The U.S. shale industry is increasingly dominated by the oil majors, with small and medium-sized drillers under financial pressure. Shareholders, banks and other analysts are losing patience with unimpressive performances Continue Reading
Murphy Oil Corporation has signed a deal to sell its assets in Malaysia, becoming the latest U.S. company to exit projects abroad as it focuses on high-margin opportunities in U.S. Continue Reading
Carbon dioxide emissions from S energy consumption will remain near current levels through 2050, according to projections in EIA’s Annual Energy Outlook 2019 . The AEO2019 Reference case, which reflects Continue Reading
Last month, ExxonMobil and Qatar Petroleum announced that they will proceed with construction of the >$10 billion Golden Pass liquefied natural gas (LNG) export facility on the Texas Gulf Coast. Continue Reading
U.S. exports of liquefied natural gas (LNG) to Europe will be the main competition for Gazprom this year, the Russian gas giant said on Thursday in an abrupt change of Continue Reading
Crude oil futures were stable during mid-morning trade in Asia Thursday after an overnight rally that saw both benchmarks rise to four-month highs on the release of bullish US crude Continue Reading
Oil held near 2019 highs on Thursday, supported by tightening U.S. stocks and declining output from key producers due to OPEC production cuts and U.S. sanctions on Iran and Venezuela. Continue Reading
A day after API’s estimate of another weekly crude oil inventory draw in a row sent WTI higher, the Energy Information Administration confirmed a large draw, at 9.6 million barrels Continue Reading
Brent Crude prices could reach $75 a barrel in the third quarter this year as the oil market will likely swing into a deficit, due to OPEC’s production cuts and Continue Reading
Interestingly, there are still peak oil advocates who think that we’ve reached peak oil now, despite the fact that shale oil production is still growing, OPEC+ has about 1.5 mb/d Continue Reading
Sudan considers oil and gas exploration blocks offered by Egypt in the Red Sea’s Halayeb area as a direct intrusion into Sudanese territory, Saad al-Deen Hussein al-Bishri, minister of state Continue Reading
The discovery of the giant gas field Tamar of the coast of Israel in 2009 was the beginning of a new period for the Eastern Mediterranean as an energy hot Continue Reading
Iraq risks losing over 100,000 bpd of production as flood waters overcome failing infrastructure. An aerial view on March 18, 2019, of a dirt berm north of the Majnoon oil Continue Reading
When Washington announced the return of economic sanctions against Iran, the main idea was pretty clear: cut exports of vital oil to zero to paralyze the economy and prompt a Continue Reading
Premium for Iraqi crude continue to strengthen this month highlighting the supply tightness in medium, heavy sour crude supply seen globally since disruption of exports from Venezuela. Receive daily email Continue Reading
An increase in the number of new refining capacity, expected to extend till the end of 2024, signifies major competition ahead for the oil industry, with possible shutdowns, the International Continue Reading
The Nigerian National Petroleum Corporation (NNPC) said on Wednesday it would achieve the 2.3 million barrels per day production target in the 2019 budget by sustaining the improved security in Continue Reading
Citigroup Inc plans to sell several tons of gold placed as collateral by Venezuela’s central bank on a $1.6 billion loan after the deadline for repurchasing them expired this month, Continue Reading
Colombia has shelved two environmental licensing requests made by oil companies ConocoPhillips and Canacol Energy Ltd for fracking projects in northern Cesar province, two sources with knowledge of the matter Continue Reading
Venezuelan intelligence agents have detained Roberto Marrero, chief of staff to opposition leader Juan Guaido, as well as opposition legislator Sergio Vergara, Guaido’s press team said on Thursday. The agents Continue Reading
India’s Reliance Industries is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar U.S.-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Continue Reading
U.S. crude imports from Venezuela dropped to zero last week, for the first time on record, preliminary data from the Energy Information Administration showed on Wednesday. Imports from Venezuela, historically Continue Reading
Oil prices have broken new multi-month highs, but the next level up may largely depend on what happens between the U.S. and Chinese trade negotiations. There have been conflicting reports Continue Reading
With the U.S. and China preparing for a fresh round of face-to-face negotiations, President Trump said the U.S. expected to keep tariffs on Chinese goods in place for a “substantial Continue Reading
Just a few years ago, instead of watching just how far spot LNG prices in Asia could tumble, the opposite was true. In the aftermath of the Fukushima nuclear disaster Continue Reading
Have you noticed the absolute carnage taking place in the U.S. shale oil stocks? It seems as if Wall Street and investors are finally growing weary of an industry that Continue Reading
The insanity continues in the United States second largest shale oil field as the fundamental economics go from bad to worse. While it is true that the shale industry doesn’t Continue Reading
A U.S. judge has blocked oil drilling planned in Wyoming because the government failed to adequately consider its impact on global warming – a decision that could complicate President Donald Continue Reading
The Trump administration’s fourth major auction for oil and gas leases in the U.S. Gulf of Mexico received $244 million in high bids on Wednesday, reflecting an uptick in interest Continue Reading
The Federal Reserve expressed increasing concern about slowing economic growth as it left interest rates unchanged on Wednesday and showed little appetite for raising them in the near future. The Continue Reading
Summary of Weekly Petroleum Data for the week ending March 15, 2019 U.S. crude oil refinery inputs averaged 16.2 million barrels per day during the week ending March 15, 2019, Continue Reading
BP is planning to start powering some of its operations in the United States with electricity produced by solar farms, Bloomberg reports , quoting the chief executive of an affiliate, Continue Reading
Commercial crude stocks dip 9.59 million barrels to 439.48 million barrels Exports surge 846,000 b/d to 3.39 million b/d Refinery utilization steps 1.3 points higher to 88.9% of capacity New Continue Reading
Semi-solid battery developer 24M has developed a novel dual electrolyte system that makes it possible to manufacture Li-ion battery cells with compositionally distinct electrolytes—anolytes and catholytes—at scale, enabling next-generation chemistries Continue Reading
The oil and natural gas industry employed over 348,000 Texans in 2018, TXOGA reveals. The oil and natural gas industry employed over 348,000 Texans in 2018, Todd Staples, president of Continue Reading
Jenn Ackerman and Tim Gruber Want climate news in your inbox? Sign up here for Climate Fwd: , our email newsletter. There were no good choices for John Remus, yet Continue Reading
Oil price lost 44% of its value late last year. That price collapse was a signal to tight oil companies to stop over-producing. The message will be repeated until action Continue Reading
In a dynamic that shows just how far U.S. oil production has come in recent years, the U.S. Energy Information Administration (EIA) said on Monday that in the last two Continue Reading
Ford is expanding its production capacity for the company’s next-generation battery electric vehicles at a second North American plant. Tied to the company’s $11.1-billion investment in global electric vehicles, Ford Continue Reading
The American Petroleum Institute (API) reported a surprise draw in crude oil inventory of 2.133 million barrels for the week ending March 15, coming in under analyst expectations of a Continue Reading
Oil prices edged up on Wednesday, supported by ongoing supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela, although gains were limited by concerns over Continue Reading
Oil prices have traded relatively flat on Tuesday morning, despite bullish news continuing to mount. U.S. natural gas production soared to a new all-time high in 2018, rising by a Continue Reading
Oil prices were largely steady around four-month highs on Tuesday on expectations that OPEC would continue production cuts till the end of the year, and ahead of weekly U.S. data Continue Reading
The world’s largest independent commodity trader, Vitol, expects global oil demand to peak after 15 years, essentially putting the ‘peak oil demand’ date somewhere in the mid-2030s like other key Continue Reading
“The 2020 IMO marine regulation change is one of the most dramatic ever seen to product specifications, although the shipping and refining industries have had several years notice,” the International Continue Reading
Anti-government protests in Algeria were probably supposed to end after long-term president Abdelaziz Bouteflika dropped his plan to run for a fifth term in office this year. They didn’t. In Continue Reading
OPEC decided to maintain deeper cuts for the next few months, but it also decided to delay until June a decision on whether or not to extend the supply curbs. Continue Reading
The United Arab Emirates’s energy minister said on Wednesday he expects OPEC to finalize the long-term cooperation charter with its non-OPEC partners in June. The UAE is committed to delivering Continue Reading
At least two tankers have ferried Iranian fuel oil to Asia in recent months despite U.S. sanctions against such shipments, according to a Reuters analysis of ship-tracking data and port Continue Reading
Highlights Libya currently pumping 1.2 million b/d Sharara field to approach 300,000 b/d in ‘next few days’ NOC stepping up upstream efforts Studying shale oil, gas prospects Baku — Libya’s Continue Reading
