PE Boss Says Shale Will Deliver Returns This Year
This is the year when shale drillers are finally going to deliver solid returns to investors that have grown weary of the industry’s decade-long cash burn, the head of explorer Continue Reading
Protesters Rally to Support Longest Strike in French History
Hundreds of thousands of protesters flooded the streets on Thursday to show support for what has become the longest transport strike in French history, testing President Emmanuel Macron’s resolve to Continue Reading
German exports to Iran roughly halved in January-November 2019 due to U.S. sanctions
German exports to Iran roughly halved in the first 11 months of 2019 compared with the same period in the previous year due to U.S. sanctions, preliminary data from the Continue Reading
Why Russia Should Exit The OPEC+ Deal
Having exited the deal, Russia will be able to overcome stagnation in oil production, which threatens to become the longest since Soviet times. Despite a 9 percent decrease, Urals spot Continue Reading
Crude oil futures higher amid bargain hunting, supply risks remain
Crude oil futures moved higher during mid-morning trade in Asia Thursday on mild bargain-hunting after Wednesday’s sell-off that saw markers fall by more than $2/b, while analysts warned that supply Continue Reading
Oil edges higher after previous day’s plunge
Oil prices edged higher on Thursday, clawing back some of the sharp losses made in the previous session on the back of easing fears of an escalation in the conflict Continue Reading
Oil dives on soothing words from U.S., Iran and on U.S. crude build
Oil futures fell more than 4% on Wednesday in a wild swing, soaring close to a four-month high in early trade on an Iranian rocket attack on U.S. forces in Continue Reading
Oil Tanks As Trump Claims Iran Is Standing Down
Oil prices fell on Wednesday afternoon after US President Donald Trump announced that Iran was backing off its retaliatory stance, and was, as the US President put it, “standing down”. Continue Reading
Billions In Worthless Assets Plague The Oil & Gas Industry
Investors, pension funds and companies need to get ahead of the financial risk from climate change, as many fossil fuel assets risk becoming worthless. “We can’t have a financial sector Continue Reading
Trump avoids escalating crisis, says Iran is ‘standing down’
U.S. President Donald Trump on Wednesday backed away from days of angry rhetoric against Iran as the two countries tried to defuse a crisis over the American killing of Iranian Continue Reading
OPEC+ monitoring Middle East turmoil, but oil market ‘well-supplied’, says UAE
OPEC+ officials say they see no need to reverse their production cuts in the face of heightened geopolitical tensions in the Middle East, with UAE energy minister Suhail al-Mazrouei declaring Continue Reading
Shipowners may avoid Persian Gulf; war risk premia spike
The cost to deliver commodities is set to rise as additional war risk premia on merchant ships in the Middle East has shot up significantly this week, while security concerns Continue Reading
Petrobras suspends ship transit via Strait of Hormuz on Middle East tensions
Brazilian state-run oil firm Petrobras suspended its shipping routes through the Strait of Hormuz, including bunker hub Fujairah, as tensions in the Middle East escalate after a US drone strike Continue Reading
Saudi Tanker Group Halts Strait Of Hormuz Route
Amid the rising tension in the Middle East, Saudi Arabia’s tanker and logistics group Bahri has suspended transits through the Strait of Hormuz, the world’s most important oil chokepoint which Continue Reading
Trump administration works on Iraq sanctions, but analysts warn of consequences
Following President Trump’s warning earlier this week, administration officials are in the preliminary stages of developing sanctions on Iraq, a path the president could legally set upon but could create Continue Reading
Iran’s leader says he wants US out of the Middle East
Iran’s Supreme Leader Ayatollah Ali Khamenei said Wednesday that the US should leave the Middle East after the US killing of a top Iranian military general last week. “An important Continue Reading
Iran Strikes Reverberate Across Persian Gulf Economy
Iran fired missiles at American troops in Iraq in response to the U.S. killing of its top military commander Qassem Soleimani. While Iran’s supreme leader pledged further attacks, the overnight Continue Reading
Iraq Knew The U.S. Attack Was Going To Happen
Iraq said on Wednesday that it had been notified by Iran that Tehran had launched a retaliatory strike against U.S. troops in Iraq to avenge the killing of top Iranian Continue Reading
Iraq again sets oil export record in 2019
Iraq set an all-time record for annual oil sales in 2019, as the federal government and autonomous Kurdistan Regional Government (KRG) combined for an average 3.968 million barrels per day Continue Reading
Is Iraq About To Become A Chinese Client State?
Following the political and popular backlash in Iran over details of its plans to make the Islamic Republic effectively a client state through various multi-layered oil and gas deals, China Continue Reading
U.S. sanctions threats cast shadow on Iraqi economy
Billions of oil dollars and access to Iranian power and gas are at risk if Trump rejects a sanctions waiver renewal next month – or worse, if Iraq is sanctioned Continue Reading
Iraqi oil output steady at 4.46 mil b/d, in line with OPEC quota: ministry
Iraq’s crude production is steady at 4.46 million b/d in line with its OPEC quota and has not been affected by recent events in OPEC’s second largest oil producer, an Continue Reading
EU pushes Libya’s PM Serraj for ceasefire, warns on Turkey deal
European leaders warned Libya’s internationally recognized prime minister on Wednesday against allowing Turkish troops on Libyan soil or agreeing to a natural gas deal with Turkey to avoid worsening the Continue Reading
Russia And Turkey Call For Ceasefire In War-Torn Libya
With Putin in Turkey on Wednesday ceremonially launching the much-anticipated offshore pipeline TurkStream, which will supply Russian gas to Turkey and southern Europe, it’s actually events in Libya and Syria Continue Reading
Nigeria: Oil Price – Govt Revenue Shrinks As Petrol Subsidy Rises
Lower amounts of revenue might be available for sharing by the three tiers of government through the Federation Accounts Allocation Committee (FAAC) in the coming months as the cost borne Continue Reading
How Rupert Murdoch Is Influencing Australia’s Bushfire Debate
Deep in the burning forests south of Sydney this week, volunteer firefighters were clearing a track through the woods, hoping to hold back a nearby blaze, when one of them Continue Reading
Australia calls for another mass evacuation as monster bushfires return
Australian authorities urged another mass evacuation across the heavily populated southeast on Thursday as a return of hot weather fanned huge bushfires threatening several towns and communities. Victoria state Premier Continue Reading
Tesla’s market value eclipses GM and Ford – combined!
For the first time, Tesla Inc’s stock market value has eclipsed the combined values of General Motors Co and Ford Motor Co ( F.N ). The Silicon Valley electric car Continue Reading
US natural gas production edges back from highs as low prices weigh on drilling
Highlights 30-day average dips to 91.8 Bcf/d, down 1.7% from record Appalachia leads decline in dry gas output, drilling New York — US natural gas production has retreated from record-high Continue Reading
North Dakota Bakken Flaring Nearly 20% Of Its Natural Gas Production
The insanity continues in the North Dakota Bakken, as the shale industry is flaring nearly 20% of its natural gas production. That is one hell of a lot of natural Continue Reading
Exxon, Outrigger Ink Midstream Deal to Serve Bakken
ExxonMobil Corp.’s subsidiary XTO Energy, Inc. has entered into a long-term gas gathering and processing agreement with private midstream company Outrigger Energy II under which Outrigger will build a cryogenic Continue Reading
U.S. outlines strong support for self-driving cars at CES
The Trump administration on Wednesday signaled strong support for self-driving vehicles as it released new guidance from federal agencies at the annual CES tech conference. U.S. Transportation Secretary Elaine Chao Continue Reading
The Latest Texas Oil Boom Has Sent Emissions Soaring
The ongoing growth of fracking in the U.S., plus the related buildout of pipelines, refineries and petrochemical plants, will release the equivalent of 50 new coal-fired power plants over the Continue Reading
‘Deja vu’ for Colorado’s oil and gas industry as group files new ballot initiatives
Last April, Colorado Governor Jared Polis (D) said, “…it is our hope that the oil and gas wars that have enveloped our state are over,” but the conflict appears far Continue Reading
Stanford Study Says Renewable Power Eliminates Argument for Using Carbon Capture with Fossil Fuels
New research from Stanford University professor Mark Z. Jacobson questions the climate and health benefits of carbon capture technology against simply switching to renewable energy sources like wind and solar. Continue Reading
Barclays pressured by shareholders to cut fossil fuel financing
A group of Barclays shareholders coordinated by responsible investment lobby group ShareAction want the bank to phase out financing fossil fuels, stepping up pressure on one of Europe’s biggest funders Continue Reading
The Tragedy of Germany’s Energy Experiment
Are the Germans irrational? Steven Pinker seems to think so. Professor Pinker, a Harvard psychologist, told the German newsmagazine Der Spiegel recently that if mankind wanted to stop climate change Continue Reading
Is Europe’s Latest Gas Deal A Win-Win?
The recent gas transit deal between Russia and Ukraine, and their national gas companies Gazprom and Naftogaz respectively, has comforted Europe just about when the first cold spells started to Continue Reading
Russia’s Putin, Turkey’s Erdogan Launch TurkStream Gas Pipeline
The Presidents of Russia and Turkey, Vladimir Putin and Recep Tayyip Erdogan, respectively, officially launched on Wednesday the TurkStream natural gas pipeline designed to ship Russian gas to Turkey and Continue Reading
Emerging US-Russia duopoly aids European, UK LNG import record
Intensifying competition between the United States and Russia is driving record-breaking LNG imports into Europe’s most liquid natural gas trading hubs, with the rivals accounting for more than half of Continue Reading
French unions call on ports to halt work for 72 hours from Thursday
The Federation of Port and Dock Workers, part of France’s CGT labor union, has called for a 72-hour stoppage of port operations from Thursday, it said Wednesday. It had previously Continue Reading
Wildcat Well Comes Up Dry In Norwegian Sea
German energy group Wintershall Dea found no gas in the second wildcat exploration well that it has drilled in one license in Norway’s Norwegian Sea, after it found gas at Continue Reading
Oil prices shed gains as alarm over Iran rocket strike fades – for now
Prices gave up most of their early gains as analysts said market tension could ease as long as oil production facilities remain unaffected by attacks. Tweets by U.S. President Donald Continue Reading
Oil pares morning gains; supported on US-Iran tensions
Crude oil futures retreated from early morning highs in the mid-afternoon trade in Asia Wednesday but remained supported after Iran launched missiles on two US military bases in Iraq in Continue Reading
March ICE Brent spikes more than $3/b as Iranian missiles strike US bases in Iraq
Front-month March ICE Brent crude oil futures surged more than $3/b to hit a high of $71.75/b at Wednesday’s Asia open, after Iran launched missiles striking two US military bases Continue Reading
Iran Fires on U.S. Forces at 2 Bases in Iraq, Calling It ‘Fierce Revenge’
Iran attacked two bases in Iraq that house American troops with a barrage of missiles early Wednesday, Iranian official news media and United States officials said, fulfilling Tehran’s promise to retaliate Continue Reading
Soaring Gasoline, Distillate Inventories Offset Large Crude Draw
The American Petroleum Institute (API) has estimated a large crude oil inventory draw of 5.95 million barrels for the week ending January 3, compared to analyst expectations of a smaller Continue Reading
Tanker Operators Don’t Expect Ships to Be Targeted in U.S.-Iran Showdown
Tanker operators don’t expect their ships to be targeted in the near term amid the growing tensions between the U.S. and Iran as daily freight and insurance rates hold steady Continue Reading
Infographic: Strait of Hormuz shipping rates climb on oil tanker threat from Iran
The US has warned flagged vessels in the Middle East of possible retaliatory attacks from Iran. Tanker freight rates have hit three-month highs for vessels using the 21-mile-wide Strait of Continue Reading
US warns of Iranian maritime threats against its ships in Middle East
The US Maritime Administration has issued an advisory warning of the possibility of Iranian attacks on US ships in Middle Eastern waters after a US military strike in Baghdad on Continue Reading