US likely overtook Russia and Saudi Arabia in terms of oil output to become the world’s biggest producer earlier this year. (Bloomberg) — America likely overtook Russia and Saudi Arabia Continue Reading
Volvo Trucks unveiled Vera : an autonomous, electric vehicle that can operate with significantly less exhaust emissions and low noise levels. Vera is controlled and monitored via a cloud-based service, Continue Reading
Crude oil futures were stable to higher during mid-morning trade in Asia Wednesday after the American Petroleum Institute reported a larger-than-expected draw in US crude inventories and geopolitical tensions remained Continue Reading
The front-month ICE Brent/NYMEX futures spread crossed the $10/b mark at the Asian close on Tuesday for the first time since June, as the uncertainties surrounding the impact of US Continue Reading
The American Petroleum Institute (API) reported a major draw of 8.636 million barrels of United States crude oil inventories for the week ending September 7, compared to S&P Global Platts Continue Reading
As the Trump administration continues to grapple with Native American groups on Keystone XL, analysts are warning that oil prices could reach $100 per barrel after the Iran sanctions are Continue Reading
Historical data about energy use tell us a lot about expected trends as well as the impact of policy changes, economic growth and projected prices. The 2018 issue of the Continue Reading
Predicting the point at which the world reaches peak oil demand has become something of a cottage industry. The estimates range, but tend to fall somewhere around 2030 or later. Continue Reading
Christine Lagarde has warned that the escalating US-China trade war could deliver a “shock” to already struggling emerging markets, raising the prospect that a crisis ripping through Argentina and Turkey Continue Reading
Iraq’s Western-backed prime minister Haider Al-Abadi is facing growing domestic discontent as veiled criticism from the country’s top Shia cleric and violent street protests threaten his attempts to form a Continue Reading
A Chinese state oil major that already dominates most of South Sudan’s oil production is poised to play an even larger role in the African country’s efforts to boost its Continue Reading
Nationwide oil production grew steeply again in August, as the federal government continued to unlock field capacity in the wake of loosening OPEC constraints. Combined output from the federal government Continue Reading
Iran’s crude oil and oil product revenues in the first four months of the Iranian year beginning March 21 until July 23 jumped by 60 percent on the year to Continue Reading
Iranian crude production fell 200,000 b/d from July to 3.52 million b/d in August as US sanctions loom, and apparent hedging activity indicates some traders are preparing for a potential Continue Reading
Jacobin recently published an article calling for a national and worldwide expansion of air-conditioning usage. In it the writer, Leigh Phillips, used the suffering of economically and ecologically stressed people Continue Reading
Failure on the part of industry regulators in Nigeria has relegated Nigeria to the background among the comity of nations, thus making it a destination for dirty fuels. Petroleum products Continue Reading
PetroChina has just inked a deal to buy 3.4 million tonnes per annum (mtpa) of LNG from QatarGas in a move representing the Chinese firm’s largest ever to date LNG Continue Reading
Cheaper U.S. crude prices make American-produced oil an easier sell in places like Asia, even with the cost of shipping, typically a few dollars a barrel. The price gap also Continue Reading
The Trump administration on Tuesday proposed weakening requirements for testing and repairing methane leaks in drilling operations, among other measures, in a step toward rolling back an Obama-era policy to Continue Reading
U.S. crude oil production in 2019 is expected to grow at a slower rate than previously forecast, according to a monthly U.S. government forecast on Tuesday. U.S. crude production is Continue Reading
A Texas port handling booming exports of US crude oil has invoked a 12-year-old criminal case against the commodities trading house Trafigura as it seeks to slow its efforts to Continue Reading
Forecast Highlights Global liquid fuels Brent crude oil spot prices averaged $73 per barrel (b) in August, down almost $2 from July. EIA expects Brent spot prices will average $73/b Continue Reading
Last month, the Trump Administration announced that it would replace fuel efficiency standards enacted by the Obama Administration in order to make cars safer and more affordable. The new proposal Continue Reading
South Field Energy has selected engineering firm Bechtel to design and build its $1.3 billion, 1,182-MW South Field Energy combined-cycle natural gas plant located in the heart of Ohio’s shale Continue Reading
US nuclear plants in several Southeastern states are readying for Hurricane Florence and may have to shut ahead of the arrival of hurricane-force winds, utilities said Tuesday. Receive daily email Continue Reading
Airline fuel efficiency on transatlantic flights has improved by one percent a year since 2014 as carriers buy modern planes, but the industry still lags its own climate goals, a Continue Reading
Natural gas, helped by gains in energy efficiency, will dethrone oil as the biggest energy source that the United States uses by the end of this year. That’s according to Continue Reading
Despite reduced costs and efficiency improvements, the UK oil and gas industry could lose its significance as a key contributor to the UK economy and energy supply, due to record Continue Reading
Russia’s top oil producer Rosneft said on Wednesday it has agreed with China’s CNPC that the latter can buy minority stakes in Rosneft oil and gas projects in Siberia. Rosneft Continue Reading
Global oil markets remain “fragile” due to geopolitics and production declines in several regions, Russia’s energy minister said on Wednesday but added his country could raise output if needed. The Continue Reading
Crude oil futures were stable to higher during mid-morning trade in Asia Tuesday amid expectations that latest US crude stocks data will show a decline and participants monitored geopolitical tensions Continue Reading
The NYMEX October gas futures contract settled at $2.804/MMBtu Monday, up 2.80 cents despite a bearish weather forecast. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Continue Reading
Oil prices stayed steady through the summer months but could have some rocky days ahead as global inventories continue to fall and the trade standoff between the United States and Continue Reading
The UN secretary-general has sounded the alarm on climate change, warning that there could be a $2tn loss in productivity in the global economy by 2030 due to the effects Continue Reading
António Guterres, the United Nations secretary general, called climate change “the defining issue of our time.” Want climate news in your inbox? Sign up here for Climate Fwd: , our Continue Reading
The number of people suffering from hunger has increased during the past three years, after years of decline, a UN report suggests. According to the analysis, 821 million people globally Continue Reading
Last week, rioters burned down several buildings in Basra, a major city in Southern Iraq and home to most of the country’s oil production. Despite its oil riches, southern Iraq Continue Reading
Several armed men attacked the headquarters of Libya’s National Oil Corporation (NOC) in the capital Tripoli on Monday, killing at least two staff members, a security official said. In the Continue Reading
The latest clashes in Libya escalated on Monday when several gunmen attacked the headquarters of Libya’s National Oil Corporation (NOC) in Tripoli, and witnesses say that a few people have Continue Reading
Iraq replaced Saudi Arabia in August as the top oil supplier to India, data from industry and shipping sources showed, as refiners turned to Iraqi barrels to compensate for a Continue Reading
Turkey’s President Recep Erdogan has lashed out at the United States, accusing Washington of supplying crude oil to a rebel group calling itself the People’s Protection Units, or YPG, which Continue Reading
London-listed independent operator and producer Gulf Keystone Petroleum said on Monday that it would resume investing in the Shaikan oil field in Iraq’s Kurdistan Region, aiming to boost production to Continue Reading
Islamic State militants have bombed an oil pipeline in Kirkuk, northern Iraq, the top security official of the Kurdistan government told local news outlet Rudaw. The terrorists launched two bombs Continue Reading
Turkey, Russia and Iran reached an agreement to conduct bilateral trade in their own currencies, and to avoid the use of US dollars, Turkey’s state-owned Anatolia news agency reported. Receive Continue Reading
Saudi Basic Industries Corp (SABIC) on Tuesday signed a memorandum of understanding (MOU) with China’s Fujian provincial government to build a petrochemical complex. SABIC is the third company to announce Continue Reading
At least three North Asian buyers will receive extra supplies of oil from Saudi Arabia after the kingdom cut its prices for most grades in October and as they look Continue Reading
Violent protests in this oil-producing city have dealt a fateful political blow to pro-American Prime Minister Haider al-Abadi, all but ending his bid for a second term as both allies Continue Reading
Venezuela has agreed to hand over at least seven oil fields to little-known companies that will be paid to boost output through contracts similar to ones rolled back under late Continue Reading
The cartel’s largest producer and exporter, Saudi Arabia, has been specifically targeting an increase in crude oil exports to the most transparent market, the United States, which reports crude oil Continue Reading
India will be looking at the economics—and not the politics—of importing U.S. crude oil, and Indian imports of American oil should not be seen as a replacement for Iranian barrels, Continue Reading
