Asia fuel oil premiums surge to record as global sulfur shift looms
High sulfur fuel oil premiums in Asia surged to a record on Thursday, one of the first signs of the impact of a shift in global ship fuel rules set Continue Reading
The Secret To Avoiding Another Nuclear Disaster
Three Mile Island, Fukushima, Chernobyl. While nuclear accidents are extremely rare, they loom large in the public conscience, making nuclear energy a hard sell for many constituents, despite its numerous Continue Reading
Shale Industry Has Destroyed 80% Of Its Value Since 2008
Recently, the former CEO of the largest shale gas producer in the United States told a roomful of conference goers what any competent financial analysis would have revealed many years Continue Reading
Governor Walz lifts transport limits to combat fuel shortages
Citing a fuel shortage in the state of Minnesota, Gov. Tim Walz has issued an emergency executive order that lifts some restrictions for drivers of commercial vehicles who are providing Continue Reading
Why Natural Gas Prices Collapsed
U.S. natural gas prices have collapsed since the end of winter, even as inventory levels remain below average levels for this time of year. Henry Hub prices spiked in the Continue Reading
Russia remains top crude supplier to China’s independent refineries in June
Russia remained as the top crude supplier to China’s independent refineries in June — the second consecutive month — with 2.32 million mt arrived, far outpacing the second supplier in Continue Reading
Oil prices fall on signs of slowing U.S. demand, economic concerns
Oil prices fell 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 LCOc1, the international Continue Reading
Crude oil futures slide as demand concerns outweigh stocks fall
Crude oil futures were lower during mid-morning trade in Asia Thursday despite a fall reported in US crude stocks, as market participants remained focused on growth and demand related concerns. Continue Reading
Oil prices climb as U.S. equities rally, rig count drops
Oil prices edged higher on Wednesday ahead of a U.S. holiday, after falling steeply a day earlier as worries about a slowing global economy outweighed a decision by OPEC and Continue Reading
Peak Oil Demand Is Coming, Will Transform Exploration Sector
The global trend toward alternative energy sources and shifting stakeholder sentiments could mark the demise of the oil and gas exploration sector. It may also represent an opportunity to transform. Continue Reading
Will OPEC Cuts Trigger New Wave Of US Shale Oil?
Excess inventories, weakening demand growth, and oil prices some $15 a barrel lower than this time last year left OPEC and its allies little choice but to roll over their Continue Reading
Trade Deal Could Send Oil To $75
While OPEC and its allies successfully reached a deal to extend its production cut quotas into 2020, the oil price response was markedly disappointing, leaving the market to wonder if Continue Reading
The Real Reason Why ExxonMobil Won’t Go Ahead With $53 Billion Iraqi Megaproject
Last week a small news item went largely unnoticed by the international media but it hints at the real – and until now unpublished – reason why ExxonMobil has not Continue Reading
Oil supertanker bound for Syria detained in Gibraltar
Gibraltar said on Thursday it had detained the supertanker Grace 1 on suspicion of carrying crude oil to Syria in what a legal source said may be the first such Continue Reading
Trump administration lays broad legal grounds for military strike on Iran
As it has contemplated military action against Iran, the Trump administration has opened the door to virtually every legal authority it might use to justify an attack, from tying Iran Continue Reading
Is This A Turning Point In Libya’s Civil War?
Libya’s civil war has taken a catastrophic turn, plunging the country even deeper into crisis. An airstrike hit a detention center for migrants on the outskirts of Tripoli, killing at Continue Reading
Iraq hits half-year oil revenue target
Iraq’s oil exports dropped by 3.5 percent between May and June, though nationwide oil sales – of 3.946 million barrels per day (bpd) * – remain near record levels. Halfway Continue Reading
Pemex Pursues Deepwater Oil Despite Pledges To Play It Safe
Mexico’s state oil firm Pemex plans to pursue an ultra-deepwater project in the Gulf of Mexico despite limited resources and despite recent pledges to avoid riskier endeavors in which it Continue Reading
US sanctions Cuba’s state-owned oil company for continuing Venezuelan imports
The US Treasury Department said Wednesday it has sanctioned Cubametales, Cuba’s state-run oil import and export company, for continuing to import crude and other products from Venezuela in exchange for Continue Reading
Rouhani Says Iran Will Begin Enriching Uranium at Higher Level in Days
Iran will “take the next step” on Sunday and begin to enrich uranium beyond the levels specified under its 2015 accord with the United States and other global powers, President Continue Reading
U.S. Considers Allowing China To Import Oil From Iran
The U.S. Department of State is discussing allowing China to import oil from Iran as payment for a Chinese company’s investment in an Iranian oilfield, Politico reported on Wednesday, citing Continue Reading
Future tense: Fastest-growing market Asia rethinks coal’s prospects
After riding China’s demand train for nearly two decades, Asia’s coal industry is looking to a future of smaller markets and slimmer pickings, as buying declines in the world’s second-biggest Continue Reading
China says existing U.S. tariffs must be removed for a trade deal
Existing U.S. tariffs will have to be removed if there is to be a trade deal between Beijing and Washington, China’s commerce ministry said on Thursday. The leaders of the Continue Reading
Trump officials say U.S.-China trade talks to resume next week
Top representatives of the United States and China are organizing a resumption of talks for next week to try to resolve a year-long trade war between the world’s two largest Continue Reading
Crude and gasoline stockpiles down less than expected in week: EIA
NEW YORK (Reuters) – U.S. crude and gasoline stockpiles fell less than forecast last week, while distillate inventories rose unexpectedly, the Energy Information Administration said on Wednesday. FILE PHOTO: Crude Continue Reading
Crude and gasoline stockpiles down less than expected in week: EIA
U.S. crude and gasoline stockpiles fell less than forecast last week, while distillate inventories rose unexpectedly, the Energy Information Administration said on Wednesday. Crude pared gains after the report. U.S. Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending June 28, 2019 U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending June 28, 2019, Continue Reading
US Oil And Gas M&A Remains Lackluster
While the value of mergers and acquisitions in the oil and gas sector in Q2 was greater than in Q1, they are still unremarkable, considering that almost 90% of the Continue Reading
US natural gas in underground storage rises 89 Bcf to 2.390 Tcf: EIA
US natural gas in storage rose 89 Bcf to 2.390 Tcf for the week ended Friday, the US Energy Information Administration reported Wednesday. The injection was more than an S&P Continue Reading
Oxy-Anadarko Deal Anchors Muted M&A Rebound in 2Q
Drillinginfo analysis finds that U.S. M&A deal value rebounded to $65 billion in the second quarter, driven largely by the Oxy-Anadarko deal. Coming off a 10-year low in the first Continue Reading
Anchorage Has Never Reached 90 Degrees. That Could Change This Week.
Joshua Corbett for The New York Times In more than 100 years of Anchorage history, weather stations have never recorded a single 90-degree reading. If current forecasts hold, it could Continue Reading
Gloomy Investor Sentiment Darkens Outlook For Oil & Gas
U.S. oil production rose by another 246,000 bpd in April, compared to a month earlier, according to the EIA . But the industry outlook continues to darken. Those production gains Continue Reading
A giant heat dome over Alaska is set to threaten all-time temperature records
Upper-level high pressure is maxed out and anchored over southern Alaska Friday evening per model simulations. (TropicalTidbits.com) All-time heat records are at risk in Alaska in coming days as a Continue Reading
Auto sector targets EV charging infrastructure in bid to speed growth
With more auto makers investing big in the electric vehicle space, consumers and forecasters continue to fret over the ability to actually charge these shiny new cars. Worries about the Continue Reading
Q2 a cautious period for upstream E&Ps, but little change seen for rest of 2019
Second-quarter 2019 was a cautious quarter for US upstream operators, and little change is expected in the second half of the year apart from the Permian Basin in the Q3 Continue Reading
Europe boosts gasoline exports to U.S. after PES refinery fire
Gasoline exports from Europe to the U.S. East Coast rose sharply in early July after a fire at a major refinery in Philadelphia left a supply shortage in the densely Continue Reading
Crude oil futures higher on bullish US stocks data, OPEC+ supply deal
Crude oil futures were higher during mid-morning trade in Asia Wednesday after a reported draw in weekly US crude inventory data, while the decisions by OPEC and its allies to Continue Reading
Oil dives 4% on demand worries even as OPEC, allies extend cuts
Oil prices fell more than 4% on Tuesday, even after OPEC and allies including Russia agreed to extend supply cuts until next March, as weak manufacturing data had investors worried Continue Reading
Profit-taking and demand growth concerns send oil sharply lower
Oil futures settled sharply lower Tuesday as pre-holiday profit-taking exacerbated downward pressure stemming from emboldened demand growth concerns. NYMEX August WTI settled down $2.84 at $56.25/b and ICE September Brent Continue Reading
World leaders sound climate alarm
Climate change is becoming the 21st century’s “nuclear war”, in the sense of being an existential problem which poses an imminent global risk, a collection of senior world leaders have Continue Reading
Analysis: Oil traders yawn at triumphal OPEC, ministers say trust the process
OPEC and its partners came into their meetings this week in Vienna aiming to show the oil market some muscle; they left with oil prices falling. The 24-country coalition, which Continue Reading
Is This The Beginning Of The End For OPEC?
Early on Tuesday, following their meeting in Vienna, the Organization of Petroleum Exporting Countries (OPEC) announced a nine-month extension to the existing agreement to limit oil production. The initial deal Continue Reading
Banks scramble to re-pitch for Aramco IPO roles: sources
Investment banks are scrambling to re-pitch to advise Saudi Aramco on a possible initial public offering, sources familiar with the matter said, with Saudi Arabia’s energy minister confirming plans for Continue Reading
Caught In The Middle: Iraq’s Struggle For Energy Independence
The U.S. invasion of Iraq in 2003 completely altered the geopolitical landscape of the Middle East. After Saddam’s forces were defeated, a violent insurgency led to the deaths of 4,487American soldiers Continue Reading
”Maximum Pressure” Campaign Fails To Kill Off Iran’s Oil Exports
U.S.-Iran tensions are once again heating up, even as Iran has so far managed to stabilize oil exports at lower levels. Iran has officially breached the limits of low-enriched uranium Continue Reading
Iraq hits half-year oil revenue target
Iraq’s oil exports dropped by 3.5 percent between May and June, though nationwide oil sales – of 3.946 million barrels per day (bpd) * – remain near record levels. Halfway Continue Reading
Nigeria: 30 Killed, Many Injured As Tanker Explodes in Benue
About 30 persons were on Monday killed while over 60 suffered various degrees of burns while scooping Premium Motor Spirit, PMS, also known as fuel from a loaded truck that Continue Reading
Shell, Nigerian communities agree to reopen oil flow station, says official
International oil major Shell and Nigerian stakeholder communities agreed to reopen the flow station for the Oil Mining Licence 25, the regional Rivers state governor said. Shell also agreed in Continue Reading
Venezuela Oil Exports Rebound In June As China Takes Most Crude
Venezuela exported 1.1 million bpd of crude oil and refined oil products in June, up by 26 percent from May, thanks to higher shipments under oil-for-loan deals with China, Reuters Continue Reading
Pemex’s Corruption Crackdown Has Investors Scrambling To Get Out
Mexico’s leftist president Andrés Manuel López Obrador won the election in a landslide last year, thanks in large part to his promise to crack down on corruption throughout the Mexican Continue Reading