Another 90-day waiver allows for critical power purchases as Iraq tries to balance relations between rival powers. Iraqi Prime Minister Adil Abd al-Mahdi meets with U.S. Secretary of State Mike Continue Reading
There are indications that Nigeria may amend its N8.9 billion 2019 budget, following the recent oil output cut by about 400,000 barrels per day, bpd, in conformity with the Organisation Continue Reading
The Nigerian National Petroleum Corporation (NNPC) is to amend its planned northern corridor gas supply line to extend up to Algeria from Kano, a distance of over 2000 kilometres according Continue Reading
The Kolmani River-II Well which drilling was flagged off last month by President Muhammadu Buhari is progressing satisfactorily, with drilling of 6,700 feet so far, the Group Managing Director of Continue Reading
Venezuela has suspended crude oil exports to India, one of its key markets until very recently, Reuters reported on Tuesday, citing a statement from the energy ministry of Azerbaijan, where Continue Reading
Venezuela’s largest steelmaker Sidor shut all operations after the country’s energy blackout March 8, sources within the mill said Tuesday. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Highlights 80% of work to develop 20 new fields awarded Company will develop every discovery it finds going forward Lopez Obrador says NOC will be more efficient than private operators Continue Reading
Crude oil futures were lower during mid-morning trade in Asia Tuesday amid concerns over the ongoing trade strife between the US and China, while market sources were looking ahead for Continue Reading
This nation’s slums have been the backbone of the leftist government for decades, and one of few remaining bulwarks for President Nicolás Maduro. They are now turning on the embattled Continue Reading
The global oilfield service sector’s recovery from the deepest trough it has ever encountered is not going to happen overnight. Not until 2025, 11 years after the last peak, are Continue Reading
A Stanford-led team has developed a new electrolysis system to split seawater in hydrogen and oxygen. Their findings are published in an open-access paper in the Proceedings of the National Continue Reading
In New Mexico’s Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry’s notorious boom-and-bust cycles. Continue Reading
In the Permian Basin of Texas and New Mexico, the racing heart of the US shale oil boom, there is generally not too much soul-searching about the implications for the Continue Reading
Vice President Pence will survey the widespread destruction across the Midwest on Tuesday, following “historic” flooding that has killed at least four people, leveled bridges and submerged huge swaths of Continue Reading
The oil industry has done its best to play down the oil market effect of the impending IMO 2020 rule. Executive after executive has tried to reassure politicians and policy Continue Reading
Negotiators for the U.S. and China have scheduled a new round of high-level trade talks in Beijing and Washington, aiming to close a deal by late April to end the Continue Reading
Crude oil futures were largely stable during mid-morning trade in Asia Tuesday, after the OPEC meeting left the market with little clarity on the duration of the supply cut agreement. Continue Reading
Oil prices have already hit four-month highs, forcing a range of analysts to overhaul their expectations for this year. “The latest Brent rally has brought prices to our peak forecast Continue Reading
Oil prices were near 2019 highs on Tuesday, supported by supply cuts led by producer club OPEC. U.S. sanctions against oil producers Iran and Venezuela are also boosting prices, although Continue Reading
Oil prices rose to near four-month highs on Monday, supported by the prospect of extended OPEC-led oil supply curbs and signs of inventory declines in U.S. crude stockpiles. Brent crude Continue Reading
There’s a bullish outlook for oil even though there are a growing number of potential factors that could undermine demand in coming years. Despite these problems from trade wars, Brexit Continue Reading
Oil producer group OPEC on Monday scrapped its planned meeting in April and will decide instead whether to extend output cuts in June, once the market has assessed the impact Continue Reading
Saudi Arabia’s crude oil exports in January fell to 7.254 million barrels per day from 7.687 million bpd in December, official data showed on Monday. OPEC’s biggest producer pumped 10.243 Continue Reading
Over the past few months, oil market participants and analysts focused on OPEC’s production cuts, soaring U.S. shale output, the U.S.-China trade dispute, projections of slowing oil demand growth, and Continue Reading
Saudi Arabia’s crude oil exports continued to fall at the start of this year after OPEC’s largest producer started to aggressively cut oil supply in December last year to prevent Continue Reading
Iran’s President Hassan Rouhani officially launched four new development phases at the giant South Pars offshore gas field, which will add 110 million cubic meters to the daily output of Continue Reading
Venezuela may divert oil originally bound for the United States to Russian oil company Rosneft or other destinations due to U.S. sanctions, Venezuelan oil minister and president of state-run oil Continue Reading
The Mexican government will invite four firms to bid on the construction of an $8 billion refinery for state oil company Pemex, officials said Monday, as President Andres Manuel Lopez Continue Reading
Mexico’s national oil company Pemex plans to triple the number of wells it will drill this year, the company’s chief executive said on Monday, in a bid to grow crude Continue Reading
Venezuela has suspended oil exports to India, the Azeri energy ministry said in a statement following a meeting with the Venezuelan oil minister and president of state-run oil company PDVSA, Continue Reading
The liquefied natural gas industry has become too reliant on demand for the fuel from China, industry executives warned at last week’s CERAWeek, advising players in the LNG field to Continue Reading
Chinese refiners are expected to process more than 13 million barrels of crude oil per day for the first time ever in the third quarter this year, a Reuters survey Continue Reading
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
A large fire at a petrochemical storage facility near Houston sent a thick black plume of smoke over the U.S.’s fourth-largest city on Monday and was expected to continue for Continue Reading
The long-chronicled pipeline woes in Canada continue to bedevil the oil industry. Now, major Canadian companies are holding back on upstream production expansions because of the inability to ship oil Continue Reading
The Federal Highway Administration (FHWA) has made awards under the Broad Agency Announcement (BAA) for a Phase 1 Truck Platooning Early Deployment Assessment. This project is being conducted to understand Continue Reading
Norway’s biggest oil company has held talks with potential suitors for its stake in the Eagle Ford business. (Bloomberg) — Equinor ASA is considering selling all or some of its Continue Reading
The oilfield services sector in the Permian Basin could be getting action-packed. Hydraulic fracturing operations appear to be ramping up in the Permian Basin, suggesting that the region’s oilfield services Continue Reading
The Nordstream 2 pipeline represents the last stand of U.S. influence over the internal affairs of Europe. Once finished it will stand as a testament to the fundamental split between Continue Reading
The UK is on track to import this month its highest volume of liquefied natural gas (LNG) since October 2015, as a wave of new global LNG supply and muted Continue Reading
The investments needed to ensure stability in the global oil industry are returning after a downturn, but the pace is still slow, OPEC Secretary General Mohammed Barkindo said. Barkindo was Continue Reading
Saudi Arabia’s energy minister said on Sunday he was optimistic about continued commitment to the oil supply cut agreement between OPEC and non-OPEC members. “I am obviously optimistic that implementation Continue Reading
OPEC is set to scrap its planned meeting in April and decide instead whether to extend oil output cuts in June, when the market will be able to assess the Continue Reading
Saudi Arabia’s energy minister said on Monday that he was confident that OPEC and its non-OPEC partners will reach full conformity with cuts, and even exceed it, in weeks to Continue Reading
Saudi energy minister Khalid al-Falih said on Sunday the job of OPEC and its allies was not done yet adding that the group of oil producers needed to “stay the Continue Reading
OPEC and a group of 10 oil-producing nations led by Russia are deepening their crude production cuts, but remain split on whether the curbs should remain in place through the Continue Reading
OPEC and its allies are not likely to decide whether to extend their oil production cuts until June, close to their scheduled expiry, Saudi energy minister Khalid al-Falih said Monday. Continue Reading
Iranian President Hassan Rouhani said on Monday that the government would file a legal case in Iran against U.S. officials who imposed sanctions on the country as a precursor to Continue Reading
n southern Iraq, where the Euphrates and Tigris rivers meet, the Fao peninsula was once known for its swathes of henna plants and palm trees. But the lush greenery of Continue Reading
A major challenge for Central Asia’s oil and natural gas industry has always been how to transport petroleum products from the landlocked region to global markets. That issue resurfaced last Continue Reading
