South Korea is seeking a sanctions waiver from the US to continue importing Iranian condensate, saying that it is hard to find alternative sources due to limited suppliers, a government Continue Reading
U.S. natural gas futures fell 1 percent to a more than one-week low on Thursday after the release of a federal report, which showed a weekly storage build that was Continue Reading
Results from a U.S. auction for drilling rights in the Gulf of Mexico showed companies are willing to spend again, but expectations were low, experts said. An auction Wednesday for Continue Reading
Canada’s energy regulator on Thursday said it had given the go-ahead for the construction of a large portion of the Trans Mountain expansion project, which will nearly triple capacity on Continue Reading
Oil market investors and analysts are currently very much focused on the demand side, with concerns over the potential of trade wars to curb oil demand growth. On the supply Continue Reading
A U.S. federal judge ruled that the State Department must conduct a new environmental review of the project after the pipeline’s route was changed. The State Department is responsible for Continue Reading
Pointing to a high level of success for its assets in the Kurdish north of Iraq, Norwegian company DNO said it was paying its first dividend in 13 years. The Continue Reading
The Norwegian government reported results Thursday from an appraisal well in the North Sea that were better than operator Equinor expected. The Norwegian Petroleum Directorate, the nation’s energy regulator, reported Continue Reading
The consortium managing the second leg of the Nord Stream gas pipeline from Russia to Europe said it has all the permits needed for Russian installation. Russian energy company Gazprom Continue Reading
Russia has moved one step closer to seeing its controversial Nord Stream 2 natural gas pipeline become a reality. On Wednesday, the consortium managing the pipeline said that it has 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
Can the global climate be stabilized before runaway change creates conditions that are too hot for human civilization and deadly for most species? Leading Earth System scientists warn: “The Earth Continue Reading
Crude oil futures remained steady Thursday during the European morning trading session following the release of bearish Energy Information Administration data Wednesday and news that the US and China will Continue Reading
Oil prices steadied Thursday after commodities prices, led by metals, fell as investors worried that an economic slowdown in emerging markets and China could harm demand. Brent crude, the global Continue Reading
Oil edged higher as global markets steadied on Thursday, recouping some of the previous day’s 2 percent slide, though a weakening outlook for crude demand kept prices in check. The Continue Reading
Oil futures fell more than $2 a barrel on Wednesday after data showed U.S. crude stockpiles jumped last week, compounding worries about a weaker global economic growth outlook. Brent crude Continue Reading
While the oil market and analysts are trying to guesstimate how much Iranian oil the U.S. sanctions will stifle later this year, they all agree that the return of the Continue Reading
The oil and gas industry has been in recovery mode for at least a year now, and although the improvement in performance is clearly there, the pace of the recovery Continue Reading
Tough new rules on marine fuel are forcing shipowners to explore liquefied natural gas as a cleaner alternative and ports such as Gibraltar are preparing to offer upgraded refueling facilities Continue Reading
Libya’s crude oil production has exceeded 1 million bpd for the first time since June, when port blockades and a kidnapping caused production outages that within a month brought production Continue Reading
Iraq and Turkey must reach a deal with the Kurdistan Regional Government (KRG) first in order to export oil from the Kirkuk fields in northern Iraq via Turkey, Kurdish officials Continue Reading
German state-owned rail operator Deutsche Bahn [DBN.UL] is phasing out projects in Iran after Washington imposed new sanctions against Tehran and said firms doing business with Iran would be barred Continue Reading
Turkey faces another big problem after it deals with the immediate impact of its currency crisis : How is it going to pay for its dependence on imported oil and Continue Reading
Africa in the next three years. The Chief Strategist at the NNPC, Mr. Bala Wunti disclosed this. Wunti, who is the Group General Manager, Corporate Planning and Strategy of the Continue Reading
As Venezuela and its state-owned oil firm PDVSA lurch from crisis to crisis, defaulted creditors are jockeying for position to ensure they are among the first to receive cash when Continue Reading
The Nigerian National Petroleum Corporation (NNPC) and a Chinese consortium have met in Dubai, United Arab Emirate, to work towards finalising the term sheet for financing of the 614 kilometres Continue Reading
Savannah Petroleum declares success at its latest oil exploration campaign in Nigeria. Photo courtesy of Savannah Petroleum Aug. 15 (UPI) — The latest confirmed oil discovery in a basin in Continue Reading
Venezuela has made a payment to a mining company using government bonds instead of cash, potentially the first time it has done so since U.S. sanctions last year barred similar Continue Reading
The future is looking grim for foreign resource companies with investments in Indonesia. In the current election cycle, it has become increasingly politically popular to push for repatriation of the Continue Reading
BEIJING (Reuters) – China will hold a fresh round of trade talks with the United States in Washington later this month, Beijing said on Thursday, offering a glimmer of hope Continue Reading
China and the U.S. reached a modest breakthrough in their standoff over trade, saying they will hold lower-level talks later this month on the spiraling dispute. China’s Commerce Ministry said Continue Reading
President Donald Trump’s first year in office must have been a pleasant surprise for Chinese President Xi Jinping. A successful state visit in Beijing and an apparent personal chemistry between Continue Reading
In a recent paper in Science of The Total Environment, a team of Chinese researchers created a model of the Urumqi No. 1 catchment in Xinjiang, China, and made a Continue Reading
A lack of pipeline capacity is hampering Permian Basin crude oil and natural gas production. Pipelines that were adequate a few years ago are now overwhelmed due to the tremendous Continue Reading
NEW YORK (Reuters) – Oil companies bid on less than 1 percent of the parcels offered in a sweeping U.S. auction of Gulf of Mexico exploration leases on Wednesday, showing Continue Reading
U.S. crude oil stockpiles jumped unexpectedly last week despite record high refinery runs, while gasoline stocks decreased and distillate inventories grew, the Energy Information Administration said on Wednesday. “We’ve gotten Continue Reading
A $9.2 billion all-stock acquisition creates one of the larger entities working in the Permian shale basin in the United States, Diamondback Energy announced. Diamondback announced the all-stock acquisition of Continue Reading
Nutshell-Overview Crude-by-Rail (CBR) has been a savior for North American producers seeking higher returns for heavily discounted crudes caused by a lack of pipeline take-away capacity. And CBR, once again, Continue Reading
Houston — The US Gulf Coast refining complex processed more crude than ever before last week, according to data from the US Energy Information Administration released Wednesday. Receive daily email Continue Reading
The NYMEX September natural gas futures contract decreased Wednesday as strong dry gas production continued to halt the momentum the market gained in the last few days. As of 10:24 Continue Reading
A federal judge in Montana on Wednesday ordered the U.S. State Department to do a full environmental review of a revised route for the Keystone XL crude oil pipeline, a Continue Reading
Texas environment regulators should coordinate shutdowns of oil refineries and other petrochemical plants during major storms to avoid big releases of air pollution like during last year’s Hurricane Harvey, a Continue Reading
A federal judge rejected Exxon Mobil Corp’s motion to dismiss a securities suit alleging the company and top executives misled investors about the impact of climate change on its business. Continue Reading
Nevada’s Lake Mead, the biggest reservoir in the West, is on track to fall below a critical threshold in 2020, according to a new forecast by the Bureau of Reclamation. Continue Reading
BP’s blockbuster $10.5bn deal for a portfolio of shale oil assets from BHP Billiton was not only its biggest acquisition in almost 20 years, it signalled the company’s big comeback Continue Reading
Output in the Permian basin is already starting to slowdown, largely due to pipeline constraints. However, there is also a series of other data points that suggests that shale drillers Continue Reading
The Norwegian government reported Wednesday that total greenhouse gas emissions were lower, with declines in pollution from road traffic leading the way. Statistics Norway, the government’s record-keeping agency, published data Continue Reading
Oil prices fell on Wednesday, weighed down by a report of rising U.S. crude inventories and as the outlook for global economic growth darkened, stoking expectations of lower fuel demand. Continue Reading
Oil prices edged lower on Tuesday, weighed down by a strengthening U.S. dollar as investors remained concerned about the financial crisis in Turkey. Brent crude LCOc1 dipped 15 cents to Continue Reading
Cyclical indicators point to slower and more uneven growth in the global economy for the rest of this year and into 2019, which means the rise in oil consumption is Continue Reading
