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News

Environmentalists Furious Over Latest Shell Arctic Drilling Permit

Environmentalists Furious Over Latest Shell Arctic Drilling Permit

May 12, 2015 at 16:08 | Andy Tully

Environmentalists are furious that the Obama administration has given conditional approval to Royal Dutch Shell’s plans to explore for oil and gas in the Arctic Ocean, given its troubled history…

Iran Already Negotiating With Potential Western Oil Customers

Iran Already Negotiating With Potential Western Oil Customers

May 11, 2015 at 15:56 | Andy Tully

Iran already is holding meetings with potential European and other Western customers about buying its oil, a further indication of the country's confidence that most or all of the UN…

Greece May Be Key Player In European Energy Security

Greece May Be Key Player In European Energy Security

May 11, 2015 at 15:50 | Andy Tully

The United States is reporting some success in persuading Greece to accommodate a Western-backed pipeline through Turkey to supply Europe with gas from the Caspian Sea rather than an alternative…

More Bad News For North Dakota’s Oil Industry

More Bad News For North Dakota’s Oil Industry

May 08, 2015 at 17:00 | Andy Tully

This hasn’t been a good week for the oil industry in North Dakota.First, a train carrying crude for Hess Corp. derailed and burned in central North Dakota…

Iran May Invest In Major European Energy Project

Iran May Invest In Major European Energy Project

May 08, 2015 at 16:55 | Andy Tully

Turkey’s Trans-Anatolian Pipeline (TANAP), conceived to deliver gas from Azerbaijan to Europe, has become so popular recently that Turkmenistan also wants to use it, and now even Iran is interested…

Oil Train Derails, Burns in North Dakota In 6th Such Incident Of 2015

Oil Train Derails, Burns in North Dakota In 6th Such Incident Of 2015

May 07, 2015 at 14:41 | Andy Tully

It was only on May 1 that the United States and Canada announced stricter new rules for oil trains, but five days later a train carrying crude derailed and…

Iran Could Play An Important Role In EU Energy Security

Iran Could Play An Important Role In EU Energy Security

May 07, 2015 at 14:34 | Eurasianet

With the world’s fourth largest gas reserves, Turkmenistan has enough to keep everybody happy. But for the remote Central Asia country and its suitors, taking the potential and turning it…

Low Oil Prices Hammer Canadian Trade Deficit

Low Oil Prices Hammer Canadian Trade Deficit

May 06, 2015 at 16:35 | Andy Tully

It was the persistently low price of oil, combined with a rise in imports, that pushed Canada’s trade deficit to a record high in March.The shortfall rose to…

Saudi Arabia “Not Worried At All” About Iranian Return To Oil Market

Saudi Arabia “Not Worried At All” About Iranian Return To Oil Market

May 06, 2015 at 16:29 | Andy Tully

“No one can set the price of oil,” Saudi Oil Minister Ali al-Naimi says. “It’s up to Allah.”Was that comment, made in an interview May 5 on…

Global Oil Production Up One Million bpd In March

Global Oil Production Up One Million bpd In March

May 05, 2015 at 16:21 | Euan Mearns

The main oil production changes from February to March are: World total liquids up 1,000,000 bpd OPEC up 890,000 bpd N America up 80,000 bpd Russia and FSU up…

Myanmar: The Next Frontier For Offshore Oil

Myanmar: The Next Frontier For Offshore Oil

May 05, 2015 at 15:54 | Andy Tully

The government of Myanmar is further opening up to international business by signing a deal with two foreign energy companies, Statoil of Norway and ConocoPhillips of the United States, who…

Turkmen Gas Deal Could Save Europe

Turkmen Gas Deal Could Save Europe

May 04, 2015 at 16:02 | Andy Tully

The European Union is looking for ways to diversify its source of gas to reduce its dependence on Russia. Turkmenistan is looking for ways to

New Oil By Rail Safety Regs Not Nearly Enough

New Oil By Rail Safety Regs Not Nearly Enough

May 04, 2015 at 15:49 | Andy Tully

The stricter new safety standards being imposed by US and Canadian officials on trains hauling crude oil aren’t sitting well with either the rail…

Refining Saves The Day For Exxon and Shell

Refining Saves The Day For Exxon and Shell

May 03, 2015 at 17:33 | Andy Tully

The low oil prices that have been dogging the energy industry led to dramatically lower quarterly earnings for Royal Dutch Shell and Exxon Mobil, but the…

Russian Economy May Be Stumbling Back To Its Feet

Russian Economy May Be Stumbling Back To Its Feet

May 03, 2015 at 10:55 | Andy Tully

The Bank of Russia has cut interest rates for the third time so far this year, reinforcing forecasts by some government ministers that the country’s economic…

Gazprom In Dire Straits As Profits Plunge 86 Percent

Gazprom In Dire Straits As Profits Plunge 86 Percent

Apr 30, 2015 at 16:20 | Andy Tully

Gazprom, Russia’s state-controlled gas company, suffered an 86 percent dive in net profits during 2014, due primarily to the decline in the value of the ruble,…

Saudi Oil Minister Remains In Place After Shakeup

Saudi Oil Minister Remains In Place After Shakeup

Apr 30, 2015 at 16:18 | Andy Tully

  The leadership shakeup by Saudi King Salman bin Abdulaziz al-Saud completely changed the kingdom's line of succession, bringing in younger heirs and abandoning the practice…

Historic Deal For Super Tankers Could Be Major Boost For Mining Sector

Historic Deal For Super Tankers Could Be Major Boost For Mining Sector

Apr 30, 2015 at 16:13 | MINING.com

Valemax leaving one of Brazil’s top ports.(Image from archives) Iron ore giant Vale (NYSE:VALE), the world’s No.…

Concerned Russia To Meet OPEC Members Before June’s Cartel Meeting

Concerned Russia To Meet OPEC Members Before June’s Cartel Meeting

Apr 29, 2015 at 14:01 | Andy Tully

Russia, clearly worried about the effect of low oil prices on its economy, is sending Energy Minister Alexander Novak to meet with OPEC members just before…

Saudi Arabia On Sales Offensive In Asia

Saudi Arabia On Sales Offensive In Asia

Apr 29, 2015 at 13:56 | Andy Tully

Saudi Oil Minister Ali al-Naimi says his country, which is already pumping oil at a near-record pace, is prepared to produce even more to satisfy what…

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