Oil prices rose on Thursday, boosted by the U.S. threat of sanctions on OPEC member Venezuela, but gains were limited by U.S. data showing record-high gasoline record-highs and an unexpected Continue Reading
Oil prices this year will be influenced primarily by the health of the global economy, which is why prices have closely tracked equity and bond markets in recent months. U.S. Continue Reading
Oil prices are still down sharply from the highs of October 2018, but the industry may still increase spending this year. The cost of developing new projects might rise along Continue Reading
The oil market is heading towards rebalancing this year, most analysts seem to think , with OPEC+ production cuts, combined with a potential slowdown in U.S. shale eating away at Continue Reading
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics Continue Reading
OPEC and its allies do not rule out taking further action at their next meeting in April should oil inventories build up in the first quarter, OPEC’s secretary general told Continue Reading
Iraq’s Federal Supreme Court is seeking more information from both sides in a landmark, seven-year-old case before ruling on legal challenges to the autonomous Kurdistan Regional Government’s (KRG) independent oil Continue Reading
Saudi Arabia is putting itself in a potentially dangerous geopolitical position as it seeks to continue its decades’ long relationship with Washington while at the same time forging new ties, Continue Reading
The strong support for Mr. Maduro is a significant blow to the opposition, which wants to use widespread street protests and international support to help break the military’s allegiance to Continue Reading
Venezuelan parliament speaker Juan Guaidó declared himself interim president at a rally in the capital Caracas on Wednesday, drawing support from several Latin American countries and the U.S. Mr. Maduro Continue Reading
A recent sharp contraction in oil production in Venezuela and projected further declines this year will increase already-severe pressure on the government of President Nicolás Maduro, according to investors, especially Continue Reading
The United States and Venezuela were locked in a tense international standoff Thursday as the Trump administration kept embassy staff in the country despite an official order to eject them, Continue Reading
Five years after former president Enrique Peña Nieto ended Pemex’s monopoly and opened Mexico’s oil industry to private foreign investment, the new administration is betting again on the state oil Continue Reading
Mexico City — The Mexican government said Thursday it had closed the purchase of 670 distribution trucks as fuel shortages continue in several states amid its fight against fuel theft. Continue Reading
Trump administration seeks to strip Maduro of oil revenues Questions surround commercial transactions with Venezuela Treasury guidance could follow sanctions Washington — The US designation of Juan Guaido as Venezuela’s Continue Reading
The Zama appraisal program includes three penetrations. Talos Energy reported late Wednesday that the initial phase of appraisal drilling near its Zama-1 discovery in Block 7 offshore Mexico was concluded. Continue Reading
Political chaos in Venezuela sparked by international support for the leadership of opposition politician Juan Guaidó has called into question more than $25bn worth of investments made by China and Russia, the Continue Reading
The United States and China are “miles and miles” from resolving trade issues but there is a fair chance the two countries will get a deal, U.S. Commerce Secretary Wilbur Continue Reading
U.S. gasoline inventories jumped to a record high in the most recent week even as refiners cut back activity, the Energy Information Administration said on Thursday, while crude stocks rose Continue Reading
The United States is on track to produce more crude oil and liquids than Russia and Saudi Arabia put together by 2025, consultancy Rystad Energy said on Thursday. U.S. liquids Continue Reading
Magellan Midstream Partners LP has begun talks with companies developing crude transportation assets in Freeport, Texas, as it considers building a U.S. crude export terminal there instead of its previously Continue Reading
In the backyard of California’s Capitol sits Franklin Boulevard, a largely industrial area where many residents earn a living keeping old vehicles on the road. The state, which has been Continue Reading
When Alberta Premier Rachel Notley announced obligatory production cuts of 325,000 bpd in December in a bid to tackle a deep discount between Western Canadian Select and West Texas Intermediate, Continue Reading
Canadian crude-by-rail exports edged higher to a record in November, topping the 300,000 b/d level for only the second time since the government has kept statistics on shipments. Exports by Continue Reading
Cracks are emerging in the U.S. oil machine. Shale oil’s relentless production growth is easing, with growth next month set to be the weakest since May, according to the Energy Continue Reading
U.S. shale production growth could slow by as much as half this year, according to one industry titan. Continental Resources’ Harold Hamm said that shale growth could decline by as Continue Reading
Volkswagen said it would create a unit to manufacture electric car batteries, as it prepares to mass produce electric cars and overhaul its components division which currently makes engines, gearboxes Continue Reading
Russia came in as China’s largest crude oil supplier in December, cementing the top spot for all of 2018 for the third year in a row ahead of rival Saudi Continue Reading
In 1988, Joseph Tainter published a fundamental study on the collapse of societies, proposing the existence of a common cause, diminishing returns, for the fact that all past empires and Continue Reading
Crude oil futures were lower during mid-morning trade in Asia Thursday amid bearish data released on US crude inventory by the American Petroleum Institute while sanctions on Venezuela’s oil sector Continue Reading
Oil prices declined on Thursday on lingering concerns that slowing global economic growth may limit fuel demand and after a surprise build in U.S. crude inventories. International Brent crude oil Continue Reading
The American Petroleum Institute (API) reported a large surprise crude oil inventory build of 6.55 million barrels for the week ending Jan 18, compared to analyst expectations that we would Continue Reading
Oil prices slipped on Wednesday as the European Union seeks to circumvent U.S. trade sanctions against Iran, and on weaker U.S. gasoline prices. Brent futures fell 36 cents, or 0.6 Continue Reading
Last year, oil prices rallied all the way up to a four year high before plunging more than $30. There were many factors at play during that volatile period, most Continue Reading
Russia’s involvement in the Syrian civil war dramatically changed the balance of power. Before the intervention, government forces were quickly losing ground to numerous rebel groups. Moscow’s motives to send Continue Reading
The capacity expansion of the world’s largest liquefied natural gas (LNG) exporter, Qatar, has attracted a lot of interest, and oil and gas majors who are Qatar’s long-standing partners, as Continue Reading
Iran has struck oil in a hitherto untapped region, Oil Minister Bijan Zanganeh told local media as quoted by Reuters. “This is the first time we’ve reached oil in the Continue Reading
Iraq’s Federal Supreme Court ruled on Wednesday that several articles of a law to revive the Iraqi National Oil Company (INOC) were unconstitutional – effectively sending the government back to Continue Reading
OPEC highlights engagement with US producers Barkindo says Trump scoldings just ‘miscommunication’ Hess Corporation CEO thanks OPEC for oil cuts London — The head of a US shale oil company Continue Reading
Saudi Arabia isn’t buying the peak oil demand narrative. OPEC’s largest producer continues to expect global oil demand to keep rising at least by 2040 and sees itself as the Continue Reading
South Korea imported no Iranian crude for the fourth straight month in December due to the re-imposition of US sanctions on Tehran, while intakes from the US and Kazakhstan rose Continue Reading
The Trump administration ratcheted up pressure on Venezuelan President Nicolas Maduro on Wednesday, signaling potential new sanctions against the country’s vital oil sector as it recognized Venezuela’s opposition leader as Continue Reading
The prospect of further falls in Venezuela’s oil output after the US and Canada embraced its opposition leader as interim president caused tremors in energy markets, underlining the Opec member’s Continue Reading
China and the United States will have in-depth discussions on economic and trade issues during Chinese Vice Premier Liu He’s U.S. visit next week, the Chinese commerce ministry said on Continue Reading
This year could be different, after economic growth in 2018 slackened to its slowest pace since 1990 and annual auto sales fell for the first time since that same year. Continue Reading
China’s gasoline and gasoil exports climbed to multi-month highs in December amid oil companies’ rush to use up product-export quotas by the year-end. Gasoline exports climbed to a seven-month high Continue Reading
Boeing Co said its flying car prototype hovered briefly in the air during an inaugural test flight on Wednesday, a small but significant step as the world’s largest planemaker bids Continue Reading
U.S. oil producers sought on Wednesday to soothe OPEC’s worries about losing market share, telling the group that investors in the U.S. firms wanted a reduction in growth and higher Continue Reading
President Trump’s efforts to change California’s longstanding, but stringent low carbon fuel standards could get even tougher. A three-judge panel of the 9th U.S. Circuit Court of Appeals on Friday Continue Reading
ExxonMobil and Renewable Energy Group (REG) signed a joint research agreement with Clariant to evaluate the potential use of cellulosic sugars from sources such as agricultural waste and residues to Continue Reading
