As crisis-plagued Venezuela struggles to pay its bills at home and abroad, foreign creditors are circling one of the country’s most valuable assets: Citgo, the Houston-based oil company that it Continue Reading
In the middle of a Sino-U.S. trade war, the world’s largest publicly traded oil and gas company is turning toward Beijing for business at a time when most of Corporate Continue Reading
State oil giant Saudi Aramco signed an agreement on Thursday to invest in a refinery-petrochemical project in eastern China, part of its strategy to expand in downstream operations globally. The Continue Reading
Steelmakers in Tangshan, China’s biggest steel producing city, are boosting output as local officials have failed to issue precise orders on output curbs even though the city’s winter pollution restrictions Continue Reading
U.S. oil production may rise to as much as 14 million barrels of oil per day (bpd) by 2020, Secretary of the Interior Ryan Zinke told Fox Business on Wednesday. Continue Reading
Australia’s dwindling heavy sweet crude oil production and fluctuations in Venezuela’s Merey crude exports could prompt China to source more heavy crude from Canada, with attractive price differentials for Cold Continue Reading
Highlights Pemex refineries at 32.3% of capacity Looks to run Bakken at Salina Cruz Mexico demand growth flattens Mexico City — Receive daily email alerts, subscriber notes & personalize your Continue Reading
Colorado highest producer with 3.6 million st Production rises 10.8% compared with Q2, 8.6% year on year Houston — US Western coal production totaled 16.2 million st in the third Continue Reading
The NYMEX November natural gas futures contract jumped 8.1 cents and settled at $3.320/MMBtu Wednesday, largely driven by erratic weather and storage concerns. Receive daily email alerts, subscriber notes & Continue Reading
The United States and the European Union (EU) are at odds over more than just the Iran nuclear deal – tensions surrounding energy policy have also become a flashpoint for Continue Reading
Traders in Europe are not rushing to the 2019 tenders for fuel oil, expecting wild price volatility in the prices of both high-sulfur and low-sulfur fuel oil next year as Continue Reading
Crude oil futures were stable during mid-morning trade in Asia Wednesday, with mixed cues failing to provide clear price direction. A surprise draw in US crude inventory and a pick-up Continue Reading
The American Petroleum Institute (API) reported a surprise draw of 2.13 million barrels of United States crude oil inventories for the week ending October 12, compared to analyst expectations that Continue Reading
Oil prices edged up in cautious trade on Tuesday as expectations of higher U.S. shale output and inventories vied with worries that crude supply from the Middle East could be Continue Reading
The big story in oil markets this week has been the escalating tension between the United States and Saudi Arabia, with many analysts suggesting that crude prices could head even Continue Reading
Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 Continue Reading
The Financial Times reported on October 15 that Kazatomprom will sell off a 25 percent stake through an instrument called depository receipts. Rather than selling stock to investors directly, Kazatomprom Continue Reading
OPEC has urged its members not to mention oil prices when discussing policy in a break from the past, as the oil producing group seeks to avoid the risk of Continue Reading
Statements by the United States that it would reduce Iran’s oil exports to zero are a “political bluff”, the head of state-run National Iranian Oil Company (NIOC) said, according to Continue Reading
The crude oil price appears firmly in the hands of geopolitical concerns, with veiled Saudi threats over the disappearance of a journalist and the ramping up of U.S. sanctions against Continue Reading
Chinese companies have offered to invest $2 billion to build a refinery in a northern region of Iran located in the southern shores of the Caspian Sea, according to an Continue Reading
Iran is raking in more cash from oil exports thanks to higher prices despite the decline in amount of oil exported, the country’s Vice President Eshaq Jahagiri told Iranian media, Continue Reading
Mangalore Refinery and Petrochemicals, a subsidiary of India’s Oil and Natural Gas Corporation (ONGC), expects India to receive this month a waiver from the U.S. sanctions on Iranian oil, Mangalore’s Continue Reading
Iraq’s oil production continued to climb in September, as both the federal government and the autonomous Kurdistan region made incremental gains. Countrywide output averaged about 4.867 million barrels per day Continue Reading
After the resurgence of the U.S. oil industry in recent years due to hydraulic fracking and the shale oil revolution, most thought the days of Middle Eastern oil producers, Saudi Continue Reading
Saudi Arabia has not only called the end of Russia’s prominence as a global oil behemoth, but anticipates that Russia’s oil exports “will have declined heavily if not disappeared” within Continue Reading
The Senate on Tuesday resolved to probe the alleged mismanagement of $3.8 billion Subsidy Recovery Fund, SRF, by the Nigeria National Petroleum Corporation, NNPC. This is sequel ta o a Continue Reading
NASA satellite imagery from Oct. 8-31, 2017, shows crop fires spreading throughout the state of Punjab, India. Every October, farmers in northern India set fire to the straw in their Continue Reading
India will be looking to ship in more crude oil from Saudi Arabia and the United Arab Emirates to fill part of the vacuum created by reduced appetite for supplies Continue Reading
The number of casualties after an oil product pipeline explosion in Nigeria has reached 200, local media report , as people from local communities have gathered to protest the negligence Continue Reading
China could be facing a “debt iceberg with titanic credit risks” following a boom in infrastructure projects by local governments around the country, S&P Global has warned. Local governments may Continue Reading
Vietnam’s economy is this year set to exceed the government’s growth forecast, which was predicting a healthy rise of 6.7 percent, VOA reported recently, citing a government statement. The reason Continue Reading
The average price of a gallon of gasoline in U.S. service stations fell in mid-October by an average of two cents on-week amid declines in demand — the first such Continue Reading
President Trump has reportedly cancelled a plan proposed by Energy Secretary Rick Perry to provide financial support for troubled coal-fired power plant operators, Politico says , quoting four unnamed sources Continue Reading
By the middle of the next decade, US unconventionals will generate up to $20 billion of annual cash flow for the Lower 48. U.S. unconventionals will be crucial for oil Continue Reading
Even as crude prices hover near four-year highs, U.S. oilfield service firms’ third-quarter results due out in coming days will reflect a shaky recovery, as their customers face drilling constraints Continue Reading
Imagine your own child. Perhaps she’s nine this year. In 2030 she will be 21, just starting out on her own. Now: how much less do you value the quality Continue Reading
There are some early signs that the U.S. shale industry is starting to show its age, with depletion rates on the rise. A study from Wood Mackenzie found that some Continue Reading
An upcoming report could usher in produced water’s transformation from a byproduct to a resource. According to the Ground Water Protection Council (GWPC), a U.S. association of state ground water Continue Reading
By the middle of the next decade, US unconventionals will generate up to $20 billion of annual cash flow for the Lower 48. U.S. unconventionals will be crucial for oil Continue Reading
At 10:30 p.m. on an 85F August night in Penwell, West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in the forecourt of an abandoned Continue Reading
Major UK companies, including banks and retailers, are pledging to invest hundreds of millions of British pounds to cut their carbon footprint and to support new energies, the UK government Continue Reading
A British seismologist has suggested the recent series of earthquakes in Surrey had no causal link to oil drilling activities being carried out in the region. Surrey Live quoted Dr. Continue Reading
Oil prices fell on Tuesday on evidence of higher U.S. oil production and increasing U.S. crude inventories, but reports of a fall in Iranian oil exports helped limit losses. Brent Continue Reading
Crude oil futures were higher during mid-morning trade in Asia Tuesday amid supply concerns stemming from the growing tension between the US and Saudi Arabia, while an expected rise in Continue Reading
Oil prices steadied on Monday, supported by geopolitical tension over the disappearance of a Saudi journalist that has stoked worries about supplies from Riyadh, but weighed by concern over long-term Continue Reading
Crude oil futures went for a wild ride in European trading Monday but settled down before U.S. markets opened, in part because U.S. President Donald Trump and Saudi Arabia are Continue Reading
Echoing commentary published here during the weekend, overnight Goldman’s chief commodity Jeffrey Currie repeated his recommendation to overweight allocation to oil to “hedge against increased geopolitical risks, driven by elevated Continue Reading
Demand for crude oil will be lower in 2019 and supply higher, the chief executive of French oil and gas group Total said on Tuesday. Higher oil prices and a Continue Reading
OPEC Secretary-General Mohammad Barkindo on Tuesday urged oil producing companies to increase capacities and invest more to meet future demand as spare oil capacity shrinks worldwide. FILE PHOTO: Mohammed Sanusi Continue Reading
