With President Nicolás Maduro’s radical new plan to curb runaway inflation poised to come into effect Monday, Venezuelans braced for what experts say could soon be a deeper plunge into Continue Reading
Highlights Hyundai Oilbank to crack heavier crude even more efficiently Mexican Maya crude seen economical for better cracking margins Gearing up for IMO 2020 rule with upgraded crackers Singapore — Continue Reading
After several months of what can only be only called bad PR and troubling news coming out of the ExxonMobil-led $19 bn Papua New Guinea (PNG) LNG project, finally some Continue Reading
China’s banking regulator has ordered banks to boost lending to infrastructure projects and exporters as the government seeks to bolster economic confidence on the eve of a new round of Continue Reading
The oil market has suddenly gone south in recent weeks, with cracks in the global economy starting to drag down oil. The U.S.-China trade war is one of the drivers Continue Reading
Our friends over at Ursa published a blog post yesterday discussing crude inventories at Kyaukphyu in Myanmar, highlighting the seeming political nature of recent crude flows to the storage hub. Continue Reading
A broad cross-section of U.S. businesses has a message for the Trump administration: new tariffs on $200 billion of Chinese imports will force Americans to pay more for items they Continue Reading
Big trouble is brewing in the mighty North Dakota Bakken Oil Field. While oil production in the Bakken has reversed since it bottomed in 2016 and increased over the past Continue Reading
The timing of the report is not ideal, coming amidst a currency crisis in Turkey, which has raised fears of financial contagion in other emerging markets. The strength of the Continue Reading
Japan is set to import a Masila crude oil cargo from Yemen for the first time since 2015 as part of its efforts to expand its supply sources. The move Continue Reading
Researchers at the University of Michigan have developed a new rechargeable technology for batteries that could have double the power output compared to today’s most-widely used batteries, without catching fire Continue Reading
The controversy of the Trans Mountain pipeline expansion projects has so far focused more on the implications of the project’s delay for Albertan crude oil producers. Yet, the developments around Continue Reading
Russia’s Nord Stream 2 natural gas pipeline project should stay out of politics and be protected from potential attacks, Kremlin spokesman Dmitry Peskov said Sunday, following a meeting between Russian Continue Reading
WTI Crude prices were up early on Friday but still headed for a seventh consecutive weekly loss— the longest losing streak since 2015 —as fears of escalating trade wars and Continue Reading
Crude futures settled higher Friday as the possibility of supply disruptions in Libya trumped last week’s US crude build. Receive daily email alerts, subscriber notes & personalize your experience. Register Continue Reading
Crude prices edged higher on Friday, but retreated from session highs and were headed for another weekly decline on worries that oversupply would weigh on the U.S. market while trade Continue Reading
Two of the world’s largest energy-focused hedge funds, Andurand Capital and BBL Commodities, suffered double-digit percentage losses in July as oil prices plunged by the most in two years, sources Continue Reading
Turkey’s currency crisis has raised fears of destabilization in emerging markets. With higher financial risks in mind, traders sold off oil. EIA’s bearish report. The EIA reported a 6.8-million-barrel increase Continue Reading
Persisting security concerns over Libya’s oil export capacity and the political divisions in the country fetch large tanker freight premiums for shipowners daring to call at Libyan ports for crude Continue Reading
China will continue its cooperation and relations with Iran, state news agency Xinhua reported on Friday, citing a statement from Chinese State Councillor Wang Yi. The Joint Comprehensive Plan of Continue Reading
A U.S. State Department official has suggested that Washington could impose sanctions on China if it continues to buy Iranian oil after November 4 when sanctions specifically targeting Iranian oil Continue Reading
Saudi state oil giant Saudi Aramco remains committed to meeting future oil demand through continued investments, the kingdom’s Energy Minister Khalid Al Falih said in a company report on Friday. Continue Reading
Dozens of Iraqis on Thursday staged a sit-in in the southern, oil-rich city of Basra to protest the reported death of a protester — and the injury of several others Continue Reading
The Nigerian National Petroleum Corporation will float 40 percent of its stock on the local stock exchange once the President signs the Petroleum Industry Governance Bill, Nigerian media report . Continue Reading
French supermajor Total will increase Nigeria’s oil production by 200,000 bpd by the end of the year, a senior official from the local unit of the company said at an Continue Reading
Jittery Venezuelans on Friday rushed to shops and lined up at gas stations on concerns that a monetary overhaul to lop off five zeros from prices in response to hyperinflation Continue Reading
Panama on Friday will sign an agreement with the U.S. Treasury and Energy departments aimed at paving the way for more private investment to expand the importation and distribution of Continue Reading
China’s largest lithium battery maker Contemporary Amperex Technology Ltd (CATL) plans to begin producing in 2019 next-generation nickel-rich batteries, which are cheaper to make and have longer life-spans, according to Continue Reading
The Trump administration next week plans to formally propose a vast overhaul of climate change regulations that would allow individual states to decide how, or even whether, to curb carbon Continue Reading
The U.S. energy regulator has approved a request by Cheniere Energy to feed the first gas into its new liquefied natural gas (LNG) facility in Corpus Christi, Texas, marking the Continue Reading
Gas production in North Dakota’s Bakken Shale remains strong, but the inability to gather and process all the volumes led operators to flare nearly 17%, or 388 MMcf/d, of all Continue Reading
Highlights Permian rigs up by one to 486, highest since January 2015 In Q2, capex guidance rose more than production guidance ‘Vast majority’ of oil growth largely weighted to H2: Continue Reading
Baker Hughes reported no change to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs stayed at 1,057 , according to Continue Reading
North Dakota oil production dropped nearly 2 percent in June as producers scaled back activity, primarily to keep natural gas flaring from exceeding state limits, the state’s top oil regulator Continue Reading
The Glen Canyon Dam in Arizona creates Lake Powell, which holds only 43 percent of its capacity this year. The reservoir is part of a system that supports 40 million Continue Reading
U.S. energy companies kept the oil rig count unchanged this week amid a steady decline in crude prices, which hit a near two-month low earlier this week. The rig count, Continue Reading
Stiff new U.S. sanctions against Russia would only have a limited impact on its oil industry because it has drastically reduced its reliance on Western funding and foreign partnerships and Continue Reading
The ‘bill from hell’ of hard-hitting sanctions against Russia that U.S. Senators introduced earlier this month is unlikely to have a wide-ranging impact on Russia’s oil industry, analysts and economists Continue Reading
Oil prices fell on Friday, with U.S. crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products as Continue Reading
Oil rose slightly as global markets steadied on Thursday, recovering some of the previous day’s 2 percent slide, though a weakening outlook for crude demand kept prices in check. The Continue Reading
U.S. crude oil inventories increased by an astonishing 6.8 million bbl last week, according to the Energy Information Administration. Builds of this size are unusual for the summer in light Continue Reading
German company ADL and Iran’s Sepahan Oil Company (SOC) have signed an agreement to cooperate in technology transfer in oil and gas industry lubricants, Iranian media report. European embassies have Continue Reading
The Basra Oil Company (BOC) and Chevron on Thursday agreed to terms of a confidentiality agreement that could see the U.S. oil giant study – and boost production from – Continue Reading
A new report by Power Technology shows that India is taking the race very seriously, with five of the nine largest solar installations in the world. China and the U.S. Continue Reading
A cheaper rupee could increase India’s crude oil bill by as much as US$26 billion in FY 2018/19, according to Indian government officials. The currency hit a low of 70.32 Continue Reading
U.S. Energy Secretary Rick Perry praised the goal set out by Mexico’s incoming president to end massive gasoline and diesel imports, nearly all of which come from the United States, Continue Reading
On July 27, Mexican president-elect Andrés Manuel López Obrador said his government will earmark more than $9 billion for state-run energy companies next year and start working on a new Continue Reading
Although China has backpedaled on proposed tariffs on U.S. crude imports, the move is indicative of its need to diversify sources and steps may now be taken to enable China Continue Reading
China Gas plans to increase its annual imports of liquefied petroleum gas from 2.8 million tons to 10 million tons during the next five years as it enters the petrochemicals Continue Reading
The new U.S. special representative for Iran said Thursday the Trump administration is prepared to impose sanctions on all countries that buy oil from Iran after a deadline in November, Continue Reading
