Saudi Arabia in November exported its highest volumes of crude oil in two years, the latest figures from the Joint Organizations Data Initiative showed Monday, as the kingdom boosted its Continue Reading
Country loses estimated N995.2bn annually A new report on the age-long crude oil theft in Nigeria has revealed how International Oil Companies (IOCs) in the Niger Delta region steal and Continue Reading
Oil thieves illegitimately refining crude oil at Otor-Edo and surrounding communities in Ughelli South Local Government Area, Delta State, and soldiers from the 222 Battalion, Agbarha-Otor, in the state are Continue Reading
China’s refinery crude throughput rose 4.4% year on year to 51.17 million mt, or an average 12.10 million b/d, in December, preliminary data released by the National Bureau of Statistics Continue Reading
Amid increasing signs of China’s industrial slowdown in 2019, data this week showing record oil and natural gas imports likely indicates a country at peak energy growth, with its thirst Continue Reading
China’s domestic thermal coal production and consumption would fall steeply in the coming weeks as several industries and mines are likely to come to a standstill ahead of the Lunar Continue Reading
Oil prices were up early on Monday, steadying at a two-month high last seen in mid-November, as the plunging U.S. rig count last week signaled a slowdown in shale drilling Continue Reading
Japanese technology giant Hitachi on Thursday Jan 17 announced it was suspending all further work at its Wylfa Newydd nuclear project in Anglesey, north Wales. This decision by Hitachi’s Board Continue Reading
Norway’s oil production fell by 2.1 percent year-on-year in December and lagged the Petroleum Directorate’s forecast for the month by 2.5 percent amid technical problems at some offshore fields, the Continue Reading
The carbon-rich permafrost warmed “in all permafrost zones on Earth” from 2007 to 2016, according to a new study. Most ominously, Siberian permafrost at depths of up to 30 feet Continue Reading
The climate data for 2018 is now mostly in, though the ongoing shutdown of the US government has caused some datasets to be delayed. In this article, Carbon Brief explains Continue Reading
Greenland’s enormous ice sheet is melting at such an accelerated rate that it may have reached a “tipping point,” and could become a major factor in sea-level rise around the Continue Reading
Crude oil futures moved sideways during mid-morning trade in Asia Monday, continuing to hold on to support from signs that supply may tighten while market participants digested news of China’s Continue Reading
Oil prices fell on Monday, in line with weaker stock markets after evidence that economic growth in China, the world’s second-largest crude consumer, eased in 2018. Brent crude oil futures Continue Reading
“The world is in a transition between an era dominated by fossil fuels and one focused on a low-carbon economy,” David Koranyi wrote in a report for the Atlantic Council. Continue Reading
The “journey to a balanced market will take time, and is more likely to be a marathon than a sprint.” The International Energy Agency (IEA) said that the OPEC+ cuts Continue Reading
There is no respite for Libya on its bumpy road to recover crude oil production to the levels of 2011, when the toppling of Muammar Gaddafi plunged the country into Continue Reading
Egypt plans to upgrade six oil refineries at a cost of about $9 billion over four years to increase domestic production to 41 million tonnes a year, the petroleum minister Continue Reading
South Sudan has begun to repair and pump oil from wells damaged in the civil war and will ramp up production by the end of the year, the oil minister Continue Reading
Mexico’s new government knew a pipeline was leaking but did not act for hours before a blast killed at least 85 people, a minister said on Sunday, increasing scrutiny of Continue Reading
Japanese refiners have loaded Iranian oil onto a tanker, resuming imports after halting purchases because of sanctions by the United States, a spokesman for a Japanese refinery and an Iranian Continue Reading
China’s December coal output climbed 2.1 percent from the year before, government data showed, hitting the highest level in at least three years as major producers ramped up production amid Continue Reading
China’s average daily steel output in December hit its lowest level since March, according to Reuters calculations based on official data, as producers cut output amid shrinking profit margins. Total Continue Reading
The 6.6% growth rate for 2018 reported Monday is the slowest annual pace China has recorded since 1990. The economic downturn, which has been sharper than Beijing expected, deepened in Continue Reading
In the vast metropolis of Chongqing in western China, three huge Ford Motor assembly plants have slowed to a fraction of their earlier pace. In the eastern province of Jiangsu, Continue Reading
China’s economy is slowing, and the slowdown is likely worse than Beijing says. Official numbers released on Monday show an economy that is posting new, but manageable, lows. For the Continue Reading
China’s economic growth, though still strong by some countries’ standards, has slowed to rates unseen in a quarter-century, and it is expected to flag further in 2019. Some economists project Continue Reading
Climate change is challenging the utility industry’s traditional risk management assumptions. Many of the most costly natural disasters have occurred over the past decade. While there are solutions to address Continue Reading
The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog Continue Reading
Ever wanted to run your electric car for free? If you’re open to a bit of give and take, then stay plugged in and your wishes might come true. At Continue Reading
Oil prices rallied about 3 percent on Friday, boosted after OPEC detailed specifics on its production-cut activity to reduce world supply, and on signals of progress in resolving the U.S.-China Continue Reading
Oil prices were relatively quiet this week, bouncing around, but closed out the week on a positive note. T IEA: Balancing oil market will be a “marathon.” The IEA said Continue Reading
Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Continue Reading
Northern Cyprus wants to resolve a dispute over natural gas drilling with Greek Cypriots to avoid the possibility of its leading to wide instability, the breakaway state’s deputy prime minister Continue Reading
OPEC published on Friday the long-awaited list of oil production quotas for each country in the OPEC+ deal, as it seeks to shore up market confidence that the cartel and Continue Reading
China’s largest crude oil refiner, Sinopec, has offered US$3 billion to Iran’s state oil company, NIOC, to jointly expand the development of a major field in Iran, the Wall Street Continue Reading
With production declining and investment scarce, the Angolan leadership has put in place a number of new policies to reboot its oil industry and propel economic development. However, those changes Continue Reading
A massive fireball that engulfed people scooping up fuel spilling from a pipeline ruptured by thieves in central Mexico killed 21 people and badly burned 71 others in what was Continue Reading
At least 21 people were killed and 71 were injured on Friday when a pipeline ruptured by suspected fuel thieves exploded in central Mexico as dozens of people tried to Continue Reading
Refiners in the United States are stocking up on heavy crude, pushing prices higher, as the Trump administration prepares to slam more punitive measures on Caracas after the inauguration of Continue Reading
The government of Curacao has suspended its selection of a new operator for the Caribbean nation’s 335,000-barrel-per-day Isla refinery until a probe into corruption allegations involving the search has concluded, Continue Reading
Australians have flocked to beaches and watering holes to cool off Australia has just sweltered through at least five of its 10 warmest days on record, authorities estimate. An extreme Continue Reading
Baker Hughes reported a drastic reduction to the number of active oil and gas in the United States this week. The total number of active oil and gas drilling rigs Continue Reading
The company’s fall has been fast and steep. In October, its market value was $25 billion. This week, it was removed from the S&P 500 as its value tumbled below Continue Reading
This marks the third consecutive week of rig declines for the US. The United States dropped a whopping 21 oil rigs this week, marking the third consecutive week of declines Continue Reading
Russian President Vladimir Putin (R), Finance Minister Anton Siluanov (C) and Energy Minister Alexander Novak (L) attend a meeting of the Eurasian Economic Union in St.Petersburg, Russia, to discuss issues Continue Reading
The climate data for 2018 is now mostly in, though the ongoing shutdown of the US government has caused some datasets to be delayed. In this article, Carbon Brief explains Continue Reading
Crude oil futures were higher during Friday mid-morning trade in Asia following OPEC’s monthly report signaling more production cuts, bolstering market sentiment. At 11:20 am Singapore time (0320 GMT), ICE March Continue Reading
Oil prices rose 1 percent on Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing fears about prolonged Continue Reading
U.S. oil production growth combined with a slowing global economy will put oil prices under downward pressure in 2019, challenging OPEC’s resolve to support the market with output cuts, the Continue Reading
