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News

Statoil Teams Up With Tullow Oil In Uruguay Basin

Statoil Teams Up With Tullow Oil In Uruguay Basin

Feb 15, 2016 at 13:27 | James Burgess

Norway’s Statoil said today that it has signed an agreement with Tullow Oil to secure a 35 percent working interest in a Uruguay’s Pelotas basin exploration block…

Saudi Stocks Sink To Near Five Year Lows Over War Worries

Saudi Stocks Sink To Near Five Year Lows Over War Worries

Feb 15, 2016 at 11:56 | ZeroHedge

Oil's late week surge provided much buying excitement as Mid-East equity markets opened with flashing green numbers across every screen. However, by the close, it was…

Oklahoma Earthquake Gives More Impetus To Fracking Fears

Oklahoma Earthquake Gives More Impetus To Fracking Fears

Feb 15, 2016 at 11:20 | James Burgess

Oklahoma was struck by a magnitude 5.1 earthquake on Saturday, the third-strongest quake ever recorded in the state, which has experienced a surge in seismic activity in recent years, feeding…

Nigeria Arrests Mastermind Of Agip Oil Pipeline Bombing

Nigeria Arrests Mastermind Of Agip Oil Pipeline Bombing

Feb 15, 2016 at 09:56 | Charles Kennedy

The Nigerian military has apprehended the mastermind of the Agip oil pipeline bombings that lost Italian Eni thousands of barrels of oil that have spilled into waterways and fishing grounds.…

Libya Intercepts Smuggling Tanker Heading To Malta

Libya Intercepts Smuggling Tanker Heading To Malta

Feb 15, 2016 at 09:43 | James Burgess

The Libyan Coast Guard has intercepted an oil tanker flying the flag of Sierra Leone in Libyan waters, heading to Malta and suspected of carrying illicit cargoes of Libyan…

Oil Prices Up As Rumors On OPEC Cut Persist

Oil Prices Up As Rumors On OPEC Cut Persist

Feb 15, 2016 at 09:34 | Charles Kennedy

Crude oil prices gained on Monday morning as optimism prevailed that production cuts would come in response to the oversupplied market. UAE Energy Minister Suhail bin Mohammed al-Mazrouei said…

Can Conventional E&P Bring The Next Generation Of Oil Fortunes

Can Conventional E&P Bring The Next Generation Of Oil Fortunes

Feb 12, 2016 at 17:23 | Allen Gilmer

Age demographics do not care about the price of oil. Whether oil is at $100/barrel or at $30/barrel, babies get born, people age and pass away,…

Will Gold Be The World’s Best Currency, Again?

Will Gold Be The World’s Best Currency, Again?

Feb 12, 2016 at 17:01 | Henry Hewitt

After Peak Debt Comes Deflation Paper money, ‘the Heaven-sent leaf’, is nothing new, but it has not always been held in high regard nor previously attained its unquestioned position as…

Oil Plunges to New Lows, But Rallies on OPEC Rumors

Oil Plunges to New Lows, But Rallies on OPEC Rumors

Feb 11, 2016 at 16:16 | Charles Kennedy

Oil prices sank to 13-year lows on Thursday as bearish forces took over. The comments from the head of the Federal Reserve on Wednesday reflected waning confidence in the health…

Growing Confidence That Oil Will Rebound

Growing Confidence That Oil Will Rebound

Feb 11, 2016 at 15:42 | Rakesh Upadhyay

With the world’s largest energy trader predicting $45-$50 oil by year’s end, Goldman Sachs and UBS jumping on the bandwagon, and CitiGroup calling oil “the trade…

Armenia-Iran Deal May Threaten Russia’s Natural Gas Market

Armenia-Iran Deal May Threaten Russia’s Natural Gas Market

Feb 11, 2016 at 15:41 | Eurasianet

Economic hopes are rising in Armenia that the country can serve as a trade conduit for Iran now that international sanctions against Tehran are being lifted.…

"Bloodbath" In Black Gold - Buffett's Phillips 66 Dumps Oil In Cushing, Crashes

Feb 11, 2016 at 11:38 | ZeroHedge

The canary in the coalmine of an increasingly desperate energy industry just croaked. With "unusual timing" and at "distressed prices," Reuters reports that Phillips 66…

Anti-Russian Sentiment Pushes Lukoil Out Of Baltics

Anti-Russian Sentiment Pushes Lukoil Out Of Baltics

Feb 10, 2016 at 14:01 | Julianne Geiger

Citing anti-Russian sentiment in Eastern Europe, Russian Lukoil is selling some 240 gas stations in Lithuania, Latvia and Poland, as it seeks to optimize its…

BP Claims That Oil Storage Limit Is Far Nearer Than We Realize

BP Claims That Oil Storage Limit Is Far Nearer Than We Realize

Feb 10, 2016 at 13:52 | ZeroHedge

It was just last week when we said that Cushing may be about to overflow in the face of an acute crude oil supply glut.…

Insurance Concerns Could Throw Wrench In Iranian Oil Exports

Insurance Concerns Could Throw Wrench In Iranian Oil Exports

Feb 09, 2016 at 16:29 | Julianne Geiger

Of all the things that could throttle Iranian oil exports--from geopolitics and high-level diplomatic game-playing to bloody conflict--at the end of the day, it’s seemingly innocuous…

Another 6,000 Jobs Eliminated In Oilfield Services Sector

Another 6,000 Jobs Eliminated In Oilfield Services Sector

Feb 08, 2016 at 15:32 | Julianne Geiger

Reeling from a loss of $1.2 billion in profits and half of its revenue for the fourth quarter of 2015, oilfield services company Weatherford International is…

The Coal Decline Is Now Irreversible

The Coal Decline Is Now Irreversible

Feb 08, 2016 at 15:23 | Metal Miner

There was a lot of talk last year about coal resources needing to be left in the ground if the world was to reach its…

Chesapeake’s Stock Plunges on Bankruptcy Fears

Chesapeake’s Stock Plunges on Bankruptcy Fears

Feb 08, 2016 at 13:20 | Charles Kennedy

Chesapeake Energy, the second largest natural gas producer in the United States, came under severe pressure on Monday after rumors surfaced that the company was near bankruptcy. Over the weekend,…

What Can We Expect From A Saudi Aramco IPO?

What Can We Expect From A Saudi Aramco IPO?

Feb 05, 2016 at 16:53 | Allen Gilmer

Muhammad bin Salman, the Kingdom of Saudi Arabia’s (KSA) Deputy Crown Prince, has publicly stated his personal support for selling shares to the public in…

Six OPEC Members, Plus Russia, Now Open to Emergency Meeting

Six OPEC Members, Plus Russia, Now Open to Emergency Meeting

Feb 04, 2016 at 15:48 | Charles Kennedy

Oil prices have whipsawed back and forth over the past two weeks, largely due to the rise and fall of expectations that OPEC might call an…

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