Oil prices dipped on Friday amid escalating trade disputes between the United States and other major economies, although crude markets remain tight due to supply disruptions, high demand, and the Continue Reading
Oil prices climbed on Thursday, with U.S. crude hitting a three-and-a-half year high, bolstered by supply concerns due to U.S. sanctions that could cause a large drop in crude exports Continue Reading
Crude oil prices lost some ground in early Thursday trading after weaker-than-expected U.S. economic data offset looming supply-side pressures. Crude oil prices have spiked sharply this week amid concerns about Continue Reading
Oil supply outages are multiplying around the world and are likely to grow worse in the second half of 2018. The disruptions reduce the odds of a supply-driven slide in Continue Reading
This is Part 1 of the World Energy Annual Report in 2018. This author has developed world energy annual reports that have been posted at Peak Oil Barrel since 2014. Continue Reading
India’s oil ministry has asked refiners to prepare for a ‘drastic reduction or zero’ imports of Iranian oil from November, two industry sources said, the first sign that New Delhi Continue Reading
U.S. Energy Secretary Rick Perry believes that Saudi Arabia and Russia will be able to boost their oil production to stabilize the oil market and compensate for losses of Iranian oil supply. “I Continue Reading
The United States will work with countries importing Iranian oil on a case by case basis to get as many of them as possible “down to zero” by early November, Continue Reading
India’s oil ministry has told local refiners to get ready for a “drastic reduction or zero” oil imports from Iran, industry sources told Reuters on Thursday, a sign that India—Tehran’s Continue Reading
Iran may be Russia’s ally in the Syrian conflict but when it comes to oil, Tehran’s arch-enemy Saudi Arabia takes precedence – if last week’s OPEC meeting in Vienna is Continue Reading
Saudi Arabia is starting to panic, and is growing concerned that the growing number of supply disruptions around the world could cause oil prices to spike. Saudi Arabia is moving Continue Reading
Iraq’s Federal Supreme Court has given lawyers until Aug. 4 to present additional documents in the federal government’s case against the Kurdistan region’s independent oil policy, and set the next Continue Reading
Control over oil production in Libya and the revenues it generates need to be in the appropriate hands, the U.N. secretary-general said Thursday. Libya’s National Oil Corp. rejected a move Continue Reading
Ethiopia began on Thursday its first-ever crude oil production under a test production scheme that will see initial production of 450 barrels of oil per day. Ethiopia, a rather large Continue Reading
Citgo Petroleum, the U.S. refining arm of Venezuela’s state-run oil company PDVSA, said on Thursday it appointed two senior executives to new positions as it works to refurbish an idled Continue Reading
The United States should help the natural gas industry overcome environmental challenges to new pipeline projects by adjusting regulations or adopting new laws favoring infrastructure, an executive at TransCanada Corp Continue Reading
The United States should help the natural gas industry push back against opposition by environmental groups to pipeline projects by adopting new regulations or laws that favor infrastructure, backers of Continue Reading
U.S. Energy Secretary Rick Perry said on Thursday that bailing out struggling coal and nuclear power plants is as important to national security as keeping the military strong, and that Continue Reading
High-Voltage Direct Current Transmission Report A new study commissioned by EIA examines the role of high-voltage direct current (HVDC) lines in integrating renewables resources into the electric grid. The review Continue Reading
Oil prices surged to their highest level in more than three years on Thursday, as the number and volume of supply outages continues to rise. The odds of a significant Continue Reading
This week’s World Gas Conference in Washington hosted a bunch of upbeat natural gas executives and analysts that expect an exceptionally bright future for the bridge fuel of the future, Continue Reading
There has never been any love lost between Poland and Russia. Angst between the two countries dates back to Soviet dominance over Poland which started during World War II. Post Continue Reading
Oil prices steadied on Thursday, with U.S. crude pulling back from 3-1/2-year highs, but supply remained tight with investors concerned by the prospect of a big fall in crude exports Continue Reading
Oil prices jumped on Wednesday as plunging U.S. crude stockpiles compounded supply worries in a market already uncertain about Libyan exports, a production disruption in Canada and Washington’s demands that Continue Reading
Saudi Arabia is starting to panic, and is growing concerned that the growing number of supply disruptions around the world could cause oil prices to spike. Saudi Arabia is moving Continue Reading
A big drop in U.S. crude oil inventories and jousting over Iranian exports of oil put the price of oil in another rally phase on Wednesday. After the market closed Continue Reading
It will be impossible for Iranian oil customers to bring imports down to zero within the next five months or so, a senior petroleum official said Wednesday. U.S. President Donald Continue Reading
Shell has handed over the operations of the Majnoon oilfield in Iraq to Iraqi state-run Basra Oil Company, exiting the field as it said last year it would do, Reuters Continue Reading
Ethiopia is to start extracting the first ever natural gas deposit from Ethio-Somali Region as of tomorrow, The Reporter learnt. It is to be recalled that back in March, 2018, Continue Reading
The Panama Canal Authority will boost the number of daily reserved transit slots available for LNG vessels starting October 1 and will make improvements that will allow it to increase Continue Reading
India’s space program wants to go where no nation has gone before – to the south side of the moon. And once it gets there, it will study the potential Continue Reading
U.S. Ambassador to the United Nations Nikki Haley told India’s Prime Minister Narendra Modi on Wednesday it was important India cut Iranian oil use, but said the United States would Continue Reading
The unprecedented economic development of China created serious environmental problems starting in December 1978 after Deng Xiaoping’s ‘opening up policy’. The Asian country transformed from a developing nation into a Continue Reading
China has ramped up purchases of liquefied natural gas (LNG), pulling in rare cargoes from Cameroon, Egypt and Europe, trade data shows, as the world’s most populous nation shores up Continue Reading
Electricity output in May from China’s thermal power plants — mainly comprising coal-fired units — rose 10.3% year on year and 3.6% from April to 392.2 TWh, data published Thursday Continue Reading
U.S. crude stocks fell by nearly 10 million barrels last week as refineries hiked output, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories Continue Reading
U.S. regular-grade retail gasoline prices averaged $2.89 per gallon (gal) in June, down from a high of $2.96/gal on May 28. EIA estimates that gasoline prices will remain lower than Continue Reading
Tesla and General Motors are seeing the beginning of the end for crucial U.S. federal tax incentives needed to transition interested car shoppers into electric vehicle owners. The federal government Continue Reading
Natural gas production from U.S. shale fields can keep growing for decades, giving Washington a powerful diplomatic tool to counter the geopolitical influence of other energy exporters such as Russia, Continue Reading
Canada has the world’s third-largest crude oil reserves , but the country seems determined to pretty literally keep these in the ground. This determination becomes strikingly obvious when Canada is Continue Reading
Electric vehicle makers and legacy automakers have launched in earnest the race to make such EVs so as to win over the public with increased range and powerful batteries. In Continue Reading
Higher oil prices, lower offshore development costs, and improved gas demand outlook have made the oil and gas industry more confident in approving investment in new projects whose total worth Continue Reading
US natural gas production edged up to a fresh record high this week, largely due to gains in Texas, the Southeast, and the Appalachia region. Modeled US production surpassed 79.8 Continue Reading
The Canadian government would like to see construction accelerate on the Trans Mountain pipeline expansion, but has no control over decisions to resume or start new work until it takes Continue Reading
Spain is the next European country to outline new goals that could make it among the leaders in renewable energy, new analysis from Wood Mackenzie found. A report emailed to Continue Reading
A few days after Russia backed OPEC pledges on oil production, a Russian finance minister said Wednesday the pace of economic growth is accelerating. Russian Energy Minister Alexander Novak sat Continue Reading
The first battery used to store energy from wind power from a facility offshore Scotland was installed Wednesday, Norwegian energy company Equnior said. Equinor, formerly known as Statoil, started handing Continue Reading
An executive from German energy company Wintershall said rifts in trade policy are leading to a lack of trust in the United States as an energy supplier. Washington D.C. hosts Continue Reading
Russian Energy Minister Aleksandr Novak has met with his U.S. counterpart Rick Perry and U.S. Treasury Secretary Steven Mnuchin to discuss energy issues and U.S. sanctions on Russia. “We met. Continue Reading
Russia will assess its agreement with Iran to import crude oil in exchange for goods “from the legal point of view,” Energy Minister Alexander Novak told media following reports that Continue Reading
