India will look into commercial considerations and related factors to determine the value of oil imports from any country, an Indian official said on Thursday, after a top U.S. official Continue Reading
Chinese and U.S. trade negotiators concluded weeklong talks Friday, making some progress toward a broad agreement aimed at defusing the countries’ trade tensions, according to people with knowledge of the Continue Reading
US and Chinese negotiators concluded the sixth round of cabinet-level negotiations in Beijing on Friday with no indication of substantial progress on core issues that President Donald Trump has said Continue Reading
Global demand for renewable power will soar at an unprecedented pace over the coming decades, BP said in a benchmark report on Thursday, while China’s energy growth is seen sharply Continue Reading
The utility’s board voted Thursday to close its Paradise 3 coal plant in western Kentucky by the end of 2020 and to close its Bull Run plant in eastern Tennessee Continue Reading
The European Commission, the entity responsible for negotiating trade deals on behalf of the European Union, announced last week that they will now allow soybeans grown in the United States Continue Reading
In the previous article, I discussed the global nature of the oil markets. But the shale oil boom in the U.S. temporarily increased the localized impact on the West Texas Continue Reading
The Bureau of Land Management has scheduled a region-wide oil and gas lease sale for the Gulf of Mexico, in which it will offer a total 14,696 blocks spanning 78 Continue Reading
US coal production totaled nearly 13.1 million st in the week ended February 8, up slightly by 0.1% from the prior week, Energy Information Administration data showed Thursday. Receive daily Continue Reading
Permian IRRs up 8 percentage points, Bakken rises to 31% WTI rolling 12-month forward curve tops $56/b Gas IRRs see narrow gain amid stable forward prices Denver — Half-cycle internal Continue Reading
With US shale activity in 2019 beset by uncertainty, Rystad Energy identifies three trends for US light tight oil production that will have a profound impact on the evolution of Continue Reading
Drilling curbs by oil producers in the largest U.S. shale field will continue until transport bottlenecks ease and investors stop punishing companies for increasing capital spending, executives at an energy Continue Reading
Fracking and the booming short-cycle shale production in the Permian have revolutionized not only U.S. crude oil production. The prolific shale basin in West Texas and New Mexico has also Continue Reading
U.S. retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, suggesting a sharp slowdown in economic activity at the end Continue Reading
Global oil demand will prove resilient over the next two decades even if ambitious targets set in the Paris climate change accord are met and the adoption of renewable energy Continue Reading
The OPEC/non-OPEC production cut agreement has significantly benefited Russia’s budget and companies, as it put a floor under oil prices, Russian Energy Minister Alexander Novak said on Thursday. Oil prices Continue Reading
Renewable energy will be the fastest-growing source of energy in the world through 2040, penetrating the energy system “more quickly than any fuel in history” to become the largest source Continue Reading
Stricter global climate policies could influence Norway’s oil and gas industry and lead to a phase out of oil and gas sooner than previously expected, Oystein Olsen, the Governor of Continue Reading
Mercedes-Benz Trucks has handed over a fully electric eActros truck to Murg Valley (Southern Germany)-based logistics company Logistik Schmitt. As part of the eWayBW project, commercial transport will be electric Continue Reading
The war on single-use plastics could cut demand for oil faster than previously expected over the next two decades, BP has warned. The oil major predicted a peak in global Continue Reading
Oil prices rose by around 1 percent on Thursday, with Brent crude futures hitting a 2019-high, buoyed by hopes that the Sino-U.S. tariff dispute could end soon and as China’s Continue Reading
Oil prices rose almost 2 percent on Wednesday after top exporter Saudi Arabia said it would cut crude exports and deliver an even deeper cut to its production, but swelling Continue Reading
Quality matters, not quantity. That was the message from the International Energy Agency (IEA) in its latest Oil Market Report. The world has plenty of oil, but perhaps not the Continue Reading
The global oil market will struggle this year to absorb fast-growing crude supply from outside OPEC, even with the group’s production cuts and U.S. sanctions on Venezuela and Iran, the Continue Reading
In light of an OPEC quota agreement, Iraq has made steep cuts at state-run fields, but those reductions are being offset by long-planned increases at IOC-operated projects. Iraqi Oil Minister Continue Reading
Turkish exploration ships will soon start drilling for oil and gas offshore the northern part of Cyprus, the energy minister of the Turkish Cypriots told Turkish Anadolu Agency on Wednesday, Continue Reading
Saudi Aramco is now planning to explore oil and gas resources outside of the Saudi Arabian kingdom. This is according to a recent interview given by the oil minister, Khalid Continue Reading
Many South African politicians, economists and specialists in the energy sector are celebrating the news that a promising show of natural gas has been discovered in deep water south of Mossel Bay. Continue Reading
Nigeria’s state-owned refinery in Kaduna, a rusted hulk set on about three square kilometres on the parched outskirts of the northern city, has the capacity to process 110,000 barrels of Continue Reading
Venezuela’s opposition-controlled congress named new temporary boards of directors to state-oil firm PDVSA on Wednesday, in an effort to wrest the OPEC nation’s oil revenue from increasingly isolated socialist President Continue Reading
Venezuelan oil company PDVSA is looking to double exports to India as U.S. sanctions hobble deliveries to the United States and Europe. The United States and most Western countries have Continue Reading
U.S. National Security Advisor John Bolton has warned countries and companies against buying crude oil from Venezuela, after the Latin American country’s Oil Minister Manuel Quevedo said during a surprise Continue Reading
Just over two weeks old, US sanctions on PDVSA, Venezuela’s state-owned oil company, continue to alter global crude and diluent flows and are accelerating the already historic collapse of the Continue Reading
Venezuelan oil production is expected to fall to 500,000 b/d by the end of the year, largely from the impact of US sanctions on PDVSA, the country’s state-owned oil company, Continue Reading
Democratic lawmakers on Wednesday said Congress would oppose U.S. military intervention in Venezuela and challenged the credibility of President Donald Trump’s special envoy, Elliott Abrams, over his past embrace of Continue Reading
Venezuela’s oil production could feasibly fall to just 500,000 barrels per day by year’s end, according to the US State Department’s Special Envoy to Venezuela in a Wednesday hearing on Continue Reading
China’s coal imports soared in January, more than tripling from the prior month to 33.5 million tonnes, but there are compelling reasons to treat this outcome with caution, including weakness Continue Reading
China’s crude oil imports in January 2019 grew 5.1% year on year to 10.07 million b/d, preliminary data from the General Administration of Customs showed Thursday. This was the third Continue Reading
China’s natural gas imports, comprising LNG and pipeline gas, rose 26.8% year on year to 9.81 million mt — the equivalent of 13.53 Bcm — in January, preliminary data from Continue Reading
No date or place has been set for the next summit between US President Donald Trump and Chinese President Xi Jinping. Photo: AFP North Korean leader Kim Jon-un’s New Year Continue Reading
U.S. crude oil inventories rose last week to the highest since November 2017 as refiners cut runs to the lowest since October 2017, the Energy Information Administration said on Wednesday. Continue Reading
Summary of Weekly Petroleum Data for the week ending February 8, 2019 U.S. crude oil refinery inputs averaged 15.8 million barrels per day during the week ending February 8, 2019, Continue Reading
As Canada continues to struggle with a dire deficit in pipeline capacity, the government is looking for new solutions. With oil prices deep in decline, the Alberta provincial government has Continue Reading
The U.S. solar power industry workforce expanded by 150,000 jobs in the period 2010 to 2018, the latest census from the Solar Foundation found. Last year alone, however, the sector Continue Reading
U.S. Gulf Coast crude prices climbed sharply this week after fog-related port closures slowed the nation’s crude imports and as supplies rose at the U.S. storage hub in Cushing, Oklahoma, Continue Reading
Last week the Democratic party, backed by the new energy of a particularly young and leftist freshman class in the House of Representatives, finally unveiled the first official version of Continue Reading
Chevron holds the most valuable U.S. shale portfolio in terms of total net present value, according to Rystad Energy. Chevron holds the most valuable U.S. shale portfolio in terms of Continue Reading
The European Union has convened a wide-ranging industrial group to work on promoting the euro and fighting the monopoly of the U.S. dollar in oil and commodities trading, reflecting broader Continue Reading
The European Union reached a provisional deal on Wednesday on new rules governing import gas pipelines, casting doubt over the operating structure of Russia’s planned Nord Stream 2. The Russian Continue Reading
The US is still deciding which sanctions to impose on Russia as part of mandatory penalties triggered in 2018 that could include blocking Russian petroleum imports into the US and Continue Reading
