Nigeria may be ensnared in another budget deficit as members of the Organization Petroleum Exporting Countries (OPEC) head for a crucial meeting to decide on output policy, which could crash Continue Reading
Global leaders must have a rethink on energy poverty in order to save around three billion people using unclean fuels for cooking and over one billion others without access to Continue Reading
Chinese oil customers plan to reduce their intake of U.S. crude oil from September onwards to avoid a possible import tariff on American oil in China, due to the uncertain Continue Reading
Royal Dutch Shell said Thursday it made further advancements on its divestment effort by selling off its stake in a natural gas field in Thailand. Shell’s natural gas subsidiary said Continue Reading
Pipeline limitations near the U.S. inland storage hub in Cushing, Okla., create headwinds for growth in Colorado oil production, a state report found. Colorado crude oil production more than tripled Continue Reading
When China last week set out a list of US exports threatened with retaliatory tariffs, almost all fossil fuels were covered, including oil, coal and liquefied petroleum gases such as Continue Reading
The pipeline constraints in the Permian are finally starting to bite, threatening to derail the extraordinary production boom that has been underway for the last few years. Permian drillers are Continue Reading
Share Demand for lithium, one of the key materials used in making lithium ion batteries, is rising rapidly. The metal is used in a wide variety of industrial applications including Continue Reading
The U.S. Environmental Protection Agency (EPA) is considering delaying an announcement expected on Friday on 2019 renewable fuel volumes as it re-examines plans to force larger refineries to make up Continue Reading
Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. The Continue Reading
Investor pressure on oil producers to focus more attention on shareholder returns and less on output will drive down vital industry investment in the long term, a leading U.S. shale Continue Reading
Renewable energy grew by the largest amount ever last year, while coal-fired electricity also reached a record high, according to new global data from oil giant BP. However, set against Continue Reading
Norway needs to see production trends develop in the Barents Sea to keep output steady beyond 2025. Map courtesy of the Norwegian Petroleum Directorate. June 21 (UPI) — Beyond 2025, Continue Reading
U.S. crude futures rose nearly 2 percent on Wednesday, supported by a drop in domestic inventories, while Brent edged down ahead of an OPEC meeting later this week that may Continue Reading
Crude oil prices remained relatively stable after the Energy Information Administration reported a draw of 5.9 million barrels in U.S. crude oil inventories for the week to June 15. At Continue Reading
This week the 2018 BP Statistical Review of World Energy was released, which covers energy data through 2017. It is the definitive source for global energy production and consumption figures, Continue Reading
Iran’s oil minister is resisting a Saudi Arabia-led push to raise crude output, putting the two Middle East rivals on a collision course ahead of a closely watched Opec meeting Continue Reading
Expect some sort of Goldilocks scenario from OPEC on future supplies, though talks under way in Vienna are increasingly contentious, a consultant group said. Ministers from the Organization of Petroleum Continue Reading
OPEC should boost daily output by roughly 1 million barrels over time to keep global crude supply and demand in the balance as production dips elsewhere, a leading U.S. shale Continue Reading
Iran signaled on Wednesday it could compromise on a small increase in OPEC oil output when the group meets this week, as Saudi Arabia scrambled to convince fellow members of Continue Reading
Libya’s oil output has been slashed to between 600,000 and 700,000 barrels per day (bpd) from more than one million following clashes at its Ras Lanuf and Es Sider oil Continue Reading
Executive action from the U.S. president eases offshore energy planning burdens, an industry group said, though critics said it was a war on oceans. President Donald Trump signed an executive Continue Reading
U.S. economy not as exposed to spikes in crude oil prices as it was in the 1970s, the Federal Reserve Bank of Dallas found. File Photo by John Angelillo/UPI June Continue Reading
The fastest-growing oil producing region in the United States, the Permian, is nearing the limits of its pipeline takeaway capacity and some producers may be forced to shut in wells Continue Reading
The chairman of Permian heavyweight Pioneer Natural Resources took the unusual step Wednesday of publicly asking OPEC to pump more oil, arguing the price range of $60-$80/b is best for Continue Reading
The NYMEX July natural gas futures contract rose 6.4 cents Wednesday to settle at $2.964/MMBtu on a warmer-than-average weather forecast. The front-month contract was trading Wednesday between $2.912/MMBtu and $2.969/MMBtu. Continue Reading
TransCanada Corp.’s Keystone XL may be one pipeline too many for Canada, at least for now. Construction of the export line would supply Western Canada with more pipeline capacity than Continue Reading
It has become one of the fastest growing political campaigns in human history, surpassing similar battles against the tobacco industry and the fight against apartheid in South Africa. Its logic Continue Reading
Summary of Weekly Petroleum Data for the week ending June 15, 2018 U.S. crude oil refinery inputs averaged 17.7 million barrels per day during the week ending June 15, 2018, Continue Reading
Supermajor Royal Dutch Shell said Wednesday it sold off its entire stake in two fields in production off the Norwegian coast for $556 million. Shell’s subsidiary in Norway sold its Continue Reading
Saudi Arabia and Russia have promised they will lead OPEC and other big oil producers in a deal this week to boost output and lower prices. What if it isn’t Continue Reading
Although OPEC and its Russia-led non-OPEC allies have not yet decided if and how much oil they will restore to the market, Russia’s plans for exports and refinery runs in Continue Reading
Oil prices rose on Wednesday, supported by a drop in U.S. commercial crude inventories and the loss of storage capacity in Libya, with investors cautious ahead of a biannual meeting Continue Reading
As oil prices continue to fall, the American Petroleum Institute (API) reported a draw of 3.016 million barrels in crude oil inventories for the week ending June 15, compared to Continue Reading
The expected increase in oil production will not leave the market in a situation of oversupply, and in fact, barring no further action, the world could still be short of Continue Reading
Iran said on Tuesday OPEC was unlikely to reach a deal on oil output this week, setting the stage for a clash with Saudi Arabia and Russia, which are pushing Continue Reading
A BP PLC project deep in Oman’s desert shows how big oil companies are taking hydraulic-fracturing techniques perfected in Texas to the global stage, where they had long struggled. BP’s Continue Reading
The escalating trade war between Washington and Beijing has jolted investors for the first time in months as a sharp sell-off in Chinese shares on Tuesday started a ripple through Continue Reading
An OPEC technical panel has found that global oil demand is on pace to stay strong in the second half of this year, suggesting that the oil market could comfortably Continue Reading
Peak summer demand could drain global oil inventories to critical levels if the OPEC/non-OPEC coalition leaves its production cut agreement in place, Russian energy minister Alexander Novak said Tuesday. That Continue Reading
Saudi Arabia is struggling to convince fellow OPEC members including Gulf allies on the need to raise oil output, sources familiar with the talks said on Wednesday, adding to complications Continue Reading
Saudi Arabia and Russia have promised they will lead OPEC and other big oil producers in a deal this week to boost output and lower prices. What if it isn’t Continue Reading
Changing output policy will increase supply of sour crudes Huge imbalance between sweet, sour crudes Growing glut of sweet crudes in Atlantic Basin The oil market currently bears a very Continue Reading
US shale oil producers will likely benefit from any decision OPEC makes this week in Vienna, with the exception of a complete breakdown in unity that created the current supply Continue Reading
Libya has lost some 400,000 barrels per day (bpd) of oil production in recent days because of militant attacks at the Ras Lanuf and Es Sider ports, the head of Continue Reading
Ahead of its planned opening this fall, Nobu needs to assemble a staff of around 300 people, and under the law around 40% must be Saudi. Some jobs, such as Continue Reading
Iran plans to increase the production capacity of its oil fields by 400,000 bpd, state news agency Irna reports , quoting National Iranian Oil Company’s deputy head Gholamreza Manouchehri. Russia’s Continue Reading
A 12-person committee will study best international best practices and develop recommendations for implementing a new law to re-create the Iraq National Oil Company. Basra Oil Company Director General Ihsan Continue Reading
Nigeria is sitting on between 20 and 34 million barrels of unsold crude, Nigerian media report , quoting a Platts survey of tenders for July loadings. This goes counter to Continue Reading
Anadarko Petroleum’s personnel at a planned liquefied natural gas (LNG) plant in northern Mozambique have been placed under ‘lock-down’ due to safety reasons, following Islamist militant attacks in the area, Continue Reading
