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Oil Prices Gain 2% on Tightening Supply

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Ivory Coast Discovery For Anadarko Amid First-Quarter Losses

Ivory Coast Discovery For Anadarko Amid First-Quarter Losses

May 03, 2016 at 11:52 | James Burgess

Suffering somewhat from first quarter losses reported on Monday, it’s good news for Anadarko in the Ivory Coast, where it has successfully drilled its first horizontal…

Hedge Fund Guru Throws Weight Behind Nat Gas Futures

Hedge Fund Guru Throws Weight Behind Nat Gas Futures

May 03, 2016 at 10:02 | Charles Kennedy

Major head fund manager David Einhorn of Greenlight Capital is taking a long, macro position in natural gas, expecting prices to climb further as wells deplete…

European Commission Forecasts $41 Brent for 2016

European Commission Forecasts $41 Brent for 2016

May 03, 2016 at 09:06 | James Burgess

The European Commission is now forecasting that Brent crude oil prices will average $41.1 per barrel for the rest of this year, and $45.9 per…

U.S. Gasoline Prices Hit 6 Month High, Keep Rising

U.S. Gasoline Prices Hit 6 Month High, Keep Rising

May 02, 2016 at 15:20 | Charles Kennedy

The average price of gas is now hovering at a cost that is rather unattractive to drivers at $2.22 per gallon, according to AAA. The increase…

Dwindling Revenues May Force Enbridge To Sell Its U.S. NatGas Assets

Dwindling Revenues May Force Enbridge To Sell Its U.S. NatGas Assets

May 02, 2016 at 15:06 | James Burgess

Suffering from a 51-percent decline in revenues in the first quarter of this year, reports are emerging that Canadian Enbridge Energy Partners LP may seek to…

After False Start, Chevron to Resume Gorgon LNG Production

After False Start, Chevron to Resume Gorgon LNG Production

May 02, 2016 at 14:42 | James Burgess

U.S. energy giant Chevron said it expected to resume production at the Gorgon liquefied natural gas (LNG) project off the coast of Western Australia later this…

These Two U.S. Drillers Just Filed For Bankruptcy

These Two U.S. Drillers Just Filed For Bankruptcy

May 02, 2016 at 14:21 | Charles Kennedy

Two more oil companies have filed for Chapter 11 bankruptcy protection, as crude oil prices hover just above $45 per barrel and financial woes take…

BP Wins Small Victory Over Disgruntled Shareholders

BP Wins Small Victory Over Disgruntled Shareholders

May 02, 2016 at 13:59 | James Burgess

The US Supreme Court on Monday denied a request for appeal made by angry BP shareholders who filed a class action lawsuit against UK oil…

EIA: Gulf of Mexico Production Doesn’t Outweigh Shale Decline

EIA: Gulf of Mexico Production Doesn’t Outweigh Shale Decline

May 02, 2016 at 12:10 | Charles Kennedy

Oil production in the United States fell to 9.129 mbpd from 9.180 mbpd in February, which equals a 0.6 percent decline, according to the data released…

EIA: Beleagured Coal Loses More Power Generation Market Share

EIA: Beleagured Coal Loses More Power Generation Market Share

May 02, 2016 at 11:27 | James Burgess

Consumption of coal used for electricity generation in the U.S. electric power sector fell 29 percent from its peak of 1,045 million short tons in 2007…

U.S. Natural Gas Prices Jump After Pennsylvania Pipeline Explosion

U.S. Natural Gas Prices Jump After Pennsylvania Pipeline Explosion

May 02, 2016 at 11:11 | Charles Kennedy

Natural gas prices have jumped in the aftermath of an explosion Friday in western Pennsylvania which destroyed one home, damaged at least three others and seriously…

Dead Sea Alive Again With New Oil Worth $322 Million

Dead Sea Alive Again With New Oil Worth $322 Million

May 02, 2016 at 10:36 | James Burgess

An old oil well in the Dead Sea is now believed to contain reserves of 7 to 11 million barrels according to a report commissioned by…

Oilfield Services Merger of the Decade Nixed Amid Strong Opposition

Oilfield Services Merger of the Decade Nixed Amid Strong Opposition

May 02, 2016 at 09:08 | James Burgess

Oilfield services giants Halliburton and Baker Hughes have called off an almost $26 billion merger amid strong opposition from US and EU anti-trust regulators who feared…

U.S Onshore Production Sees Deep Decline, Can Offshore Offset It?

U.S Onshore Production Sees Deep Decline, Can Offshore Offset It?

Apr 29, 2016 at 16:30 | Ron Patterson

The Texas Railroad Commission (RRC of TX) updated its online database a few weeks ago. The best estimates I have seen for Texas C+C and natural…

OPEC Ramps Up Production And Saudi Exports Near Record High

OPEC Ramps Up Production And Saudi Exports Near Record High

Apr 29, 2016 at 10:55 | ZeroHedge

In one of the least surprising highlights from the ongoing earnings season, yesterday we reported that as oil continues to rise, U.S. shale companies are starting to resume mothballed…

BP’s Quarterly “Profit” May Not Be What It Seems

BP’s Quarterly “Profit” May Not Be What It Seems

Apr 28, 2016 at 13:24 | Irina Slav

BP reported an underlying net profit of $532 million for the first quarter of the year and its shares immediately jumped on the London Stock…

50% Of Proved Oil Reserves May Have Just Vanished

50% Of Proved Oil Reserves May Have Just Vanished

Apr 27, 2016 at 15:32 | Ron Patterson

Where did all the oil go? The peak is back An extensive new scientific analysis published in Wiley Interdisciplinary Reviews: Energy & Environment says…

The $2 Trillion Gamble That Saudi Arabia Cannot Win

The $2 Trillion Gamble That Saudi Arabia Cannot Win

Apr 26, 2016 at 15:10 | Juan Cole

Prince Muhammad Bin Salman, 30, the deputy crown prince of Saudi Arabia laid out his vision for Saudi Arabia on Monday in a plan called…

Alberta’s Economic Woes Continue With Credit Rating Downgrade

Alberta’s Economic Woes Continue With Credit Rating Downgrade

Apr 26, 2016 at 14:59 | ZeroHedge

Regular readers know that we've covered Alberta's decline at length (refresher here), so there is no need to give much of a backstory other than to…

Does A Low Carbon Future Mean More Natural Gas?

Does A Low Carbon Future Mean More Natural Gas?

Apr 26, 2016 at 14:00 | Leonard Hyman & William Tilles

One hundred seventy one nations signed the UN’s Paris agreement on climate change on April 22. But before that, the European Commission on Climate Action recommended…

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