Crude oil futures remained lower in mid-morning Asian trade Thursday after the Energy Information Administration reported a build in US crude stocks. Rising tensions between the US and China also Continue Reading
Oil prices dropped on Thursday, extending falls from the previous session amid surging U.S. crude inventories as ample supply and weak refinery data weighed on demand. Brent crude futures, the Continue Reading
As confusion among oil traders persists regarding where oil prices are going to go from here, the Energy Information Administration scored one for the bears by reporting a crude oil Continue Reading
Oil prices fell about 2% on Wednesday as an unexpected build in U.S. crude inventories compounded investor worries that a trade fight between Washington and Beijing could dent crude demand Continue Reading
US crude inventories climbed 4.74 million barrels last week to 476.78 million barrels, with higher production and lower refinery runs helping to offset a decline in imports, US Energy Information Continue Reading
With oil production plunging in Venezuela and Iran, tension in the Middle East at its highest point in years, and the threat of further outages in Libya, why are oil Continue Reading
Global oil demand will grow more slowly than previously thought following an economic lull in Asia, the International Energy Agency said, while warning that supplies stand to tighten due to Continue Reading
Rising U.S. production weighed on oil prices in the first quarter compared to the same period last year, and those lower prices, combined with weak refining margins, impacted the revenues Continue Reading
In a matter of months, the language of climate emergency has exploded into public space in a spectacular way, with national, regional and governments adopting the term. Last Friday The Continue Reading
DUBAI/NEW YORK (Reuters) – Saudi Aramco signed a 20-year agreement to buy liquefied natural gas (LNG) from a forthcoming export terminal in Texas that U.S.-based Sempra Energy is developing, the Continue Reading
Saudi Arabia’s deal to buy American natural gas is part of a decadelong $160 billion plan to build up its gas assets, as the oil-rich kingdom’s demand for new energy Continue Reading
Saudi Aramco struck a deal with U.S. Sempra Energy to buy 5 million tons of liquefied natural gas annually from Sempra’s Port Arthur LNG plant, Reuters reports , citing the Continue Reading
Iranians set ablaze an American flag last month in Tehran during a rally following the U.S. designation of Iran’s Revolutionary Guard Corps as a terrorist organization. (Rouzbeh Fouladi/NurPhoto/Getty Images) Iran Continue Reading
Saudi Arabia, the world’s largest oil exporter, and de facto OPEC leader, is trying to calm global oil market jitters, and at least for now, it’s working. Saudi Arabia’s council Continue Reading
The heightened tension in the Middle East and security risks in the key waterways around the Arabian Peninsula have prompted the world’s most influential marine insurers’ organizations to expand their Continue Reading
As tensions in the Middle East continue to escalate with Iran threatening to choke off shipments through oil’s most critical chokepoint, the Strait of Hormuz, two countries are looking for Continue Reading
Iraq will raise the oil production from its giant West Qurna 1 field by as much as 50,000 bpd in the next few days, a senior industry official told Reuters Continue Reading
Six months into Iraqi Oil Minister Thamir Ghadhban’s tenure, his ministry is fighting against major political headwinds as it pursues strategically important deals. Surrounded by grandstanding politicians who have already Continue Reading
Highlights Pemex expects to add 320,000 b/d from 20 new fields by end of 2021 Company aims to develop 20-40 new fields every year Program to have a major focus Continue Reading
Asia’s oil refiners are considering reducing output after margins slumped to their lowest for the season since 2003, according to industry sources and Refinitiv data. Companies that planned to trim Continue Reading
Venezuelan army troops have been deployed aboard 15 oil tankers owned by state-owned PdV to fend off mutinies and ensure that cargoes destined mainly for Cuba are delivered, according to Continue Reading
Chinese oil traders and refiners no longer want to sign long-term supply agreements with U.S. producers, said the chief executive of Enterprise Products Partners as quoted by Reuters, amid the Continue Reading
The United States needs to correct its wrong actions if it wants to continue negotiations with China to end a damaging tariff war, China’s Commerce Ministry said on Thursday, adding Continue Reading
The United States is at least a month from enacting its proposed tariffs on $300 billion in Chinese imports as it studies the impact on consumers, U.S. Treasury Secretary Steven Continue Reading
U.S. crude oil inventories rose unexpectedly last week, hitting their highest levels since July 2017, due to weak refinery output, particularly in the Midwest, the Energy Information Administration said on Continue Reading
Summary of Weekly Petroleum Data for the week ending May 17, 2019 U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending May 17, 2019, Continue Reading
Natural gas prices at the Waha hub in West Texas are negative again this week, for the first time since plunging to an all-time low of minus $4.28 per million Continue Reading
A subsidiary of Occidental and Canadian clean energy company Carbon Engineering are teaming up to build the world’s biggest Direct Air Capture (DAC) and sequestration facility in the Permian that Continue Reading
This year’s top-performing U.S. oil producer doesn’t have any operations in the world’s fastest-growing shale play. (Bloomberg) — This year’s top-performing U.S. oil producer doesn’t have any operations in the Continue Reading
For several years a mysterious fleet of tractor trailers loaded with natural gas cylinders has been crisscrossing U.S. roads, and in the dark early morning hours on Sunday, March 3, Continue Reading
The wettest year on record is raising costs for the nation’s biggest agricultural companies, stalling farmers’ fieldwork and slowing shipments across the U.S. Farm Belt. “It’s got to be the Continue Reading
The breakeven cost of producing oil from U.S. shale is roughly the same as non-shale, despite the tidal wave of investment into the sector. According to the Federal Reserve Bank Continue Reading
The US Energy Information Administration publishes Tight Oil Production Estimates by Play each month (can be found at link above.) I noticed this month that the estimates seemed different than Continue Reading
The overwhelming majority of U.S. shale companies were hit hard due to lower oil prices in the first quarter of the year. Just about every shale company that I keep Continue Reading
Lubricants—a more than $146-billion market serving numerous applications, automotive among them—are produced from base oils derived from petroleum mineral oils (mineral base oil) or synthetic oils such as poly-α-olefins (PAOs) Continue Reading
Rattler Midstream Partners LP raised $665 million in the biggest energy initial public offering of the year, pricing an increased number of shares in the middle of its targeted range. Continue Reading
The shutdown of a major Russian pipeline that sends crude to European refineries has fueled concerns of tightness in the global oil market, driving futures prices higher. Problems with the Continue Reading
The competition for a stake in the European gas market is heating up in 2019, which promises to be an important year. The outcome of this contest will have a Continue Reading
London — Oil traders and refiners with cargoes of contaminated Russian oil may be forced to find buyers for the unwanted shipments in China or Japan where the corrosive crude Continue Reading
Russia is sending clean within-standards crude oil via the Druzhba pipeline toward Hungary and Slovakia, with first clean oil expected to arrive at the metering stations in those countries within Continue Reading
Crude oil futures were lower during mid-morning trade in Asia Wednesday amid a build reported in US crude inventory last week, while ongoing geopolitical tensions kept prices volatile. At 11:10 Continue Reading
Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and on-demand concerns linked to a protracted trade war between China and the United States. Continue Reading
The annual growth rate in the global offshore oilfield services market will likely be halved after 2022, according to Rystad Energy. The annual growth rate in the global offshore oilfield Continue Reading
Over the past week, oil prices have trended higher as concerns about escalating U.S.-Iran and Iran-Saudi standoffs have overshadowed bearish-side concerns about the U.S.-China trade war and slowing global economic Continue Reading
Oil futures were steady on Tuesday as the prospect of mounting U.S.-Iran tensions disrupting supply was offset by concerns that a lengthy trade war between Washington and Beijing would limit Continue Reading
Oil was flat at the start of trading on Tuesday, still caught between U.S.-Iran tensions on the one hand, and the downside risk of the U.S.-China trade war. – Venezuela’s Continue Reading
ExxonMobil evacuated some staff from southern Iraq over fears of rising tensions between the U.S. and Iran, although there is still little evidence to suggest any oil operations will be Continue Reading
Saudi Arabia has set up a deal to purchase U.S. liquefied natural gas from Sempra Energy, a new strategic direction for the kingdom as it seeks to establish a footprint Continue Reading
A major fire outbreak has occurred on Trans Forcados Pipeline, TFP, late Sunday night. Vanguard gathered that the fire started in Yeye community, Burutu Local Government Area, Delta State. Chairman Continue Reading
It was a daring gambit: Juan Guaidó, Venezuela’s opposition leader, stood by a military base alongside dozens of uniformed officers and political allies, calling for a military uprising against President Continue Reading
