An Unexpected Boon For Alberta’s Oil Producers
Alberta light oil producers have been decimated over the last few years, and especially so in the last nine months following the “blow up” in the Canadian light oil differential Continue Reading
Signs Of Slower Permian Oil Growth Continue To Emerge
While U.S. shale production is booming and the Permian continues to set new production records , the pace of growth is slowing as many companies have recently scaled back production Continue Reading
FINANCE COSTS ARE KILLING THE SHALE INDUSTRY
If the rapid decline rate or the massive debt doesn’t destroy the U.S. Shale Industry, the finance costs most certainly will. The amount of interest expense the shale companies have Continue Reading
German North Sea wind power output rose 16% in January-June – TenneT
Power production from German North Sea wind farms from January to June totaled 9.51 terawatt hours (TWh), 16% more than in the same 2018 period, grid company TenneT GmbH said Continue Reading
Oil Prices Rise Amid Further Rig Count Decline
The US oil and gas rig count fell by 5 this week, according to Baker Hughes, after losing rigs last week as well. The total number of active oil rigs Continue Reading
Oil flat as tropical storm limits output, glut forecasts weigh
Oil prices were little changed on Friday as U.S. Gulf of Mexico crude output dropped by more than half from disruptions caused by a tropical storm, but concerns over a Continue Reading
WTI Tops $60 On Gulf Of Mexico Shut-Ins
Oil prices rose this week, pushed higher by geopolitical tension and the tropical storm in the Gulf Coast. Friday, 12th July 2019 Roughly 30% of Gulf of Mexico production shut Continue Reading
IEA sees oil market oversupplied in 2019 on U.S. production
urging U.S. oil output will outpace sluggish global demand and lead to a large stocks build around the world in the next nine months, the International Energy Agency (IEA) said Continue Reading
Is A Crude Glut Looming?
Crude oil supply in the world exceeded demand by 900,000 bpd in the first half of the year, the International Energy Agency said in its latest monthly Oil Market Report Continue Reading
Oil Supply Exceeds Demand in 1H
Oil supply exceeded demand by 0.9 million barrels per day (MMbpd) in the first half of 2019, according to the International Energy Agency’s (IEA) latest oil market report. In a Continue Reading
U.S. Threatens China With Sanctions On Iranian Oil Imports
The U.S. State Department has threatened China with sanctions because of its continued imports of Iranian oil—a move that was only to be expected but hardly the wisest one amid Continue Reading
Trump seeks block on ‘ghost ships’ smuggling Venezuelan oil to Cuba
Corruption has led to a collapse in productivity at PDVSA, the Venezuelan state oil giant “Ghost ships” laden with oil are plying the Caribbean between Venezuela and Cuba as private Continue Reading
Persian Gulf Skirmishes Force Tankers to Take Precautions Against Iran
On Thursday, a British-flagged tanker transited the Strait of Hormuz under naval escort, while another vessel off the coast of Saudi Arabia delayed crude-loading and appeared to await an escort, Continue Reading
China’s Crude Oil Imports Rise In June
Thanks to demand from the start-up of major refineries, Chinese crude oil imports in June have increased since May, and has increased by 15.2 percent from June last year, customs Continue Reading
U.S. oil drillers cut rigs for second week in a row: Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a second week in a row as drillers follow through on plans to cut spending this year. Continue Reading
Exclusive: Pentagon races to track U.S. rare earths output amid China trade dispute
The Pentagon is rapidly assessing the United States’ rare earths capability in a race to secure stable supply of the specialized material amid the country’s trade conflict with China, which Continue Reading
Permian Shale Boom Slowing Down
Producers in the nation’s oil-rich shale basins are dialing back growth plans in the face of a growing panoply of problems that’s killing returns, and keeping skeptical investors away. The constraints Continue Reading
Permian Leads US in Rig Count Decline
The U.S. dropped a net total of five rigs this week, according to Baker Hughes, a GE Company. The U.S. dropped a net total of five rigs this week, according Continue Reading
The Shale Boom in the Permian Is Slowing Down
The promise of the Permian is shrinking. Producers in the nation’s oil-rich shale basins are dialing back growth plans in the face of a growing panoply of problems that’s killing Continue Reading
U.S. refiners in path of Storm Barry to keep running
Most U.S. refiners with plants in the path of Tropical Storm Barry took steps on Friday to keep them running, as the second named storm of the season strengthened and Continue Reading
Rhine water levels hit 2-month low
Water levels along the Rhine river, a key waterway for transporting commodities and other products from coastal areas to inland locations in France, Germany and Switzerland, fell to their lowest Continue Reading
Why This Oil Rally Won’t Last
After weeks of gloom, the oil market is tightening up once again. But it’s not clear how long the upward cycle will last. OPEC admitted this week that it may Continue Reading
Oil lingers near six-week highs amid Gulf of Mexico storm, Middle East tensions
Oil prices hovered near six-week highs on Friday and was on track for a weekly gain as U.S. oil producers in the Gulf of Mexico cut more than half their Continue Reading
Oil falls on dim OPEC demand outlook, pares gains from Gulf of Mexico storm
Oil prices fell on Thursday as OPEC forecast slower demand for its crude next year, with crude futures easing from their highest in more than a month after U.S. producers Continue Reading
Oil & Gas Discoveries Rise In High-Risk Oil Frontiers
Global discoveries of conventional oil and gas continue to show promising growth, with new finds totaling 6.7 billion barrels of oil equivalent (boe) in the first half of 2019, according Continue Reading
OPEC Oil Production Drops In June On New Supply Outages
OPEC’s oil production dropped by another 68,000 bpd to 29.83 million bpd in June, as output from Iran and Libya—exempt from the production cut pact—and other members offset large increases Continue Reading
OPEC sees lower 2020 demand for its oil, points to surplus
OPEC on Thursday forecast world demand for its crude will decline next year as rivals pump more, pointing to the return of a surplus despite an OPEC-led pact to restrain Continue Reading
Shine On: Solar Power is Eclipsing Coal, Oil, Gas and Nuclear Energy with Rapid Growth and Cost Reductions
A heatwave across Europe was a reminder of the dangers of climate breakdown, but also of the enormous opportunities for tapping into the clean renewable energy that can replace the Continue Reading
Assad hits a wall in Syrian war as front lines harden
President Bashar al-Assad’s assault in the northwest has been met with a painful rebel counterpunch that underlines Turkish resolve to keep the area out of his hands and shows why Continue Reading
US to sanction China if Iranian crude trade continues: State
US views Chinese imports as weakening ‘maximum pressure’ China importing an estimated 150,000-200,000 b/d of Iranian crude The US will sanction China if it continues to import Iranian crude in Continue Reading
Iran calls on Britain to release seized oil tanker immediately
Iran called on Britain on Friday to immediately release an oil tanker that British Royal Marines seized last week on suspicion it was breaking European sanctions by taking oil to Continue Reading
The No.1 Reason Why The Saudis Won’t Ditch The Aramco IPO
Last week Saudi Arabia announced that it is to launch its first Euro-denominated bonds shortly, following the recent bond issue from Saudi Aramco. At around the same time, the effective Continue Reading
Nigeria: Security Remains Major Challenge in Niger Delta – Oil Giant Shell
Yenagoa — Shell Petroleum Development Company of Nigeria Limited (SPDC) has said security remains a major challenge occasioned by continuing crude oil theft and vandalism of oil and gas facilities Continue Reading
Nigeria Loses $12bn Yearly to Oil Theft, Stakeholders Seek Govt Action
Nigeria loses between $7 billion and $12 billion to crude oil theft annually, a study by the Nigeria Natural Resource Charter (NNRC) has found, prompting reactions from stakeholders on the Continue Reading
New tax breaks planned for Mexico’s indebted Pemex
The Mexican government will propose an additional tax reduction for heavily indebted state oil company Pemex [PEMEXF.UL] in the nation’s 2020 budget, President Andres Manuel Lopez Obrador said Thursday, the Continue Reading
Venezuela Faces More Outages As Trump Admin Mulls Escalation
A recent blackout in Venezuela disrupted operations at PDVSA’s 940,000 barrel-per-day refining complex, threatening to exacerbate fuel shortages that have already become commonplace in the country. The incident came after Continue Reading
Nuclear Is Japan’s Only Choice For Energy Independence
Japan has adopted a peaceful approach towards nuclear technology , limiting it to the use of supplying electricity. This is despite being the only nation to have suffered devastating effects Continue Reading
Intensifying storm shuts U.S. coastal refinery, adding to energy production losses
Threatened flooding from a tropical storm in the U.S. Gulf of Mexico that cut nearly a third of the region’s oil production has forced the shutdown of a coastal refinery, Continue Reading
Canada, the fourth biggest oil nation, may be the world’s least energy secure
Cheap, clean, safe and secure. Whether it’s petroleum products, natural gas or electricity, that’s how we like our energy. But we’re never really satisfied, are we? Our wallets feel picked by Continue Reading
US oil, gas rig count falls by 17 to 1,040 after holiday weekend:
Rig pattern still zigzags but becoming more settled US land rig visibility ‘murky’ before Q2 earnings start Permian falls six to 440 in biggest basin decline Houston — The US Continue Reading
Tropical Storm Barry shuts about half of Gulf of Mexico oil, gas output: US BSEE
US offshore drillers have shut 1 million b/d, or 53%, of Gulf of Mexico oil production and 1.2 Bcf/d, or 45%, of natural gas output as Tropical Storm Barry heads Continue Reading
Climate Change Fills Hurricanes With More Rain, Analysis Shows
Ryan Pasternak When a tropical storm is approaching, its intensity or wind speed often gets the bulk of the attention. But as Tropical Storm Barry bears down on the Gulf Continue Reading
Sen. Warren Proposes SEC Crackdown On Oil & Gas
Oil and gas companies could face greater regulatory pressure to disclose their financial risks to climate change in a Democratic administration. Senator Elizabeth Warren (D-MA) reintroduced legislation this week that Continue Reading
U.S. to extend nuclear reactor lifespans in bid to revive industry
The United States plans to extend the lifespans of existing nuclear reactors and support new technologies as it seeks to revive an industry seen as crucial to its energy security, Continue Reading
U.S. oil makes it to Ukraine in another blow to Moscow
U.S. crude exports are gaining traction in Europe as even Ukraine turns into a significant consumer of American barrels at the expense of Russian supplies amid heightened U.S. political pressure Continue Reading
Iran tensions highlight long-term UK energy supply risk
Iran’s alleged attempt to disrupt the passage of a UK crude tanker through the Persian Gulf has added to fears in oil markets, boosted prices and raised insurance costs for Continue Reading
Oil at six-week high on Gulf of Mexico storm, Iran tensions
Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in Continue Reading
WTI Spikes Above $60 For First Time In Nearly Two Months
Oil prices spiked on Wednesday afternoon after the Energy Information Administration (EIA) reported a significant decrease in crude oil inventories in the United States, combined with the threat of oil Continue Reading
The Bullish Case For Oil
Oil demand is looking shaky , and cracks in the global economy are also a major headwind, but there is a case to be made that oil prices could rise Continue Reading
Oil prices jump 4.5% on U.S. crude stocks draw, Gulf of Mexico storm
Oil prices rose 4.5% a barrel on Wednesday to their highest level in more than a month after U.S. crude inventories shrank and as major producers cut nearly a third Continue Reading