277,000 Bpd
Nigeria’s crude oil production stood at 2.022 million, bpd in March, 277,000 bpd below the 2.3 million bpd benchmark for budget 2018, indicating, the country is still struggling to step Continue Reading
OPEC defends oil industry in India
The legacy of oil refining in India, one of the world’s largest economies, shows the industry can develop with little risk to the climate, OPEC’s leader said. Mohammad Barkindo, the Continue Reading
China March refinery runs hit record; crude output near multi-year low
Chinese refineries processed a record of more than 12.1 million barrels per day (bpd) of crude oil in March, boosted by ample government import quotas and steady margins. The world’s Continue Reading
China’s first quarter growth beats expectations at 6.8%
China’s economy grew at an annual pace of 6.8% in the first quarter compared to the same period last year, according to official data, beating forecasts for the period. The growth Continue Reading
U.S. shale output to rise by 125,000 bpd in May -EIA
U.S. shale oil production is expected to increase in May for the fourth consecutive month, U.S. Energy Information Administration data showed on Monday, boosted by record production in the prolific Continue Reading
Drilling Productivity Report
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
First Commercial LNG Cargo From US East Coast Hits the Seas
The first export of natural gas from the U.S. East Coast has set sail. Dominion Energy Inc.’s Cove Point terminal in Maryland shipped its first commercial cargo of liquefied natural Continue Reading
Want the Gas? Buy the Company! A New Way to Finance US LNG
(Bloomberg) — After amassing billions in debt and pushing a bold spending plan, Charif Souki was fired in 2015 by the liquefied natural gas company he founded. Now heading a Continue Reading
Alberta readies to cut B.C. fuel shipments in Canada pipeline row
Canada’s Alberta province on Monday edged closer to cutting off fuel shipments to neighboring British Columbia in an escalation of a row over the stalled C$7.4 billion ($5.9 billion) expansion Continue Reading
Higher petrol prices hit US consumer finances
Tim Rogus, a retired publisher in suburban Chicago, has noticed fuel prices at the petrol station creeping up towards $3 a gallon, as oil has rebounded to four-year highs this Continue Reading
Is Trump’s Offshore Drilling Plan A Disaster?
The Trump administration has had to rein in expectations for offshore oil drilling, with an aggressive sales pitch and boastful rhetoric mostly being met with tepid interest from the oil Continue Reading
Shell defends climate strategy in clash with investors
Royal Dutch Shell defended its ambition to cut carbon emissions on Monday, urging investors to oppose a shareholder resolution arguing that the oil and gas giant is not doing enough Continue Reading
New Sanctions On Russia Could Lift Oil Prices Further
Crude oil prices started the week with a drop of about one percent as traders were still watching what happens in Syria next and despite the announcement that Washington will Continue Reading
Germany ups pressure on car industry to invest heavily in EVs, batteries
Germany’s government is increasing pressure on its car makers to invest heavily in electric cars as well as battery production in Europe to safeguard jobs in Germany during a rapid Continue Reading
Russian Oil Production Is About To Peak and Start Declining in the Near Future
According to Finanz, with reference to the International Energy Agency, Russia has been benefitting from its oil production and export for decades. However, this is about to change in the Continue Reading
Norway To Create Thousands Of Jobs In Arctic Oil
When Statoil struck oil in what is now the Johan Castberg field back in 2011, nobody expected that just three years later, oil prices would plummet and the Norwegian energy Continue Reading
BP To Keep Greenhouse Gas Emissions Steady, Environmentalists Unimpressed
BP is making preparations for a lower carbon future, and is keeping its greenhouse gas emissions either at or below the levels it saw in 2015, according to a new Continue Reading
Crude oil futures lower on profit taking, US rig count rise
Crude oil futures were lower in mid-afternoon trade Asia Monday as investors booked profits after the air strikes on Syria led by the US, UK, and France. Market participants were Continue Reading
Oil markets tense after western strikes on Syria, rising U.S….
Oil fell more than 1 percent on Monday as markets opened following western air strikes in Syria over the weekend, while a rise in U.S. drilling for new production also Continue Reading
US ‘one-time shot’ against Syria reduces risk of oil price hike
Early morning trade in Asia saw crude oil futures slipping from last week’s 3.5-year high, after the US said that the missile strikes against Syria were a ‘one-time shot.’With Syria Continue Reading