Oil prices gained on Wednesday, shaking off the effects of a strengthening dollar, after an inventory report showed U.S. crude and gasoline stocks fell more than expected. Oil pumps are Continue Reading
Oil prices hit their highest level since November 2014 on Thursday, with Brent crude creeping closer to $80 per barrel as supplies tighten and tensions with Iran simmer. Brent crude Continue Reading
ICE July Brent crude futures rose above $80/b at 0948 GMT, trading as high as $80.18/b, on continued geopolitical tensions compounded by an unexpected drawdown in US stocks. “The US Continue Reading
Geopolitics has taken over the oil market, driving oil prices up to three-year highs. The inventory surplus has vanished , and more outages could push oil prices up even higher. Continue Reading
American shale drillers are still spending more money than they are making, even as oil prices rise. Of the top 20 U.S. oil companies that focus mostly on fracking, only Continue Reading
A decade ago, the news that the world’s top oil and gas companies had less than 12 years of production left in their reserves might have caused a panicked sell-off Continue Reading
Geopolitical issues are drawing the market focus away from more fundamental issues like supply and demand metrics, the International Energy Agency said. Brent crude oil prices are up more than Continue Reading
Emissions of one of the chemicals most responsible for the Antarctic ozone hole are on the rise, despite an international treaty that required an end to its production in 2010, Continue Reading
Ian Telfer, chairman of Goldcorp Inc., is the latest industry magnate to predict the world has reached “peak gold,” saying that from here on out, mine production will continue to Continue Reading
OPEC is not in a rush to start winding down the production cuts despite oil prices continuing their strong rally, with Brent briefly breaking above $79 a barrel on Tuesday. Continue Reading
Forget Iran and OPEC — there’s another issue that will keep oil prices supported for the next two years, according to Morgan Stanley. Brent crude will reach $90 a barrel Continue Reading
OPEC sees oil’s rally towards $80 a barrel as a short-term spike driven by geopolitics rather than any supply shortage, four OPEC delegates said, a sign the group is not Continue Reading
New rules coming into force from 2020 to curb pollution produced by the world’s ships are worrying everyone from OPEC oil producers to bunker fuel sellers and shipping companies. The Continue Reading
The International Maritime Organization (IMO) has new rules coming into effect at the start of 2020 requiring shipowners to dramatically lower the concentration of sulfur used in their fuels. Ships Continue Reading
French energy giant Total joined other European companies in signaling on Wednesday they could exit Iran, casting doubt on whether European leaders meeting to try to salvage the Iran nuclear Continue Reading
Iran signed a preliminary deal on Wednesday for a consortium of international companies to develop an oilfield, the first such contract since Washington withdrew from a nuclear agreement and said Continue Reading
French energy company Total said Wednesday it may have to leave an Iranian gas project unless it gets concessions from the U.S. government. U.S. President Donald Trump reinstated sanctions on Continue Reading
Total SA has announced it will not go ahead with its South Pars Gas Project (SP11) unless it is granted a specific project waiver by the United States, along with Continue Reading
A senior Iranian oil official asked Chinese state oil buyers this week to continue their oil import levels of Iran’s crude after the U.S. sanctions on Tehran return later this Continue Reading
European refiners are already experiencing difficulties in shipping Iranian crude as shipowners are starting to avoid this route for fear of falling foul of US sanctions, industry sources said Wednesday. Continue Reading
At the International Energy Forum in Delhi in April, the world’s top oil producer Saudi Aramco inked a preliminary deal here to partner with a consortium of Indian players to Continue Reading
Oil prices are poised to break through $80 per barrel and Asia’s demand is at a record, pushing the cost of the region’s thirst for crude to $1 trillion this Continue Reading
NEW DELHI (Reuters) – India’s oil imports from Iran surged to 640,000 barrels per day (bpd) in April, its highest level since October 2016, according to data from shipping and Continue Reading
State-run thermal power plants in India’s coastal states have again begun buying overseas coal due to domestic coal shortages, government and utility officials said, in a setback for the country’s Continue Reading
For months, the U.S. has signaled that it isn’t ruling out additional sanctions on Venezuela’s oil industry alongside the strict financial sanctions already in place, and oil analysts say that Continue Reading
ConocoPhillips has embargoed two cargoes of crude oil and fuel at a storage terminal in Aruba operated by Venezuelan PDVSA’s U.S. subsidiary Citgo, Reuters reports citing the Aruba government. The Continue Reading
There is enough oil supply in the global market to make up for potential fuel disruptions due to U.S. oil producer ConocoPhillips’ legal actions against Venezuelan state oil company PDVSA, Continue Reading
Australia is on track to become the world’s largest LNG exporter by next year. Home to several giant offshore projects such as the Gorgon, Wheatstone, Prelude, and Ichthys, the country Continue Reading
U.S. crude oil stockpiles fell last week as exports hit a record high and refinery ramped up output, while gasoline inventories dropped more than expected ahead of the summer driving Continue Reading
Construction on TransCanada Corp’s ( TRP.TO ) Coastal Gaslink pipeline will start in early 2019, pending a positive investment decision on the LNG Canada liquefied natural gas project, the head Continue Reading
U.S. crude oil stockpiles fell last week as exports hit a record high and refinery ramped up output, while gasoline inventories dropped more than expected ahead of the summer driving Continue Reading
A pipeline system running through northern Michigan waters was dented by an April maritime incident and requires reinforcement, pipeline company Enbridge said. Canadian pipeline company Enbridge operates a broad network Continue Reading
American women are having children at the lowest rate on record, with the number of babies born in the U.S. last year dropping to a 30-year low, federal figures released Continue Reading
San Francisco Mayor Mark Farrell and the San Francisco Municipal Transportation Agency (SFMTA), which operates MUNI (the city’s public transit), announced San Francisco’s commitment to have an all-electric bus fleet Continue Reading
U.S. crude oil refinery inputs averaged over 16.6 million barrels per day during the week ending May 11, 2018, 149,000 barrels per day more than the previous week’s average. Refineries Continue Reading
Progress on the second phase of the Nord Stream pipeline to Europe was the focus of talks with Austrian energy company OMV, Russia’s Gazprom said. The top brass at the Continue Reading
Shares in Equinor, the company formally known as Statoil, started trading Wednesday for the first time on the Oslo stock exchange, it announced. The company is trading under the ticker Continue Reading
Mobileye, Intel Corp’s Israel-based autonomous driving unit, has signed a contract to supply eight million cars at a European automaker with its self-driving technologies, a company official told Reuters. A Continue Reading
The planned Nord Stream 2 gas pipeline from Russia to Germany raises U.S. intelligence and military concerns since it would allow Moscow to place new listening and monitoring technology in Continue Reading
Spain’s oil and gas company Repsol will stop pursuing production growth in its upstream oil and gas division as it is getting ready for the energy transition, Bloomberg reports , Continue Reading
Oil prices rose in volatile trading Tuesday, shrugging off a strong dollar and weak equity markets . U.S. crude futures rose 35 cents, or 0.5%, to $71.31 a barrel on Continue Reading
As the price of Brent Crude hit multi-year highs earlier today, the American Petroleum Institute (API) reported a surprise build of 4.854 million barrels of United States crude oil inventories Continue Reading
Brent crude hit a new high of over US$79 a barrel on data about higher demand in key markets such as China and OPEC’s bullish Monthly Oil Market Report, in Continue Reading
The U.S. exported 905,000 bpd of propane in 2017, about half of which went to Asia to be used in petrochemical production. – Surging demand in Asia for propane has Continue Reading
The spread of air-conditioning in hot countries is set to create a huge increase in demand for electricity, threatening efforts to curb greenhouse gas emissions, according to the International Energy Continue Reading
Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel Continue Reading
Commercial oil stocks in industrialized economies have fallen to their lowest level in three years, the International Energy Agency said Wednesday, in the latest sign that the global supply glut Continue Reading
The expected growth in the global LNG market in the coming years will mean buyers can do without long-term contracts, leading industry players said late Tuesday at the Flame conference Continue Reading
Europe sought on Tuesday to find a way to save the Iran nuclear deal without the United States but was short on details about how the accord could survive the Continue Reading
Oil prices ended a shade firmer after retreating from multi-year highs hit early in the day on Tuesday, supported by concerns that U.S. sanctions on Iran are likely to restrict Continue Reading
