Eleven members of the Organisation of the Petroleum Exporting Countries (OPEC), and 10 other nations are collectively trying to remove about 1.2 million barrels of daily production to stabilize the Continue Reading
Indian refiners processed 21.94 million mt, or an average 5.2 million b/d, of crude oil in January, down 3.6% year on year, latest data from the oil ministry showed, reflecting Continue Reading
U.S. refiner Citgo Petroleum Corp is formally cutting ties with its parent, state-run oil firm Petroleos de Venezuela SA, to meet U.S. sanctions imposed on the OPEC country, two people Continue Reading
Thailand’s natural gas depletion problems are causing the southeast Asian country to make significant changes to its energy mix. The capacity of non-hydro renewables in Thailand may expand to 21 Continue Reading
The U.S. sanctions on Venezuela from late last month cut off more heavy and sour crude oil supply to the global market, leading to the lowest premium of quality light Continue Reading
The United States announced new sanctions against Venezuelan government officials this week as the situation in the country that’s home to the world’s largest oil reserves continues to escalate. The Continue Reading
Venezuelan state PDVSA has restarted its 202,000 b/d Petrocedeno extra heavy crude upgrader at 118,000 b/d, or 58.4% of capacity, despite the country’s deficit of naphtha, a company technical report Continue Reading
Citgo is formally cutting ties with its parent company PDVSA, in order to avoid the impact of US sanctions on the Venezuelan state-owned oil company and keep Citgo’s refineries and Continue Reading
China’s steel mills may have taken a wrong turn by adding millions of tonnes of new high-end capacity just as the country’s car sector, a key steel consumer, undergoes its Continue Reading
China imported 9.8 million mt of natural gas in January, up 6.2% from December, and rose 26.8% year on year, latest General Administration of Customs data showed Wednesday. Separately, China Continue Reading
Exxon Mobil Corp said on Tuesday it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, driven mainly by increases in its holdings in the U.S. Continue Reading
It’s been a volatile decade for the United States biofuels industry, to put it lightly. In 2007 the federal government, as part of an effort to reduce U.S. dependence on Continue Reading
The U.S. shale industry responds only to oil price signals and is like “a market without brain” , BP’s chief executive Bob Dudley said on Tuesday. “The U.S. is the Continue Reading
Russia’s energy ministry plans to meet domestic oil companies on March 1 to discuss a deal between OPEC and other leading global oil producers to reduce production, two sources familiar 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
U.S. President Donald Trump has warned OPEC not to tighten the oil market too much and risk another spike in prices that could harm the global economy – and his Continue Reading
Oil futures tumbled 3 percent on Monday after U.S. President Donald Trump called for OPEC to “relax and take it easy” on boosting crude prices, which he said were climbing Continue Reading
As the oil market continues to tighten significantly, Brent Crude oil prices could reach $70 to $75 a barrel in the near term, with an upside potential of exceeding the Continue Reading
Commodity trading major Vitol expects crude oil prices to rise further as U.S. sanctions on Venezuela and OPEC production cuts squeeze the global supply of heavy crude, Vitol’s chief executive, Continue Reading
Of all the oil projects in Iraq, the Bashiqa exploration block – which straddles the line of control between the autonomous Kurdistan region and the federal government – is perhaps Continue Reading
Saudi Aramco’s chief executive said on Tuesday the oil industry is facing “a crisis of perception” and the views of some observers that the end of oil is near with Continue Reading
Iran’s top diplomat, an architect of the landmark nuclear deal, resigned on Monday, hobbling the relatively moderate government of President Hassan Rouhani and its chances of keeping the pact alive. Continue Reading
In this final installment of a series (See also Article 1 and Article 2 ) examining Saudi Arabia’s oil reserves, I want to examine several metrics to see how they Continue Reading
One week after the Kurdistan region stopped all crude and fuel traffic to Iran, the order has been revised and exports have resumed. Tanker trucks have resumed exports to Iran, Continue Reading
South Korea resumed imports of Iranian crude in January after a four-month hiatus, but the shipments were the lowest amid US sanctions on Tehran, Korea National Oil Corp. data released Continue Reading
Libya’s state-run National Oil Corp said on Monday its chairman Mustafa Sanalla had arrived in United Arab Emirates to meet with a number of Libyan and international parties to discuss Continue Reading
At least 19 people have been killed in southern Libya , according to a member of parliament, as forces loyal to strongman Khalifa Haftar fought for control of oilfields in Continue Reading
Militants have attacked Anadarko’s LNG project in Mozambique in what is the first attack on the oil and gas industry in the African country, Bloomberg reports , citing Portuguese news Continue Reading
Hundreds of people were left stranded late Monday after a sudden shortage of fuel with public transport operators hiking fares. Reports of people walking on foot to areas like Glen Continue Reading
With Nigeria relying heavily on oil as its main source of revenue, the recent move by Organization of the Petroleum Exporting Countries (OPEC) to cut down daily oil production of Continue Reading
The US is set to impose “even stronger sanctions” on Venezuela President Nicolas Maduro’s financial networks, likely further hindering crude oil production and exports as US sanctions on state-owned oil Continue Reading
PDVSA is offering 5.8 million barrels of crude oil and diluted spot crude because of US sanctions, according to sources and PDVSA tenders. Receive daily email alerts, subscriber notes & Continue Reading
The Trump administration imposed sanctions on allies of Venezuelan President Nicolás Maduro and urged regional governments to isolate his regime after a weekend mission to deliver humanitarian aid sparked deadly Continue Reading
Vice President Pence and Venezuelan opposition leader Juan Guaidó greet each other at the Lima Group meeting in Bogota, Colombia. (Luisa Gonzalez/Reuters) February 25 at 8:24 PM After a weekend Continue Reading
Jan crude imports from Iran fall 50% on year to 379,000 b/d US crude imports zero in Jan; Russia remains top supplier Singapore — China’s crude imports from Venezuela surged Continue Reading
China’s leader, Xi Jinping, abruptly summoned hundreds of officials to Beijing recently, forcing some to reschedule long-planned local assemblies. The meeting seemed orchestrated to convey anxious urgency. The Communist Party, Continue Reading
China exported 51,000 mt of gasoline to Nigeria in January, the first such export to the African country, latest data from General Administration showed Tuesday. Receive daily email alerts, subscriber Continue Reading
Evidence for man-made global warming has reached a “gold standard” level of certainty, adding pressure for cuts in greenhouse gases to limit rising temperatures, scientists said on Monday. “Humanity cannot Continue Reading
As the U.S. battles with its OPEC+ rivals over the direction of global oil prices (Trump wants to keep oil prices subdued, while Saudi Arabia and Russia, reeling from years Continue Reading
The electrification of most industrialized societies has taken off in a big way. In the EU and China government support such as regulations and subsidies are pushing automakers towards alternative Continue Reading
The United States is set to significantly increase its capacity to produce alternative transportation fuel over the next two years. New plants designed to produce methanol out of natural gas Continue Reading
Exxon is trying to block an investor initiative seeking to force the supermajor to commit to a reduction in harmful emissions, two of these investors told Reuters. The company, the Continue Reading
The EIA has just published their data on World and Non-OPEC Oil Production . All data is through November 2018 and is in thousand barrels per day. All data is Continue Reading
A majority of large publicly held US shale operators are between a proverbial rock and a hard place. How to service debt and pay out dividends? That is a question Continue Reading
Los Angeles Mayor Eric Garcetti recently announced the city is scrapping plans for a multi-billion-dollar update to three natural gas power plants, instead choosing to invest in renewable energy and Continue Reading
To Wall Street, the shale industry has lost a lot of its allure. A decade’s worth of promises have failed to materialize, and Big Finance is cutting some of its Continue Reading
More developments are underway that show just how far global liquefied natural gas (LNG) markets have progressed in the last five years. Until recently, the super-cooled fuel was mostly bought Continue Reading
Marathon Oil said on Monday that it would be exiting the UK North Sea as it continues to focus on high-return U.S. shale oil operations. Houston-based Marathon Oil has signed Continue Reading
The market responded calmly to news Monday that key members of Russian gas giant Gazprom’s management are leaving the company. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
The city of Munich in southern Germany plans have all its electricity produced from 100 percent renewable sources by 2025, but that plan has led to opposition much farther north—in Continue Reading
