Crude Oil Caps Off Strong Week | Rigzone
West Texas Intermediate (WTI) crude oil for May delivery gained 84 cents Friday, settling at $60.14 per barrel. The WTI, which traded within a range from $59.41 to $60.73, is Continue Reading
Oil Prices Climb As Geopolitical Issues Mount
Oil prices closed the week on a positive note, as professional buyers are more convinced that oil is trending higher in the short term. Crude oil stocks (Click to enlarge) Continue Reading
Oil Rises Above $60 for Largest Quarterly Gain Since 2009
U.S. oil prices rose to a four-month high of $60 a barrel Friday, and posted their biggest quarterly gain since 2009 as global supplies tighten and risk appetite grows amid Continue Reading
Oil Rig Count Falls As WTI Hits $60
The the number of active oil and gas rigs fell for the second week in a row in the United States this week according to Baker Hughes, while actual US Continue Reading
Oil posts biggest quarterly rise since 2009 on OPEC cuts, sanctions | Reuters
Oil prices rose about 1 percent on Friday, posting their biggest quarterly rise in a decade, as U.S. sanctions against Iran and Venezuela, as well as OPEC-led supply cuts, overshadowed Continue Reading
Trump and Saudi Arabia at odds over oil prices: Kemp
U.S. President Donald Trump and the Saudi government have closely aligned views on most issues but they disagree significantly on the desirable level for oil prices, which could become a Continue Reading
Saudi’s SABIC sticking with growth plans, will discuss synergies with Aramco
Saudi Basic Industries Corp’s (SABIC) investment plans will not be affected by oil giant Aramco’s purchase of a 70 percent stake in the company, its chief executive said on Friday, Continue Reading
Algeria: Hundreds of thousands march for President Bouteflika’s removal
Protesters are demanding the resignation of President Bouteflika Hundreds of thousands of people have taken to the streets in Algeria to demand the resignation of President Abdelaziz Bouteflika. Estimates say Continue Reading
NEXT OIL DOMINO TO FALL? Mexico Becomes A Net Oil Importer
While Mexico suffered the bloodiest year of violent deaths in 2018, even bigger trouble may be ahead for the embattled country. For the first time in more than 50 years, Continue Reading
Exclusive: Trump eyeing stepped-up Venezuela sanctions for foreign companies – Bolton
U.S. President Donald Trump is considering imposing sanctions on companies from other countries that do business with Venezuela to cut off revenues to President Nicolas Maduro, Trump’s national security adviser Continue Reading
White House warns Russia over troops in Venezuela, threatens sanctions
The White House on Friday warned Russia and other countries backing President Nicolas Maduro against sending troops and military equipment to Venezuela, saying the United States would view such actions Continue Reading
Washington Presses Traders To Stop Buying Venezuelan Oil
The U.S. administration is trying to pressure foreign commodity traders and refiners to suspend their trades with Venezuelan oil in the latest push against the Maduro government. The information comes Continue Reading
Venezuela returns to ‘Middle Ages’ during power outages
Walking for hours, making oil lamps, bearing water. For Venezuelans today, suffering under a new nationwide blackout that has lasted days, it’s like being thrown back to life centuries ago. Continue Reading
Red Cross Announces Venezuelan Aid Effort
The Red Cross said it had received Venezuelan government approval to begin a major medical aid program in a bid to ease Latin America’s worst humanitarian crisis ever. President Nicolás Continue Reading
As Maduro confronts a crisis, Russia’s footprint in Venezuela grows
After two Russian military planes landed near Caracas this month, the Trump administration issued stark warnings over President Nicolás Maduro’s ties to the Kremlin. But a vessel that arrived in Continue Reading
Venezuela’s Restarts Its Largest Oil Export Terminal
Venezuela’s largest oil export terminal is has resumed operations and is now operating at 100 percent capacity after a blackout took it offline earlier in the week, according to Reuters Continue Reading
Venezuela’s Jose oil export terminal restarts after blackout: sources, data
Venezuela’s main oil export terminal of Jose has restarted operations after a blackout earlier this week paralyzed crude shipments, the lifeblood of the OPEC nation’s economy, according to three sources Continue Reading
Trump grants new permission for TransCanada Keystone pipeline
President Donald Trump signed a permit on Friday granting permission for TransCanada Corp to build the long-delayed Keystone pipeline at the U.S.-Canada border for the importation of oil from Canada. Continue Reading
Colorado Moves to Regulate Drilling After Years of Conflict
Erin Martinez never got too involved in politics until her husband and brother were killed in an explosion after natural gas leaked from an abandoned line near her property. Two Continue Reading
Trump Moves Again to Clear Path for Keystone XL Pipeline
President Trump removed a roadblock to construction of TransCanada Corp.’s Keystone XL oil pipeline on Friday, issuing a permit that effectively allows the much-delayed project to move forward without further Continue Reading
Goldman Sachs: U.S. Drillers Aren’t Hedging Enough
Oil producers in the United States are not hedging enough future production while oil prices trend higher, Goldman Sachs has warned . According to the investment bank, drillers were now Continue Reading
US Coast Guard works to begin allowing ships to leave closed Houston Ship Channel areas
The US Coast Guard is working to set up a “locking system” in Houston Ship Channel areas where water was contaminated with significant amounts of benzene after a fire at Continue Reading
Strikers Vow to ‘Reverse’ Output at Europe’s Largest Refinery
Shell’s 400,000 bpd Pernis oil refinery in the Netherlands will see a reduction in output beginning on April 8, organized by striking workers seeking higher wages. Last week , the Continue Reading
Crude oil futures rise despite Trump’s tweet for OPEC to boost supply
Crude oil futures were higher during mid-morning trade in Asia Friday, shrugging aside US President Donald Trump’s latest tweet for OPEC to boost oil supply, as market participants await fresh Continue Reading
Oil near flat, shrugs off Trump calls for OPEC to boost output
Oil futures were near flat on Thursday after recovering from the day’s worst losses that came when U.S. President Donald Trump called for OPEC to boost crude output in an Continue Reading
Oil set for biggest quarterly rise since 2009 amid OPEC cuts, U.S. sanctions
Oil prices rose on Friday amid the ongoing OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, putting crude markets on track for their biggest quarterly rise since 2009. Continue Reading
Oil Prices Fall As Trump Targets OPEC On Twitter
President Donald Trump called OPEC out on Twitter once again on Thursday, pressing the oil “monopoly” to stop driving prices higher. The US President’s latest tweet, while calling on the Continue Reading
Aramco Plans $10 Billion Bond, Casting Light on Its Finances for First Time
Saudi Aramco plans to issue a $10 billion bond as early as next week to help fund its acquisition of a majority stake in Saudi Arabia’s petrochemicals firm, people familiar Continue Reading
As U.S. Tightens Iran Sanctions, Militant Groups and Political Allies Feel the Pain
Syrian militiamen paid by Iran have seen their salaries slashed. Projects Iran promised to help Syria’s ailing economy have stalled. Even employees of Hezbollah, the Lebanese group that has long Continue Reading
Can Energy Bring Peace To The Levant Basin?
Research on the Levant Basin dates back to 2010 when the Leviathan block was first discovered by Ratio Oil. Following this, companies like US-owned Noble Energy and French giant Total Continue Reading
Washington’s Secret Nuclear Deal With Saudi Arabia
Washington has secretly given the go-ahead to several companies to sell nuclear power technology to Saudi Arabia, Reuters reports , citing a document it had obtained. The document featured an Continue Reading
Southeast Asia should be aware of Iran’s tactics to evade oil sanctions: U.S.
The United States is keen to see that Malaysia, Singapore and others are fully aware of illicit Iranian oil shipments and the tactics Iran uses to evade sanctions, a top Continue Reading
Japanese refiners halt Iran oil imports as waiver expiry looms
Japanese refineries have put a halt on imports of Iranian oil after buying 15.3 million barrels between January and March ahead of the expiry of a temporary waiver on U.S. Continue Reading
U.S. energy secretary unsure if Saudi nuclear approvals came after Khashoggi killing
U.S. Energy Secretary Rick Perry told lawmakers on Thursday he did not know whether any of the approvals he authorized for U.S. companies to sell nuclear power technology to Saudi Continue Reading
New Middle East Alliance Shakes World Powers
A new bloc is emerging in the greater Middle East with the declared objectives of dominating the entire Arab world, confronting and containing the US and its allies; and controlling Continue Reading
The One Thing That Could Derail The U.S. Oil Boom
Two South Korean refiners have canceled the delivery of U.S crude oil cargoes that were due to arrive in January and February this year, Bloomberg reported earlier this week. It Continue Reading
Russian minister to discuss ways to boost Venezuela’s oil exports
Russian Energy Minister Alexander Novak said on Friday he planned to discuss with his Venezuelan counterpart ways to increase oil exports from Venezuela. He did not give any further details. Continue Reading
Exclusive: U.S. orders foreign firms to further cut down on oil trades with Venezuela
The United States has instructed oil trading houses and refiners around the world to further cut dealings with Venezuela or face sanctions themselves, even if the trades are not prohibited Continue Reading
China’s Power Play To Get Its Hands On Foreign Oil
In accordance with the “new guidelines” for its economic development, China is trying to get back to the well-known “Silk Road,” a $900 billion scheme of a “new era of Continue Reading
Analysis: China’s appetite for Iraq’s Basrah crude grows amid Venezuela sanctions
Chinese refiners yet to fully secure Venezuelan crude supply for Q2 Basrah spot differentials rally amid tight heavy crude supply Independent refiners also eye heavy sour Canadian grades Singapore — Continue Reading
US Coast Guard rescinds Houston Ship Channel contamination zone draft limitation
The US Coast Guard has rescinded a 34-foot draft limitation on shipping in a Houston Ship Channel contamination zone between Tucker’s Bayou and Light 116 and resumed two-way traffic for Continue Reading
US offshore oil, gas plan will be winnowed down: Interior nominee
The Trump administration’s plan to expand offshore oil and gas leasing to nearly all federal waters will be “winnowed down,” potentially in response to opposition from governors of coastal states, Continue Reading
US oil, gas rig count continues downward slip, falls 6 on week to 1,077
Permian saw 3-rig drop after a few weeks of gains E&Ps will likely stick to capex despite higher oil prices Houston — Receive daily email alerts, subscriber notes & personalize Continue Reading
EPA Fast-Tracked Ethanol Plan After Trump Pledge
The agency has been considering waiving pollution requirements for E15 gasoline for years. (Bloomberg) — After President Donald Trump promised Iowa voters he would unleash high-ethanol gasoline, his administration fast-tracked Continue Reading
Lego owner buys majority stake in U.S. solar developer Enerparc Inc
Kirkbi, the family holding company behind toy maker Lego, said on Friday it had agreed to buy a majority stake in Enerparc Inc., a U.S. affiliate of German solar developer, Continue Reading
Carlyle takes step forward on $1 billion U.S. oil-export project
A proposed $1 billion deepwater oil-export project moved ahead on Thursday with U.S. private equity firm Carlyle Group agreeing to a 50-year lease on land near Corpus Christi, Texas, for Continue Reading
Citgo raises $1.2 billion loan to run operations, refinance debt
Citgo Petroleum, the U.S.-based unit of Venezuelan state-run oil firm PDVSA, said on Thursday it raised $1.2 billion through a five-year term loan to cover operating expenses and to refinance Continue Reading
EPA grants additional 2017 small refinery waiver from nation’s biofuel laws
(Reuters) – The U.S. Environmental Protection Agency granted an additional 2017 small refinery waiver from the nation’s biofuel laws, bringing the tally to 35, the agency disclosed on Thursday. The Continue Reading
Supermajors Set Out To Save Alaska LNG
Technical teams from the Alaska Gasline Development Corp. (AGDC) and supermajors BP and ExxonMobil will meet next week in Houston to begin a review of the proposed $43 billion Alaska Continue Reading
Fast-Melting Greenland Glacier Starts Growing Again In Massive U-Turn
A large and fast-melting glacier in Greenland is growing again, according to a new NASA study. The Jakobshavn (YA-cob-shawv-en) glacier on Greenland’s west coast had reportedly been retreating by around Continue Reading