The first export cargoes of Libya’s Sharara crude since the lifting of force majeure will be lifted this weekend, according to trading sources and shipping reports. The Aframax vessel Balla Continue Reading
India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a sanctions waiver past early Continue Reading
Mr Mohammed Sidi, Director, Weights and Measures Department, Federal Ministry of Industry, Trade and Investment, has disclosed that oil dealers have been cheating Nigerians of N198,500 per truck sold. Sidi Continue Reading
Nicolas Maduro’s staunchest international ally—Russia—reaffirmed last week its full support to the Socialist leader’s regime and his efforts to prevent what Moscow sees as interference in Venezuela’s domestic affairs. At Continue Reading
Plans by the German operator of a portion of the Venezuelan state oil company’s tanker fleet to return 10 vessels because of unpaid fees caused the maritime unit of the Continue Reading
Vietnam can’t seem to get a break. The country lies just beneath China, its giant neighbor to the north, and shares many of the same socialist ideals that Beijing promulgates. Continue Reading
China’s state energy giant CNPC plans to increase its oil and gas exploration budget five times this year as the country’s dependence on foreign-sourced energy commodities deepens to nearly 70 Continue Reading
China’s economy is around 12 percent smaller than official figures indicate, and its real growth has been overstated by around 2 percentage points annually in recent years, according to new Continue Reading
The U.S. and China are closing in on a trade deal, and the result could be a lot more U.S. LNG heading east. Reports suggest that Trump is eager to Continue Reading
US-based LNG exporter Cheniere Energy is in talks with China’s state-run Sinopec about a long-term LNG supply agreement, with the parties awaiting further instructions from government authorities, a source with Continue Reading
Exxon Mobil Corp plans to boost capital spending for several years, CEO Darren Woods said on Wednesday, and the largest U.S. oil company’s shares fell after he laid out a Continue Reading
Alaska Gasline Development Corp (AGDC) said on Wednesday it received the last major federal permit needed before it can decide on its proposed $10 billion Alaska Stand Alone Pipeline (ASAP) Continue Reading
Summary of Weekly Petroleum Data for the week ending March 1, 2019 U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending March 1, 2019, Continue Reading
ExxonMobil expects its earnings to grow by more than US$4 billion from 2019 to 2020, the U.S. supermajor said in its Investor Day presentation on Wednesday. In 2018, Exxon booked Continue Reading
Exxon Mobil Corp. took four hours on Wednesday morning to tell investors: “Hold on a bit, we got this.” But investors aren’t in a patient mood with high-spending oil and Continue Reading
The Trump administration’s revised five-year program to expand offshore drilling in most federal waters will be released “in the coming weeks,” an Interior Department official said on Wednesday, after months Continue Reading
Colorado is overhauling the laws governing how the oil and gas industry operates in the state. The legislation seeks to put more protections on public health, safety and the environment Continue Reading
The Permian’s oil pipeline network is expected to grow 60-70 percent in the next five years. The Permian Basin is the energy-producing juggernaut behind the U.S. shale revolution. This vast Continue Reading
The UK has announced a new target to source a third of its electricity from offshore wind by 2030 , but faces criticism for not setting more ambitious goals to Continue Reading
One of the world’s largest carmakers, Germany’s Volkswagen AG, is betting big on electric vehicles and e-mobility with a war chest of around US$50 billion to challenge Tesla, which, for Continue Reading
Moscow — Russian independent gas producer Novatek said late Wednesday that it has closed a deal to sell a 10% stake in the Arctic LNG 2 project to its long-term Continue Reading
At the Geneva International Motor Show, Tom Gardner, Senior Vice President, Honda Motor Europe, said that the company intends to move 100% of its European sales to electrified powertrains by Continue Reading
Crude oil futures were lower during mid-morning trade in Asia Wednesday after a larger-than-expected build in weekly US crude inventory data, analysts said. At 9:50 am Singapore time (0150 GMT), Continue Reading
The American Petroleum Institute (API) reported a large surprise draw in crude oil inventory of 7.29 million barrels for the week ending March 1, coming in way over analyst expectations Continue Reading
WTI has been trading in a tight range roughly between $55 and $57 a barrel for the past two weeks, and prices remained hemmed inside that band most of the Continue Reading
Two things to bear in mind when someone tells you they suffer from a problem of perception. First, perception shapes and sometimes outright supplants reality. Second, the complaint comes with Continue Reading
Goldman Sachs expects OPEC to succeed in clearing what it has deemed excessive oil supply by April, when the latest production cut deal will be reviewed at a meeting of Continue Reading
Libya’s biggest oil field resumed production, adding another complication to OPEC’s effort to trim a global supply glut. (Bloomberg) — Libya’s biggest oil field resumed production, adding another complication to Continue Reading
Royal Dutch Shell has disclosed that it does not have plans to declare force majeure on Bonny Light exports after a fire in an area around a key pipeline. A Continue Reading
Mexico will continue to need U.S. natural gas imports over the next decade, despite efforts by the new Mexican government to reduce dependence on American natural gas, data and analytics Continue Reading
The Russian accounts of Venezuelan companies, including state oil firm PDVSA, will move to the Russian Financial Corporation Bank (Rusfincorp), which is sanctioned by the United States, the RIA news Continue Reading
China and the United States appear to be inching toward a trade deal, with leaders in both countries anxious to avoid a further, politically unpopular slowdown in their economies. China Continue Reading
Supply of domestic coal is expected to tighten further as authorities in China’s northwestern province had ordered open-pit mines to shut down, market sources said Wednesday. Receive daily email alerts, Continue Reading
ExxonMobil and Chevron have sharply lifted their expectations for production in the Permian Basin, the heartland of the US shale boom, in the first half of the 2020S. In a presentation Continue Reading
Chevron Corp. and Exxon Mobil Corp. plan to significantly ramp up production in the oil field at the heart of the American fracking boom, the latest sign that the next Continue Reading
Exxon Mobil Corp on Tuesday estimated production at its top U.S. shale field would rise to 1 million barrels of oil and gas per day as early as 2024 – Continue Reading
The all-time high U.S. crude oil exports have been pushing demand and rates for very large crude carriers (VLCCs) higher since the middle of February as American exports are attractive Continue Reading
South Dakota’s governor, Kristi Noem, has proposed legislation seeking to uncover where out-of-state funds for pipeline protests come from and “cut them off at the source,” the Associated Press reports Continue Reading
Chevron sees Permian output at 900,000 boe/d by end-2023 ExxonMobil sees more than 1 million boe/d as early as 2024 Chevron US Gulf operating costs drop to half of 2014 Continue Reading
ExxonMobil and Chevron both expect their Permian output to reach around 1 million barrels per day by 2024. ExxonMobil Corp. expects its Permian production will increase to more than 1 Continue Reading
The two biggest U.S. oil companies tried to outdo each other on Tuesday, boasting about their prowess in shale to lure investors to their side. Chevron Corp and Exxon Mobil Continue Reading
Chevron Corp. and Exxon Mobil Corp. plan to significantly ramp up production in the oil field at the heart of the American fracking boom, the latest sign that the next Continue Reading
Drilling in the Permian has plateaued in recent months, but production is still growing. Crucially, Permian production is expected to continue to grow for years to come, but the region Continue Reading
Alaska’s dream of building a massive liquefied natural gas (LNG) export terminal could be coming to an end. For years, former Alaska Gov. Bill Walker pushed the massive $44 billion Continue Reading
Russia has long been established as a crucial component of most European natural gas import portfolios, with most imports received via pipeline through the Yamal-EuroPol pipeline (Poland) or the Baumgarten Continue Reading
The world and the oil and gas industry need to start tackling in earnest climate change, Spencer Dale, group chief economist at supermajor BP, told The Washington Post in an Continue Reading
Wind, solar forecast to top 5 TWh for first time Monday set 2019 high with peaks above 50 GW Forecast shows week 10 to average over 30 GW London — Continue Reading
Crude oil futures retreated from recent highs during mid-morning trade in Asia Tuesday as China lowers its economic growth target for 2019. At 10:25 am Singapore time (0949 GMT), ICE Continue Reading
Oil prices fell on Tuesday as China cut its 2019 economic growth target, dimming the outlook for fuel demand, although OPEC-led efforts to cut output still offered some support. U.S. Continue Reading
A steep selloff in US equity markets knocked crude futures off early-session highs, but optimism regarding a potential thaw in US-China trade relations and a tightening supply picture for 2019 Continue Reading
