Since the U.S. lifted its restrictions on crude oil exports in December 2015, a dozen new countries have joined its long-term export partner Canada, which had been exempt from these Continue Reading
Russia’s Gazprom is on the verge of striking a deal with EU regulators to settle a half-decade old dispute over natural gas pricing, and the resolution could change the way Continue Reading
Decline in national stockpiles caused by West Coast drop: EIA Gulf, East Coast inventories expand; U.S. production increases Oil traded near a three-week low below $50 a barrel as U.S. Continue Reading
Oil prices were below $50 per barrel on Thursday on doubts OPEC will be able to bring together its members and Russia to organize a coordinated crude production cut. International Continue Reading
A worker walks past a drilling rig at a well pad of the Rosneft-owned Prirazlomnoye oil field outside the West Siberian city of Nefteyugansk, Russia, August 4, 2016. Oil prices Continue Reading
Flames emerge from a pipeline at the oil fields in Basra, southeast of Baghdad, Iraq October 14, 2016. REUTERS/Essam Al-Sudani/File Photo As OPEC gathers in Vienna next month to consider Continue Reading
A backlog of oil wells that have been sitting idle could put renewed pressure on oil prices once the oil starts flowing. Oil prices dipped just below $50 per barrel Continue Reading
Oil tanker The exploration of oil in Libya began in 1955, four years after the country was declared independent. 40 companies were given an area of 600,000 km2 to explore Continue Reading
Even as they lose ground around Mosul, IS militants showed their capacity for guerilla warfare, deploying 100-man squads to exploit security gaps in Kirkuk and Anbar. Kirkuk police and Peshmerga Continue Reading
Warri — After about three months of quiet, the Niger Delta Avengers resumed destruction of oil and gas infrastructure yesterday, when it bombed a Chevron-operated export pipeline at Escravos in Continue Reading
There has been mass sack of over 3,000 workers in Nigeria’s oil industry as the country’s economic recession bites harder, two unions have said. The two major unions in the Continue Reading
Algiers deal aims to fix unprecedented oil-inventory glut Even the maximum cut OPEC’s considering wouldn’t achieve this Even if OPEC defies a skeptical market by implementing output cuts in full, Continue Reading
Venezuela’s increasingly militant opposition stepped up its push to remove leftist leader Nicolas Maduro on Wednesday with rallies that drew hundreds of thousands of protesters and calls for a general Continue Reading
Oil firms operating in Nigeria have sacked about 3,000 workers, a labor union official said on Wednesday, calling on the government to file a protest with foreign oil operators. “The Continue Reading
A new report produced by the American Lung Association concludes that over-reliance on petroleum-based fuels for transportation costs the 10 ZEV states in the US (California and nine other states Continue Reading
Output falls 7.7% to 117.7 million barrels of oil equivalent Capital spending declined almost 21% to 11.7 billion yuan Cnooc Ltd., China’s biggest offshore oil and gas producer, posted a Continue Reading
Oilfield services Clouds have been clearing for oil producers in the U.S. oil patch, but it looks like things are a bit different in oil field services. In fact, they’re Continue Reading
After reviewing bids offered in a multi-state request for proposals, Massachusetts, Connecticut and Rhode Island are entering contract negotiations to buy power from six projects totaling about 460 MW, with Continue Reading
Audi is realigning its motorsport strategy. The brand will terminate its FIA WEC commitment, including the 24 Hours of Le Mans, at the end of the 2016 season. Instead, Audi Continue Reading
Statoil ASA, the first of the major oil producers to report third-quarter earnings, posted an unexpected loss for a second quarter in a row as maintenance and exploration expenses compounded Continue Reading
A technician works on a helicopter component in the fabrication and assembly room of the Airbus Helicopters Canada facility in Fort Erie, Ontario, Canada. Earnings from ‘chopper’ arm fell 17% Continue Reading
Germany’s lower house of parliament, the Bundesrat, voted in October to ban the sale of cars with internal combustion engines by 2030. It is a resolution with no binding implications, Continue Reading
Nationwide crude stockpiles gain by 4.75 million barrels: API Russia prefers production freeze to cuts: Nation’s OPEC envoy Oil dropped for a third day after industry data showed U.S. crude Continue Reading
A worker walks past a drilling rig at a well pad of the Rosneft-owned Prirazlomnoye oil field outside the West Siberian city of Nefteyugansk, Russia, August 4, 2016. Oil prices Continue Reading
Natural gas storage American crude oil supplies surged upwards by 4.8 million barrels this week, almost completely offsetting last week’s 5.2-million-barrel draw, according to the American Petroleum Institute (API) report Continue Reading
Oil prices dipped early on Tuesday over disagreement within producer cartel OPEC on who should cut how much production in a planned coordinated reduction to prop up prices. International Brent Continue Reading
Rosneft office Russian Energy Minister Alexander Novak is still keeping his cards close to his chest, with the ministry reporting that he discussed with his Venezuelan counterpart, Eulogio del Pino, Continue Reading
Global oil-processing margins shrank 42% last quarter: BP data Oil majors enjoyed one of the best years for refining in 2015 The world’s biggest oil companies, supported during crude’s collapse Continue Reading
Secretary-general comments after meeting Iraqi oil minister Minister Al-Luaibi ‘optimistic’ nations can reach output deal OPEC Secretary-General Mohammed Barkindo said the 14-nation group is facing its toughest challenge as members Continue Reading
Coordinated efforts from OPEC are partially behind what would otherwise be a period of historically lower U.S. gasoline prices, market analyses find. Motor club AAA reports a national average retail Continue Reading
Oil prices closed down Tuesday with traders still skeptical about whether OPEC makes the production cuts members in late September promised that they would consider. Light, sweet crude for December Continue Reading
The OPEC logo is seen outside their headquarters in Vienna, Austria, October 24, 2016. Iraq told a top OPEC official on Tuesday of its hope that the group could reach Continue Reading
OPEC must reduce output by at least 1.3 million barrels a day Iraq joins list of nations seeking exemption from Algiers deal Saudi Arabia faces the prospect of much deeper Continue Reading
TEHRAN — Just as conservative opponents of the nuclear deal with Iran had warned , Tehran seems to be moving aggressively to expand its regional influence while working to counter Continue Reading
Pertamina oil Amid rising doubts about OPEC’s crude oil production freeze agreement, one member of the organization that’s so far stayed out of the spotlight has declared its plans to Continue Reading
Iraqi oil field Since the Iraqi army drove out Islamic State forces from the oil-rich towns of Shargat and Qayyarah last month, ISIS has lost its ability to produce oil Continue Reading
Oil Field Middle East Major changes are brewing in Saudi Arabia, and there is no way to stop them if the kingdom’s economy is to survive the oil price rout. Continue Reading
Nigerian crude oil exports disrupted after the Niger Delta Avengers militant group attacked a pipeline operated by a subsidiary of Chevron. Photo by vanhurck/Shutterstock ABUJA, Nigeria, Oct. 25 (UPI) — Continue Reading
NDA Attack Nigeria has managed to increase its daily crude oil production to 1.9 million barrels , according to a tweet from the Petroleum Ministry. That’s still short of the Continue Reading
Nigeria’s offshore rig count from June till September has reduced to seven from 11 recorded as at end first half 2016, H1’16, indicating that four rigs were shut down in Continue Reading
Nigeria’s oil production has risen to 1.9 million b/d, the oil ministry said Tuesday, even as the government has begun moves for all-inclusive talks with Niger Delta leaders to end Continue Reading
NDA combatants The Nigerian presidency on Tuesday issued a statement affirming that Royal Dutch Shell will resume exports from the Forcados terminal in the Niger Delta region. “The Shell Director, Continue Reading
Oil exports have resumed at Forcados terminal, a key platform attacked by the Niger Delta Avengers in early 2016. The director of Shell Oil Company’s Global Upstream, Andrew Brown, confirmed Continue Reading
South Korea’s shipbuilding industry — home to the world’s top three manufacturers — has eliminated more than 20,000 jobs this year. They may not even be halfway through. Hyundai Heavy Continue Reading
Results for the third quarter were indicative of a market under pressure, though oilfield services company Baker Hughes said recovery was on the horizon. The company, which was the target Continue Reading
Source: U.S. Energy Information Administration, based on Rystad Energy Global offshore oil production in 2015 was at the highest level since 2010, and accounted for nearly 30% of total global Continue Reading
For years, the quiet, winding streets of the Scripps Ranch neighborhood have been pure gold for solar installers. Thanks to its high power prices, hot summers and large homes to Continue Reading
Russia is a major producer and exporter of oil and natural gas. Russia’s economic growth is driven by energy exports, given its high oil and natural gas production. Oil and Continue Reading
The Peak Oil argument refuses to die. Today it has morphed into the Peak Conventional Oil argument. There are parts of the argument I agree with such as any finite Continue Reading
The Crosson Ice Shelf (center) and Mount Murphy (foreground) in Antarctica. Ice shelves are sensitive… The ice that hangs off Antarctica’s western edge is melting at a faster clip than Continue Reading
