India’s crude imports surged to 5 million b/d in October to register the highest monthly inflows in more than seven years as refiners rushed to ship in cargoes amid doubts Continue Reading
In the past, Brazil’s massive state-owned oil company Petroleo Brasileiro SA (Petrobras) has operated at the whim of Brazilian politics, a volatile model to say the least. After years of Continue Reading
Venezuela’s state-run oil firm PDVSA has begun talks with shipping firms to set up a second ship-to-ship (STS) operation off the country’s eastern coast in an effort to increase sagging Continue Reading
South Korea’s oil products demand fell 8.5% year on year in October due to higher retail prices and a domestic economic slowdown, data released late Thursday by Korea National Oil Continue Reading
The population of China’s capital, Beijing, fell for the first time in two decades in 2017, the official Xinhua news agency reported, citing official data. The number of permanent residents Continue Reading
Alberta’s oil producers are facing an extraordinary challenge caused by pipeline bottlenecks combined with growing production, Scotiabank Economics said in a report released this week. The bottlenecks could pressure the Continue Reading
MIT researchers have demonstrated that an aircraft with a 5-meter wingspan can sustain steady-level flight using ionic-wind propulsion. The aircraft has no moving parts, does not depend on fossil fuels Continue Reading
Chevron’s operated Big Foot deepwater project starts crude oil and natural gas production. Chevron has announced that its operated Big Foot deepwater project, located in the U.S. Gulf of Mexico, Continue Reading
Canada’s oil industry is facing record-low prices for its exports, a glaring lack of infrastructure to bring its product to market, and an uncertain long-term outlook . But none of Continue Reading
Justin Trudeau’s government is unlikely to heed Alberta’s plea for new trains to alleviate the country’s oil crisis, federal officials say. Buying new locomotives and rail cars isn’t a short-term fix Continue Reading
It’s the latest sign of a mini renaissance in the region’s oil industry, as major divestment programs by big oil companies have attracted new players and investment. Meanwhile, giants like Continue Reading
The Southern Gas Corridor on which the European Union is pinning most of its hopes for natural gas supply diversification away from Russia is coming along nicely and will not Continue Reading
Crude oil futures were lower during mid-morning trade in Asia Thursday amid a mix of bullish and bearish indicators in weekly US inventory data as market focus remains on the Continue Reading
A day after the American Petroleum Institute’s weekly inventory estimate slowed down the price decline in West Texas Intermediate, the Energy Information Administration dampened optimism by reporting a build of Continue Reading
Oil prices rose about $1 a barrel a barrel on Wednesday, bouncing from the lowest levels in months, after U.S. government data showed strong demand for refined fuel, but concerns Continue Reading
Global financial markets are once again throwing up some warning signs, as the selloff in equities entirely erased the gains made in U.S. stock markets for 2018. The economic and Continue Reading
The energy transition is the focus of much discussion. To read the accounts in the mainstream media, one gets the impression that renewable energy is being rolled out quickly and Continue Reading
Coal fired plants such as this one in Arizona are a significant source of carbon emissions Concentrations of key gases in the atmosphere that are driving up global temperatures reached Continue Reading
When last week news broke that Libya’s UN-recognized government and the eastern rival government might just be willing to settle their differences and hold elections early next year, its significance Continue Reading
The United States has moved to disrupt an Iranian-Russian network that sent millions of barrels of oil to Syria and hundreds of millions of dollars to indirectly fund militant groups Continue Reading
Saudi Arabia’s crude oil exports hit their highest in 20 months in September, while the Kingdom’s production in early November appears to have hit the highest on record, on the Continue Reading
Baghdad — OPEC and its allies will work to stabilize the oil market and reverse the slump in prices when they meet in Vienna in two weeks, Iraq’s deputy oil Continue Reading
Argentina will be joining the ranks of exporters of liquefied natural gas (LNG) next year when it stars exporting gas from its Vaca Muerta shale play. Argentina’s energy firm YPF Continue Reading
India imported 21.02 million tons of crude last month, the highest number in at least seven years and a 10.5-percent increase from October 2017, data from the oil ministry cited Continue Reading
South Korea is continuing to hold its dominant position in tanker delivery of liquefied natural gas (LNG) by winning major shipping orders over the next three years valued at more Continue Reading
Iran’s largest oil customer China is set to continue importing robust volumes of Iranian crude at least through the end of this year thanks to the U.S. waivers to eight Continue Reading
Recent activity in the US Gulf Coast shipping market signals that Chinese buyers have returned to buying US crudes oil after halting all imports of US grades in August and Continue Reading
(Reuters) – U.S. energy firms this week cut oil rigs for the first time in the three weeks as crude prices have fallen to their lowest in over a year. Continue Reading
U.S. crude oil stockpiles rose more than expected last week, building for the ninth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude Continue Reading
Baker Hughes reported a 3-rig decrease for oil and gas in the United States this week. The total number of active oil and gas drilling rigs now stands at 1,079 Continue Reading
While the U.S. oil industry has hit a speed bump with the recent $20 drop in oil prices in New York, producers in Canada are in a full-blown crisis. Heavy Canadian Continue Reading
The Department of Justice is formally reviewing antitrust legislation aimed at reining in OPEC’s power over oil markets, according to a department official. While the study is ongoing, there is Continue Reading
An aerial rendering of the Jacksonville Export Project. SOURCE: Business Wire The U.S. Federal Energy Regulatory Commission (FERC) has granted Eagle LNG Partners a draft environmental impact statement (DEIS) for Continue Reading
Russia’s Gazprom will soon complete the bulk of the work for one its most ambitiuos projects ever that involves building a natural gas pipeline from Siberia to its border with Continue Reading
Drax, operator of the UK’s largest power station, is partnering with the Smart Green Shipping Alliance ( SSGA ), leading dry bulk cargo transporter Ultrabulk, and Humphreys Yacht Design to Continue Reading
Gazprom Export, the export arm of Russian gas giant Gazprom, has stopped the natural gas auctions on its electronic sales platform because all natural gas available until the end of Continue Reading
Oil bounced above $63 a barrel on Wednesday to claw back some of the previous day’s 6 percent plunge, lifted by a report of an unexpected decline in U.S. crude Continue Reading
The American Petroleum Institute (API) reported a surprise crude oil inventory draw this week, of 1.545 million barrels for the week ending November 16. The draw this week was the Continue Reading
Oil prices tumbled about 7 percent on Tuesday, with U.S. crude plunging to its lowest level in more than a year, caught in a broader Wall Street selloff that was Continue Reading
“After the United States, Saudi Arabia is the largest oil-producing nation in the world,” Mr. Trump said in a statement. “They have worked closely with us and have been very Continue Reading
Oil markets are entering an unprecedented period of uncertainty due to geopolitical instability, the head of the International Energy Agency said on Tuesday. “We are entering an unprecedented period of Continue Reading
Goldman Sachs said in a note on Wednesday that it expects oil markets to remain highly volatile in the coming weeks. Oil markets clawed back some ground on Wednesday after Continue Reading
Oil production in North Dakota. Prices have fallen to their lowest levels of the year with traders increasingly focused on trade tensions and rising interest rates. Jim Wilson/The New York Continue Reading
Oil prices are off 25 percent from their four-year highs reached in early October, after the massive sell-off that began later that month which dragged crude oil squarely into bear Continue Reading
Oil industry executives are surely pleased with themselves this year, with both large and small companies reporting improved financials after years of struggling. A Reuters survey finds a significant shift Continue Reading
Wood Mackenzie isn’t pulling any punches. “The warning signs are there – the industry isn’t finding enough oil.” And its latest report continues in the same ‘spade is a spade’ Continue Reading
This part of the Annual Report provides updated analysis of world carbon dioxide emissions from fossil fuels consumption, evaluates the future prospect of global warming and considers the implications of Continue Reading
The energy transition is the focus of much discussion. To read the accounts in the mainstream media, one gets the impression that renewable energy is being rolled out quickly and Continue Reading
Saudi Aramco has changed its mind about a bond sale of about US$40 billion that would have funded the bigger part of its planned acquisition of a majority stake in Continue Reading
OPEC will very likely agree to cut oil production at its upcoming meeting in early December, although the size of the cuts is yet to be decided, Ahmed al-Kaabi, Governor Continue Reading
