• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days If hydrogen is the answer, you're asking the wrong question
  • 12 hours How Far Have We Really Gotten With Alternative Energy
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs

News

Anadarko Exits Eagle Ford

Anadarko Exits Eagle Ford

Jan 13, 2017 at 09:23 | Irina Slav

Anadarko has struck a deal to sell its assets in the Eagle Ford shale play to Sanchez Energy Corp. and Blackstone group for US$2.3 billion. The divestment, according to Anadarko…

Exxon Finds More Oil Offshore Guyana

Exxon Finds More Oil Offshore Guyana

Jan 12, 2017 at 16:06 | Tsvetana Paraskova

ExxonMobil said on Thursday that it had found high-quality, oil-bearing sandstone reservoirs offshore Guyana in South America, close to its Liza discovery in the area. Exxon drilled at the…

Despite Conflict, Yemen Tries To Win International Oil Firms Back

Despite Conflict, Yemen Tries To Win International Oil Firms Back

Jan 12, 2017 at 15:57 | Tsvetana Paraskova

There have been ‘positive indicators’ that international oil companies could resume activities and investments in Yemen, news outlet The New Arab reports, quoting a representative of the country’s exiled Saudi-backed…

Nigeria Claws Back To Regain Top African Oil Producer Slot From Angola

Nigeria Claws Back To Regain Top African Oil Producer Slot From Angola

Jan 12, 2017 at 14:33 | Damir Kaletovic

OPEC figures show that Nigeria is regaining its status as Africa’s top oil producer--a status that had been assumed by Angola for the seven months leading up to September as…

U.S. Energy Industry Eager To Start Drilling On Federal Land

U.S. Energy Industry Eager To Start Drilling On Federal Land

Jan 12, 2017 at 11:34 | Irina Slav

The United States oil and gas industry is eager to tap into hydrocarbon deposits hitherto off limits thanks to President Obama’s energy policies. President-elect Donald Trump, however, has stated he…

Dutch Railways Now 100% Powered By Wind Energy

Dutch Railways Now 100% Powered By Wind Energy

Jan 12, 2017 at 10:46 | Irina Slav

All trains running on Dutch network operator NS Dutch Railways’ lines are now powered by electricity derived entirely from wind power. The switch is a result of a partnership…

Tillerson Backs Paris Climate Agreement At Confirmation Hearing

Tillerson Backs Paris Climate Agreement At Confirmation Hearing

Jan 12, 2017 at 09:16 | Irina Slav

Secretary of State nominee Rex Tillerson said during his Senate confirmation hearing that the U.S. would be better off sticking with the Paris agreement to tackle climate change. His…

Nigerian Oil Workers Go On Strike, Stop Production At Several Flow Stations

Nigerian Oil Workers Go On Strike, Stop Production At Several Flow Stations

Jan 12, 2017 at 09:11 | Tsvetana Paraskova

Oil workers in Nigeria have stopped crude production at several flow stations owned by state-run company NNPC as labor unions went on strike on Tuesday to protest unpaid wages,

The Siberian Winter That’s Helping Russia Comply With OPEC Cuts

The Siberian Winter That’s Helping Russia Comply With OPEC Cuts

Jan 11, 2017 at 18:11 | Tsvetana Paraskova

Russia cut 100,000 bpd of its crude oil production as early as in the first few days of the New Year, but it wasn’t the agreement between OPEC and non-OPEC…

Nigeria To Track Oil Output, Sales To Prevent Theft

Nigeria To Track Oil Output, Sales To Prevent Theft

Jan 11, 2017 at 18:05 | Tsvetana Paraskova

In a bid to prevent oil thefts and curb revenue losses, Nigeria will start tracking this year the volume of its crude oil output and sales volumes and destinations, oil…

UAE Oil Minister: Too Early To Say If OPEC Deal Should Be Extended

UAE Oil Minister: Too Early To Say If OPEC Deal Should Be Extended

Jan 11, 2017 at 12:12 | Tsvetana Paraskova

It is still too early to say if the oil supply deal should be extended beyond its original six-month period at the end of the first half this year, the…

Saudis Cut February Oil Supply To Buyers In India, Southeast Asia

Saudis Cut February Oil Supply To Buyers In India, Southeast Asia

Jan 11, 2017 at 10:14 | Tsvetana Paraskova

Complying with the OPEC deal, Saudi Arabia has cut February term crude oil loadings to some buyers in India and Southeast Asia, but is shipping full delivery volumes to North…

India’s 2016 Oil Demand Jumps 11% To Record Highs

India’s 2016 Oil Demand Jumps 11% To Record Highs

Jan 11, 2017 at 09:28 | Tsvetana Paraskova

India’s economic growth and rising income pushed up vehicle sales and fuel demand last year, with oil consumption soaring 11 percent to the highest on record, according to oil…

Markets Brace As API Estimates First Crude Inventory Build In Eight Weeks

Markets Brace As API Estimates First Crude Inventory Build In Eight Weeks

Jan 10, 2017 at 16:07 | Julianne Geiger

The American Petroleum Institute (API) reported a 1.5-million-barrel build in its latest data release on Tuesday afternoon. The build to crude inventory sent oil prices downward, even though a…

Iran To Begin Gas Exports To Iraq Once Baghdad Starts Paying

Iran To Begin Gas Exports To Iraq Once Baghdad Starts Paying

Jan 10, 2017 at 16:00 | Tsvetana Paraskova

Iran is ready to begin exporting natural gas to Iraq via a pipeline as soon as Baghdad starts making payments, Iranian deputy oil minister for international affairs and trade, Amir-Hossein…

Platts Sees China’s LPG Demand Growth Slows In 2017

Platts Sees China’s LPG Demand Growth Slows In 2017

Jan 10, 2017 at 14:47 | Tsvetana Paraskova

Driven by robust industrial and petrochemical consumption, Chinese liquefied petroleum gas (LPG) demand will continue to grow this year by 10 percent, but well below the 24-percent demand jump last…

Enbridge Sells New Canadian Crude Grade To US, But No One’s Buying

Enbridge Sells New Canadian Crude Grade To US, But No One’s Buying

Jan 10, 2017 at 14:15 | Tsvetana Paraskova

Enbridge Inc has started offering the shipping of a new Canadian crude blend via pipeline to the U.S., but no refiner has bought any amount of the new grade so…

PwC Advising Saudis On $20B In Cut Projects

PwC Advising Saudis On $20B In Cut Projects

Jan 10, 2017 at 13:27 | Tsvetana Paraskova

PricewaterhouseCoopers is advising Saudi Arabia on US$20 billion worth of projects it could cancel in order to reduce the budget deficit it had amassed with the low oil prices of…

Oil Downturn Shrinks Texas 2018-19 Spend By 2.7%

Oil Downturn Shrinks Texas 2018-19 Spend By 2.7%

Jan 10, 2017 at 11:35 | Tsvetana Paraskova

Texas is expected to have around US$104.9 billion in revenue available for general-purpose spending in 2018 and 2019, down by 2.7 percent compared to the 2016-2017 period, Texas Comptroller Glenn…

Iran Close To Hitting 4-Million-Bpd Output Target

Iran Close To Hitting 4-Million-Bpd Output Target

Jan 10, 2017 at 09:57 | Irina Slav

When Saudi Arabia initiated the latest OPEC discussion about an oil production cut, Iran insisted that it would only consider joining market rebalancing efforts when it reached a daily output…

Oilprice - The No. 1 Source for Oil & Energy News