U.S. Oil Rig Count Falls As Prices Slide
The the number of active oil and gas rigs fell in the United States again this week according to Baker Hughes, despite record-breaking production for the week ending February 22—the Continue Reading
U.S. Approves $3.2B Appalachian Natural Gas Pipeline
TransCanada said on Friday that the U.S. Federal Energy Regulatory Commission (FERC) had approved the full in-service of the Mountaineer XPress natural gas pipeline project, which will help link the Continue Reading
US Shale Operators Cut CAPEX, Up Production
Analysis from Rystad Energy reveals a boost in production and a decrease in capital spending for U.S. shale companies in 2019. For U.S. shale companies, 2019 will see a boost Continue Reading
A brutal Arctic air mass is about to take over the United States
Temperatures as much as 30 to 50 degrees below normal are entering the Northern Plains as we close out the workweek. Through the weekend, brutal conditions you might expect in Continue Reading
More than 80 vessels queued in and outside of the Mississippi River due to high water
High water on the Mississippi River has slammed the brakes on coal and petcoke loadings in the US Gulf, with more than 80 vessels queued, according to S&P Global Platts’ Continue Reading
U.S. oil rig counts falls to lowest since May 2018: Baker Hughes
U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite Continue Reading
Russian oil output down in February, misses global deal target
Russian oil output stood at 11.34 million barrels per day (bpd) in February, down some 75,000 barrels per day from the October level, the baseline for a global deal, but Continue Reading
Oil climbs amid OPEC-led supply cuts, but economic weakness drags
Oil prices climbed on Friday as markets tightened amid output cuts by producer club OPEC, but surging U.S. supply and concerns of global economic slowdown kept a lid on further Continue Reading
The World Is Losing Fish to Eat as Oceans Warm, Study Finds
Fish populations are declining as oceans warm, putting a key source of food and income at risk for millions of people around the world, according to new research published Thursday. Continue Reading
LNG Oversupply May Be Looming
Although China will continue to raise its liquefied natural gas (LNG) imports this year, the 2019 rise in the world’s key LNG demand growth market may not be enough to Continue Reading
Cyprus Says Exxon Gas Discovery Is The Country’s Biggest To Date
As widely expected, ExxonMobil said on Thursday that it had made a natural gas discovery southwest off Cyprus, which Cypriot authorities hailed as the largest find offshore the eastern Mediterranean Continue Reading
Exxon’s Cyprus gas discovery adds another giant to East Med collection
ExxonMobil added another giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus but infrastructure bottlenecks and geopolitical disputes mean output from the field could Continue Reading
Saudi Arabia Oil Exports To U.S. Nosedive
Saudi Arabia’s crude oil exports to U.S. are falling sharply, with shipments so far this month at just 1.6 million barrels, according to data compiled by Bloomberg , versus 5.75 Continue Reading
Why Iran Fears The New Oil Order
The fundamentals of the oil market have changed significantly over the decades since the inception of the Organization of Petroleum Exporting Countries. Although the cartel’s oil production has increased over Continue Reading
Nigeria Says New Egina Production Is Not Part Of OPEC’s Cuts
Production from the recently launched Egina deepwater field would remain outside Nigeria’s commitment to stick to OPEC’s production cuts, according to state-held Nigerian National Petroleum Corporation (NNPC). “[I]t is not Continue Reading
Nigeria: Oil Sector Tops U.S.$218 Billion Illicit Financial Flows From Nigeria
The oil and gas sector of the Nigeria economy is responsible for 92.9 per cent of illicit financial flows (IFF) with over $217.7 billion said to have flowed out of Continue Reading
Dutch prosecutors target Shell over Nigeria oil deal
Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3 billion acquisition of Nigerian offshore oilfield OPL 245 in 2011. Shell said in a statement on its Continue Reading
Exclusive: Venezuela removed 8 tons of central bank gold last week – legislator
At least 8 tons of gold were removed from the Venezuelan central bank’s vaults last week, an opposition legislator and three government sources told Reuters, in the latest sign of Continue Reading
Pemex tie-ups to proceed despite president’s critical statement
Auctions scheduled later this year to pick joint venture partners for Mexican state oil company Pemex will proceed, an official at the national oil regulator said on Thursday, despite the Continue Reading
Cuba’s Reliance Upon Venezuela for Cheap Oil Looms as Potential Threat
The potential collapse of President Nicolás Maduro’s regime poses a threat to Cuba, which relies on Caracas for about 28% of the island’s oil needs. Venezuela’s opposition says the government’s Continue Reading
PDVSA spot crude offers rise to 10.8 million barrels following sanctions
Venezuela’s state-owned oil company PDVSA now has 10.8 million barrels of crude sitting dockside without a buyer due to US sanctions, according to reports from terminals reviewed by S&P Global Continue Reading
How Will Trump’s Stalemate With Kim Jong Un Impact Oil Prices?
Oil prices have been trending upward over the last two months, up around 22 percent since the start of the year. Much of this upward support on prices comes from Continue Reading
First Solar, Now Wind: China’s Renewable Dominance
Wind power’s global growth rate slowed slightly last year, with a 3.6 percent drop in new installed capacity as compared to 2017’s growth rate. Despite this small dip, however, the Continue Reading
China to import first U.S. oil cargo in 3 months: sources, Refinitiv
An oil tanker carrying U.S. crude oil is offloading its cargo at a Chinese port on Friday, marking China’s first import from the United States since late November, according to Continue Reading
U.S. crude oil output falls in Dec. for first time since May: EIA
U.S. crude oil production edged lower in December to 11.85 million barrels per day, posting its first decline since May, the U.S. Energy Information Administration said in a monthly report Continue Reading
U.S. offers up to 6 million barrels of oil from emergency reserve
The U.S. Energy Department said on Thursday it is offering up to six million barrels of sweet crude oil from the national emergency reserve in a sale mandated by a Continue Reading
U.S. energy secretary warns OPEC bill could cause oil spikes long term
The U.S. energy secretary said on Thursday the United States needs to be cautious about legislation allowing the Trump administration to sue OPEC and other oil producers oversupply cuts because Continue Reading
With Climate Science on the March, an Isolated Trump Hunkers Down
New efforts by President Trump and his staff to question or undermine the established science of climate change have created a widening rift between the White House on one side, Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending February 22, 2019 U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending February 22, 2019, Continue Reading
Are Semi-Solid State Batteries A Gamechanger?
The EV battery race intensified this week with the announcement that a startup financially supported by the U.S. Department of Energy had released a lithium ion battery that stores more Continue Reading
Alaska might give up on North Slope gas pipeline, LNG export terminal: official
Hunt for customers continues as competition increases Final engineering expenditure would need investor Anchorage — The new CEO of Alaska’s state gas corporation told legislators Thursday he is prepared to Continue Reading
Motiva refinery managing fine in tight heavy crude market: Saudi Aramco
Heavy crude prices rise on US’ Venezuela sanctions Motiva can easily switch crude diet, Judaimi says US Gulf Coast coking margins take a hit London — A tight market for Continue Reading
US energy secretary warns anti-OPEC bill could bring oil price spike
Trump ‘always concerned’ about rise in oil price US energy policy aims for stable prices: Perry IMO 2020 could raise diesel, jet fuel prices: IEA chief Washington — Receive daily Continue Reading
Baystar to More Than Double Capacity at Texas Site
Baystar is also building a steam cracker in Port Arthur Bayport Polymers LLC (Baystar) reported Thursday that it has officially broken ground on its new 625,000 metric ton-per-year polyethylene (PE) Continue Reading
Will Trump Take Action Against OPEC?
Brent is creeping back up towards the high-$60s per barrel, prompting a scolding of OPEC by President Trump via tweet earlier this week. Trump’s irritability with high oil prices is Continue Reading
The Permian Is A Double-Edged Sword For Oil Majors
The oil majors are scrambling to scale up their shale operations, and they are quickly becoming the most dominant producers in the shale sector, despite having arrived late to the Continue Reading
US Oil Stays Closer to Home
The long-running trade war between the U.S. and China is keeping ships from ferrying American oil far, far away. The distance that U.S. crude traveled by sea shrank in the Continue Reading