China National Petroleum Corp. is expected to take the lead on a $5 billion project to develop Iran’s share of the world’s biggest gas deposit, taking over from France’s Total Continue Reading
Like many spats these days, the Saudi Arabia/Canada one started with a tweet . Canada’s Foreign Minister Chrystia Freeland called for the release of Samar Badawi, a women’s rights activist Continue Reading
Donald Trump’s decision to leave the Iran nuclear deal and slap sanctions on Teheran is the most significant energy development of 2018. The first round of Iran sanctions, in place Continue Reading
Iran’s Supreme Leader Ayatollah Ali Khamenei accused the government on Monday of economic mismanagement and said it needed to improve its performance to help the country better weather newly reimposed Continue Reading
Nigeria is banking on the 200,000 b/d offshore Egina project to boost its production by over 10%, as the Total-operated field is expected to come online later this year. Receive Continue Reading
State-run refiner Indian Oil Corporation’s gross refining margin spiked 136% year on year to $10.21/b over April-June on inventory gains, the company said Saturday. Receive daily email alerts, subscriber notes Continue Reading
CARACAS (Reuters) – Venezuelan state oil company PDVSA is appealing a decision allowing Canadian miner Crystallex to take control of shares in U.S. subsidiary PDV Holdings as part of a Continue Reading
CEDROS, Trinidad and Tobago — In the flickers of sunlight off the cobalt blue of the Caribbean sea, the vessel appeared as a cut on the horizon. It sailed closer. Continue Reading
Energy traders were on alert when Reuters reported last week that Chinese energy giant, PetroChina – the world’s first company to hit (and lose) a $1 trillion market cap long Continue Reading
China’s top leaders huddled on their annual summer retreat on August 3, US President Donald Trump loomed large over their deliberations. Just two days earlier, Trump administration officials had said Continue Reading
In July, Venezuela’s oil production came in lower than PDVSA had targeted, according to Argus Media . While PDVSA had hoped that it, along with its joint venture partners, would Continue Reading
First it was peak oil—back in the 1970s, no less. Then it was peak oil again and again. Now we have moved up a rung and are worrying about peak Continue Reading
Royal Dutch Shell is doubling down on drilling for oil far beneath the oceans, as the energy group eyes a cash bonanza from traditional deepwater projects despite a growing focus Continue Reading
President Vladimir V. Putin of Russia has yet to translate divisions in the West into fewer sanctions against Russia. MOSCOW — From Moscow to Washington to capitals in between, the Continue Reading
The current easing of the short-term concerns about oil supply could only be temporary, because the return of the U.S. sanctions on Iran—possibly coupled with production problems elsewhere—could make maintaining Continue Reading
The IEA said in a new report that more supply from Saudi Arabia and Russia has eased supply concerns, but that the current lull in the oil market might only Continue Reading
Oil prices rose more than 1 percent on Friday as U.S. sanctions against Iran looked set to tighten supply, but futures remained lower for the week as investors worried that Continue Reading
U.S. sanctions on Iran could push oil prices up to $90 per barrel later this year. The first round of U.S. sanctions on Iran just took effect, a slew of Continue Reading
The chief commodity researcher at Goldman Sachs says the bull case for oil remains in tact despite an escalating trade dispute between the world’s two biggest economies that has stoked Continue Reading
Concerns about the lack of available oil on the market have faded, but it may be the calm before a storm triggered by U.S. sanctions, a market report found. “Concerns Continue Reading
The U.S. Administration expects that it will be able to persuade Iran’s oil customers to cut their crude imports from Tehran by as much as 1 million bpd, Bloomberg reports Continue Reading
Demonstrations continued in Basra, Missan, and Dhi Qar provinces this week as protesters criticized security force tactics and a slow government response to complaints of unemployment and poor services. The Continue Reading
Crystallex’s victory in a legal battle with Venezuela that paves the way for it to collect a $1.4 billion award hinged on a finding that state oil company PDVSA is Continue Reading
Venezuela’s efforts to stay afloat financially have suffered another blow after a judge in the US gave a Canadian mining company permission to seize the shares of the Venezuelan holding Continue Reading
Venezuela’s state-owned PDVSA’s dependence on its US unit Citgo for refined products and diluent could be put in jeopardy by a US court order Thursday that may result in the Continue Reading
U.S. liquefied natural gas (LNG) company Cheniere Energy Inc said on Friday it had signed a 25-year deal to supply Taiwan’s CPC Corp, which CPC valued at roughly $25 billion. Continue Reading
The Philippines is trying to curb its inflation running at five-year highs by ordering the companies to make available for sale cheaper but dirtier fuel, backtracking on a ban on Continue Reading
The Environmental Protection Agency in August announced a plan to freeze fuel economy standards and revoke the ability of California to set more stringent rules than the national ones, prompting Continue Reading
U.S. President Donald Trump’s proposal to double tariffs on steel and aluminum from Turkey could push up costs even further for domestic oil and gas pipeline projects, as energy executives Continue Reading
U.S. energy companies this week added the most oil rigs since May as drillers follow through on plans to spend more on exploration and production in anticipation of higher crude Continue Reading
U.S. natural gas exports to Mexico hit all-time highs this month, but a slower-than-expected build out of pipelines inside Mexico has kept increases far below available capacity at the border. 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 13 rigs , according Continue Reading
Even if the U.S. Administration decides to release crude oil from the Strategic Petroleum Reserve (SPR), American drivers are unlikely to see gasoline prices coming down, because U.S. refiners already Continue Reading
When Exelon’s Oyster Creek nuclear unit disconnects from the grid at the end of September and permanently shuts, it will mark the start of a busy period of US nuclear Continue Reading
Highlights Sinopec would purchase 75% of Alaska LNG’s planned 20 million mt/year FERC DEIS expected next spring, initial service in 2024 Anchorage, Alaska — A deal between Chinese companies and Continue Reading
A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies’ appetite for acreage after the Trump administration left royalty rates for deepwater parcels Continue Reading
A new report by ABI research forecasts that a proportionately higher uptake of EVs in car-sharing fleets, and the higher utilization rates of those EVs, will result in global electric Continue Reading
Russia largely failed in its bid to overturn the European Union’s gas market rules in a World Trade Organization ruling published on Friday. Russia launched the dispute in 2014, claiming Continue Reading
Denmark, one of the last countries yet to sanction Russia’s Nord Stream pipeline, is reviewing new route plans, the country’s energy agency stated Friday. Ture Falbe-Hansen, a spokesman for the Continue Reading
Oil prices fell on Friday on concerns that global trade disputes will slow economic growth and demand for fuel, but losses were limited by U.S. sanctions against Iran which look Continue Reading
Crude prices settled slightly lower on Thursday, extending the previous session’s losses as the escalating China-U.S. trade dispute casts doubt over the outlook for oil demand. Brent crude futures LCOc1 Continue Reading
Singapore — The International Energy Agency on Friday raised its estimate of world oil demand growth next year to 1.5 million b/d from 1.4 million b/d, anticipating the impact of Continue Reading
Following strong demand growth in 1Q18, in 2Q18 and 3Q18 the pace has slowed dramatically to a relatively subdued 1 mb/d. In 4Q18 we expect a rebound and demand will be 100.2 mb/d. For 2018, Continue Reading
Oil markets have entered a brief period of calm but a storm might be looming later this year when new U.S. sanctions are poised to slash supplies of Iranian oil, Continue Reading
Iraq’s crude oil production rose to its highest level in 13 months in July—to 4.46 million bpd, Platts quoted the Iraqi State Oil Marketing Organization (SOMO) as saying on Thursday. Continue Reading
Shell’s presence in Nigeria has been controversial, what with lawsuits for the pollution of the Niger Delta, chronic pipeline vandalism and, in recent years, militant attacks on oil-producing infrastructure. But Continue Reading
LONDON (Reuters) – A huge oil refinery being built in Nigeria by Africa’s richest man is unlikely to start production until 2022, two years later than the target date, sources Continue Reading
The United Arab Emirates will build an oil pipeline connecting Eritrea’s port city of Assab with Ethiopia’s capital Addis Ababa, an Ethiopian state-affiliated broadcaster said on Friday. Fana Broadcasting said Continue Reading
Vietnam boosted imports of crude oil in July as the 200,000 b/d refinery at Nghi Son was preparing for trial runs of 100% capacity in September. Receive daily email alerts, Continue Reading
While it’s true that China’s crude oil imports recovered slightly in July, it was still among the lowest so far this year due to a decline in demand from smaller Continue Reading
