The movement of crude oil futures was mixed during mid-morning trade in Asia Thursday, amid a bullish report on last week’s US crude stock level and a bearish report on Continue Reading
Oil prices fell on Thursday, as U.S.-China trade tensions persisted, the Chinese economy showed signs of slowing and record U.S. production undermined OPEC-led output curbs. Brent crude was down 61 Continue Reading
Oil prices are off to their best-ever start to a year as fears of a supply glut cool, part of a 2019 recovery in risky investments from stocks to commodities. Continue Reading
Oil futures gained about 2 percent on Wednesday after U.S. crude inventories unexpectedly plummeted and as Saudi Arabia brushed aside comments from U.S. President Donald Trump seeking to keep oil Continue Reading
The share of nuclear power generation in the global energy mix is set to decline through 2040 if there is no policy support to promote investment, according to the International Continue Reading
Two days after saying he intended to step down, Iran’s foreign minister, Mohammad Javad Zarif, returned to his post after President Hassan Rouhani rejected the resignation. There were smiles all Continue Reading
The Abu Dhabi National Oil Company (ADNOC) and South Korea’s SK Engineering and Construction Co. Ltd (SKEC) signed an agreement on Wednesday to build the world’s single largest underground oil Continue Reading
Ever since oil was first discovered in the Middle East in the 1930s, the monarchies in the Persian Gulf have generously subsidized energy and utilities costs for the population. While Continue Reading
Saudi Arabia’s Energy Minister Khalid al-Falih said on Wednesday that he was leaning toward an extension of the OPEC+ production cuts after June, although he noted that the producer group Continue Reading
Saudi Arabia’s oil giant Saudi Aramco targets to stop producing fuel oil at its refineries by 2024, as stricter environmental regulations for the shipping industry will significantly cut the largest Continue Reading
Issuing yet another delay in the seven-year-old proceedings, Iraq’s chief justice appeared to question whether there is still an active constitutional dispute. Iraq’s Federal Supreme Court at the Aug. 14, Continue Reading
Asia’s crude oil imports from Iran dipped in January to the lowest in two months after top buyers China and India slowed down purchases and as Japan recorded zero imports Continue Reading
“I am not losing any sleep over ‘peak oil demand’ or ‘stranded resources’,” Amin Nasser, the chief executive of Saudi Arabia’s oil giant Saudi Aramco, said in a speech in Continue Reading
Last year, President Donald Trump successfully convinced Saudi Arabia to help keep a lid on global oil prices by ramping up production. The Saudis acquiescence to Trump’s tweets at the Continue Reading
Workers at Libya’s El Sharara oilfield are ready to resume production with an initial output of 80,000 barrels a day but are still waiting for approval from state oil firm Continue Reading
Nigeria’s President Muhammadu Buhari comfortably won a second term at the helm of Africa’s largest economy, election authorities said on Wednesday, but his main rival planned a fraud challenge after Continue Reading
Nigerian President Muhammadu Buhari has secured a second term helming Africa’s largest economy and top oil producer, but the former general now faces a dizzying array of challenges including a Continue Reading
Supporters celebrate at Mr Buhari’s campaign headquarters in Abuja The runner-up in Nigeria’s presidential election has rejected the result as a “throwback to the jackboot era of military dictatorship”. Atiku Continue Reading
Muhammadu Buhari, Nigeria’s president, has won a second term in office with a lead of over three million over opposition candidate Atiku Abubakar, who made some bold promises on the Continue Reading
The fear that militancy in the oil-rich Niger Delta could revive after the re-election of Nigeria’s President Muhammadu Buhari, can be addressed if the Federal Government sustains its engagement with Continue Reading
Royal Dutch Shell yesterday disclosed that the federal government’s recent claims that it owed Nigeria billions of dollars of unpaid oil and gas-related taxes could delay the development of its Continue Reading
One of the seven members on the governing panel of Mexico’s National Hydrocarbons Commission (CNH) has stepped down citing personal reasons halfway through his term, Reuters reports , adding this Continue Reading
In November 2017, Harry Sargeant III, a wealthy American businessman, flew to Venezuela to see about buying some oil. Sargeant, the former finance chairman of the Florida Republican Party, was Continue Reading
Russian companies in Venezuela are not experiencing any problems resulting from the escalation in the political situation in the country and have not incurred any losses on the oil they Continue Reading
Venezuela, under U.S. embargo, has shifted some of its crude exports from American refiners to India and Europe, according to the country’s oil minister and ship-tracking firms. But it will Continue Reading
Mexico’s central bank on Wednesday cut its economic growth forecasts for this year and next, flagging the risk of rating downgrades to the country and state-run oil firm Pemex, and Continue Reading
Mexican state oil company Pemex said on Wednesday its losses narrowed in 2018, helped by currency exchange gains as crude production and refining rates continued to decline. Pemex, Mexico’s largest Continue Reading
At least 8 tons of gold were removed from the Venezuelan central bank’s vaults last week, an opposition legislator and three government sources told Reuters, in the latest sign of Continue Reading
The equivalent of 1,145 truckloads of oil is stolen in Mexico per day from PEMEX – the state-owned petroleum company. That’s 146 billion Mexican Pesos (USD$7.4 billion) in lost revenue Continue Reading
Not even China’s voracious appetite for liquefied natural gas may be enough to absorb the additional supplies hitting the market this year, with the price of the super-chilled fuel potentially Continue Reading
China’s coal consumption rose for a second year in a row in 2018, but coal’s share of total energy consumption fell below 60 percent for the first time as cleaner Continue Reading
When a few years ago media began calling data the new oil, it was because some pretty direct parallels could be drawn between Big Oil and Big Tech. These parallels Continue Reading
China is set to announce this year the creation of a state-held oil and gas pipeline company, combining the midstream assets of the national firms in a bid to allow Continue Reading
China’s use of thermal coal in its energy mix has fallen to below 60% in 2018, as the world’s biggest coal consumer aims to raise its use of cleaner fuels, Continue Reading
U.S. crude oil stocks fell unexpectedly last week as net imports fell to record lows, despite production growing to all-time highs and abundant inventories at the Cushing, Oklahoma hub, the Continue Reading
U.S. crude oil production rose 100,000 barrels per day last week to a record 12.1 million bpd, hitting a peak for the second straight week, according to data released by Continue Reading
The U.S. suffered though multiple bouts of severe cold in the last few weeks, but the weather has done very little to rescue low natural gas prices. Henry Hub gas Continue Reading
Alberta oil producers have found a way around production limits imposed on them by the provincial government: buy the right to pump barrels from other companies that don’t need them. Continue Reading
Drilling activity has plateaued in much of the U.S., with the rig count zig-zagging well below the peak from last November. The rig count often rises and falls in response Continue Reading
Can technological progress save us from ecological destruction? If some new clean form of energy was discovered tomorrow, could it be deployed quickly enough to decarbonize the world by 2050? Continue Reading
Oil rose for a second day on Wednesday, buoyed by an unexpected decline in U.S. crude inventories and after Saudi Arabia appeared undaunted by pressure from U.S. President Donald Trump Continue Reading
Crude oil futures were lower during mid-morning trade in Asia Tuesday, extending the downtrend from the previous trading session, triggered by the US President’s latest tweets on “oil prices getting Continue Reading
The American Petro l eum Institute (API) reported a surprise draw in crude oil inventory of 4.2 million barrels for the week ending February 22, coming in under analyst expectations Continue Reading
Oil prices opened the week lower after U.S. President Donald Trump asked OPEC to ‘’take it easy’’ on the production cuts, but recovered somewhat on Tuesday morning Chart of the Continue Reading
Oil futures inched up on Tuesday after news that OPEC would continue production cuts despite comments from U.S. President Donald Trump, who criticized the producer group for rising crude prices Continue Reading
Saudi Arabia aims to export as much as 3 billion cubic feet of gas per day by 2030, the chief executive of the Kingdom’s oil giant Saudi Aramco said on Continue Reading
Japanese refiners are in a rush to buy as much Iranian crude as they can before the sanction waiver window granted by the U.S. Treasury Department closes in May, S&P Continue Reading
ExxonMobil is expected to soon announce that its drilling campaign offshore the southern coast of the divided island of Cyprus has resulted in a major gas discovery, potentially reigniting tension Continue Reading
Saudi Energy Minister Khalid al-Falih said on Wednesday that OPEC and its partners were “taking it easy” in response to a tweet from U.S. President Donald Trump requesting oil producers Continue Reading
Nigeria seeking nearly US$20 billion from international oil majors in back taxes could delay the approval of a major offshore oil project, Shell’s Upstream Director Andy Brown told Reuters on Continue Reading
