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Energy

Saudi Aramco To Invest In India’s Biggest Refinery

Apr 06, 2017 at 12:32 | Tsvetana Paraskova

Saudi Aramco is in talks to buy a stake in a planned refinery expected to be built on India’s west coast that would be the country’s biggest refinery and…

Most Middle East Oil Producers Won’t Break Even This Year

Apr 06, 2017 at 10:41 | Irina Slav

Most crude oil producers in the Middle East, Africa and the emerging economies of Europe (EEMEA) won’t be able to patch up their budgets this year, Fitch Ratings warned, forecasting…

Canadian Oil Prices Surge As Upgrader Goes Offline

Apr 06, 2017 at 09:41 | Irina Slav

An unscheduled suspension of operations at Syncrude’s upgrader in Alberta has lifted Canadian oil prices substantially, also strengthening U.S. blends that make up WTI, as the bulk of Canadian…

OPEC’s No.2 Goes Rogue: Plans 600,000 Bpd Oil Output Increase

Apr 05, 2017 at 16:47 | Irina Slav

Iraq has plans to boost its crude oil production by 600,000 bpd to 5 million bpd by the end of this year, regardless of its participation in OPEC’s production…

The Insignificant Truth: Why Gasoline And Distillate Draws Don’t Matter

Apr 05, 2017 at 16:42 | Rakesh Upadhyay

The oil products that we use—such as gasoline, diesel, and heating oil—are all refined from crude oil. If the demand for these refined products increases, then the demand for crude…

Obliterating ISIS May Hamper Iraqi Oil Production

Apr 05, 2017 at 16:39 | Nick Cunningham

Iraq says it cut output by 300,000 bpd in March, taking production down to an average of 4.464 million barrels per day (mb/d). That puts Iraq at about 98…

Exxon To Enter The Most Sought After Oil Play In The World

Apr 05, 2017 at 14:07 | Nick Cunningham

The Wall Street Journal reported that Exxon is looking to jump into Brazil’s offshore sector, one of a few areas of exploration where there are still enormous volumes of known…

China Just Became The No.1 Buyer Of U.S. Crude

Apr 05, 2017 at 13:54 | Tsvetana Paraskova

While OPEC is implementing production cuts, U.S. crude oil exports are steadily growing and winning customers even in China. In February, China was the biggest buyer of U.S. light crude…

Oil Erases Gains After Inventory Head-Fake

Apr 05, 2017 at 13:14 | Matt Smith

The crude complex is feeling charitable today, giving away most of its overnight gains, as last night's bullish API report head-faked the market. As Nonfarm Friday looms next on the…

OPEC Deal Extension Looks Shaky As Shale Hedges Production

Apr 05, 2017 at 12:16 | Precise Consultants

You’ve got to feel for the guy who hit ‘Send’. That statement would have been written, read by a committee, re-written with countless minor words removed or added before finally…

The Largest-Ever Hard Assets Fund Bodes Well For Energy

Apr 05, 2017 at 10:19 | Dave Forest

Private equity continues to rise as a force in natural resources, with the resource PE industry this week unveiling the largest fund raised in global history. Private equity analysts Preqin…

Oil Prices Plunge After Crude Inventories Rise To New Highs

Apr 05, 2017 at 09:50 | Irina Slav

A day after the American Petroleum Institute estimated commercial U.S. crude oil inventories hade declined by 1.83 million barrels last week and amid an unplanned production outage at…

Tanker Traffic Points At Much Tighter Oil Markets

Apr 04, 2017 at 17:47 | Nick Cunningham

Oil prices have rallied more than 6 percent since last week, which has largely been attributed to growing confidence in a six-month extension from OPEC combined with a…

Are Mexico’s Oil Reserves Almost Depleted?

Apr 04, 2017 at 16:44 | Tsvetana Paraskova

Mexico’s oil and gas regulator said last week that the country’s proved hydrocarbon reserves will drop by 10.6 percent in 2017. This forecast, coupled with the lower oil production that…

Is Natural Gas In The Midst Of A Boom-Bust Cycle?

Apr 04, 2017 at 16:34 | Gregory Brew

After six decades of relying on outside sources, the United States is poised to become a consistent net exporter of natural gas. The shale boom and the rush to…

World’s Biggest LNG Exporter Just Raised The Stakes

Apr 04, 2017 at 14:44 | Irina Slav

Qatar, the world’s biggest LNG exporter, is throwing the gauntlet to other large producers around the world by removing a drilling ban for its part of the North Field –…

Don’t Be Fooled By Daily Oil Prices

Apr 04, 2017 at 14:29 | David Melton

What is the daily price of oil? It is a flash on a bank sign on Wall Street in downtown Midland. It is something people love to modify readily to…

Oil Jumps On Growing Support For OPEC Deal Extension

Apr 04, 2017 at 14:00 | Tom Kool

Oil prices rose at the beginning of the week on the back of drawing inventories and increased support for an extension of the OPEC output cut deal.

Saudi Arabia Alters Oil Pricing To Attract European Buyers

Apr 04, 2017 at 13:24 | Tsvetana Paraskova

Saudi Arabia is trying to lure buyers from European markets by changing the way it prices its oil in order to make it easier for hedging, Reuters reported on…

When Will Russia Run Out Of Oil?

Apr 04, 2017 at 10:57 | Viktor Katona

On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. In 2016, only 3.7 billion barrels of conventional oil were discovered,…

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