What’s Keeping Oil From Rallying To $75?
WTI recently hit $60 per barrel for the first time since November, driven higher by the OPEC+ cuts, as well as by outages in Venezuela and Iran. Those supply cuts Continue Reading
LNG supply glut, price slump should raise questions over future projects: Russell
The slump in the spot price of liquefied natural gas (LNG) in Asia to its lowest in three years should give pause for thought to the slew of companies planning Continue Reading
How Big Oil Could Become Big Electricity
When Big Oil majors started buying EV charging networks and battery producers, they probably earned some praise for venturing into new business directions away from their increasingly unpopular core business. Continue Reading
More shale, who cares? Saudi Arabia pushes for at least $70 oil
Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit Continue Reading
China’s Q2 gasoline exports may dip on turnarounds, domestic demand: survey
China’s gasoline exports will likely fall in the second quarter as a slew of state-owned refineries are scheduled to undergo heavy maintenance in the coming months, while the recovery in Continue Reading
PetroChina expects its Venezuelan crude imports to fall 33% to 10 mil mt in 2019
PetroChina Ltd, the listed subsidiary of state-owned CNPC, expects its crude imports from Venezuela to drop by about a third to around 10 million mt (about 186,000 b/d) in 2019 Continue Reading
Russian air force planes land in Venezuela carrying troops: reports
Two Russian air force planes landed at Venezuela’s main airport on Saturday carrying a Russian defense official and nearly 100 troops, according to media reports, amid strengthening ties between Caracas Continue Reading
U.S. buyers of Venezuelan oil sub in Shell, BP offshore crude
U.S. sanctions on Venezuela’s oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are Continue Reading
What Norway’s Decision To Divest Means For US Shale
After months of deliberations, Norway’s government proposed in March that the country’s US$1-trillion fund—the world’s biggest sovereign wealth fund—divest from oil and gas exploration companies. The move by the fund, Continue Reading
Petrochemical leak keeps stretch of Houston port closed a third day
Ship traffic was halted for a third day on Sunday along a key stretch of the United State’s busiest oil port as emergency workers siphoned fuels from the Houston Ship Continue Reading
Oil Prices Dive On Economic Fears
Oil prices posted fresh four-month highs this week on tighter supply conditions before economic fears sent oil markets crashing. Venezuela and Iran continue to report outages, while the surprise drawdown Continue Reading
Oil dips further from 2019 highs on demand worries
Oil fell about 2 percent on Friday, slipping further from 2019 highs as focus shifted to a lack of progress in U.S.-China trade talks and as grim manufacturing data from Continue Reading
Stocks, Bond Yields Fall Amid Anxiety Over World Economy
Global stocks and bond yields slumped Friday as weak manufacturing data deepened investors’ anxiety about the health of the world economy. Major stock indexes have rallied this year despite a Continue Reading
U.S. Sanctions Hit Iran’s Oil Lifeline to Syria
U.S. sanctions have cut off Iranian oil shipments to Syria, taking an unprecedented toll on a flow of crude that had persisted in the face of long-term international restrictions and Continue Reading
U.S. Says Iran Poised to Resume Work on Nuclear Weapons
Iran’s Ministry of Defense unit responsible for developing nuclear weapons is poised to restart work and is using front companies to buy materials from Russia and China that could be Continue Reading
Procedures for Israeli gas exports to Egypt not yet complete: source
All the requirements needed for the start of Israeli gas exports to Egypt are not yet in place, an Israeli energy ministry source said, with first flows now not expected Continue Reading
Exxon Shale Deal With Algeria Falls Victim To Protests
Exxon’s negotiations with Algeria for the development of local shale gas resources are being delayed because of the widespread anti-government protests in the North American country, Reuters reported this week, Continue Reading
Nigeria: Govt Begins Rehabilitation of Port Harcourt Refineries
The Federal Government has kick-started the rehabilitation of Port Harcourt refineries. Speaking yesterday at the inauguration ceremony in Port Harcourt, Dr Maikanti Baru, Group Managing Director of NNPC, said the Continue Reading
India’s Reliance says it is not breaching U.S. sanctions against Venezuela
India’s Reliance Industries, operator of the world’s largest oil refining complex, on Friday, said in a statement it was not breaching U.S. sanctions against Venezuela. The company said that its Continue Reading
Mexico to Use Stabilization Fund to Pay Down Pemex Debt
The Mexican government plans to use money from a public income stabilization fund to help reduce the sizeable debt pile that state energy major Pemex has accumulated. Reuters reports , Continue Reading
PDVSA looking to hire refined products tankers as sanctions thin available fleet
Venezuelan state-owned PDVSA is seeking to extend the contracts of three petroleum tankers, and hire five additional tankers, to compensate for the loss of vessels due to US sanctions, according Continue Reading
Venezuela National Assembly Votes For Ban On Oil Shipments to Cuba
The opposition-led National Assembly of Venezuela this week voted to suspend crude oil shipments to Cuba after its president, Juan Guaido, slammed these exports as “funding dark purposes” in a Continue Reading
U.S. oil drillers cut rigs for fifth week in a row: Baker Hughes
(Reuters) – U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent Continue Reading
U.S., Canadian Rig Count Plunges As Oil Retreats
The the number of active oil and gas rigs fell sharply in the United States this week according to Baker Hughes, despite US oil production resuming highs this week that Continue Reading
US Drops 10 Oil, Gas Rigs
The U.S. scrapped a total of 10 oil and gas rigs this week. The U.S. dropped 10 oil and gas rigs this week, according to weekly data compiled by Baker Continue Reading
PG&E bankruptcy threatens major battery storage project
A major battery storage project that would help California replace three of its natural gas power plants may need to be scrapped as a result of PG&E Corp’s bankruptcy, according Continue Reading
GM to Invest $300 Million, Plans New Electric Vehicle at Michigan Plant
General Motors Co. said Friday it will invest $300 million to build a new electric car domestically rather than outside the country, a decision that comes as President Trump has Continue Reading
As Floods Inundate the Midwest, Many Ask: Will Our Levees Be the Next to Fail?
As record-breaking floods swamped the Midwest this week, dozens of levees built to protect people from flooding have catastrophically failed. The destruction has caused billions of dollars in damage and Continue Reading
Chemicals leak from Houston-area petrochemical fire disrupts ship traffic
An earthen barrier holding chemicals that leaked from a massive petrochemical fire outside Houston breached on Friday, prompting restrictions on travel around the site and through a part of the Continue Reading
Planned U.S. oil storage boom faces new scrutiny after tank-farm fire
A three-day petrochemical fire that spread a cancer-causing chemical and thick smoke over Houston suburbs this week have spurred calls for tougher safety regulations that could affect a nearly dozen Continue Reading
Russians in Heartland Sour on Vladimir Putin Over Money Woes
President Vladimir Putin’s promise to boost arms spending should have been a boon for this hardscrabble factory town, famed for making the heavy tanks that destroyed Nazi panzers in World Continue Reading
Exxon Could Be Stripped Of European Parliament Lobby Access
Exxon could lose its lobbying access to the European parliament after no company representative showed up at a hearing on climate change denial, the Guardian reports . A member of Continue Reading
Oil lingers slightly under 2019 highs on OPEC’s supply cuts, U.S. sanctions
Oil hovered slightly below 2019 peaks on Friday, propped up by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on Iran and Venezuela. Concerns that an Continue Reading
Oil Is Set To Rise, But The Rally May Not Last
The United States is no longer over-supplied with oil. That sounds like good news. The bad news is that it may signal lower oil prices going forward. An unexpected 9 Continue Reading
Oil slips but holds near 2019 peak as supplies tighten
Oil fell nearly 1 percent on Thursday, but held near 2019 highs, supported by a tightening of global stocks, OPEC production cuts and U.S. sanctions on key producers Iran and Continue Reading
This Price Spike Smells Like Rotten Eggs
You can’t see it, touch it or smell it, and lately you haven’t had to pay much for it either. Natural gas is America’s leading heating fuel, but a decadelong Continue Reading
Iran’s oil exports fall in March even before further U.S. clampdown: sources
Iran’s oil exports have dropped in March to their lowest daily level this year, according to tanker data and industry sources, even before Washington formally requires importing countries to reduce Continue Reading
Qatar Leverages LNG In Geopolitical Stroke Of Genius
By now it should be evident that the Saudi-led economic and political boycott of tiny, gas-rich Qatar has caused Doha to push back and chart its own course. A Saudi-led Continue Reading
Iran Says It Exports First Condensate From New South Pars Phase
Iran has delivered for export the first shipment from a new development phase of the giant gas field South Pars, including 300,000 barrels of condensate, Iranian media report , quoting Continue Reading
Gas shortage in Angola
A gas shortage in Angola, one of Africa’s leading oil producers, means drivers in the capital Luanda have to form lengthy queues to fill up their tanks. The shortages are Continue Reading
U.S. senators call on Venezuela to release jailed Citgo executives
U.S. Republican Senators Ted Cruz and John Cornyn on Thursday pressed Venezuelan President Nicolas Maduro to release six executives from Houston-based oil company Citgo Petroleum that have been in jail Continue Reading
Venezuela has its electricity back, for now, but it’s still on the verge of collapse
“The situation is critical,” says Nancy Rodríguez, who runs a produce stand at the Quinta Crespo market in Caracas. (Mary Beth Sheridan/The Washington Post) CARACAS, Venezuela — The lights are Continue Reading
Rumors Of Chinese Subsidy Cuts Send Shockwaves Through Solar Markets
Last year, China sent a shockwave through the global solar market after it cut subsidies and stopped approving new solar installations in the middle of 2018, aiming to curb a Continue Reading
Why No One Is Interested In Building EV Infrastructure
Across the United States, gas stations outnumber charging stations for electric vehicles by a ratio of approximately seven to one. Large stretches of highway without charging stations and a general Continue Reading
Canada’s Natural Gas Crisis Is Going Under The Radar
While Canada’s oil crisis has stolen much of the media spotlight in recent months, Canadian natural gas producers have been going through a similar predicament—not enough takeaway capacity amid growing Continue Reading
US natural gas in storage falls 47 Bcf to 1.143 Tcf: EIA
The amount of natural gas in US storage facilities decreased 47 Bcf to 1.143 Tcf in the week that ended Friday, the US Energy Information Administration reported Thursday. The draw Continue Reading
US sells 4.32 million barrels of SPR crude for over $285.7 million: DOE
The US Department of Energy has sold 4.32 million barrels of sweet crude from its Strategic Petroleum Reserve for a total of more than $285.7 million, an average of $66.14/b, Continue Reading
Floods shut nearly a sixth of U.S. ethanol production
Massive flooding in the U.S. Midwest has knocked out roughly 13 percent of the nation’s ethanol production capacity, as plants in Nebraska, Iowa and South Dakota have been forced to Continue Reading
25 States Are at Risk of Serious Flooding This Spring, U.S. Forecast Says
Tim Gruber for The New York Times Want climate news in your inbox? Sign up here for Climate Fwd: , our email newsletter. Vast areas of the United States are Continue Reading
Big Pivot In Energy Is Gaining Momentum
For years, the oil and gas industry has boasted about the longevity and durability of oil and gas reserves despite growing signs that peak oil demand is around the corner. Continue Reading