U.S. Rig Count Increases Sharply Amid Rising Crude Output
US drillers added 13 rigs to the number of oil and gas rigs this week, according to Baker Hughes, adding 10 active oil rigs and 3 active gas rigs. The Continue Reading
Defense and energy can co-exist offshore, industry says
Oil and gas operations in parts of the U.S. Gulf of Mexico can coexist with national defense priorities, industry supporters said of a Pentagon review. The U.S. Department of Defense Continue Reading
Trump to propose sweeping changes to U.S. biofuel policy: source
The Trump administration will propose sweeping changes to the nation’s biofuel policy, including expanding it to exports and cutting the number of waivers for small refineries, a source briefed on Continue Reading
U.S. drillers add oil rigs for sixth consecutive week: Baker Hughes
U.S. energy companies added oil rigs for a sixth week in a row as crude prices continue to soar to multi-year highs after new sanctions on Iran are anticipated to Continue Reading
EEStor Capacitor Technology Expected to Disrupt Pricing in Renewable Energy Market
EEStor Corporation has developed a hybrid capacitor dielectric material (glass-CMBT) that is shown in independent third-party testing to provide higher permittivity at a significantly reduced cost to existing capacitor technologies Continue Reading
Germany proposes consortium to protect Ukraine from Nord Stream losses
PALANGA, Lithuania (Reuters) – Germany has proposed setting up some sort of consortium to ensure that Ukraine retains its role as a transit country for Russian gas once the Nord Continue Reading
Russia To See Oil Revenues Jump Fivefold
Due to the oil price rally, Russia expects its oil and gas revenues to jump fivefold compared to the expected revenues set in its 2018 budget, according to the Finance Continue Reading
Oil near multi-year highs as Iran sanctions tighten supply outlook
Oil prices steadied near 3-1/2 year highs on Friday as the prospect of new U.S. sanctions on Iran tightened the outlook for the Middle East supply at a time when Continue Reading
Crude Prices Set New 3-Year High in Wake of Iran Sanctions
Oil prices settled at their highest in more than three years Thursday, with the U.S.’s withdrawal from the Iran nuclear agreement continuing to reverberate across markets. Light, sweet crude for Continue Reading
Oil: Deficit to put market on the offensive – Deutsche Bank
Deutsche Bank’s Michael Hsueh noted the possibility of a 2019 oil market deficit could soon put the oil market on the offensive, unless OPEC intervention begins to compensate for growing Continue Reading
IEA Chief: High Oil Prices Could Harm Producers In The Long Term
Oil prices higher than the current levels may not be good news for major oil producers in the medium and long term, as consumers will seek alternatives to refined oil Continue Reading
Citing geopolitical risk, U.S. raises oil price forecast
A forecast for a $7 per barrel increase in the average price for oil this year was made before the U.S. left the Iranian nuclear deal, the government said. In Continue Reading
Bank Of America: Oil Prices Could Hit $100 Next Year
Strong global oil demand growth, quickly falling inventories, and geopolitical issues from Iran to Venezuela could push oil prices to as high as $100 a barrel in 2019, Bank of Continue Reading
Oil Markets Tremble On Iran, Israel Flare-Up
Brent crude briefly jumped above US$77 a barrel today after a flare-up of tensions in the Middle East and an exchange of strikes between Iranian forces in Syria and the Continue Reading
U.S. sanctions Iran currency network after Trump pulls out of nuclear deal
The U.S. Treasury imposed sanctions on Thursday against six individuals and three companies it said had funneled millions of dollars to the Iranian Revolutionary Guard’s elite Qods Force, just days Continue Reading
Iran says U.S. exit from nuclear deal will not have any impact on its oil
Iranian Oil Minister Bijan Zanganeh said on Thursday that U.S. President Donald Trump’s decision to quit a multinational nuclear deal would not affect Tehran’s oil exports. “Trump’s decision will not Continue Reading
There may be some oil ‘wiggle room’ on Iran
Though as much as 1 million barrels per day could be limited with the U.S. pullout of the Iranian deal, there could be some wiggle room, analysis found. White House Continue Reading
U.S. Raises Pressure on Iran With Sanctions on Currency Exchange
The U.S. took a step toward cutting Iran off from the global economy on Thursday, levying sanctions on a financing network and accusing the country’s central bank of helping funnel Continue Reading
Buyers Seek US Waivers to Buy Iranian Oil Amid New Sanctions
South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. Continue Reading
U.S. diplomats face tough task imposing new Iran oil curbs
By restoring sanctions against Iran, U.S. President Donald Trump has tasked a little-known State Department office with convincing companies and governments worldwide to cut imports of Iranian crude – even Continue Reading
How Much Iranian Oil Can Trump Disrupt?
Trump did not offer any new justification for how Iran was violating the nuclear accord – the IAEA confirmed on May 9 that Iran is in compliance with its nuclear Continue Reading
Iran Upbeat About Oil Exports Despite Sanction Threat
Iran is confident that its oil exports will not be disrupted by the re-imposition of sanctions after the United States vowed to withdraw from the Nuclear Deal, according to Iranian Continue Reading
Analysis: US expected to take hard line on Iran oil import cuts
The Trump administration will likely grant Iranian crude buyers less leeway from sanctions that snap back in November than the Obama administration granted in 2012-15, but an oil price spike Continue Reading
Riyadh offers oil assurances after U.S. walkout on JCPOA
With the United States reneging on the Iranian nuclear deal, Saudi Arabia is committed to ensuring oil market stability, its energy ministry said. “I do not believe that continuing to Continue Reading
More gas coming from mega field offshore Egypt
Natural gas production from the largest field ever discovered off the coast of Egypt is on pace for a 9 percent increase in output, Italy’s Eni said Thursday. Eni said Continue Reading
Iraq’s oil sector faces delays and reshuffle after elections
Iraqis go to the polls Saturday in a general election which could reshape its oil ministry and delay output expansion projects in OPEC’s second-largest member. With no political bloc expected Continue Reading
Nigeria oil production rebounds to 2.07 million b/d in April
Nigeria’s oil production rebounded to 2.07 million b/d in April this year, after it slipped to 2.02 million b/d in the preceding month, according to estimates released Thursday by the Continue Reading
Sudan: Fuel Crisis Protest in Capital of Sudan’s El Gezira
Hundreds of residents took to the streets of the Geziratelfil district of Wad Madani, capital of El Gezira, on Tuesday evening to demonstrate in protest against the fuel crisis, rise Continue Reading
Venezuela suggests ready to pay after Conoco moves on its Caribbean assets
Venezuela on Thursday rejected ConocoPhillips’s moves to seize the country’s Caribbean assets to collect on a $2 billion arbitration award, but in a sign the U.S. oil company’s pressure might Continue Reading
The Demise Of Petrocaribe
Petrocaribe was a mechanism created in 2004 under the sponsorship of former Venezuelan President Hugo Chavez, allegedly to promote energy cooperation and integration between Venezuela and a number of states Continue Reading
The Oil Major Accelerating Venezuela’s Decline
While the oil market is understandably on edge about the potential supply outages in Iran, there are real outages going on in Venezuela, losses that could grow significantly worse in Continue Reading
India Is The Best Bet For National Oil Companies
The prospect of peak oil demand is a threat to oil companies around the world, but a much more serious threat to national oil companies, who are responsible for keeping Continue Reading
China’s CNPC ready to take over Iran project if Total leaves: sources
China’s state-owned energy major CNPC is ready to take over Total’s stake in the giant Iranian South Pars gas project if the French company leaves amid newly announced U.S. sanctions, Continue Reading
China raises retail gasoline, diesel price: state planner
China will raise the retail price of gasoline by 170 yuan ($26.85) per tonne and that of diesel by 165 yuan per tonne from Saturday, the country’s state planner said Continue Reading
Higher gas prices could spoil Trump’s tax cuts
Americans are shelling out more money at the gas pump just as the summer driving season is about to heat up. Soaring crude oil prices have lifted national gasoline prices Continue Reading
Texas oil drilling permits rose 34 percent in April
Texas’s energy regulator issued a third more oil and gas drilling permits in April than a year ago, according to data released on Thursday, as higher prices continue to spur Continue Reading
Alaska rolls out draft climate policy
State residents should review a draft climate plan that balances the need for oil and gas revenue against environmental issues, Alaska’s governor and lieutenant governor said. Alaska Gov. Bill Walker Continue Reading
Heart of America’s Oil Boom Can’t Fetch Good Prices for Its Crude
The main U.S. oil benchmark, West Texas Intermediate, has soared to its highest level in years at $71 a barrel. Good luck getting that price in west Texas. In the Continue Reading
Trump Administration Irked With Car Makers on Fuel-Economy Policy
The leaders of the world’s biggest car companies are arriving at the White House on Friday, and it may be their last chance to stop the Trump administration from a Continue Reading
Trump White House axes Nasa research into greenhouse gas cuts
Mr Trump has repeatedly threatened funding cuts to Nasa’s climate science and missions President Donald Trump’s administration has quietly axed US space agency Nasa’s monitoring system into greenhouse gases, a Continue Reading
Coal Is Losing Ground Despite Trump’s Promises
Say what you will about Donald Trump, but he has been keeping his promises. He promised to revive the fossil fuel industry and he has been doing his best—as he Continue Reading
Energy Storage Gains Washington’s Support
When Secretary of Energy Rick Perry announced US$30 million in funding for energy storage projects at the beginning of this month, he drew praise from renewable energy-focused media as the Continue Reading
ETP Plans 600,000 Bpd Oil Pipeline From Permian To Texas Coast
Energy Transfer Partners said on Thursday it plans to build a crude pipeline from the Permian basin in Texas to the Houston Ship Channel and Nederland, Texas, which will have Continue Reading
Permian Bottleneck Provides Huge Opportunity For Oil Traders
Oil production in the fastest-growing U.S. shale play, the Permian, continues to boom, while takeaway capacity has not kept up. Pipeline availability issues have led to a major discount on Continue Reading
MCI J4500e electric coach prototype reaches highway speed and reliability targets in test runs; on sale in 2020
Motor Coach Industries (MCI), the US subsidiary of New Flyer Industries Inc. (NFI Group), the largest transit bus and motor coach manufacturer and parts distributor in North America, announced that Continue Reading
Oil set for biggest weekly rise in a month as Iran sanctions loom
The oil price rose on Thursday and was set for its largest weekly increase in a month, as the market prepared for potential disruption to crude flows from major exporter Continue Reading
Goldman: Oil Prices To Hit $82.50 By The Summer
Increased geopolitical tensions in the Middle East, plunging Venezuelan production, and now the U.S. withdrawal from the Iran nuclear deal could push Brent Crude prices to $82.50 a barrel by Continue Reading
Oil jumps 3 percent after U.S. quits Iran deal, U.S. stock drawdown
Oil prices rose about 3 percent on Wednesday and hit fresh 3-1/2 year highs after a bigger-than-expected drawdown in U.S. oil inventories extended gains from the United States’ decision to Continue Reading
Oil market points to ‘tighter for longer’ as Trump ditches Iran deal
Oil shot to nearly $80 a barrel this week after U.S. President Donald Trump walked away from the Iran nuclear deal and the futures market structure shows investors are preparing Continue Reading
U.S. Pullout From Iran Nuclear Deal May Unsettle Oil Markets
President Trump’s decision to withdraw from the Iran nuclear deal has so far had no more than a muted effect on oil and gasoline prices. But that could easily change. Continue Reading