Production from an oil reservoir in the Kurdish north of Iraq has increased by more than 60 percent, Norwegian energy company DNO announced Tuesday. After completing testing on its fourth Continue Reading
There is one big hitch in U.S. plans to stem buying of Iranian oil: China. Some in Washington now expect that China will vacuum up much of the Iranian oil Continue Reading
The Trump administration has been going back and forth over how hard it plans on pushing countries to cut their imports of Iranian oil to zero. After softening the tone Continue Reading
Venezuela’s Oil Minister Manuel Quevedo has discussed plans with state-held oil company PDVSA to raise the country’s crude oil production in the second half of the year. While Venezuela and Continue Reading
In the past, oil has accounted for 96 percent of Venezuela’s exports and over 40 percent of government revenues. Now, as the nation’s economy continues to crumble amid sanctions, political Continue Reading
Venezuela oil production has plummeted. Where would oil prices be without Venezuela’s collapse? Where are oil prices headed next? This idea was discussed in more depth with members of my Continue Reading
U.S. retail gasoline prices have remained relatively stable over the last month, though that masks some underlying volatility, analysis finds. Motor club AAA reported a national average retail price of Continue Reading
Consumers should expect higher prices on imported cars if President Donald Trump’s proposed 25% tariff on foreign-built vehicles shipped into the U.S. is enacted, according to car sellers. Car makers Continue Reading
Michael Wirth, Chevron’s new chief executive, has said the company plans to maintain a tight grip on capital spending, despite the surge in oil prices over the past year and Continue Reading
Zoox, a secretive driverless car start-up, has raised $500m in new funding as it gears up to take on larger rivals, including Alphabet’s Waymo and GM’s Cruise. The deal valued Continue Reading
“Germany is totally controlled by Russia. They will be getting between 60 and 70 percent of their energy from Russia and a new pipeline.” President Trump’s point was that Germany’s Continue Reading
The contract is expected to launch in third quarter of 2018 and will have physical delivery in Houston. The Intercontinental Exchange Inc. (ICE) has plans to launch a Permian West Continue Reading
Canadian oil sands production will rise more than half a million barrels per day in 2019 and growth will moderate thereafter, according to a forecast by data firm IHS Markit. Continue Reading
Ukraine and Russia said they will hold further European Union-mediated talks on supplying Europe with Russian gas, in a key first step toward renewing Ukraine’s gas transit contract that expires Continue Reading
Russian Energy Minister Alexander Novak said on Tuesday that three-way talks with Ukraine and the European Union would continue in the autumn, after he met representatives from Kiev and the Continue Reading
Oil prices fell for a second day on Tuesday as worries about possible disruptions to supply eased and as investors focused on potential damage to global growth from the festering Continue Reading
Oil prices slumped more than 4 percent on Monday, with Brent reaching a three-month low, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers. Continue Reading
Oil prices extended early losses on Monday, dropping about $3 a barrel, after Treasury Secretary Steve Mnuchin said some crude importers may receive waivers to continue buying supplies from Iran, Continue Reading
Peak oil demand is expected to come around 2036 as electric vehicles and autonomous vehicles are expected to play an increasingly important role in the world’s transportation sector, the Financial Continue Reading
Investment bank Goldman Sachs expects volatile oil prices in the short-term on the back of uncertainty over possible disruptions to supply, with benchmark Brent crude in a $70-80 per barrel Continue Reading
The 4.2% plunge in U.S. oil prices Monday was the latest sign that the dynamics shaping the biggest commodity market have changed since the crude rally began. Last year, two Continue Reading
If it’s not too high, it’s certainly too low—at any rate, it’s never just right, because the odds that a forecaster, of all the possible numbers available, picked exactly the Continue Reading
A senior Iranian oil official urged U.S. President Donald Trump not to use the nation’s Strategic Petroleum Reserve to push prices lower, and instead drop sanctions on Iran’s crude exports. Continue Reading
Saudi Arabia is reminded of its obligations to production quotas outlined by an OPEC-led agreement brokered in late 2016, Iran’s oil minister said Monday. The latest survey from commodity pricing Continue Reading
Iran is urging U.S. President Donald Trump not to tap the U.S. Strategic Petroleum Reserve (SPR) to bring oil prices down, but drop the sanctions against Tehran instead. A senior Continue Reading
Iran’s oil exports could fall by as much as two-thirds by the end of the year because of new U.S. sanctions, putting oil markets under huge strain amid supply outages Continue Reading
Highlights Khafji, Wafra field capacity 500,000 b/d Officials seek to resolve remaining issues Return could stave off market shortage London — Saudi Arabia and Kuwait are making headway towards a Continue Reading
A protester holds a sign that reads “We ask the decision makers to provide the things we are deprived of” during a protest in south of Basra, 16 July At Continue Reading
After a relatively stable spell, Libya’s oil production has see-sawed again because of a standoff at eastern export terminals and the abduction of two workers at the giant Sharara oilfield. Continue Reading
About 200 protesters gathered at the main entrance to Iraq’s Siba natural gas field on Monday, police sources said, following more than a week of unrest over poor services sweeping Continue Reading
Authorities in southern Iraq are concerned about the risk to the nation’s oil given the political unrest gripping Basra, Iraqi media reported Monday. Iraqi newspaper Al-Mada said internet service in Continue Reading
Africa-focused SDX Energy said Monday it achieved success at an emerging natural gas reservoir that could be in production by the fourth quarter. The company in June announced the discovery Continue Reading
Just a few days after Libya reopened its eastern oil ports and started to ramp up production that had been offline for weeks, production at one of the country’s largest Continue Reading
Feature The tragic — and totally avoidable — self-destruction of one of the world’s richest oil economies. In the spring of 1959, at a secretive meeting at a yacht club Continue Reading
Russia’s energy ties to China have been discussed at length throughout our website – the construction of the 38 BCm per year Power of Siberia gas pipeline, seaborne sales of Continue Reading
As liquefied natural gas (LNG) markets mature, trying to establish itself against decades of crude oil dominance, developments far removed from most of the action are taking unusual turns that Continue Reading
The pace of growth in China’s crude imports may slow in H2 as a cocktail of lower runs at independent refiners, potential delays in the start up of some refineries Continue Reading
While oil production from U.S. shale basins has been relentless, it will be other producers contributing to long-term supply growth, Wood Mackenzie found. Total U.S. oil production for the week Continue Reading
US unconventional oil production is projected to rise 143,000 b/d in August to 7.470 million b/d, the US Energy Information Administration said Monday, the second-highest month-to-month volume growth increase since Continue Reading
A $1.1 billion U.S. shale pipeline on Monday was denied an exclusion to the Trump administration’s tariff on imported steel, the first such ruling on a major energy project since Continue Reading
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
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
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
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
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
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
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
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 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 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
