Nigerian gas tanker explosion kills at least 35
At least 35 people were killed on Monday and hundreds injured when a gas tanker exploded in northern Nigerian the state of Nasarawa and started a blaze, the state emergency Continue Reading
In bold bet, China may let provinces set own winter output curbs for heavy industry
China is considering allowing its northern provinces to decide individual output cuts by heavy industry to rein in emissions during the winter, ditching an earlier plan for blanket cuts in Continue Reading
Hengli’s high-tech petroleum complex breathes down PetroChina’s neck
On reclaimed land on the island of Changxin near the port of Dalian, workers are putting the finishing touches on a plant that is the future of China’s refining and Continue Reading
U.S. and Saudi energy ministers to meet in Washington: DOE
U.S. Energy Secretary Rick Perry will meet Saudi Energy Minister Khalid al-Falih on Monday morning in Washington, the Department of Energy said, as the Trump administration encourages big oil-producing countries Continue Reading
Rising Costs Weigh On Permian Gas Production
To be fair, not all shale gas drilling is slowing, but in the Permian Basin, which has seen the most incandescent growth in recent years, according to the Financial Times Continue Reading
Cyber Threats Are Mounting For U.S. Energy
Going forward, it will be done by computers: Cyberwar. Every day the early skirmishes — the tryout phase, if you will – are taking place. There are tens of thousands Continue Reading
California Governor Signs Anti-Offshore Drilling Law
California Governor Jerry Brown signed into law this weekend a bill that aims to make drilling for oil and gas off the state’s coast unprofitable. CBS reports that the bill, Continue Reading
ExxonMobil strikes deal with Alaska to feed LNG project
Some Point Thomson lawsuit settlement terms to be modified Receive daily email alerts, subscriber notes & personalize your experience. Register Now BP agreed to terms previously; ConocoPhillips still in talks Continue Reading
Refinery margin tracker: US crude by rail makes a comeback
Crude by rail is making a comeback as North American crude production outpaces takeaway pipeline capacity in the Permian and lower rail costs make Bakken margins attractive to both US Continue Reading
Calif. lawmakers OK replacing Diablo Canyon with greenhouse-gas-free power
California lawmakers have passed legislation mandating the replacement of the Diablo Canyon nuclear plant’s 2.2 GW of capacity with greenhouse-gas-free generation, which the governor is expected to approve. The proposal Continue Reading
U.S. oil exports to Japan, South Korea soar as refiners reap steep discounts
U.S. oil exports to Japan and South Korea will rise to record highs this month as Asian refiners take advantage of the steep discounts American sellers are offering after losing Continue Reading
EPA to Roll Back Obama-Era Methane Rules
The proposed changes, among other measures, would give drillers a year to do leak inspections instead of just six months, and 60 days to make repairs instead of 30, the Continue Reading
Pipeline Problems In The Permian Are Overblown
The Permian pipeline bottleneck continues to pinch the shale industry, forcing steep discounts for oil stuck in West Texas. Yet, the midstream constraints will be temporary and few in the Continue Reading
Rising Costs Weigh On Permian Gas Production
To be fair, not all shale gas drilling is slowing, but in the Permian Basin, which has seen the most incandescent growth in recent years, according to the Financial Times Continue Reading
Walmart Canada commits to 100% alternatively powered fleet vehicles by 2028; orders 30 more Tesla semis
Walmart Canada plans to power its fleet using 100% alternative power by 2028. To meet that goal, the company has announced plans to acquire an additional 30 Tesla 18-wheeler semi-trucks, Continue Reading
The Biggest Challenge Facing Shale Oil Could Be Overcoming Its Own Success
If you follow energy markets at all, you know that prices on the Brent global oil benchmark have traded within a robust band of $70 to $80 a barrel for Continue Reading
Trump Illegally Approved Oil Pipeline From Canada
Native American tribes in Montana and South Dakota sued the Trump administration on Monday, claiming it approved an oil pipeline from Canada without considering potential damage to cultural sites from Continue Reading
Norway Receives Bids From 38 Oil Firms To Explore Mature Areas
Norway has received bids from 38 companies applying for new exploration acreage in the latest licensing round for mature areas on the Norwegian Continental Shelf, Norway’s Ministry of Petroleum said Continue Reading
Russia’s New Gas Giant
Something strange happened last week: Russia’s largest independent gas producer, Novatek, surpassed in market value state behemoth Gazprom for the first time ever. Yet, as strange and possibly even unnatural Continue Reading
Russian energy minister Novak sees broader OPEC, Russia, allies cooperation charter ‘expedient’ from Jan 1, 2019
Russia’s energy minister Alexander Novak believes OPEC, Russia and their allies within the production cut alliance should ink an agreement on the group’s broader cooperation in December so that the Continue Reading
UK competition to install electric vehicle fast-charge network ‘backed by GBP400 million fund’: Clark
The UK government is to support the roll-out of fast-charging networks for electric vehicles, Business Secretary Greg Clark said Tuesday on BBC Radio 4’s Today Program. Receive daily email alerts, Continue Reading
UK drilling continues to fall, risking North Sea industry: lobby group
Industry group Oil & Gas UK warned Tuesday of a continued drop in North Sea drilling needed to sustain output levels in the longer term. Receive daily email alerts, subscriber Continue Reading
Russia’s Novak says OPEC+ may sign new long-term deal in December: TASS
Russian Energy Minister Alexander Novak said on Tuesday that the OPEC+ oil group may sign a new long-term cooperation deal at the beginning of December, the TASS news agency reported. Continue Reading
Oil up as U.S. drilling stalls, Iranian sanctions bite
Oil prices rose on Monday as U.S. drilling stalled and as investors anticipated lower supply once new U.S. sanctions against Iran’s crude exports kick in from November. Benchmark Brent crude Continue Reading
Oil Market Turns Turbulent Heading Into Fall Season
West Texas Intermediate slid 2.9%, the biggest weekly decline since July, to $67.75 a barrel. That is after the U.S. crude benchmark had capped August with one of its sharpest Continue Reading
The Downside For Oil Is Limited
Oil prices posted steep losses just as the bulls were back on the march. WTI briefly topped $70 per barrel in recent days and Brent was flirting with $80. But Continue Reading
World shares face longest losing streak since January 2016
LONDON (Reuters) – World shares were flirting with their longest run of declines since early 2016 on Monday, hit by rising anxiety about the U.S.-China trade war and another interest Continue Reading
DNV GL: world energy demand will peak in 2035 prompting a reshaping of energy investment due to rapid electrification and inherent efficiency
Global spending on energy, as proportion of economic output, is set to slow sharply because the world’s energy demand will decline from 2035 onwards, according to DNV GL’s Energy Transition Continue Reading
Iran Develops a $5 Billion Weapon to Fight Sanctions
It was the latest example of how Tehran is quietly leveraging its Iran Foreign Investments Co. to loosen the Trump administration’s tightening economic noose. The fund, with dozens of investments Continue Reading
Rising Violence in Basra Highlights U.S.-Iran Fight for Influence in Iraq
Demonstrations flared in Basra this month after thousands fell ill because the water supply was contaminated, and intensified last week after several protesters were killed. Protesters burned the offices of Continue Reading
Libya violence: Gunmen storm oil corporation building
Smoke rises from the headquarters of Libyan state oil firm National Oil Corporation An armed group is reported to have stormed the headquarters of the National Oil Corporation (NOC) in Continue Reading
Libya’s National Oil Corp chairman Sanalla evacuated from Tripoli headquarters during attack: sources
Mustafa Sanalla, the chairman of Libya’s National Oil Corp., was evacuated from the company’s headquarters in Tripoli Monday after gunmen stormed the building, detonating grenades, sources in the country told Continue Reading
Premiums for ships loading from Iran to rise as US sanctions loom
As the deadline for US sanctions on Iranian crude oil draws near, loadings are still going on from Iran and some shipping companies view it as an opportunity to get Continue Reading
South Korea Grants US Wish for Zero Oil Imports From Iran
South Korea has become the first of Iran’s top 3 oil customers to fulfill a hard-line US demand that buyers cut imports to zero. (Bloomberg) — South Korea has become Continue Reading
How Iran Plans To Bypass The World’s Main Oil Chokepoint
Global markets have recently gone into overdrive in anticipation of the US-Iran standoff’s outcome. President Trump is building up pressure on Tehran, his latest move was to announce his chairing Continue Reading
How Much Longer Can The Saudis Suppress Oil Prices?
When earlier this week reports emerged that Saudi Arabia is striving to keep oil prices in the range of US$70-80 per barrel in a bid to balance its need for Continue Reading
The Start Of Saudi Arabia’s Power Play
Shaky emerging market developments have been bearish for oil prices lately, with WTI falling to $68 per barrel by the end of the trading week after a $70 per barrel Continue Reading
Is A New Crisis Brewing In The Saudi Royal Family?
Major changes are never going without instability, conflict and possible crisis. Saudi Arabia’s dramatic change to diversify its economy away from an oil-based rentier state status is not going as Continue Reading
Baiji refinery begins its comeback
The Baiji refinery, taken offline by the war with the self-proclaimed Islamic State (IS) militant group in 2014, has partially resumed operations. The 70,000 barrel per day (bpd) Salahaddin-2 unit Continue Reading
Nigeria: Modular Refineries – Govt Secures N179.9bn Loan From China, Eyes 100,000 Jobs
The Federal Government has secured a $500 million (about N179.9 billion) facility from the Export Import Bank of China (CEXIM) through the Bank of Industry (BOI) for the establishment of Continue Reading
The Collapse Of Venezuela’s Imaginary Oil Currency
Earlier this year, Venezuelan President Nicolas Maduro rolled out his latest scheme to rescue his economy, offer an alternative to the increasingly worthless bolivar, and skirt U.S. sanctions on financial Continue Reading
Mexico’s Lopez Obrador: Crude output to hit 2.6 million bpd by end of his term
Mexican President-elect Andres Manuel Lopez Obrador said on Saturday that crude production in the country is expected to reach at least 2.6 million barrels per day (bpd) by the end Continue Reading
China vows to respond if U.S. takes new steps on trade
BEIJING (Reuters) – China will respond if the United States takes any new steps on trade, the foreign ministry said on Monday, after President Donald Trump warned he was ready Continue Reading
Donald Trump’s ambitions for gas have shaky foundations
The US appears to have ambitions to dominate the global market for liquefied natural gas with growing exports of gas produced from shale rocks. The volumes are certainly available and Continue Reading
Canadian Crude Prices Plunge Once Again
Canadian crude prices are plunging once again as repairs were completed on Alberta’s second-biggest oil sands upgrader and production surged from a new mine. (Bloomberg) — Canadian crude prices are Continue Reading
Permian Auction Doubles 2008 Record with near Billion-Dollar Sale
The price to access unexplored shale assets on the New Mexico side of the Permian Basin soared to $95,001 an acre in a federal government auction, a record high for Continue Reading
Airbus Looks Windward, Will Put Sails on Ships Moving Plane Parts
The device is the latest in an array of technologies shipping companies are using to cope with rising fuel costs as the International Maritime Organization implements rules to reducing pollution Continue Reading
Russia and US energy ministers to meet in Moscow Thursday to discuss oil and gas markets, Iran sanctions
Moscow — Russia’s energy minister Alexander Novak plans to meet with his US counterpart Rick Perry in Moscow on Thursday to discuss oil and gas markets, Iran sanctions, and the Continue Reading
Oil falls with weaker equities, stronger dollar
Oil prices fell on Friday for the third straight session, weighed down by a strong dollar, weakness in the equity markets, and Tropical Storm Gordon’s smaller-than-expected impact on U.S. Gulf Continue Reading
The End Of The Oil Price Rally
Oil prices are set for their largest weekly loss since July, due to fears of emerging market contagion and some bearish data from the EIA. Mixed EIA report, oil prices Continue Reading