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Energy / Crude Oil

China Reports Major Oil And Gas Find At Record Depths

Jun 21, 2021 at 09:52 | Irina Slav

China National Petroleum Corporation has made an oil and gas discovery with reserves estimated at 900 million tons, Chinese media reported. The discovery was made after six years of…

U.S. Rig Count Jumps As Oil Prices Hold Above $70

Jun 18, 2021 at 12:09 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total rig count to 470 as U.S. drillers…

OPEC Doesn’t Expect More U.S. Shale Oil Production

Jun 18, 2021 at 09:49 | Tsvetana Paraskova

Despite $70 oil, U.S. shale producers are not expected to significantly raise crude production this year as they continue to be focused on disciplined capital expenditures and returning more cash…

Gulf Of Mexico Drillers Evacuate Platforms As Tropical Storm Nears

Jun 18, 2021 at 08:57 | Irina Slav

Oil companies operating in the Gulf Coast have started evacuating employees from platforms there ahead of a tropical storm that is brewing in the Gulf. "A tropical or subtropical depression…

The Renewable Boom Has Barely Impacted Oil & Gas

Jun 17, 2021 at 16:47 | Tsvetana Paraskova

A decade ago, fossil fuels accounted for just over 80 percent of final energy consumption in the world. During the last ten years, renewable energy has boomed, and…

Russian Drillers Rejoice As Oil Continues To Rally

Jun 17, 2021 at 16:36 | Vanand Meliksetian

Russia’s oil and gas industry has been the driving force behind its economy ever since the first oil fields were discovered in Tsarist Russia at the end of the 19th…

Can Ecuador’s Oil Industry Finally Begin To Recover?

Jun 17, 2021 at 12:59 | Matthew Smith

Former banker Guillermo Lasso’s surprise victory over favored candidate leftist Andres Arauz in Ecuador’s presidential election last month established a more optimistic outlook…

Biden, Putin Did Not Discuss Oil Prices Or OPEC+ Deal

Jun 17, 2021 at 11:04 | Charles Kennedy

The leaders of the United States and Russia did not discuss oil prices or the OPEC+ deal at their summit in Geneva on Wednesday, Vladimir Putin’s Press Secretary Dmitry Peskov…

Bankruptcy: A Cheap Way Out Of Trouble For Oil Companies

Jun 16, 2021 at 16:03 | Alex Kimani

Back in 2013, the world’s largest private-sector coal company, Peabody Energy (NYSE:BTU), pulled off a new trick from the ever-growing trove of corporate subterfuge. Peabody created…

Carbon Trade Could Be 10 Times Bigger Than Global Crude Oil Market

Jun 16, 2021 at 13:19 | Tsvetana Paraskova

The growing market for paying for carbon emissions could become a larger market than the one for crude oil, according to the head of carbon trading at Trafigura, one of…

Can Fracking Save Colombia?

Jun 16, 2021 at 12:47 | Gerald Jansen

Colombia remains one of most likely candidates to stop producing oil. Not because of environmental concerns or renewables energy taking over, the reason is much more prosaic – it would…

$100 Oil Predictions Soar As Analysts Warn Of Supply Crisis

Jun 16, 2021 at 11:55 | Tsvetana Paraskova

“Incredible demand,” inflation, and shareholder pressure on oil supermajors to drastically cut emissions could lead to an oil crisis within three years, with very high oil and gasoline prices, David…

Oil Jumps On Significant Crude Draw

Jun 16, 2021 at 09:37 | Irina Slav

Crude oil prices rose further today after the Energy Information Administration reported a 7.4-million-barrel draw/build in inventories for the week to June 11. In fuels, the authority reported mixed…

Judge Blocks Biden’s Ban On Oil Leasing

Jun 16, 2021 at 09:00 | Charles Kennedy

A Louisiana federal judge has blocked President Biden’s ban on new oil leases on federal lands by issuing a preliminary injunction. According to a Wall Street Journal report, the…

U.S. Oil Prices Hit 32-Month High On Rising Global Demand

Jun 14, 2021 at 11:24 | Tsvetana Paraskova

Oil prices rose early on Monday, with the U.S. benchmark hitting a 32-month high and Brent rising above $73 per barrel as the market is growing increasingly bullish on demand…

Is Shell About To Turn Its Back On The Permian?

Jun 14, 2021 at 08:02 | Irina Slav

Shell may put up for sale all of its acreage in the Permian in the latest step of a low-carbon push that was most recently spurred by a court ruling…

Jet Fuel Demand Poised For A 30% Surge During Summer

Jun 11, 2021 at 15:40 | Alex Kimani

The air travel industry is at a critical inflection point. Steady vaccination rollouts and falling infection rates in most Western economies are allowing commercial travel to resume after more than…

Remote Work Is The Newest Trend In Oil And Gas

Jun 11, 2021 at 15:32 | Irina Slav

Remote work was one of the changes bestowed upon us by the pandemic—and it may turn into a long-term trend. This trend was most visible in office jobs,…

U.S. Oil Rig Count Rises As Crude Prices Climb Higher

Jun 11, 2021 at 12:15 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total rig count to 461 as U.S. drillers…

Is This The Most Exciting Oil Play Of The Last 20 Years?

Jun 10, 2021 at 16:20 | Chris Davey

The African nation of Namibia has never produced a barrel of oil in its history. Now, for the second time in less than two months, it’s received positive signs that…

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