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Namibia Racks Up Another Major Offshore Oil Discovery

Namibia Racks Up Another Major Offshore Oil Discovery

Shares of Portuguese integrated energy…

Big Oil’s Carbon Capture Conundrum

Big Oil’s Carbon Capture Conundrum

Energy experts and environmentalists express…

Energy / Crude Oil

Libya’s Oil Production Bounces Back Following Pipeline Repairs

Jan 10, 2022 at 09:06 | Irina Slav

Libya’s crude oil production rose to 900,000 bpd from 700,000 bpd after the completion of repair work on a pipeline, the country’s oil ministry said, as quoted by Bloomberg. The…

Tighter Wastewater Regulation Becomes Headache For Shale Drillers

Jan 07, 2022 at 12:36 | Rystad Energy

Dealing with the US shale industry’s produced water is increasingly controversial for operators, a new Rystad Energy report reveals. Even though total produced volumes are projected to hit…

Oil Boom In South America Boosts FPSO Demand

Jan 07, 2022 at 12:32 | Rystad Energy

The market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10…

Cold Weather In North Dakota And Alberta Forces Oil Producers To Curb Production

Jan 07, 2022 at 12:28 | Tsvetana Paraskova

Regional prices of crude oil pumped in Western Canada and in North Dakota have risen this week to lower their discounts to the U.S. benchmark, WTI Crude, after…

Nigeria Is Losing Major Investors As Oil Theft Runs Rampant

Jan 07, 2022 at 12:25 | Felicity Bradstock

2021 ended with a report that Nigeria experienced a deficit of almost 200 million barrels of crude in the first 11 months of the year, mainly due to…

U.S. Rig Count Rises Alongside Oil Prices

Jan 07, 2022 at 12:11 | Julianne Geiger

The number of active drilling rigs in the United States rose by 2 this week, keeping the total rig count at 588, as oil prices remain strong despite the fresh…

EOG Resources Bucks The Trend, Says It’s Ready To Boost Oil Production

Jan 07, 2022 at 08:21 | Irina Slav

EOG Resources, one of the largest operators in the U.S. shale patch, has signaled it would be willing to boost oil production if there is demand for it. In a…

Oil Jumps As Key Kazakhstan Oil Field Gets Hit By Protests

Jan 07, 2022 at 07:53 | Irina Slav

Crude oil jumped sharply on Thursday and remained high on Friday after reports that the protests in Kazakhstan had disrupted production at its biggest field, Tengiz. Brent crude was…

Goldman Sachs: Commodity Supercycle Could Last A Decade

Jan 06, 2022 at 14:34 | Tsvetana Paraskova

Oil prices could reach $95 if Iran doesn’t return to the market this year, while commodities overall are set for a supercycle that could potentially last a decade, according to…

Will The Permian Merger Mania Continue Into 2022?

Jan 06, 2022 at 11:39 | Irina Slav

The Permian shale play, the star of the shale patch, witnessed a hot merger and acquisition year in 2021 amid the pandemic as many companies sought to gain…

Saudi Arabia Cuts Oil Prices For Asia In February

Jan 06, 2022 at 10:49 | Tsvetana Paraskova

Saudi Arabia cut the prices of all the crude grades it will be selling to Asia in February to the lowest premium to regional benchmarks in three months, amid the…

Crude Prices Slip On Major Dip In U.S. Gasoline Demand

Jan 05, 2022 at 09:45 | Irina Slav

Crude oil prices fell slightly today after the Energy Information Administration reported an inventory decline of 2.1 million barrels for the final week of 2021. This compared with a draw…

The Biggest Challenge Facing Biden’s Electric Vehicle Infrastructure Plan

Jan 04, 2022 at 14:25 | Robert Rapier

Last month the Biden administration released a plan to build a network of 500,000 electric vehicle charging stations across the country. President Biden…

OPEC+ Continues To Struggle To Produce As Much As Quotas Allow

Jan 04, 2022 at 10:18 | Tsvetana Paraskova

The OPEC+ group continues to deliver lower supply increases than the monthly production quotas, according to the alliance’s estimates of compliance with the November crude oil output quotas. In November…

How Iran Could Trigger The Next 10 Percent Drop In Oil Prices

Jan 03, 2022 at 15:07 | Simon Watkins

Given ongoing high and steady sales of crude oil to China and other Asian countries and the likelihood of a new iteration of the Joint Comprehensive Plan of Action…

OPEC+ Sees Smaller Oil Market Surplus In Q1

Jan 03, 2022 at 09:45 | Tsvetana Paraskova

OPEC+ expects the surplus on the oil market in the first quarter of 2022 to be 1.4 million barrels per day (bpd), or some 25 percent lower than it forecast…

Russia May Be Nearing Limit Of Oil Output Capacity

Jan 03, 2022 at 09:14 | Irina Slav

Russia may be nearing the limit of its oil production capacity, according to recent media reports. Bloomberg reported that the country's December oil and condensate output together totaled 10.903…

OPEC+ Expects Mild Impact From Omicron On Oil Markets

Jan 03, 2022 at 08:43 | Irina Slav

OPEC+ expects the effect of the Omicron variant of the coronavirus on oil prices to be mild and temporary, Reuters reported, citing a technical report by the group. "The…

Fossil Fuel Financing Under Pressure As Wall Street Caves To ESG Demands

Dec 31, 2021 at 09:58 | Tsvetana Paraskova

Most U.S. oil and gas firms expect to raise their capital expenditures next year, as analysts have largely forecast in recent months. Yet, capital available to the industry…

2022 Could Be A Great Year For OPEC+ Producers

Dec 30, 2021 at 09:16 | Irina Slav

OPEC+ did some surprising things in the past two years. First, it broke up at the start of the pandemic with its two leaders—Saudi Arabia and Russia—turning on…

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