Shell has closed an underwriting agreement with a group of investment banks for the sale of its 8-percent interest in Canadian Natural Resources for about US$3.3 billion, the company said Continue Reading
U.S. crude oil production is expected to rise more than previously expected to 12 million barrels per day by the fourth quarter of 2019, the U.S. Energy Information Administration said Continue Reading
With benchmark US crude prices crossing the $70 a barrel threshold, the shale drillers who helped upend global markets now face a new challenge. (Bloomberg) — For the oil industry, Continue Reading
U.S. shale is growing so quickly that it is presenting new challenges for refiners. The quality and type of the oil mix, particularly in the U.S., is changing because of Continue Reading
U.S. President Donald Trump’s new ambassador to Germany, Richard Grenell, said on Twitter that German firms operating in Iran should halt activities there immediately after Trump announced the United States Continue Reading
Russia has exported less crude oil to Europe this year as the quality of the fuel on offer deteriorated and tense diplomatic relations prompted it to redirect more volumes to Continue Reading
In a market transitioning in a low-carbon way, German utility E.ON said Tuesday that its renewable energy segment saw earnings rise 7 percent. Adjusted net income for the first quarter Continue Reading
It is well-established that Russian trolls attempted to sow discord during the latest U.S. presidential election. But a recent report from the House Science, Space and Technology Committee has charged Continue Reading
The West-Russia relations have reached a new low since the Cold War amid the spy poisoning scandal in the UK, allegations of Russian meddling in elections, and fresh U.S. sanctions Continue Reading
US crude oil prices have slipped back after strong gains as the White House prepared to announce a decision on whether it will withdraw from the Iran nuclear deal. US Continue Reading
US crude oil prices have pushed above $70 a barrel for the first time in over three years as concerns have grown over supplies from Iran and Venezuela. West Texas Continue Reading
Oil prices rose for the fourth straight day on Monday to hit levels not seen since late 2014, boosted by the latest trouble for Venezuelan oil company PDVSA and the Continue Reading
WTI just hit $70 per barrel for the first time since late 2014. Prices continue to edge higher, pushed along by strong demand and falling inventories. But it is the Continue Reading
Iranian Oil Minister Bijan Zangeneh said on Sunday that Tehran preferred a “reasonable” crude oil price to avoid market instability, the ministry’s news agency Shana reported. Zangeneh said that reasonable Continue Reading
Iran is readying the first commercial exports of its West Karoun crude oil grade for May or June, two sources familiar with the matter said, even as fresh economic sanctions Continue Reading
Iraq’s state-run North Oil Company signed an agreement with BP on Monday to triple output from the Kirkuk fields in the north of the country, Oil Minister Jabar al-Luaibi said. Continue Reading
The Iranian oil industry will continue to develop even if the United States pulls out of the 2015 nuclear deal, and Tehran would see the accord as operational as long Continue Reading
The Chinese vessel that hit an Iranian oil tanker in January failed to respond to concerns about its course, an Iranian-led investigation found. The Iranian oil tanker Sanchi was carrying Continue Reading
Iran’s president said his country would fiercely resist efforts to contain its regional influence as President Donald Trump weighs withdrawing from the nuclear deal , a scenario that threatens to Continue Reading
Last week the chief executive of Saudi Arabia’s stock exchange Tadawul tried to reassure potential investors in Aramco that the bourse will cap the weight of the oil company in Continue Reading
Houthi rebels in Yemen claim to have fired two ballistic missiles toward an oil facility in the southern Saudi city of Jizan, close to the border with Yemen, Houthi-controlled Saba Continue Reading
Algeria plans to raise its budget expenditure by 6 percent this year to capitalize on the higher oil prices ahead of presidential elections next year, but economists warn that boosting Continue Reading
A powerful airstrike by Saudi-led coalition hit the headquarters of the presidential office in the Yemeni capital Sanaa on Monday, targeting a secret meeting of Iranian-allied Shiite Houthi leaders and killing Continue Reading
The Oil Ministry has expanded the scope of its Kirkuk deal with BP to include major oil assets currently managed by the autonomous Kurdistan Regional Government (KRG) – adding a Continue Reading
Saudi Arabian Energy Minister Khalid al-Falih said on Monday he was concerned about possible shortages of spare crude oil output capacity, although he believes the market is in better shape Continue Reading
Saudi Arabia would supply Sudan’s energy needs for five years on credit under an agreement being discussed by both governments, Sudan Oil Minister Abdulrahman Othman said on Monday. Othman said Continue Reading
ConocoPhillips is expected to renew an effort to temporarily seize Venezuela’s PDVSA oil inventories at the 335,000-barrel-per-day Isla refinery in Curacao in the coming days, sources close to the state-run Continue Reading
ConocoPhillips has received court attachments for freezing the assets of Venezuelan PDVSA at two Caribbean facilities and might go on to sell them, Reuters reports , citing sources close to Continue Reading
State-owned Indian Railways carried 50.32 million mt coal during April, up 18% year on year, data released by the Directorate of Statistics and Economics on Tuesday showed. Of the total, Continue Reading
As the developed world moves farther and farther away from coal-fired energy, one major economy is breaking the trend. Japan, in a move that few could have foreseen, has opened Continue Reading
For the oil industry, $70 offers a test of wills. With benchmark U.S. crude prices crossing the $70 a barrel threshold on Monday, the shale drillers who helped upend global Continue Reading
For the oil industry, $70 offers a test of wills. With benchmark U.S. crude prices crossing the $70 a barrel threshold on Monday, the shale drillers who helped upend global Continue Reading
U.S. crude stockpiles were seen declining last week after rising for two straight weeks, and refined product inventories also likely fell, a preliminary Reuters poll showed on Monday. Five analysts Continue Reading
Most of the oil coming from U.S. shale basins will find its way out of the domestic market and into the Asian and European economies, analysis finds. The U.S. federal Continue Reading
Preliminary Monthly Electric Generator Inventory EIA expects nearly 32 gigawatts (GW) of new electric generating capacity will come online in the United States in 2018, more than in any year Continue Reading
From a grassy hilltop in western Maryland, a high-tech spying operation tracks the source of pollution and ozone coming into the state. State regulators use such automated air-monitoring stations to Continue Reading
U.S. oil production recently broke another record, jumping to 10.619 million barrels per day (mb/d) in the last week in April, and the sky seems to be the limit for Continue Reading
With higher oil prices, the Russian economy is more stable and spinning value into real incomes for its people, President Vladimir Putin told government employees. Putin spoke to government employees Continue Reading
German utility E.ON said it will build up its wind energy portfolio by taking over the domestic activities of wind-power company Vortex Energy. E.ON said it’s targeting a takeover of Continue Reading
Russian President Vladimir Putin began his fourth term on Monday with an unexpected weapon in his arsenal against Western sanctions: higher oil prices. The price of oil is the highest Continue Reading
Although some companies have learned to ride the waves of geopolitics quite efficiently, still in most cases political tensions only complicate the dealings of energy companies. The Skripal poisoning case Continue Reading
Oil rose to its highest level since late 2014 in Asia-Pacific trading amid rising tension between the US and Iran. Meanwhile, global stocks are firming in the wake of Friday’s Continue Reading
Oil futures rose sharply in Asian trading Monday, hitting new 3 1/2-year highs as the U.S. benchmark hovered around $70 a barrel and a deadline to renew waivers of U.S. Continue Reading
Oil prices rose to their highest levels since late-2014 on Monday, boosted by Venezuela’s deepening economic crisis and a looming decision on whether the United States will re-impose sanctions on Continue Reading
Oil markets will be keeping a close eye this week US President Donald Trump’s decision to re-impose sanctions on Iran. In the lead-up to the May 12 deadline, oil prices Continue Reading
In recent weeks I’ve commented on the powerful bullish forces that have combined in oil and oil stocks and your need to increase your exposure to them. So, before going Continue Reading
A new report from five international agencies has concluded that the world is not on track to meet 2030 global energy targets set as part of the Sustainable Development Goals, Continue Reading
Iran, faced with a possible restoration of U.S. sanctions, came out against higher oil prices, signaling a split with fellow OPEC member and political rival Saudi Arabia, which is showing Continue Reading
Teachers went on strike in central Iran’s city of Yazd. Steelworkers and hospital staff walked off the job in the southwest city of Ahvaz. Railway employees protested near Tabriz. And Continue Reading
From airplanes to oilfields, billions of dollars are on the line for international corporations as President Donald Trump weighs whether to pull America out of Iran’s nuclear deal with world Continue Reading
