Saudi Aramco bets on oil supply to Europe, trading expansion
Saudi Aramco aims to boost its oil supply to Europe by 300,000 barrels per day (bpd) within the next two years as it expands its trading operations there with an Continue Reading
Saudi Arabia shuts oil pipeline after attack in latest sign of rising Middle East tensions
Highlights Houthis claim drone attack on pipeline East-West line pumps around 2 million b/d Tensions rising over Iran sanctions Tensions over threats to oil flows from the Middle East escalated Continue Reading
Iran Accuses U.S. of Framing It for Tanker Sabotage to Provoke Conflict
Attacks on oil tankers and facilities in the Persian Gulf set the Middle East on edge, as Iranian officials on Tuesday accused officials in the Trump administration of trying to Continue Reading
Iranian Official: Europe Can Still Buy Iran’s Oil
European firms can still buy oil from Iran as some companies don’t have interests in the United States and aren’t concerned about the U.S. sanctions on Tehran, former Iranian foreign Continue Reading
U.S. Orders Partial Evacuation of Embassy in Baghdad
The State Department ordered a partial evacuation of the United States Embassy in Baghdad on Wednesday, responding to what the Trump administration said was a threat linked to Iran, one Continue Reading
Eni Strikes More Oil In Angola’s Deep Offshore
Italy’s oil and gas major Eni said on Tuesday that it had made a new discovery in Angola’s deep offshore estimated to contain up to 250 million barrels of light Continue Reading
Nigeria: Shell’s ‘All On’ Advises Nigeria to Heavily Tax Petrol, Diesel Generators
All On, which is a seeded company of Shell, has advised Nigeria to initiate and implement a graduated and weighty tax system on the production, assemblage and importation of power Continue Reading
Analysis: Policy vacuum ahead of polls clouds India’s oil demand growth
India’s oil demand growth has slowed to a trickle on the back of sluggish sale of transport fuels, as consumers defer vehicle purchases until clarity on new taxes and policies Continue Reading
Mexico’s rising oil nationalism faces debt-rating crisis
Mexican President Andres Manuel Lopez Obrador took office in December vowing to revive state-owned energy company Pemex and put the brakes on foreign investment to give the public a bigger Continue Reading
Mexico Approves Stimulus Measure To Boost Oil Production By Up To 400,000 Bpd
The Mexican government has approved a fiscal stimulus measure that could see Pemex raise oil production by as much as 400,000 bpd, S&P Global Platts reports , quoting the country’s Continue Reading
China’s retail sales growth slumps to 16-year low as trade war risks rise
China reported surprisingly weaker growth in retail sales and industrial output for April on Wednesday, adding pressure on Beijing to roll out more stimulus as the trade war with the Continue Reading
No easy options for China as trade war, U.S. pressure bite
China is running out of options to hit back at the United States without hurting its own interests, as Washington intensifies pressure on Beijing to correct trade imbalances in a Continue Reading
China’s Economy Was Losing Steam Even Before Trump’s New Tariffs
BEIJING—China’s economic activity cooled across the board last month, undoing a brief surge earlier in the year and raising questions about the economy’s vitality even before higher U.S. tariffs start Continue Reading
Drought hit Australia to import wheat for first time in over a decade
Australia will import foreign-grown wheat for the first time since 2007 following an approval issued by the Department of Agriculture and Water Resources late Tuesday. The permit issued is for Continue Reading
African swine flu impact spreads over Chinese economy, global commodity prices
Share Bacon could soon be off the fried breakfast menu. African swine flu is sweeping across South East Asia and threatening to spread even further after decimating some pig farmers Continue Reading
CHINA DATA: April crude throughput hits a record high of 12.73 mil b/d
China’s refinery crude throughput rose 5.1% year on year to 52.1 million mt, or 12.73 million b/d in April, a record high on barrel per day basis, preliminary data released Continue Reading
Rising U.S. oil output helping fill gap left by Iran, Venezuela: IEA
The world will require very little extra oil from OPEC this year as booming U.S. output will offset falling exports from Iran and Venezuela, the International Energy Agency said on Continue Reading
U.S. Births Fall to Lowest Rates Since 1980s
The number of babies born in the U.S. last year fell to a 32-year low, deepening a fertility slump that is reshaping America’s future workforce. About 3.79 million babies were Continue Reading
ConocoPhillips will not chase expensive Permian deals, CEO says
ConocoPhillips Chief Executive Officer Ryan Lance on Tuesday repeated a pledge to restrain spending, saying the U.S. oil producer would not be drawn into pricey mergers and acquisitions. ConocoPhillips plans Continue Reading
“Wake the **** Up!” Bill Nye Says About Climate Change
“The planet’s on fire,” were some of the milder words that Bill Nye The Science Guy used in HBO’s “Last Week Tonight With John Oliver”, to describe his thoughts on Continue Reading
Apache Bets Big on Permian Gas Liquids | Rigzone
A ride through the Permian Basin’s little-drilled southwest corner looks a bit like the rest of the shale patch. Mesquite dots the dry landscape, and bumpy oilfield roads link well Continue Reading
Scientists just got closer to making nuclear fusion work
Proponents of nuclear fusion see it is as a clean and virtually limitless energy source that could power the future. But while researchers are confident they can make it work, Continue Reading
Cameron LNG export facility starts up in Louisiana
Sempra Energy began production Tuesday at Cameron LNG, one of three North American liquefaction projects that the domestic electricity and natural gas provider is counting on to make it a Continue Reading
Russia’s Transneft blames oil firms for contamination, no easy fix in sight
Russian pipeline monopoly Transneft said on Tuesday that oil producing firms were to blame for the recent contamination of an export pipeline, as sources said there was no quick fix Continue Reading
The Fusion Reactor Next Door
On a Friday afternoon, a small group of scientists gathered in front of a bank of computer screens near a Ping-Pong table in a warehouse close to Britain’s Oxford University. Continue Reading
Russia Could Take Hold Of China’s Entire Gas Market
As the trade war between the U.S. and China intensifies, with an increase in tariffs on some $200 billion worth of Chinese goods from 10 percent to 25 percent and Continue Reading
US Senators Seek Sanctions On Nord Stream 2 Through New Legislation
A group of US senators on both sides of the aisle is set to introduce a bill that will seek to sanction the Nord Stream II gas pipeline, according to Continue Reading
It was 84 degrees near the Arctic Ocean this weekend as carbon dioxide hit its highest level in human history
Carbon dioxide levels from approximately 1750 to present. (Scripps Institute of Oceanography) Over the weekend, the climate system sounded simultaneous alarms. Near the entrance to the Arctic Ocean in northwest Continue Reading
Trade War Escalation Looms Large Over Oil Markets
The U.S.-China trade war has now officially entered a new phase, and neither side is showing any sign of backing down. The Trump administration followed through on hiking tariffs on Continue Reading
Oil prices mixed as hope lingers for flagging U.S.-China talks
Oil was mixed on Tuesday as tensions in the Gulf appeared to stop short of a military showdown and both sides in the U.S.-China trade talks sounded conciliatory notes, signaling Continue Reading
Oil prices fall with Wall Street on trade war, give back early gains
Oil futures fell on Monday with Wall Street, as the negative turn in the U.S.-Chinese trade talks spooked investors, who had sent oil higher in early trade on concerns about Continue Reading
Tight Oil Markets Could Be About To See A ‘Violent’ Price Spike
Supply disruptions in the Middle East on top of an already tight crude market could send oil prices violently upward, according to Rystad Energy. Two Saudi Arabian oil tankers were Continue Reading
Falling renewables investment stalls Paris climate goals
The world is moving in the opposite direction of the Paris climate pact goals, with investment in renewable energy falling for the second consecutive year in 2018 and spending on Continue Reading
Shell conducts 19 successful VLSFO trials with shipowners as IMO 2020 looms
Global oil major Shell on Monday said it had carried out 19 successful trials of the 0.5% sulfur fuel oil with shipowners at key ports globally, and will be carrying Continue Reading
Oil supply crunch to test OPEC’s spare capacity
Oil production capacity could fall to under one percent of global oil demand by the end of the year if OPEC compensates falling production from Iran and Venezuela, leaving oil Continue Reading
Iranian lawmaker blames ‘Israeli mischief’ for tanker attacks off UAE coast
The tanker attacks off the coast of the United Arab Emirates were “Israeli mischief,” an Iranian parliamentary spokesman said on Tuesday, according to the Islamic Republic News Agency (IRNA). “The Continue Reading
U.S. Says Iran Likely Behind Ship Attacks
An initial U.S. assessment indicated Iran likely was behind the attack on two Saudi Arabian oil tankers and two other vessels damaged over the weekend near the Strait of Hormuz, Continue Reading
White House Reviews Military Plans Against Iran, in Echoes of Iraq War
At a meeting of President Trump’s top national security aides last Thursday, Acting Defense Secretary Patrick Shanahan presented an updated military plan that envisions sending as many as 120,000 troops Continue Reading
Saudi Tanker Attack Reveals Oil Market Weakness
Oil prices jumped on Monday on news that two Saudi oil tankers were supposedly attacked near the Persian Gulf, raising fears that supply may be at risk. Two Saudi oil Continue Reading
Iran insists on ramping up oil sales to stay in nuclear pact: sources
Iran insists on exporting at least 1.5 million barrels per day (bpd) of oil, triple May’s expected levels under U.S. sanctions, as a condition for staying in an international nuclear Continue Reading
Can Iraq rebuild its economy?
Iraq is looking to strengthen its economy after decades of war, sanctions, sectarian division and the rise of the Islamic State of Iraq and the Levant ( ISIL or ISIS). Continue Reading
The Battle For Control Over Iraq’s Oil
Iraq regards the U.S.’s refusal to extend waivers for countries importing oil from Iran as a tacit endorsement for it to pump its own oil to the maximum. This dovetails Continue Reading
Angola: Sonangol Reshuffle Puts Anti-Graft Campaign Into The Spotlight
The head of state energy giant Sonangol is replaced just as the company plans extensive asset divestments. There is ample precedent indicating that Angola?s new ruling elite is seeking to Continue Reading
India Not Rushing To Buy Extra Saudi Oil To Offset Lost Iranian Supply
Just one Indian refiner has agreed to buy additional crude oil supply from Saudi Arabia to compensate for the loss of Iranian barrels, as India’s firms have been looking for Continue Reading
Guaido Seeks U.S. Military Help To Overthrow Maduro
Juan Guaido, the leader of the Venezuelan opposition, has instructed his envoy to the United States Carlos Vecchio to start talks with the U.S. military for help in overthrowing the Continue Reading
Pemex Secures $8B Loan to Avoid Junk Status
Mexico moved to bolster investor confidence in its embattled state oil company, announcing an unprecedented $8 billion syndicated loan along with new tax breaks for the energy producer. Petroleos Mexicanos Continue Reading
Doomed From The Start: Mexico’s Oil Refinery To See Cost Overruns
Mexico’s newest oil refinery project is set to exceed the planned budget—and in a big way—according to Moody’s cited by Reuters. The massive undertaking—by Mexico itself, no less—will most likely Continue Reading
U.S. prepares to slap tariffs on remaining Chinese imports, which could add levies on roughly $300 billion in additional goods
The United States and China traded blows on Monday in the latest escalation of their tariff war, unnerving Wall Street and threatening to draw American consumers into the fray for Continue Reading
Trump plans to meet Xi after China hits U.S. with new tariffs
U.S. President Donald Trump said on Monday he would meet with Chinese President Xi Jinping next month and that he expected their discussions would be “very fruitful,” as the trade Continue Reading
U.S. liquefied natural gas shipments to China face mounting tariffs
China said on Monday it would raise tariffs on liquefied natural gas (LNG) imports from the United States amid a series of additional levies, a move that could further reduce Continue Reading