There are indications that ExxonMobil has concluded plans to divest from some onshore and offshore fields worth $3 billion in Nigeria. Industry and banking sources that made this disclosure to Continue Reading
Exxon Mobil may sell a suite of oil and gas fields it holds in Nigeria and has commenced talks on the sales as it focuses on new developments in United Continue Reading
Liquefied natural gas (LNG) will become a big part of China-U.S. trade once tensions are properly resolved between the two countries, a senior executive from China National Offshore Oil Corp Continue Reading
Venezuela’s state-run energy company, PDVSA, kept oil exports near 1 million barrels per day in March despite U.S. sanctions and power outages that crippled its main export terminal, according to Continue Reading
As the United States leans into sanctions against Venezuelan oil and the administration of contested president Nicolas Maduro, longtime PDVSA buyers have had to look to other Latin American countries Continue Reading
China’s three state oil and gas companies plan to increase their spending on oil and gas by 20 percent this year, bringing the total to some US$74.4 billion (500 billion Continue Reading
Canada is warming twice as fast as the rest of the world, a landmark government report has found, warning that drastic action is the only way to avoid catastrophic outcomes. Continue Reading
Working through two winters in the biting arctic cold, roustabouts bored three miles deep into the coastal plain of northeast Alaska in search of oil. In the spring of 1986, Continue Reading
Royal Dutch Shell is on track to revitalize the Rust Belt by building the first major factory in the region since 1992. The massive polyethylene plastics plant being constructed along Continue Reading
Washington — Global oil prices are not deterring the White House from considering additional sanctions against Venezuela, US Vice President Mike Pence said Tuesday. Receive daily email alerts, subscriber notes Continue Reading
Compared with cars, SUVs consume more energy per vehicle mile. Consequently, SUVs emit more carbon dioxide per vehicle mile than do cars. However, in the United States, the typical occupancy Continue Reading
U.S. producers of liquefied natural gas (LNG) are wooing buyers with offers to sell gas priced against benchmarks other than U.S. domestic prices, ahead of an expected flood of supplies Continue Reading
Exxon Mobil Corp has offered a glimpse of the scale of its nascent energy trading operation, disclosing operating profit and losses of about $230 million during each quarter last year, Continue Reading
Although a government-commissioned scientific review of fracking in British Columbia released earlier this month occupies some 232 pages, the word “concerns,” as in “concerns regarding environmental impact,” pops up more Continue Reading
Russia continued to gradually reduce oil production in March, but it missed its production cut target under the OPEC+ deal, data from Russia’s Energy Ministry showed on Tuesday. As at Continue Reading
Crude oil futures were higher during mid-morning trade in Asia Tuesday, extending the uptrend seen Monday, as expectations increased that the OPEC+ producer group would extend global output cuts. At Continue Reading
Oil hit a 2019 high above $69 a barrel on Tuesday on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut, and Continue Reading
Oil climbed about 2 percent to new 2019 highs on Monday, with Brent crude touching $69 a barrel, after positive signs for the global economy and tighter supplies drove both Continue Reading
The collapse of oil prices late last year, along with pressure from shareholders, has led to a slowdown in the U.S. shale industry. The EIA released new monthly data on Continue Reading
LONDON—Banks raised their forecasts for the price of Brent crude, the global oil benchmark, in 2019, as the market continues to be supported by production cuts led by the Organization Continue Reading
OPEC oil supply sank to a four-year low in March, a Reuters survey found, as top exporter Saudi Arabia over-delivered on the group’s supply-cutting pact while Venezuelan output fell further Continue Reading
The U.S. and Chinese manufacturing sectors showed signs of stabilizing in March from earlier slowdowns, while Europe stumbled last month, evidence of an uneven and uncertain global economic outlook. The Continue Reading
With thin profit margins growing even thinner in the crude oil sector, commodity trading houses have been looking for the next big movement in the energy industry to sink their Continue Reading
OPEC’s oil production in March 2019 fell to its lowest level since February 2015, as Saudi Arabia cut more than it had pledged under the output cut deal and Venezuela Continue Reading
DUBAI (Reuters) – Saudi Aramco, the world’s biggest oil producer, made core earnings of $224 billion last year, almost three times as much as Apple, figures from the state-owned company Continue Reading
raq’s oil exports fell month-on-month to an average of 3.377 million barrels per day (bpd) in March, the Oil Ministry said on Monday, as poor weather interrupted loadings and producer Continue Reading
Algeria’s ailing president, Abdelaziz Bouteflika, agreed Monday to step down by the end of the month, yielding to weeks of mass demonstrations demanding his ouster. In a short statement carried Continue Reading
Saudi Aramco, the world’s largest oil company, has for the first time ever issued a bond prospectus to financial markets, shedding some light on its financial structure and management. By Continue Reading
Oil-rich Libya, torn between a UN-backed government based in Tripoli and an alternative administration and institutions in the east, could see the years-long political crisis solved this month by the Continue Reading
Iran’s Oil Minister Bijan Zangeneh arrived in Moscow on Monday for senior-level talks regarding the global oil market and energy cooperation between Iran and Russia, the Islamic Republic News Agency Continue Reading
The government should demonstrate seriousness in diversifying the economy The pledge by the federal government to build a digital economy around the creative sector to create jobs for young people Continue Reading
The 650,000 barrels per day Dangote refinery is expected to produce 65.4 million litres of petrol, diesel, aviation fuel and Kerosene daily when it becomes operational. According to the Group Continue Reading
Venezuela’s president Nicolas Maduro announced 30 days of electricity rationing after a third blackout hit the struggling South American country. The Associated Press quotes Maduro as saying on Sunday the Continue Reading
Exxon Mobil Corp said on Tuesday it had made a final investment decision on a multi-billion dollar expansion of its integrated manufacturing complex in Singapore that would help it increase Continue Reading
China’s Sinopec Corp has ended a five-year crude oil purchasing strategy to rein in the speculative derivatives activity of its trading arm Unipec after a record trading loss late last Continue Reading
Singapore — The Australian Government has again lifted its forecast for the country’s LNG exports over the coming years and said in 2019 it will be the world’s leading exporter Continue Reading
Over the past year, several companies have outlined plans to build solar-and-storage systems around the world—from Australia to Arizona and to the heart of the Permian oil patch in West Continue Reading
President Donald Trump has circumvented a court order blocking the authorization of the controversial Keystone XL oil pipeline project and has issued a permit for the project. Preliminary work on Continue Reading
Senior Republicans are urging Donald Trump to curb his rhetoric on climate change ahead of next year’s election, as evidence emerges that young Republican voters are increasingly persuaded by the Continue Reading
Billionaires are spending more on renewable energy, storage, and battery technology. A group of them even set up a US$1-billion fund, Breakthrough Energy Ventures , to encourage research in these Continue Reading
President Trump issued an executive order on Friday to push the Keystone XL pipeline forward, hoping to short-circuit litigation on the project and get it off the ground. The executive Continue Reading
A new study finds that environmental damage caused by corn production results in 4,300 premature deaths annually in the United States, representing a monetized cost of $39 billion. The paper, published in Nature Continue Reading
America became the fifth largest exporter of liquid natural gas (LNG) in the world last year. With more liquefied natural gas plants coming online along the eastern and southern coastlines Continue Reading
Duke Energy is proposing a $76-million initiative to spur EV adoption across the state of North Carolina—the largest investment in electric vehicle (EV) infrastructure yet in the Southeast US. In Continue Reading
In March, Cummins began delivering eight Cummins-powered all-electric vehicles to the United States Postal Service (USPS) in California. The fully-electric Cummins PowerDrive equipped vans are expected to reduce fuel and Continue Reading
Royal Dutch Shell said on Tuesday it would not renew its membership of a leading U.S. oil refining and petrochemical trade group in 2020 due to misalignment over climate policy. Continue Reading
Russian oil output declined to 11.298 million barrels per day (bpd) last month, energy ministry data showed on Tuesday, missing the target set under a global deal to cut oil Continue Reading
Crude oil futures were higher during mid-morning trade in Asia Monday as confidence seeped back into the oil markets following signs of progress over the US-China trade negotiations and continued Continue Reading
Oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears Continue Reading
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures surged to a new high for the year this week. The markets are being underpinned by the OPEC-led production cuts Continue Reading
