The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent WTCLc1-LCOc1 in just a month, as Continue Reading
International companies active in Iran face the threat of US sanctions within weeks after Washington rebuffed a high-level European plea to exempt crucial industries that would help keep a nuclear Continue Reading
European companies have invested heavily in Iran’s energy sector The US has rebuffed high-level pleas from the European Union to grant exemptions to European companies from its sanctions against Iran. Continue Reading
Iran’s oil minister told his Saudi Arabian counterpart that last month’s OPEC supply pact does not give member countries the right to raise oil production above their targets, according to Continue Reading
Iran is pinning its hopes on Asian oil consumers as it battles to protect crude exports and shield its economy from tough US sanctions. The US has been lobbying oil Continue Reading
European companies have invested heavily in Iran’s energy sector The US has rebuffed high-level pleas from the European Union to grant exemptions to European companies from its sanctions against Iran. Continue Reading
Iran’s supreme leader on Sunday called on state bodies to support the government of President Hassan Rouhani in fighting looming U.S. economic sanctions, saying America’s “conspiracy” could be defeated, according Continue Reading
Curfews have been imposed, troops put on the streets and the internet reportedly shut down. Burgeoning protests in Iraq against corruption and poor services represent a major challenge and risk Continue Reading
Shell lifted the force majeure on exports of Nigerian crude Bonny Light on Friday following the repair and reopening of the Nembe Creek Trunkline (NCTL) by the operator, it said Continue Reading
China is expected to report a modest slowdown in second-quarter economic growth on Monday, as the government’s efforts to tackle debt risks crimp activity and a trade war with the Continue Reading
Higher oil prices play a role in this, but the main culprit is a new tighter tax regime on independent Chinese refiners, which is already choking the refining margins and Continue Reading
China’s economy expanded by 6.7 percent in the second quarter, its slowest pace since 2016, as the impact of an aggressive deleveraging campaign curtailed investment in infrastructure. The pace of Continue Reading
Oil is rising in spite of growing U.S. production. Shale output is “short-cycle”, making it less risky. As capex flows to North America, it’s limiting investment elsewhere in conventional projects. Continue Reading
The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent WTCLc1-LCOc1 in just a month, as Continue Reading
In the first week of July, U.S. net imports of petroleum products fell to just 1.670 million barrels per day (mb/d), the lowest weekly total on record in at least Continue Reading
A common bacterium that lives in the human gut and can sometimes cause nasty stomach upsets can be used for good, scientists from the University of British Columbia have discovered. Continue Reading
Diogenes the Cynic was once asked by one of his students whether a man should buy or rent. His reply was typical Diogenes, but still unexpected, “Whichever he chooses, he Continue Reading
The world’s largest oil company has 30 engineers working away in this Detroit suburb on a project that sounds counterintuitive: an engine that burns less oil. But there is a Continue Reading
North America’s production of natural gas, increasingly derived from fracturing the continent’s extensive shale deposits, has in just a few short years radically scrambled the global gas market. When viewed Continue Reading
This is a story about death and resurrection, and as with all such stories, faith plays its part. Texas is by far the leading wind energy producer in the United Continue Reading
July 11, 2008 was an unforgettable day for the oil industry. The price of West Texas Intermediate — a grade of crude oil used as a benchmark in oil pricing Continue Reading
The Trump administration is actively considering tapping into the nation’s emergency supply of crude oil as political pressure grows to rein in rising gasoline prices before congressional elections in November, Continue Reading
As the world’s largest natural gas and oil producer and exporter, Russia plays an important role in setting the global geopolitical agenda. The recent agreement with OPEC is evidence of Continue Reading
The Irish government is planning to move 200,000 tonnes of its oil reserves from Britain as part of its Brexit preparations and will sign off on the move this week, Continue Reading
Oil prices held steady after Wednesday’s steep selloff, with the return of Libyan supply keeping prices in check despite reports of a tight global market. Join the world’s largest energy Continue Reading
Oil prices ticked higher Friday, as traders weighed a slew of mixed supply signals from the week and awaited further figures that could shift projections for a market deficit. Light, Continue Reading
Oil prices rose about 1 percent on Friday as strike actions in Norway and Iraq hit supplies, but futures were set for a second straight week of decline after Libyan Continue Reading
The world’s oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency said on Thursday. The expected Continue Reading
Kurds in Syria are sharing part of the oil pumped at oil fields with the Syrian government under a recently signed deal that is working, Russian news outlet Sputnik reported Continue Reading
Satellite surveillance shows that production has fully resumed at the Bai Hassan field in Iraq. The field is part of a complex of oilfields in Northern Iraq that were shut Continue Reading
Iran has touted $50bn worth of potential Russian investments in its oil and gas sector as it seeks to deepen its relationship with Moscow, amid mounting pressure from the US Continue Reading
The United States intends to impose sanctions on all customers of Iranian oil, including China, the EU, and Russia, Treasury Secretary Steven Mnuchin said on Thursday, signaling that the U.S. Continue Reading
Highlights Refiners still uncertain of which strategy to adopt Both oil ministries confident either will be flexible Indian imports of Iranian oil remain above 2017 levels London — Receive daily Continue Reading
With a British warning for Nigeria in place, there are concerns that militancy in the oil-rich Niger Delta could upend the political climate, a researcher said. The British Foreign and Continue Reading
The U.S. government put millions of acres on the table for drillers looking to tap into the billions of barrels of oil yet to be discovered offshore. Deputy Interior Secretary David Continue Reading
Between 2010 and 2016, the capacity-weighted average cost (real 2016$) of U.S. wind installations declined by one-third, from $2,361 per kilowatt (kW) to $1,587/kW, based on analysis in the U.S. Continue Reading
Baker Hughes reported an increase to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs increased by 2 rigs , according Continue Reading
Midstream operators are preparing to release financial results for the second quarter as a flurry of oil drilling activity in the Permian Basin creates the need for more pipelines to Continue Reading
Even as onshore shale has become the gleam in the US oil industry’s eye, the Gulf of Mexico remains a solid, if less glamorous, member of the domestic production profile Continue Reading
US FOB thermal coal prices strengthened in the week ending Friday as price levels in the consumer markets of Europe and India provided support despite higher dry bulk freight rates. Continue Reading
U.S. energy companies left the oil rig count unchanged this week as the rate of growth has slowed over the past month or so with a decline in crude prices Continue Reading
Syncrude Canada on Friday told buyers it would cut crude deliveries in August by about 35 percent after an outage last month at its oil sands site in northern Alberta, Continue Reading
Darren Woods spent a year preparing an ambitious plan to return Exxon Mobil Corp. XOM 0.75% to glory. Struggling with laryngitis, the oil giant’s chief executive stepped before a ballroom Continue Reading
Volatile crude oil prices reflect a volatile geopolitical climate, as well as concerns about global trade tensions, Russia’s energy minister, said Friday. Russian Energy Minister Alexander Novak addressed the price Continue Reading
London — Russian gas group Gazprom said Friday it was moving ahead with the full-scale development of the giant Kharasavey gas field on the northern Russian Yamal peninsula, as it Continue Reading
Oil prices fell more than 1 percent on Friday, set for a second straight week of decline as Libyan ports reopen and amid hopes that Iran will still export some Continue Reading
Crude oil prices recovered some of the ground lost during Wednesday’s sharp downturn after the IEA warned supplies may be “stretched to the limit.” The price for Brent crude oil Continue Reading
Oil prices steadied on Thursday after the International Energy Agency’s (IEA) warned that the world’s oil supply cushion “might be stretched to the limit” due to production losses in several Continue Reading
(Reuters) – Investment bank JP Morgan on Friday raised its outlook for oil prices, but lowered its forecast for global crude demand-growth this year amid increasing uncertainty over international trade. Continue Reading
The oil market is “stretched to the limit” despite the fact that OPEC+ agreed to ramp up production following their meeting last month, according to the International Energy Agency. The Continue Reading
