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Month: May 2018

Category:
  • Prices

Oil prices ease after sharp gains; eyes on OPEC supply moves

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Prices

How crude-oil prices influence gasoline prices

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Steady After API Reports Crude Build, Gasoline Draw

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Prices

Demand signals pull oil prices higher

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Prices

Goldman: The Oil Price Rally Isn’t Over Yet

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • OPEC
  • Saudi Arabia

OPEC, non-OPEC sticking to oil pact but may raise output if needed: Gulf source

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Iran
  • OPEC

Iran seeks OPEC support against U.S. sanctions: letter

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Iran

Iran: Total Has 60 Days To Seek U.S. Sanctions Waiver

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Iran
  • USA

US Sanctions On Iran: The Unraveling Of Pax Americana

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Iran

The Iran Indicator Oil Markets Are Ignoring

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Senegal

Senegal’s oil has good break-evens

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Kenya

Kenya closer to building an oil export pipeline

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • South Africa

The World’s Emerging Oil Storage Hub

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Biofuels
  • USA

U.S. Oil Companies Look To Skirt Biofuel Quotas

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Prices

Cheaper U.S. Crude Oil Beats West Africa Crude Shipments To Asia

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • China
  • USA

Exclusive: Late to teapot party, ExxonMobil breaks with tradition in wooing China’s oil market

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Climate
  • USA

Exxon CEO urges New York prosecutor to rethink climate change probe

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Canada

Canada finance minister defends Trans Mountain purchase

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Shale Oil

Texas oil production higher, but data are mixed

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Canada

Trudeau’s Pipeline Takeover Is Bittersweet Win for Oil Sands

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Shale Oil

Shale Surge Crashes Into Bottlenecks From Pipelines to Ports

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Shale Oil

Flip This Well: How Fracking Company CEOs Get Rich While Losing Billions

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Canada
  • Pipelines

Malaysia’s Petronas to take 25 percent stake in LNG Canada

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Canada
  • Pipelines

The Oil Giant That Outsmarted Trudeau

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Prices
  • Shale Oil

Bakken crude differentials soar on widening Brent-WTI spread

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Shale Oil

It’s Getting Tough for Smaller Drillers

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Electric Cars

Wireless Charging Is The Future Of EVs

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Electric Cars

EV Sales To Triple By 2020

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Oil Supply
  • Russia

Russia has potential for oil output hike within months

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

Posted On : 31 May 2018 Published By : Tom Whipple
Category:
  • Prices

Oil slips towards $75 as threat of OPEC boost weighs

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Prices

U.S. Oil Prices Fall as Supply Worries Linger

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Prices

For Oil Prices, Political Risks Dwarf the Dollar

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Electric Cars

Electric vehicles to displace 2.5 million b/d of oil demand by 2030: IEA

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • OPEC

OPEC Has Regained Its Grip On Oil Markets

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • OPEC

OPEC Unlikely To Open The Oil Taps In June

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Arabia’s sleepy city offers prince a cautionary tale

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • OPEC

Saudi Arabia, UAE, Kuwait To Discuss OPEC Plans On June 1

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • India
  • Iran

India Will Buy Iranian Crude Despite U.S. Sanctions

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Iran

Iran says Total has two months to seek U.S. sanctions exemption

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Lebanon

Lebanon begins offshore oil and gas exploration

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Nigeria

Nigerian Oil Terminal Delays Add To Supply Concerns

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria: Niger Delta Militants Threaten Fresh Hostilities, Accuse Govt of Neglect

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Turkmenistan

Turkmenistan’s Natural Gas Dilemma

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Brazil

Brazil cuts fuel prices amid strikes

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Brazil

Brazil oil workers plan strike in new blow to government, economy

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Brazil

Oil major Total says Foz do Amazonas project still alive despite Brazil rejection

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • Cuba

Cuban Oil Refinery Flooded, Oil Spills Into Bay

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • China

China’s teapot refineries ordered to cut runs as port readies for summit

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • China

U.S. Moves Ahead on China Trade Curbs, Catching Beijing Off-Guard

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

Posted On : 30 May 2018 Published By : Tom Whipple
Category:
  • China

White House reboots China trade war with tariffs announcement

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

Posted On : 30 May 2018 Published By : Tom Whipple

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