Iraq is in talks with Chevron Corp about the Majnoun oilfield, an Iraqi oil ministry official said on Tuesday. The official, Abdul Mahdi al-Ameedi, head of the ministry’s licensing and contracts Continue Reading
Crude oil prices and rig counts are rising in the US and many are wondering how this will affect industry employment. As the oil and gas industry welcomed higher crude Continue Reading
The United States will overtake Russia as the world’s biggest oil producer by 2019 at the latest, the International Energy Agency (IEA) said on Tuesday, as the country’s shale oil Continue Reading
Global levels of the hydrocarbons ethane and propane in the atmosphere have been underestimated by more than 50%, according to a new study by a team of scientists from Europe Continue Reading
il steadied around its highest prices in three weeks on Monday, supported by comments from Saudi Arabia that it would continue to curb shipments in line with the OPEC-led effort Continue Reading
The drive for cost cuts and higher margins at U.S. trucking and railroad operators is pinching their biggest customers, forcing the likes of General Mills Inc and Hormel Foods Corp Continue Reading
Oil prices jumped on Thursday after the EIA reported a surprise drawdown in crude oil inventories, ending several consecutive weeks of inventory builds. The report was the most bullish in Continue Reading
It was a bumpy week for crude benchmarks, although WTI and Brent jumped sharply on Thursday after the EIA reported a surprise drawdown in crude oil stocks. U.S. oil production Continue Reading
Oil prices rose more than 1 percent on Friday, supported by a dip in Libyan production and upbeat comments from Saudi Arabia that an OPEC-led effort to erode stockpiles is Continue Reading
U.S. oil production has topped 10 million barrels per day, approaching a record set in 1970, but many investors in the companies driving the shale oil revolution are still waiting Continue Reading
Oil slipped to $66 a barrel on Friday, under pressure from concerns that rising U.S. oil output and exports will offset OPEC-led attempts to erode stockpiles with output curbs. U.S. Continue Reading
Oil prices rose Thursday after government data showed an unexpected decline in U.S. crude stockpiles amid steady production and rising exports. Light, sweet crude for April delivery advanced $1.30, or Continue Reading
The effects of U.S. sanctions on Venezuela’s economy have caused disruptions in planned upgrades for a key refinery in Aruba. Now the island’s government has reached out to the State Continue Reading
Nationwide crude inventories fell by most in five weeks: EIA Cushing storage at lowest since 2014 as crude exports surge Oil surged to the highest in two weeks as American Continue Reading
The American Petroleum Institute (API) reported a small draw of 907,000 barrels of United States crude oil inventories for the week ending February 16, according to the API data. Analysts Continue Reading
Oil prices fell on Thursday, dragged lower by a firmer dollar that offset support from a surprise decline in U.S. crude inventories Brent crude futures LCOc1 were down 28 cents at Continue Reading
Oil prices were little changed on Wednesday ahead of data expected to show rising crude inventories in the United States and as the dollar strengthened from last week’s three-year lows. Continue Reading
Despite OPEC assurances, market wary of U.S. output growth Traders awaiting key weekly government tally of inventories Oil in New York dipped on concern that expanding U.S. stockpiles knocked the Continue Reading
Venezuela said it had generated US$735 million from the pre-sale of its cryptocurrency backed by crude oil. President Nicolas Maduro saw cryptocurrency sales as a way around Venezuela’s severe cash Continue Reading
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Philadelphia (Reuters) – Republican Senator Ted Cruz of Texas on Wednesday urged President Donald Trump’s administration to push for an overhaul of the nation’s biofuels policy, during a rally at Continue Reading
Oil prices fell on Wednesday, weighed down by a rebound in the U.S. dollar from three-year lows hit last week and by an expected rise in U.S. crude production. Brent Continue Reading
NEW YORK (Reuters) – U.S. crude hit a near two-week high in a choppy session on Tuesday amid inventory declines at a key storage hub and on expectations that top Continue Reading
World oil prices are changing without a single dynamics on February 20 after Saudi Arabia decided to cut production at the end of last week, although the U.S. continues to Continue Reading
LONDON (Reuters) – OPEC and non-OPEC oil producers, including Russia, will discuss extending their cooperation for many more years when they meet in June as they seek to avoid major Continue Reading
U.S. consumers are finally catching a break when they head to the gas station as retail prices follow the price of oil lower, market analysis finds. Motor club AAA reported Continue Reading
Once production starts from the Johan Sverdrup oil field in the North Sea, it could be a component of the basket of oils that make up Brent, Platts reported. Norwegian Continue Reading
Brent crude oil prices fell on Tuesday, pulled down by a stronger dollar and a bout of profit-taking, while U.S. futures gained, bringing the discount between the two key futures Continue Reading
Middle East tensions, pitting Israel against Iran, added a geopolitical risk premium to the price of oil in a Monday session thinned by a U.S. federal holiday. Speaking at a Continue Reading
Six months after bursting on to the Mexican stock market with the third-biggest initial public offering since 2015 and the promise to become a Latin American energy champion, Vista Oil Continue Reading
Throughout 2016 and 2017, a rail terminal built to accept crude oil for the largest East Coast refinery often sat idle, with few trains showing up to unload. Although little Continue Reading
Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and as worries grew Continue Reading
Global crude markets are changing at an unprecedented pace. Across all key oil-producing regions, markets look vastly different today than they did even three years ago, and it has become Continue Reading
The interaction between U.S. shale and OPEC will continue to be the dominant narrative in the oil market this year, and the opposing forces could end up trapping oil prices Continue Reading
Oil prices closed at a one-week high on Friday, recouping losses as optimism over the crude market rebalancing outweighed concerns about shale production. Light, sweet crude for March delivery rose Continue Reading
NEW YORK (Reuters) – Oil prices edged up on Friday as a rebound in the global equities market and a weak dollar supported crude’s recovery from last week’s slide. Global Continue Reading
Oil futures settled higher Friday, lifted by the resurgence of equities and pressure on the US dollar against other major currencies. NYMEX March crude settled 34 cents higher at $61.68/b. Continue Reading
Italian energy company Eni said Friday its production level in December reached an all-time high, attributing much of its gain to offshore Egypt. Eni reported December production of 1.92 million Continue Reading
Oil production in 2018 is set to break records, according to oil economist Karr Ingham. There were talks of record-breaking oil production in 2018 during the Texas Petro Index (TPI) Continue Reading
Oil production in 2018 is set to break records, according to oil economist Karr Ingham. There were talks of record-breaking oil production in 2018 during the Texas Petro Index (TPI) Continue Reading
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Once the “sick man” of Europe, Germany has emerged over the past decade as an economic powerhouse and bulwark of stability, buttressing Europe politically and economically. However, with the uncertainty Continue Reading
Norway has awarded a record number of licenses in its latest mature license round, the Norwegian energy ministry said Tuesday, further evidence of improving confidence in the Norwegian offshore sector Continue Reading
U.S. energy companies this week cut oil rigs for the first week in three even though crude prices hovered near their highest level since the spring of 2015. Drillers cut Continue Reading
The Oil & Gas Authority (OGA) said it received a ‘great response’ to the United Kingdom’s latest offshore licensing round. The Oil & Gas Authority (OGA) has received a ‘great Continue Reading
Mercedes-Benz Vans will offer electric drive options on all its commercial van model lines. This will start with the mid-size eVito, with deliveries commencing in the second half of 2018. Continue Reading
CNPC will be first recipient of Arctic project’s fuel Chinese investment helped defray impact of U.S. sanctions Russia’s Yamal LNG , set to be the world’s biggest Arctic producer of Continue Reading
Hundreds of millions in decommissioning costs, field depletion, high taxes and low oil prices have been the highlights of media coverage of the UK’s North Sea oil industry. Yet the Continue Reading
OPEC and Russia are coordinating the first joint OPEC/non-OPEC deal to curb oil output since 2001, but the apparent unity in the face of lower-for-longer oil prices doesn’t disguise the Continue Reading
BERLIN (AP) — German Chancellor Angela Merkel says she thinks the internal combustion engines that are the mainstay of her country’s auto industry will eventually have to be phased out. Continue Reading
