Oil Markets In Limbo Ahead Of Trump-Xi Showdown
“The next few days will provide a much-needed dose of clarity for the oil balance over the coming months. Oil prices moved higher at the end of this week, on Continue Reading
Crude oil futures slip ahead of G20 summit, OPEC meeting
Crude oil futures edged lower during mid-morning trade in Asia Friday, ahead of the G20 summit and OPEC meeting, with market participants particularly awaiting the outcome of the meeting between US President Donald Continue Reading
Oil Prices Hinge On These Two Major Events
We are just days away from two major events that could influence not just oil markets over the next few months, but also trajectory for the entire global economy. The Continue Reading
Russia agrees with Saudi to extend OPEC deal by 6-9 months: Putin
Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil production, Russian President Vladimir Putin said. Putin, speaking after talks Continue Reading
Russia supports extension of OPEC+ deal: Putin
Russian president Vladimir Putin said Saturday that Russia and Saudi Arabia have agreed to support an extension of the OPEC+ deal, which may be in force for an additional 6 Continue Reading
OPEC to Extend Cuts Amid Dual Threats to Oil Supply, Demand
As part of the plan, Saudi Arabia will apply pressure to laggard producers, including Iraq and Nigeria, which haven’t complied with their pledged output curbs under the current agreement, the Continue Reading
American Missiles Found in Libyan Rebel Compound
Bryan Denton for The New York Times Libyan government fighters discovered a cache of powerful American missiles, usually sold only to close American allies, at a captured rebel base in Continue Reading
U.S.: Saudi Pipeline Attacks Originated From Iraq
Secretary of State Mike Pompeo urged Iraq’s prime minister to take steps to ensure that Iraq isn’t used as a new staging ground for attacks. Iraqi leaders are questioning the Continue Reading
Iran says progress at last-ditch nuclear deal talks ‘not enough’
European countries offered too little at last-ditch talks on Friday to persuade Iran to back off from its plans to breach limits imposed by its nuclear agreement with world powers, Continue Reading
Mexico’s president says big bank loan shows confidence in Pemex
An $8 billion syndicated loan to Mexico’s national oil company Pemex is a sign of confidence by more than 20 banks involved in the operation, Mexican President Andres Manuel Lopez Continue Reading
The Maduro mystery: Why the armed forces still stand by Venezuela’s beleaguered president
One of the central mysteries of Venezuela’s slow-motion collapse: Why does the military continue to support Nicolás Maduro, the president who has led the once-prosperous South American country into poverty Continue Reading
Mexico nearly ready with formula for billion-dollar oil hedge: official
Mexico has nearly finished reworking the formula it uses to hedge its oil production, a finance ministry official said on Friday, including changes to how it factors fuel oil prices Continue Reading
Brazil’s Petrobras sees oil exports growing more than one-third in future years
Brazil’s Petrobras plans to increase the amount of oil it exports by more than a third in the coming years, the state-run company said in a statement on Friday In Continue Reading
Trump Allows U.S. Sales to Huawei as Trade Talks Resume
“We’re going to work with China on where we left off to see if we can make a deal,” Mr. Trump said at a news conference. “I’m not rushed,” he Continue Reading
G20 Live Updates: U.S. and China Agree to Restart Trade Talks
‘We’re right back on track,’ Trump says of China trade talks. The United States and China have agreed to resume trade talks, President Trump said on Saturday after meeting with Continue Reading
U.S. oil output in April exceeds 12 million bpd to record monthly high: EIA
U.S. crude oil output in April rose to a fresh monthly record, surpassing 12 million barrels per day, according to a government report on Friday. The United States produced 12.16 Continue Reading
Petroleum Supply Monthly
Supply and disposition of crude oil and petroleum products on a national and regional level. The data series describe production, imports and exports, movements and inventories. PDF and CSV files Continue Reading
Shale Patch Struggles 5 Years After Crude Collapse
It’s been five years since crude started a precipitous drop that eventually saw it hit a low of $26 a barrel and shale producers are still feeling the pain. (Bloomberg) Continue Reading
Disposal Firm Adds Permian Injection Capacity
Milestone Environmental Services reported that it has acquired leases and injection permits in Howard County, Texas. Milestone Environmental Services reported Wednesday that it has acquired three leases and four injection Continue Reading
US Drillers Add Four Rigs
This week’s addition of oil rigs was offset by a decline in gas rigs. The U.S. added four oil rigs and dropped four gas rigs this week, according to weekly Continue Reading
Harris County plans lawsuit against Valero for Houston refinery pollution
Harris County in Texas plans to sue Valero Energy Corp for pollution from its Houston refinery, the head of the county’s environmental law department said on Friday. A Valero spokeswoman Continue Reading
Colorado county sets moratorium on new oil and gas drilling permits
Boulder County, Colorado, on Friday halted accepting new oil and gas drilling and seismic testing permits for nine months, the latest community in the state to enact measures aimed at Continue Reading
Oilfield firm Weatherford International files bankruptcy plan
Oilfield services firm Weatherford International on Friday filed a prepackaged restructuring plan with the U.S. Securities and Exchange Commission, according to a regulatory filing. The company, which has struggled under Continue Reading
Oil Rig Count Sees Small Rise Ahead Of OPEC Meeting
this week according to Baker Hughes, but the 4-rig decrease in the number of gas rigs was completely offset by an equal increase to the number of oil rigs. There Continue Reading
France roasts in record heatwave, two die in Spain
France registered its highest temperature since records began on Friday as the death toll rose from a heatwave suffocating much of Europe. The mercury hit 45.9 degrees Celsius (114.6 Fahrenheit) Continue Reading
Oil prices slip ahead of G20 talks, OPEC meet
Oil prices eased on Friday as traders awaited any update on the Sino-U.S. trade war from a scheduled weekend meeting of the two countries’ presidents at the G20, and eyed Continue Reading
Crude oil futures slip ahead of G20 summit, OPEC meeting
Crude oil futures edged lower during mid-morning trade in Asia Friday, ahead of the G20 summit and OPEC meeting, with market participants particularly awaiting the outcome of the meeting between Continue Reading
G20 meeting may offer more clarity for OPEC, non-OPEC: Russia’s Novak
Russian Energy Minister Alexander Novak said on Friday he hoped a meeting of G20 nations in Japan would provide clarity for OPEC and non-OPEC oil producers as they consider whether Continue Reading
OPEC set for rollover, may discuss deeper oil curbs: Iraq
OPEC is expected to roll over a deal on cutting supplies at a meeting next week and discuss deepening the curbs that have been in place since Jan. 1, Iraq’s Continue Reading
Libya’s GNA Deals Blow To Haftar Forces Outside Tripoli
Forces of the UN-recognized Government of National Accord in Libya have seized a town near Tripoli that served as the main supply base for the Libyan National Army of General Continue Reading
Turkey’s TPAO to start drilling for gas east of Cyprus early July
Turkey’s state upstream operator TPAO will start drilling for gas east of Cyprus in early July, within the Exclusive Economic Zone (EEZ) claimed by the Republic of Cyprus, an official Continue Reading
The Oil Crisis Saudi Arabia Can’t Solve
Saudi Arabia’s CEO Amin Nasr’s message to the press that oil flows to the market are guaranteed, should be taken with a pinch of salt. Looking at the current volatility Continue Reading
UAE becomes Japan’s largest crude supplier in May as Iran oil imports halt
Highlights Crude imports from UAE, Ecuador replace supply from Iran Abu Dhabi grades more expensive than Iranian Heavy crude First intake of Cameroon’s Ebome crude, Australia’s Wheatstone condensate Singapore — Continue Reading
Trade War Is Unexpected Boon For Iranian Gas
Facing an unexpectedly rigorous enforcement by the U.S. of its re-imposed sanctions on oil and the recent addition of partial sanctions on its petrochemicals sector, Iran is pushing for output Continue Reading
With Iran nuclear deal on brink, world powers in ‘last chance’ talks
World powers will warn Iran to stick to the terms of their nuclear deal when they meet on Friday for “last chance” talks, but with Tehran feeling the pressure from Continue Reading
‘We only want to sell our oil,’ Iran official says before nuclear talks
Iran’s main demand in talks aimed at saving its nuclear deal is to be able to sell its oil at the same levels that it did before Washington withdrew from Continue Reading
Factbox: A breach of Iran nuclear deal could trigger sanctions snapback
Iran could within days breach part of its 2015 nuclear deal with world powers, a move that could eventually culminate in the return of all international sanctions on the country. Continue Reading
Iran on course to exceed nuclear pact limit within days: diplomats
Iran is on course to breach a threshold in its nuclear agreement within days by accumulating more enriched uranium than permitted, although it had not done so yet by a Continue Reading
Shell, Exxon Mobil eye re-entry into Somalia’s upstream sector
Royal Dutch Shell ( RDSa.L ) and Exxon Mobil ( XOM.N ) are looking to re-enter the market in Somalia ahead of an oil block bid round taking place later Continue Reading
Russia Says It Won’t Increase Presence in Venezuela
Moscow’s support for Venezuelan President Nicolás Maduro has been an irritant in its relations with Washington, which recognizes opposition leader Juan Guaidó as the country’s legitimate head of state. In Continue Reading
Mexican President: Pipeline Contracts Are ‘Abusive And Unfair’
Mexico’s President Andrés Manuel López Obrador—who criticizes his predecessor’s energy reforms— said on Thursday that the natural gas pipeline contracts that the previous administration had signed were ‘abusive’ and ‘unfair’ Continue Reading
Analysis: Sur de Texas-Tuxpan pipeline delays pressure Texas gas supply, prices
Delayed startup of the Sur de Texas-Tuxpan pipeline, which could continue indefinitely amid possible arbitration proceedings by Mexico’s CFE , already appears to be impacting South Texas gas supply. Over Continue Reading
Mexico Sur de Texas-Tuxpan natural gas line faces further delay as CFE seeks arbitration
It is unlikely the Sur de Texas-Tuxpan natural gas pipeline offshore Mexico will begin operating if state power utility CFE proceeds with arbitration over capacity payments made while the already-delayed Continue Reading
Argentina delivers first exports from Vaca Muerta deposit
Argentina’s ambitious drive to emulate the US shale boom is moving ahead after the country delivered its first-ever exports of light crude oil and liquefied natural gas from its massive Continue Reading
Mexico’s $8B Refinery Could Have ‘Severe’ Impact On Air Quality
Mexico’s planned US$8-billion oil refinery in the home state of President Andrés Manuel López Obrador would have a ‘severe’ impact on air quality in the area, Reuters reported on Thursday, Continue Reading
Asia’s Iran oil imports fall to lowest in at least five years in May
Asia’s crude oil imports from Iran fell in May to the lowest in at least five years after China and India wound down purchases amid U.S. sanctions, while Japan and Continue Reading
Exclusive: Plains’ Cactus II oil pipeline to begin line fill in a week – source
Plains All American Pipeline LP’s 670,000 barrel-per-day (bpd) Cactus II oil pipeline system from the Permian Basin to the Corpus Christi, Texas area will commence line fill within a week, Continue Reading
Michigan sues Enbridge in U.S., seeks to shut oil pipeline through Great Lakes
The U.S. state of Michigan has filed a lawsuit asking for an Enbridge Inc oil pipeline that runs under the Straits of Mackinac in the Great Lakes to be decommissioned, Continue Reading
Shale Executive Sees “Another Round Of Bankruptcies” Looming
The recent downturn in oil prices forced a slowdown in the U.S. shale industry, and top executives appear to be gloomier than ever. According to a survey by the Dallas Continue Reading
US Congress moves Nord Stream 2 sanctions bill ahead of Trump, Putin summit
The US Congress has begun moving sanctions legislation that would target construction of Russian pipelines, while analysts believe the upcoming meeting between Presidents Donald Trump and Vladimir Putin could trigger Continue Reading