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U.S. Drilling Activity Inches Up

U.S. Drilling Activity Inches Up

The total number of active…

U.S. Sanctions on Venezuela Snap Back Into Place

U.S. Sanctions on Venezuela Snap Back Into Place

The U.S. has reimposed sanctions…

Energy / Energy-General

Rally Unwinds As Russia, Saudis Aim To Increase Oil Output

May 25, 2018 at 16:09 | Jim Hyerczyk

U.S. West Texas Intermediate crude and internationally-favored Brent crude oil are trading sharply lower on Friday, putting the market in a position to finish the week lower for the first…

OPEC Sends Oil Prices Crashing

May 25, 2018 at 13:37 | Tom Kool

Oil prices fell drastically on Friday on the back of news that Russia and Saudi Arabia are considering an increase in their oil production, bringing an end to the production…

U.S. Rig Count Rises Amid Crashing Oil Prices

May 25, 2018 at 12:18 | Julianne Geiger

US drillers added 13 rigs to the number of oil and gas rigs this week, according to Baker Hughes, with oil rigs increasing by 15 and gas rigs dipping…

Who’s To Blame For High Gasoline Prices?

May 24, 2018 at 16:54 | Nick Cunningham

As retail gasoline prices rise to $3 per gallon across the United States, gas prices are a hot political topic in Washington once again, with the Democrats hoping to slam…

Extreme Weather Causes Production Outages In Libya

May 24, 2018 at 16:22 | Irina Slav

A Libyan oil company has had to significantly reduce oil production at its fields because the hot weather has caused several turbines to stop working. The company is Agoco, a…

Pacific Island Seeks Better Deal With Exxon On LNG Expansion

May 24, 2018 at 16:18 | Tsvetana Paraskova

Papua New Guinea, an island nation in the Pacific, expected a windfall in government revenue from the US$19-billion PNG LNG liquefied natural gas project led by Exxon that started…

Shell Makes Large Deepwater Discovery In Gulf Of Mexico

May 24, 2018 at 13:07 | Tsvetana Paraskova

Shell has made a large deepwater exploration discovery in the U.S. Gulf of Mexico, just 13 miles from its Appomattox project that is expected to start production by the end…

Are Venezuelan And Iranian Oil Exports About To Plunge?

May 24, 2018 at 12:04 | Matt Smith

The threat of falling oil supply from both Iran and Venezuela looms large amid geopolitical tension, economic fears and sanctions. All the while, both are scrambling to maintain flows to…

Increasing WTI-Brent Spread Points At Higher Crude Prices

May 24, 2018 at 10:20 | ZeroHedge

Here’s a new indicator for you: It seems that the difference between the price of oil here and abroad is a measure of tightness in the market, with a rising…

Rosneft Discovers Oil Field In Iraq

May 24, 2018 at 09:33 | Irina Slav

Russia’s Rosneft has discovered a new oil field in southwestern Iraq, the company said. The first well in the field, named Salman, was drilled at over 4,000 meters and it…

Permian Growth Is Reaching Its Limits

May 23, 2018 at 15:35 | Nick Cunningham

The Permian isn’t just suffering from a bottleneck for oil, but also for natural gas. In 2016, for instance, gas flows leaving the Permian typically clocked in at about 3.6…

Mexico’s Oil Sector Set For A Jolt

May 23, 2018 at 15:35 | Nick Cunningham

Several years on from the semi-privatization of its oil sector, Mexico has lined up tens of billions of dollars of potential investment in offshore drilling. But just as the fruits…

Norway’s Wealth Fund One Step Closer To Ditching Oil

May 23, 2018 at 12:35 | Tsvetana Paraskova

The world’s biggest sovereign wealth fund, Norway’s US$1-trillion Government Pension Fund Global, has won support from top Norwegian economists and academics for its plan to dump oil and gas stocks.…

Why Southern Company Just Sold Billions In Prime Assets

May 23, 2018 at 12:15 | Leonard Hyman & William Tilles

On May 21, Southern Company, the utility holding company based in Atlanta, with core electric utility franchise areas in Georgia and Alabama, announced a multi-billion dollar asset sale with proceeds…

High Gas Prices May Spoil Driving Season

May 23, 2018 at 11:55 | ZeroHedge

With the national average gas price continuing its trudge toward $3 a barrel, pushed by rising crude oil prices, GasBuddy is reporting that more Americans are planning stay-cations instead…

Iran Tensions Send Oil Spiking Again

May 22, 2018 at 13:15 | Tom Kool

Oil prices rose on Monday after the U.S. announced a bellicose list of demands on Iran, leaving little chance of a new accord. (Click…

Steel Tariffs Raise Costs For Texas Oil Producers

May 22, 2018 at 11:59 | Tsvetana Paraskova

The imposition of steel import tariffs and quotas will directly burden Texas oil and gas producers with higher costs for oilfield steel goods, which could result in job losses, reduced…

Can Angola Overcome Its Oil Production Decline?

May 22, 2018 at 10:57 | Tsvetana Paraskova

OPEC member Angola is halving the tax rates on development of oil discoveries with less than 300 million barrels of reserves as new President Joao Lourenco is trying to…

Consumer Authority Rejects Tesla Model 3

May 22, 2018 at 09:27 | Irina Slav

Consumer Reports, the product review and rating magazine, has decided not to recommend Tesla Model 3 to its readers after doing a series of tests on the vehicle. The…

EVs Could Erase 7 Million Bpd In Demand

May 21, 2018 at 17:51 | Nick Cunningham

Electric vehicles will become cheaper than the internal combustion engine in a half decade, while electric buses will completely “dominate” its sector by the late-2020s, according to Bloomberg New Energy…

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