11/04/2014
By Bloomberg Libya, the OPEC nation producing at about 10 percent of capacity, is set to raise oil shipments next week as the first of four ports seized by rebels reopens. State-run National Oil Corp. lifted force majeure on the Hariga terminal yes..
11/04/2014
By International Business Times | By Jacey Fortin - GAMBELA, Ethiopia -- Rebel fighters in South Sudan have set their sights on a new target: oil. Their tactics are putting the interests of the world's second-largest economy at risk. F..
11/04/2014
By Reuters Europe is stitching together a patchwork of measures that could reduce its natural gas imports from Russia by over a quarter by the end of the decade as a result of the Ukraine crisis, halting Moscow's tightening grip over the region's e..
11/04/2014
By Platts U.S. gasoline stocks fell 5.19 million barrels to 210.44 million barrels during the reporting week ended April 4, Energy Information Administration (EIA) data showed Wednesday, outpacing analysts' expectations. Analysts surveyed Monday ha..
11/04/2014
By: EW News Desk Team Russia and China are “very close” to agreeing on a multi-billion dollar natural gas contract, which will see state-owned energy company Gazprom supply Beijing with as much as 38 billion cubic metre..
11/04/2014
Russia has rejected U.S. warnings against signing an oil-for-goods contract with Iran. Deputy Foreign Minister Sergei Ryabkov said Moscow wouldn't be intimidated by threats. Quoted by the state RIA Novosti news agency on April 9, Ryabkov said that..
10/04/2014
Reuters ANKARA: Iraqi Oil Minister Abdul Kareem Luaibi said he expected a deal to be reached within days to resolve an oil export dispute between the central government in Baghdad and Iraqi Kurdistan. The Kurds have sent more than 1 million barrels..
10/04/2014
By The Motley Fool U.S. crude oil supplies expanded 4.0 million barrels (1.1%) for the week ending April 4, according to an Energy Information Administration report (link opens a PDF) released today. After falling 2.4 million barrels the prev..
10/04/2014
By Bloomberg Armed militias have blocked exports from several oil terminals in Libya, once North Africa’s biggest producer, since July. The structure of Brent crude futures, used to price at least half the world’s supplies, is also in th..
10/04/2014
By Bloomberg OPEC, which supplies 40 percent of the world’s oil, will accommodate additional output from members Iraq, Iran and Libya, Secretary-General Abdalla El-Badri said, without explaining how it will do so under the group’s ceilin..
10/04/2014
By Bloomberg Houston and the rest of the U.S. Gulf Coast have more crude oil than the region can handle. Stockpiles in the region centered on Houston and stretching to New Mexico in the west and Alabama in the east rose to 202 million barrels in th..
10/04/2014
* Gov guards not in full control of eastern port after deal * Rebels seek former jobs protecting oil facilities * Force majeure at two eastern ports not lifted * AGOCO workers join general strike in Benghazi (Recasts lead, adds quotes, detail) By..
10/04/2014
By OGJ Statoil ASA reported a slight decrease in its oil sands production in 2013 because of a planned multiweek plant shutdown for facility maintenance and the integration of new scientific research and experimental development measures, acco..
10/04/2014
WASHINGTON, D.C. -- Federal energy forecasters don't foresee high summer gasoline prices this year -- providing there are no unexpected glitches in oil supplies. The U.S. Energy Information Administration's annual summer fuels outlook pegs the natio..
10/04/2014
By FNA TEHRAN (FNA)- Iranian Oil Minister Bijan Namdar Zanganeh downplayed effectiveness of the Western sanctions on the country's energy sector, saying that his ministry experts have paved the way for a remarkable hike in oil exports during the c..
09/04/2014
TEHRAN (FNA)- The Iran Oil Terminal Company is ready to help the government with supplying growing demand for the country's crude oil, IOTC Chief Executive Pirouz Mousavi said. "IOTC's terminals are ready to help the country with export of six milli..
09/04/2014
Saudi Arabia produced 9.566 million barrels per day (bpd) of crude oil in March, down from 9.849 million bpd in February, an industry source familiar with the matter said on Tuesday (April 8). The world's largest oil exporter and Opec heavywei..
09/04/2014
By Igor Alexeev via OilPrice.com After a series of headline-grabbing statements about the possibility of “switching” European consumers over to American gas, the US media hastened to announce the launch of Obama’s oil and gas offen..
09/04/2014
Royal Dutch Shell hit commercial production targets in its Majnoon field in Iraq, allowing it to begin exports. Shell owns a 45% stake in the field and leads a consortium that includes South Oil Co., Petronas, and Missan Oil Co. The field is producin..
09/04/2014
The EIA projects that U.S. oil imports will shrink to essentially zero by 2037 due to prolific production of crude oil. By 2020, the EIA estimates that U.S. oil production could reach 9.6 million barrels per day, the highest rate of production since ..
09/04/2014
By International Business Kazakhstan is considering new options for its oil exports, including partnering with Iran, as its concerns about Western sanctions against its northern neighbor Russia grow. Uzaqbai Qarabalin, the minister of oil and gas,..
09/04/2014
By International Business Times Iran plans to boost its crude production and exports this year despite agreeing to U.S.-led sanctions against the country's energy sector. "Iran will use every possibility to increase the amount of oil exports and ..
09/04/2014
By Bloomberg Brazilian Vice President Michel Temer said he sees no room for a fuel price increase before elections in October and that inflation surpassing 6.5 percent would be a “disaster.” “I don’t think so. I can’t ..
09/04/2014
By Bloomberg Photographer: Dean Hutton/Bloomberg The Public Investment Corp. plans to lead investment in energy projects in Africa by buying into South African shale gas projects and helping to fund what could be the world’s biggest power g..
09/04/2014
By Bloomberg Libyan rebels seeking self-rule for the east of the country are standing by a demand that they get a share of crude export revenue before they hand over Es Sider and Ras Lanuf, the two oil ports still under their control, according to a..
09/04/2014
By Bloomberg The U.S. increased its price forecast for West Texas Intermediate crude for 2014 and reduced the estimate for Brent. WTI will average $95.60 a barrel this year, the Energy Information Administration said in its monthly Short-Term Energ..
09/04/2014
By Bloomberg Photographer: Shadi Alnsoor/Anadolu Agency via Getty Images Diplomats searching for a long-term accord over Iran’s nuclear program, including the future of a reactor that could produce weapons material, began two days of schedu..
09/04/2014
By Bloomberg Crude prices are stable and the market has enough supply to meet demand, even amid geopolitical unrest in Europe and the Middle East, OPEC Secretary-General Abdalla El-Badri said today. The OPEC basket, a weighted average of the main e..
08/04/2014
By Bloomberg Photographer: Matthew Staver/Bloomberg Employees fill a tank car with oil at the Musket Corp. Windsor Crude Terminal in... Read More Net oil imports to the U.S. could fall to zero by 2037 because of robust production in areas includ..
08/04/2014
By Bloomberg Libyan rebels surrendered control of two oil ports to the government, potentially enabling the OPEC member to triple crude exports this month with an increase of at least 180,000 barrels a day. Brent futures dropped. The self-declared ..
08/04/2014
By Bloomberg Photographer: Andrey Rudakov/Bloomberg Fewer than three weeks into spring, oil speculators are already thinking about the summer. Hedge funds and other money managers boosted bullish wagers the most since February, betting that refi..
08/04/2014
AKITA. KAZINFORM Japan Petroleum Exploration Co. said Monday it started commercial production of oil extracted from underground shale formations from April 1, becoming the first to do so in Japan. The Japanese developer of oil and gas reserves known..
08/04/2014
Ahram Online File Photo: Fuel ship (Photo: Reuters) Kuwait is in talks to renew some of its contracts to supply oil to Egypt and has been looking for potential investments in the energy sector there, the Gulf state's oil minister said on Mo..
08/04/2014
Gulf Daily news KUWAIT CITY: Kuwait has increased its oil production capacity to 3.3 million barrels of oil a day (bpd) and is hoping to reach 3.5m bpd in 2015, the head of its state oil company said yesterday. Kuwaiti officials have previously sai..
08/04/2014
TEHRAN (FNA)- National Iranian Oil Company (NIOC) Chief Roknoddin Javadi announced that Tehran is engaged in serious negotiations with Moscow to launch a South-North reverse oil swap project. "At present, we are engaged in negotiations with th..
07/04/2014
New EIA data shows that U.S. oil imports continued to decline in 2013 as domestic production increased. The U.S. is now importing less oil than at any time since the 1996. Net crude oil imports declined by 10.2% between 2012 and 2013, down to 7.6 mil..
07/04/2014
The cost of polluting is poised to rebound after the European Union began reducing a record glut of permits to rescue the world’s biggest greenhouse-gas market. Carbon prices will climb 37 percent by the end of June, according to the m..
07/04/2014
The prospects for a recovery in Libyan oil exports moved closer after rebels blocking shipments from the country’s east said they agreed in principle with the government to allow a resumption. The rebels’ Executive Office for Barqa, repr..
07/04/2014
A tanker is docked at the Flint Hills refinery in Corpus Christi, Texas, on Oct. 4, 2012. When Big Oil began preparing last year to challenge the decades-old rules against exporting U.S. crude, the debate seemed fanciful. Then Russia took over Crime..
06/04/2014
By Economy Watch Russia’s state-owned gas producer Gazprom on Thursday announced another price hike for its sales to Ukraine, the second increase in this week alone, reported Reuters. The latest increase means that Ukraine will now have to pa..
04/04/2014
Saudi Arabia, Iraq, the UAE and Kuwait have helped to offset supply shock rise by increasing Opec production levels, now above 30 million barrels a daySaudi Arabia, Iraq, the UAE and Kuwait have helped to offset supply shock rise by..
04/04/2014
By Bloomberg U.S. consumers are paying the most in six months for gasoline because of declining supplies and rising costs for the ethanol added to the fuel. Prices probably will keep climbing, the largest U.S. motoring group said. Gasoline, averagi..
04/04/2014
Russia and Iran are moving closer to a $20 billion oil-for-goods deal launched earlier this year, according to a Reuters report citing unnamed sources close to the deal. Russia has finished preparation of all documents related to the deal on..
04/04/2014
US overall crude oil production has reached more than 10% of the world’s total production, up from 9% in the fourth quarter of 2012, according to a new report by the Energy Information Administration (EIA). As of the fourth quarter of ..
04/04/2014
By Associated Press WILLISTON, N.D. — Oil production in North Dakota and Montana’s Bakken and Three Forks formations will average 1.1 million barrels per day this year, according to estimates announced Wednesday by a research firm. Wood..
03/04/2014
By Bloomberg Petroleos Mexicanos’ March oil production slid to its lowest monthly level in almost two decades after output declines accelerated at the world’s fifth-largest crude oil producer. Monthly crude production fell to 2...
03/04/2014
By Bloomberg Rebels seeking self-rule for eastern Libya are preparing to hold talks today with the government about reopening oil ports under their control, a spokesman said. “An Executive Office delegation is planned to meet a government del..
03/04/2014
By Bloomberg Ethanol surged to the highest price in more than seven years as producers struggle to get the biofuel to consumers while demand for it climbs. Futures rose 1.7 percent a day after BNSF Railway said a winter storm in the Midwest would f..
03/04/2014
Pittsburgh Post-Gazette The U.S. imported far less energy in 2013 than it had 20 years ago as production of natural gas and oil from shale plays increased, according to a federal Energy Information Administration report released today. To..
03/04/2014
Reuters LONDON/ANKARA: Iran and Russia have made progress toward an oil-for-goods deal sources said would be worth up to $20 billion, which would enable Tehran to boost vital energy exports in defiance of Western sanctions, people familiar with the ..
03/04/2014
By Platts New York - April 2, 2014 U.S. commercial crude oil stocks fell a surprising 2.38 million barrels to 380.09 million barrels during the reporting week ended March 28, U.S. Energy Information Administration (EIA) data showed Wednesday. Anal..
03/04/2014
Five oil-exporting countries in the Middle East and North Africa are on track to run fiscal deficits this year, even as oil prices remain close to US$100 per barrel. Iran, Iraq, Libya and Algeria are all estimated to have break-even oil prices in ex..
02/04/2014
One of Iraq’s largest oil fields – as well as one of the world’s largest untapped fields – began commercial production on March 29. Russia’s Lukoil operates the West Qurna-2 oil field, and will ramp up production from an..
02/04/2014
Since the dissolution of the Soviet Union, slowly but surely NATO added members in Eastern Europe. Likewise, the European Union opened up its doors to its eastern neighbors formerly in Moscow’s orbit. Russia saw this as a threat, and upon the d..
02/04/2014
Russia’s Lukoil and France's Total SA have reportedly signed a memorandum to develop the Bazhenov shale oil fields in western Siberia, according to Russian news agencies. The announcement comes after Royal Dutch Shell and Russia’s..
02/04/2014
There is only one certainty in Ukraine: The energy sector must and will be transformed, and how long this takes will depend on who ends up in the driver’s seat and how serious they are about becoming a part of Europe and reducing dependence on ..
02/04/2014
Of all the preposterous, irresponsible headlines that have appeared on the front page of the New York Times in recent years, few have exceeded the inanity of this one from early March: “U.S. Hopes Boom in Natural Gas Can Curb Putin.” ..
02/04/2014
Daily Independent The discovery of a similar blend of oil in Angola is a wake-up call to the federal government to start looking into other ways of exploiting alternative resources of Nigeria for the benefit of the citizens. The recent ..
02/04/2014
By Josun Ilbo The Korea National Oil Corporation has secured about 39 million barrels of oil in Iraq, enough to supply Korea’s total oil consumption needs for 18 to 20 days. The KNOC confirmed on Tuesday that it has detected an oil reserve eq..
02/04/2014
Reuters * Supply falls by 340,000 bpd, led by Iraq, Angola, Libya * Saudi Arabia pumps more, Iranian exports hold strong * OPEC output falls back below 30 million bpd target By Alex Lawler OPEC's oil output fell in March to its lowest since Dece..