Aramco could pay less than the originally planned $73.5 billion to its Saudi state shareholder in order to prioritize investments, Crown Prince Mohammed said earlier this week, opening the door Continue Reading
Iraq’s nationwide oil exports held steady in March, averaging 3.367 million barrels per day (bpd), * while revenues surged due to strong global crude prices. The increased revenue is a Continue Reading
It’s the 11th hour for a true ceasefire in Yemen now as the world waits to see what Saudi Arabia will do next and the Houthis continue to apply pressure. Continue Reading
The United States will take the first steps toward indirect treaty talks with Iran on April 6 in Vienna as formal discussions begin with other nations involved in the 2015 Continue Reading
A US$20-billion liquefied natural gas (LNG) project led by France’s Total in Mozambique is beyond the reach of Islamic state-aligned insurgents who started last week a coordinated attack near the Continue Reading
“The remobilization of the project that was envisaged at the beginning of the week is obviously now suspended,” Total said In a statement Saturday (27 Mar) “Total has decided to Continue Reading
Frelimo bet the country on gas – and has just lost the bet. The Frelimo leadership was dazzled by the gas, and believed Mozambique would be like Abu Dhabi, Qatar, Continue Reading
Fighting continues in the Cabo Delgado town of Palma and concerns are growing that Mozambique may never be able to pacify the area enough to enable the return of Total Continue Reading
India continues its efforts to shake off its oil dependence on OPEC’s decisions by asking its state refiners to review what it sees as contracts “loaded against the buyer” with Continue Reading
Chief Minister Uddhav Thackeray said people were failing to take precautions The chief minister of the western Indian state of Maharashtra has warned a full lockdown could be imposed unless Continue Reading
The Venezuelan government has long tolerated armed groups trafficking drugs and contraband near its border with Colombia. Now it has lashed out at one of them, driving thousands of civilians Continue Reading
U.S. employers added the most jobs in seven months with improvement across most industries in March, as more vaccinations and fewer business restrictions supercharged the labor market recovery. Nonfarm payrolls increased Continue Reading
Pioneer Natural Resources, one the biggest independent oil operators in the US, is to buy rival Texan producer DoublePoint Energy in a $6.4bn cash and stock deal, as consolidation in Continue Reading
Since the fall of 2020, the United States has significantly boosted its liquefied natural gas exports to the top LNG-importing region, Asia, to the point of setting record highs in Continue Reading
Pioneer Natural Resources has inked a deal to acquire energy independent DoublePoint Energy for a consideration of $6.4 billion, including the assumption of some $900 million in debt, Pioneer said Continue Reading
Texas’s refining complex is mostly back from last month’s crippling cold blast, but lingering freeze-related issues continue to plague a number of production units. More than six weeks after the Continue Reading
AES Corp. in January commissioned a 100-megawatt battery installation in Long Beach, California, using Fluence batteries. With summer’s heat approaching, California’s plan for avoiding a repeat of last year’s blackouts Continue Reading
The federal program that grants companies the right to drill for oil and gas on federal land is “fundamentally broken” and will be reviewed, according to Interior Secretary Deb Haaland. Continue Reading
It might be only April, but summer weather is already baking the desert Southwest and bringing triple-digit heat. Phoenix could hit 100 degrees this weekend as a record-breaking air mass Continue Reading
WTI and Brent crude oil futures posted solid increases Thursday. West Texas Intermediate (WTI) and Brent crude oil futures posted solid increases Thursday. WTI for May delivery gained $2.29 to Continue Reading
After months of preaching caution and saying the time was not right to raise oil production, OPEC and its partners abruptly agreed April 1 to loosen their quotas and add Continue Reading
The OPEC+ ministerial meeting is discussing gradual production increases over the next three months, sources say, while the group was still debating as of 11:10 a.m. EDT on Thursday how Continue Reading
Oil prices gave up earlier gains and turned lower as of 11:39 a.m. EDT on Thursday, after reports emerged that Saudi Arabia was offering to gradually ease its additional unilateral Continue Reading
The Opec+ oil alliance decided on Thursday to increase output gradually from May as pressure mounts from inside and outside the producers group to release more barrels on to the Continue Reading
OPEC’s crude production rose last month as rebounding supplies from Iran and Libya complicated the group’s efforts to keep global markets in balance. The Organization of Petroleum Exporting Countries boosted output Continue Reading
OPEC+ expressed growing confidence in the global economic recovery by agreeing to increase oil production gradually in the coming months.Before Thursday’s meeting, the cartel had been widely expected to maintain Continue Reading
Saudi Aramco’s profits fell by nearly 50% in 2020 as the pandemic battered oil markets and an oil price war between Russia and Saudi Arabia sent oil prices to record Continue Reading
Iraq’s Parliament votes for an emergency 12 trillion ($10.2 billion) financing law on Nov. 12, 2020. (Source: Iraqi Parliament media office) EDITOR’S NOTE: In recent weeks, multiple different versions of Continue Reading
World powers will hold a virtual meeting with Iran on Friday to discuss “the prospect of a possible return of the United States” to the Iran nuclear deal, the European Continue Reading
Factories around the world are struggling to keep up with soaring demand for all types of goods as the global economic recovery from the pandemic accelerates. In the U.S., factory production Continue Reading
Egypt said it may seek around $1 billion in compensation after a giant container vessel blocked the Suez Canal for almost a week and roiled shipping markets. The figure is a Continue Reading
He has sneered at the Covid-19 pandemic, even as it led Brazil’s health care system to collapse . He has ridiculed opposition lawmakers, who are gunning for his impeachment. His Continue Reading
With more than a week of fierce fighting including beheaded bodies in the streets, the battle for the northern Mozambique town of Palma has highlighted the southern Africa country’s insurgency Continue Reading
A new campaign by the Venezuelan military near the country’s lawless western border is sparking a surge of refugees, with thousands defying the spiking pandemic to pack into makeshift shelters Continue Reading
Offshore oil and gas drilling is set for a rebound this year following a major 2020 pullback when exploration and production companies deferred many activities due to the pandemic and Continue Reading
A measure of U.S. manufacturing activity soared to its highest level in more than 37 years in March, driven by strong growth in new orders, the clearest sign yet that Continue Reading
Oil drilling expanded in the U.S. at its fastest pace since the start of the pandemic amid rising prices and an increasingly optimistic demand outlook. The total number of rigs searching for Continue Reading
WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose by 61,000 last week to 719,000, signaling that many employers are still cutting jobs even as more businesses Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 13 this week, adding another bearish element to the market after Continue Reading
President Biden’s $2.3 trillion infrastructure plan faces a contentious path on Capitol Hill, where Republicans criticized the proposed corporate tax increases as a nonstarter and some Democrats began to jockey for Continue Reading
Canada’s biggest oil sands producers are generating billions more in free cash flow thanks to a faster-than-expected pandemic rebound, but their cautious approach to spending it is disappointing environment-minded investors. Continue Reading
When President Biden yesterday unveiled his $2-trillion economic recovery plan, few in his immediate circle likely thought about oil. Yet, the plan will have a positive effect on oil demand Continue Reading
The Dalles Dam water supply forecast has dropped to its lowest point since December 2020 as inflows sit well below the three-year average, with the weather forecast showing below-normal precipitation Continue Reading
The U.S. auto industry sees President Joe Biden’s infrastructure package as accelerating a global shift toward electric vehicles, thanks to the $174 billion proposed for charging stations, planned consumer rebates Continue Reading
he number of Americans filing new claims for unemployment benefits unexpectedly rose last week, though the labor market recovery is gaining traction as economic activity picks up, driven by increased Continue Reading
U.S. employers likely stepped up hiring in March amid increased vaccinations and more pandemic relief money from the government, which would cement expectations for a boom that could push this Continue Reading
The number of commercial flights looks to have hit a post-pandemic high in the past days, outstripping the previous high from Christmas travel and potentially boding well for jet fuel Continue Reading
The US oil and gas rig count rose six to 519 in the week ended March 31, rig data provider Enverus said, as totals in the Permian Basin and Eagle Continue Reading
Nearly 150 climate advocacy groups are calling on John Kerry , the special presidential envoy for climate, to curtail the amount of money Wall Street sends to fossil fuel companies Continue Reading
The plummeting price of electricity from solar panels is one of the driving forces aiding the transition to clean energy. Government policies and scientific innovation around the world have helped Continue Reading
