Iran has passed the 3.67% uranium enrichment cap set by its landmark 2015 nuclear deal and may enrich at even higher levels, the spokesman for Iran’s Atomic Energy Organisation, Behrouz Continue Reading
A second Turkish drillship, which is expected to begin drilling for oil and natural gas near Cyprus this week, arrived off the Mediterranean island’s northeastern coast on Monday, Refinitiv Eikon Continue Reading
Britain’s seizing of an Iranian oil tanker last week was a threatening act that will not be tolerated, Iran’s Defence Minister Amir Hatami said on Monday in a speech broadcast Continue Reading
The first half of the year is in the books. Following its best quarterly performance in nearly ten years in the first quarter, the S&P 500 returned 3.8 percent in Continue Reading
As the refugee exodus from once-wealthy Venezuela accelerates, concerns are mounting over the extent to which US economic sanctions are exacerbating the suffering of a population already beset by shortages Continue Reading
The possibility of Iran attempting to close the Strait of Hormuz to tanker traffic has increased significantly in recent weeks, as has the possibility of a Persian Gulf War, especially Continue Reading
SINGAPORE/BEIJING (Reuters) – China’s fuel producers are making extended curbs to their output in the third quarter after supply from mammoth new refineries stoked an already-sizeable glut, potentially dragging on Continue Reading
A form of cognitive dissonance seems to be taking over oil market watchers, a sort of a blind belief that US shale oil production is set to grow, and grow Continue Reading
U.S. oil production continues to grow, but the shale industry is in the midst of deceleration as low oil prices and a financial squeeze slow the pace of drilling. The Continue Reading
The economy was supposed to get a lift this year from higher government spending enacted in 2018, but so far much of that stimulus hasn’t shown up, puzzling economists. Federal Continue Reading
America is awash in natural gas. In parts of the country there’s hardly a drop to burn. Earlier this year, two utilities that service the New York City area stopped Continue Reading
As the nation celebrated its independence, a new report from Texans For Natural Gas details how the Lone Star State and the Permian Basin have led to a national independence Continue Reading
Volkswagen will create joint ventures and help finance battery production to persuade skeptical cell suppliers to back its aggressive push for mass producing electric vehicles, board member Stefan Sommer told Continue Reading
Almost half of the electric-scooter companies in Paris have suspended or scaled back operations in the past week, after the French capital’s mayor swore to crack down on the “anarchy” Continue Reading
Concerns about weakening global economy and oil demand growth trumped simmering U.S.-Iran tensions and OPEC and allies’ rollover of the production cuts into 2020, sending oil prices early on Friday Continue Reading
Oil futures rose on Friday as tensions over Iran and an extension to output cuts by OPEC and its allies boosted prices, but mixed economic data limited the rally. Brent Continue Reading
The data for the charts below were taken from the EIA’s Monthly Energy Review . It is crude plus condensate through March 2019 and is in thousand barrels per day. Continue Reading
OPEC’s crude oil production dropped to below 30 million bpd in June, down by 170,000 bpd from May and the lowest monthly output since April 2014, as higher Saudi oil Continue Reading
OPEC oil output sank to a new five-year low in June as a rise in Saudi supply did not offset losses in Iran and Venezuela due to U.S. sanctions and Continue Reading
An Iranian Revolutionary Guards commander threatened on Friday to seize a British ship in retaliation for the capture of an Iranian supertanker by Royal Marines in Gibraltar. A “If Britain Continue Reading
A.P. Moller-Maersk has joined other major container shipping companies in increasing prices for sending containers into the Persian Gulf in response to the heightened risk of military conflict in the Continue Reading
Saudi Arabia has pumped 9.782 million barrels of oil per day (bpd) in June, an OPEC source said on Friday, up from 9.67 million bpd in May. The world’s top Continue Reading
Britain should be “scared” about Tehran’s possible retaliation for the capture of an Iranian supertanker by Royal Marines in Gibraltar, the Fars semi-official news agency on Saturday reported an Iranian Continue Reading
Iran is prepared to begin enriching uranium beyond the limits set by the nuclear deal it struck with world powers, a top aide to Supreme Leader Ali Khamenei said, ahead Continue Reading
A Nigerian court has ordered the seizure of $40 million of luxury items, mainly jewelry and a customized golden iPhone belonging to the ex-minister of Nigeria’s petroleum resources Diezani Alison-Madueke, Continue Reading
Emilio Lozoya was Pemex’s chief executive until 2016 An arrest warrant has been issued for Emilio Lozoya, former chief executive of Mexican state oil company Pemex, prosecutors say. He is Continue Reading
General Motors Co ( GM.N ) and Ford Motor Co ( F.N ) announced their quarterly sales in China fell, albeit at a slower pace sequentially, as the U.S. automakers Continue Reading
These interactive presentations contain the latest oil & gas production data from all 21,384 horizontal wells in the Permian (Texas & New Mexico) that started producing since 2008/2009, through March Continue Reading
The US oil and gas rig count fell by 4 this week, according to Baker Hughes, which reported before Independence Day this week. The total number of active oil rigs Continue Reading
Oil prices are set to post a loss for the week despite being bolstered by the OPEC+ deal and the forthcoming restart of trade talks between Washington and Beijing. It Continue Reading
Two years ago, Encana Corp. unveiled a supersize fracking operation that many said would represent the future of the U.S. drilling boom. To reduce costs and avoid production problems that Continue Reading
Spending by big US companies on plants and equipment is waning as the sug; rush from last year’s tax cut wears off and the trade stand-off with China damps confidence Continue Reading
The predicted temperatures for Sunday in Celsius compared to normal temperatures. (TropicalTidbits.com) On Independence Day, the temperature in Anchorage soared higher than at any other time on record as a Continue Reading
U.S. job growth rebounded strongly in June as government hiring surged, but persistent moderate wage gains and mounting evidence that the economy was losing momentum could still encourage the Federal Continue Reading
Russia reduced oil production in June by more than the amount agreed in a global deal to cut output, the energy minister and industry sources said on Monday, as the Continue Reading
Poland’s biggest oil refiner PKN Orlen is calculating losses related to tainted Russian oil supplies and will submit its claims within weeks, the chief executive said on Friday. Russia halted Continue Reading
The heat wave that smothered much of Europe at the end of June helped raise average global temperatures to a record for the month, a European weather forecasting agency has Continue Reading
Just days after Russia said it had fully resumed oil flows to Europe via the Druzhba pipeline after a major disruption in supplies due to crude contamination in April, a Continue Reading
Crude oil futures were stable to lower during mid-morning trade in Asia on Friday as economic growth and demand related concerns continued to pressure prices lower, while market participants waited Continue Reading
U.S. benchmark crude prices fell on weak economic indicators on Friday while Brent oil ticked higher, supported by tensions over Iran and this week’s decision by OPEC and its allies Continue Reading
Oil prices fell in thin trade on Thursday, weighed down by data showing a smaller-than-expected draw on U.S. crude stockpiles and worries about the global economy. Front-month Brent crude futures Continue Reading
This sense that ships effectively have no true home is why the industry was excluded from the 2015 Paris Agreement among countries to cut greenhouse gas emissions. Shipowners instead offered Continue Reading
The world needs to get to the point at which it will no longer add to the stock of greenhouse gases, and reducing emissions to net zero “is the only Continue Reading
British Royal Marines seized a giant Iranian oil tanker in Gibraltar on Thursday for trying to take oil to Syria in violation of EU sanctions, a dramatic step that drew Continue Reading
Libya’s United Nations-backed government blamed the United Arab Emirates for an airstrike that killed more than 50 people in Tripoli this week, suggesting a new level of foreign intervention in Continue Reading
Germany is working hard to reach the point where the first transactions can be carried out under a special trade channel being set up to enable trade between Iran and Continue Reading
While the Trump administration has increased economic pressure on Iran to deter the country from obtaining nuclear weapons, President Trump and North Korean leader Kim Jong Un agreed to restart Continue Reading
The oil tanker is suspected of carrying crude oil to Syria An Iranian official has said a British oil tanker should be seized, if a detained Iranian ship is not Continue Reading
Kazakhstan has snubbed a top Chevron official over unrest at the giant Tengiz oil field, operated by the company’s Kazakh joint venture Tengizchevroil (TCO), as new President Kassym-Jomart Tokayev welcomed Continue Reading
Transmission line connects Xinjiang to Anhui Thermal coal burn to fall by 30 million mt/y China’s thermal coal demand is likely to fall once the world’s longest ultra-high voltage transmission Continue Reading
