Daily Energy News From OilSlick.com

U.S. Shale Gas Has Global Impact
The biggest innovation in energy so far this century has been the development of shale gas and the associated resource known as tight oil. Continue reading
IEA Forecasts Sustained Energy Growth
The IEA's latest long-term forecasts highlights the growth of unconventional oil and gas, especially in North America, but does not see this leading to much lower oil prices. Continue reading
China Seeks New Contract With Iran
China may buy more Iranian oil next year as a state trader is negotiating a new light crude contract that could raise imports from Tehran to levels not seen since tough Western sanctions were imposed in 2012. Continue reading
Is South Sudan's Oil Heartland Safe
South Sudan's army says it's confident it can protect the "heart" of the country's oil production area from rebel attacks. Continue reading
Cyprus On Verge Of Significant Production
John Roberts characterized Cyprus as a country "on the verge of significant energy production," at the 2nd Annual Frankfurt Gas Forum. Continue reading
China Gas Imports Rise
China's gas pipeline imports rose more than 8% on the year. Continue reading
Drilling For Atlantic Oil
Southern political leaders and the oil industry want to find out if there is enough oil and natural gas off the Atlantic coast to justify drilling. Continue reading
Fracking Chemicals Found In CO River
Chemicals linked to fracking have been found in the Colorado River. Continue reading
Algerian Output To Rise
Algeria's oil and gas production is expected to increase in the coming five years according to state oil and gas company Sonatrach. Continue reading
Libyan Production Rises
Libya Says Oil Production Reaches 250,000 Bopd. Continue reading
U.S. Should Tap Oil Goldmine
The combined power of state-level regulatory regimes, technologies like deepwater drilling and hydraulic fracturing, and private-land ownership the United States has become one of the world's leading oil and natural gas producers. Continue reading
Geologist Says Peak Is Here
A former British Petroleum geologist has warned that the age of cheap oil is long gone, bringing with it the danger of "continuous recession". Continue reading
Can Light Tight Oil Save The World
There has been plenty of hoopla lately concerning the boom in shale (LTO) oil production. Continue reading
South Sudan Threatens Global Supply
Rebels advance on South Sudan's oil fields. Continue reading
OPEC Says No Glut In 2014
Ministers from OPEC's biggest members reject the possibility of a glut in crude supply next year despite increased U.S. output and efforts by Iran and Libya to do the same. Continue reading
Canada Approves Northern Gateway
Canada approves Northern Gateway Pipeline with over 200 conditions. Continue reading
New Deal Opens Off Shore Waters
Eric Milito, a director at the American Petroleum Institute, said the nod for an energy agreement with Mexico transforms the regional offshore energy sector. Continue reading
Fracking Quakes Raise Concerns
House democrats are seeking a series of hearings on recent earth quakes attributed to the fracking boom. Continue reading
Uncertain Future For PA Gas
The energy industry and policy makers in Pennsylvania are thinking about their next moves after the state's highest court threw out significant portions of a law that limited the power of cities and counties to regulate the industry. Continue reading
Saudis To Expand Offshore Field
Saudis to expand field jointly owned with Kuwait without their help. Continue reading
Libyan Ports To Reopen At End Of Q1
Libyan oil ports, closed by rebel uprising, could reopen by the end of the 1st quarter. Continue reading
British Shale "Road Map"
British energy minister publishes shale 'roadmap'. Continue reading
Canada To Review Trans Mountain Pipeline
Kinder Morgan announced plans to expand its Trans Mountain Pipeline. Continue reading
Senate Democrats Delay Arctic Lease Sales
Six Senate Democrats Ask DOI to Delay New Lease Sales in Arctic Waters. Continue reading
Significant Gulf Discovery
BP says it has made a "significant" discovery in the deep water region of the Gulf Of Mexico. Continue reading
Marathon To Develop U.S. Shale
Marathon Oil President and Chief Executive Officer Lee Tillman said a $3.5 billion investment in U.S. shale resources will encourage growth in 2014. Continue reading
Australian LNG Costs Skyrocket
Chevron reveals that the cost of its Australian LNG project has skyrocketed. Continue reading
Nigeria Loses $50 Billion
Nigerian oil under threat from massive corruption threatening to halt production. Continue reading
Mexico Passes Oil Reform
Mexico's Congress approved a bill to end the state oil monopoly and generate $20 billion in additional foreign investment each year. Continue reading
Saudi's Unwilling To Cut Production
According to people familiar with the matter, Saudi Arabia won't unilaterally cut oil production as OPEC members discuss how to cope with a possible increase in global output. Continue reading
BHP Says US Shale Will Be Profitable
BHP Billiton said on Tuesday its U.S. shale business would break even from 2016, generating cash that would grow to almost $3 billion a year by the end of the decade. Continue reading
Libyan Ports To Open Soon
Ports in eastern Libya that helped boost international oil prices when they were halted four months ago are within days of reopening. Continue reading
OPEC Production At Two Year Low
OPEC reduced crude production in November to the lowest level in more than two years as output dropped below the organization?s 30 million barrel-a-day ceiling for a third month. Continue reading
U.S. Production Surprises OPEC
The Organization of Petroleum Exporting Countries said oil supply growth from non-member states, mainly from North America, was greater than expected. Continue reading
Global Demand Outlook Raised
The International Energy Agency issued an upbeat outlook for the United States and Europe, saying economic recovery in the advanced economies is expected to lift global oil demand. Continue reading
Shell Scraps Louisiana Project
Royal Dutch Shell scrapping plans to build a gas-to-liquids project in Louisiana. Continue reading
Texas Crude Production Hits Record
Texas produced oil at a record rate in September, according to data by the Energy Information Administration. Continue reading
Chevron's $6.4B China project delayed
A $6.4 billion gas project being built by Chevron in China is facing further delays due to disagreements with partner PetroChina over how to develop the technically tricky fields, three industry sources said. Continue reading
Two Noble Discoveries
Noble Energy has made two discoveries, one in the Gulf of Mexico the other off the coast of Israel. Continue reading
Kashagan Pipeline To Remain Closed
The cause of leaks leading to the closure of the Kashagan pipeline have been found. Continue reading
The Real Cost Of Shale Gas
The debate is heating up, is the U.S. in an oil bubble or is it on the road to energy independence? Continue reading
Energy Companies Assess Canadian Shale
Sweet spots in Canada's Duvernay Shale are being explored. Continue reading
Japan Finds Methane Hydrate
Japan has discovered methane hydrate lying over a large area in the Sea of Japan> Continue reading
Iran And Iraq Production Increases Ahead
Iran and Iraq put OPEC on notice of substantial oil output increases to come, saying others in the cartel will need to make room. Continue reading
OPEC To Maintain Current Output
OPEC will probably stick with its current production target as demand for crude next year will be at a similar level. Continue reading
Iran Expects Increased Demand
Iran expects to see more demand for its crude oil now that it has reached a nuclear deal with its Western negotiating partners. Continue reading
U.S. Shale Plays For 2014
DrillingInfo CEO Allen Gilmer told Rigzone he sees potential for exploration and production activity in 2014 for emerging U.S. shale plays. Continue reading
Chine Eye's Canadian Gas
The Chinese oil and gas company Sinopec is in talks to buy a stake in a $15 billion natural gas export project in British Columbia. Continue reading
Exxon Sells Qrna 1 Stake
ExxonMobil has reduced its stake in the 9.1 billion barrel West Qurna 1 field from 60 percent to 25 percent but will still be the sites operator. Continue reading
OPEC Exports To Increase
Tanker tracker Oil Movements says refinery demand will be met by a rise in export from OPEC. Continue reading
Marcellus Giant Transforms Region
Output from shale deposits including the Marcellus has surged 10-fold since 2005 to account for a third of the country?s gas production. Continue reading
Somaliland Exploration Widens
Somaliland expects to sign an agreement with a fourth international energy company this week to begin exploring for oil in the semi-autonomous region. Continue reading
Shale Gas Could Boost EU Jobs
Shale gas production could add over 3.5 trillion to the EU economy. Continue reading
Marcellus Shale Update
Marcellus shale production declines off set by new drilling. Continue reading
Syrian Refinery Attacked
Syrian refineries and oil fields continue to face war induced shut downs. Continue reading
Shale Gas In Poland
Shale gas, the energy source which has shaken up world oil markets, could soon be flowing in Poland after changes in government policy. Continue reading
Strong Year For Oil Sands Production
Suncor Energy Chief Executive Officer Steve Williams said his company is set for a strong year in 2014 in terms of oil sands production. Continue reading
NEB Forecasts 75% Rise In Out Put
Canadian oil production will rise by nearly 75 percent to 5.8 million barrels per day by 2035, the country's National Energy Board (NEB) said in a report. Continue reading
Tullow Makes New Kenyan Discovery
British energy explorer Tullow Oil said Friday an oil discovery in the Agete-1 exploration well in Kenya marks its fifth straight oil find in the region. Continue reading
Saudi's Launch Major Red Sea Operation
Saudi Arabia is fast-tracking its first major offshore natural gas fields in the Red Sea, a high-priority project that's seen as the start of a massive new energy program. Continue reading
Bad News For The Bakken
Declining production rates point to a bust for the Bakken Shale. Continue reading
Resurgence Of Gulf Drilling
Oil exploration in the Gulf gaining momentum, again. Continue reading
Saudi's Won't Make Sharp Production Cuts
Al Rajhi Capital said Saudi Arabia is not expected to make ?sharp? cuts to its crude production in November and December. Continue reading
Iran Needs More Pipeline
Iran needs more than 3,700 miles of pipeline installed to respond to domestic needs in the natural gas sector. Continue reading
Ethanol Rises As Consumption Outpaces Demand
Ethanol prices are rising as production fails to meet consumption demand and oil supply. Continue reading
Bakken Production To Top 1 Million
The U.S. Energy Information Administration estimates that total Bakken crude oil well output will pass the 1 million barrel of oil per day mark in December. Continue reading
U.S. proposes biofuel mandate cut
The Obama administration proposed slashing federal requirements for U.S. biofuel use in 2014, bowing to pressure from the petroleum industry and attempting to prevent a potential fuel crunch next year. Continue reading
Petrobras Sells Peru Unit
Petrobras sells Peru unit to PetroChina/CNPC for $2.6 billion. Continue reading
New Algeria Oilfield 'Biggest in Decades'
Last month Algeria uncovered the largest new oil field in the country in more than 20 years. Continue reading
Iraqi Crude Production Falls
Maintenance and the national security situation in Iraq are having an impact on the level of oil production. Continue reading
North Dakota's Salty Wells Drink More To Keep Oil Flowing
The wells being drilled into the prairie to tap into the Bakken shale need "maintenance water,lots of it" to keep the oil flowing. Continue reading
Libyan PM Urges People To Liberate Oil
Libyan Prime Minister Ali Zeidan called on the people to work to "liberate" oil and natural gas facilities crippled by strikes and insurgency. Continue reading
Abu Dhabi oil backed by $52 Billion
Executives of the UAE's Abu Dhabi National Oil Company have disclosed about $52 billion of investment commitments intended to achieve oil production capacity to 3.5 million b/d by 2017. Continue reading
Iran Says China Too Slow
Iran says Chinese oil companies are too slow in developing oil fields in southern Iran. Continue reading
Iran Grants Wider Access To Inspectors
Iran and United Nations atomic inspectors signed their first accord in six years, giving the monitors broader access to nuclear facilities. Continue reading
U.S. Rig Count Jumps
The US drilling rig count gained 12 units to reach 1,754 rigs working during the week ended Nov. 8. Continue reading
U.S. Coal Reserves Incorrectly Calculated
Peak coal report states that 200 year reserve supply is incorrect and could run out in as few as 20 years. Continue reading
Kashagan Oil Field Delays
Oil production at the giant Kashagan field in Kazakhstan, halted since mid-October because of a dangerous gas leak, won't resume before next year, Continue reading
Asian Hydrocarbon Demand On The Rise
OPEC published its 283-page World Oil Outlook Thursday, it says that Asian demand will make a significant portion of global demand increases in the near future. Continue reading
New Cyprus LNG Plant
The Cyprus government has begun to form plans for exploration and a new LNG plant. Continue reading
Eni buys into the shale boom
Italian energy company Eni said it signed a deal to explore the oil potential in west Texas shale reserves. Continue reading
Oil Industry May Challenge Export Ban
The oil industry may make moves to challenge the ban on exports. Continue reading
Could The Fracking Boom End
Surging oil and gas production is nudging the nation closer to energy independence but new research suggests that the boom could end long before the U.S. reaches this goal. Continue reading
strikes halt Libyan oil production
Labor strikes cause further shut downs of Libyan oil production. Continue reading
Iran export capacity falls
The combined carrying capacity of oil tankers leaving Iranian ports last month dropped 22 percent from September. Continue reading
Chevron Sells Oilfields
Chevron Corp. plans to sell some oil and natural-gas assets as newly-acquired exploration prospects in places such as Iraq, Canada and Australia take precedence. Continue reading
Egypt Awards 9 Contracts
Egypt signed nine crude oil and natural-gas exploration agreements with companies including Royal Dutch Shell. Continue reading
Sudan Refineries Coming On Line
South Sudan's New Refineries to Bring Fuel Independence Closer. Continue reading
Teck Moves Forward With Oil Sands Project
Teck Announces Partners Proceeding with Fort Hills Oil Sands Project. Continue reading
Shale Oil Bubble
Optimists agree that we have just scratched the surface of our shale oil reserves. Continue reading
China Aims To Lower Costs
China aims to cut costs associated with shale natural gas production. Continue reading
Locals Storm Tullow Oil Fields
Tullow Oil has been forced to suspend operations at its two blocks in Turkana after locals stormed the facilities Continue reading
World Energy Congress Dismisses Peak Oil
World Energy Council made it clear that fears expressed in respect of so-called 'peak oil' were unlikely to be realized within the next forty years. Continue reading
Lebanon Reserves Larger Than Estimated
Lebanese officials indicate that reserves of oil and gas in the country may be larger than originally thought. Continue reading
Iraq To Boost Output
Increased demand will lead to an increase in Iragi oil production Continue reading
Permian Threatened By $70 Crude
Lower oil prices could curb Permian production as drillers look to take over weaker rivals. Continue reading
U.S. And Canada Only Commercial Gas Producers
The Energy Administration says that the U.S. and Canada are the only commercial producers of natural gas. Continue reading
Falklands prospecting firms near merger
Two of the companies drilling in the Falkland Islands' South Atlantic waters are merging and further corporate match up may be close behind. Continue reading
Kashagan Oil Field Weeks From Opening
Kashagan won't start commercial production as planned. Continue reading
LIbyan Situation Very Worrying
Eni CEO says Libyan situation very worrying,impossible to say when Wafa will restart. Continue reading
Shale Gas Spurs U.S.-China Trade
U.S. exports of natural gas liquids are poised to quadruple by 2020 as the expansion of the Panama Canal cuts shipping costs to Asia. Continue reading
BHP Scraps Plans For Indian Oil
Mining giant BHP Billiton has exited from 10 Indian oil and gas exploratory fields due to clearance delays. Continue reading
New Discovery In Libya
OMV makes its 1st oil discovery in Libya since uprising began. Continue reading
South Korea Doubles Imports Of Iranian Crude
South Korea's imports of Iranian crude oil in September more than doubled from the previous month to 4.12 million barrels, or 137,467 b/d, compared with 1.97 million barrels in August. Continue reading
World Economy A Worry For OPEC
OPEC sees a possible drop in energy demand caused by a weaker world economy as its "main area of concern" for the next several months. Continue reading
Somalia Hustles Big Oil
The troubled Somali government is hustling to get big oil to begin exploration. Continue reading
China Seeks More Crude
Irag says China is looking for 70% more crude oil. Continue reading
Proposed Regulation Will Not Slow Growth
An ex-official says proposed regulations will not slow oil&gas growth in the U.S. Continue reading
Gaza Gas A Serious Prospect
Tony Blair says the prospects of drilling for gas in Gaza are a real prospect. Continue reading
China Data Lifts Crude Prices
Both Texas and Brent Sea benchmark crudes lifted on upbeat GDP data from China. Continue reading
North Dakota Output Could Hit 1M BPD
Continue reading
Mega Port Threatens Sudan
New Kenyan project could hurt Sudan in the long term. Continue reading
Aramco Plans Massive Investment
Aramco plans to spend big in order to maintain spare capacity. Continue reading
Tawke Flow Hits Record Rate
Oil flow from a well in Iraq's Tawke oil field flowed at a record rate. Continue reading
Gulf Production Hits Record High
Persian Gulf states set new records for production. Continue reading
OPEC Pumps 29.91 BPD
Platts announced that OPEC had pumped an average 29.91 million barrels per day in September. Continue reading
U.S. Rig Count Drops 13
Baker-Hughes reports that the net U.S. rig count dropped by 13 this month. Continue reading
China Crude Imports Rise
Imports of crude oil are increasing in China as the economy expands. Continue reading
Ex-Chesapeake CEO Back With New Venture
Aubrey McClendon is back with a new venture drilling the Utica Shale. Continue reading
Shell Shuts Trans Nigerian Pipeline
Shell was forced to shut down the Trans Nigerian Pipeline yet again. Continue reading
Shell Opens Majnoon Oil Feild
Shell opened Iraq's Majnoon oil field in a landmark move for the country. Continue reading
Arctic oil discovery heralds more finds
Last months announced find in the Barents Sea may lead to more discoveries. Continue reading
Uganda seeks to build refinery
The Ugandan government is taking bids for a new refinery to be built. Continue reading
North Africa Is World's Next Big Shale Prospect
Repsol study shows North Africa as next big prospect for shale gas. Continue reading
Iran considers end to natural gas flaring
The National Iranian Oil company says it want to sell natural gas instead of burning it off. Continue reading
Southeast Asia's energy demand is expected to soar
Southeast Asia's energy demand is expected to soar by more than 80 percent according to a new report from the International Energy Agency. Continue reading
Spectrum aims to survey parts of Lebanon for oil and gas
A joint effort is underway to survey parts of on-shore Lebanon for oil and natural gas deposits. Continue reading
Libya's oil sector faces long-term decline
Years of anarchy have taken their toll on Libya's oil industry. Continue reading
Iranian Oil Export Capacity Rises
This months tracking data reveals that Iranian oil exports rose 21% last month. Continue reading
Natural Gas Futures Drop On Inventory Supply
Natural gas prices hit hard by larger than expected build in inventory last week. Continue reading
Shell plans to sell stake in Eagle Ford Shale
Royal Dutch shell plans to sell it's lease holdings in the Eagle Ford shale region. Continue reading
Mexico Runs Low on Natural Gas
Despite largely untapped natural gas supplies Mexico's thirst for energy is driving up local prices. Continue reading
Barnett Shale Declines Could Foreshadow The Marcellus Shale Future
Studies of the Barnett Shale reserves point to a decline in production that some fear may foreshadow future events in the Marcellus shale deposits. Continue reading
Imperial Oil seeks approval for Beaufort Sea exploration
Imperial oil is in talks on a joint venture to explore the Canadian section of the Beaufort Sea. Continue reading
Indonesia Ripe for U.S. Investment in Shale Gas
Indonesian shale gas reserves may be the next target of U.S. investment. Continue reading
Barnett Shale Has More To Give
Barnett Shale has surprisingly more to give, Texas researchers find Continue reading
Royal Dutch Shutting Down Research Into Colorado Shale Oil Reserves
Continue reading
New Oil Discovery Confirmed In Kenya
British energy explorer Tullow Oil announced Thursday it made a new oil discovery. Continue reading
Pakistan's Iran Pipeline to Proceed
Pakistan moves ahead with plans to construct a new natural gas pipeline. Continue reading
Iran says It is Exporting More Oil
Iranian ministers report that the country is on the verge of reaching 1.3 million barrels per day. Continue reading
Bakken Oil Production Growth Has Slowed In 2013
There has been a dramatic slowdown in production growth over the first half compared to last year. Continue reading
Shell's Nigerian Subsidiary Shuts Down Pipeline
Shell's Nigerian subsidiary said Monday it has been forced to defer exports of 150,000 barrels of oil per day after thieves sabotaged its main pipeline Continue reading
Iran's role in North Sea gas field reviewed
The British government said it was examining the prospects for development of a North Sea gas field controlled in part by an Iranian oil company Continue reading
Dutch decision to delay shale gas drilling brings mixed reactions
The Dutch government move to delay a decision on shale gas drilling was hailed by local communities but not rejoiced by energy proponents. Continue reading
Contractors Shift Out Of Brazilian Off-Shore Market
The once-promising Brazilian offshore oil market is proving a thorn in the side of drilling contractors who are either leaving or shifting their rigs elsewhere. Continue reading
Tight Oil Holds Large Global Potential
Global tight oil reserves outside the U.S. could total more than current U.S. estimates. Continue reading
CNOOC announced a deal that will allow it to explore for oil in the shallow water of Bohai Bay. Continue reading
Nigerian Oil Companies Boost Production
Nigerian-owned oil companies are boosting their share of the country?s output by taking up fields in restive areas as international energy companies retreat. Continue reading
Iran Seeks To Mend Ties To West
Iranian president Hassan Rouhani has made moves to ease tension between Iran and the west, possibly leading to increased Iranian oil exports. Continue reading
LIbyan Out Put Rises
LIbyan oil output rises as oil field and port reopen, putting pressure on crude oil prices. Continue reading
Oasis Petroleum Increases Wiliston Basin Holding By 50%
Oasis closes three deals that combine to increase its holding in the Wiliston Basin by 50%. Continue reading
Impressive Production Growth At Large Bakken Producer
Continental Resources expects production at Bakken to increase 38% this year. Continue reading
Whiting Petroleum Expects Big Returns From Redtail Niobrara Wells
Whiting expects 5:1 return on Redtail Niobrara wells, could be best new play since Bakken. Continue reading
Production Guidance Upgrade
Two attractive energy plays with upgraded production guidance. Continue reading
Peak in World Oil Production Yet to Come
World oil production still on the rise. Continue reading
U.S. To Surpass Russia In Liquids Production
A top energy watchdog forecast the U.S. will bypass Russia in the production of liquid fuels. Continue reading
OPEC Output Drops
Saudi Arabia set a 32 year record production level even as total OPEC out put declined. Continue reading
Bakken Shale Update
Oasis has been improving its holdings in the Bakken shale region. Continue reading
Carrizo Oil & Gas Strikes It Big
Carrizo Oil & Gas is the latest shale play to strike it big. Continue reading
Currency Crash Could Hit Oil Demand
The recent crash in emerging markets could impact global demand according to the IEA. Continue reading
BP Finds "Significant" Gas In The Nile Delta
British petroleum company BP announced that is has found a significant source of gas in the Nile Delta. Continue reading
Iran Oil Export Capacity Rises
Recent tracking data shows that Iran's oil export capacity rose more than 6%. Continue reading
Hedge Funds Reduce Net-Long Positions
Hedge fund managers have cut net-long positions on Brent crude for the first time in over a month. Continue reading
Key Energy Resources Gearing Up For Revenue Improvements
Key Energy Resources Incorporated is gearing up for significant earnings growth. Continue reading
Conoco Phillips Investor Updata
Conoco Philips riding high on a slew of bullish news. Continue reading
Light Crude Tops $110 On Syria Fear
Support for a strike on Syria has oil prices surging. Continue reading
Libyan Production Falls Amid Armed Crisis
Armed forces are disrupting production of Libyan oil and gas. Continue reading
China Seeks To Join Shale Gas Revolution
China faces tough road to shale gas reserves. Continue reading
Chevron Takes Risk In Argentina
Chevron invests $1.24 billion in Argetina. Continue reading
Texas Permian Basin Heating Up
Shale oil production expected to double over the next 10 to 15 years Continue reading
Nuclear Plants Dying in U.S.
The Vermont Yankee becomes the fifth nuclear plant to close this year. Continue reading
Abnormal Hurricane Season
There has not been an Atlantic hurricane before the end of August for the first time in 11 years. Continue reading
Chartered Tankers at 4-Week High
Charter rates for tankers from the U.S. Gulf Coast to Europe surged to the highest level in almost four weeks as a boost in exports from the Gulf Coast reduced the number of available tankers. Continue reading
Record Gas Production in June
The EIA said revised production numbers for June may have set a record. Continue reading
Conoco Goes Deep
Conoco Phillips (COP) was the largest bidder in the recent Gulf of Mexico oil lease offering. Conoco was successful on $50.3 million in bids out of $102.35 million in winning bid. Continue reading
Apache Partnership
Apache (APA) announced a $3.1 billion deal with Sinopec (SNP) for a 33% interest in Apache's assets in Egypt. Apache will continue to operate the properties. The companies will jointly explore for oil and gas on Apache's leases covering millions of acres in Egypt. The deal is expected to close in the fourth quarter. Continue reading