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These Are the World's Biggest Oil Reserves

These Are the World's Biggest Oil Reserves

Russia's discovery of colossal oil…

Energy / Crude Oil

How the 1973 Oil Embargo Still Affects US Energy Agenda Today

Oct 24, 2013 at 17:29 | Robert Rapier

America’s Wake Up CallForty years ago Americans were getting a wake up call on energy security. For the first time, the point was being driven home that America’s…

Brazil’s Pre-Salt Auction Goes to Shell-Total Consortium

Oct 23, 2013 at 17:06 | Joao Peixe

A consortium led by Anglo-Dutch oil major Shell, France’s Total and PetroChina and its sister company Cnooc, won the bid for Brazil’s Libra deep-water oilfield in a landmark auction on…

Is Deepwater the Next Oil Bonanza?

Oct 18, 2013 at 17:37 | Daniel J. Graeber

Strong growth in international drilling activity helped increase quarterly profits for some of the largest oil companies in the industry. Oil services company Baker Hughes Inc. said last week the…

Two Energy Ideas: Refiners and the Back of the Crude Curve

Oct 18, 2013 at 16:55 | Dan Dicker

Two energy ideas to touch upon today, now that the debt ceiling debacle is (at least for now) over:  Refiners and the back of the crude curve.Refiners have…

Big Win for Big Oil on Ethanol Mandate?

Oct 17, 2013 at 17:00 | Joao Peixe

It seems to many that the Environmental Protection Agency (EPA) is putting off a final decision on whether or not it will slash the 2014 biofuels mandate in order to…

From Peak Oil to Fossil Fuel Euphoria

Oct 16, 2013 at 17:13 | Michael Klare

Republished with permission from Tom DispatchFor years, energy analysts had been anticipating an imminent decline in global oil supplies.  Suddenly, they’re singing a new song: Fossil fuels…

China is Now the World’s Largest Importer of Oil—What Next?

Oct 15, 2013 at 17:16 | Rory Johnston

Last month the world witnessed a paradigm shift: China surpassed the United States as the world’s largest consumer of foreign oil, importing 6.3 million barrels per day compared to the…

The Might of the Petro-Dollars at Work Once Again

Oct 15, 2013 at 17:11 | Claude Salhani

Petro-dollars, the word used to describe the billions of dollars earned from the sale of oil and natural gas, have helped change the shape and future of many counties in…

Our Reliance on Oil Continues to Threaten our Future

Oct 11, 2013 at 21:47 | Gail Tverberg

If a person reads US newspapers, it is easy to get the impression that all of the world’s oil problems are over. But this is not really the case.

Venezuela’s PDVSA Drowns in Transport Costs

Oct 11, 2013 at 16:10 | Editorial Dept

Bottom line: Transport costs are a sieve winnowing away Pdvsa’s profits and a recent investigation appears to show that at least three ships commissioned and inaugurated in public ceremonies by…

How Iran Plays the Oil Game … and Wins

Oct 04, 2013 at 18:28 | Daniel J. Graeber

Instability in Libya and other parts of North Africa may be giving international investors the jitters.  In August, U.S. energy explorer Apache Corp. said it had enough of the political…

Brazilian Policies Scare off Oil Majors

Oct 04, 2013 at 18:22 | John Daly

First, the good news.Later this month, on at a 21 October auction, Brazil will sell off leases in its massive Libra southern Atlantic offshore oil field, with high…

Iranian Crude may be Vital as Global Producers Fail to Meet Targets

Oct 03, 2013 at 17:00 | Dave Summers

There has been considerable comment this week over the telephone call between President Obama and the President Rouhani of Iran. Certainly the election of a new President in Iran…

Record Oil Outputs in Saudi Arabia Fail to Ease Shortage Anxiety

Oct 01, 2013 at 19:15 | Global Risk Insights

Saudi Arabia, along with OPEC neighbors Kuwait and the United Arab Emirates, exported a record high of crude oil this August. Despite pumping out 10.2 million barrels per day, the…

Shell Abandons 800 Billion Barrel Deposit, Beaten by the Regions Geology

Oct 01, 2013 at 19:12 | Kurt Cobb

The belief that technology can always overcome natural limits just took a big hit this week when Royal Dutch Shell PLC decided to shut down its pilot oil shale…

Canada to Drill for Offshore North Atlantic Oil

Oct 01, 2013 at 19:01 | John Daly

First, the good news.Canada’s Calgary-based Husky Energy Inc. and its Norwegian partner Statoil ASA announced a major oil discovery in offshore Newfoundland and Labrador Flemish Pass Basin.

Big Oil Moves North Despite Climate Woes

Sep 28, 2013 at 12:17 | Daniel J. Graeber

The Intergovernmental Panel on Climate Change said Friday the sea ice in the arctic has melted at a rate of at least 9 percent per decade since the late 1970s.…

Canadian Oil Could Soon Head West by Rail

Sep 26, 2013 at 20:14 | Rory Johnston

CN Rail, Nexen, and Ottawa are considering plans to ship Albertan oil to the West Coast of Canada by train, according to new documents obtained by Greenpeace Canada under…

1.5 Billion Barrels of Oil – And No Takers

Sep 25, 2013 at 19:11 | John Daly

Western energy firms are noted for venturing into volatile regions and areas that scare off more faint-hearted capitalists. But one country is even giving these hardened energy companies…

Peak Oil Demand: Peak Oil Didn’t Go Away, it Just Changed its Name

Sep 25, 2013 at 18:57 | Post Carbon

A new phrase has entered our energy lexicon—peak oil demand. The essential idea: prophets of doom who warned about a looming global petroleum shortfall (“peak oil”) were wrong; instead…

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