How Iran Was Swindled Out Of $3.2 Trillion
Underlying the one-year anniversary in mid-August of the signing of the ‘Convention on the Legal Status of the Caspian Sea’ is one of the greatest oil industry swindles in recent Continue Reading
Libya’s NOC Warns Army Is Inside Key Crude Terminal
Libya’s internationally recognized National Oil Corporation (NOC) said on Thursday that it is concerned about an increased military presence inside one of the country’s key oil terminals, Ras Lanuf, warning Continue Reading
Nigeria: Oil Pipeline Vandalism Affecting Investment, Says Shell
Citing the danger of continuous sabotage to people and environment, and attendant loss of revenue, Shell Nigeria has called for stakeholders’ support to curb the incessant vandalism of crude oil Continue Reading
India Heat Wave, Soaring Up to 123 Degrees, Has Killed at Least 36
One of India’s longest and most intense heat waves in decades, with temperatures reaching 123 degrees, has claimed at least 36 lives since it began in May, and the government Continue Reading
America’s Most Important Natural Gas Export Market
Recently the Trump Administration announced plans to impose a 5 percent tax on all goods imported from Mexico unless “the illegal migration crisis is alleviated.” These tariffs would potentially rise Continue Reading
Mexico to cancel October auctions for Pemex joint ventures
Mexico’s oil regulator plans to announce the cancellation of auctions scheduled for October to pick joint venture partners for state-run energy company Pemex in seven onshore areas, two sources close Continue Reading
China says won’t yield to any U.S. pressure over trade
China’s commerce ministry said on Thursday Beijing will not yield to any “maximum pressure” from Washington, and any attempt by the United States to force China into accepting a trade Continue Reading
Sinopec to substitute Iran crude with Saudi grades: exec
China’s Sinopec plans to substitute Iranian crude with that of grades from Saudi Arabia and other origins in the Persian Gulf, even as scope of more purchases from the US Continue Reading
Trump Could Retaliate if Xi Balks at Trade Meeting, Kudlow Says
The remarks followed comments by Mr. Trump on Monday. “We are expected to meet. If we do, that’s fine and if we don’t, that’s fine,” Mr. Trump said on CNBC. Continue Reading
China’s Trade Frontman Points, With Laser, to Bright Side of U.S. Tensions
During his presentation at Shanghai’s Lujiazui Forum, the 67-year-old technocrat didn’t refer directly to the U.S. or the trade talks that he has led. His arguments about China’s economic wherewithal Continue Reading
Interest dims in Oklahoma shale play as drilling results disappoint
It promised to be the next great shale play, but an oil-and-gas-rich area of central and south Oklahoma has confounded many of the producers lured there, with one of its Continue Reading
The U.S. Cements Its Position As World Leader In Oil Reserves
In its latest annual report of world recoverable oil resources, Rystad Energy finds that the United States currently holds 293 billion barrels of recoverable oil resources. This is 20 billion Continue Reading
Alberta Government Goes After The Media For Oil Sands Misinformation
The new conservative Alberta government has targeted media in a campaign aimed at improving the image of the oil sands industry as presented by Premier Jason Kenney. CBC News reports Continue Reading
Exxon-Sabic Texas Project to Create Nearly 7,000 Jobs
Gulf Coast Global Ventures JV expects to break ground during third quarter. Exxon Mobil Corp. and Saudi Basic Industries Corp. (SABIC) will proceed with construction of a 1.8-million-metric-ton ethane steam Continue Reading
Shale Boom Boosts Gas Flaring In 2018: World Bank
Rising shale oil production in the United States that drove gas flaring up 48 percent in 2018 also pushed up the global total by 3 percent to 145 billion cubic Continue Reading
EVs Lose Resale Value Fast, But Not Tesla
Electric vehicles (EVs) are depreciating much faster than the average for all cars, with one notable exception—Tesla, whose vehicles hold values better than their gas-powered rivals. Automotive research firm and Continue Reading
The ECAT from Andrea Rossi: Nuclear Fusion and the Rossi Effect
Inventor Andrea Rossi has caught the attention of the scientific community in recent years for his invention of the ECAT. The ECAT (Energy Catalyser) is a new cold fusion device, Continue Reading
Trump Threatens Germany With Sanctions Over Gas Pipeline Support
President Trump continued his relentless offense against Russian gas in Europe this week by threatening to slap sanctions on Germany for its equally relentless support of the Nord Stream 2 Continue Reading
Russia Pushes Back Against “Freedom Gas”
So far this year, Russia has been flooding the European markets with an oversupply of natural gas despite the fact that the glut is pushing natural gas prices lower. Booming Continue Reading
UK Energy Supplier SSE To Close Its Last Coal-Fired Power Plant
UK energy provider SSE Plc said on Thursday that it is proposing to close its last coal-fired power plant in the country by March 2020, amid a national and international Continue Reading
Business and pleasure: how Russian oil giant Rosneft uses its corporate jets
(Reuters) – Jets used for corporate travel by Russian state-owned oil major Rosneft flew at least 13 times to Mallorca, Ibiza, Sardinia and the Maldives when CEO Igor Sechin or Continue Reading
Putin’s $40 Oil Lie
Much has been made of President Vladimir Putin’s recent claim that crude oil prices are acceptable at present levels, and the Russian economy could even weather $40 per barrel. Many Continue Reading
Oil prices surge after suspected tanker attack near Iran
Oil prices jumped as much as 4% on Thursday after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz, through which Continue Reading
Oil slumps 4% on U.S. crude build, slowing demand fears
Oil prices tumbled 4% on Wednesday to their lowest settlements in nearly five months, weakened by another unexpected rise in U.S. crude stockpiles and by a dimming outlook for global Continue Reading
IMO 2020 could cause Brent price spike to $80/b by end-2019: Platts Analytics
The oil market is likely to tighten further in the second half of the year due to further supply restraints and relatively healthy demand, with IMO 2020 potentially pushing Brent Continue Reading
Goldman: No One Knows What’s Going On In Oil Markets
There has always been a lot of uncertainty around oil demand and supply, and in recent years this uncertainty has become excessive. Now, this level of excess uncertainty has got Continue Reading
Oil demand growth grinding to lowest in years as global economy stalls
World oil markets have undergone a U-turn, switching from supply-side risks like OPEC’s production cuts or U.S. sanctions against producers Iran and Venezuela, analysts said, to concerns of slowing consumption Continue Reading
Analysts: 2019 Oil Demand Growth Could Be Lowest In Years
While OPEC and Russia are busy calibrating a possible extension to their production cuts, analysts and traders have turned their attention away from oil supply concerns and are focused again Continue Reading
The $200 Billion Push In Offshore Oil & Gas
As the oil and gas industry comes out of the recent downturn, E&P companies are tempted to chase the rewards of higher oil prices by accelerating the sanctioning of new Continue Reading
World Bank: Global gas flaring up 3% in 2018
Flaring of natural gas rose 3% year-to-year in 2018 to an estimated 145 billion cum, the World Bank’s Global Gas Flaring Reduction Partnership (GGFR) disclosed on June 12. The growth Continue Reading
Climate Change Could Trigger Global Financial Crisis
A top U.S. financial regulator is worried that climate change could threaten global financial markets. Rostin Behnam, a commissioner at the Commodity Futures Trading Commission (CFTC), said that the financial Continue Reading
Extreme Weather Could Send Global Energy Demand To Record High
The world is moving further away from a sustainable path as carbon emissions increased last year at the fastest pace since 2011 due to unusually hot and cold spells in Continue Reading
Oil Producer In Libya: It’s A Day-To-Day Struggle To Keep Pumping
Continued clashes in Libya and an escalation of hostilities could threaten the oil production of Wintershall Dea in the North African country, Mario Mehren, the chief executive of the European Continue Reading
Analysis: Setting an OPEC meeting date isn’t proving easy, what comes next could be harder
For all the geopolitical acrimony between the two countries, on the matter of OPEC oil production policy Saudi Arabia and Iran would appear aligned. Slumping prices and persistent builds in Continue Reading
Two oil tankers struck in suspected attacks in Gulf of Oman: shipping firms
Two oil tankers were hit in suspected attacks in the Gulf of Oman and the crews have been evacuated, shipping firms and industry sources said on Thursday, a month after Continue Reading
Two oil tankers struck in suspected attacks in Gulf of Oman: shipping firms
Two oil tankers were hit in suspected attacks in the Gulf of Oman and the crews have been evacuated, shipping firms and industry sources said on Thursday, a month after Continue Reading
Navy Responds to Suspected Attack on Oil Tankers in Gulf of Oman, Amid U.S.-Iran Tensions
Bermuda-based shipping firm Frontline Ltd said one of its vessels, Front Altair, was currently on fire in the Gulf of Oman and its crew had been safely evacuated from the Continue Reading
Oil Tankers Attacked Again in Gulf of Oman, Raising Fears of Wider Conflict
Oil tankers came under attack on Thursday in the Gulf of Oman, the Iranian news media and a shipping industry official said on Thursday, a month after four tankers were Continue Reading
Saudi Aramco Just Did Something It Never Did Before
Saudi Arabia’s state-run oil company Saudi Aramco has announced a new financial first for the giant: it will hold its very first earnings call in August revealing to the world Continue Reading
Iran Considers Removing Oil From Budget Due To ‘US Economic Terrorism’
Iran is considering revising its financial and budgetary policies to remove oil income from them as a means to “counter Washington’s economic sanctions that constitute a case of terrorism,” Iran’s Continue Reading
Nigeria: 2019 Budget Threatened As Oil Price Slumps to $60
The fundamentals of the 2019 budget are under threat as crude oil price slumped again yesterday to flatten at $60 per barrel, the same benchmark on which the N8.8 trillion Continue Reading
Sierra Leone: Fuel Scarcity in Freetown – Commercial Drivers, Workers, Pupils Stranded
Fuel scarcity has hit Sierra Leone’s capital, Freetown since Sunday, causing long queues at gas stations and hampering the movement of vehicles and goods across the country. Commercial drivers, motorbike Continue Reading
This Giant Oil Field Just Hit An Impressive Production Record
The giant Kashagan oil field in Kazakhstan hit a record-high oil production of 400,000 bpd on Tuesday, a few weeks after returning from planned maintenance, three sources familiar with the Continue Reading
Petrobras Plans $105 Billion In Investments Till 2023
Brazil’s Petrobras plans to invest a total US$105 billion in the five years to 2023 and divest assets worth US$35 billion, chief executive Roberto Castello Branco said this week as Continue Reading
Exxon Scales Up In Vaca Muerta, Drills 90 Wells
Exxon plans to drill 90 wells and produce 55,000 barrels of oil equivalent from an oil and gas block in Argentina’s Vaca Muerta shale play, the company said in a Continue Reading
China eyes energy revolution with the development of next generation ‘artificial sun’
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Indonesia starts testing 30% biodiesel in cars amid push to boost palm oil consumption
An aerial photo of a palm oil plantation in Batanghari, Jambi province, Sumatra island, Indonesia November 28, 2018. Antara Foto/Wahdi Septiawan/via REUTERS JAKARTA (Reuters) – Indonesia on Thursday began testing Continue Reading
Bankruptcies and slowdown hang over China’s electric car market
They have billions of dollars in funding, backing from China’s biggest tech companies and the world’s largest electric vehicle market at their doorstep. But Chinese EV start-ups face a struggle Continue Reading
U.S. crude stockpiles rise unexpectedly for second week: EIA
U.S. crude oil stockpiles rose unexpectedly for a second straight week, despite the highest refining rates in six months and lower imports and production, the Energy Information Administration said on Continue Reading
Some Republican Lawmakers Break With Party on Climate Change
A small but growing number of Republican lawmakers are urging action on climate change, driven by shifting sentiment among GOP voters and the effects of global warming, from stronger hurricanes Continue Reading