Crude oil prices, which plunged in the fourth quarter of 2018, have rebounded significantly in 2019. In the first quarter of 2019, oil prices recorded the best quarterly gain since Continue Reading
Oil prices jumped to five-month highs this week, pushed higher by a bullish cocktail of supply outages, geopolitical unrest and a sputtering shale sector. The most recent factor is the Continue Reading
Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking vrecord-breakingonfidence for the oil giant Continue Reading
The oil patch is reeling from a political crisis in Algeria that first saw Exxon halt its prospective shale ambitions in the country, and has now spread to major trading Continue Reading
Highlights Production remains unaffected Further escalation in violence seen likely Zawiya export terminal, refinery at risk London — Libya’s National Oil Corporation said Tuesday it is discussing way to keep Continue Reading
Highlights Exports jump to 1.70 million b/d in March Flows to China, South Korea increase Sharp fall seen in Iranian oil inventories London — Iranian oil exports, which have been Continue Reading
Western diplomats sat down for three hours with Libyan commander Khalifa Haftar in his eastern stronghold last month to try to dissuade him from launching an offensive against the internationally Continue Reading
Saudi Aramco’s newly issued dollar-denominated bonds inched up on Wednesday, with longer-dated paper outperforming, sources familiar with the matter said. The company on Tuesday issued $12 billion worth of paper, Continue Reading
The Saudi plan to use their state-run oil giant, Aramco, as a piggy bank panned out fabulously for the Kingdom on Tuesday, with international investor demand topping $100 billion in Continue Reading
Venezuela removed eight tonnes of gold from the central bank’s vaults last week, and the cash-strapped socialist state is expected to sell the bullion abroad as it seeks to raise Continue Reading
Two of Venezuela’s four crude oil upgraders, which are necessary to process the country’s extra-heavy crude into exportable grades, have restarted after halting activities due to blackouts in March, according Continue Reading
Argentina’s state-led YPF is preparing a shipment of light crude from Vaca Muerta, a trend the federal government expects to gain as production increases from the shale play, Argentinian Energy Continue Reading
Venezuela’s government has signed an agreement with Russia under which the iron, steel, mining and agriculture industries will receive Russian investment and other participation, Venezuela’s official press said Tuesday. The Continue Reading
Mexico’s government will open retail gasoline stations controlled by the army if retailers do not decrease fuel prices, President Andres Manuel Lopez Obrador said Tuesday. Register Now CIF Eastern Mexico Continue Reading
U.S. Agriculture Secretary Sonny Perdue said on Tuesday that talks with China about reducing Beijing’s tariff on U.S. ethanol products were “positive” but cautioned the discussions were not yet over. Continue Reading
From the Altai Mountains to the Pacific Coast, logging is ravaging Russia’s vast forests, leaving behind swathes of scarred earth studded with dying stumps. The culprit, to many Russians, is Continue Reading
China National Petroleum Corp (CNPC), the country’s largest state-owned oil and gas company, said on Wednesday it will permanently close a small refinery in China’s northwest after the plant failed Continue Reading
ExxonMobil, France’s Total, and Australia’s Oil Search have signed a gas agreement with Papua New Guinea, outlining the fiscal terms for a new liquefied natural gas (LNG) project in the Continue Reading
U.S. crude oil production is expected to rise by 1.43 million barrels per day (bpd) in 2019 to average 12.39 million bpd, the U.S. Energy Information Administration (EIA) said on Continue Reading
Forecast Highlights Global liquid fuels For the 2019 summer driving season that runs from April through September, EIA forecasts that U.S. regular gasoline retail prices will average $2.76 per gallon Continue Reading
Energy storage becoming increasingly important Mix of solutions will vary by market, region The future US power system will likely include a mix a renewable energy, natural gas and energy Continue Reading
The US Energy Information Administration on Tuesday raised its forecasts for WTI and Brent prices as it said market activity indicates that recent inventory withdrawals and unplanned supply distributions have Continue Reading
Highlights 2019 production estimated at 41-year low Coal expected to make up 24.3% of power generation, gas at 36.8% Houston — The US will likely produce 684.1 million st of Continue Reading
Highlights Natural gas consumption rising 3% in 2019, averaging 84.61 Bcf/d Lower summer power consumption on more moderate temps Houston — The US Energy Information Administration on Tuesday has boosting Continue Reading
The Tulsa, Oklahoma-based independent said the cuts are part of a bigger plan to cut company costs. U.S. independent Laredo Petroleum, Inc. whose business focuses primarily in the Permian, is Continue Reading
Developers have been trying for six years to build a 124-mile natural gas pipeline from Pennsylvania to New York. Despite winning a federal approval in 2014, the project is still Continue Reading
A new report by PetroLMI forecasts that Canada’s oil and gas industry is at risk of losing 12,500 jobs this year. About 12,500 of Canada’s oil and gas jobs are Continue Reading
Blizzards and windstorms will punish the U.S. Plains and Midwest on Wednesday as a powerful late winter storm threatens more flooding in areas like South Dakota’s Pine Ridge Indian Reservation Continue Reading
WASHINGTON (Reuters) – President Donald Trump will issue two executive orders in the heart of the Texas energy hub on Wednesday seeking to speed gas, coal and oil projects delayed Continue Reading
WASHINGTON—In a move to expedite oil and gas pipeline projects, President Trump plans to sign a pair of executive orders that would overhaul some environmental permitting rules and limit shareholder Continue Reading
The Keystone Steele City pumping station, to which the Keystone XL pipeline is slated to connect, is seen in Nebraska. President Trump plans to issue a pair of executive orders Continue Reading
The American Petroleum Institute (API) reported a build in crude oil inventory of 4.1 million barrels for the week ending April 5, coming in over analyst expectations of a 2.294-million-barrel Continue Reading
According to tracking by Veloz, electric car sales in California in Q1 2019 continued their upward trend, with year-over-year increases each month and a 13% increase over Q1 2018. According Continue Reading
Western Europe’s biggest petroleum producer is falling out of love with oil. To the dismay of the nation’s powerful oil industry and its worker unions, the opposition Labor Party over Continue Reading
Royal Dutch Shell is launching a $3oom forestry programme in an attempt to reduce its emissions, at a time when an increasing number of oil companies are investing in carbon Continue Reading
Yesterday’s headlines suggested that European markets were taking a beating from rising oil prices–but this was a blip on the radar tracking some of the toughest resilience to a combination Continue Reading
Crude oil futures were rangebound in mid-morning trade in Asia Tuesday, continuing to firm at five-month highs given the risk of supply outages in Libya, while market participants await fresh Continue Reading
Crude oil futures remained stable during mid-afternoon trade Tuesday as market participants eye fresh cues amid expectations of higher US crude stocks in a still-bullish market scenario. At 2:15 pm Continue Reading
It’s not just OPEC production cuts, Venezuelan chaos, and sanctions that are pushing up oil prices this year–U.S. shale production is slowing, too. And the result is a phenomenal 30-percent Continue Reading
Oil hit a five-month high above $71 a barrel on Tuesday, supported by concern that violence in Libya could further tighten supply already squeezed by OPEC cuts and U.S. sanctions Continue Reading
Oil prices rose up to 2 percent on Monday, hitting five-month highs on expectations that global supplies would tighten due to fighting in Libya, OPEC-led cuts and U.S. sanctions against Continue Reading
As young people rightly demand real solutions to climate change, the question is not what to do — eliminate fossil fuels by 2050 — but how . Beyond decarbonizing today’s Continue Reading
Oil and gas exploration is off to a flying start in 2019, with majors taking a bigger bite of the conventional resources discovered in the first quarter, according to Rystad Continue Reading
Warplanes loyal to Gen. Khalifa Haftar shelled the Libyan capital’s only functioning airport, as the rogue military commander defied U.S. calls to halt an assault on Tripoli. Mr. Haftar, who Continue Reading
Saudi Arabia could begin natural gas exports in five-six years as it has already begun talks with neighboring Gulf Arab states to build natural gas pipelines, S&P Global Platts quoted Continue Reading
Just a day after the Saudis allegedly threatened the hegemony of the almighty petrodollar, Saudi Aramco began the sale of its first-ever dollar bonds with an order-book of around $40 Continue Reading
“The Ministry of Energy, Industry and Mineral Resources affirmed today that recently circulated claims that the Kingdom of Saudi Arabia is threatening to sell its oil in currencies other than Continue Reading
Companies that continue to do business with Iran, including oil trades allowed under US waivers, will have to conduct more due diligence after the US designated the Islamic Revolutionary Guard Continue Reading
Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from U.S. sanctions against the OPEC-member, four sources Continue Reading
Saudi Aramco has attracted orders in excess of $85 billion for its planned debut international bond, a source familiar with the matter said. Aramco was expected to raise around $10 Continue Reading
