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News

Total U.S. Rig Count Drop Over 50%

Total U.S. Rig Count Drop Over 50%

Apr 17, 2015 at 14:25 | ZeroHedge

Rig counts fell for a record 19th week in a row. Total rigs dropped 34 to 954 and oil rigs dropped 26 to 374. This means…

100 Billion Barrels Of Oil Below Gatwick? Maybe Not

100 Billion Barrels Of Oil Below Gatwick? Maybe Not

Apr 16, 2015 at 15:54 | Andy Tully

Only last week UK Oil and Gas Investments (UKOG) announced that it had discovered an oilfield in the Weald Basin near London’s Gatwick Airport holding as…

Oil Market Too Murky To Call Says IEA

Oil Market Too Murky To Call Says IEA

Apr 16, 2015 at 15:43 | Andy Tully

It was in late June of 2014 that oil prices began their steep decline, but 10 months later there’s still no indication of when and how…

No Room For Iranian Oil In Current OPEC Strategy

No Room For Iranian Oil In Current OPEC Strategy

Apr 15, 2015 at 15:14 | Andy Tully

Tehran, apparently confident that it soon will be free of sanctions, is now urging OPEC to cut production to allow for the return of Iran to…

Current Crisis May Be A Blessing In Disguise For Russia

Current Crisis May Be A Blessing In Disguise For Russia

Apr 15, 2015 at 15:10 | Yale Global

Oil and sustainability: Russian President Vladimir Putin opens the Siberian crude oil pipeline to China (top); western…

How Russia And Iran Are Sidestepping Western Sanctions

How Russia And Iran Are Sidestepping Western Sanctions

Apr 14, 2015 at 15:56 | Andy Tully

An oil-for-goods barter system between Iran and Russia is well under way and is not affected by the sanctions imposed on some trade with Iran because…

Technology To Clean Up Fukushima Plant Doesn’t Exist Yet

Technology To Clean Up Fukushima Plant Doesn’t Exist Yet

Apr 14, 2015 at 15:51 | Andy Tully

The once-promising, shape-shifting robot designed specifically to assess the status of the No. 1 Fukushima Daiichi power plant has stalled and likely broken down completely, leaving…

Shell’s Arctic Fate To Be Decided Soon

Shell’s Arctic Fate To Be Decided Soon

Apr 13, 2015 at 15:07 | Andy Tully

The US government has begun its full review of an application by Royal Dutch Shell to resume offshore drilling for oil and gas in the Arctic…

Deepwater Horizon’s 5 Year Anniversary Comes With New Regulations

Deepwater Horizon’s 5 Year Anniversary Comes With New Regulations

Apr 13, 2015 at 14:59 | Andy Tully

The Obama administration is proposing a new regulation on offshore oil and gas drilling meant to prevent the kind of accident that caused the deadly explosion…

World Oil Demand On The Rise Says Saudi Oil Minister

World Oil Demand On The Rise Says Saudi Oil Minister

Apr 10, 2015 at 17:18 | Andy Tully

Saudi Arabia’s oil production was up to 10.3 million barrels in March, and an senior Saudi energy official says that will meet an annual global rise in demand of as…

Iran And China Settle Old Differences To Decide Shared Energy Future

Iran And China Settle Old Differences To Decide Shared Energy Future

Apr 09, 2015 at 16:47 | Andy Tully

Iranian Oil Minister Bijan Zanganeh went to Beijing this week to discuss providing increased oil to China, when and if sanctions are lifted, and to settle…

Shell/BG Merger Could Be The Start Of A Major Trend In 2015

Shell/BG Merger Could Be The Start Of A Major Trend In 2015

Apr 09, 2015 at 16:42 | Andy Tully

Now that Royal Dutch Shell has offered to buy BG Group for $69.6 billion, all attention is moving from a laser focus on this merger to…

U.S. Gasoline Prices To Remain Low Through The Summer

U.S. Gasoline Prices To Remain Low Through The Summer

Apr 08, 2015 at 16:23 | Andy Tully

For American motorists the news is good: The price of gasoline during the coming summer driving season will remain at its lowest since 2009. For oil…

Shell Confirms $69.6bln. Bid To Take Over BG Group

Shell Confirms $69.6bln. Bid To Take Over BG Group

Apr 08, 2015 at 16:20 | Andy Tully

Energy giant Royal Dutch Shell intends to buy BG Group for $69.6 billion to create the largest company dealing in liquefied natural gas (LNG) and eliminate…

Stronger Rail Cars Needed To Stop Oil “Bomb Trains”

Stronger Rail Cars Needed To Stop Oil “Bomb Trains”

Apr 07, 2015 at 16:44 | Andy Tully

The National Transportation Safety Board (NTSB), citing recent fiery train crashes, wants new regulations requiring that oil tank rail cars be replaced or at least modified…

Russia Reaches Oil And Gas Agreement With Vietnam

Russia Reaches Oil And Gas Agreement With Vietnam

Apr 07, 2015 at 16:42 | Andy Tully

The Russian oil company Gazprom Neft has tentatively agreed to buy a 49 percent share of Vietnam’s only oil refinery and to join with PetroVietnam in…

Russian-Ukrainian Relations Thaw Slightly Over New Gas Deal

Russian-Ukrainian Relations Thaw Slightly Over New Gas Deal

Apr 06, 2015 at 16:04 | Andy Tully

Two weeks ago, Ukraine said it would suspend importing Russian gas when the countries’ contract expired on March 31, primarily because of the high price,…

Libya’s Ongoing Conflict For Control Of Oil Exports

Libya’s Ongoing Conflict For Control Of Oil Exports

Apr 06, 2015 at 16:04 | Andy Tully

Libya’s internationally recognized government of Prime Minister Abdullah al-Thinni plans to sell the country’s oil itself and shift proceeds to a friendly foreign bank to keep…

Did China’s ‘Warren Buffett’ Rig His Own Stocks?

Did China’s ‘Warren Buffett’ Rig His Own Stocks?

Apr 06, 2015 at 15:54 | ZeroHedge

With 30% of the 'money' in Chinese stocks officially 'dumb money' and leverage of epic proportions, it is hardly surprising that the wealthiest of wealthy are - allegedly - taking…

British Companies Find Oil Off Falklands; Argentina Threatens Prosecution

British Companies Find Oil Off Falklands; Argentina Threatens Prosecution

Apr 03, 2015 at 17:30 | Andy Tully

The UK and Argentina marked the 33rd anniversary of the start of their 10-week Falklands War with British energy companies announcing the discovery of oil and…

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