Multinational oil and gas companies’ increasing shift towards low carbon investments is threatening the future of discoveries in East Africa, a region that was regarded as a frontier for hydrocarbons. Continue Reading
The Department of Petroleum Resources (DPR), international oil companies (IOCs), security agencies, community leaders and other stakeholders yesterday warned that oil theft was retarding the national economy and fuelling environmental Continue Reading
Port Harcourt — The Nigerian Army has said it destroyed no fewer than 120 illegal refining sites in the Niger Delta, insisting that its action was in line with its Continue Reading
On May 16th, Iván Freites, head of the Oil Workers Union of Falcon State, denounced that the Paraguaná refinery is producing 170,000 gasoline barrels per day, when it should be Continue Reading
A meeting between the Venezuelan government and the opposition to resolve the country’s deep political crisis ended without agreement on Wednesday, the opposition said, although negotiators left the door open Continue Reading
Brazilian state-led oil and natural gas producer Petrobras set fresh daily and monthly records for output from ultra-deepwater fields in the country’s offshore subsalt frontier in April and May, capping Continue Reading
China expects to achieve its national coal consumption cap targets in 2020, but the country’s aggressive goals could be tempered due to solid demand from power, steel and petrochemical industries, Continue Reading
Oil markets remained under pressure in early trading on Wednesday amid economic downturn worries due to the U.S.-China trade war that shows no sign of ending. Front-month futures for international Continue Reading
Papua New Guinea, an impoverished South Pacific nation that joined the ranks of the world’s significant energy exporters five years ago, installed a new prime minister who has called for Continue Reading
Major flooding in the Midwest has interfered with crude oil flows from the country’s main storage hub in Cushing, Oklahoma, temporarily pushing prices higher, Reuters reports. “Flooding seems to have impacted distribution Continue Reading
Nine in ten US shale oil companies are burning cash, according to Rystad Energy. Rystad has studied the financial performance of 40 dedicated US shale oil companies, focusing on cash Continue Reading
The US Department of Energy has authorized additional exports of domestically produced natural gas from the Freeport LNG Terminal in Texas, according to a DOE press release from Tuesday, but Continue Reading
U.S. Devon Energy announced on Wednesday an agreement to sell its Canadian business to Canadian Natural Resources for C$3.8 billion, or US$2.8 billion, as part of its plan to focus Continue Reading
About nine in 10 U.S. shale companies are tremendously overspending, according to new analysis by Rystad Energy. Just about 10 percent of U.S. shale companies had a positive cash flow Continue Reading
Despite the hype of lower breakeven prices , and despite the hype around longer laterals, energy digitalization, and other technological breakthroughs, most shale companies are still not profitable. In fact, Continue Reading
Ithaca Energy Limited is buying Chevron’s British North Sea oil and gas field interests for $2 billion, the unit of Israel’s Delek Group said on Thursday. Delek said last month Continue Reading
Total greenhouse gas emissions in the European Union (EU) increased by 0.7% in 2017, according to latest official data published today by the European Environment Agency (EEA). Less coal was Continue Reading
U.S. crude stockpiles are climbing at their quickest pace since 2016, fueling fresh volatility in the oil market as fears of excess supply gather momentum. Rising inventories have powered a Continue Reading
Oil prices fell by around 1% on Wednesday on concerns the Sino-U.S. trade war could trigger a global economic downturn, but relatively tight supply amid OPEC output cuts and political Continue Reading
U.S. crude futures gained almost 1% on Tuesday after flooding throughout the Midwest constrained crude flow from the main U.S. storage hub in Cushing, Oklahoma. U.S. West Texas Intermediate (WTI) Continue Reading
The International Energy Agency (IEA), OPEC and the U.S. Energy Information Administration (EIA), have consistently and seriously underestimated U.S. oil production, and hence non-OPEC supply, since the Shale Oil Revolution Continue Reading
Global nuclear power capacity could plunge by two-thirds over the next 20 years. Even as investment in solar and wind is surging, nuclear power has been the main source of Continue Reading
Like most debates these days, the debate on the carbon footprint of electric vehicles is a heated one with the most vocal opinions coming from extreme camps. Again, like most Continue Reading
Demand for liquefied natural gas (LNG) will continue to rise in the foreseeable future as global natural gas demand will grow exponentially with major emerging economies raising the share of Continue Reading
Global container carriers CMA CGM and MSC Mediterranean Shipping Company (MSC) will join TradeLens , a blockchain-enabled digital shipping platform, jointly developed by A.P. Moller – Maersk and IBM. ( Continue Reading
Iran sees no prospect of negotiations with the United States, a foreign ministry spokesman said on Tuesday, a day after U.S. President Donald Trump said a deal with Tehran on Continue Reading
U.S. National Security Adviser John Bolton said on Wednesday that attacks on oil tankers off the coast of the United Arab Emirates this month were the work of “naval mines Continue Reading
The White House isn’t planning a military offensive response to a U.S. assessment that Iran was behind recent attacks on tankers off the United Arab Emirates, national security adviser John Continue Reading
By now, after two-and-a-half years in office, it’s obvious that President Trump’s relations with Riyadh are dictating his foreign policy, even at the expense of further enraging a Democratic-controlled Congress Continue Reading
Nigeria’s government has authorized a local oil company to operate a new floating crude oil export terminal off the coast of the Rivers state in the oil-rich but still troubled Continue Reading
Chinese President Xi Jinping held talks with Nigerien President Mahamadou Issoufou on Tuesday. Calling China and Niger good friends, partners and brothers, Xi hailed the constantly strengthening political mutual trust and Continue Reading
Tankers carrying gasoline and ships transporting food for Venezuela were sabotaged last week to prevent them from reaching Venezuela, Nicolas Maduro said in a televised speech late on Monday. “Last Continue Reading
Venezuela’s economy contracted 19.2% in the first nine months of 2018 from the year-earlier period, as private consumption fell sharply and inflation soared in the crisis-racked nation, according to the Continue Reading
Beijing is “seriously considering” restricting exports to the United States of rare earths, 17 chemical elements used in high-tech consumer electronics and military equipment, the editor in chief of China’s Continue Reading
It took 100,000 construction workers a quarter of a century to bore through the Snowy Mountains to build Australia’s largest hydroelectric scheme. The vast nation-building project links nine power stations Continue Reading
China consumed 27.06 million mt of oil products in April, down 2.4% year on year, the National Development and Reform Commission said Wednesday. Receive daily email alerts, subscriber notes & Continue Reading
In Seoul, Hyundai Motor unveiled an electric double-decker bus—a first of its kind for Hyundai, and part of the company’s effort to help reduce traffic congestion and air pollution. The Continue Reading
Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum. It also quadrupled Continue Reading
Multiple tornadoes hit Ohio and Indiana. Along with destroyed homes and downed power lines, at least one death was reported. CELINA, Ohio — The tornado screeching across southern Ohio on Continue Reading
A global shortage of heavy crude will create hurdles for America’s key refining belts just as they ramp up gasoline production for summer driving season. In the Gulf Coast, dwindling Continue Reading
North Dakota oil drillers are falling far short of the state’s goals to limit the burning of excess natural gas at wellheads, five years after the state adopted the rules Continue Reading
Vehicle miles traveled (VMT) in the US was seven times higher in 2017 than in 1950, according to the US Department of Energy (DOE). The number of vehicles in operation Continue Reading
Texas oil and gas operators are proving they can produce more crude with fewer resources, according to the Texas Petro Index. Texas crude oil production continues to break records in Continue Reading
High-impact drilling is rebounding amid a changing competitive landscape. Large oil and gas companies are commanding a greater role in high-impact exploration, but a lack of depth in the quality Continue Reading
Russia’s Finance Minister Anton Siluanov speaks during a session of the VTB Capital Investment Forum “Russia Calling!” in Moscow, Russia, November 28, 2018. REUTERS/Maxim Shemetov NUR-SULTAN (Reuters) – Russia will Continue Reading
Russia should not pay for mistakes by oil pipeline monopoly Transneft from the budget, Russian First Deputy Prime Minister Anton Siluanov told Reuters on Wednesday, piling pressure on the state-owned Continue Reading
Moscow — Russian pipeline operator Transneft said Wednesday that crude pumping has resumed at Fenyeslitke in Hungary, and estimates that clean Druzhba crude will enter the system by 6:00 pm Continue Reading
If you want to identify tomorrow’s superpowers, overlay maps of fresh water, energy, grain/cereal surpluses and arable land. The status quo measures wealth with “money,” but “money” is not what’s Continue Reading
Oil prices were mixed on Tuesday as supply cuts, led by producer club OPEC, and U.S. sanctions on fuel exports from Iran and Venezuela supported crude, while concerns about an Continue Reading
Crude oil futures were higher during mid-morning trade in Asia Tuesday, shrugging off bearish comments on the US-China trade negotiations as supply issues continued to dominate the spotlight. At 10:30 Continue Reading
