Crude rises on geopolitical tensions despite stock build 0250 GMT: Crude oil futures were higher during mid-morning trade in Asia Thursday amid increasing geopolitical tensions in the Middle East despite Continue Reading
Oil prices pushed higher on Thursday for the third day in a row, as fears of supply disruptions amid heightened tensions in the Middle East overshadowed an unexpected rise in Continue Reading
As the automotive sector hits difficult times, electric vehicles are proving to be one area in which horizons seem bright. Global light-duty plug-in electric vehicles were up 43% year on Continue Reading
Recently, Saudi Aramco, the world largest oil exporter, has acknowledged that Ghawar, the world largest oil field, is in decline. The news went mostly unnoticed except in the specialized media. Continue Reading
Iran has officially stopped some commitments under a 2015 nuclear deal with world powers following an order from its national security council, an informed official in the country’s atomic energy Continue Reading
ExxonMobil is starting to evacuate its engineers working on Iraq’s West Qurna 1 field due to security concerns, according to Al Arabiya. Earlier in the day, S&P Global Platts reported Continue Reading
Saudi Aramco restarted pumping oil on Wednesday through the pipeline which was hit by drone attacks on Tuesday, Arab media report. Two pumping stations along Aramco’s East-West oil pipeline in Continue Reading
Highlights Saudi Arabia files complaint to UN Security Council UAE beefs up maritime security OPEC/non-OPEC committee to meet Sun in Jeddah Dubai — Saudi Arabia is directly pointing the finger Continue Reading
The Syrian regime-held city of Aleppo is in the midst of a fuel crisis. Since early April, fuel shortages have plagued the city, where hundreds of vehicles queue daily at Continue Reading
A tanker carrying Iranian fuel oil in violation of U.S. sanctions has unloaded the cargo into storage tanks near the Chinese city of Zhoushan, according to ship-tracking data on Refinitiv Continue Reading
Growing U.S. pressure on Iran has weakened pragmatic President Hassan Rouhani and made his hardline rivals more assertive at home and abroad, recent developments show. When he succeeded firebrand leader Continue Reading
Saudi Arabia’s state oil giant Aramco says that it doesn’t believe all the ‘peak oil demand hype’ and expects that its crude oil will be in high demand for decades Continue Reading
OPEC de facto leader and the world’s largest crude oil exporter Saudi Arabia is still trying to pivot away from over-reliance on crude oil export revenue. But, to achieve this Continue Reading
Venezuela’s crucial oil upgraders have stopped processing heavy crude because a decline in exports due to U.S. sanctions has left the OPEC nation without sufficient storage space, seven sources familiar Continue Reading
The Department of Homeland Security said it was suspending all commercial passenger and cargo flights between the U.S. and Venezuela, citing safety concerns stemming from political instability in the South Continue Reading
The President of Angola Joao Lourenço has fired Sonangol CEO Carlos Saturnino, as well as the whole board of directors. Now there are several things which seem wrong at first Continue Reading
Venezuela’s oil production held up last month, but appears to be falling off a cliff once again. Output in Venezuela rebounded a bit in April, following the horrific electricity blackouts Continue Reading
China is running out of options to hit back at the United States without hurting its own interests, as Washington intensifies pressure on Beijing to correct trade imbalances in a Continue Reading
Chinese refineries returned to record-high processing rates last month driven by the so-called teapots, which added a substantial amount of new refining capacity. According to Reuters , the average daily Continue Reading
The escalation of the trade war between the US and China could jeopardize several LNG mega projects that are awaiting final approval, according to Rystad Energy. China announced on Monday Continue Reading
Declining output of cars and machinery led U.S. factory production to fall unexpectedly in April, a sign the economy is losing a step as a trade war with China intensifies. Continue Reading
U.S. crude oil stockpiles rose unexpectedly last week, climbing to their highest since 2017 amid a release from the national emergency reserve, while gasoline inventories decreased more than forecast, the Continue Reading
Summary of Weekly Petroleum Data for the week ending May 10, 2019 U.S. crude oil refinery inputs averaged 16.7 million barrels per day during the week ending May 10, 2019, Continue Reading
Saudi, Iraq, Colombia, Brazil, and Kuwait lead import surge Strong margins a boon for refiners returning from turnarounds Atlantic Coast gasoline stocks 5.8% below five-year average US crude inventories climbed Continue Reading
Highlights Four terminals producing, two more preparing to start up Activity a demand driver for midstream, upstream sectors Houston — Gas deliveries were observable Wednesday at all six US LNG Continue Reading
The Houston Ship Channel has reopened to both inbound and outbound traffic after a tanker-tug collision last week, a spokesman for the Joint Information Center of the Unified Response Team Continue Reading
North Dakota oil production in March totaled 1.39 million b/d, up 4% from February but still below the all-time high earlier in the year, the state’s Department of Mineral Resources Continue Reading
Schlumberger is divesting non-core drilling assets to Wellbore Integrity Solutions for $400 million. Schlumberger is selling its businesses and associated assets of DRILCO, Thomas Tools and Fishing & Remedial services Continue Reading
Bloomberg NEF’s latest annual outlook for electric vehicles is here. As usual, there’s a lot packed into those 130-odd pages. Here are two nuggets to get you started. First, Bloomberg NEF forecasts Continue Reading
Canadian oil producers have been having a hard time after the 2014 crisis, harder than their peers elsewhere, constrained in their recovery and growth plans by a shortage of oil Continue Reading
A document entitled CO2 “Greenhouse” Effect, A Technical Review, Prepared by the Coordination and Planning Division, Exxon Research and Engineering Company, April 1, 1982 , which is accompanied by a Continue Reading
The bills are due for millions of barrels of contaminated Russian oil that have been stuck for weeks in pipelines from Belarus to Germany – but no one wants to Continue Reading
Resembling the helmet of a Star Wars stormtrooper, a driverless electric truck began daily freight deliveries on a public road in Sweden on Wednesday, in what developer Einride and logistics Continue Reading
Exports of clean Russian oil via the Druzhba pipeline, interrupted due to contamination, will be fully restored in late May or early June, Russian Energy Minister Alexander Novak said on Continue Reading
Africa’s economic potential is enormous: the continent contains significant mineral and energy deposits, a young and growing population, and an underdeveloped energy sector desperately in need of investment. Approximately 640 Continue Reading
This week hundreds of industry insiders are heading to Amsterdam for “Europe’s largest midstream gas & LNG event”, the 25th annual Flame Conference. The setting for the summit is an Continue Reading
The UK’s goal to maximize oil and gas recovery from the North Sea will harm the country’s Paris Agreement climate goals, a new report by climate campaign groups showed on Continue Reading
The contamination issue with Russian oil pipeline supply will impact European refinery runs to the tune of 250,000 bpd in the second quarter, which is below 2 percent of Europe’s Continue Reading
Crude oil futures were lower during mid-morning trade in Asia Wednesday, amid a surprise build reported in US crude stocks last week while ongoing global supply tightness capped the price Continue Reading
The American Petroleum Institute (API) reported a large surprise build in crude oil inventory of 8.6 million barrels for the week ending May 10, coming in significantly over analyst expectations Continue Reading
Oil markets saw a volatile start of the week as additional tariff threats from the U.S. and China forced prices lower on Monday, but increasing tension in the Middle East Continue Reading
Oil prices rose over 1% on Tuesday after top exporter Saudi Arabia said explosive-laden drones launched by a Yemeni-armed movement aligned to Iran had attacked facilities belonging to state oil Continue Reading
The tensions between Saudi Arabia/UAE and Iran seem to be heading for a new showdown, as the media hype during the weekend has shown. Not only have unknown assailants attacked Continue Reading
Global energy investment “stabilised” at just over $1.8 trillion in 2018, ending three years of declines. Higher spending on oil, natural gas and coal was offset by declines in fossil Continue Reading
More than a year ago, U.S. shale producers started to realize that investors were getting impatient about meager returns from the industry that was pumping record volumes of oil without Continue Reading
The data below was taken from the OPEC Monthly Oil Market Report . All data is through April 2019 and is in thousand barrels per day. The data is crude Continue Reading
OPEC said on Tuesday that world demand for its oil would be higher than expected this year as supply growth from rivals including U.S. shale producers slows, pointing to a Continue Reading
Asian refiners shrugged off the latest shutdown of Saudi Arabia’s East-West oil pipeline as the companies bring in the vast majority of their term Saudi crude barrels via Persian Gulf Continue Reading
Crude oil production in the Organisation of Petroleum Exporting Countries fell by just 45,000 bpd in April, according to the cartel’s latest Monthly Oil Market Report , despite continued deep Continue Reading
Saudi Arabia said two of its oil pumping stations were hit by drone attacks on Tuesday, heightening concerns about the security of the kingdom’s energy infrastructure 48 hours after two Continue Reading
