Asia Braces For Much Tighter Oil Markets
Two months before the U.S. sanctions on Iranian oil exports go into effect, Asian refiners and traders are beginning to line up their purchases for cargo loadings for November. On Continue Reading
U.S. crude oil stockpiles decline more than expected last week: EIA
U.S. crude stockpiles fell more than expected last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Thursday. Crude inventories fell 4.3 million barrels in the Continue Reading
US shale boom begins to cool
The US shale oil industry is slowing as logistical challenges including labor costs and a lack of adequate pipeline capacity pile up, the chief executives of some of the largest Continue Reading
Manufacturing Energy Consumption Survey (MECS)
In the United States, the capability of the manufacturing sector to switch the fuels it uses declined continuously between 1994 and 2014, according to data from the U.S. Energy Information Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending August 31, 2018 U.S. crude oil refinery inputs averaged 17.6 million barrels per day during the week ending August 31, 2018, Continue Reading
Texas Oil Production Continues To Soar
These first charts are taken from the EIA’s Monthly Crude Oil and Natural Gas Production . The data is through June 2018 and is in thousands of barrels per day. Continue Reading
Russia’s Lukoil to spend $1 billion on share buyback by end-2019: Interfax
MOSCOW (Reuters) – Russian oil firm Lukoil plans to spend at least $1 billion buying back shares by the end of next year, Interfax cited the company’s first vice president Continue Reading
Oil dips on emerging market turbulence, but looming Iran sanctions support
Oil prices dipped on Thursday as emerging market turbulence weighed on sentiment, while a deadline neared for a potential new round of U.S. tariffs on another $200 billion of Chinese Continue Reading
Gordon’s path, emerging market concerns cool oil complex
The oil complex turned lower Wednesday as a weaker emerging market outlook combined with cooling concerns regarding the expected impact of Tropical Storm Gordon. Receive daily email alerts, subscriber notes Continue Reading
Oil Prices Inch Lower After API Reports Minor Crude Draw
The American Petroleum Institute (API) reported a draw of 1.17 million barrels of United States crude oil inventories for the week ending September 1, compared to analyst expectations that this Continue Reading
A Bearish September For Oil
The recent gains in WTI and Brent were a treat for investors and a boon for oil bulls. The original catalyst for this most recent rally was a bullish inventory Continue Reading
Oil falls more than 1 percent as storm fears ease, demand concerns mount
Oil prices fell more than one percent on Wednesday after a U.S. Gulf storm weakened and moved away from oil-producing areas and as concerns mounted about global trade disputes and Continue Reading
EIA’s Latest USA & World Oil Production Data
These first charts are taken from the EIA’s Monthly Crude Oil and Natural Gas Production . The data are through June 2018 and is in thousand barrels per day. US Continue Reading
Business leaders warn of lack of progress on emissions
The world is not making nearly enough progress in reducing greenhouse gas emissions to achieve the goals for limiting global warming agreed at the Paris climate summit in 2015, a Continue Reading
OPEC crude oil production rises to 32.89 mil b/d in Aug as cuts unwind: Platts survey
OPEC’s crude oil production in August, not including newest member Congo, rose to a 10-month high, with Iraq surging to record output and Libya recovering from militia fighting, more than Continue Reading
Iran Says Europe Looks To Open Bank Accounts To Deposit Iranian Oil Income
Europe is looking to open bank accounts in Europe for Iran to deposit oil revenues and secure Iranian oil exports, Iranian media quoted Deputy Foreign Minister Abbas Araqchi as saying. Continue Reading
UAE Ramping Up Oil Production To 3 Million Bpd
The United Arab Emirates (UAE) is ramping up production at a newly operational offshore field, aiming to boost its total output to around 3 million bpd, S&P Global Platts reported Continue Reading
Saudi Arabia aims to keep crude in $70 to $80 band: sources
Saudi Arabia wants oil to stay between $70 and $80 a barrel for now as the world’s biggest crude exporter strikes a balance between maximizing revenue and keeping a lid Continue Reading
Iraq Is Facing A Major Internal Crisis
Iraq continues to head towards a major showdown between the two main political rival blocks, led by Prime Minister Al Abadi and former PM Al Maliki. Both are currently in Continue Reading
Interview: Equatorial Guinea warns of African asset grab by oil majors
The return of oil majors to African exploration projects as upstream spending recovers threatens to slow down, rather than accelerate, the pace of new finds in the region, Equatorial Guinea’s Continue Reading
Is This The Riskiest Oil Frontier In The World?
Seven years after South Sudan became independent, leaving behind a sanguinary civil war, it finally reached the point where it places its bets on development and not on incessant internal Continue Reading
India’s August imports of Iran oil down a third month-on-month: sources
India imported about 523,000 barrels per day (bpd) of oil from Iran in August, down 32 percent on a month earlier, preliminary tanker arrival data showed, as the United States Continue Reading
India boosts purchases of Indonesian coal as prices drop: Russell
One of the standout commodity performers this year has been thermal coal, but not all coal is created equal and disparities in pricing may help explain why India’s imports have Continue Reading
Conoco waiting for Venezuela to pay $2 billion settlement: CEO
U.S. oil producer ConocoPhillips ( COP.N ) is still awaiting payment from Venezuela on a $2 billion arbitration settlement reached last month with the country’s state-run PDVSA, Chief Executive Ryan Continue Reading
Mexico President Plans Massive New Oil Refinery In Blow To U.S. Refiners
Mexico’s President Andres Manuel Lopez Obrador has plans to build the country’s largest refinery with a capacity to produce 400,000 barrels of gasoline daily, Reuters reports , citing comments by Continue Reading
Oil Imports By China’s Teapots Drop In August
Chinese teapot refineries imported 5.7 percent less crude oil in August than in July, a survey by S&P Global Platts has revealed, reinforcing a growing worry that a tax regime Continue Reading
Tainted Fuel Is Wreaking Havoc On Hundreds Of Ships
Contaminated fuel has damaged and clogged engines on hundreds of oil tankers and shipping vessels around the world, creating costly delays for shippers. The source of the contamination has not Continue Reading
ExxonMobil latest foreign major to invest in petchem plant, LNG terminal in China
BEIJING (Reuters) – ExxonMobil Corp said on Thursday it has signed a preliminary deal to build a petrochemical complex and invest in a liquefied natural gas (LNG) terminal in China, Continue Reading
Canada might appeal ruling that quashed pipeline approval: Trudeau
The Canadian government might appeal a court ruling that overturned federal approval of the Trans Mountain oil pipeline expansion, Prime Minister Justin Trudeau said on Wednesday. Trudeau told reporters in Continue Reading
Canadian Drillers Plan Spending Boost
Despite a discount of more than US$20 a barrel between Canadian crude and WTI, drillers in Alberta are upbeat about the immediate future and plan to boost their drilling budgets, Continue Reading
Analysts expect 60-Bcf build to US gas storage stocks: survey
An S&P Global Platts survey of analysts calls for the US Energy Information Administration to estimate a 60-Bcf build to gas storage stocks. Receive daily email alerts, subscriber notes & Continue Reading
Five Million Electric Cars on California Power Grid? No Sweat
Governor Jerry Brown wants to see five million electric cars in his state by 2030 Right now there are more than 360,000 plug-in electric cars on the road in California, Continue Reading
Shale Won’t Trigger The Next Financial Crisis
Many think that debt and negative cash flow by U.S. shale companies will crash the global financial system. I believe the opposite is more likely, that a developing financial crisis Continue Reading
Are Oil & Gas Executives Paid Based On Luck?
That’s the premise of a new paper from the Energy Institute at Haas, which looks at the link between executive pay and oil prices. Building on a 2001 paper that Continue Reading
CaFCP: 1,000 H2 stations enabling 1M fuel cell electric vehicles on California roads in 2030
The California Fuel Cell Partnership (CaFCP) released its 2030 vision for California, The California Fuel Cell Revolution . The vision document describes a self-sustaining market in 2030 for fuel cell Continue Reading
Oil drops toward $77 as U.S. storm threat eases
Oil extended losses on Wednesday, falling toward $77 a barrel, as a tropical storm hitting the U.S. Gulf coast weakened, offsetting support from forecasts of lower U.S. inventories and sanctions Continue Reading
Oil rally slows as tropical storm concerns abate
NYMEX October crude settled 7 cents higher at $69.87/b Tuesday as Tropical Storm Gordon looked set to avoid key Gulf Coast oil infrastructure. Receive daily email alerts, subscriber notes & Continue Reading
Oil Nears $80 Per Barrel
Building on last week’s rally, which was spurred by fears of an impending supply crunch, oil prices are quickly approaching a two-month high with $80 Brent well within reach. U.S. Continue Reading
Say Goodbye To Cheap Oil… For Now
The investment bank significantly raised its pricing forecast for 2020 and 2025 in its annual medium-term oil report. Barclays expects Brent to average $75 per barrel in 2020, up from Continue Reading
Oil Could Jump To $95 This Winter
West Texas Intermediate could rise as high as US$95 a barrel by this winter on the back of a number of factors, the leading among them the Iran sanctions, John Continue Reading
Big Oil’s LNG Obsession
Since the early days of the oil and gas industry, a group of Western companies has dominated the industry. These companies have been named ‘Big Oil’ due to the size Continue Reading
OPEC’s Barkindo says oil demand to hit 100 mln bpd ‘much sooner’ than projected
OPEC Secretary-General Mohammad Barkindo said on Wednesday that world oil consumption would hit 100 million barrels per day later this year, “much sooner” than earlier projected. OPEC Secretary-General Mohammad Barkindo Continue Reading
OPEC’s Biggest Fear: A Full Blown Trade War
The escalating trade spat between China and the United States has started to worry Middle Eastern oil producers, who expect the dispute to hurt China’s oil imports alongside a rising Continue Reading
India Allows State Refiners To Import Iranian Oil In Iran-Owned Tankers
India has given permission to state-owned refiners to import oil from Iran with Iranian tankers and insurance, after the biggest Indian shipping company backed out of Iran voyages due to Continue Reading
Egypt Ordered To Pay $2B To JV Over Natural Gas Row
Union Fenosa Gas, a joint venture of Spain’s Naturgy and Italy’s Eni, operates the Damietta liquefied natural gas (LNG) plant in Egypt. The company took the country to court in Continue Reading
Saudi Aramco Signs Deal With Baker Hughes To Boost Offshore Oil Production
Saudi Aramco awarded on Tuesday to Baker Hughes the first integrated services contract for capacity expansion of its large offshore Marjan oilfield, the Saudi firm’s biggest upstream development this year Continue Reading
Houthis Claim Successful Attack On Aramco Oil Facility
Yemen’s Houthi rebels have claimed a successful attack on an unidentified oil facility of Saudi Aramco in Jizan, according to a report in Iranian state news agency IRNA. The strike Continue Reading
Deadly protests rage in Iraq over lack of services as political transition deadlocks
Iraqi authorities braced for a fresh round of violent protests Wednesday after security forces killed six demonstrators over the last two days during angry marches in the southern city of Continue Reading
Violent protests reignite in Iraq’s oil capital
The recent killing of a protester fueled renewed anti-government demonstrations in Basra city and around several oil fields, some of which turned deadly. Deadly fighting has broken out between protesters Continue Reading
U.N. says has reached ceasefire for Libyan capital as jailed migrants escape
A ceasefire has been signed between armed factions fighting over the Libyan capital, the United Nations said on Tuesday, after more than a week of violence inside Tripoli. Dozens of Continue Reading