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OPEC Oil Reserves in Decline

OPEC Oil Reserves in Decline

Rystad Energy disputes OPEC’s claim…

News

Obama Blocks Drilling Off West Coast, Arctic Waters In Last Month Of Presidency

Obama Blocks Drilling Off West Coast, Arctic Waters In Last Month Of Presidency

Nov 18, 2016 at 17:06 | Zainab Calcuttawala

As President Barack Obama nears the end of his second term, he issued a new drilling plan to restrict oil and gas extraction activities off two American shores: the waters…

WoodMac Warns Half Of Big Oil Output May Be Hit By Carbon Costs

WoodMac Warns Half Of Big Oil Output May Be Hit By Carbon Costs

Nov 18, 2016 at 17:01 | Tsvetana Paraskova

As much as up to 50 percent of the production of oil majors could be hit by carbon costs in the next ten years if legislators that currently price carbon…

Energy Transfer Partners Will Not Reroute Dakota Access Pipeline

Energy Transfer Partners Will Not Reroute Dakota Access Pipeline

Nov 18, 2016 at 16:53 | Zainab Calcuttawala

Energy Transfer Partners (ETP), the company heading the construction of the Dakota Access Pipeline, said on Friday that it would not consider rerouting the controversial project, the Associated Press

Forcados Shut-In Dashes Nigeria’s Hopes Of Raising Oil Output In 2016

Forcados Shut-In Dashes Nigeria’s Hopes Of Raising Oil Output In 2016

Nov 18, 2016 at 13:12 | Tsvetana Paraskova

Just as Nigeria was starting to gradually increase its oil production over the past two months, fresh attacks on the Forcados pipeline earlier this month have dragged output down again,…

Trump’s Energy Policy: A Look Under The Hood

Trump’s Energy Policy: A Look Under The Hood

Nov 18, 2016 at 12:02 | Todd Royal

The stark difference between Hillary Clinton and Donald Trump was crystal clear when it came to energy before and after the election. Clinton wanted to kill coal, and since…

Energy Sector Defaults Hit 78 Since January

Energy Sector Defaults Hit 78 Since January

Nov 18, 2016 at 09:29 | Irina Slav

Some 78 energy and natural resources firms globally have defaulted so far this year, according to S&P, accounting for 53 percent of all bankruptcies worldwide in the period. At…

Iran and Iraq Asked to Freeze, Not Cut, Oil Production

Iran and Iraq Asked to Freeze, Not Cut, Oil Production

Nov 17, 2016 at 17:53 | Zainab Calcuttawala

Qatari Energy Minister Mohammed Al Sada told reporters on Thursday that both Iran and Iraq have been asked to freeze production at “current levels” as the Organization of Petroleum Exporting…

Oil Majors Set To Receive $5.1 Billion From Nigeria In Unpaid Loans

Oil Majors Set To Receive $5.1 Billion From Nigeria In Unpaid Loans

Nov 17, 2016 at 17:38 | Zainab Calcuttawala

Royal Dutch Shell, Exxon Mobil and others will receive $5.1 billion from the Nigerian government for unpaid bills dating back to 2015, according to a new deal reported by

North Asian Oil, Gas Prices Set To Rise As Winter Is Coming Early

North Asian Oil, Gas Prices Set To Rise As Winter Is Coming Early

Nov 17, 2016 at 17:19 | Tsvetana Paraskova

An early winter spell in North Asia is expected to raise oil, gas, and coal demand for power plants and domestic heating, which means there are big chances that

Saudis Bump Up Crude Oil Exports In September

Saudis Bump Up Crude Oil Exports In September

Nov 17, 2016 at 17:05 | Tsvetana Paraskova

Saudi Arabia increased its crude oil exports to 7.812 million barrels per day in September from 7.305 million bpd in August, the kingdom’s self-reported figures to the Joint Organizations…

Strikes Loom As Algeria Plans Tax Hikes To Offset Falling Oil Revenue

Strikes Loom As Algeria Plans Tax Hikes To Offset Falling Oil Revenue

Nov 17, 2016 at 12:11 | Tsvetana Paraskova

Algerian teachers and medical workers are threatening strikes against government plans to raise taxes and gasoline prices and freeze public sector salaries, in a bid to compensate for the…

South Korea Considers Upping Its Investments In U.S. Oil, Gas

South Korea Considers Upping Its Investments In U.S. Oil, Gas

Nov 17, 2016 at 10:29 | Irina Slav

In a somewhat rare post-U.S. election demonstration of practical thinking, South Korea’s deputy Energy Minister Woo Tae-hee advised private energy businesses in the country to invest more in U.S.…

US Department Of The Interior Cancels 15 Oil And Gas Leases On Sacred Sites

US Department Of The Interior Cancels 15 Oil And Gas Leases On Sacred Sites

Nov 16, 2016 at 17:38 | Lincoln Brown

15 oil and gas leases that were issued 30 years ago are now in the process of being cancelled. The Department of the Interior made the move to preserve…

Warren Buffett Dumps Oil Sands Giant Suncor

Warren Buffett Dumps Oil Sands Giant Suncor

Nov 16, 2016 at 17:14 | Zainab Calcuttawala

Berkshire Hathaway’s third-quarter regulatory filings show that the Warren Buffet-owned firm has abandoned Suncor Energy – a Canadian company that greatly benefitted from the billionaire’s financial show of support…

Train Collision In Florida Causes 4,000-Gallon Fuel Leak

Train Collision In Florida Causes 4,000-Gallon Fuel Leak

Nov 16, 2016 at 14:46 | Tsvetana Paraskova

A non-hazardous phosphate-loaded train collided head-on with a train loaded with coal in Marion County, Florida, early on Wednesday, causing a fuel leak of 4,000 gallons. The two CSX…

Russia’s Oil Output Rises 2.3 Percent Since January

Russia’s Oil Output Rises 2.3 Percent Since January

Nov 16, 2016 at 12:41 | Tsvetana Paraskova

Russia’s oil output has risen by 2.3 percent annually since the beginning of this year, deputy energy minister Kirill Molodtsov said on Wednesday, hours before his boss, energy minister…

As OPEC Optimism Buoys, Iran Remains Main Hurdle To Output Deal

As OPEC Optimism Buoys, Iran Remains Main Hurdle To Output Deal

Nov 16, 2016 at 11:42 | Tsvetana Paraskova

OPEC sources are optimistic that the cartel would manage to clinch a final deal in Vienna in two weeks’ time, while the organization is in the middle of a last-ditch…

Texas Takes Cue From Oklahoma On Earthquake Risks

Texas Takes Cue From Oklahoma On Earthquake Risks

Nov 16, 2016 at 10:12 | Irina Slav

The Texas Railroad Commissioner, Ryan Sitton, has told media that his agency will study the link between “oil and gas injection activities” and the increased risk of earthquakes. According…

Algerian Crude Exports Reach Record-High In October

Algerian Crude Exports Reach Record-High In October

Nov 16, 2016 at 09:05 | Tsvetana Paraskova

Algeria’s state-held oil company Sonatrach exported an all-time high volume of crude oil in October, Reuters reported on Tuesday, quoting a senior company official. Last month Sonatrach exported 2.77…

Oil Prices Resilient Despite API Reported Crude Inventory Build

Oil Prices Resilient Despite API Reported Crude Inventory Build

Nov 15, 2016 at 16:22 | Zainab Calcuttawala

A larger than expected build in United States crude inventories caused West Texas Intermediate prices to fall slightly after the American Petroleum Institute’s weekly supply report hit the press Tuesday…

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