New Model Suggests Slower Decline of Glaciers
The complex relationship between Antarctica’s glaciers and the land on which they rest may help slow the rate of ice loss in the long term, according to a new method Continue Reading
Iran Demands U.S. Apologize For “Illegal” Sanctions
Global oil markets are still adjusting to President Trump’s decision on Monday to not extend the 180-day waiver for Iranian oil imports to the country’s eight largest customers. On Thursday, Continue Reading
Saudi Arabia Will Cap The Oil Price Rally
The US said on Monday that it won’t extend the sanctions waivers for eight countries importing crude oil from Iran. The move could remove around 1.1 million barrels per day Continue Reading
Iraq, Kurdistan To Discuss 50% Increase In Oil Production
The central Iraqi government will meet with its Kurdish counterparts soon to talk about oil exports from the now semi-autonomous region that tried to gain independence last year. Reuters reported Continue Reading
U.S. Sanctions Strip Iran Of $10 Billion In Revenues
The U.S. sanctions imposed last November on Iran have denied the country some US$10 billion in oil revenues so far, Washington’s Special Envoy for Iran Brian Hook told media. The Continue Reading
Turkey says trying to convince U.S. to allow Iranian oil imports
Turkey is trying to convince the United States to allow refiner Tupras, its biggest oil importer, to continue buying crude oil from Iran free of sanctions, Foreign Ministry spokesman Hami Continue Reading
Saudi, UAE overstate their oil capacities: Iran oil minister
Iranian Oil Minister Bijan Zanganeh said Saudi Arabia and the United Arab Emirates overstate their oil capacities, Iran’s state news agency IRNA reported on Friday. The comments were in reaction Continue Reading
This Country Will Be Critical For The Oil Industry’s Future
Iraq will play a crucial part in meeting global oil demand over the next decade, according to a new report from the International Energy Agency (IEA). Iraq is expected to Continue Reading
Investment To Hit $1 Trillion In The World’s No.1 Energy Hub
Countries in the Middle East and North Africa (MENA) region have a total of US$1 trillion in committed and planned investments in the energy sector over the next five years Continue Reading
Delhi drives push for electric vehicles in India
For most of the naughties, Bangalore-based entrepreneur Chetan Maini was the creator of the world’s top-selling electric car. Mr Maini sold about 4,000 units of the G-Wiz to buyers in multiple countries, Continue Reading
Venezuela’s Oil Industry Implosion Reaches Chevron
Massive blackouts in Venezuela in March and April have drastically reduced oil production at Chevron’s biggest oil joint venture in the country, Bloomberg reported on Thursday, citing data that it Continue Reading
Trump’s sanctions could knock out Venezuela oil production indefinitely
Venezuela will soon pass the point at which it will be unable to recover lost oil production if U.S. sanctions persist into next year, the federal government said on Wednesday. Continue Reading
Trump administration sidelines U.S. offshore drilling plan after court ruling
The Trump administration’s plans to expand offshore drilling are on hold after a March court ruling blocked drilling in the Arctic and Atlantic, Interior Secretary David Bernhardt told the Wall Continue Reading
Trump’s Offshore Oil-Drilling Plan Sidelined Indefinitely
The Trump administration’s proposal to vastly expand offshore oil and gas drilling has been sidelined indefinitely as the Interior Department grapples with a recent court decision that blocks Arctic drilling, Continue Reading
A Wave Of Clean Energy Policies Are Killing Coal
The Trump administration has done its best to promote coal, oil and gas at the federal level, but individual U.S. states continue to step up their ambition on renewable energy. Continue Reading
The Slow Death Of Californian Oil & Gas
Entrepreneurs in California were pioneers of the American oil industry in the 19 th and the beginning of the 20 th century. One of the oldest still producing oil fields Continue Reading
Anadarko Deal Would Put Occidental Next to Conoco
Occidental’s proposed Anadarko deal would put the company alongside ConocoPhillips in a peer group of two as a super-independent. Occidental Petroleum’s proposed Anadarko Petroleum deal would put the company alongside Continue Reading
Oil Majors Eye New Acquisition Targets In The Permian
Following the news that Chevron had agreed to pay a nearly 40 percent premium to acquire Anadarko Petroleum, investors quickly bid up the shares of other potential acquisition targets. As Continue Reading
Trump’s Removal Of This 100-Year Old Law Is Good News For Natural Gas
The president of the United States may remove a 1920 piece of legislation that bans any non-U.S. vessels from moving any cargo between two U.S. ports. The reason: an imbalance Continue Reading
Booming Oil & Gas Help Texas Exports Grow 3 Times Faster Than U.S. Average
The value of exports of oil and gas from Texas jumped by 45 percent, CNBC reports , citing data from trade research firm WISERTrade. The value of Texas’ petroleum and Continue Reading
Californians To See 1% Tax Added To Restaurant Bill To Fight Climate Change
Some Californians will soon see a new 1% fee added to their restaurant check as the Restore California Renewable Restaurants look to help fight climate change by offsetting the carbon Continue Reading
Barclays to exit British gas fracking industry
Barclays said it is exiting the British gas fracking industry after gas developer Third Energy, in which the bank owns a significant stake, agreed to sell its onshore gas activities Continue Reading
Germany, Poland, Slovakia halt oil imports via Russian pipeline over quality concerns
MOSCOW (Reuters) – Poland, Germany and Slovakia have suspended imports of Russian oil via a major pipeline, citing poor quality and triggering a rare crisis over supply from the world’s Continue Reading
Poland Suspends Russian Oil Intake On Contamination
Poland has shut down the flow of Russian crude oil via the Druzhba pipeline after traces of contamination were found, Reuters reports . An earlier report that Germany had also Continue Reading
Russia expects ‘clean’ Urals crude exports via Druzhba to resume Mon: report
Moscow — Receive daily email alerts, subscriber notes & personalize your experience. Register Now Russia has pledged to resolve a rare quality glitch with its Urals crude within days after Continue Reading
Russia to hold talks on fixing tainted oil supplies to Europe
Russia will hold talks with Poland, Belarus and Ukraine on Friday about how to solve a problem of polluted Russian oil being pumped through a major pipeline serving Europe and Continue Reading
Russia’s Gazprom to begin gas injection into China pipeline in Q3
Gas giant Gazprom plans to start injections of Russian gas into the 38 Bcm/year capacity Power of Siberia pipeline in the third quarter of 2019 ahead of first commercial flows Continue Reading
U.S. Oil Falls as Inventories Hit 18-Month High
U.S. oil prices declined Wednesday as domestic crude-oil inventories rose to an 18-month high and the International Energy Agency said global oil markets are “adequately supplied.” — West Texas Intermediate Continue Reading
Oil hovers near six-month peak as U.S. stockpile build counters supply fears
Oil prices steadied on Wednesday near six-month highs after data that showed U.S. stockpiles rose to their highest levels since October 2017, countering fears of tight supply resulting from OPEC Continue Reading
U.S. officials say global oil market ready for end to Iran crude exports
U.S. attempts to drive Iranian oil exports down to zero come against the backdrop of a global market that is sufficiently well supplied to avoid price disruptions, senior U.S. officials Continue Reading
Why This Rally In Oil Won’t Last
Oil prices took a breather mid-week after the U.S. saw a larger than expected increase in crude inventories. The market is still heading in a bullish direction, but the path Continue Reading
Iran’s Zarif warns U.S. of ‘consequences’ over oil sanctions, Strait of Hormuz
The United States must be prepared for consequences if it tries to stop Iran from selling oil and using the Strait of Hormuz, Iran’s Foreign Minister Mohammad Javad Zarif warned Continue Reading
Saudi’s Falih sees no need for swift output action after Iran oil waivers end
Saudi Arabia’s energy minister said on Wednesday he saw no need to raise oil output immediately after the United States ends waivers granted to buyers of Iranian crude, but added Continue Reading
New CEO of Algeria’s Sonatrach pledges to boost output, exports
Algerian state energy firm Sonatrach will focus on increasing production and export volumes to help develop the OPEC member country’s oil and gas-reliant economy, its newly-appointed head Rachid Hachichi said Continue Reading
Iran’s Top Diplomat Warns U.S. Against Oil Blockade, Offers Prisoner Swap
Iran’s foreign minister said Iran would continue to sell its oil despite expanded U.S. sanctions, and warned of unspecified consequences if the U.S. tried to block oil sales that go Continue Reading
A New Middle East Mega-War Is Unfolding Right Before Our Eyes
Iran is leading a new bloc , with Turkey and Qatar, intent on remaking the greater Middle East. The Iranian leadership recognizes that this drive might lead to a regional Continue Reading
Saudi Arabia’s Dream Of $85 Oil Is Closer Than Ever
Things are starting to look good financially for Saudi Arabia again – very good. The de facto OPEC leader and world’s largest oil exporter said today it posted a budget Continue Reading
Iran sanctions to have limited impact on forward crude prices: analysts
The decision taken by the US Government on April 22 to end the waivers given to countries on importing Iranian crude is likely to have limited impact on forward crude Continue Reading
Iraq gas production set to triple
Gas developments in Iraq will overtake oil projects in 2019, measured in resources sanctioned for development, according to analysis from Rystad Energy. New developments are on track to triple the country’s Continue Reading
Nigeria, Saudi Arabia Meet to Boost Refineries, Pipelines, Others
Nigeria’s petroleum downstream sub-sector, especially refineries, pipelines and others may witness a major overhaul following ongoing talks between the Federal Government and the Saudi authorities in Riyadh. The Minister of Continue Reading
Sabotage Of Nigerian Pipeline Causes Force Majeure
Nigerian firm Aiteo Oil Exploration and Production Company , has discovered that sabotage was the cause of the fire that caused Nigeria’s oil production to fall 8% per day, creating Continue Reading
Nigeria: Reps Okay Bill to Help Plug Revenue Leakages in Oil Sector
The House of Representatives, on Wednesday, passed a bill seeking to help plug leakages in government’s streams of income in the oil sector for second reading. This followed a motion Continue Reading
Venezuela’s April crude exports rise to 955,000 b/d after blackouts
Venezuela’s state-owned PDVSA is set to export 955,000 b/d of crude in April, up from 843,000 b/d in March, when several blackouts crippled export infrastructure, according to the company’s monthly Continue Reading
Opposition Leader Juan Guaido May Be On the Hook for Citgo “Theft”: Maduro
Disputed Venezuelan President Nicolas Maduro has publicly criticized the “theft” of its state-owned and US-based refining operations, Citgo, in a radio broadcast on Tuesday, adding that those responsible of this Continue Reading
Venezuela congress’ finance committee authorizes PDVSA 2020 bond payment
Venezuela’s opposition-controlled National Assembly’s finance committee on Wednesday authorized a $71 million interest payment on state-owned oil company PDVSA’s 2020 bond, which is backed by shares in its crown jewel Continue Reading
Warp factor: Asia’s LNG markets distorted by oil price surge
SINGAPORE (Reuters) – Asia’s liquefied natural gas market is being distorted as the cost of LNG bought under long-term contracts linked to oil prices jumps to double spot gas cargoes Continue Reading
US hopeful Asian importers can make smooth transition away from Iranian oil
Singapore — The United States believes the world oil market is well supplied to ensure supply stability, and Washington is working with both producers and importers to ensure smooth energy Continue Reading
Occidental offers $38 billion for Anadarko, topping Chevron
Occidental Petroleum Corp on Wednesday started the first takeover battle for a major oil company in years, offering $38 billion for Anadarko Petroleum Corp, a bid that topped a $33 Continue Reading
U.S. crude stockpiles jump on rise in imports: EIA
U.S. crude oil stockpiles rose last week to their highest in about a year and a half as imports increased, even as refiners sharply ramped up output ahead of the Continue Reading
Occidental Seeks to Buy Anadarko for $38 Billion, Topping Chevron’s Offer
Occidental Petroleum Corp. offered to buy Anadarko Petroleum Corp. for $38 billion, launching a potential bidding war for a company that agreed earlier this month to be purchased by Chevron Continue Reading