U.S. shale oil output expected to hit record high in August: EIA
U.S. oil output from seven major shale formations is expected to rise by 143,000 barrels a day to a record 7.47 million barrels per day in August, the U.S. Energy Continue Reading
Trump’s Ultimate Move To Lower Gasoline Prices
President Trump is reportedly considering tapping the strategic petroleum reserve to lower gasoline prices in an effort to neuter a political threat ahead of key midterm elections in November. Sources Continue Reading
EIA: Seven Major US Shale Regions To Hit New Production Records
Oil production in the seven most prolific US shale regions will hit new highs next month, according to the Energy Information Administration’s monthly Drilling Productivity Report released on Monday afternoon. Continue Reading
Ontario Kills Renewable Energy Projects To Bring Bills Down
The new Ontario government is canceling or winding down 758 renewable energy contracts that will see more than 200 projects killed off in southwestern Ontario as the newly sworn-in government Continue Reading
US shale sector underpinning global upstream spending recovery: IEA
Highlights Global upstream capex seen rising 5% in 2018 US shale expected to turn profitable in 2018 Exploration capex slumps to record low London — Global oil and gas sector Continue Reading
Domestic Unrest Threatens OPEC’s No.2
Iraq’s future is again tottering with protests erupting of the country. Baghdad is being confronted by internal unrest, as economic and social problems have spilled over into the political arena. Continue Reading
Strikes offshore Norway escalate
A labor group representing offshore employers in Norway said the nation’s reputation as an oil and gas producer was at stake because of strikes. As promised, an offshore trade union Continue Reading
Gazprom’s Next Giant Gas Field
The Yamal peninsula is already producing natural gas and is also home to one of Russia’s already operational liquefied natural gas (LNG) projects—Yamal LNG—run by another domestic gas producer, Novatek. Continue Reading
Oil prices fall but supply tight with focus on outages
Oil prices slipped on Monday as concerns about supply disruptions eased and Libyan ports reopened while traders eyed potential supply increases by Russia and other oil producers. But global supply Continue Reading
Oil Falls as Saudis Offer More Supply, U.S. Weighs SPR Release
Oil retreated below $71 a barrel as Saudi Arabia was said to offer extra crude to some customers, while the U.S. reportedly considered tapping emergency supplies, to offset output losses Continue Reading