The new Alberta government has enacted a law enabling it to restrict the flow of oil and gas to neighboring British Columbia, raising the stakes in a spat between Canada’s Continue Reading
After historic floods devastated Midwestern agricultural states this spring, some fund managers are evaluating how climate change will affect the long-term value of companies that make or sell products ranging Continue Reading
Magellan Midstream Partners LP believes a proposed Midland origin point will attract sufficient commitments from shippers to proceed with a long-haul crude pipeline from the U.S. oil storage hub in Continue Reading
Summary of Weekly Petroleum Data for the week ending April 26, 2019 U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the week ending April 26, 2019, Continue Reading
In a historic first, renewable energy may have generated more electricity than coal in the entire U.S. for the month of April. Coal has long been the backbone of the Continue Reading
Highlights Commercial crude stocks up 9.93 million barrels at 470.57 million barrels Imports notch 10-week high at 7.41 million b/d Refinery utilization falls below 90% on Midwest turnarounds New York Continue Reading
Texas has pumped more oil than Iraq, OPEC’s No. 2 producer, for six months in a row, a lead the Lone Star State will keep for the foreseeable future — Continue Reading
Democrats and Republicans are quick to talk up a bipartisan infrastructure deal. Yet neither party wants to take the political risk of paying for it when all options are toxic Continue Reading
The Trump administration is poised to relax offshore drilling requirements imposed in response to the 2010 Deepwater Horizon disaster. (Bloomberg) — The Trump administration is poised to relax offshore drilling Continue Reading
The European Union will seek to increase its imports of liquefied natural gas (LNG) from the United States to 8 billion cubic meters (bcm) per year by 2023, more than Continue Reading
The UK’s electricity sector is ahead of the curve when it comes to cutting carbon emissions, but the country still needs to raise its renewables capacity four-fold by 2050 to Continue Reading
Oil prices fell on Wednesday after a report showed a rise in U.S. crude inventories, but global markets remained tense amid an intensifying political crisis in Venezuela, tightening U.S. sanctions Continue Reading
The American Petroleum Institute (API) reported a surprise build in crude oil inventory of 6.81 million barrels for the week ending April 26, coming in over analyst expectations of a Continue Reading
Oil prices pared their gains on Tuesday, after global benchmark Brent crude rose above $73 a barrel, as the market grew less worried that a rebellion against Venezuelan President Nicolas Continue Reading
Swiss driller Transocean’s customers are moving ahead with more offshore projects amid a rebound in crude oil prices and the continued improvement in offshore economics, company executives said Tuesday. Transocean Continue Reading
For more than ten weeks, portfolio managers have been consistently amassing bullish bets in the most important petroleum futures contracts, as market fundamentals were pointing to OPEC over-delivering on the Continue Reading
OPEC oil supply hit a four-year low in April, a Reuters survey found, due to further involuntary declines in sanctions-hit Iran and Venezuela and output restraint by top exporter Saudi Continue Reading
U.S. sanctions on Iran could boost oil prices and inflation to a point that hurts the common person in India, the country’s ambassador to the United States said on Tuesday Continue Reading
The Eastern Mediterranean is quickly turning into an energy hub due to the discovery of significant gas resources in recent years. Egypt, for example, has already started production at its Continue Reading
The biggest oil importers in Asia collectively bought 1.57 million bpd of oil from Iran in March, a 36-percent surge over February, as buyers rushed to use up the U.S. Continue Reading
U.S. President Donald Trump’s unexpected decision to ban all Iranian oil purchases after May 1 – ending exemptions for eight nations – came after hawkish economic and security advisors allayed Continue Reading
Iranian President Hassan Rouhani reiterated on Wednesday that Tehran will continue selling its oil despite U.S. sanctions and said Washington’s policy of putting pressure on Iran would fail in practice. Continue Reading
Despite a national image of support to peace and development worldwide, a central agenda of Norway in Somalia for over a decade has entailed methodical maneuvering to control petroleum resources. Continue Reading
A Dutch court said on Wednesday it has jurisdiction to hear a damages suit brought against energy company Royal Dutch Shell by four widows of activists executed by the Nigerian Continue Reading
Venezuelan opposition leader Juan Guaido on Tuesday made his strongest call yet to the military to help him oust President Nicolas Maduro, and violence broke out at anti-government protests as Continue Reading
Challenging geology, insufficient infrastructure, and low well productivity are set to result in China badly missing its own shale gas production target to 2020, analysts say. China has set a Continue Reading
Market gloom over the health of the Chinese economy has flipped to optimism that government stimulus has taken it past its soft patch. But Tuesday’s disappointing manufacturing surveys show that Continue Reading
U.S. crude oil production fell 187,000 barrels per day in February to 11.7 million bpd as output dropped in the Gulf of Mexico and key on-shore oil-producing states including Oklahoma Continue Reading
Warren Buffett’s Berkshire Hathaway Inc. agreed to inject $10 billion into Occidental Petroleum Corp.’s bid to acquire Anadarko Petroleum Corp. and fight off Chevron Corp. Last week, Houston-based Occidental offered Continue Reading
When John Barrasso, a Republican from oil and uranium-rich Wyoming who has spent years blocking climate change legislation, introduced a bill this year to promote nuclear energy, he added a Continue Reading
Warren Buffett’s Berkshire Hathaway has committed to invest US$10 billion in equity in Occidental Petroleum if Occidental completes its proposed acquisition of Anadarko, Occidental said on Tuesday, a day after Continue Reading
An oil and gas building spree in the United States might have a serious boomerang effect that could hit the industry as hard as a changing fundamentals landscape hit the Continue Reading
Highlights Sur de Texas-Tuxpan marine pipeline to begin commissioning “soon” US exports to Mexico could see upside before June on earlier startup South Texas basis to see volatility as line-packing Continue Reading
The Houston-based independent E&P company raked in double what it made in first-quarter 2018. ConocoPhillips raked in $1.9 billion in earnings in the first quarter of 2019, doubling what it Continue Reading
The oilfield services giant saw its net income decline by more than half from last year despite an increase in orders, driven by oilfield equipment. Revenues for Baker Hughes, a Continue Reading
The U.S. Environmental Protection Agency has suspended work on its plan to publish the names of refineries securing exemptions from federal biofuels law after receiving blowback from the White House Continue Reading
Highlights Q1 output was 326,000 boe/d from the three plays First-half 2019 seen flat, but growing later in year Long-term capex plan under $7 billion/year: CEO Lance Houston — ConocoPhillips’ Continue Reading
When John Barrasso, a Republican from oil and uranium-rich Wyoming who has spent years blocking climate change legislation, introduced a bill this year to promote nuclear energy, he added a Continue Reading
Mayor Eric Garcetti unveiled a sweeping plan for a more sustainable Los Angeles on Monday, calling for dramatic changes to the car culture, built environment and air quality of America’s Continue Reading
France will delay by 10 years the shutdown of part of its nuclear power industry in order to fulfil President Emmanuel Macron’s aim of making the country carbon-neutral by 2 Continue Reading
Last week the Trump administration announced that it will not be renewing six-month waivers granted to eight countries to continue buying limited quantities of Iranian oil, a move that shocked Continue Reading
Amid the ruckus of Great Britain’s reckless Brexit saga, one might not have noticed the ongoing environmental battle that could put a sudden end to shale gas development in the Continue Reading
Poland has tapped into its emergency oil reserves in order to keep key refineries operating after contaminated crude oil forced the shutdown of the Druzhba oil pipeline carrying oil from Continue Reading
Highlights Full clean-up could take ‘several months’ Belarus estimates up to 5 million mt of oil affected Transneft to blend dirty oil for export at Novorossiisk Moscow — Efforts to Continue Reading
