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Energy / Crude Oil

China’s Refinery Crackdown Leaves Oil Tankers With Nowhere To Go

Aug 30, 2021 at 11:30 | Haley Zaremba

China is cracking down on its private-sector oil refiners in a bid to close tax loopholes and mitigate pollution. Approximately a quarter of…

Nordic American Tankers: More Oil Is Coming To The Market

Aug 30, 2021 at 10:05 | Tsvetana Paraskova

The oil tanker industry faces brighter prospects in the coming months with more crude set to arrive on the international markets, according to the Nordic American Tankers. In its second-quarter…

Oil Could Rise Further As OPEC Suggests Keeping Output Cuts In Place

Aug 30, 2021 at 09:25 | Irina Slav

Crude oil prices could rise further if OPEC+ stops adding barrels to global supply, which is a possibility after the cartel's next meeting, according to the Kuwaiti oil minister. "The…

Hurricane Ida Shuts In 95% Of U.S. Gulf Coast Oil Output

Aug 30, 2021 at 08:28 | Charles Kennedy

As much as 95 percent of oil production in the U.S. section of the Gulf of Mexico has been shut in, as hurricane Ida passed through it before making

U.S. Rig Count Inches Higher As Prices Recover

Aug 27, 2021 at 12:14 | Julianne Geiger

The number of oil and gas rigs in the United States rose by 5 this week, according to Baker Hughes—after rising by 3…

Fujairah Oil Terminal To Upgrade As Crude Trade Is Expected To Surge

Aug 27, 2021 at 11:42 | Tsvetana Paraskova

The Fujairah Oil Terminal (FOT) is upgrading its infrastructure to link the storage site with a key crude pipeline and the terminal for supertankers at the Port of Fujairah, in…

Emerging Economies Deserve A Chance At Oil Riches, Too

Aug 27, 2021 at 10:36 | Felicity Bradstock

Emerging economies must continue to rely on fossil fuels while demand is high, largely ignoring the developed world’s green transition and taking this opportunity to develop their economies…

Cocaine Production Soars In Colombia As Oil Industry Crumbles

Aug 27, 2021 at 10:33 | Matthew Smith

Conflict-torn Colombia’s economically crucial oil industry continues to labor under the pressure of an array of threats.After being severely impacted by the pandemic oil output in…

Oil-Rich Nations Face Growing Pressure To Go Green

Aug 27, 2021 at 10:21 | Felicity Bradstock

Governments in long-established oil-rich nations around the world are coming under fire for their decisions over oil and gas versus renewable alternatives. The once-coveted natural resource is now…

Mexico’s Pemex Struggles To Restore Oil Output Lost After Fatal Fire

Aug 27, 2021 at 10:00 | Tsvetana Paraskova

Mexico’s state-owned oil firm Pemex has restored part of the oil production suspended after Sunday’s fatal fire that killed seven people, but the pace of output recovery could be slower…

The Future Of Oil Is Offshore

Aug 26, 2021 at 13:17 | Irina Slav

Brazil and its tiny neighbors Guyana and Suriname have recently risen to prominence with major oil discoveries despite what most would see as an unfavorable environment—the energy transition…

Which U.S. States Are Most Dependent On Fossil Fuels?

Aug 26, 2021 at 13:16 | Alex Kimani

Last week, the Intergovernmental Panel on Climate Change delivered its starkest warning yet about the deepening climate emergency, saying a key temperature limit…

The Permian Is Set To Thrive Through 2025

Aug 26, 2021 at 13:14 | Felicity Bradstock

The Permian Basin looks strong until at least 2025 despite challenges from Biden's alternative energy push, with oil output climbing steadily after its dip during the 2020 pandemic,…

Alaska’s Oil Industry May Be On Its Last Legs

Aug 26, 2021 at 12:44 | Felicity Bradstock

Last week a judge halted the latest Alaskan oil project following a year of disappointment due to the Covid related drop in oil demand and the cancellation of…

Chinese Oil Major Sinopec Announces Oil, Gas Discovery

Aug 26, 2021 at 09:28 | Charles Kennedy

China’s state-owned oil and gas major Sinopec has struck oil and gas at a field in the northwestern province of Xinjiang, Reuters reports, adding that the reserves at the…

BP Spins Off Operations Of Iraq’s Largest Oilfield

Aug 26, 2021 at 08:47 | Tsvetana Paraskova

BP is spinning off its assets in Iraq by setting up a joint venture with PetroChina which will manage Iraq’s largest oilfield Rumaila as the UK-based supermajor is looking…

Frackers See Light At The End Of The Tunnel In Oil Markets

Aug 25, 2021 at 11:56 | Tsvetana Paraskova

Recovering global oil demand and drilling activity has made oilfield services firms optimistic about the sector’s prospects not only in the immediate future but also in the medium…

Oil Ticks Higher On Crude Inventory Draw

Aug 25, 2021 at 09:37 | Irina Slav

Oil prices recouped some of their latest losses today, after the Energy Information Administration reported a crude oil inventory draw of 3 million barrels for the week to August…

China And Iran Zero-In On Oman’s Massive New Oil Storage Project

Aug 24, 2021 at 14:47 | Simon Watkins

Oman occupies a strategically vital position in the geography of the Middle East, possessing long coastlines along the Gulf of Oman and along the Arabian Sea, away from…

Oil Glut In Asia Worsens

Aug 24, 2021 at 09:51 | Irina Slav

The amount of oil held in floating storage at Asian ports is growing, with Iranian and Venezuelan crude cargoes earlier this month pushing Asian floating inventories to the highest in…

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