South Sudan, South Africa Ink Oil Deal
South Sudan and South Africa have inked an exploration and production sharing deal for oil in a sign that South Sudan is well on its way to put its best Continue Reading
How can Venezuela move forward?
THE FAILURE of an uprising against Venezuela’s authoritarian regime last week has left opposition leaders and their foreign supporters debating what went wrong. Did the generals and other senior regime Continue Reading
Panama Canal Authority to tighten draft restriction to 43 feet
The Panama Canal Authority announced a new maximum draft restriction of 43 feet, or 13.11 meters, the sixth since January, in the Gatun Lakes, which will come into effect May Continue Reading
Mexico Stanches Flow of Stolen Fuel
Mexico’s government is notching some successes in its battle against the country’s fuel thieves, dealing a blow to organized crime and restoring lost revenues to financially troubled state-run oil company Continue Reading
Venezuela crisis: malaria spreads as economy implodes
There was a time when Venezuela led Latin America in the battle against malaria. No longer. The collapse of the country’s economy and health system, combined with a boom in Continue Reading
Trump Advisers Accuse China of Reneging on Trade Commitments
Doug Mills/The New York Times WASHINGTON — President Trump’s top economic advisers on Monday accused China of reneging on previous commitments to resolve a monthslong trade war and said Mr. Continue Reading
China’s Hengli boosts Saudi oil buys as new refinery ramps up
China’s privately owned Hengli Petrochemical has increased its Saudi Arabian crude imports for April and May as it prepares to bring a new refinery in northeastern China to full capacity, Continue Reading
After latest threats, Chinese see Trump as a Marvel villain out to destroy them
President Trump is, according to the Chinese Internet, a Marvel supervillain who can wipe out half the universe with a snap of his fingers. But in Trump’s case, it’s the Continue Reading
China Set To Defy U.S. Sanctions On Iran
Tensions between Washington and Beijing could soon peak if China positions itself to defy President Trump’s repeal of Iranian oil sanctions waivers. On Saturday, noted Chinese analysts said that China Continue Reading
What Explains China’s Thirst For Saudi Oil
China stepped up purchases of Saudi oil in the first four months of this year as a private refiner is raising crude intake from the Kingdom that has secured term Continue Reading
Occidental says its only option was to boost cash piece of Anadarko bid
Occidental Petroleum Corp said on Monday its latest bid to take over Anadarko Petroleum Corp was designed to make sure Anadarko’s board considers its offer superior to one from Chevron Continue Reading
BP to boost Gulf of Mexico spending as shale-focused rivals pull back
BP Plc on Monday announced new production units in the Gulf of Mexico, enhancing its standing as the largest producer there at a time when rival global oil majors are Continue Reading
Natural Gas Storage Dashboard
This week’s net injections into working natural gas in the Lower 48 states totaled 123 Bcf, the earliest point ever in the refill season for triple-digits Net injections into working Continue Reading
Oxy Offers 80% Cash For Anadarko
Occidental Petroleum has updated the terms of its bid for Anadarko by saying it will pay 80 percent of the US$38 billion it is offering in cash, negating the need Continue Reading
Refinery margin tracker: US cracking margins supported by strong gasoline demand
US cracking margins gained last week as strong economic indicators supported rising gasoline demand, aided by healthy export demand for refined products, an analysis by S&P Global Platts showed Monday. Continue Reading
Electrify America launches EV charging app, membership options; plans ~20% price reduction off current rates
Electrify America launched a mobile app, available for both Android and iPhone. The company’s first app allows users to manage the entire charging session on their phone, increasing convenience for Continue Reading
BP Approves Thunder Horse Expansion in GOM
BP has approved the Thunder Horse Expansion Phase 2 project in the deepwater Gulf of Mexico, which should add 50,000 boepd. BP has approved the Thunder Horse Expansion Phase 2 Continue Reading
Oxy Jazzes Up Anadarko Offer, Makes $8B Total Deal
Oxy revises its offer for Anadarko and enters into an $8.8 billion agreement with Total in connection with the deal. Occidental Petroleum Corporation (Oxy) revealed Sunday that it has jazzed Continue Reading
Anadarko backs Occidental’s revised bid, pressuring Chevron to respond
HOUSTON (Reuters) – Anadarko Petroleum Corp’s board on Monday backed a $38 billion bid from Occidental Petroleum Corp, adding pressure on rival Chevron Corp to raise its offer or walk Continue Reading
The Energy 202: Trump administration heeds oil and gas industry calls to remove protections for imperiled beetle
The Trump administration said it plans to weaken protections for a beetle facing a threat of extinction from climate change, a move welcomed by oil and natural gas drillers lobbying Continue Reading
Anadarko Says Occidental Now ‘Superior’ Offer to Chevron
Anadarko Petroleum Corp. said Monday that a $38 billion bid by Occidental Petroleum Corp. was superior to an offer it accepted from Chevron Corp., raising the stakes in the battle Continue Reading
US Boosts Oil Imports from Iraq, Nigeria, Brazil, Angola
US 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 showed on Monday. Oil Continue Reading
DOE: US plug-in vehicles consumed nearly 3 TWh of electricity in 2018
The amount of electricity consumed by plug-in electric vehicles (PEV) in the United States has nearly doubled in the last two years—from 1.44 terawatt-hours in 2016 to 2.85 terawatt-hours in Continue Reading
EU Promises To Double U.S. LNG Imports Within 5 Years
The European Union has promised to double its intake of U.S. liquefied natural gas over the next five years with the annual total reaching the equivalent of 8 billion cubic Continue Reading
Crude oil futures plunge after Trump threatens to raise tariffs
Crude oil futures slumped in mid-afternoon trade Monday after US President Donald Trump threatened to raise tariffs from 10% to 25% this Friday. At 2:03 pm Singapore time (0603 GMT), Continue Reading
Oil prices slump after Trump’s tariff threats against China
Oil prices tumbled on Monday after U.S. President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s Continue Reading
Trump blows up trade complacency, commodities to feel pain: Russell
U.S. President Donald Trump has just given commodity markets a reminder that stormy waters can blow up quite quickly even if the voyage ahead was looking like smooth sailing. Investors Continue Reading
Global economy defies doomsayers in first quarter
Less than a month ago in the imposing setting of the IMF’s HQ2 building in Washington DC, Gita Gopinath, its new chief economist, had a bleak message for the world. Disappointing Continue Reading
Libya’s Haftar orders troops to fight harder during Ramadan
Eastern Libyan forces commander Khalifa Haftar urged his troops trying to take Tripoli to battle harder and teach their enemies a lesson because the holy Muslim month of Ramadan that Continue Reading
Iran using all resources to sell oil in ‘grey market’: deputy minister
Iran has mobilized all its resources to sell oil in a “grey market”, bypassing U.S. sanctions that Tehran sees as illegitimate, state media quoted Deputy Oil Minister Amir Hossein Zamaninia Continue Reading
Iraq oil minister says won’t decide unilaterally to boost output
Iraq’s oil minister said on Sunday his country was committed to an OPEC-led crude output cut, which has supported prices and would not decide unilaterally on any production boost to Continue Reading
Egypt expects giant solar park to be fully operational in 2019
Egypt expects the 1.6 gigawatt solar park it is building in the south of the country to be operating at full capacity in 2019, the investment ministry said in a Continue Reading
U.S. deploying carrier, bombers to Middle East to deter Iran: Bolton
The Trump administration is deploying a carrier strike group and bombers to the Middle East in response to troubling “indications and warnings” from Iran and to show the United States Continue Reading
U.S. says deeply concerned by Turkey’s intent to drill off Cyprus
The United States is deeply concerned by Turkey’s announced intentions to begin offshore drilling operations in an area claimed by Cyprus as its exclusive economic zone, a State Department spokesperson Continue Reading
Israel to resume Tamar gas field production after Gaza truce
Israel will resume gas production from offshore Tamar field after a ceasefire brought an end to a surge in violence in the Gaza Strip, the energy ministry said on Monday. Continue Reading
Middle East Oil Giants Are About To Upend Oil Trading
The summer of 2019 could be a watershed moment in global commodity markets. The next couple of months, could see a major reshuffle of global commodity trade and financial markets Continue Reading
Protesters block Aiteo’s Nembe oil facility in Nigeria
Protesters in Nigeria’s Nembe region barricaded the logistics base of oil company Aiteo on Sunday and briefly disrupted its operations, the company said. Aiteo had just reopened its Nembe Creek Continue Reading
Trump Says He Will Increase Tariffs on $200 Billion of Chinese Goods
President Trump threatened to drastically ramp up U.S. tariffs on Chinese imports, an 11th-hour twist that puts in doubt whether the two sides can reach a trade deal this week. Continue Reading
This World-Class Shale Frontier Just Opened Up
A region in Australia has recently lifted a moratorium on fracking. Local companies aim to begin this year exploration of what they believe are huge shale gas reserves, potentially capable Continue Reading
Indonesia Struggles To Keep Investments As Shell Looks To Exit LNG Project
Shell is seeking to sell its minority stake in a liquefied natural gas (LNG) project in Indonesia, hoping to get US$1 billion for its 35-percent interest in the US$15-billion project, Continue Reading
Total backs Occidental’s Anadarko bid with deal to buy assets
France’s Total SA said on Sunday it has agreed with Occidental Petroleum Corp to acquire the African assets of Anadarko Petroleum Corp for $8.8 billion, should the two U.S. oil Continue Reading
Occidental tweaks $38 billion Anadarko bid to remove shareholder vote
Occidental Petroleum Corp increased the cash component of its $38 billion bid to acquire Anadarko Petroleum Corp on Sunday, removing a requirement for any deal to receive the approval of Continue Reading
Electric Fracking Could Take Over The Permian
Shale production in West Texas continues to boom–so much so that shale oil and gas producers in the Permian Basin have more than they know what to do with. As Continue Reading
Russia To Cut More Oil Production As Exports Restricted
Russia’s oil production will be cut by another 1 million barrels per day over the next week after its oil exports were restricted due to contamination issues, according to Reuters Continue Reading
Europe/US team: transitioning to a low-carbon world will create new rivalries, winners and losers
In an opinion piece in the journal Nature , a team from the US and Europe suggests that the transition to a low-carbon world will create new rivalries, winners and Continue Reading
Oil edges up after strong economic data, but ends week lower
Oil prices inched up on Friday as strong U.S. economic data boosted demand sentiment and as production losses in sanctions-hit Iran and Venezuela tightened the market. Still, oil futures recorded Continue Reading
Sliding Oil Rig Count Props Up Oil Prices
The the number of active oil and gas rigs fell slightly in the United States this week according to Baker Hughes, after two large drops in the two previous weeks, Continue Reading
Oil Market Is Set To Become Very Tight Later This Year
Brent Crude futures prices for later this year suggest that the oil market is undersupplied, despite recent rises in U.S. crude oil inventories that sent spot oil prices plunging in Continue Reading
Has The Oil Rally Reached Its Limit?
Despite various bullish geopolitical and fundamental factors, bearish sentiment appears to have reentered the market after a particularly long rally. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click Continue Reading
Scientists Warn the UN of Capitalism’s Imminent Demise
Capitalism as we know it is over. So suggests a new report commissioned by a group of scientists appointed by the UN Secretary-General. The main reason? We’re transitioning rapidly to Continue Reading