President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S. ally Saudi Arabia to raise supplies to compensate for lower Continue Reading
The administration of President Donald Trump wants to help allies replicate the U.S. natural gas and oil production boom by exporting American know-how, U.S. Energy Secretary Rick Perry said on Continue Reading
Oil major Royal Dutch Shell has exited the Majnoon oilfield and handed over all its operations to the state-run Basra Oil Co., two Iraqi oil officials close to the deal Continue Reading
TOKYO/SEOUL (Reuters) – Japan and South Korea, two major buyers of Iranian oil, are in talks with the U.S. government in a bid to avoid adverse impacts from Washington’s reimposition Continue Reading
When General Electric Co bought oilfield services giant Baker Hughes last July, it created a global industry colossus with $22 billion in annual revenue. GE promised to digitalize oilfields worldwide, Continue Reading
The International Energy Agency on Tuesday published its latest medium-term gas outlook containing forecasts for gas supply and demand to 2023. Global gas demand to reach 4.1 Tcm by 2023 Continue Reading
Given their significance for the vital functions of industrial societies and their potential for climate change, future developments in fossil fuel production ( petrol, natural gas, coal ), will have Continue Reading
The world’s biggest oil and gas players are gathering for a summit in Washington D.C. this week that will be overshadowed by the specter of shifting trade patterns due to Continue Reading
(Bloomberg) — The shutdown of a key oil-sands facility in Canada is flipping the global oil market on its head and slamming shares of producers that depend on the plant. Continue Reading
The El Gezira and El Managil Agricultural Scheme has warned of the failure of planting sorghum, groundnut and cotton in the current agricultural season because of the increasing prices of Continue Reading
Baker Hughes reported another dip in the number of active oil and gas rigs in the United States today. Oil and gas rigs decreased by 7 rigs , according to Continue Reading
Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. (Bloomberg) Continue Reading
Crude oil prices moved deep into negative territory in early Thursday trading amid expectations of a consensus agreement from OPEC on future production. The International Energy Agency has said the Continue Reading
Iraq’s highest court largely backed a Parliament law requiring a manual recount of the May 12 elections, but political leaders disagree about how to interpret the ruling. Iraq’s Federal Supreme Continue Reading
Expect some sort of Goldilocks scenario from OPEC on future supplies, though talks under way in Vienna are increasingly contentious, a consultant group said. Ministers from the Organization of Petroleum Continue Reading
U.S. economy not as exposed to spikes in crude oil prices as it was in the 1970s, the Federal Reserve Bank of Dallas found. File Photo by John Angelillo/UPI June Continue Reading
Saudi Arabia and Russia have promised they will lead OPEC and other big oil producers in a deal this week to boost output and lower prices. What if it isn’t Continue Reading
Peak summer demand could drain global oil inventories to critical levels if the OPEC/non-OPEC coalition leaves its production cut agreement in place, Russian energy minister Alexander Novak said Tuesday. That Continue Reading
China is lining up retaliatory tariffs against the US to hit one of its most successful export industries in recent years: energy. Sales of US oil, gas and coal to Continue Reading
In its eighth year of paralyzing austerity, Greece is facing another hot summer. Political controversies will be even more heated than the blessed Peloponnese climate, as the Tsipras Government is Continue Reading
EU negotiators informally agreed on a non-binding 32.5% energy efficiency target for 2030, with a 2023 upward review clause late Tuesday, effectively closing debate on a key part of the Continue Reading
Goldman Sachs on Monday forecast a tighter oil market for longer amid strong demand growth and the likelihood that rising supply disruptions could counter any increase in OPEC production. “Our Continue Reading
China’s imports of Venezuelan crude oil could sink to their lowest in nearly eight years in July as the OPEC producer struggles with shrinking output and mounting logistics issues, according Continue Reading
Saying that current oil prices were not supported by market fundamentals, Indian oil minister Dharmendra Pradhan on Thursday called for “responsible pricing, one that balances the interests of both the Continue Reading
Mobile tech supplements – but does not replace – water management processes used in waterflood enhanced oil recovery. Although proportions vary and worldwide data are incomplete, water makes up a Continue Reading
OPEC, Russia and its allies may consider a range of proposals to increase crude oil output which could be by as much as 1.8 million b/d, according to a source Continue Reading
Production growth from the Permian shale in the southern United States will be equivalent to adding another Kuwait to the market. File Photo by Gary C. Caskey/UPI June 13 (UPI) Continue Reading
OPEC said the oil market outlook in the second half of 2018 is highly uncertain even though the producer group’s figures show a global glut has ended, suggesting talks next Continue Reading
Roll up, roll up and invest in Mexico — just not in the oil sector. That is the message from the man picked by Andrés Manuel López Obrador, the frontrunner Continue Reading
PARIS (Reuters) – Oil and gas major Total said on Tuesday that 3.5 percent of its petrol stations in France had run out of fuel on the second day of Continue Reading
OPEC is likely to reject a request by Iran to discuss U.S. sanctions against Tehran at this month’s meeting of the oil producer group, a source familiar with the matter Continue Reading
Iran said on Friday a U.S. request for Saudi Arabia to pump more oil so that it could cover a drop in Iranian exports was “crazy and astonishing” and said Continue Reading
Colorado’s largest electricity provider said Wednesday it wants to retire two coal-fired units a decade early and nearly double the share of power it gets from renewable sources. Xcel Energy said the changes would reduce Continue Reading
Shale oil, which the Energy Information Administration projects will represent a rising proportion of American oil supplies in the coming decades, has a surprising Achilles heel: its low octane levels, Continue Reading
Jerry Morales, the mayor of Midland, Texas, and a local restaurateur, is being whipsawed by the latest Permian Basin shale-oil boom. It’s fueling the region and starving it at the Continue Reading
We are living in a carbon bubble with trillions of dollars held in oil, gas, and coal assets that would be wiped out before long as technological advancements in all Continue Reading
OPEC and Russia are considering raising oil production in a few weeks’ time, and while much of the focus has (rightly) been on the supply outages in Venezuela and the Continue Reading
Iran is seeking support from fellow OPEC members against the returning U.S. sanctions and wants the issue on the agenda at the Vienna meeting in June, Iranian Oil Minister Bijan Continue Reading
Iran is taking a firm line with its OPEC counterparts that could threaten the current 24-country crude producer alliance, warning members not to take its market share it risks losing Continue Reading
U.S. crude oil production jumped 215,000 barrels per day (bpd) to 10.47 million bpd in March, the highest on record, the Energy Information Administration (EIA) said in a monthly report Continue Reading
The U.S. federal government reported Thursday that spending on gasoline and other energy products contributed most to a rise in consumer spending. The U.S. Commerce Department reported personal income improved Continue Reading
The spring fever is passing. After three months on the rise the oil market has turned. In a single day on Friday the price of a barrel of Brent crude Continue Reading
The rise in oil prices in recent months has been a concern to oil-importing nations and to retail consumers as the rally has been inflating their oil import bills and Continue Reading
Oil prices plunged on Friday after news broke that OPEC and its partners, including Russia, are considering allowing higher levels of oil production, which could mark the beginning of the Continue Reading
Russia and Saudi Arabia are hammering out the terms of a deal to jointly increase oil production—a move that could cool crude markets and extend, at least for now, a Continue Reading
Source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update Heading into the 2018 Memorial Day weekend, regular gasoline prices averaged $2.92 per gallon (gal) nationally on May 21, up Continue Reading
Summary of Weekly Petroleum Data for the Week Ending May 18, 2018 U.S. crude oil refinery inputs averaged over 16.6 million barrels per day during the week ending May 18, Continue Reading
Iranian revenue from crude oil sales increased substantially during the first month of the Iranian calendar year because of higher oil prices, a spokesman said. Mohammad Bagher Nobakht, a spokesman Continue Reading
When US secretary of state Mike Pompeo issued a dozen demands of Iran, he described the requests as “very basic requirements” that were not “unreasonable”, but many observers disagreed. Mr Continue Reading
More than 23 billion cubic feet per day (Bcf/d) of natural gas pipeline capacity will come online by the end of this year, a jump of almost a third from Continue Reading
