International cooperation on crude production has helped stabilize oil markets and is more important now than ever, Russian Energy Minister Alexander Novak said on Monday. The Organization of the Petroleum Continue Reading
A Canadian tourist cools down in the Trocadero’s fountains in August 2018 amid another heatwave France is braced for a heatwave with temperatures forecast to exceed 40C this week – Continue Reading
The UK wants to be a world leader in the fight against climate change. Committing to reduce greenhouse gas emissions to almost zero by 2050 is an admirable but expensive Continue Reading
Oil futures rose 1% on Friday, with U.S. crude up 10% in the week and global benchmark Brent gaining 5%, on fears the United States could attack Iran and disrupt Continue Reading
The the number of active oil and gas rigs in the United States fell again this week according to Baker Hughes, as the overall rig count reaches the lowest point Continue Reading
Meanwhile, manufacturing activity in Europe contracted in June, wrapping up the weakest quarter for the goods-producing sector in six years, IHS data showed Friday. A similar survey of Japanese manufacturers Continue Reading
Russia is ready to help Iran with oil exports and its banking sector if the Instex European payment system is not launched, Interfax news agency cited Russian Deputy Foreign Minister Continue Reading
U.S. President Donald Trump said on Friday he aborted a military strike on Iran because he said it could have killed 150 people, a disproportionate response to Tehran’s downing of Continue Reading
Crude and condensate in long-term floating storage hit its highest since August 2017 in May at 24 million barrels, as U.S. sanctions against Venezuela and Iran hindered the ability of Continue Reading
US Secretary of State Mike Pompeo will travel to India next week, but will offer no relief from oil sanctions to what was a top Iranian export market just two Continue Reading
Mexican national oil company Pemex plans to refinance $2.5 billion in debt this year while trying to revive oil production to boost income, the state-owned company’s chief financial officer said, Continue Reading
The Mexican government will cut Pemex’s profit-sharing duty, known as DUC, to 54% by 2021 from the current 65%, the company’s financial director, Alberto Velazquez, said Thursday. “Results from this Continue Reading
Pemex will avoid investing in deepwater offshore projects, instead focusing on areas where it has experience, including the shallow waters of the Gulf of Mexico and onshore fields, Reuters quoted Continue Reading
Mexico’s Pemex plans to book as reserves more than 20 billion boe via exploration and increased recovery factors, allowing it to achieve its December 2024 production goal of 2.6 million Continue Reading
A massive fire at Philadelphia Energy Solutions Inc’s oil refinery on Friday damaged the largest U.S. East Coast plant to the point that it could remain shut for an extended Continue Reading
U.S. energy firms increased the number of oil rigs operating for the first time in the past three weeks as U.S. crude futures soared around 10% this week. Big energy Continue Reading
Canada’s Senate passed on Thursday two controversial bills restricting the movement of oil tankers off the northern coast of British Columbia and overhauling the assessment process for oil pipelines—bills which Continue Reading
Members of the US House of Representatives’ tax-writing committee said they will work on a new bill to expand incentives for renewable and clean energy amid complaints that their new Continue Reading
The nation’s addition of one oil rig was offset by a loss of four gas rigs this week. The United States gained one oil rig and lost four gas rigs Continue Reading
General Electric Co said on Friday it plans to demolish a large power plant it owns in California this year after only one-third of its useful life because the plant Continue Reading
For years, the wind and the sun were widely dismissed as niche sources of power that could never fill America’s vast need for energy. But now the cost of solar Continue Reading
US gasoline prices jumped after a large fire and explosions were reported at the Philadelphia Energy Solutions oil refinery, the largest on the Atlantic coast. Wholesale gasoline futures for delivery into Continue Reading
Oil production in the US state of North Dakota has increased by more than a third – to 1.4m barrels a day – two years after a controversial pipeline Continue Reading
At a time when the country is already deeply fractured along partisan lines, individual states are starting to pursue vastly different policies on climate change with the potential to cement Continue Reading
Most analysts think a number of car companies are at serious risk of failing to achieve the targets, and some are calling it the biggest threat in a generation for Continue Reading
Two major public transport orders this week from regional transport authorities in Germany showed how they are going beyond federal targets to decarbonize bus and train fleets. City state Berlin Continue Reading
Exxon Mobil is considering selling all of the stakes it holds in oil and gas fields off the Norwegian coast, a company spokesman told business daily Dagens Naeringsliv. Two years Continue Reading
Crude oil futures were higher during mid-morning trade in Asia Friday, continuing their upward momentum from the previous day ‘s trading cycle bolstered by the ongoing geopolitical concerns in the Continue Reading
Oil prices rallied towards $65 per barrel on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than 20% of Continue Reading
Crude futures settled at three-week highs Thursday as the market eyed rising tensions between Tehran and Washington following the downing of a US surveillance drone over the Strait of Hormuz. Continue Reading
For the world’s biggest oil traders, it feels like a return to the 1980s when earnings were diluted by an abundance of crude. After three decades of stellar expansion and Continue Reading
Europe has suffered the sharpest turnaround, and there is little relief in sight, according to a June survey of purchasing managers conducted by data firm IHS Markit that was released Continue Reading
Gulf OPEC producers will keep their July oil production within their OPEC target despite the current global supply cut pact expiring at end of June, OPEC sources said on Thursday, Continue Reading
Just weeks ago, U.S. energy giant ExxonMobil looked poised to move ahead with a $53 billion project to boost Iraq’s oil output at its southern fields, a milestone in the Continue Reading
With sanctions re-imposed on Iran’s oil exports last year and recently applied in part to its petrochemicals exports as well, the U.S. is now looking to roll out the next Continue Reading
The world’s focus, not surprisingly, has been on Saudi Aramco’s $111bn of net income recorded in 2018, making it the most profitable company in the world. But elements of the Continue Reading
Many residents have been told to work from home in a bid to conserve water People fighting in queues for water, many unable to take showers, and hotels warning people Continue Reading
India and Russia continue to bolster their energy cooperation, and now India is looking at ways to establish oil shipping routes from Russia’s Far East India’s east coast, India’s Oil Continue Reading
Petroleos Mexicanos will focus on shallow water projects and onshore plays, and avoid investing in its deepwater riches for now, as the ailing Mexican state-run oil company seeks to turn Continue Reading
Mexico’s state oil producer Pemex is on the brink of making history as the global bond market’s largest “fallen angel” ever, but in the eyes of the fixed-income world, the Continue Reading
Japanese oil refiners are studying measures to handle potential disruption to crude supply from the Middle East amid mounting tensions in the region, the head of the Japan Petroleum Association Continue Reading
Japanese refiners have started weighing alternative crude supply sources that would not need to transit through the Strait of Hormuz, including from the Red Sea side in Saudi Arabia, West Continue Reading
After several years in the doldrums, oilfield service companies are beginning to raise prices for their products and services, according to Rystad Energy. “Oil and gas investments are on the Continue Reading
U.S. President Donald Trump has directed members of his Cabinet to review the administration’s expanded use of waivers exempting small refineries from the nation’s biofuel policy, after hearing from farmers Continue Reading
Highlights US oil and gas rig count continues weekly seesaw Permian had biggest loss this week, down 14 to 434 But Permian rigs should increase later this year Houston — Continue Reading
Bloomberg’s New Energy Outlook 2019 concludes that US coal and nuclear resources are expected to have “almost disappeared from the electricity mix” by 2050, largely as a result of “age Continue Reading
The oil pipeline that Canadian Prime Minister Justin Trudeau’s government approved on Tuesday is slated to start shipping crude as early as 2022 and cost more than C$7.4 billion ($5.6 Continue Reading
A fire was burning out of control at an oil refinery in Pennsylvania on Friday morning, a Philadelphia fire department official said, as NBC Philadelphia reported a series of explosions Continue Reading
North Dakota set an oil production record in January this year, and crude output in the state home to the Bakken shale play held close to that record level in Continue Reading
Republican lawmakers at the Oregon State Senate fled the state on Thursday to avoid being forced to vote on a climate bill that the Oregon House passed earlier this week Continue Reading
