High oil prices hurting fiscal balance, says Pradhan “We will do whatever is needed to maintain market stability and ensure that there are no oil supply shortages”, Saudi Prince and Continue Reading
A floating production facility is slated to start drilling for natural gas off the coast of Israel by early next year, Energean Oil and Gas said Monday. Energean said it Continue Reading
Disputes with Senegal’s government over oil and gas exploration rights offshore may head to an international panel for arbitration, African Petroleum said. The company, which has headquarters in London and Continue Reading
A Libyan oil company announced that blazes at oil storage tanks at a depot in eastern Libya have been safely extinguished following mid-June militant attacks. Anti-government forces loyal to militia Continue Reading
Brazilian state-led oil producer Petrobras pumped first oil from the offshore Tartaruga Verde Field, completing installation of the company’s second new floating production unit to enter service in 2018, Petrobras Continue Reading
The Iranian rial just hit an all-time low (see chart below). The Islamic Republic of Iran remains in the ever-tightening grip of an economic death spiral. The economy is ever-vulnerable Continue Reading
President Hassan Rouhani promised Iranians on Tuesday the government would be able to handle the economic pressure of new U.S. sanctions, a day after traders massed outside parliament to protest Continue Reading
Iran’s oil minister said that OPEC’s oil output agreement did not specify a production increase and that a figure of 800,000 barrels per day (bpd) was an interpretation by some Continue Reading
Hundreds protested in the Iranian capital on Monday while merchants in the city’s oldest bazaar shut their shops to protest economic woes and a collapsing currency as the U.S. restores Continue Reading
A fresh wave of protests erupted in Iran over the weekend against the plunging value of the local currency and rising prices, in what some observers and analysts describe as Continue Reading
A tanker that for more than a month was unable to deliver Russian crude to Venezuela’s PDVSA amid a dispute between the state-run firm and ConocoPhillips has discharged its cargo Continue Reading
Japan’s Minister of Economy, Trade and Industry Hiroshige Seko said Tuesday the country was “carefully analyzing the impact” of the US’ intended sanctions against Iran, to ensure its energy supply, Continue Reading
The government of Chinese President Xi Jinping outlined new climate goals following a trilateral meeting of regional environment ministers. File Photo by Xie Huanchi/UPI June 25 (UPI) — Guidelines published Continue Reading
New Zealand’s ban on new offshore oil and gas exploration could cost it billions in lost revenues, the head of the country’s oil and gas industry body Pepanz said , Continue Reading
The South Korean government and businesses will invest some 2.6 trillion won (US $2.33 billion) over the next five years in a public-private partnership to speed up the development of Continue Reading
China has surpassed Japan to become world’s largest importer of natural gas, with China’s drive for a cleaner environment and a bluer sky on the increase, reports Bloomberg. In order Continue Reading
A production problem at one of Canada’s largest oil sands facilities drove front-month U.S. crude futures to their steepest premium above second-month futures since 2014 on Monday. Canada is the Continue Reading
U.S. Energy Secretary Rick Perry said on Monday a deal between global oil producers to boost crude output reached last week may not be enough to relieve global oil markets Continue Reading
The world’s biggest oil and gas players are gathering for a summit in Washington D.C. this week that will be overshadowed by the specter of shifting trade patterns due to Continue Reading
What is surprising is who is pushing it: dyed-in-the-wool, rock-ribbed Republicans. They are the top of the GOP: Every one of them has had an outstanding career in finance, industry Continue Reading
While all eyes watched the OPEC saga last week, there was an outage in Canada’s oil sands that will cut production at least through July, supporting the U.S. benchmark prices, Continue Reading
Teslas may not be any greener than their gasoline counterparts, research from UK-based climate data provider Engaged Tracking has suggested, based on data about the CO2 emissions linked to the Continue Reading
The NYMEX July natural gas futures contract weakened Monday, as US dry gas production continued to tick higher over the weekend, reaching a record high of 79.8 Bcf Sunday. The Continue Reading
(Bloomberg) — The shutdown of a key oil-sands facility in Canada is flipping the global oil market on its head and slamming shares of producers that depend on the plant. Continue Reading
Once upon a time , if you were an American who didn’t like nuclear energy, you had to stage sit-ins and marches and chain yourself to various inanimate objects in Continue Reading
“The money’s here,” says Don Bryant, who was born in Hobbs 53 years ago and owns a company that makes tools to repair oil wells. He thought about uprooting for Continue Reading
Students in San Francisco rallied for clean energy outside City Hall in February. A federal judge on Monday threw out a closely watched lawsuit brought by two California cities against Continue Reading
Nearly everyone expected the OPEC+ decision to start raising oil production on Friday, with U.S. drivers excited to get some relief from high gas prices at the start of driving Continue Reading
Energy department heads from two of the world’s leading natural gas producers, Russia and the United States, meet this week in Washington, the Kremlin said. Washington host’s this year’s World Continue Reading
The head of Russia’s sovereign wealth fund said cooperating with Saudi Arabian Oil Minister Khalid al-Falih has been fruitful. File Photo by Lisi Niesner/EPA June 25 (UPI) — The head Continue Reading
Higher oil prices and increased efficiency have made companies more optimistic that they could spend more on exploration on the Norwegian Continental Shelf (NCS) this year than they did in Continue Reading
French oil and gas company Total SA expects the global natural gas market to grow far faster than that for crude oil over the next two decades thanks to booming Continue Reading
Oil prices fell on Monday as traders factored in an expected 1 million barrels per day (bpd) output increase in the wake of an Organization of the Petroleum Exporting Countries Continue Reading
All eyes will be on how oil markets react this week as they weigh the impact of the OPEC/non-OPEC deal agreed on June 22. The monitoring committee overseeing oil output Continue Reading
A major US driller delivered a message to OPEC last week in Vienna, urging the oil ministers to increase production to prevent a price spike that would damage both groups Continue Reading
The OPEC+ group has decided to increase output by aiming to return compliance back to 100 percent , rather than the “over compliance” the group has posted to date. Although Continue Reading
It felt like opposite day as traders bid up the price of oil last week even as OPEC announced an increase in oil production that should have sent prices downward. Continue Reading
Saudi Arabia has invited Russia to become an observer member of OPEC, Russian energy minister Alexander Novak said Saturday. The move would add the world’s largest oil producer as a Continue Reading
Since its December 2016 oil production-cut deal came into effect, the Organisation of Petroleum Exporting Countries (OPEC) has seen crude oil prices more than double, following the market rebound from Continue Reading
Khalid al-Falih, the Saudi energy minister, before the start of the meeting of the Organization of the Petroleum Exporting Countries on Friday. VIENNA — Saudi Arabia said on Saturday that Continue Reading
OPEC agreed with Russia and other oil-producing allies on Saturday to raise output from July, with Saudi Arabia pledging a “measurable” supply boost but giving no specific numbers. The Organization Continue Reading
Iran said on Saturday the world will see little extra oil reaching the market if OPEC and its partners adhere properly to a supply pact, underlining a disagreement with top Continue Reading
On Wednesday, MSCI said that it would reclassify Saudi Arabia as an emerging market, a move that will bring billions of dollars of inflow to the oil producing country. The Continue Reading
Her late father was a pillar of the Islamic republic. But for Faezeh Hashemi Rafsanjani, the survival of the system in Iran that her family helped create requires negotiations with Continue Reading
Saudi Arabian state-owned oil company Saudi Aramco wants to be present in the entire “value chain” of India’s energy sector, its Chief Executive Officer Amin Nasser said on Monday in Continue Reading
The June 12 Trump-Kim summit in Singapore has had an overall positive effect on the oil industry, cooling down expectations about the imminence of a major conflict driven by the Continue Reading
While the U.S. shale production in the Permian has been grabbing most of the market and media attention over the past two years, the Gulf of Mexico has been quietly Continue Reading
A large plume of smoke rising from BP’s Deepwater Horizon offshore oil rig in the Gulf of Mexico in April 2010. (Gerald Herbert/AP) President Trump on Wednesday ended an eight-year-old Continue Reading
U.S. shale companies, which kept pumping when the rest of the world cut back oil production, are in a strong position to benefit now that the Organization of the Petroleum Continue Reading
Throughout history the strong bond between the United States and Europe, arguably the world’s most important alliance, has been decisive within the international arena. Massive migration from the ‘old world’ Continue Reading
