Oil toils after worst month in a decade
Oil toiled at a more than one-year low after its worst month in a decade on Friday, while most major markets were keeping moves tight ahead of a weekend meeting Continue Reading
Oil falls as high inventories outweigh likely OPEC cuts
Oil prices slipped further on Friday as swelling inventories depressed sentiment despite widespread expectations that OPEC and Russia would agree some form of production cut next week. Both international oil Continue Reading
Oil Prices Rally As Russia May Be Joining The Cuts
Just a few hours after WTI Crude dipped below $50 , oil prices wiped out losses and started climbing on Thursday after reports that Russia has conceded that it needs Continue Reading
Saudi energy minister goes to OPEC with a weak hand: Kemp
Saudi Arabia’s energy minister, Khalid al-Falih, must play a bad hand of cards as well as he can at next week’s meeting of OPEC and non-OPEC oil producers in Vienna. Continue Reading
Qatar Looks To Revitalize Trade Amid Embargo
On November 7 Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, the deputy prime minister and minister of foreign affairs, announced that Doha was looking to expand trade and investment Continue Reading
Khashoggi’s Revenge: Is Saudi Arabia Becoming A Pariah State?
The U.S. Senate took a dramatic step on Thursday, moving to block U.S. involvement in the Saudi war in Yemen and sending a powerful message to Riyadh that the U.S.-Saudi Continue Reading
Taiwan Firm Stops Importing Iranian Oil Despite Waiver
Due to lack of a payment mechanism, Taiwanese firm Formosa Petrochemical will not be buying Iranian oil despite a U.S. waiver to do so, and will replace part of its Continue Reading
Petroperu dives deeper into debt as it pushes controversial refinery upgrade
A Peruvian state oil company said it has received $1.3 billion from lenders, in addition to $2 billion it previously obtained — and that it still plans to borrow $600 Continue Reading
U.S., China Exploring Deal to Ease Trade Tensions
New talks would focus on what both sides are calling trade “architecture,” a broad term that could encompass many issues the U.S. has wanted Beijing to address, including intellectual property Continue Reading
U.S. crude, natgas proved reserves hit record highs in 2017: EIA
U.S. crude oil and natural gas proved reserves rose to record highs in 2017, driven by stronger energy prices and the continuing development of shale formations, the U.S. Energy Information Continue Reading
Falling Oil Prices May Make Trump Happy but They Pose Risks for U.S.
Oil prices have plunged by about 25 percent in the last month while the cost of gasoline has tumbled to as little as $2 a gallon in several states. President Continue Reading
U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2017
Stronger oil and natural gas prices combined with continuing development of shales and low permeability formations drove producers of crude oil and natural gas in the United States to report Continue Reading
Volkswagen Plans EV Factory In U.S.
Volkswagen plans to build a factory for affordable electric vehicles in the United States, the company’s new head of North American operations, Scott Keogh told media at an industry event, Continue Reading
Judge Lets TransCanada Do Preliminary Work On Keystone XL
Montana District Judge Brian Morris, who earlier this month ordered the suspension of work on the controversial Keystone XL crude oil pipeline, has now allowed TransCanada to conduct preliminary activities Continue Reading
Alberta Forced To Buy Oil Trains
The Government of Alberta has been forced into buying more oil trains to move crude from the province, the Calgary Sun reports, quoting Premier Rachel Notley as describing the situation Continue Reading
OPEC says low prices hurt US shale companies too, boosting the case for oil output cuts | S&P Global Platts
Prices below $60/b are hurting US shale producers and potentially strengthening OPEC’s hand to introduce tighter quotas and output cuts when the group and its allies meet next week, according Continue Reading
US rig count drops by 25 to 1,183 in week ended November 28
The US rig count dropped by 25 on the week to 1,183 for the period ended November 28, posting small reductions in most of the eight large domestic oil and Continue Reading
Shale Patch Will Likely Cut Budgets Next Year
Shale explorers will likely cut spending budgets next year for the first time since the last price crash as crude spirals down again, analysts said. (Bloomberg) — Shale explorers will Continue Reading
EPA to Keep Exempting Refineries From Biofuel Mandates
The Trump administration has decided to keep waiving some oil refineries from U.S. biofuel mandates, despite pressure from ethanol advocates to end the practice, according to three people familiar with Continue Reading
Alberta to Buy Rail Cars to Ship Crude Amid Pipeline Pinch
Alberta is working to buy rail cars to help ship more crude as pipeline bottlenecks have the oil-rich province grappling with historic low prices. (Bloomberg) — Alberta is working to Continue Reading
Hapless Alberta Takes Action As Oil Prices Crash
Faced with a crisis moving oil out of the country, the provincial government in Alberta is stepping in to purchase trains in order to ease the midstream bottleneck. Western Canada Continue Reading
Exclusive: Russia accepts need for oil cuts, bargains with Saudi on details – sources
Russia is becoming increasingly convinced it needs to reduce oil output in tandem with OPEC but is still bargaining with the producer group’s leader, Saudi Arabia, over the timing and Continue Reading
Farewell to coal: a Polish city wakes up and smells the blossom
When the Wieczorek mine, one of the oldest coal mines in Poland, closed in March, Grzegorz Chudy noticed for the first time the neighborhood was vibrant with trees in the Continue Reading
Bulgarian miners march to protect coal production
Miners and workers at Bulgaria’s largest coal-fired power plant Maritsa East 2 marched in Sofia on Thursday to protect their jobs and to urge the government to support coal-fired energy Continue Reading
Poland plans new coal mine as climate talks loom
Poland will start investing in a new coal mine next year in the south of the country, Deputy Energy Minister Grzegorz Tobiszowski said on Thursday, a few days before U.N. Continue Reading
Is The Saudi-Russia Oil Bromance At Risk?
A week before OPEC and allies meet in Vienna to discuss a new oil production cut, the market is still wondering whether the leaders of the OPEC and non-OPEC nations—Saudi Continue Reading
Russia: Production Cuts Are Needed To Stabilize Oil Markets
Russia has started to concede that it needs to join a fresh Saudi-led oil production cut, but is still bargaining with its key partner in OPEC over how much, how Continue Reading
U.S. slams Russia’s Yamal LNG transfers in Norwegian waters
Allowing ship-to-ship transfers in Norwegian waters from Yamal in Arctic Russia, one of the world’s largest liquefied natural gas (LNG) terminals, undercuts Europe’s energy diversification efforts, the U.S. State Department Continue Reading
Russia nears start-up of its first LNG import facility at Kaliningrad
Russia’s Gazprom Neft is gearing up to start operations at the Kaliningrad floating storage and regasification unit terminal, the country’s first LNG import facility, with the 174,000 cu m vessel Continue Reading
Study infers causal relationship between breast cancer and high exposure to traffic air pollution
A team at the University of Stirling in the UK has found new evidence of the link between air pollution and cancer as part of a new occupational health study. Continue Reading
Tesco, Volkswagen to develop UK electric vehicle charging network
Britain’s biggest retailer Tesco ( TSCO.L ) and German car maker Volkswagen ( VOWG_p.DE ) have teamed up to develop an electric vehicle charging network in the UK, they said Continue Reading
Crude oil futures higher amid mild bargain hunting, OPEC talk
Crude oil futures were higher during mid-morning trade in Asia Thursday, after falling more than $1/b overnight, on mild bargain hunting and comments by producer countries ahead of the OPEC/non-OPEC Continue Reading
Crude Oil Slides Below $50 for First Time in Over a Year
This came after oil prices fell sharply Wednesday after data showed U.S. crude-oil inventories rose for a 10th straight week. An oil field near Bakersfield. Photo: lucy nicholson/Reuters Oil-market participants Continue Reading
Oil prices firm ahead of G20 meeting, but rising supply curbs gains
Oil prices edged up on Thursday on optimism that trade talks at the upcoming G20 meeting could help the global economy and improve demand, but gains were curbed after U.S. Continue Reading
Oil falls below $60/bbl after 10th straight U.S. crude build
Oil fell below $60 per barrel on Wednesday after U.S. crude inventories rose for the 10th straight week amid concerns about excess global supply. Prices, however, rose from the day’s Continue Reading
Five charts on why climate change is bad for your health
Rising temperatures as a result of climate change are already harming human health, according to a new report. City-dwellers and the elderly — especially those in Europe and the eastern Continue Reading
Saudi Arabia wants united front on oil output; Russia and Nigeria hold out
Saudi Arabia will not cut oil output on its own to stabilize the market, Energy Minister Khalid al-Falih said on Wednesday as Nigeria and Russia said it is too early Continue Reading
Natural Gas Drives Saudi Geopolitical Pivot
The world’s largest oil company Saudi Aramco seems to have surprised the global energy markets the last couple of days. New announcements of multi-billion dollar investments in gas related operations, Continue Reading
Saudis Won’t Cut Oil Production On Their Own
Saudi Arabia is going to do whatever it takes to stabilize the oil market, but it can’t and won’t do it alone without a collective decision from the OPEC and Continue Reading
The Real Cost Of Saudi Arabia’s Gas Ambitions
The world’s liquefied natural gas (LNG) market will become even more competitive within the next several years. Saudi Arabia, the world’s largest oil exporter, is now vying to become a Continue Reading
Iran Suspends Gas Exports To Iraq After Earthquake
Iran halted late on Tuesday gas exports to neighboring Iraq for several days, in order to repair pipeline damages caused by an earthquake near the Iraqi border on Sunday night, Continue Reading
Iraq Looks To Squeeze Out Resellers Of Its Crude
Iraq is increasingly edging out resellers of its Basra crude grades on the spot market as its state oil marketing company SOMO aims to have greater share and control over Continue Reading
Nigeria: Refineries Now to Be Fixed in 2020, Not 2019
Plans by Nigerian government to fix Nigeria’s moribund refineries and make them work in utmost capacity will not materialise until 2020, Ibe Kachikwu, Nigeria’s oil minister has said. Mr Kachikwu Continue Reading
Pemex adds 1B barrels of oil reserves in biggest onshore find in 25 years
State oil company Pemex is set to add a billion barrels of oil equivalent to reserves after discovering a gas field that, within four years, will yield 80,000 barrels per Continue Reading
Petrobras sells stakes in Brazilian fields worth $823M to focus on deepwater
Brazilian state oil company Petrobras said Wednesday it has sold onshore and shallow offshore fields in Brazil for $823 million, part of the company’s efforts to divest assets to focus Continue Reading
Brazil Backs Out of Hosting 2019 Climate Change Meeting
Brazil this week pulled out of hosting next year’s United Nations global summit on climate change, the latest signal that Latin America’s largest nation no longer aspires to be an Continue Reading
U.S. crude stockpiles build for tenth straight week: EIA
U.S. crude oil stockpiles rose for a 10th week in a row last week even as refineries boosted output and exports increased, the Energy Information Administration said on Wednesday. Crude Continue Reading
Analysis: US crude stocks build for 10th week, defying expectations
Rebounding refinery utilization and stepped-up export activity failed to blunt US crude stock growth, which extended for a 10th consecutive week, US Energy Information Administration data showed Wednesday. Receive daily Continue Reading
Is The Trade War Coming To An End?
Oil markets appear to be full of uncertainty, awaiting the outcome of the OPEC+ meeting for more direction. But some clues about the trajectory of oil prices in 2019 may Continue Reading
Natural Gas Prices Fall Below Zero In Texas
Surging U.S. oil production in the Permian basin has helped crash oil prices. But the Permian is also home to skyrocketing natural gas production, and output is growing so fast Continue Reading