Product & Logistics Services is ceasing operations at its Monahans, Texas facility, resulting in the termination of 124 employees. Product & Logistics Services LLC (P&LS), a subsidiary of Schlumberger Limited, Continue Reading
U.S. refiners had a plan for 2020: use their complex operations to maximize profits by making products that would comply with new international laws capping sulfur content in shipping fuels. Continue Reading
The shale industry faces an uncertain future as drillers try to outrun the treadmill of precipitous well declines. For years, companies have deployed an array of drilling techniques to extract Continue Reading
Shareholders have been stepping up pressure on the world’s top oil companies to start addressing climate change risks and set emission reduction targets if the world is ever to achieve Continue Reading
It took Total’s chief executive and a small group of advisers just days to line up the French energy major’s biggest acquisition in almost two decades when it agreed to Continue Reading
Russian oil quality from the Baltic port of Ust-Luga was improving on Thursday but was still not good enough for refiners in Europe, with required standards expected to be reached Continue Reading
Russia’s Rosneft will load an extra crude oil cargo from the Pacific port of Kozmino on May 30-31 in addition to the initial loading plan, amid Russian oil export problems Continue Reading
In terms of oil and gas, post-Soviet nations are currently undergoing a consolidation phase that slowly brings back former partners that have fallen out in 2014-2016. Prices of both oil Continue Reading
Britain’s coastal communities may have to be relocated because of rising sea levels and the increased risk of flooding due to climate change, the chair of the Environment Agency has Continue Reading
Uncertainties about future global crude supply are likely to test a forecast for Brent crude prices to trade between $70/b to $75/b over the next few months, Goldman Sachs said Continue Reading
Oil prices fell on Thursday as an escalating trade battle between the United States and China outweighed upward pressure from a surprise decline in U.S. inventories of crude. Brent crude Continue Reading
Western integrated oil majors posted a mixed set of first-quarter earnings results, with most continuing to grow production and some proving resilient to the impact of lower oil and gas Continue Reading
After four months of decline, tightening the oil market considerably, OPEC’s collective crude oil production in April held relatively steady from March, rising just 30,000 b/d to 30.26 million b/d, Continue Reading
The United States and Iran continued to trade barbs on Wednesday over the Iranian nuclear deal and Iranian oil exports as the United States stands firm on its position that Continue Reading
Exactly a year after the United States withdrew from Iran nuclear deal, the Islamic Republic said on Wednesday that it is suspending some of its commitments under the agreement and Continue Reading
President Donald Trump on Wednesday ordered new sanctions on Iran, this time targeting the Islamic Republic’s export revenues from its industrial metals sector, and vowed to keep squeezing Tehran unless Continue Reading
Iran announced on Wednesday it was relaxing some curbs to its nuclear program, announcing steps that stop short of violating its 2015 deal with world powers for now, but threatening Continue Reading
France called on Iran on Wednesday to respect all its commitments after Tehran announced it was relaxing some curbs to its nuclear program, and warned against any action that would Continue Reading
Iraq will soon finalize a large-scale, long-term deal for the development of oil fields in the South with Exxon and PetroChina. The 30-year contract will involve investments of US$53 billion Continue Reading
Tiny gas-rich Qatar is pushing through with its plans to solidify its top spot as the world’s largest liquefied natural gas (LNG) player both in terms of liquefaction capacity and Continue Reading
Arab residents of the oil-rich Deir Ezzor area in Syria have been protesting for weeks against the U.S.-backed Kurdish forces that control the region east of the Euphrates river, with Continue Reading
The Cabinet threw political weight behind the Southern Iraq Integrated Project, injecting momentum into negotiations over a massive infrastructure deal that is critical to Iraq’s production and export growth. Iraq’s Continue Reading
Oil prices have fallen sharply on fears of a global economic slowdown, but the markets are overlooking the possibility of a serious outage in Libya as civil war drags on. Continue Reading
Turkey said that it plans on drilling for natural gas in Cypriot waters, raising tension in the region and drawing rebukes from the European Union and the United States. The Continue Reading
Saudi Aramco, which has an ambitious plan to grow its natural gas business, is considering investing in the Marcellus shale gas assets of Norway’s Equinor in what would be the Continue Reading
Iraq oil minister Thamer Ghadhban said on Wednesday he expects his ministry to sign an initial deal with Exxon Mobil and PetroChina “very soon”, but did not give a specific Continue Reading
Saudi Arabia is expected to keep its crude exports below 7 million barrels per day in June, while output will stay under its production quota under a global deal to Continue Reading
Nigeria’s deepwater operations have generated over $180 billion following a capital investment of more than $65billion made by the players in the oil and gas industry, the Group Managing Director, Continue Reading
U.S. President Donald Trump said on Wednesday he would be happy to keep tariffs on Chinese imports, prompting Beijing to threaten retaliation, as the world’s two largest economies prepared to Continue Reading
The U.S. Trade Representative’s office filed paperwork to formally raise tariffs to 25% from 10% on about $200 billion a year of Chinese imports effective on Friday, carrying through on Continue Reading
China imported around 800,000 bpd of crude from Iran in April—the highest amount that Iran’s top oil customer purchased since August last year—as Chinese refiners rushed to buy Iranian oil Continue Reading
State-owned PetroChina has shipped gasoil, for the first time ever, on a 100,000 dwt vessel to Italy in Europe on May 5, according to its company-run media China Petroleum Daily Continue Reading
U.S. crude oil stockpiles fell unexpectedly last week, the Energy Information Administration said on Wednesday, and strong gasoline demand could point to additional drawdowns in coming weeks as driving season Continue Reading
U.S. energy company Exelon Corp said Wednesday it will shut the last reactor at the Three Mile Island power plant, site of the worst nuclear accident in U.S. history, on Continue Reading
ExxonMobil is promising up to $1oom over the next 10 years to US government laboratories to research technologies that could cut greenhouse gas emissions, as it seeks to show that Continue Reading
The U.S. State Department will complete an environmental impact review for the now notorious US$8-billion Keystone XL oil pipeline even if a federal appeals court dismisses the November 2018 ruling Continue Reading
US crude inventories fell 3.96 million barrels last week, as a decline in imports outpaced lower crude exports and refinery runs, an analysis of Energy Information Administration data showed Wednesday. Continue Reading
The Canadian government is likely to proceed with expansion of the Trans Mountain oil pipeline when it announces its final decision on the conduit next month, officials familiar with the Continue Reading
94 percent of U.S. offshore resources are not available for investment. Ninety-four percent of the United States’ offshore resources are not available for investment. That’s what Eric Oswald, vice president Continue Reading
Driven by a risk-taking chief executive, Occidental Petroleum Corp. is trying to swallow a competitor close to its own size, outmaneuvering one of the world’s oil giants in the process. Continue Reading
Chevron is playing its cards close to its chest when it comes what’s next on the Anadarko deal. Chevron is playing its cards close to its chest when it comes Continue Reading
Triangle Petroleum Corp., which has interests in North Dakota’s energy and commercial real-estate markets, filed for bankruptcy Wednesday with a reorganization plan under which bondholder J.P. Morgan Securities LLC will Continue Reading
North America’s energy-focused private equity firms just saw a five-year low in fund closings and the lowest amount of total capital raised for energy investment since early 2016. During the Continue Reading
Chevron is arguably the best of the integrated super-major oil companies. For the past 20 years, Chevron has delivered superior returns to shareholders, outperforming the S&P 500 for most of Continue Reading
Researchers from the University of Kentucky and the San Francisco County Transportation Authority have determined that, contrary to the concept and vision, transportation network companies such as Uber and Lyft Continue Reading
Trading houses Vitol, Glencore and Trafigura are caught in the crossfire between Russian oil producers and Western buyers, which have refused to take contaminated Russian crude bought by the traders. Continue Reading
Dyson urges petrol car ban by 2030 Patents reveal design for off-road electric vehicle Some costs have overrun but Dyson says it will stick to £2.5bn plan Sceptics believe 2021delivery Continue Reading
Crude oil futures were higher during mid-morning trade in Asia Wednesday, finding support from the US Energy Information Administration’s report which said replacement for Iranian barrels following US sanctions may Continue Reading
The American Petroleum Institute (API) reported a build in crude oil inventory of 2.81 million barrels for the week ending May 3, coming in over analyst expectations of a 744,000-barrel Continue Reading
Oil prices rose on Wednesday as U.S. sanctions on crude exporters Iran and Venezuela as well as ongoing supply cuts by producers have left markets tight just as crude imports Continue Reading
