News
Brent Slips Below $45 As Glut Uncertainty Continues
Brent crude slipped below $45 on Wednesday, reaching its lowest price since last November as a supply glut continues to plague oil markets, according to a new report by
EIA Tracks Over 200 Percent Growth In Crude Oil Exports Since 2010
Between 2010 and 2016, American crude and petroleum product exports more than doubled from 2.4 million barrels per day to 5.2 million bpd, according to a new report from…
Offshore Gulf Of Mexico Operations Continue As Cindy Rages On
Two of British Petroleum’s major projects have had the storm pass over them, with equipment successfully weathering rain and minor ocean swells. The oil major had evacuated non-essential workers from…
Oil Dependency Climbs As Supply Rises And Prices Fall
(Click to enlarge) Headlines around electric cars and carbon policy suggest our oil dependency is on a slippery downward slope. Recent data from 2016 suggests…
Paris Agreement Could Cost Big Oil Big Bucks: Report
If governments around the world stick to the Paris Agreement targets for CO2 emissions, big oil companies stand to lose US$2.3 trillion in the period until 2025. This is the…
China Set To Slow Refinery Runs In Q3, Hurting Oil Demand Growth
China’s refineries are expected to shut nearly 10 percent of the country’s 15.1-million-bpd refinery capacity in the third quarter¬—the peak demand season—dampening prospects for global oil demand growth on which…
Norway To Auction Record Number Of Arctic Oil Exploration Blocks
Norway’s Ministry of Petroleum and Energy said on Wednesday that it was offering a total of 102 blocks up for exploration in the 24th licensing round on the Norwegian Continental…
Exxon’s Guyana Play Could Be As Price Competitive As The Permian
Guyana got its fifth deepwater project of the year on Tuesday, when a consortium including Exxon Mobil, Hess Corp, and CNOOC green-lighted a $4.4 billion investment in the newly…
ELN Attacks Colombia’s Second-Largest Oil Pipeline Again
Marxist rebels from the ELN attacked Colombia’s second-largest crude pipeline over the weekend, causing a complete halt in its flow, according to military and Ecopetrol sources that spoke to Reuters…
Oil Prices Get Tiny Reprieve As API Reports Modest Crude Draw
The American Petroleum Institute (API) reported a draw of 2.72 million barrels in United States crude oil inventories, compared to analyst expectations that the EIA would report a
