Oil prices eased slightly on Thursday following a rally in the previous session, as investors eyed a surprise increase in U.S. crude oil inventories and looked to a possible rise Continue Reading
Gasoline is one of the products refined from crude oil . Thus, the price of crude oil should have a strong influence on the price of gasoline. However, the retail Continue Reading
With Brent Crude falling from its $80 height of last week, the American Petroleum Institute (API) reported a build of 1.001 million barrels of United States crude oil inventories for Continue Reading
Crude oil prices moved out of a steady decline early Wednesday on signs of lower U.S. supplies and Chinese growth, but U.S. GDP could change the picture. The price for Continue Reading
Oil prices declined by more than 6 percent in the last few trading days, following reports that OPEC and Russia could boost production in the second half of 2018. However, Continue Reading
Saudi Arabia, other OPEC states, and non-OPEC allies aim to stick to a global pact on cutting oil supplies until the end of 2018 but are ready to make gradual Continue Reading
Iran has asked OPEC to support it against new U.S. sanctions and signalled it is not yet in agreement with Saudi Arabia’s views on the possible need to increase global Continue Reading
France’s Total has 60 days to secure a waiver from the returning U.S. sanctions on Iran in order to stay in the multi-billion-dollar South Pars gas development project, Iran’s Oil Continue Reading
Amid current news headlines about North Korea and related nuclear issues, it is important not to ignore the potential schism that could occur in the G7 world as a consequence Continue Reading
For nearly a week, the oil market has been digesting reports that Saudi Arabia and Russia are considering bringing back some production to ‘ease market and consumer anxiety’ over high Continue Reading
There is a strategic interest emerging in oil from offshore Senegal, where a project can break even at $35 per barrel, the chairman of developer FAR Ltd. said. FAR is Continue Reading
Kenya took a step toward building an export pipeline from its oil fields to the port city of Lamu with the award of an early-phase design contract, Wood said. Oil Continue Reading
A natural harbor to the northwest of Cape Town keeps a secret that oil tracking professionals are still trying to uncover. The secret is exactly how much oil is in Continue Reading
Continuing a national trend, the United States’ second-largest oil refining company has recently requested a biofuel hardship waiver from the Environmental Protection Agency (EPA). The waiver, if granted, would allow Continue Reading
The huge discount of WTI Crude to Brent Crude has been supporting cheaper U.S. crude barrels bound for Asia, while West African cargoes, priced off dated Brent, have grown difficult Continue Reading
ExxonMobil Corp’s ( XOM.N ) global oil marketing team stormed into China this week hoping to elbow aside rivals and gain access to the nation’s “teapot” refining market, executives told Continue Reading
Exxon Mobil Corp’s chief executive said on Wednesday he hopes the new attorney general in New York “comes to a different conclusion” than predecessor Eric Schneiderman on a climate change Continue Reading
Canada’s decision to buy Kinder Morgan Canada Ltd’s Trans Mountain pipeline was brought about by a “particularly problematic” situation and is not a symbol of how things get done in Continue Reading
Preliminary data on crude oil production from the shale basins in Texas show a moderate increase from last year, a state regulator reported. The Texas Railroad Commission, the state energy Continue Reading
Canada’s purchase of Kinder Morgan Inc.’s embattled pipeline is good news for the oil patch, so long as it doesn’t become the norm. While the $3.5 billion Trans Mountain takeover Continue Reading
The U.S. shale surge is crashing headlong into a barrage of bottlenecks. From West Texas pipelines to Oklahoma storage centers and Gulf Coast export terminals, the delivery system for American Continue Reading
Last year the fracking company Halcón Resources announced a new strategy that was sold as the path to profits for the previously troubled shale oil and gas firm. The company Continue Reading
Malaysia’s Petronas said on Thursday it had agreed to buy a 25 percent stake in the LNG Canada project. Petronas will buy the equity stake in the project in British Continue Reading
In a desperate bid to keep its last remaining proposed oil pipeline alive, Canada has decided to buy Kinder Morgan’s Trans Mountain Pipeline system for an estimated C$4.5 billion. Canada Continue Reading
Bakken crude differentials for delivery in July rose sharply Wednesday to multi-month highs, flipping to a premium to the NYMEX WTI calendar-month average amid further widening Brent-WTI crude spreads, with Continue Reading
Pipeline bottlenecks in the Permian Basin are hurting prices for cash-strapped producers Bob Watson said his company is in the process of selling its Eagle Ford land, which totals more Continue Reading
Wireless charging is finally making its way to market as an energy source for electric vehicles, with BMW readying to start production in July for release by the end of Continue Reading
Electric vehicle sales are finally starting to take off in larger numbers, surpassing 1 million in 2017 after growing 56 percent from a year before. By 2020, sales are expected Continue Reading
Russia would be able to raise its oil output back to pre-cut levels within months if there is a decision to unwind the price-protection deal with OPEC and other producers, Continue Reading
Oil slipped towards $75 a barrel on Wednesday, under pressure from expectations OPEC and its allies will pump more and as Italy’s political crisis increased investors’ aversion to risk. A Continue Reading
U.S. oil prices extended their recent declines Tuesday, with some investors still worried about the impact of higher supply with two of the world’s largest producers nearing an agreement to Continue Reading
Oil prices are trading at levels not seen since late 2014, defying what is often a considerable obstacle to crude and other commodities rallying: a stronger dollar. A firmer greenback Continue Reading
Electric vehicles will displace 2.5 million b/d of oil demand by 2030 on the back of increasing sales of EVs in all major car markets amid support from government policy Continue Reading
Higher oil prices seem to have given OPEC the confidence that it needs to begin thinking about moving forward, and with Russia in the mix as well, it appears as Continue Reading
OPEC probably won’t decide in June to bring back more oil supply, because the cartel and its allies will be watching the ongoing geopolitical events that could impact broader global Continue Reading
With its pristine beaches, manicured lawns and rows of newly built villas, the King Abdullah Economic City bears all the hallmarks of the modern Saudi Arabia envisaged by Crown Prince Continue Reading
Just as the Saudis and Russia are said to be considering bringing back some production to address supply concerns, the energy ministers of Saudi Arabia, Kuwait, and the United Arab Continue Reading
India will continue importing Iranian crude despite U.S. sanctions, India’s Foreign Minister Sushma Swaraj said ahead of a meeting with her Iranian counterpart Mohammad Javad Zarif. Swaraj said, as quoted Continue Reading
French oil major Total has two months to seek exemption from U.S. sanctions after Washington’s withdrawal from the international nuclear deal, Iran’s oil minister told state news agency SHANA on Continue Reading
Lebanon’s search for its first oil and gas reserves began on Tuesday after authorities approved an exploration plan submitted by a consortium of France’s Total, Energy and Water Minister Cesar Continue Reading
Following disruptions of the oil flows on the pipeline feeding the Forcados terminal in Nigeria, the facility faces more than two weeks of delays of oil cargo loadings, and no Continue Reading
A coalition of militant groups in Niger Delta, the Joint Revolutionary Council, has threatened to resume hostilities, if the Federal Government fails to address the problems in the region. JRC Continue Reading
Amid much (obligatory) fanfare, Turkmenistan has intensified its spin campaign on TAPI, the long-delayed pipe dream of President Gurbanguly Berdymuhamedov which is supposed to supply Afghanistan, Pakistan and India with Continue Reading
Brazil’s president cuts diesel prices in an effort to bring striking lorry drivers off the picket line. File Photo by Stephen Shaver/UPI May 29 (UPI) — The price of diesel Continue Reading
SAO PAULO (Reuters) – Brazilian oil workers planned a 72-hour strike starting on Wednesday, despite a court order, in a new blow to President Michel Temer and an economy reeling Continue Reading
French oil major Total said on Wednesday that its plans to drill in the ecologically sensitive Foz do Amazonas basin were still alive, despite Brazil’s decision to reject its drilling Continue Reading
Cuba’s Cienfuegos oil refinery has sustained damage due to flooding after heavy rainfalls from subtropical depression Alberto, sending an unspecified amount of crude oil into the Cienfuegos Bay. Barriers were Continue Reading
At least five independent refineries in Shandong, China’s northern province, have been ordered to cut operating rates as Beijing aims for blue skies for a regional summit in port city Continue Reading
The Trump administration sent a sudden, harsh message to its Chinese counterparts on Tuesday morning, saying the U.S. was moving forward with its threat to apply tariffs on Chinese imports Continue Reading
The Trump administration said it would proceed with tariffs on $50bn in Chinese imports and broader investment restrictions, rebooting a trade war with Beijing that it claimed was “on hold” Continue Reading
