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U.S. Oil and Gas Boom Poses Challenge to Climate Goals

U.S. Oil and Gas Boom Poses Challenge to Climate Goals

Despite renewable energy efforts, the…

Energy / Crude Oil

U.S. Shale Is Turning Up The Heat On OPEC

May 19, 2017 at 16:24 | Oil & Gas 360

OPEC has been restraining production since the beginning of the year, after a group of cartel members teamed with Russia and other non-OPECs and agreed to production cuts last November.…

From Oil To Arms: Saudis Move Away From Crude

May 18, 2017 at 11:07 | Irina Slav

The sovereign wealth fund of Saudi Arabia has set up a defense business as part of its efforts to reduce the Kingdom’s dependence on crude oil for budget revenues…

U.S. Shale In No Hurry To Hedge, Bet On Higher Oil Prices

May 17, 2017 at 15:56 | Rakesh Upadhyay

U.S. shale oil drillers have tactically used hedging to survive during the current oil crisis. Along with the technological advances, hedging has been one of the reasons for the survival…

Iraq Agrees With Deal Extension, But Boosts Oil Exports To Record Levels

May 17, 2017 at 12:08 | Zainab Calcuttawala

Iraq’s May export figures show the Middle Eastern nation reaching for the sky to dominate the Asian oil supply game, according to new shipping data analyzed by Bloomberg. Sixty-two million…

A Red Flag For Oil Markets? China’s Refinery Throughput Plunges

May 15, 2017 at 13:20 | Tsvetana Paraskova

Amid planned maintenance at some big state refineries and decreased domestic production, China’s refinery runs in April dropped to their lowest levels since last September, according to data by the…

Saudis Own The Largest Refinery In The U.S. – Now What?

May 12, 2017 at 17:21 | Drilling Info

Port Arthur, TX is home to the U.S. refining fleet’s crown jewel. With an atmospheric distillation capacity of 603 MBbl/cd, this complex coking refinery is the largest refinery in the…

Libya’s Oil Output Tops 800,000 Bpd For The First Time Since 2014

May 10, 2017 at 09:28 | Tsvetana Paraskova

Libya’s crude oil production has exceeded 800,000 bpd for the first time since 2014, and could average up to 1.2 million bpd for the rest of this year if oil…

Will New Pipelines Be Enough To Handle The Permian Boom?

May 09, 2017 at 14:17 | Gregory Brew

As production in the Permian Basin continues to increase, the accompanying infrastructure has struggled to keep up. Expansions to pipeline capacity are needed to handle the heavier flow, as more…

Oklahoma Taking Advantage Of Mexico’s Oil Boom

May 09, 2017 at 14:07 | Tsvetana Paraskova

With Mexico flinging the doors wide open to its vast oil wealth, with much of the hard work already done and the massive discoveries having already been made, more than…

Saudis Set To Cut June Crude Oil Exports To Asian Markets

May 09, 2017 at 11:23 | Tsvetana Paraskova

Saudi Arabia will reduce its crude oil exports to the Asian market by around 7 million barrels in June, Reuters reported on Tuesday, citing a source with first-hand knowledge…

Production Now Priority For North America’s Busiest Oil Asset Buyer

May 08, 2017 at 14:16 | Tsvetana Paraskova

Canada’s Crescent Point Energy Corp—the North American oil and gas exploration and production company that has completed the highest number of acquisitions over the past five years—is now prioritizing organic…

Iran Plans To Raise Crude Oil Production Capacity By 3 Million Bpd

May 08, 2017 at 12:23 | Tsvetana Paraskova

Iran plans to lift its crude oil production capacity by 3 million bpd, Iranian oil ministry’s news service, Shana, reported on Monday, quoting a senior official as saying that…

Saudi Oil Minister: OPEC Output Cut Could Extend Into 2018

May 08, 2017 at 09:47 | Irina Slav

The production cut agreement that OPEC closed last year in a bid to improve oil prices could be extended for more than six months, Saudi Arabia’s Oil Minister Khalid al-Falih…

Iran To Raise Oil Output At Oil Field It Shares With Saudi Arabia

May 04, 2017 at 10:15 | Irina Slav

The Iranian Offshore Oil Company will increase production at the Foroozan oil field, which Iran shares with Saudi Arabia, by 12,000 barrels daily, the company’s executive director told Iranian…

Saudis To Retain Full Control Over Aramco’s Oil After IPO

May 03, 2017 at 13:00 | Tsvetana Paraskova

Saudi Arabia will continue to have full control over the oil wells and production of Aramco, after the much-anticipated initial public offering of around 5 percent of the Saudi oil…

Russia Exceeds Assigned Quota For Production Cut

May 03, 2017 at 11:02 | Irina Slav

Russia has exceeded its assigned quota for crude oil production cuts by 790 barrels a day, sources from the Energy Ministry told media. Russia was supposed to cut 300,000…

BP Triples Q1 Profit, Latest Oil Major To Beat Estimates

May 02, 2017 at 10:14 | Tsvetana Paraskova

In another sign that oil majors are recovering with the help of higher oil prices this year, BP (NYSE:BP) reported on Tuesday a first-quarter underlying replacement cost profit –…

Saudis To Boost Oil Export Capacity To 15 Million Bpd In 2018

May 01, 2017 at 11:26 | Tsvetana Paraskova

Saudi Arabia’s state-held oil giant Saudi Aramco will be launching in 2018 the revamped Muajjiz oil terminal on the Red Sea that would raise the Kingdom’s oil loading and export…

OPEC Deal Extension Could Be Shorter Than 6 Months

May 01, 2017 at 09:51 | Irina Slav

OPEC could extend its crude oil production cut agreement by less than six months – the period that is widely assumed to be the logical continuation of the initial deal,…

Is The Permian Starting To Get Crowded?

Apr 28, 2017 at 16:23 | Irina Slav

The first quarter of the year saw record-high oil and gas M&A activity in the U.S., with the value of deals topping US$73 billion – a whopping 160-percent annual increase…

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