Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast. The country’s oil production will average 4.59 million barrels a Continue Reading
Flying cars were thought to be coming as soon as four years from now , but actually commercial models are coming up sooner than what had been thought. Air taxi Continue Reading
Home sales are slowing as interest rates rise. David Zalubowski/Associated Press WASHINGTON — Emerging signs of weakness in major economic sectors, including auto manufacturing, agriculture and home building, are prompting Continue Reading
When the price of crude oil goes through one of its periodic downturns, as it is doing now, it sends a shiver through the oil industry. History promises that higher Continue Reading
Canada’s Alberta is in talks to buy rail cars to transport 120,000 barrels per day (bpd) of crude oil and expects a deal to conclude within weeks, Premier Rachel Notley Continue Reading
The Trump Administration has temporarily frozen a program meant to exempt small oil refineries in financial distress from the U.S. biofuels law, as it reviews the scoring system to evaluate Continue Reading
Energy Transfer LP ( ET.N ) and its Sunoco pipeline subsidiary have racked up more than 800 state and federal permit violations while racing to build two of the nation’s Continue Reading
Summary of Weekly Petroleum Data for the week ending November 23, 2018 U.S. crude oil refinery inputs averaged 17.6 million barrels per day during the week ending November 23, 2018, Continue Reading
The spending plans of oil majors BP and Equinor are unaffected by the more than 25 percent drop in oil prices since early October, their CEOs said on Wednesday. Oil Continue Reading
The oil price plunge of the past weeks has had OPEC considering a fresh production cut to prevent the next oil glut and steer Brent Crude prices back up closer Continue Reading
Highlights Cooperative approach can cut costs, increase ambition Almost 200 countries to meet in Katowice, Poland, for climate talks London — An international system of emissions trading between nations could Continue Reading
A continued weaker oil price could hinder progress of the electric vehicle revolution, as the costs of investment become unattractive, a panel discussion said Wednesday. Speaking at the annual Mines Continue Reading
Oil majors and trading firms can start finalizing crude oil deals on a live blockchain-based platform for the first time, in a move that could revolutionize the market. Commodities trading Continue Reading
For years, boosters of U.S. LNG have trumpeted the fact that gas exports from the Gulf of Mexico could break Russia’s grip on the European energy market. That has yet Continue Reading
Russia is comfortable with the current level of oil prices at around $60 a barrel, Russian President Vladimir Putin said at an investment forum on Wednesday, also thanking Saudi Arabia Continue Reading
Oil rose further above $60 a barrel on Wednesday, supported by expectations that OPEC and its partners will next week decide to curb supply and helped by a drop in Continue Reading
The ongoing slump in oil prices, which has seen crude fall so sharply from the 52-week high set in October that $1 trillion has been wiped off energy stocks, will Continue Reading
Oil prices dipped on Tuesday, weighed down by uncertainty over the U.S.-China trade war and signs of increased global crude production, but losses were limited by expectations that crude exporters Continue Reading
What sparked the reversal? Investors and oil traders had a sudden rethink about how much oil would be pumped onto world markets in coming months. The main factors: booming U.S. Continue Reading
Global oil markets are nervously eyeing OPEC’s upcoming meeting for clarity on future supply as the dust settles after a full-fledged rout in crude markets over the last several weeks. Continue Reading
Carbon emissions have not yet peaked in many countries the report says Global efforts to tackle climate change are way off track says the UN, as it details the first Continue Reading
Saudi Arabia’s plans to build a nuclear power plant will speed up the Kingdom’s economic development as it would diversify its over-reliance on crude oil, a Saudi energy expert told Continue Reading
Iraq has allocated 67 percent of its 2019 oil sales to Asia, the country’s oil ministry said on Tuesday, as OPEC’s second-biggest producer aims to sell more of its oil Continue Reading
Donald Trump continues to take credit for lowering oil prices. So great that oil prices are falling (thank you President T). Add that, which is like a big Tax Cut, Continue Reading
Power generation plummeted Tuesday after the shutdown of a pipeline carrying natural gas from Iran, which provides more than one-quarter of Iraq’s electricity feedstock. “The pipeline delivering gas to Iraq Continue Reading
Iraq’s crude oil exports from its southern ports on the Gulf stood at around 3.3 million barrels per day (bpd) so far in November, three oil executives said on Tuesday. Continue Reading
Iraq has approved a $156.74 million drilling deal with China’s Bohai Drilling Engineering Co. for the West Qurna Two oilfield, two Iraqi oil officials said on Tuesday. Under the 24-month Continue Reading
Brazil has more than doubled the number of risky ship-to-ship oil transfers this year, but its monitoring of such offshore maneuvers is lax, to a point where a July 2017 Continue Reading
Prices for liquefied natural gas (LNG) remain weak going into what forecasters are claiming will be a warmer than usual winter season in the Northern Hemisphere. In fact, last week Continue Reading
The American Petroleum Institute (API) reported a crude oil inventory build of 3.453 million barrels for the week ending November 23, compared to analyst expectations that we would see a Continue Reading
They do so through a shifting array of tactics obscuring the ships’ links to Pyongyang. Crews use fake customs manifests and paint over hulls with false names. At sea, they Continue Reading
The day before Thanksgiving, US president Donald Trump thanked the Kingdom of Saudi Arabia for making oil cheaper. “Like a big tax cut for America,” is how he described it. Continue Reading
The federal government’s sweeping new National Climate Assessment is more than just a dire warning about current and future global warming effects across the United States. It’s also the most Continue Reading
The North Dakota Public Utilities Commission approved a 150 MMcf/d expansion to Kinder Morgan’s Roosevelt gas processing plant in McKenzie County, increasing the total of significant new plants or expansions Continue Reading
The Plaquemines Liquids Terminal would open up to 20 million barrels of storage for both crude oil and refined products and export facilities capable of loading Suezmax and VLCC vessels. Continue Reading
The U.S. Environmental Protection Agency (EPA) has rejected requests from the corn lobby to reallocate biofuel volumes waived under its small refinery exemption program into its 2019 mandate, an agency Continue Reading
Germany’s oil industry has no plans to demand the release of more oil products from national reserves to help areas affected by tight supply, an industry body said on Tuesday. Continue Reading
In the green-to-golden steppe some 1,500 km east of Moscow, a unit of Gazprom Neft, Russia’s third-biggest oil producer, is drilling hard as it eyes a production hike of 20 Continue Reading
Oil supermajor Shell sees electric vehicle (EV) enthusiasts buying into the ‘cool factor’ of zero emission vehicles, driving EVs fleet growth regardless of the oil price fluctuations, the head of Continue Reading
Cutting carbon emissions to zero in line with the Paris climate accord could require up to €290bn a year in additional investment in Europe, the EU will say as it Continue Reading
Russian Energy Minister Alexander Novak met Russian oil companies on Tuesday to discuss cooperation between OPEC and non-OPEC oil producers, according to two sources who were informed that the meeting Continue Reading
Crude oil futures edged lower in mid-morning trade in Asia Tuesday amid supply uncertainty in the lead-up to the G20 summit and OPEC meetings over the next fortnight. At 11:05 Continue Reading
Oil prices steadied on Tuesday, depressed by record Saudi production but supported by expectations that oil exporters would agree to cut output at an OPEC meeting next week. Brent crude Continue Reading
Oil prices rose nearly 3 percent on Monday, clawing back some of last week’s steep losses, although gains were capped by uncertainty over global economic growth and further signs of Continue Reading
Goldman Sachs believes that the price of oil and other commodities are set for a rebound next year and the first catalyst could come as early as this weekend at Continue Reading
U.S. oil production has skyrocketed this year, leaving even the most optimistic forecasts in the dust. But, the recent crash in oil prices could do what the much-hyped pipeline bottlenecks Continue Reading
Crude market volatility has soared in the second half of 2018, with prices touching a four year high before entering their longest losing streak in three decades. Analysts were calling Continue Reading
The Organization of the Petroleum Exporting Countries has been marginalized as critical decisions about the oil market are taken by a troika of the United States, Russia and Saudi Arabia. Continue Reading
On the day U.S. sanctions against Iran went into effect, Brent crude traded at US$72.68 a barrel. Today, three weeks later, Brent is down to US$59.59 a barrel and President Continue Reading
Iran wants to agree on a schedule with state-owned China National Petroleum Corp. to begin developing Phase 11 of the country’s South Pars gas field after the Chinese company replaced Continue Reading
