Venezuela courts India to strengthen oil ties amid US sanctions
Venezuela’s oil minister is in New Delhi this week hoping to convince India’s key refiners to buy more of its crude and forge closer ties as the South American nation Continue Reading
Venezuela pressures foreign partners on oil venture commitments: sources
Foreign partners of Venezuela’s PDVSA are facing pressure from the state-run oil firm to publicly declare whether they will continue as minority stakeholders in Orinoco Belt projects following U.S. sanctions, Continue Reading
Traders expect Cushing builds as refinery issues add to swelling supply
U.S. crude traders are bracing for increasing supplies at Cushing, Oklahoma, the delivery point for benchmark crude futures, as unexpected refinery issues add to inventories that are already at the Continue Reading
Sentinel plans U.S. oil export terminal off Freeport, Texas
Sentinel Midstream on Monday became the latest contender in the race to build a crude export terminal off the U.S. Gulf Coast, announcing plans to develop a facility off Freeport, Continue Reading
Which Oil Giant Generates The Most Cash?
As the oil supermajors surpassed estimates with strong Q4 and 2018 earnings, Shell beat Exxon—for a second year running—to affirm itself as Big Oil’s biggest cash flow generator. Shell, which Continue Reading
Green New Deal Critics See Red
The Green New Deal, (GND) a catch-all composite of environmental and social welfare programs, led by Member of Congress Alexandra Ocasio-Cortes (D-NY) and Senator Ed Markey (D-MA) calls for “a Continue Reading
Two new 100-MW utility-solar units expected in the Permian Basin
Facilities will add 13.4% to ERCOT solar capacity Receive daily email alerts, subscriber notes & personalize your experience. Register Now Most of the solar capacity is in or near Permian Continue Reading
US Oil and Gas Employment Up 5.4% in 2018
Texas accounted for four out of 10 US oil and gas jobs last year. The U.S. oil and gas industry employed 880,681 professionals in 2018, up 5.4 percent from the Continue Reading
An Unexpected Bullish Factor For Oil
U.S. shale drilling activity is set to slow this year as companies respond to lower oil prices. However, a lower WTI price is not the only reason for the deceleration. Continue Reading
With Iran squeezed out, U.S. oil takes on new rivals in Europe
When the global oil trading industry gathered for its biggest annual meeting in Asia in September last year, U.S. oil producing companies came well prepared. U.S. giant Exxon Mobil and Continue Reading
Nord Stream 2 Was Always A Done Deal
Europe’s position as an arena for great power rivalry ended after the Cold War. In recent days, however, the continent has, again, become a theatre of conflict. Only this time Continue Reading
Kremlin: no talks are underway to create new Russia-OPEC alliance
The Kremlin said on Tuesday there were no substantial talks currently taking place to establish an alliance between Russia and OPEC. Energy Minister Alexander Novak said in December it was Continue Reading
U.K. Economy Falters as Brexit Looms. Amsterdam Sees Risks, and Opportunity.
If anyone in the Netherlands is happy about Britain jilting the European Union, they keep that sentiment to themselves. The country has been built on trade, with huge volumes of Continue Reading
Rosneft Boss Wants Russia Out Of OPEC Deal
Rosneft’s chief executive Igor Sechin wants Russia to quit its production control deal with OPEC, Reuters reported last week, citing sources that have seen a letter Sechin wrote to President Continue Reading
Crude oil futures fall on US rig count rise, US-China trade tensions
Crude oil futures were lower during mid-morning trade in Asia Monday amid a build reported in the US rig count data last week while ongoing trade tensions between the US Continue Reading
Oil prices steady, OPEC cuts countered by slow progress in trade talks
Oil prices were steady on Monday as support from OPEC-led supply restraint was countered by an uptick in U.S. drilling and concerns about demand due to the slow progress in Continue Reading
Demand Concerns Drive Oil Markets
U.S. West Texas Intermediate oil futures are trading lower for the week, putting the market in a position to post a potentially bearish technical closing price reversal top on the Continue Reading
Washington Eyes Crackdown On OPEC
Legislation targeting OPEC is suddenly gaining steam in the U.S. Congress, raising alarm bells for the cartel. On Thursday, the House Judiciary Committee passed a bill that would allow the Continue Reading
UAE oil minister expects oil market to reach balance in first quarter
The oil market should reach a balance between supply and demand in the first quarter of this year, United Arab Emirates’ Oil Minister Suhail Al Mazrouei told Al-Arabiya television on Continue Reading
Yemen aims to export about 75,000 bpd oil in 2019: minister
The Saudi-backed government in Yemen hopes to scale up its crude production to 110,000 barrels per day (bpd) in 2019, with exports touching about 75,000 bpd, its oil minister told Continue Reading
Indigenous Pemon on Venezuela’s border with Brazil vow to let aid in
Venezuela’s Pemon, an indigenous people living along the border with Brazil, are determined to allow into the embattled country any foreign aid that may arrive, even if that means a Continue Reading
Exclusive: Venezuela shifts oil ventures’ accounts to Russian bank
Venezuela’s state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Russia’s Gazprombank AO, according to sources and Continue Reading
Venezuela open to barter trade with India to boost oil sales
Venezuela is open to barter-like payments from India to boost oil sales to the world’s third-biggest oil consumer, the South American country’s oil minister Manuel Quevedu said on Monday.Venezuela buys Continue Reading
Venezuela oil min says all mechanisms in place to meet India’s oil needs
Venezuela’s Oil Minister and President of Venezuelan state-run oil company PDVSA. Venezuela has all mechanisms and channels in place to keep its oil operations going and will be able to Continue Reading
Russia’s Gazprombank says Venezuela’s PDVSA has not opened new accounts
Russia’s Gazprombank said on Sunday that Venezuela’s state-run oil company PDVSA opened accounts with the bank several years ago and has not opened any accounts recently. Reuters reported on Saturday Continue Reading
Tax Cuts Or Not, Mexico’s Pemex Is Doomed
Last week a hefty package of $3.5 billion worth of tax cuts were granted to the struggling state oil company Petroleos Mexicanos (Pemex) to be spread over the next six Continue Reading
Seismic surveys of U.S. Arctic refuge coastal plain delayed
There will be no seismic exploration this winter on the coastal plain of the Arctic National Wildlife Refuge, the Interior Department said on Friday, after the company seeking permission to Continue Reading
What’s actually in the ‘Green New Deal’ from Democrats?
Rep. Alexandria Ocasio-Cortez (N.Y.) and Sen. Edward J. Markey (Mass.), right, are Democrats sponsoring the Green New Deal. (Jonathan Ernst/Reuters) “I think it is very important for the Democrats to Continue Reading
This Is Just The Beginning Of Europe’s Gas War
In a move that should not surprise energy pundits nor even those that follow geopolitical news in Europe, on Thursday Russian gas giant Gazprom said it’s looking to gain an Continue Reading
Oil little changed, in line for weekly loss on slowdown fears
Oil futures were little changed on Friday, on track for losses on the week in renewed concerns about slowing global demand. Concerns over the ongoing trade dispute between the United Continue Reading
What Is Keeping Oil Prices Subdued?
Oil prices failed to break out on Friday, as traders showed themselves cautious, voicing concerns about global economic growth. Oil prices have been flat for several days, weighed down by Continue Reading
The week in energy: looking for breakthroughs
There is an old joke about an economist and an engineer stranded on a desert island, who find a case full of cans of beans washed up on the beach. Continue Reading
Rival Forces Clash For Control Over Libya’s Largest Oil Field
Rival army forces—one loyal to the UN-backed Libyan government and another to a strongman from the east— are fighting for control over Libya’s largest oil field, Sharara, which has been Continue Reading
Kazakhstan Delays Oil Firm’s IPO Amid Worsening Market Conditions
Kazakhstan has postponed the listing of its state oil and gas firm KazMunayGas (KMG) until after 2019, due to worsening market conditions and Brexit uncertainty that could dampen investor appetite Continue Reading
Latin American oil prices, flows to U.S. jump amid PDVSA restrictions
Latin American crude prices and flows to the United States have climbed this week as U.S. refiners tap lesser-used grades and suppliers to replace Venezuelan oil lost due to U.S. Continue Reading
U.S. Sanctions Are Aimed at Venezuela’s Oil. Its Citizens May Suffer First.
When President Trump slapped surprise oil sanctions on Venezuela aimed at toppling President Nicolás Maduro, exports plunged and banking froze as the effects hit harder and faster than expected. But Continue Reading
Oil Workers Exodus Could Complicate Efforts To Reverse Venezuela’s Collapse
Not only ordinary Venezuelan people have been fleeing poverty and hyperinflation in the Latin American country in recent years. Oil workers are also leaving their poor-paying jobs in the country Continue Reading
US Adds Seven Oil Rigs
The US saw an addition of seven oil rigs this week but saw a decline in gas rigs. After a week of a net loss of 14 rigs , the Continue Reading
Keystone pipeline likely source of Missouri crude spill: TransCanada Corp
An oil leak near St. Louis, Missouri likely originated from TransCanada Corp’s Keystone pipeline, the company said on Friday, with no projected restart timetable for the portion of the line Continue Reading
‘Green New Deal’ Democrats Position Climate Change as Central Issue in 2020
Democratic officials and activists are pushing the party to unify behind a plan to quickly wean the U.S. economy off fossil fuels and cement climate change as a central issue Continue Reading
Oil Rig Count Rises As Oil Prices Stabilize
Baker Hughes reported an increase in the number of active oil and gas rigs in the United States this week. The total number of active oil and gas drilling rigs Continue Reading
US crude, LNG exports at stake in latest round of US-China trade talks next week
Top US energy and agriculture officials will return to China next week for the latest round of trade talks that could signal whether crude and LNG flows will pick up Continue Reading
Trump official slams cartels as U.S. lawmakers push anti-OPEC bill
A senior administration official said on Friday that U.S. national security depends on affordable energy, and slammed cartels when asked if President Donald Trump would support a bill targeting the Continue Reading
Exclusive: Russia’s Sechin raises pressure on Putin to end OPEC deal
Igor Sechin, head of Russian oil giant Rosneft and one of Vladimir Putin’s closest allies, has written to the Russian president saying Moscow’s deal with OPEC to cut oil output Continue Reading
EU nations back rules that may stall Russia’s Nord Stream 2 pipeline
European Union nations backed a plan to regulate Russia’s Nord Stream 2 pipeline on Friday, a move that will likely slow but not rule out its construction. The long-stalled agreement Continue Reading
Venezuelan sanctions could squeeze European fuel oil market
US sanctions imposed on Venezuela’s state-owned PDVSA could further support an already tight high sulfur fuel oil market in Europe, sources said. The European fuel oil market has seen unusual Continue Reading
Crude oil futures fall amid US-China trade concern, poor economic growth outlook
Crude oil futures were weaker during mid-morning trade in Asia Friday amid ongoing trade concerns between the US and China, while a forecast for a slowdown in economic growth in Continue Reading
Trade Deal Uncertainty Weighs On Oil Prices
Despite the crisis in Venezuela, which could shut in a lot more oil supply, global crude prices have been mostly flat for two weeks. Oil traders have weighed prospect of Continue Reading
Oil heads for weekly loss as slowdown worries outweigh supply cuts
Oil markets inched down on Friday and were heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Continue Reading
U.S. Tells Iran’s Oil Customers Not To Expect New Waivers
Iran’s oil customers should not expect new U.S. waivers in May, the U.S. Special Representative for Iran, Brian Hook, said this week, urging buyers to stop importing Iranian oil. “What Continue Reading