Oil prices rise Monday on supply deficit concerns
Crude oil prices edged higher in early Monday trading because of concerns of a shortage of supplies, though some markets could get relief from the gradual restart of an oil Continue Reading
Oil prices mixed on Canadian outage update, U.S. sanctions on Iran
Oil prices were mixed on Monday, with U.S. crude lower on news about the timeline for the end of a major Canadian production outage, while global benchmark Brent gained on Continue Reading
U.S. Sanctions Could Add $50 To Oil Prices
To be sure, much of the oil world is focused on the supply fears in the near-term. The outages in several OPEC nations, plus the tightening noose on Iran from Continue Reading
Bernstein: Oil May Jump Past $150 On Chronic Underinvestment
A supply shortfall is lurking should major oil companies continue to underinvest in exploring for new oil reserves, and this “chronic underinvestment” is setting the stage for the next super-cycle Continue Reading
The End of Oil and Gas
The end of oil and gas has been predicted on a regular basis since 1885, yet today we use more of both than ever before and no end is in Continue Reading
Do not blame OPEC, oil producer group says of Trump criticism
The president of OPEC defended the oil producer group on Monday against U.S. President Donald Trump’s recent demands for higher oil output, saying OPEC does not shoulder the blame. “OPEC Continue Reading
Saudi Aramco’s $2 Trillion Zombie IPO
It was the moment Saudi Arabia’s reforming young prince told the world he meant business. In early 2016, Mohammed bin Salman said he planned to sell shares in the kingdom’s Continue Reading
European Parliament president arrives in Tripoli
With oil production woes pressuring the Libyan economy, the president of the European Parliament said Monday that Libyan security means European security. European Parliament President Antonio Tajani met Monday in Continue Reading
New discovery highlights Egypt’s potential as emerging oil producer
A new oil discovery in the Western Desert of Egypt could unlock a new area for productivity gains in the country, Italian energy company Eni said Monday. Eni said it Continue Reading
More Western Energy Companies Leave Iran
Iran is still trying to get EU help as more western companies exit the country ahead of renewed sanctions imposed by the U.S. In more bad news for the Islamic Continue Reading
Asian Buyers Look To Replace Iranian Oil Amid U.S. Sanctions
Asian oil customers are looking to secure more oil supplies from Saudi Arabia, Kuwait, and Iraq, to replace oil from Iran after the U.S. announced the new sanctions on Tehran, Continue Reading
South Korea Rejects Reports Of Iranian Oil Import Suspension
“The embassy of the Republic of Korea denies any claims that it would not lift any Iranian crude and condensate in July,” Xinhua reported on Saturday, after last week Reuters Continue Reading
Protestor killed in services protest outside Basra oil field
Iraqi security forces shot protestors in an escalation of chronic frustration with a lack of jobs and services, including salty water that shut down the Basra refinery.One protestor was confirmed Continue Reading
Iran says U.S. sanctions to bite, but will sell as much oil as possible
Iranian Vice President said on Tuesday it would be a mistake to think the fresh U.S. sanctions against Tehran would have no impact on Iran’s economy when Washington has started Continue Reading
Iraq extends bid deadline for Kut oil refinery project
Iraq has extended the deadline for foreign companies and investors to bid for a project to build a 100,000 barrel-per-day refinery in Kut province, the oil ministry said on Tuesday. Continue Reading
Iran Sanctions Are Different This Time
The Trump administration is trying to replicate the Obama-era strategy of shutting in Iranian oil exports as a way to pressure the regime into making a series of concessions. But Continue Reading
Oman data: Oil output surges to 16-month high
Oman’s crude oil and condensate production in June jumped to its highest in 16 months, another sign that key producers in the Middle East are beginning to pump more oil, Continue Reading
Mozambique ready for next LNG phase
Exxon Mobil and Eni announce they’ve submitted the development plans for a liquefied natural gas facility to the Mozambique government for approval. Photo courtesy of Eni July 9 (UPI) — Continue Reading
PDVSA’s oil sales to U.S. bounced in June; Caribbean stocks drained
Venezuelan crude sales to the United States recovered in June from May as state-run PDVSA exported more of its diluted oil to its customers and drained inventories from two Caribbean Continue Reading
China reviewing low-carbon efforts
Chinese officials boasted of advances in the fight against air pollution, through a shifting energy landscape could carry a cost, a consultant group said. An air monitoring report published Monday Continue Reading
Asia Is Leading The Renewable Energy Race
As the era of fossil fuels comes to a close, it’s time to start seriously considering an all-electric future, as well as all of the costs and benefits that come Continue Reading
Chinese Refiner Stops U.S. Oil Imports, Turns To Iranian Crude
An independent Chinese refiner has suspended crude oil purchases from the United States and has now turned to Iran as one of its sources of crude, media reports , citing Continue Reading
Chinese Production Of Banned Chemical Blamed For Ozone-Depleting Emissions
Illegal Chinese production of a banned crude oil-derived chemical used for cheap home insulation is thought to be the main source of rising emissions of gas that is damaging the Continue Reading
Suncor offers timeline for Syncrude restart
Canadian energy company Suncor said its Syncrude oil sands facility, crippled by a June power outage, will be back at full capacity by September. U.S. crude oil prices were supported Continue Reading
Why Natural Gas Hasn’t Dethroned Gasoline
In some parts of the world, such as the Balkans, gasoline cars retrofitted with natural gas tanks are a common sight on roads. In others, such the United States, such Continue Reading
NYMEX August gas falls as dry gas output hits another record
The NYMEX August natural gas futures contract fell 3 cents Monday to settle at $2.828/MMBtu, a day after dry gas production in the US hit a record high and despite Continue Reading
More on LTO Economics in the Bakken
The goal for any commercial company is to make as high as possible profit and returns on invested (employed) capital, primarily the owners’ capital, equity. Light Tight Oil (LTO) extraction Continue Reading
Could U.S. Oil Become Part Of The Brent Benchmark?
Rising U.S. crude oil exports are upending global oil trade and oil flows to various regions in the world, snatching up market share in Asia and Europe from the traditional Continue Reading
Despite renewables gains, gas leads new US generation
Dive Brief: Despite the rise of renewable energy and the struggles of older plants such as coal, the United States’ energy infrastructure remains dominated by fossil fuels, according to the Continue Reading
Exclusive: France’s Total prepares sale of $1.5 billion of UK North Sea fields
France’s Total is set to sell a third of its stake in Laggan Tormore gas field along with other oil and gas assets in Britain’s North Sea that could fetch Continue Reading
Russia’s Finance Ministry Warns Of Another Price Collapse
If prices remain at their current level, another collapse could be around the corner, the Russian Finance Ministry has warned in a report, cited by Sputnik. According to the report, Continue Reading
Church Of England To Divest From Oil Firms That Don’t Fight Climate Change
The Church of England voted on Sunday to divest from oil and gas companies after 2023 if it finds them lacking in tackling climate change. The Church of England’s General Continue Reading
Oil steadies as drilling increases in tight market
LONDON (Reuters) – Oil prices steadied on Monday as an increase in U.S. drilling, likely to lead to higher shale production, balanced evidence of tightening supply. Benchmark Brent LCOc1 was Continue Reading
The world price of oil can significantly increase
Мировые цены на нефть могут значительно повыситься It is expected that the price of oil will reach $ 150 per barrel. Oil prices in the short term could rise to Continue Reading
10 years after the oil price spike: Is peak oil a process rather than a moment?
Ten years ago this week—July 11, 2008 to be exact—the price of a barrel of oil on the New York Mercantile Exchange hit an intraday high of $147.27 , its Continue Reading
Shipowners on Pace to Scrap $1 Billion in Oil Tankers This Year
Dire freight rates are pushing shipowners to scrap a record number of the biggest oil tankers this year, making it a bumper period for recycling yards in South Asia. Very Continue Reading
How Bad Is Iran’s Oil Situation?
The U.S. government has continued its attempts to shut down Iran’s oil exports, and in recent days Iranian officials responded by threatening to block the Strait of Hormuz. Such an Continue Reading
Saudi Aramco chief warns of oil supply crunch Amin Nasser says investment in projects such as shale will not be enough to meet demand
The oil industry risks a supply crunch as big energy companies focus on US shale and other short-term efforts over the long-term mega-projects seen in years past, the head of Continue Reading
Pricier Fuel to Test Airline Profits
U.S. airlines are aiming to convince investors that surging fuel costs won’t knock a record stretch of profitability off course. Some investors say airlines won’t be able to raise prices Continue Reading
Nigeria: Is Nigeria Preparing for Life Without Oil?
Oil is the lifeblood of the modern world. Its importance in the global economic scene cannot be overemphasised. Without oil, industrialisation of the world would have not happened at the Continue Reading
Nigeria: Village Head, Four Others Arrested for Allegedly Abducting 19 Oil Workers
The Akwa Ibom Police Command on Sunday confirmed the arrest of a village head and four suspects for allegedly abducting 19 ExxonMobil staff members. MacDon Achebe, the State Police Public Continue Reading
Mexico’s Next President Aims To End Foreign Fuel Imports In Three Years
Mexican President-elect Andres Manuel Lopez Obrador will seek to end the country’s massive fuel imports, nearly all from the U.S., during the first three years of his term while also Continue Reading
‘A good living but a rough life’: trucker shortage holds US economy back
The Miracle Mile in Carlisle, Pennsylvania, is a vital capillary in the US freight transport system. Linking interstate highway 81 to the Pennsylvania Turnpike, the road is just an overnight drive Continue Reading
Penske Truck Leasing and NFI Industries starting to test the first fully electric Freightliner trucks from end of 2018 onwards
In June, Daimler Trucks presented two new fully electric trucks from its US-subsidiary Freightliner. Now, Daimler announced the two first customers to operate the e-vehicles within their fleet: a total Continue Reading
Falling Lake Mead Water Levels Prompt Detente in Arizona Feud
Arizona is the odd state out in agreeing to dramatically curtail water use from the Colorado River, raising tensions in the Southwest as extreme drought conditions return. At issue are Continue Reading
Global Warming Could Be Double What Models Predict
An international team of researchers suggest that future global warming may eventually be twice as warm as projected by climate models Global warming could be much worse than predicated by Continue Reading
Brent Falls Back On Saudi Supply Surge
Oil prices fell slightly Friday morning after an EIA report highlighting an unexpected build in crude inventories, with a Saudi supply surge adding further downward pressure on the crude market. Continue Reading
Bernstein: Oil May Jump Past $150 On Chronic Underinvestment
A supply shortfall is lurking should major oil companies continue to underinvest in exploring for new oil reserves, and this “chronic underinvestment” is setting the stage for the next super-cycle Continue Reading
There Are Fears About an Oil Spike Above $150
Oil investors may regret urging companies to cough up cash now instead of investing in growth for later as the dearth of exploration is setting the stage for an unprecedented Continue Reading
Iranian oil minister calls Trump’s order to OPEC insulting
Iran’s oil minister on Saturday accused U.S. President Donald Trump of insulting OPEC by ordering it to increase production and reduce prices, adding Iranian oil production and exports had not Continue Reading