Brent crude rises but set for first yearly drop since 2015
Oil prices rose about 2 percent on the final day of the year on Monday, mirroring gains in stock markets, but were on track for the first annual decline in Continue Reading
Oil Markets Brace For A Rebound
Crude oil and natural gas futures are sharing a similar pattern this week. Both markets reached their lows early on before sitting in a range the rest of the week. Continue Reading
Why Oil Prices Rose And Crashed In 2018
Last week the price of West Texas Intermediate (WTI) crude oil, the primary U.S. benchmark, fell to a 17-month low. The price, $45.88/bbl, marks a stunning fall from a price Continue Reading
Energy issues to watch in 2019
Forecasting is a dangerous game and one of the easiest ways to invite ridicule. The following comments, therefore, are not forecasts but simply form an indicative list of the key Continue Reading
Rising gas supply powers Kurdistan’s electricity revival
The Kurdistan Regional Government (KRG) is making progress toward achieving 24-hour electricity – taking advantage of rising natural gas production to help close the gap between power supply and demand. Continue Reading
Mexican Army Starts Major Crackdown On Fuel Theft
Mexico’s military have taken control over 58 key fuel installations in the country, including refineries, upon orders by new President Andres Manuel Lopez Obrador, who has vowed to fight corruption Continue Reading
China to adopt Euro 6 equivalent fuel norms from Jan 1, 2019
China will adopt its latest National Phase VI/VIA vehicle fuel standards, equivalent to the Euro 6 emission standards, nationwide starting January 1, 2019, as planned, the National Development and Reform Continue Reading
China to end the year as worst performing stock market
A trade dispute with the US and a crackdown on shadow banking made China the world’s worst-performing major stock market in 2018, shedding some $2.3tn in value. Investors say that Continue Reading
Low Oil Prices Could Cripple Texas Job Growth
Job growth in Texas is not exactly screeching to a halt, but low oil prices could start to lead to weaker employment figures. “The Texas labor market will likely tighten Continue Reading
This Supermajor Is Leading The Energy Sector
ConocoPhillips is the best-performing energy stock on the S&P 500 Energy Index this year. The news is all the more impressive because it is the only stock with a positive Continue Reading
US energy independence is not the shining prize it seems
It is a common sensation at this time of year: waiting for something in eager anticipation, only to find it disappointing when it eventually arrives. For decades, the US has Continue Reading
Shale Drillers Cut Budgets as Oil Prices Drop
Producers Diamondback Energy Inc., FANG -1.07% Parsley Energy Inc. PE -2.18% and Centennial Resource Development Inc. CDEV -1.63% either plan to operate fewer drilling rigs in 2019 or recently lowered Continue Reading
Combustion engine car sales to hit peak demand in 2018, say analysts
Sales of internal combustion engine cars in 2018 are unlikely to be surpassed in any future year, as demand in the world’s three largest markets stalls and carmakers seek to Continue Reading
The energy industry must engage with climate change
When I started my career in the oil industry more than 50 years ago, nearly three-quarters of people around the world lived in extreme poverty. Today, that figure stands at Continue Reading
Airlines prepare for blizzard of climate challenges
Gain a global perspective on the US and go beyond with curated news and analysis from 600 journalists in 50+ countries covering politics, business, innovation, trends and more. Choose the Continue Reading
Crude oil futures recover on bullish equity markets; ICE Brent up at $52.97/b, NYMEX WTI $45.56/b
Crude oil futures recovered during European trading Friday morning following the overnight plunge, getting a lift from rising equity markets, analysts said. At 1052 GMT, ICE February Brent crude futures Continue Reading
Oil prices steady near year-and-a-half lows ahead of New Year
Oil prices steadied on Friday after a week of volatile trading ahead of the New Year holiday, supported by a rise in U.S. equity markets but pressured by worries about Continue Reading
Oil Prices Set To Rebound In 2019
Crude prices finished off the year with a small rally, and analysts are suggesting oil could climb even higher in the coming months. (Click to enlarge) (Click to enlarge) (Click Continue Reading
LNG Project Sanctions Set to Surge in 2019
Uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 mtpa by 2030. Uncontracted demand by the world’s seven largest liquefied natural gas (LNG) buyers could increase Continue Reading
Mexican army takes control of refineries to fight rampant fuel theft
The Mexican army took control of state oil company Pemex refineries where some unionized workers were preventing access to strategic areas. Mexican President Andres Manuel Lopez Obrador said that at Continue Reading
Record-shattering heat wave scorches Australia as temperatures reach 120 degrees
A record-shattering heat wave continued to scorch Australia on Thursday as temperatures soared above 120 degrees in some spots. The extreme heat has spurred on health warnings, air quality alerts Continue Reading
EIA Inventory Report Stops Price Slide
A day after the American Petroleum Institute pressured already stressed oil prices further with an unexpected inventory build, the Energy Information Administration reported instead that crude oil inventories were virtually Continue Reading
U.S. drillers add oil rigs for second week in a row: Baker Hughes
U.S. energy firms added oil rigs for a second week in a row even as oil prices fell to 1-1/2-year lows and headed for losses of more than 20 percent Continue Reading
U.S. crude flows to Europe hit 11-month low in December
U.S. crude exports to Europe fell to an 11-month low this month as a shrinking discount and rising shipping costs squeezed demand for U.S. barrels, according to Refinitiv Eikon data Continue Reading
E.P.A. Proposes Rule Change That Would Let Power Plants Release More Toxic Pollution
The Trump administration announced on Friday a plan designed to make it easier for coal-fired power plants, after nearly a decade of restrictions, to release into the atmosphere more mercury Continue Reading
Summary of Weekly Petroleum Data for the week ending December 21, 2018
U.S. crude oil refinery inputs averaged 17.4 million barrels per day during the week ending December 21, 2018, which was 58,000 barrels per day less than the previous week’s average. Continue Reading
U.S. Rig Count Rises As Canadian Drillers Prepare For Winter
Coming off a rather abysmal week for oil prices, Baker Hughes reported a 3-rig increase for oil and gas in the United States this week. The total number of active Continue Reading
Canada Is Producing More Oil Than It Can Handle
Western Canada is producing 365,000 bpd more crude oil that current pipeline capacity can handle, a new report from the National Energy Board has revealed. According to the authority, as Continue Reading
US EPA proposes to revoke legal basis for Obama-era rule targeting coal plants
In a move with major implications for future air quality regulations, the US Environmental Protection Agency Friday proposed to rescind the legal justification for an Obama-era rule that has dramatically Continue Reading
Bakken processing plant expansion helps curb natural gas flaring
Although natural gas flaring in the Bakken Shale set records in 2018, those levels are starting to fall as the first of one of several processing plants planned for the Continue Reading
Outlook 2019: Upstream oil exploration, development set to surge in Alaska
Alaska’s upstream oil industry is expecting to see a surge in exploration and development in 2019 as companies drill to delineate new North Slope and National Petroleum Reserve-Alaska discoveries. But Continue Reading
US Adds Oil Rigs for Second Week in a Row
The US added two oil rigs this week, marking the second week of increases. The U.S. added two oil rigs this week, marking the second consecutive week for an increase, Continue Reading
Fed Says Texas Job Growth to Take Hit If Oil Rout Continues
Job growth in the Lone Star State will likely weaken in the first half of 2019 if oil prices remain at current levels, according to the Federal Reserve Bank of Continue Reading
Analysis: US crude inventories static as rising production balances export surge | S&P Global Platts
US crude supply was little changed week on week as an uptick in production was matched by sharply higher exports last week, US Energy Information Administration data showed Friday. US Continue Reading
Amid Export Boom, US Continues Importing Natural Gas
The U.S. may be exporting natural gas at a record clip, but that hasn’t stopped it from accepting new imports. A tanker with fuel from Nigeria has berthed at the Continue Reading
Oil prices rebound but still weak due to oversupply
Oil prices rebounded on Friday, clawing back some of the ground lost this week, but remained close to their lowest levels in more than a year as rising U.S. inventories Continue Reading
Crude settles lower amid volatile equity session
Crude futures plunged ahead of the market settle Thursday as equity markets tested session lows in midafternoon trading. ICE February Brent settled $2.31 lower at $52.16/b and NYMEX February WTI Continue Reading
Surprise Inventory Build Sends Oil Prices Lower
The American Petroleum Institute (API) reported a surprise crude oil inventory build of 6.9 million barrels for the week ending December 21, compared to analyst expectations that we would see Continue Reading
Oil prices slide as concerns about global economy, oversupply weigh
Oil prices fell on Thursday, retreating from an 8 percent rally in the previous session as the oil market focused on signs of faltering global economic growth and record production Continue Reading
Has Oil Hit Rock Bottom?
Oil prices roared back on Wednesday, rebounding and regaining some of the steep losses suffered in previous trading days. The bounce suggests there is some signs of life in the Continue Reading
OPEC+ Will Not Be Formalized
OPEC and Russia-led non-OPEC oil producers are highly unlikely to create some kind of a formal joint organization for managing the oil market, due to the additional bureaucracy and to Continue Reading
Saudi Shake-Up Seeks to Bolster Crown Prince
The new Saudi foreign minister, Ibrahim al-Assaf, seen above in 2013, is a former finance minister. Photo: fayez nureldine/Agence France-Presse/Getty Images At the same time, the king positioned longtime Saudi Continue Reading
Saudi King Shakes Up Cabinet, Keeping Power in Son’s Hands
King Salman of Saudi Arabia shook up the kingdom’s cabinet on Thursday, naming new ministers and security chiefs but keeping the levers of power firmly in the hands of his Continue Reading
Libyan oil revenue dips to $2.4 billion in November: NOC
Libya’s oil and gas revenue dipped to $2.4 billion in November from $2.87 billion in October, but full-year revenue is expected to surge by 76 percent to $24.2 billion, state Continue Reading
Exxon’s Drilling Offshore Guyana Uninterrupted
Exxon is still drilling offshore Guyana despite a run-in with the Venezuelan navy last weekend, the company said, as quoted by Reuters. Initial reports from earlier this week said the Continue Reading
Venezuela: A Real Threat To Guyana’s Oil Boom
Last Friday, the Guyanese government fell after a no-confidence vote, a move that likely was viewed as an opportune moment of weakness in Caracas. A day later, Venezuela’s navy approached Continue Reading
Shell Argentina invests to increase shale output after selling downstream assets
Shell, which two months ago sold its downstream assets in Argentina, said Thursday it will invest in coming years to expand its shale oil output in the country. Photo courtesy Continue Reading
Asia’s Iran crude imports hit more than five-year low in November as sanctions bite
Imports of Iranian crude oil by major buyers in Asia hit their lowest in more than five years in November as U.S. sanctions on Iran’s oil exports took effect last Continue Reading
Cold Spell Boosts Asian LNG Imports
Cold weather and China’s consistent gasification efforts pushed liquefied natural gas imports into Northeastern Asia to a record-high, Reuters reports , citing data from its Refinitiv Eikon service. Since the Continue Reading
Is Solar Growth Really Lagging?
Solar makes sense. It’s cost efficient, it’s eco-friendly and has no carbon footprint, electricity is generated in the same grid where it is consumed, and the price of installing panels Continue Reading