Protestors shut Sarir oilfield, Es Sider terminal Threat to exports at Ras Lanuf Port Analysts expect larger, longer supply outages Libya’s oil sector has been hit by more supply disruptions Continue Reading
Now Crude oil production from OPEC and its Russia-led allies rebounded modestly in May from a steep drop in April but remains well short of its collective quotas, according to Continue Reading
Algeria suspended a 20-year-old friendship treaty with Spain that committed the two sides to cooperate in controlling migration flows, and also banned imports from Spain, escalating a row over Madrid’s Continue Reading
May production slumps 14% to average 1.28 million b/d Maintenance carried out at Qua Iboe, Bonny Light Political risks may worsen ahead of 2023 elections, say analysts Nigerian crude oil Continue Reading
The Biden administration’s leading international energy adviser has called on India not to go “too far” as it increases imports of discounted Russian crude that has lost buyers in Europe. Continue Reading
India is continuing to grapple with a severe and protracted power crisis after a sustained surge in global coal prices in late-2021 was further aggravated by Russia’s invasion of Ukraine Continue Reading
Venezuela’s PDVSA has started asking spot market buyers of its crude oil to pay in advance for the shipments after several recent payment defaults, Reuters has reported , citing several Continue Reading
Mexican state oil company Petroleos Mexicanos released thousands of tons of methane gas into the atmosphere from an oil and gas platform in the Gulf of Mexico last December, research Continue Reading
More than half of Shanghai’s 25 million residents will undergo Covid-19 testing this weekend, raising the prospect of extended periods of home confinement for any who test positive, a rude Continue Reading
China is building hundreds of thousands of permanent coronavirus testing facilities and expanding quarantine centres across many of its biggest cities as part of its zero-Covid policy, despite the economic Continue Reading
Oil prices gave up early gains on Thursday after parts of Shanghai imposed new COVID-19 lockdown measures, outweighing news of China’s stronger-than-expected exports in May. Brent crude futures for August Continue Reading
Power demand in Texas will likely set fresh all-time highs every day from June 10-13 as economic growth boosts usage and homes and businesses keep their air conditioners cranked up Continue Reading
U.S. distillate inventories have started to climb seasonally – which should temper some of the bullishness about oil prices and refining margins in the short term. Stocks usually increase at Continue Reading
As U.S. gasoline prices approach a record average of $5 a gallon, fuel costs are rippling through almost every corner of business, with signs emerging that the rising expenses are Continue Reading
Temperatures are soaring as we head into the weekend beneath an intense and sprawling heat dome that will bring triple-digit heat to 45 million Americans in the coming week. Heat Continue Reading
An explosion at a major natural gas production facility in Texas could knock the plant off line for at least three weeks, company officials said Thursday, roiling global energy markets Continue Reading
Russia’s invasion of Ukraine has changed the state of the global natural gas market forever. For U.S. natural gas producers, Europe’s desire to wean itself off natural gas has significantly Continue Reading
Since Monday, the national average for a gallon of regular gasoline has increased by 11 cents to $4.97. According to new data from the Energy Information Administration (EIA), total domestic Continue Reading
Russian President Vladimir Putin said on Thursday that Russian companies will not block off their oil wells despite the West’s efforts to lessen its dependence on energy supplies from Moscow. Continue Reading
Russia said on Thursday it did not expect Gazprom (GAZP.MM) to cut gas supplies to any more European customers and said its scheme to make buyers pay for gas in Continue Reading
Russia’s war in Ukraine is causing a significant negative effect on the global economy and is pushing inflation higher and for longer, Mathias Cormann, Secretary-General of the Organization for Economic Continue Reading
Germany’s government has no intention of changing its policies on nuclear energy even as worry about a halt to Russian gas supplies intensifies among politicians. Following calls from opposition parties Continue Reading
Highlights Deal covers 1.75 million mt/year of volumes High spot prices spurring long-term fixed-price deals Norway’s Equinor has agreed to a long-term FOB deal to buy 1.75 million mt/year of Continue Reading
Russian gas delivery to Europe via the Nord Stream 1 pipeline across the Baltic Sea and through Ukraine remained stable on Friday morning, while eastbound flows rose along the Yamal-Europe Continue Reading
Russia may be getting more revenue from its fossil fuels now than shortly before its invasion of Ukraine, as global price increases offset the impact of Western efforts to restrict Continue Reading
Some analysts have predicted that Western sanctions on Russia, combined with the EU’s embargo on Russian crude oil and tanker insurance, would lead to the inevitable shut down of Russian Continue Reading
Oil prices gave up early gains on Thursday after parts of Shanghai imposed new COVID-19 lockdown measures, outweighing news of China’s stronger-than-expected exports in May. Brent crude futures for August Continue Reading
Oil prices rose on Wednesday, despite a likely rise in U.S. oil stocks, on the easing of Chinese COVID-19 related lockdowns and a possible strike by Norwegian oil workers. Brent Continue Reading
Citi’s Morse Says Booming US Exports Behind Crude Runup Oil maintained its gains after US government data showed crude inventories in the largest storage hub and gasoline stockpiles dropped, offering Continue Reading
Highlights Asian oil demand to rise 2 million b/d in Q3 vs Q2: Platts Analytics Asian refiners will face increased competition from Europe for cargoes Concerns remain on how EU Continue Reading
Efforts by OPEC+ oil producers to boost output are “not encouraging”, UAE energy minister Suhail al-Mazrouei said on Wednesday, noting the group was currently 2.6 million barrels per day short Continue Reading
Iran has begun further expanding its underground uranium enrichment and said on Wednesday it would switch off two of the U.N. nuclear watchdog’s cameras, as the watchdog’s 35-nation board overwhelmingly Continue Reading
The United Nations atomic agency’s board overwhelmingly passed a resolution rebuking Iran for failing to cooperate with an agency investigation, as Tehran said it had turned off some cameras monitoring Continue Reading
Iraq’s countrywide oil exports fell to an average 3.729 million barrels per day (bpd) in May, * a month-on-month decline of around 90,000 barrels per day. Despite the dip in Continue Reading
Eight months after national elections, Iraq still doesn’t have a government and there seems to be no clear way out of the dangerous deadlock. Political elites are embroiled in cutthroat Continue Reading
Some observers expressed hope that a trip by President Biden to Saudi Arabia could spark more production and bring prices down. In reality, there is no quick fix to the Continue Reading
Shell Plc is set to receive two final offers this week for its onshore oil and gas fields in Nigeria, according to people with knowledge of the matter. Local companies Heirs Continue Reading
In Cameroon, thousands of truckers spend weeks stranded at highways and border crossings due to lack of diesel. In Kenya, drivers are lining up overnight to fill their tanks. In Continue Reading
May crude oil imports around 10.79 mln bpd, up 11.8% on yr Jan-May crude oil imports down 1.7% yr/yr May refined oil product exports down 40% yr/yr Jan-May natural gas Continue Reading
Thousands of Tesla Inc. workers in Shanghai will be able to return to their homes from Friday, exiting a factory bubble set up to maintain operations during the city’s recent Continue Reading
China’s appetite for many of its key commodities remained subdued in May as a cocktail of surging international prices and domestic virus restrictions, including the city-wide shutdown of Shanghai, sapped Continue Reading
Chinese exports to the rest of the world surged in May as Covid-19 restrictions eased, adding to signs of recovery in the world’s second-largest economy after months of punishing pandemic Continue Reading
Tough restrictions in scores of cities have driven the country to the edge of recession for just the second time in three decades. But even though measures have been eased Continue Reading
China’s crude oil imports in May extended the continuous monthly recovery and gained 3.1% from April to 10.84 million b/d, data from the General Administration of Customs showed June 9. Continue Reading
A explosion and fire on Wednesday hit the massive Freeport LNG liquefied natural gas plant on the Texas Gulf Coast, prompting an evacuation of nearby beaches and sending U.S. natural Continue Reading
Power demand in Texas broke the June record on Monday and Tuesday and will keep rising this week until it tops the all-time high as economic growth boosts usage and Continue Reading
Sonny Alaniz was headed home after midnight when his ATV lurched to a stop on a rural Texas road, the gas tank undeniably drained. The nursing student and his seven Continue Reading
Big oil and gas companies have internal data showing that their methane emissions in the vast Permian Basin “are likely significantly higher than official data” reported to the Environmental Protection Continue Reading
U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the week ending June 3, 2022 which was 355,000 barrels per day more than the previous week’s average. Continue Reading
Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 2 million barrels for the week to June 3. This compared with Continue Reading
