Oil prices fell on Tuesday, with Brent futures set for their biggest monthly loss in two years, as oversupply concerns rose after a Reuters survey showed OPEC output rose in Continue Reading
Iranian pressure and supply-side concerns surfaced before the opening bell on Monday to push the price of crude oil higher, after some profit taking last week. The price of oil Continue Reading
Oil prices rose on Monday, with U.S. crude futures jumping more than 2 percent, as traders continued to focus on supply disruptions and a possible hit to crude output from Continue Reading
Natural gas flaring from oil well [licensed under Creative Commons from Flickr user Sirdle] Most people buy electric cars to reduce oil consumption, but oil companies keep selling more oil Continue Reading
OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Continue Reading
Expect more. That’s the verdict of climate scientists to the record-high temperatures this spring and summer in vastly different climate zones. The continental United States had its hottest month of Continue Reading
Production from an oil field in the Kurdish north of Iraq moved beyond its original target rate with the tapping of another well, Norway’s DNO said Monday. The company said Continue Reading
Iraq’s security troops have dispersed two sit-ins in southern Iraq, one at a key oil field, local media report . The field is West Qurna-1, one of the biggest in Continue Reading
Norwegian oil and gas operator DNO ASA said on Monday that it had put a fourth well into production at the Peshkabir oil field in Iraq’s northern region of Kurdistan, Continue Reading
Aramco is unlikely to suspend West-bound crude oil exports after the Houthi missile attacks against two Saudi tankers in the Bab el Mandeb strait, The National reports citing oil analysts. Continue Reading
The Aramco IPO may now be history, put on indefinite hold several weeks ago, but Saudi Arabia’s funding needs have never been greater. As a result, 32-year-old Crown Prince Mohammed Continue Reading
An unladen Saudi-owned VLCC crossed the key Bab el-Mandeb strait over the weekend, a few days after the kingdom temporarily halted all its oil shipments through the southern tip of Continue Reading
London — Saudi-owned VLCCs have started to gather off the southern coast of Oman after state-owned Saudi Aramco temporarily halted oil shipments through the Bab el-Mandeb strait at the bottom Continue Reading
The head of the Iranian central bank said it was monitoring the swift devaluation of its currency, the rial, as U.S. economic pressure on the country mounts. “Enemies are out Continue Reading
Iran’s local currency hit another record low against the U.S. dollar Monday, extending a historic slide on concerns about new American sanctions due to be imposed next week. Scrambling to Continue Reading
President Donald Trump said on Monday he was willing to meet the leaders of Iran without any preconditions, opening the door to possible negotiations with the Tehran regime just months Continue Reading
As U.S. sanctions on Iran are about to kick in later this year, Indian oil refiners reduced their orders for Iranian crude oil in June by 12 percent compared to Continue Reading
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has suggested that upcoming petroleum refining plants in Nigeria could place a lot of demand on the country’s oil production Continue Reading
Between March 2017 and March 2018, a period of 13 months, the Nigerian National Petroleum Corporation (NNPC) incurred a loss of N240,304,755,518 as under-recovered expenditure in importing petrol at the Continue Reading
Japan, known for its aversion to using oil for power generation, has had little choice but to ramp up its usage of the dirtier burning hydrocarbon amid a deadly heatwave Continue Reading
A U.S. probe into the laundering of US$1 billion from Venezuela’s state-owned oil company PDVSA has spread to the country’s president, Nicolas Maduro, the Miami Herald reports , citing unnamed Continue Reading
Mexican imports of gasoline from China in June spiked to a new monthly high in June, while imports from the US, Mexico’s most important gasoline supplier, declined in the same Continue Reading
Mexico’s incoming president has begun fleshing out his rescue plan for the country’s long-neglected oil sector. Andrés Manuel López Obrador’s proposals include a $4bn capital injection for state oil company Continue Reading
Japan’s largest exploration and production company, Inpex, said on Monday that it had started producing gas at the Ichthys liquefied natural gas (LNG) project, which has cost US$40 billion and Continue Reading
China’s finance ministry said on Tuesday it will scrap vehicle and vessel taxes on new energy vehicles and ships powered by natural gas, as part of its efforts to encourage Continue Reading
China’s business activities faltered in July in the first official data to reflect the impact of U.S. tariffs, adding to signs that trade tensions have started to pinch economic growth. Continue Reading
Seoul — South Korea is planning to cut taxes on LNG by 74% and raise taxes on coal for power generation by 27% next year in an effort to cut Continue Reading
The federal government created the Strategic Petroleum Reserve in the mid-1970s after the Arab Oil Embargo created a shortage of crude in the U.S. The idea of having a strategic Continue Reading
Source: U.S. Energy Information Administration, Monthly Energy Review and State Energy Data System U.S. energy expenditures declined for the fifth consecutive year, reaching $1.0 trillion in 2016, a 9% decrease Continue Reading
A visit from Jean-Claude Juncker, the President of the European Commission, to Washington last week resulted in an agreement between two of the biggest economic blocs in the world, which Continue Reading
A new report by Wood Mackenzie examines the risks facing operators and investors from inaccurately estimating well decline rates in the Permian. While parallels can be drawn between the current Continue Reading
The expanded western leg of MMP’s Texas refined products pipeline system will boast a 175,000-bpd rather than 150,000-bpd capacity. First it was 50 percent. Now it’s 75 percent. That’s how Continue Reading
The Keystone XL crude oil pipeline project cleared a hurdle on Monday as the Trump administration said in a draft environmental assessment that an alternative route through Nebraska would not Continue Reading
A steep global decline in the price of solar modules in recent weeks is nearly offsetting the effect of the Trump administration’s 30 percent tariff on imported panels, the chief Continue Reading
Higher oil prices this year boosted U.S. oil production, and the U.S. oil industry played a large part in America’s impressive second quarter economic growth—the fastest growth since the third Continue Reading
Rising oil prices have led to an increase in trucking of frac sand, water, oilfield equipment, pipes, and fuel in West Texas. Together with the higher truck traffic on a Continue Reading
A new report by the progressive policy institute Center for American Progress estimates that the US needs to add 14 million new PEVs and more than 330,000 new public charging Continue Reading
London — Germany has added over 2 GW of new solar capacity over the past year as the rebound for the sector accelerates and annual additions are on track for Continue Reading
Crude oil futures were stable to marginally higher during mid-morning trade in Asia Monday, as the market awaits fresh fundamental drivers to provide price direction while supply side concerns continue Continue Reading
Oil prices rose on Monday with U.S. benchmark WTI moving higher after four weeks of declines, but gains were limited as the fallout from trade tensions weighed on markets. Brent Continue Reading
Since late 2016 the financial media has been abuzz about what would likely be the biggest initial public offering (IPO) ever: The sale of 5 percent of the world’s largest Continue Reading
The Aramco IPO may now be history, put on indefinite hold several weeks ago, but Saudi Arabia’s funding needs have never been greater. As a result, 32-year-old Crown Prince Mohammed Continue Reading
The suspension of oil shipments through the strait of Bab el-Mandeb this week by Saudi Arabia, coming shortly after a threat by Iran to shut the strait of Hormuz, raised Continue Reading
Hoover Dam was a public works project likened to the pyramids. Now, after channeling a river, what if it could tap the power of the sun and wind? Hoover Dam Continue Reading
The fastest-growing oil region in the U.S. is fueling not only the second American shale revolution—it’s fueling a subculture of drug and alcohol abuse among oil field workers. The Permian Continue Reading
“Higher prices and operational improvements are putting the US shale sector on track to achieve positive free cash flow in 2018 for the first time ever,” the International Energy Agency Continue Reading
In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP’s ( BP.L ) shale business turn a profit for the first time. Thousands of Continue Reading
The EU’s energy chief is pushing for member states to adopt a more aggressive carbon reduction target ahead of UN climate talks later this year. The EU already has some Continue Reading
Wind energy in Europe is expanding, but it is not expanding evenly across the continent, a new report from Wind Europe has revealed. During the first half of the year, Continue Reading
Ireland has decided to bring down the curtain on the Age of Coal by ending its fossil fuel investments. DUBLIN, 25 July, 2018 – Other countries talk about it, Ireland Continue Reading
