For the first time ever, Oilprice.com is releasing its annual Top 50 Oil & Gas Companies report to readers. This 5-part series includes an in-depth financial and geopolitical analysis of Continue Reading
Oil prices closed at their lowest in over a month on Tuesday as renewed doubts over a U.S.-China trade deal stoked concerns over global growth and on expectations that U.S. Continue Reading
Global liquid fuels Brent crude oil spot prices averaged $71 per barrel (b) in April, up $5/b from March 2019 and just below the price in April of last year. Continue Reading
The Offshore Technology Conference (OTC) in Houston, Texas celebrates its 50th birthday this week, begging the question – what will the next 50 years hold for the offshore market? Luckily, Continue Reading
With US waivers expired, Iranian crude is likely to quickly fade from the world market and, while replacement barrels are coming, they may not arrive for months, the US Energy Continue Reading
The global economy would be in serious trouble if it weren’t for the rapid growth of U.S. shale oil production. Since the 2008 financial crisis, U.S. shale oil production has Continue Reading
Renewable energy deployment stalled out last year, raising alarm bells about the pace of the clean energy transition. In 2018, total deployment of renewable energy stood at about 180 gigawatts Continue Reading
Iraq is close to signing a $53 billion, 30-year energy agreement with Exxon Mobil and PetroChina, Prime Minister Adel Abdul Mahdi said on Tuesday, denying any link between the mega-project Continue Reading
Iraq has been at the center of many a Middle East conflict in the region’s contemporary history. The country has endured years of violence since the U.S. led invasion in Continue Reading
Saudi Arabia has increased its official selling prices for all crude oil grades for Asian buyers with delivery in June as a supply crunch resulting from U.S. sanctions on Iran Continue Reading
Even as Saudi Arabia’s oil production reached record levels, with total output hitting 11.1m barrels per day (bpd) in November 2018, the country is boosting levels of investment to ensure Continue Reading
Future growth at Iraq’s largest oil field hinges on unresolved plans for meeting the project’s massive demand for new water supplies. Iraq’s largest oil field, accounting for nearly one-third of Continue Reading
Iran said it had started scaling back parts of its commitments under its 2015 nuclear deal on Wednesday and threatened to do more if world powers did not protect it Continue Reading
Top oil exporter Saudi Arabia gave assurances to Azerbaijan that it would not take any unilateral decisions on the global oil deal between OPEC and its allies until June, Azerbaijan’s Continue Reading
Iran said Wednesday it would stop complying with some of its commitments under the 2015 nuclear deal, escalating tensions with the U.S. and moving closer to a breakdown of the Continue Reading
One key foreign policy goal of the current U.S. government is to initiate regime change in Iran by crippling its economy to such a degree that popular unrest removes the Continue Reading
Iraq has been at the center of many a Middle East conflict in the region’s contemporary history. The country has endured years of violence since the U.S. led invasion in 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. Iraqi Continue Reading
The United States refineries have upped their imports of Iraqi, Nigerian, Brazilian, and Angolan crude oil, with May volumes, double that of April levels, data from Refinitiv Eikon has shown. Continue Reading
Brazil’s Petroleo Brasileiro SA drew plaudits from investors last month for announcing a plan to sell off eight of its refineries in a process the company says could fetch some Continue Reading
Venezuela’s National Assembly, led by opposition leader Juan Guaido, on Tuesday authorized an interest payment on an overdue bond, in an apparent bid to keep the country’s crown jewel overseas Continue Reading
China’s crude oil imports in April unexpectedly surged to a record despite refinery maintenance outages and tepid domestic fuel demand, customs data showed, as state-run refiners built up stocks of Continue Reading
China’s crude oil imports in April hit a record high of 10.68 million b/d, rebounding from 9.3 million b/d in March, preliminary data from the General Administration of Customs showed Continue Reading
U.S. crude oil production is expected to rise by 1.49 million barrels per day (bpd) in 2019 to average 12.45 million bpd, the U.S. Energy Information Administration (EIA) said on Continue Reading
General Motors Co.’s Cruise division has landed another $1.2 billion in outside financing, bringing the value of the driverless-car developer to $19 billion. San Francisco-based Cruise said Tuesday it received Continue Reading
US coal production in 2019 will total 699.8 million st, the US Energy Information Administration forecast Tuesday, increasing its projection 2.3% from April. EIA’s May Short-Term Energy Outlook shows 2019 Continue Reading
Highlights Chevron, Occidental in bidding war since early April Occidental revises bid Sunday, aggress to deal with Total Dubai — The bidding war between Occidental Petroleum and Chevron to acquire Continue Reading
After a warmer-than-normal April across much of the US trimmed the use of natural gas for space heating, the US Energy Information Administration on Tuesday forecast that gas storage inventories Continue Reading
Dismantling an oil and gas platform in the Gulf of Mexico is becoming even more challenging. Hardly an easy proposition to begin with, dismantling an offshore oil and gas platform Continue Reading
Occidental Petroleum Corp. Chief Executive Officer Vicki Hollub is on the cusp of winning a David versus Goliath bidding war that has captivated the oil industry. After making a series Continue Reading
Most people in the U.S. need to pay federal income taxes – but dozens of the most profitable U.S. corporations do not. A recent report by the Institute on Tax 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
BP, the biggest oil producer in the U.S. Gulf of Mexico, has just announced that it is expanding the development at one of its fields, unlocking additional production from its Continue Reading
You have to hand it to President Trump. He’s increasingly becoming the most indecisive president in U.S. history. His apparent and abrupt about-face on Sunday to increase tariffs on Chinese Continue Reading
President Trump’s administration has been reluctant to use its power to protect species threatened with extinction, as scientists around the globe warn of a deepening crisis in the loss of Continue Reading
BP’s head of digital upstream Rob Kelly says work should be just as enjoyable as being at home. Rob Kelly, head of upstream digital for BP, had just come from Continue Reading
Crude oil futures were stable during mid-morning trade in Asia Tuesday, as market participants mostly stayed on the sidelines eying fresh cues amid the re-emergence of US-China trade tensions. At Continue Reading
Oil futures edged higher in volatile trade on Monday as rising tensions between the United States and Iran buoyed prices after they touched a one-month low following U.S. President Donald Continue Reading
Trump’s trade war may have depressed oil prices at the start of the week, but the U.S.’ decision to send warships to the Middle East is an ominous sign of Continue Reading
Volatile crude prices and weak refining margins led to lower earnings at all five oil supermajors in the first quarter of 2019, suggesting that Big Oil shouldn’t stay complacent several Continue Reading
Oil prices sank on Monday morning after President Trump decided to reignite the trade war with China just before it was supposed to be resolved. Trump took to twitter to Continue Reading
Humans are transforming Earth’s natural landscapes so dramatically that as many as one million plant and animal species are now at risk of extinction, posing a dire threat to ecosystems Continue Reading
European diplomats warned Monday that Iran is preparing to abandon parts of a landmark nuclear deal in response to new U.S. sanctions, a step that risks inflaming tensions after the Continue Reading
Senior American officials said on Monday that new threats by Iran against United States troops in Iraq were behind the sudden deployment of an aircraft carrier strike group and Air Continue Reading
Iran on Monday strongly suggested that it was about to reduce compliance with the landmark 2015 nuclear deal because of sanctions reimposed by President Trump when he repudiated the Obama-era Continue Reading
Israel’s Energy Minister Yuval Steinitz ordered on Sunday that the country’s only operating natural gas field, the offshore Tamar field, be closed as a precaution after violence between militants in Continue Reading
In its biggest provocation yet, Turkey has sent its Fatih drilling ship into Cypriot waters, launching drilling operations that have prompted a response from the U.S. and a Greek Cypriot Continue Reading
U.S. refiners have turned to several lesser-used oil suppliers in the wake of U.S. sanctions that restricted usual providers of widely-used grades as they gear up for peak driving season. Continue Reading
A key oil pipeline and a logistics base in Nigeria’s oil-rich Niger Delta have been impacted by a shutdown and protests, the operator of the facilities said on Monday, in Continue Reading
The Nigerian government is seeking about $3.5 billion in damages from oil giants Eni and Shell over the controversial Malabu oil deal, PREMIUM TIMES has gathered. The new claim is Continue Reading
