Indian refiners could offer Iran some respite at least for the next few quarters as the South Asian crude oil importers are keen to adhere to their term supply contract Continue Reading
Critics at home and abroad on Monday denounced the vote that re-elected Venezuela’s socialist President Nicolas Maduro as a farce cementing autocracy and the U.S. government imposed new sanctions on Continue Reading
The United States remained the world’s top producer of petroleum and natural gas hydrocarbons in 2017, reaching a record high. The United States has been the world’s top producer of Continue Reading
The electrification of road transport will move into top gear in the second half of the 2020s, due to tumbling battery costs and larger-scale manufacturing, with sales of electric cars Continue Reading
On Saturday, there was a sign of hope that ongoing trade tensions between Washington and Beijing could be remedied. Beijing said that it agreed to significantly increase its purchases of Continue Reading
More than half of new car sales in the world will be electric vehicles (EVs) in 2040, with one-third of the global car fleet then consisting of electric cars, according Continue Reading
Treasury Secretary Steven Mnuchin said there is a “massive opportunity” for U.S. energy exports to China, after the trade partners reached a truce. China has emerged as one of the Continue Reading
I have updated my scenarios for US LTO output, based on both EIA tight oil output data and average well profile data from Enno Peters’ shaleprofile.com. I have also created Continue Reading
Southern Co., which has spent billions of dollars to expand its U.S. utility empire, is now retrenching. The company said Monday it was selling nearly all the assets it owns Continue Reading
Lithium-ion batteries have come to dominate the battery market, and this domination looks like it will be a lasting one despite the numerous reports of breakthroughs in battery technology that Continue Reading
The airline industry is heading for rising fuel costs as crude oil prices surge, and the weakest of the European airlines may not make it through the winter, Michael O’Leary, Continue Reading
Electric vehicles will become cheaper than the internal combustion engine in a half decade, while electric buses will completely “dominate” its sector by the late-2020s, according to Bloomberg New Energy Continue Reading
But higher oil prices affect not only the gasoline bills of retail consumers. The higher price of oil is also pushing up diesel fuel prices as the harvesting and planting Continue Reading
The U.S. Supreme Court on Monday agreed to decide whether states have the right to ban uranium mining for public health reasons in a dispute over a moratorium Virginia put Continue Reading
Investors are upping the ante on big oil companies over climate change, demanding they take more concrete action to help curb global warming. The issue is set to come into Continue Reading
BP has secured 2 million mt/year of LNG from the Venture Global Calcasieu Pass LNG export facility in Louisiana, under a 20-year sales and purchase agreement with Venture Global LNG, Continue Reading
After paying more than $65 billion in legal costs for the Deepwater Horizon catastrophe, BP Plc is wary of the risk of lawsuits related to climate change. Chief Executive Officer Continue Reading
Oil rose on Monday, lifted by a rally across stocks and other commodities after the United States said it had put a possible trade war with China “on hold”. Brent Continue Reading
Donald Trump could scarcely have chosen a more treacherous economic moment to tear up the “decaying and rotten deal” with Iran. The world crude market is already tightening very fast. Continue Reading
Rising oil prices were seen last year as a positive result of growing global growth and recovery, but a combination of factors is turning this benign view into a more Continue Reading
The International Energy Agency (IEA) is ready to act if “necessary to ensure that markets remain well supplied,” the IEA’s Director for Energy Markets and Security, Keisuke Sadamori, told S&P Continue Reading
The oil majors are increasingly betting their futures on a mix of downstream enterprises. Refineries, processing, petrochemical facilities and retail gasoline stations are gaining in importance, while upstream spending stalls. Continue Reading
Iran is pinning its hopes on the European Union in its efforts to skirt new US sanctions, while also courting Russian and Chinese investments to keep its oil ambitions alive. Continue Reading
Iraqi Prime Minister Haider al-Abadi met with Moqtada al-Sadr on Saturday, less than 24 hours after the Shi’ite cleric’s bloc was declared winner of Iraq’s parliamentary election, the clearest sign Continue Reading
Iranian Oil Minister Bijan Zanganeh said on Saturday that U.S. President Donald Trump’s decision to quit a multinational nuclear deal would not affect Tehran’s oil exports if the EU could Continue Reading
A group of unemployed Libyan youths will shut down oilfields in Marada town in the east unless demands for better state services are met, the group said on Sunday. An Continue Reading
Seven years ago, two middlemen launched civil lawsuits to seek payment for helping arrange a $1.3 billion oil deal in Nigeria. Now, nine current and former executives or contractors from Continue Reading
Venezuela’s socialist leader Nicolas Maduro faced fresh international censure on Monday after re-election in a vote foes denounced as a farce cementing autocracy in the crisis-stricken OPEC nation. The 55-year-old Continue Reading
Courts in Curacao and Bonaire have partially lifted attachments introduced by ConocoPhillips aiming to seize Venezuelan PDVSA’s [PDVSA.UL] assets to satisfy a $2 billion arbitration ruling, according to a copy Continue Reading
PetroChina, the country’s top gas producer, has curbed supplies of the fuel to some industrial users in northern and western regions, in the first sign of emerging tightness only two Continue Reading
Top Chinese oil and gas producer PetroChina is stepping up natural gas supplies from both domestic fields and imports to meet customer demand, parent company CNPC said on Monday. PetroChina Continue Reading
A pipeline across Australia and gas imports from as far away as the United States are on the drawing board as the country races to plug a domestic supply gap Continue Reading
WTI Crude prices have recently surged to their highest level in three and a half years—just above $70 a barrel . In theory, that’s higher than the average breakeven costs Continue Reading
One month ago, when looking at the sharp spike in oil and gasoline prices (which at the time averaged $2.73), we said that the surge in energy costs – largely Continue Reading
Following the 2016 presidential election, I explained Why The Ethanol Industry Should Fear President Trump . Since that time, the ethanol industry has indeed been on the defensive. In fact, Continue Reading
Environmental Protection Agency Administrator Scott Pruitt has faced setbacks on more than half a dozen actions to reverse Obama-era rules. In March, as part of Scott Pruitt’s aggressive campaign to Continue Reading
Total California solar output hit a new record this week, placing sun-driven generation at the top of the overall California generation mix so far this month. California solar photovoltaic generation Continue Reading
France is looking to see if the European Union could compensate European companies that might be facing sanctions by the United States for doing business with Iran, said French finance Continue Reading
While Germany tries to make sure Ukraine will not suffer too badly from the addition of Nord Stream 2 to the European natural gas pipeline network, a senior State Department Continue Reading
After the near collapse of his company following the 2010 Gulf of Mexico disaster and a three-year slump in oil prices, BP Chief Executive Officer Bob Dudley is hardly relaxed. Continue Reading
Oil prices pulled back slightly on Friday following a week of bullish news, and despite an increase in U.S. oil production, crude prices are set to continue climbing. Friday, May Continue Reading
After making a run at $80 per barrel this week, crude oil prices were mixed early Friday amid concerns about the economic consequences of the bull market. The price for Continue Reading
The IEA has cut oil demand forecasts as the recent growth in oil prices continues. The agency expects demand to fall in response to high prices, but there are a Continue Reading
Large global investors—representing a combined US$10.4 trillion worth of assets under management—urged oil and gas companies on Friday to start acting responsibly in tackling climate change, putting pressure on Big Continue Reading
BP Chief Executive Bob Dudley expects a flood of U.S. shale and the reopening of OPEC taps to cool the oil market after crude rose above $80 a barrel this Continue Reading
India should rest assured that Riyadh will do its part to ensure its economy can move forward in the face of higher oil prices, the Saudi energy minister said. Saudi Continue Reading
European companies will be protected from U.S. sanctions triggered by President Trump’s withdrawal from the JCPOA, the European Commission president said. Jean-Claude Juncker said Friday there was a unified position Continue Reading
The EU announced a package of measures on Friday to counter US sanctions on Iran, setting up a potential new conflict with Washington as Europe fights to save a landmark Continue Reading
The Nigerian subsidiary of Shell has declared force majeure on Bonny Light exports because of the shutdown of the Nembe Creek pipeline, which has led to the accumulation of lots Continue Reading
West African country Ghana, a relative newcomer to the oil industry, plans to award as many as nine offshore blocks off its west coast in 2018 and 2019, Ghana’s energy Continue Reading
