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Breaking News:

OPEC’s Oil Production Falls in April

Energy

Oil Prices Spike On Libyan Violence

Apr 08, 2019 at 16:57 | Nick Cunningham

The Libyan National Army (LNA) has launched a campaign to take over Tripoli and oust the internationally-recognized government, the latest phase in a long-running civil war that has simmered since…

Has Brazil's Oil Boom Been Overstated?

Apr 08, 2019 at 16:41 | Nick Cunningham

Recent hiccups for Brazilian oil supply call into question the growth projections for the country, with implications for the global oil market. Brazil’s oil production slipped by 65,000 bpd in…

Self-Sufficient Floating Islands May Soon Become Reality

Apr 08, 2019 at 13:49 | Irina Slav

Technology has made a lot of things once only seen in sci-fi works of fiction a reality, and now floating cities may join the list. Earlier this month, UN-Habitat, the…

Energy Minister: Saudi Arabia Could Be Natural Gas Exporter In Five Years

Apr 08, 2019 at 13:39 | Tsvetana Paraskova

Saudi Arabia could begin natural gas exports in five-six years as it has already begun talks with neighboring Gulf Arab states to build natural gas pipelines, S&P Global Platts…

Aramco’s Mega Debt Deal Is A Raging Success

Apr 08, 2019 at 11:26 | ZeroHedge

Just a day after the Saudis allegedly threatened the hegemony of the almighty petrodollar, Saudi Aramco began the sale of its first-ever dollar bonds with an order-book of around $40 billion. Ahead…

Oil & Gas Discoveries On The Rise As Oil Majors Dive In

Apr 08, 2019 at 10:31 | Rystad Energy

Oil and gas exploration is off to a flying start in 2019, with majors taking a bigger bite of the conventional resources discovered in the first quarter, according to Rystad…

Nigeria Boasts Oil Production Cost of $23 Per Barrel

Apr 08, 2019 at 09:31 | Irina Slav

The average production cost for a barrel of oil in Nigeria has declined to just US$23 a barrel, Petroleum Minister Emmanuel Ibe Kachikwu told local media, adding that oil…

Saudis Threaten ‘Nuclear Option’ To Kill Petrodollar

Apr 05, 2019 at 18:35 | Nick Cunningham

Saudi Arabia threatened to use the “nuclear option” of undermining the petro-dollar if the U.S. moves forward with the NOPEC bill. The U.S. Congress has been mulling legislation, known…

Oil Markets On Edge As Military Clash Looms In Libya

Apr 05, 2019 at 18:28 | Cyril Widdershoven

Libya is heading for a military showdown as East Libyan strongman General Haftar has initiated a full confrontation with the UN-backed West-Libyan GNA Al Serraj government, based in Tripoli. After…

Goldman: The Renewables Revolution Is Good For Big Oil

Apr 05, 2019 at 18:23 | Irina Slav

The renewable energy revolution that many have been seen as a threat for the oil and gas industry will actually benefit one significant segment of it: Big Oil. That’s what…

Why Oil Prices Rallied 30% This Year

Apr 05, 2019 at 18:20 | Tsvetana Paraskova

Oil prices gained around 30 percent in the first quarter this year, with both WTI and Brent posting their best quarterly performance in a decade—since the second quarter of…

Aramco’s True Breakeven Price

Apr 05, 2019 at 18:17 | Robert Rapier

Saudi Aramco, the national oil company of Saudi Arabia, is by far the largest oil company in the world. The company produces around 13 percent of the world’s oil, but…

Midstream Outperforms In First Quarter

Apr 05, 2019 at 18:13 | Robert Rapier

The first quarter of the year is in the books. Following a steep sell-off in December, the S&P 500 returned 13.1 percent for the quarter, its best quarterly performance in…

Platts Survey: OPEC Oil Production Down To More Than 4-Year Low

Apr 05, 2019 at 16:19 | Tsvetana Paraskova

Over-delivering Saudi Arabia and blackouts in Venezuela helped push OPEC’s crude oil production down by 570,000 bpd from February to 30.23 million bpd in March—the lowest production from the cartel…

Oil Hits $70 On Libya Unrest, Crisis In Venezuela

Apr 05, 2019 at 14:47 | Tom Kool

Crude rallied on Friday morning, ending the week on a bullish note as traders are increasingly concerned about global supply outages.

Sharp Rise In Rig Count Pressures Oil Prices

Apr 05, 2019 at 12:16 | Julianne Geiger

The the number of active oil and gas rigs rose by 19 after two weeks of big losses in the United States this week according to Baker Hughes, in a…

Saudi Arabia Threatens To Drop Dollar For Oil Trades

Apr 05, 2019 at 10:15 | Irina Slav

Saudi Arabia has threatened the United States to stop using dollars for its oil trades in an attempt to discourage legislators from passing a bill dubbed NOPEC aimed at holding…

The World’s Cheapest Natural Gas

Apr 04, 2019 at 18:02 | Nick Cunningham

Natural gas prices fell into record negative territory in the Permian basin, dragged down by booming oil production and a limited ability to move gas out of the region. Unlike…

Russia Seeks New Arctic Oil Frontier

Apr 04, 2019 at 17:08 | Tsvetana Paraskova

Rosneft, Russia’s state-controlled oil company and the largest oil producer in the country, plans to develop an Arctic cluster of oil fields over the next five years. These plans by…

Is This The End Of Colorado’s Shale Boom?

Apr 04, 2019 at 14:43 | Nick Cunningham

Colorado has hosted a surge in oil and gas production in the last few years, but the industry faces new challenges as the state overhauls its regulatory regime. Much of…

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