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News

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…

OPEC Revenues Suffer In Oil Price War Of Attrition

OPEC Revenues Suffer In Oil Price War Of Attrition

Apr 02, 2015 at 17:30 | Andy Tully

The 9-month-old plunge in the price of oil combined with a decrease in exports cut into OPEC’s net earnings in 2014, according to estimates by the…

Delayed Effects Of Sanctions Could Prolong Russian Recession

Delayed Effects Of Sanctions Could Prolong Russian Recession

Apr 02, 2015 at 17:24 | Andy Tully

Strong Western sanctions and the steep drop in oil prices have formed a one-two punch that will leave the Russian economy in worse shape than economists…

BP Shifts Blame For Deepwater To U.S. Subsidiary

BP Shifts Blame For Deepwater To U.S. Subsidiary

Apr 01, 2015 at 17:43 | Andy Tully

BP faces fines of up to $13.7 billion for the 2010 Deepwater Horizon disaster in the Gulf of Mexico, but argues that it can’t afford to…

Cold Weather And Low Oil Prices Conspire Against Canadian Economy

Cold Weather And Low Oil Prices Conspire Against Canadian Economy

Apr 01, 2015 at 17:34 | Andy Tully

To no one’s surprise, Canada’s economy shrank in January due to declines in both wholesale and retail sales, both affected by sluggish construction and manufacturing attributable in part to the…

Scotland Pulling Out All The Stops To Save North Sea Oil & Gas

Scotland Pulling Out All The Stops To Save North Sea Oil & Gas

Mar 31, 2015 at 15:48 | Andy Tully

Scotland’s energy minister, Fergus Ewing, acknowledges there are “serious challenges” facing the North Sea oil industry, but also “huge opportunities,” and he’s taking that message on…

Texas Towns Under Pressure From Low Oil Prices

Texas Towns Under Pressure From Low Oil Prices

Mar 30, 2015 at 18:00 | Andy Tully

The low price of crude is finally taking its toll on one oil town in West Texas while another, just over 100 miles away, is faring…

Tax Cuts Insufficient To Halt North Sea Job Losses

Tax Cuts Insufficient To Halt North Sea Job Losses

Mar 27, 2015 at 17:33 | Andy Tully

The British government’s offer of “bold and immediate measures” for the North Sea energy industry evidently wasn’t enough for some companies groping for ways to cut…

Another Major Getting Out Of The Oil Sands Business

Another Major Getting Out Of The Oil Sands Business

Mar 27, 2015 at 17:25 | MINING.com

Dover West Leduc. (Image courtesy of Athabasca Oil) PetroChina (NYSE:PTR), the Asian country’s largest oil major by…

Duke Energy To Contend $25.1 Million Fine For Soiling Water Resources

Duke Energy To Contend $25.1 Million Fine For Soiling Water Resources

Mar 26, 2015 at 17:39 | Andy Tully

Duke Energy Corp. will appeal a record $25.1 million fine imposed by the state of North Carolina for contaminating groundwater near one of its plants; a…

Can China Promise Blue Skies For 2022 Winter Olympics?

Can China Promise Blue Skies For 2022 Winter Olympics?

Mar 26, 2015 at 17:33 | Andy Tully

With the 2022 Winter Olympics looming, there are only two significant impediments to China’s efforts to host the Games in Beijing: Almaty, Kazakhstan, and the notorious…

Airlines Keep Fuel Savings For Themselves

Airlines Keep Fuel Savings For Themselves

Mar 25, 2015 at 18:19 | Andy Tully

On Dec. 14, Oilprice.com looked at how the drop in the price of crude was affecting air fares. While motorists were enjoying low pump prices,…

The Hunt For Fukushima’s Missing Reactor Fuel

The Hunt For Fukushima’s Missing Reactor Fuel

Mar 25, 2015 at 18:14 | ZeroHedge

In the same week as Japan unveils its Pacific-Rim-esque anti-tsunami wall public works project, and Japanese government auditors say the operator of the Fukushima Dai-ichi…

Saudis Up The Pressure On Oil Markets

Saudis Up The Pressure On Oil Markets

Mar 24, 2015 at 17:48 | Andy Tully

This week started badly for oil prices, and the chief culprit seems to be Saudi Arabia and its drive to produce more and more oil. Brent…

Whiting Forced To Issue Massive Secondary

Whiting Forced To Issue Massive Secondary

Mar 24, 2015 at 17:42 | ZeroHedge

Having been exuberantly chased briefly after announcing it was looking for a buyer - fueling further excitement about a low-oil-price-driven Shale firm M&A boom - Whiting…

Oil Prices Could Crash Hard This Summer

Oil Prices Could Crash Hard This Summer

Mar 23, 2015 at 18:13 | ZeroHedge

Less than two weeks ago we warned that based on the current oil production trend, the US may run out of storage for crude as soon…

January Data From Texas May Show Production Decline Underway

January Data From Texas May Show Production Decline Underway

Mar 23, 2015 at 17:37 | Ron Patterson

The Texas Rail Road Commission has released its latest stats with production numbers through January. There is always a delay in these numbers and that…

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