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Energy / Crude Oil

Which U.S. States Are Most Dependent On Fossil Fuels?

Aug 26, 2021 at 13:16 | Alex Kimani

Last week, the Intergovernmental Panel on Climate Change delivered its starkest warning yet about the deepening climate emergency, saying a key temperature limit…

The Permian Is Set To Thrive Through 2025

Aug 26, 2021 at 13:14 | Felicity Bradstock

The Permian Basin looks strong until at least 2025 despite challenges from Biden's alternative energy push, with oil output climbing steadily after its dip during the 2020 pandemic,…

Alaska’s Oil Industry May Be On Its Last Legs

Aug 26, 2021 at 12:44 | Felicity Bradstock

Last week a judge halted the latest Alaskan oil project following a year of disappointment due to the Covid related drop in oil demand and the cancellation of…

Chinese Oil Major Sinopec Announces Oil, Gas Discovery

Aug 26, 2021 at 09:28 | Charles Kennedy

China’s state-owned oil and gas major Sinopec has struck oil and gas at a field in the northwestern province of Xinjiang, Reuters reports, adding that the reserves at the…

BP Spins Off Operations Of Iraq’s Largest Oilfield

Aug 26, 2021 at 08:47 | Tsvetana Paraskova

BP is spinning off its assets in Iraq by setting up a joint venture with PetroChina which will manage Iraq’s largest oilfield Rumaila as the UK-based supermajor is looking…

Frackers See Light At The End Of The Tunnel In Oil Markets

Aug 25, 2021 at 11:56 | Tsvetana Paraskova

Recovering global oil demand and drilling activity has made oilfield services firms optimistic about the sector’s prospects not only in the immediate future but also in the medium…

Oil Ticks Higher On Crude Inventory Draw

Aug 25, 2021 at 09:37 | Irina Slav

Oil prices recouped some of their latest losses today, after the Energy Information Administration reported a crude oil inventory draw of 3 million barrels for the week to August…

China And Iran Zero-In On Oman’s Massive New Oil Storage Project

Aug 24, 2021 at 14:47 | Simon Watkins

Oman occupies a strategically vital position in the geography of the Middle East, possessing long coastlines along the Gulf of Oman and along the Arabian Sea, away from…

Oil Glut In Asia Worsens

Aug 24, 2021 at 09:51 | Irina Slav

The amount of oil held in floating storage at Asian ports is growing, with Iranian and Venezuelan crude cargoes earlier this month pushing Asian floating inventories to the highest in…

Who Will Fund Russia’s Answer To U.S. Shale?

Aug 23, 2021 at 11:06 | Simon Watkins

Russia regards its Arctic oil and gas development in the same way that the U.S. saw its shale oil and gas sector around 20 years ago, which is…

Merger Mania Is Over: Oil Deals To See Quietest Year In Decades

Aug 23, 2021 at 10:39 | Alex Kimani

ir Winston Churchill once admonished leaders to never let a good crisis go to waste, and Big Oil has rarely failed to heed the advice. Under normal circumstances,…

Why South America Is Big Oil’s New Favorite Continent

Aug 23, 2021 at 10:31 | Matthew Smith

South America continues to feature prominently among petroleum industry headlines. Offshore Brazil and Guyana have become the focal point of what is shaping up to be the continent’s…

Brazil Could Provide A Quarter Of The World’s Offshore Oil In 4 Years

Aug 23, 2021 at 10:27 | Felicity Bradstock

As Brazil’s oil industry looks set to soar over the next decade, with the potential to provide almost a quarter of the world’s offshore oil by 2025, Big…

Oil Rebounds 3% After Seven-Day Losing Streak

Aug 23, 2021 at 07:49 | Tsvetana Paraskova

Oil prices jumped 3% early on Monday, snapping the longest losing streak since 2019 of seven consecutive settlements in the red, as investor risk appetite increased and the U.S. dollar…

Russia Has Big Plans For Arctic Oil

Aug 20, 2021 at 12:48 | Haley Zaremba

Russia seems intent on selling the world’s very last barrel of oil. As other energy superpowers and petro-states around the world scramble to diversify their economies and establish…

U.S. Refiners Are Making A Comeback

Aug 19, 2021 at 10:25 | Michael Kern

The pandemic very likely hit the downstream oil even more severely than exploration and production and led to longer suffering. But now, things are finally beginning to look…

Biden Faces Off With Big Oil Over Drilling Auctions

Aug 19, 2021 at 10:22 | Felicity Bradstock

The ongoing situation for 2021 in the U.S. appears to be Big Oil versus Biden, as once again major U.S. oil industry groups are…

New Wave Of COVID Is Nightmare For Gulf Oil Producers

Aug 18, 2021 at 10:28 | Gerald Jansen

The resurgence of COVID in China could not have happened at a worse time for Middle Eastern producers. Saudi Arabia brought back all its 1 mbpd voluntary production…

Another Wave Of COVID Could Dampen Oil Demand

Aug 18, 2021 at 10:06 | Irina Slav

The latest resurgence of the coronavirus that last year virtually shut down most of the world has considerably clouded the previously bright outlook for crude oil demand, driving…

Oil Jumps As Crude Inventories Fall

Aug 18, 2021 at 09:38 | Irina Slav

Crude oil prices climbed higher today after the Energy Information Administration reported an inventory draw of 3.2 million barrels for the week to August 13. This compared with a…

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