Norway’s Equinor and the Canadian province Newfoundland and Labrador have agreed to develop a deepwater oil project off Canada’s eastern coasts that will cost US$5.2 billion ( C$6.8 billion ), Continue Reading
President Donald Trump’s plan for “vast amounts” of U.S. liquefied natural gas (LNG) to be sold to the European Union after trade talks with its top representative faces a reality Continue Reading
The European Commission said Thursday it supported a French effort to work to demonstrate the potential benefits of producing electricity through tidal energy. A plant operated by British energy company Continue Reading
The Norwegian government gave Equinor consent to start production drilling in an oil field in the Norwegian Sea set for a production start next year. “We have given Equinor consent Continue Reading
Europe will build more terminals to import U.S. liquefied natural gas, the head of the European Commission told U.S. President Donald Trump during a meeting aimed at averting a transatlantic Continue Reading
Russia does not use stocks in tanks to help boost oil output and does not have enough stocks to influence the oil market, Russian Energy Minister Alexander Novak told reporters Continue Reading
Despite the many announcements for new electric vehicle (EV) models coming to the market and government initiatives to support EV adoption, UK motorists remain reluctant—if not stubborn—to make the switch Continue Reading
Moscow — Russia can restore its crude output by as much as 250,000 b/d in July as part of the recent decision by the OPEC-led coalition to increase production, energy Continue Reading
Brent crude prices rose on Thursday after Saudi Arabia suspended its oil shipments through a key Red Sea strait in response to an attack on two of its tankers and Continue Reading
US oil prices extended their gains on Wednesday after an official report showed a larger than expected draw in weekly crude and gasoline inventories. US crude stockpiles fell by 6.15m Continue Reading
Oil prices rose for the second consecutive day on Wednesday after U.S. government data showed domestic crude inventories fell to their lowest since February 2015, easing worries about oversupply that Continue Reading
An official of the International Energy Agency said Tuesday that the U.S. can’t increase oil production significantly enough to lower prices this year, and will have to depend on the Continue Reading
United States threats to throttle Iran’s international oil trade can be easily answered, the head of the elite Revolutionary Guards said on Wednesday, according to the Tasnim news agency. U.S Continue Reading
Iranian officials have suggested that they could shut the Strait of Hormuz if the U.S. moved to completely disrupt Iranian oil exports, a dire scenario that would present a supply Continue Reading
Tensions between the United States and Iran continue to rise, with U.S. President Donald S. Trump issuing a threatening tweet against Iran’s President Hassan Rouhani amidst preparations to re-impose sanctions Continue Reading
As Iraq suffers a crisis of public confidence in its May 12 election results, evidence shows the election commission failed to act on detailed UN warnings about serious problems. Iraq’s Continue Reading
Saudi Arabia’s Energy Minister Khalid al-Falih said on Thursday that the world’s top exporter was “temporarily halting” all oil shipments through Bab El-Mandeb strait immediately, after an earlier attack on Continue Reading
Yemen’s Houthis attacked a Saudi oil tanker in the Red Sea, causing slight damage, an Arab coalition said on Wednesday, after the Houthis reported targeting a Saudi warship in the Continue Reading
The Nigeria National Petroleum Corporation (NNPC), on Wednesday pledged that more than five million jobs would soon be created to alleviate the unemployment levels in the country. The Group Managing Continue Reading
Tullow Oil had threatened over the weekend to shut down its oil wells in the Lokichar basin if the government does not act soon to remedy production, security, and transportation Continue Reading
Mexico City — Mexico’s incoming President Andres Manuel Lopez Obrador faces market challenges and social concerns in his effort to increase the country’s hydropower generation capacity as he promised on Continue Reading
China’s solar power component manufacturers raised output in the first six months of the year despite dwindling market opportunities caused by a government decision to curb new capacity, an industry Continue Reading
U.S. Energy Information Administration, International Energy Outlook 2018 Note: PPP is purchasing power parity. As the world’s top producer of energy-intensive goods, China’s energy consumption is tied to both its Continue Reading
China’s crude oil imports from the US for July have fallen sharply from June, and are expected to drop even further for August, vessel tracking data showed, as Beijing’s tariffs Continue Reading
U.S. crude oil inventories last week tumbled more than expected to their lowest level since 2015 as exports jumped and stocks at the Cushing hub dropped, the Energy Information Administration Continue Reading
U.S. shale player Continental Resources reported weather-related issues for production in the second quarter but hinted at strong second-half gains. Continental is one of the more active producers in the Continue Reading
U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending July 20, 2018, which was 46,000 barrels per day more than the previous week’s average. Continue Reading
Canadian National Railway (CN) expects to move more crude oil by rail in the second half of this year as it will have more capacity on its trains, chief executive Continue Reading
Southern California Gas on Wednesday issued a system-wide curtailment order for electric generators starting at 3 pm, using procedures that could allow it to dip into Aliso Canyon if the Continue Reading
Dominion Energy Virginia’s plan to comply with sweeping energy legislation that was recently enacted includes a commitment to develop 3,000 MW of solar and wind power, along with the pursuit Continue Reading
The NYMEX August natural gas futures increased Wednesday, up 4.3 cents to $2.775/MMBtu as power burn backs off but summer demand pressure sets in amid the storage deficit. Receive daily Continue Reading
Cheniere Energy is ahead of schedule and expects to begin producing LNG by the end of the year from the first liquefaction unit at its Corpus Christi export terminal in Continue Reading
The U.S. Energy Department on Wednesday cleared the way for faster approval of small-scale exports of natural gas including liquefied natural gas to Latin American countries by issuing a rule Continue Reading
Russia’s oil production this year will increase to 551 million tonnes (11.02 million barrels per day), a new 30-year high and up by around 3.5 million tonnes from previous expectations, Continue Reading
Russian natural gas company Gazprom said Wednesday that just over 90 percent of its Power of Siberia gas pipeline to China is completed. “By now, a total of 1,214 miles, Continue Reading
Still facing protests over shale gas work, British energy company Cuadrilla Resources said its efforts were pumping millions of dollars into the local economy. The company, a pioneer in British Continue Reading
The European natural gas market needs diversity and Russian supplies are an important component of the mix, German energy company Wintershall said. Wintershall is a member of the consortium working Continue Reading
Crude oil futures were higher during mid-morning trade in Asia Wednesday amid expectations of a fall in US crude stocks and as sentiment continued to be swayed by the likely Continue Reading
Oil prices rose Tuesday on expectations China’s plan to boost government spending will keep global oil demand robust and on concerns simmering tensions between the U.S. and Iran may disrupt Continue Reading
Crude oil prices were in mixed territory ahead of the start of U.S. trading on Tuesday as Middle East tensions balanced against global trade risks. Crude oil prices settled down Continue Reading
The oil price rebound that has buoyed many embattled crude producers may not last. Ed Morse, managing director and global head of commodities research at Wall Street bank Citigroup Inc. Continue Reading
It’s summer. It’s hot. We all want to go on vacation. But for those of us who watch the oil market, there’s a nagging feeling that we won’t get to Continue Reading
Retail gasoline prices in the United States are showing signs of a steady decrease, but remain vulnerable to geopolitical tensions, analysts said. Motor club AAA reported a national average retail Continue Reading
The higher oil prices and the subsequent higher oil revenues play a part in a significantly improved outlook for the state finances and trade balances of the Arab Gulf countries, Continue Reading
Oil prices could spike as high as $200 per barrel over the next 18 months, which would cause an “economic crash of horrible proportions,” according to a new report. A Continue Reading
The American Petroleum Institute (API) reported a crude oil draw of 3.16 million barrels of United States crude oil inventories for the week ending July 21, compared to analyst expectations Continue Reading
U.S. President Donald Trump on Tuesday kept open the possibility of negotiating an agreement to denuclearize Iran, two days after he rattled his saber at the nation on Twitter. “We’ll Continue Reading
Just over a year ago, hundreds of thousands of Iranians poured on to the streets of cities across the Islamic republic to celebrate Hassan Rouhani’s landslide victory in an election Continue Reading
Anytime Iran and the United States trade threats, global oil markets snap to attention. The reason is the narrow stretch of water at the mouth of the Persian Gulf. President Continue Reading
European efforts to protect businesses investing in Iran from US sanctions risk leaving executives with the tough choice of whether to obey EU or American rules. The EU is finalising Continue Reading
