Daily Energy News From OilSlick.com


OPEC Reacts to Oil Glut
The temporary excess of oil has OPEC members discussing production cuts. Saudi Arabia is already scaling back. Continue reading
BP Forges Ahead
The Macondo well had pressures that reached 13,000 PSI but that is just the starting point for BP's new effort. Continue reading
Oil Rigs at Record High
Active oil rigs rose to 1,601 last week and the most since Baker Hughes began counting them separately in 1986. Continue reading
Railroad Congestion Hurting Everyone
Peabody Energy guided lower for coal shipments in Q4 because of railroad congestion caused by oil shipments. Now farmers are complaining about the same problem. Continue reading
Exxon Leaves Russia
The U.S. government gave Exxon more time to shutdown work on the Arctic well to comply with Russian sanctions. Continue reading
Libya Is Back
Libyan crude production rose to 850,000 bpd last week as the oil fields and export terminals are restarted. Continue reading
Bakken Export Capacity Increases
Oil produced from the Bakken is currently restricted by takeaway capacity. If you don't drill near a pipeline or a rail head you are out of luck. Continue reading
Active Oil Rigs at 27 Year High
Baker Hughes said active oil rigs in North America rose to the highest level since 1987. Continue reading
IEA Cuts Demand Forecast
The IEA said the drop in demand growth was "nothing short of remarkable" in their recent forecast. That can't be good as an economic indicator but it does suggest much lower gasoline prices in the future. Continue reading
Dodged a Bullet
Halliburton dodged a very expensive bullet by agreeing to settle before the court decision. Continue reading
Stop the Oil Train Madness
Officials from North Dakota and other Midwestern states are urging U.S. regulators to halt oil shipments by rail. Continue reading
Shale Oil Sinking Saudi Arabia
The amount and price for oil imported from Saudi Arabia has fallen to multi decade lows. Continue reading
Worst Possible Outcome
In the disaster that will not die the judge presiding over the case gave BP the worst possible decision. Continue reading
Shell's $6 Billion Mistake
Shell has submitted a new plan to the federal government for drilling in the Alaskan Arctic. Continue reading
Morgan Stanley to Export CNG
Morgan Stanley announced it was planning a Compressed Natural Gas (CNG) export plant in Texas. Continue reading
Gas Prices Promoting Gas Drilling
Drilling rigs targeting natural gas rose by 8 last week to the highest level since March. Continue reading
IRAN Talks Tough
Iran said new U.S. sanctions will not impact the current round of nuclear talks. Continue reading
One Year High in OPEC Production
OPEC production hit 31,033 mbpd in August thanks to gains in Nigeria, Saudi Arabia and Angola. Continue reading
Ownership Shell Game
There is $100 million in oil on a tanker anchored off the coast of Texas. The oil was produced, loaded and shipped by Kurds through a port in Turkey. Iraq claims it is Iraqi oil and they want the cargo seized and held until the ownership question can be answered. Continue reading
Pemex Producing Water Instead of Oil
Mexico's Pemex lowered its production forecast on Friday saying the new outlook allowed for the rising volumes of water currently being produced with the oil. The new production forecast of 2.35 mbpd is thought to be closer to reality. Continue reading
Hamas Targeting Offshore Gas Rigs
Hamas has not had a lot of success recently in hitting their targets in Israel. Those rockets on course for populated areas normally get shot down by Israel's Iron Dome anti-missile system. Hamas turned its sights offshore and targeted the massive drilling rigs in the Israeli gas fields. Continue reading
BP Back in the Bids
BP Plc submitted the winning bids on 27 of 81 tracts offered for lease in the Gulf of Mexico. It was the first bid sale BP has participated in since the Deepwater Horizon disaster. The government blocked BP from bidding in 2012 until they had settled numerous claims related to the safety of the Horizon rig. Continue reading
Gas Production Rising Slowly
The EIA raised its estimate for U.S. natural gas production growth in 2014 to 5.3%. Production is rising twice as fast as demand. Continue reading
The Imminent Peak in US Oil
While everyone is claiming the U.S. will be energy independent by the end of the decade the geologic facts remain opposed to that claim. Continue reading
Active Oil Rigs Hit Record High
Baker Hughes said oil drilling outside the country's biggest oil fields helped push the rig count to a record high. Continue reading
Mexico Monopoly Ends after 76 Years
The Mexican Senate voted 90-27 to end the Pemex monopoly and open Mexican oil reserves to development by foreign companies. This will open Mexico up to receive $1 trillion in investment dollars as foreign companies flood in to explore and develop Mexican oil deposits. Continue reading
Ukraine Fights Back
Ukraine is threatening to halt shipments of Russian oil and gas across Ukrainian territory. Continue reading
Petrobras Profits Miss Estimates
Petroleo Brasileiro SA (PBR) is the biggest deepwater oil producer but it could not meet analyst estimates on earnings. Continue reading
Technical Problems
The energy news section is unavailable today due to technical problems. We apologize for this inconvenience. Continue reading
Mexico's Oil Production Shrinking Fast
Mexico's state-run monopoly on oil, Petroleos Mexicanos (a.k.a. Pemex), recently announced that production has fallen to the lowest pace in 24 years. Continue reading
Is Iraq's Stolen Oil Headed For Houston?
The Kurds of Northern Iraq could be one step closer to independence and the U.S. might be supporting it. Officially the U.S. government supports a unified Iraq but if the Kurds find willing and steady buyers for its oil it will ease the way for their independence. Continue reading
U.S. Exports To Europe Surge
Oil production in the U.S. is the highest it has been in decades. This surge in domestic oil has been a blessing for U.S. refiners. Continue reading
Almost 7 out of 10 Support More Offshore Drilling
A new survey polled 1,000 voters on offshore drilling in U.S. waters. Results showed that 68 percent are in favor of support new drilling. Continue reading
Gasoline At 4-month Lows
The surge in U.S. oil production has lifted output to levels not seen since 1986. Elevated levels of supply are helping drivers at the pump. Continue reading
No Slowdown In Iran Exports
Failure to come to any significant agreement over Iran's nuclear program last week did not result in any penalties for Iran's oil exports. Continue reading
One Step Closer To Atlantic Drilling
Current estimates suggest there are 4.7 billion barrels of recoverable oil under the Atlantic Ocean off the east coast of the United States. Continue reading
Baker Hughes Bullish On Oil Services
BHI is the world's third-largest oilfield services company with products and services ranging from hydraulic fracturing of oil and gas wells to seismic surveys. Continue reading
Islamic Militants In Syria Kill Hundreds, Capture Gas Field
A growing portion of Syria's oil and natural gas reserves are falling into the hands of the Islamic State, previously known as the Islamic State of Iraq and the Levant (ISIL, or ISIS). Continue reading
New Russian Sanctions Could Hurt Exxon
The U.S. and the West have been threatening Russia with new sanctions if they did not do more to de-escalate the situation in Ukraine. Russia has allegedly been supporting the Ukraine insurgents. Continue reading
Shell Makes New Discovery In The Gulf
Shell Oil Co. reported a new discovery in the Gulf of Mexico this week. The company estimates the formation could hold 100 million barrels of oil. Continue reading
Buying Coal From Russia?
The U.S. has often been called the Saudi Arabia of coal. So why did New Hampshire's largest electric utility just buy 38,500 metric tons of coal from Russia? Continue reading
U.S. Could See Surge In Condensate Exports
The United States has banned the export of crude oil since the early 1970s following the 1973 Arab oil embargo. Last month two companies got permission to start exporting oil condensates. Continue reading
A Must Read: 21st Century Energy Wars
Conflicts are rising around the globe. Some are new while others are growing more intense. If you look past the headlines and dig deeper the odds are you will find oil and the control of energy fueling the conflict. Continue reading
Not Waiting For Keystone
Capitalism isn't waiting on the Keystone XL Pipeline to be approved. The ill-fated pipeline has been held up with regulatory delays for years. Continue reading
Catastrophic Consequences for Americans
The United States could face catastrophic consequences if we do not tighten security around our electrical grid. Continue reading
EIA's Outlook On Coal
The U.S. Energy Information Administration just released their latest estimates on coal use in America. Continue reading
America #1 Oil & Gas Producer
Crude oil and natural gas production inside the United States has been surging thanks to the shale energy boom. Production hit more than 11 million barrels of oil a day in the first quarter of 2014. That makes America the largest energy producer in the world, surpassing both Russia and Saudi Arabia. Continue reading
Russia Hacks Into U.S. Energy Companies
The Cold War isn't dead. It merely moved. Today it is a game of cyberwarfare and industrial espionage. Continue reading
What If We Lose Iraq's Oil?
Right now most of the headlines about oil are centered on Iraq and for good reason. Iraq's oil production has ballooned to 2.5 million barrels a day... Continue reading
Oil In Focus Amid Iran Nuke Talks
Multi-nation talks with Iran concerning its nuclear program resumed in Vienna on July 2nd. Continue reading
Offshore Wind Power About To Pick Up Speed
Wind power has been a popular choice for countries looking to develop alternative and renewable energy sources. Continue reading
Another U.S. Bill To Expand Offshore Drilling
The Republican-controlled House of Representatives passed a new bill that would force the federal government to allow drilling off the coasts of California, South Caroline, and Virginia. Continue reading
Demand For Diesel Fuel To Soar
The United States Energy Information Administration estimates that the transportation sector will see energy demand decline 4.5 percent between 2012 and 2014. Continue reading
China & Mexico Sign Energy Deal
The two countries have launched a $4 billion energy fund to invest in large-scale infrastructure projects. Continue reading
Export Approval Tests Limits Of U.S. Oil Export Ban
The Commerce Department was making headlines on Wednesday after they approved two Texas companies to export minimally distilled ultralight oil, normally referred to as condensates. This decision is pushing the limits of the 40-year ban on crude oil exports. Continue reading
Congress Passes Bill Favoring Natural Gas Exports
The U.S. House of Congress approved a new bill that would speed up the approval process for energy projects to export natural gas. Continue reading
Chinese Oil Inventories Rising
The latest data says China's oil imports are rising and commercial stock piles of crude hit an all-time high in May. This might be a sign the country has increased imports to divert supplies to their own strategic oil preserve. Continue reading
U.S. Approves 2nd LNG Export Terminal
San Diego based Sempra Energy (symbol: SRE) said its Cameron LNG subsidiary has won federal approval to build a natural gas export terminal. Continue reading
Japan To Restart Nuclear Power, Pushing LNG Lower
The price of liquefied natural gas (LNG) doubled in Asia over the last three years following the Fukushima nuclear power plant disaster in March 2011. Continue reading
Iraq's Biggest Oil Refinery Under Attack
Iraqi insurgents continue their march south toward the country's capital of Baghdad. There are conflicting reports that the Islamic State in Iraq and Syria fighters (a.k.a. ISIS) has captured Iraq's biggest oil refinery in the town of Baiji. Continue reading
Canada Approves Northern Gateway Pipeline
Enbridge Inc. proposed the Northern Gateway pipeline ten years ago. The Canadian government's approval this week was the last major hurdle to the project. Continue reading
Ukraine Natural Gas Pipeline Explodes
One day after Russia's state-run energy giant OAO Gazprom supposedly cut off its natural gas supplies to Ukraine a major gas line explodes. Continue reading
Another Oil Shock Brewing?
Will the violence in Iraq and the rise in oil price that follows kill the global economic recovery? Continue reading
Russia Ready To Cut Ukraine Gas Supplies
Russia's state-run energy giant OAO Gazprom has delayed its demand that Ukraine prepay for natural gas supplies while the two countries negotiate on Ukraine's $2 billion past due bill. Continue reading
China's Energy Demand Will Be Unrivaled
Energy demand for crude oil and natural gas in China and the surrounding Asian economies is poised to surge over the next several years. Continue reading
Iraq's Troubles Threaten OPEC's Oil Growth
The International Energy Agency (IEA) had forecast Iraq to provide about 60 percent of OPEC's production growth over the next several years. Continue reading
Drug Gangs Killing Shale Oil In Mexico
Last year the Mexican government ended a 75-year monopoly on Mexico's energy industry. As lawmakers reform oil laws that allow foreign companies access to Mexico's oil and gas resources the country hopes it will bring in $20 billion a year in foreign investment as soon as 2015. Yet one issue is growing to be a serious threat - violence and theft. Continue reading
Goldman Sachs Suggest Keeping U.S. Oil Export Ban
After suffering through the 1973-74 Arab oil embargo the United States government created a law in 1975 that banned U.S. oil exports. Today that ban is being questioned as U.S. oil production surges to 30-year highs. Continue reading
China Rushing To Fill Its Own SPR
The world continues to feel the impact of the 1973-74 Arab oil embargo. In 1977 the United States started its strategic petroleum reserve (a.k.a. SPR). Now China is trying to fill their own version of an SPR. Continue reading
$10 Billion Canadian Oil Sands Refinery Planned
Pacific Energy Future Corp., a new Canadian company, plans to build a C$10 billion oil refinery on the coast of British Columbia to process Alberta's oil sands bitumen. Continue reading
South America: The Next Shale Frontier
As the shale-oil and gas development in the U.S. matures investors and international oil companies are looking elsewhere for the next untapped region. That region could be South America. Continue reading
OPEC Losing Influence?
The Organization of Petroleum Exporting Countries (OPEC) is not having the same influence on the oil markets like it used to. Continue reading
Hydrogen Fuel Use Growing
Science fiction is becoming a reality as hydrogen fuel cell technology improves, gets cheaper, and starts to replace fossil fuels. The industry is seeing growth hydrogen-electric powered cars and businesses. Continue reading
The World Needs $40 Trillion For Energy
The International Energy Agency (IEA) released a new report yesterday estimating how much the world needs to invest to meet its energy demands by 2035. That number is $40 trillion. Continue reading
New EPA Rules Target Coal Emissions
President Obama's supporters have been hoping he would move the U.S. away from carbon-dioxide emitting power production. The Environmental Protection Agency (EPA) just released new rules this week targeting coal-fired power plants. Continue reading
Russia Delays Pre-payment Demand On Ukraine Gas
Russia's state-owned energy giant Gazprom said it was delaying its previous demands that all natural gas deliveries to Ukraine be pre-paid starting early June. Continue reading
Natural Gas Sucking Investment From Renewables
America's resurgence in oil and natural gas production has brought the country closer to energy independence than any time in the last thirty years. Yet the love affair with natural gas, a cleaner energy than crude oil and coal, is diverting investment dollars away from renewable energy like solar and wind power. Continue reading
Debt Surging for Shale Drillers
The shale oil business is not quite as profitable as many expect. According to Benjamin Dell, managing partner at Kimmeridge Energy, "not everyone is going to survive." Continue reading
Shale Revolution Saving U.S. Shipbuilding
The surge in U.S. crude oil, thanks to hydraulic fracking and the technology to reach "tight oil" in shale formations, has revived U.S. ship manufacturing. Continue reading
North Iraq Kurds Begin Oil Exports
Kurdistan, in northern Iraq, and the central Iraqi government located in Baghdad, have been fighting over oil revenues for years. Continue reading
Europe Too Dependent On Russian Gas
EU leaders were meeting in Brussels today and the conversation turned to sanctions on Russia and Europe's addiction to Russian natural gas. Continue reading
Oil Rigs Getting More Advanced
The oil industry has had "walking" oil rigs for a few years now. The massive platforms creep along a few feet every hour as they move to the next drilling sight for an area with clustered wells. Now companies are building rigs that eliminate some of the more dangerous jobs usually done by man. Continue reading
Canada May Use Trains To Bypass Keystone Pipeline
TransCanada Corp. and its customers are tired of waiting on the U.S. government to approve its Keystone XL pipeline. They proposed the $5.4 billion pipeline from Canada to cross six states and join the lower half of the Keystone pipeline six years ago. Today the company is looking at transporting its crude oil by railroad. Continue reading
Russia Signs $400 Billion Deal With China
After years of negotiations Russia and China finally signed a deal on natural gas. Russian President Vladimir Putin called it a "epochal event" when his state-run OAO Gazprom, Russia's largest company, signed a deal with China National Petroleum Corp. in Shanghai. Continue reading
OPEC Questions American Oil Boom
OPEC has doubts about the long-term sustainability of America's shale-oil boom. Continue reading
Rogue General Gaining Support In Libya
The situation in Libya is escalating again. The country has struggled to build a solid central government since rebels toppled Muammar Qaddafi's dictatorship in 2011. Continue reading
Price An Issue In China-Russia Gas Deal
Russia and China have been negotiating on a natural gas deal for a long time. These two nations have been dancing around an export deal for years. Russia wants more export customers. China needs more natural gas. The two have never been able to agree on a price. Continue reading
BP Facing Billions In Additional Payments Over Spill
BP Plc says it might have to pay billions in additional claims after losing another legal battle in appeals court. The company believes it is being forced to pay for claims that were not related to worst accidental oil spill in history. Continue reading
Modi's Win In India A Win For Oil Industry
India's recent election could mean good news for the oil and gas industry. The Bharatiya Janata Party's historic win gives the new Prime Minister Narendra Modi the power to reform the country's oil and gas industry. Continue reading
Big Oil Eyes Arctic Waters Again
The U.S. Geological Survey estimates that one-third of the world's natural gas and 13% of its undiscovered oil is hidden in the Arctic. That's about 90 billion barrels of oil and almost all of it is underwater. Continue reading
Time Running Out For Iran Nuclear Talks
Sensitive talks with Iran about its nuclear program appear to have stalled. The fourth round of talks just ended in Austria on Friday. Continue reading
A Frightening Look At Europe's Energy Reserves
The Global Sustainability Institute has issued a new report on Europe's fossil fuel reserves and the outlook does not look good. As domestic supplies dwindle it will force an unhealthy dependence on exports countries like Norway, Russia, and Qatar. Continue reading
Saudi Arabia Developing Shale Gas
The Saudi's have embraced the shale gas revolution. The state-run Saudi Arabian Oil Co. (a.k.a. Aramco) released their annual review. The company said the country's natural gas reserves... Continue reading
EPA Considering Tighter Emission Standards For Refiners
It has been almost twenty years since the U.S. Environmental Protection Agency (EPA) has issued any emission standards for the oil refining industry. Continue reading
Rig Count Surging In The Permian Basin
The Permian Basin has been producing oil and gas for decades. The formation is about 250 miles long and about 300 miles wide and located in the West Texas and southeastern New Mexico area. Continue reading
Texas Offering Incentives for CNG & Electric Vehicles
Do you live in Texas and considering a new car purchase soon? The state is offering up to a $2,500 incentive to buy alternative-fuel vehicles. Continue reading
Will The White House Lift The Oil Export Ban?
Experts are predicting that the Obama administration will most likely lift the 40-year old ban on U.S. oil exports. Continue reading
Coal: Rising Demand Versus Climate Change Politics
Oakland, California, is a city with unemployment almost double the national average. A U.S. energy company wanted to move to town and create a coal export terminal. Continue reading
Russia's Gazprom Still Demanding Advance Payment
Russia is the world's largest energy exporter and Gazprom is the largest Russian energy company. Following through on its prior threats Gazprom is demanding that Ukraine pre-pay $1.66 billion for June gas deliveries. Continue reading
U.S. To Build First Regional Gas Reserve
The U.S. Department of Energy (DOE) started their Quadrennial Energy Review in January this year. The review will study each region of the U.S. for vulnerabilities to energy supply infrastructure. Continue reading
Why Haven't Oil Prices Gone Crazy?
Oil prices have plenty of reasons to be volatile and significantly higher than they are now. Yet the oil market has been strangely calm. Continue reading
Russia Wants Ukraine To Prepay For Gas
Russian President Vladimir Putin warned Europe last month that his country might be forced to cut off natural gas supplies to Ukraine unless they start pre-paying for deliveries because of Ukraine's massive unpaid bill. Continue reading
Iran Rejects Export Limits
"We will export at the maximum level possible." That is how Iran's Oil Minister Bijan Zanganesh responded to reporters over proposed restrictions. Continue reading
Texas Produces More Than One Third of U.S. Oil
The technological advancements of "tight oil" drilling and hydraulic fracking have produced an energy boom in the United States. Texas is leading the charge. Continue reading
DoT Issues Emergency Rule On Oil Transport By Rail
Recent railcar derailments and burning oil cars has prompted regulators to try and tackle the growing problem. A new emergency order by the U.S. Transportation Department hopes to dial down the risk but opponents say it's not enough. Continue reading
Europe Burning More U.S. Coal
The Obama administration is just weeks away from launching new rules on power plant emission restrictions that could limit how much coal is burned in the United States. At the same time U.S. coal is finding a hungry market in Europe. Continue reading
Crimea's Energy Potential Now Russia's
The implications of Russia's recent annexation of Crimea are being felt in the energy industry. Ukraine has lost a significant chunk of its offshore energy reserves and infrastructure in the Black Sea and the Sea of Azov. Continue reading
China Pushes Into Vietnamese Waters
China has moved its first ever deep-water drilling rig into heavily disputed waters in the South China Sea. The rig's new location is near the Paracel Islands, which is inside the 200-mile (120 nautical mile) exclusive economic zone of Vietnam. Continue reading
Is The Shale Boom Riding A Debt Bubble?
The Federal Reserve's policy of holding interest rates near zero has helped drive investor demand for yield. This has turned into a massive surge of junk bonds as shale drillers vacuum up capital to keep their production growing. Continue reading
Keystone Supporters Trying To Bypass The White House
Supporters of the controversial Keystone XL pipeline say they are close to the 60 votes they need in the U.S. Senate to pass a bill that would bypass the White House. Continue reading
DOE Scientists Design New Fuel Cell Catalysts
Scientists discover breakthrough design that could make fuel cell technology smaller and cheaper. Continue reading
North Dakota Loses $100 Million A Month
North Dakota is losing an estimated $100 million a month in wasted natural gas that is burned away as part of the oil extraction process. Continue reading
Israel Poised To Export Natural Gas
The small Eastern Mediterranean country of Israel is poised to become a major exporter of natural gas. Continue reading
Untapped Hydropower In the U.S.
New research suggest the United States has significant untapped hydropower. Currently hydropower accounts for only seven percent of total U.S. electricity generation. It also happens to be the country's largest source of renewable energy. Continue reading
Demand For Sand Soaring Thanks To Fracking
The fracking industry's demand for sand is soaring! As the number of hydraulic fracking wells increase the need for sand is surging. Continue reading
Putin Threatens Sanctions Could Jeopardize Energy Deals
The United States and the European Union both announced stricter sanctions on Russia this week. This amounted to adding more people to the travel ban, listing more Russian companies on the sanction list, and freezing more assets. Continue reading
Iran Kicks China Out Of Major Oil Field
China has been a key energy partner with Iran after Western oil corporations exited Iran following a European ban. Relations between the two countries might be souring a little. Continue reading
Libya Cancels Force Majeure On Exports
Libya continues to make progress in a deal with rebels to return control of major oil ports back to government control. Continue reading
Nigeria: Still Struggling With Oil Theft
Nigeria is one of Africa's biggest oil producers. They also suffer from some of the worst oil thievery. Continue reading
Is Coal Europe's Future?
Russia's new aggression toward its neighbors and its powerful position as the major energy exporter to Europe have many European leaders desperately looking for an alternative to Russian natural gas. Continue reading
Fracking Discontent
Geologists have known about shale-rock formations that house oceans of natural gas and oil for decades. It wasn't until 1981 when an oilman, George Mitchell, started experimenting... Continue reading
The Virtues Of Shale Gas
More than a decade after the U.S. embraced shale gas drilling the industry continues to blossom. The United States is closer to energy independence than it has been in several decades. Continue reading
Helping Ukraine Develop Shale Gas
As tensions between Ukraine and Russia continue to rise the United States is also trying to support Ukraine's future energy needs. Continue reading
Driller Sees Booming Shale Industry In China's Future
China hopes to mimic the success the shale-drilling industry has seen in the United States. Continue reading
Russia-China Natural Gas Deal Coming Soon
Russian President Vladimir Putin is scheduled to visit Beijing, China in May this year. Energy experts are predicting this could signal a natural gas deal to be finalized between the two countries. Continue reading
New Research Explores Economic Threat of Peak Oil
A new research paper looks at the impact Peak Oil could have on individual sectors of the U.S. and global economies. The researchers looking into the vulnerabilities of specific industries and potential action points to make them less vulnerable. Continue reading
VW Unveils 300 MPG Car
Governments have been pressuring the auto industry to increase gas mileage on their vehicles for years. Volkswagen has just produced the best concept yet with their XL1, their "one-liter car", which can deliver 300 MPG. Continue reading
Japan Imports Record Level of Coal & LNG
The impact of the Fukushima nuclear power plant disaster in 2011 continues to shape Japan's economy. Continue reading
Gasoline Prices Hit 13-Month High
Every year America's oil refiners shut down in spring for scheduled maintenance. Since the Clean Air Act Amendments of 1990 and 2000 refiners have had to switch winter blends to summer blends, which are supposed to be less polluting. Continue reading
Obama Delays Keystone Pipeline Yet Again
The controversial Keystone XL pipeline was first proposed by TransCanada Corporation back in 2008. Environmentalists opposed the construction of the pipeline over worries a spill could pollute a major aquifer. Continue reading
A Closer Look At Water Usage For Fracking
Hydraulic fracking opponents have a list of complaints about the energy industry's technique that has rejuvenated oil and natural gas production in the United States. Near the top of the list is large demand for water necessary for every fracking well, especially in chronically low-water areas of the country. Continue reading
Russia Claims Massive New Oil Field
Russia has announced the discovery of a massive new oil and gas find in the Astrakhan region of Russia, near the Caspian Sea. Continue reading
Fracking's New Challenge: Radioactive Waste
Hydraulic fracking is the driving force behind the energy revolution in the United States. The technology allows drillers to bore through shale formations and blast them with a recipe of pressurized water, sand, and chemicals. This process has been blamed for tainted water supplies, air pollution, a massive jump in earthquakes, and now radioactive waste. Continue reading
Booming U.S. Energy Desperately Needs Skilled Labor
Oil and gas companies are spending a record $35 billion on projects along the Houston Ship Channel. Louisiana has $60 billion worth of projects scheduled through 2016. Together they need more than 351,000 workers. Continue reading
The Lure Of LNG
Liquefied natural gas (LNG) was gaining attention long before Russia's invasion of Crimea sparked the Western world's search for alternatives to Moscow's gas exports. Continue reading
Nigeria Losing Exports While Angola Gaining Foreign Investment
Rising domestic oil production in the United States has significantly cut Nigerian oil exports to the U.S. Last year Nigeria's total crude oil export fell -13.4%. The sharp decline was a fueled by a -90% drop in oil exports to the U.S. Continue reading
Is Natural Gas In Rail's Future?
The United States Energy Information Administration (EIA) believes that natural gas could become a significant fuel source for railroads in the future. Continue reading
Ukraine-Russian Tensions Rising Again
We could see more volatility in the oil market if pro-Russian protestors in Ukraine spark another conflict. Continue reading
U.S. Oil Reserves Near 40-Year High
The United States Energy Information Agency (EIA) recently published a report the "U.S. Crude Oil and Natural Gas Proved Reserves (2012)". This new data shows that proven oil reserves in the U.S. have risen four years in a row in 2012. The increase has boosted reserves by 15% to 33 billion barrels. Continue reading
China Faces Larger Risks Fracking Shale
China is rushing to build up their nascent tight-oil industry. Unfortunately the country faces greater risk than the U.S. Continue reading
Russia & Ukraine Continue Arguing Over Gas
Russia has once again threatened to cut off natural gas supplies to Ukraine over price disputes and unpaid bills. Gazprom, the Russian state-controlled energy company, says Ukraine owes them $2.2 billion. Continue reading
OPEC Needs To Pump More In 2014. IEA Updates Monthly Report
Oil produced by the twelve members of the Organization of Petroleum Exporting Countries accounts for about 40 percent of global oil supplies. In February the cartel pumped 30.51 million barrels a day in February. Continue reading
Russia Could Cut Gas Supplies. West Warns Of New Sanctions
Russian President Vladimir Putin warned Europe that his country might be "forced" to cut the flow of natural gas to Ukraine over unpaid bills. The United States responded with accusations that Russia is using its energy dominance "as a tool of coercion." Continue reading
The Future Price Of Oil
"$100 a barrel for oil is becoming the new $20 a barrel in our business... costs have caught up to revenues for many classes of projects. If $100 is the new $20, consumers will a pay more for oil." Continue reading
Norway Fights To Explore The Arctic
The oil and gas industry has been key to Norway's financial success. Drilling for oil and gas account for more than 20% of the country's GDP. As the country seeks to keep the money flowing more and more eyes are turning north, to the Arctic ice cap, a largely unexplored, resource-rich area. Continue reading
Libya Could Triple Oil Exports
Progress with negotiations between Libyan rebels and the government on control of key oil ports could lead to significant export growth. Continue reading
The End Of U.S. Oil Imports?
The EIA issued a new forecast today. The best-case scenario projected the U.S. could be energy independent by 2037. Continue reading
What Happened To The Golden Age Of Gas?
A few years ago (2011) the International Energy Agency (IEA) produced a 100 plus page report titled, "Are We Entering The Golden Age Of Gas?". Continue reading
Is Fracking Causing More Earthquakes?
Oklahoma, centrally located in the U.S. just above Texas, is now the second most active state for earthquakes in the country. Continue reading
What Happens If The U.S. Starts Exporting Oil?
Forty years ago, following the Arab oil embargo of the early 1970s, the lawmakers made it illegal to export U.S. crude oil. The plan was to keep domestic oil here at home to make the United States more energy independent. Continue reading
U.S. Water Supply: The Hidden Cost Of Fracking
A new study shows that hydraulic fracking is taking a toll on some of America's most water-stressed communities. A fracking well can use two million to four million gallons of water. Since 2011 there have been 40,000 shale-formation wells drilled in the U.S. consuming 97 billion gallons of water. Continue reading
Doubts Rising On Accuracy Of Energy Reserves
How do you measure the amount of crude oil and natural gas trapped thousands of feet below the earth's surface and then come up with an estimate on potential energy reserves? Many companies use the Arps method. Continue reading
Spain Considers Fracking For Natural Gas
The energy industry has struggled with widespread environmental opposition across Europe for years. The controversial technique of hydraulic fracking has faced major headwinds. Yet the situation is starting to change. France has banned fracking. Germany has temporarily banned the use of toxic chemicals in fracking water. While Poland, Britain, and Spain are exploring their shale-gas formations. Continue reading
U.K. Could Be Sitting On Huge Shale Gas Reserves
Britain, like most of Europe, has been slow to approve the use of hydraulic fracking techniques to drill for oil and natural gas in shale formations. John Browne is leading the charge as his company explores what could be a "mother lode" of natural gas that could power the U.K. for 40 years. Continue reading
Oil Tankers In Strait of Hormuz Taking Gunfire
Normally we hear about piracy and attacks on oil tankers and large ships off the coast of Somali. The last couple of days have seen attacks on tankers in the critical oil shipping lane through the Strait of Hormuz. Continue reading
Mexico's Oil Production Falls Toward 20-Year Lows
Mexican oil production as of March 30th fell to 2.47 million barrels a day. That's the lowest level since October 1995 when production was 1.898 million a day. Continue reading
U.S. Urges Europe To Solve Addiction To Russian Gas
Shockwaves from Russia's invasion and annexation of Crimea continue to ripple through the global markets. The United States is urging Europe to wean itself from a "dangerous dependency on Russian (natural) gas". Continue reading
Gazprom Aiming For 15% of World LNG Market
Russian energy giant Gazprom delivered its first liquefied natural gas (LNG) cargo nine years ago. Since then they have expanded deliveries to 12 countries. Now they aim to take 15% of the global LNG market by 2030. Continue reading
No Alternative To Russian Gas
Germany is Europe's biggest economy and depends on Russian natural gas for nearly one third of its imports. The two biggest German utilities get the majority of their natural gas from Russian energy giant Gazprom. Continue reading
Global Oil Crunch In 2015?
Dr. Jeremy Leggett, a former oil geologist, industry consultant, and former adviser to the British government, has a new book out: "The Energy of Nations: Risk Blindness and the Road to Renaissance" Continue reading
Iraq Oil Production Hits 35-Year High
Iraq has grown to become the second-largest member of the Organization of Petroleum Exporting Countries (OPEC) behind Saudi Arabia. International sanctions and war have handicapped production for decades. Continue reading
Tight Oil Growth Lifts U.S. Production To 10% Of Globe
The U.S. Energy Information Administration has released new details on domestic production. The growth of "tight oil" or shale-oil production has pushed America's crude oil production to more than 10% of the world's total production. Continue reading
Canada's Plan B For Tar Sands Oil
The U.S. government continues to fumble and delay any decision on the controversial Keystone XL pipeline. Enterprising Canadians have come up with a "Plan B" to cut the U.S. out of the picture. Continue reading
U.S. Oil Influencing Mid-East Relations
The world has changed significantly since President Obama last visited Saudi Arabia five years ago. The booming oil and natural gas production inside the U.S. has reduced the country's need for foreign imports. By 2016 the U.S. is expected to produce more than Saudi Arabia. Continue reading
China Looking For Shale-Gas Growth
The potential for shale-gas and shale-oil production in China is tremendous. Bernstein Research compares some of the Chinese shale-gas basins to the size of the Marcellus shale formation in the U.S. Continue reading
Lawmakers Pushing For Exports To Counter Russia
Forty years ago the U.S. was shaken by the Arab oil embargo. In reaction to the embargo lawmakers decided to restrict U.S. energy exports based on national security. Today members of the U.S. government are pushing to increase U.S. oil and gas exports to counter Russia's more aggressive stance following its annexation of Crimea. Continue reading
Another Permit Approved For Natural Gas Exports
The U.S. Department of Energy just authorized another terminal to export natural gas. This marks the sixth project to receive approval to export liquefied natural gas to countries that do not have a free-trade agreement with the United States. Continue reading
Japan Feeling Uncomfortable Over Ukraine
Japan has very little energy resources and is forced to import oil and natural gas. Its demand for imports have been rising after the country shutdown its nuclear reactors following the disaster at its Fukushima Daiichi plant in 2011. Continue reading
Houston Ship Channel Shuttered On Spill
The 52-mile shipping channel from Houston to the Gulf of Mexico was shutdown on March 22nd after a two ships, one a barge, crashed into each other spilling 4,000 barrels of bunker oil. Continue reading
Crimea's Impact On The Oil Markets
The full impact of Russia's invasion and annexation of Ukraine's Crimea peninsula will not be felt for years. However, we are already seen how Crimea has elevated political tensions between the U.S., Europe, and Russia and how China is poised to take advantage of it. Continue reading
Mexico Preparing For Rush Of Oil Investment
The state-run oil company Petroleos Mexicanos, a.k.a. Pemex, has had a 76-year monopoly on Mexico's oil and gas development. Unfortunately lack of investment has led to a nine-year plunge in Mexico's oil production. Continue reading
Potential Glut For Oil-Product Tankers
The oil-shipping industry suffered a terrible supply glut during the 2008-2009 financial crisis after ordering too many ships built. Now it seems they're making the same mistakes all over again. Continue reading
U.S. NatGas Exports To Mexico Rising
Mexico has long been an oil exporter with most of its oil going to the U.S. Yet lack of investment in Mexico's energy sector has left it unable to fully access its own natural gas resources. Instead the country imports cheap natural gas from the U.S. Continue reading
Questions For The Oil Industry's New Era
Rapidly rising production costs and more focused capital investments are pushing the oil industry into a new era. Continue reading
BP Wins New Gulf Leases For First Time In 2 Years
BP Plc, one of the largest international oil and gas companies, just won new U.S. offshore oil leases for the first time in two years. Continue reading
Looking For Black Gold In Texas
Oil companies are flocking back to Texas as the industry tries their luck re-drilling abandoned oil fields. Continue reading
Canada Planning for Overseas Exports
Canada is losing $35 million a day due to its lack of overseas exports, according to Canadian Natural Resources Minister Joe Oliver. Continue reading
China's Rising Natural Gas Production & Demand
The United States has been making headlines the last couple of years with its booming shale-gas production. Yet it is China that has the biggest potential. Continue reading
$641 Billion Needed For U.S. Energy Boom
A new study forecasts that spending on energy infrastructure in the U.S. will need to triple to keep up with new U.S. energy production between now and 2035. Continue reading
U.S. Removes Ban On New BP Drilling
BP plc, previously known as British Petroleum, is one of the largest international oil and gas companies in the world. They are also responsible for one of the worst oil spill disasters in the United States. Continue reading
U.S. Navy Seals Board Stolen Libyan Oil Tanker
The story of Morning Glory, a rogue Libyan oil tanker, continued this week. Back in February the ship changed its name from Gulf Glory to Morning Glory and switched its flags from... Continue reading
Nigerian Navy Destroy Oil Refineries
Crude oil theft is a widespread crime in Nigeria, the largest oil producer in Africa. The biggest international oil companies in Nigeria are Shell, ExxonMobil, Chevron, Total, and Eni. Shell claims that it lost $1 billion in Nigerian oil thefts in 2013. Continue reading
Alaska Suing Over Rejected Oil Exploration
The state of Alaska is suing the federal government for refusing to look at an oil and gas exploration plan of the Arctic National Wildlife Refuge (ANWR), a massive 19 million square acre tract of land. Continue reading
Crude Oil Rail Traffic Is Surging
The amount of crude oil being transported by railroad in North America is surging. Continue reading
Potential Impact Of Sanctions Against Russia
The Crimean peninsula of Ukraine is poised to hold a Russia-supported referendum on Sunday, March 16th, to leave Ukraine and join Russia or leave Ukraine as their own autonomous region. Continue reading
Iraq Oil Production Surges
Iraq has struggled to meet its oil production quotas for years but upgraded infrastructure allowed production to surge last month. Continue reading
OPEC Raising Oil Demand Estimates
The 12-country Organization of Petroleum Exporting Countries, OPEC, updated their global oil demand estimates. Continue reading
EU Freezes New Russian Pipeline Plans
The Wall Street Journal has an interesting article on the EU's plans to freeze Russian's pipeline expansion plans deeper into Europe. Continue reading
Mexico Hoping For Billions Of Foreign Investment
Mexico is hoping more open regulations will bring in billions of foreign investment. Continue reading
Crude Oil Falls Below $98 A Barrel
Crude oil futures have been sinking from their early March highs. WTI oil futures for April delivery are down -2.2% and trading below $98 a barrel. Continue reading
Fight Brewing In Libya
The recent attempt to smuggle oil out of the Libya without government approval has sparked an escalation in the conflict. Continue reading
Demand For Deepwater Rigs Sinking
The surge in demand for expensive, deepwater rigs appears to have crested, at least temporarily. Continue reading
Oil Tanker Seized In Libya
Libya has the largest oil reserves in Africa. The country has struggled to maintain production since the rebellion that ended Qaddafi's rule in 2011. Continue reading
Can U.S. Natural Gas Counter Russia?
The situation in Ukraine with Russian military forces in Crimea and the Russian energy giant Gazprom demanding payment or threatening to cut off natural gas supplies makes for interesting headlines. Continue reading
Oil Rigs In The U.S. Surge To A Record
Every week Baker Hughes Inc.(BHI) produces a weekly report on the number of rigs in the U.S. Back in 1987 they made the distinction between rigs drilling for oil and rigs drilling for natural gas... Continue reading
Russia Threatens Gas Supplies Over $2 Billion Ukraine Debt
Russia says Ukraine's bill for natural gas has hit $2 billion, and Russia may decide to cut supplies if they don't receive payment soon. Continue reading
Keystone Pipeline Comment Deadline Ends Today
Friday, March 7th, 2014 is the deadline for the public to submit their comments for review before the U.S. government begins its final review of upper leg of the controversial Keystone XL pipeline. Continue reading
Loopholes In U.S. Oil Export Ban
The current boom in U.S. oil production has companies looking for loopholes in the 41-year-old ban on exporting crude oil. Continue reading
Has OPEC oil production peaked?
In the past when the International Energy Agency (IEA) saw a potential oil shortfall on the horizon they called on OPEC to fill the gap. Continue reading
Map: Why Ukraine Affects All Of Europe
Ukraine is strategically placed between Russia and the rest of Europe. Russia's recent invasion into the country has worried investors that gas supplies could be at risk. Continue reading
As Oil Output Grows, U.S. Considers Potential Exports
Thanks to unconventional sources like shale-oil the total U.S. oil production is poised to hit 10 million barrels a day by 2017. Lawmakers and regulators are starting to ponder the idea of actually exporting U.S. crude oil. Continue reading
Can the U.S. use natural gas to "fight" Russia?
A significant chunk of Europe depends on Russian natural gas for energy. Some U.S. politicians are suggesting that America should use its natural gas abundance to counter Russia's influence and power in Europe. Continue reading
Oil Retreats From 4-month High
Crude oil receded from a four-month high as the situation in Ukraine seemed to cool. Russian President Vladimir Putin told reporters that Russia has no immediate plans to invade (the rest of) Ukraine and they are not planning to annex the Crimea region of Ukraine. Continue reading
Are We At A Tipping Point In Energy?
There has been a lot of hype over new "unconventional" sources of oil like tar sands and shale-oil (i.e. tight oil). Unfortunately what the public does not realize is that these unconventional sources are expensive to produce. Continue reading
Ukraine-Russia Tensions Lift Oil & Gas
Crude oil and natural gas futures are rising on the geopolitical tensions between Ukraine and Russia. Continue reading
Bullish Oil Positions Hit New Highs
Hedge funds have raised their bullish bets on West Texas Intermediate (WTI) crude oil to record levels. Continue reading
Is War Brewing In Iraq?
Iraqi Prime Minister Nouri al-Maliki's feud with Iraq's Kurdish minority is quickly escalating. Continue reading
Natural Gas Inventories Are Plunging
A large chunk of the U.S. uses natural gas to heat their homes during the winter months. A colder than normal winter has demand soaring. Continue reading
A Small Step Toward Atlantic Exploration
The U.S. takes a small step forward toward exploring the Atlantic coast for oil. Continue reading
Shell Backing Away From LNG Investment
Royal Dutch Shell is a global energy company producing oil, natural gas, and NGLs. It also refines oil into gasoline, diesel, jet fuel, heating oil and more. The company has recently decided to slow down its investment in natural gas as a fuel for trucks. Continue reading
Is There A "Peak Car" Moment?
There has been significant debate on the "Peak Oil" topic. Yet how many have pondered the idea of "peak cars"? Much of the oil that is produced eventually ends up in the gas tank of a car. Continue reading
U.S. Oil Independence Will Be Expensive
Shale-oil producers are seeing their expenses rising and they're spending money faster than they make it. Continue reading
Mid East Oil Still Crucial To Meet Long-Term Demand
The growing U.S. oil-shale expansion has redefined the global energy market but Mid East oil is still the main source to meet future energy demand, especially from Asia. Continue reading
U.S. Now Requiring Tests To Carry Crude By Rail
A rise in train derailments hauling oil cargoes and the danger these accidents pose has prompted action from the U.S. government. Continue reading
Plunging Well Production Threatens U.S. Oil Boom
Oil companies are trying to work smarter instead of just harder as the U.S. shale-oil boom struggles with plunging production in maturing wells. Continue reading
Time Frame for the Keystone Pipeline?
Recent meetings with President Obama suggest a decision on the Keystone pipeline will arrive this summer. Continue reading
Arctic Oil Still Too Expensive
It is estimated that 30% of the world's natural gas and up to 13% of the world's oil supply is hidden below the Arctic Circle. Continue reading
Can Ammonia Replace Oil As Fuel?
Light Water Inc. is researching how to use ammonia as an alternative to carbon-based fuels like oil, natural gas, and coal. Continue reading
API: U.S. Imports Hit 17-Year Low
Rising domestic oil production is having an impact on U.S. oil imports. The country's pace of oil imports just hit a 17-year low. Continue reading
Oil Shale Boom: Just The First Inning
Skeptics claim that the oil-shale boom occurring in the U.S. is a bubble. Rapid production declines suggest the current surge in U.S. production has a limited time frame. ConocoPhillips CEO disagrees. Continue reading
Slowdown In China Could Impact Oil Demand
China is the world's second largest economy and could soon be the world's largest oil importer. The pace of China's economy has a big influence on crude oil prices. Continue reading
Keystone Pipeline Snagged Again
The proposed 1,180-mile Keystone XL pipeline, that has been delayed for five years, hits another snag. This time in the state of Nebraska. Continue reading
Is The Pace of Investment Unsustainable?
The pace of spending that private oil companies have invested in upstream capex is unsustainable. Recent gains in global oil production have mostly come from the U.S. hydraulic fracking and horizontal drilling renaissance. Continue reading
Tensions Rising for African Oil Producers
New violence and the threat of violence in major African oil exporters could buoy crude oil prices. Continue reading
New England Needs More Pipelines
The six U.S. states that make up the New England area (from Connecticut to Maine) are facing a potential energy crisis and the recent proposal to build a new publicly funded gas pipeline is not big enough to solve the problem. Continue reading
Oil Transport Routes Getting Longer
The U.S. oil-shale boom could be impacting the oil shipping industry. As America produces more domestic energy its need to import oil slowly declines... Continue reading
Big Western Oil Company Production In Decline
Total global oil production is rising, yet the biggest western oil companies are seeing their oil output decline. Continue reading
Winter Demand & Supply Outages Buoy Oil Prices
WTI crude oil futures are still trading above $100 a barrel with Brent oil futures near $109.00 a barrel on Tuesday morning. Continue reading
North Dakota Well Leaking
A Whiting Petroleum Corp oil well in North Dakota was leaking drilling fluids after a blowout late on Thursday, officials said. Continue reading
Iranian Exports Jump
Exports of Iranian crude have soared as economic sanctions ease. Continue reading
WTI Settles Above $100
WTI settled above $100 for a fourth day this week on better-than-expected U.S. consumer confidence. Continue reading
China: Energy Strategy Questioned By Researcher
China needs to rethink its energy strategy or it could be vulnerable to geopolitical dangers that add risk to rising oil imports. Continue reading
Cold Weather Impacts The Economy
The extremely cold weather is having a mixed influence on energy consumption. Demand for distillates... Continue reading
Global Oil Supplies Face Uncertainty
The EIA says that short term oil supplies face uncertainties due to unplanned global disruptions and unknown US growth. Continue reading
WTI Slips On Supply Speculation
WTI hovers near $100 on supply recovery speculation. Continue reading
Seasonal Shutdowns To Boost Gas Margins
Refiners could see their margins on producing gasoline more than double this spring. According to AAA the price of gasoline has risen in March four out of the last five years Continue reading
Oil Prices Rise On Stronger Chinese Demand
Crude oil futures were rising on Wednesday morning following stronger than expected economic data out of China. WTI crude oil was up above $100 a barrel while Brent crude futures were at $108.85. Continue reading
OPEC Predicts Stronger Demand
OPEC says world oil demand will pick up in 2014 as economic recovery takes hold. Continue reading
One Missing After Blast
One person is missing after an explosion at a Chevron gas well. Continue reading
Keystone Approval Predicted
Canada's prime minister remains relatively unperturbed about the drawn-out Keystone XL pipeline review, maintaining its approval is "inevitable." Continue reading
WTI Near Six Week High
West Texas Intermediate traded near a six week high on forecasts that U.S. distillate stockpiles shrank as colder weather boosted demand for heating fuels. Continue reading
AAA Says Gas Prices Poised To Rise
AAA is warning drivers that gasoline prices are poised to rise this spring. The unusually cold winter has reduced demand, which has allowed prices at the pump to drift lower. Continue reading
Peak Oil Isn't Dead
The peak oil issue is not dead. The current fracking boom in the U.S. is not having a big impact global oil production. What happens when the declining oil production in mature oil fields overtakes our ability to find and develop new fields? Continue reading
Hedge Funds Boost Diesel Bets
Hedge funds are the most bullish on diesel in almost five months as the cold weather boosted demand and cut U.S. supply to the lowest in a decade. Continue reading
PetroChina Makes Huge Gas Discovery
PetroChina made a huge new gas discovery in the Sichuan basin. Continue reading
Iran's Nuclear Program Back In The Spotlight
According to the Islamic Republic News Agency (IRNA) the government of Iran has resumed talks with the International Atomic Energy Agency (IAEA), Continue reading
Keystone Pipeline Pressures Mount
The Keystone XL Pipeline remains a hot topic following the January 31st report from the U.S. State Department suggesting the environmental impact of the proposed pipeline would be smaller than previously feared. Continue reading
U.S. Orders Pipeline To Prioritize Propane
A colder than normal winter is fueling big demand for propane as consumers try to keep their homes warm. The Federal government is using its emergency powers to try and alleviate the skyrocketing cost of propane in the Midwest and Northeast. Continue reading
Magnolia Expects Strong Growth
Magnolia Petroleum said that it expects strong production growth in 2014 as drilling activity increases on its already-producing US leases. Continue reading
Oil Crosses $100
The price of oil briefly rose above $100 a barrel for the first time this year on rising demand for fuel. Continue reading
California Gas Shortage
Water isn't the only resource running short in California, the drought-stricken state is also low on natural gas. Continue reading
Tensions Rise In Iraq
As Iraqi Kurdistan exports oil northward to Turkey through its own pipeline a collision between Iraq's central government and the semiautonomous Kurds increases. Continue reading
Gas At Five Week High
Gasoline climbed to a five-week high as an Energy Information Administration report showed stockpiles rose less than expected after winter weather swept the Northeast last week.

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Oman Seeks To Disarm Iran's Oil Threat
Iran has threatened to shut down the Strait of Hormuz for years as it argues with Western powers over the country's nuclear program. The country of Oman plans to take the bite out of Iran's bark with a new railroad. Continue reading
Marathon Oil Misses Estimates
Houston-based Marathon Oil Corp. (symbol: MRO) reported earnings on February 5th that missed Wall Street estimates. MRO reported a net profit of 60 cents a share versus the 76-cent estimate and down significantly from the 87 cents MRO earned in the third quarter of 2013. Continue reading
Oil Impacts The Future Of Food
The world population is estimated to hit 8 billion people by early 2024, just ten years away. Research suggests that growing enough food may not be as big a problem as distributing the food to where it's needed. Continue reading
Venezuela Slips Closer To The Brink
Falling oil exports to the U.S. are pushing Venezuela ever closer to an economic black hole. Continue reading
Midterm Election Politics Fueling Pipeline Momentum
A handful of Senate Democrats are pressuring President Obama to approve the Keystone XL pipeline. The 2014 midterm elections are going to be challenging and vulnerable democrats... Continue reading
Cold Winter Temperatures Keep Oil Prices Stable
Normally concerns over disappointing economic data in the U.S. and worries that the Chinese economy is slowing down would pressure oil prices lower. Yet oil futures are holding thanks to freezing winter temperatures. Continue reading
Ukraine, Chevron To Enter Deal
Ukraine and Chevron will sign an operational agreement in March that should see the US major start work on shale gas extraction in the country. Continue reading
Anadarko Boosts Output
Anadarko Petroleum's US onshore oil production was up 25% in 2013 over 2012 due to "record production" in several major growth plays. Continue reading
Gas Leak In Gulf Of Mexico
The U.S. Bureau of Safety and Environmental Enforcement said a gas leak was stopped in the Gulf of Mexico but work was needed to prevent more gas from leaking. Continue reading
Exxon Expands Shale Acreage
ExxonMobil expanded its Permian acreage and makes plans to enter the Utica through its subsidiary, XTO. Continue reading
BP Profit Falls
BP profits falls as output declines and margins weaken. Continue reading
Iranian Oil Could Take Years To Return
Iran could start exporting an additional 200,000 to 300,000 barrels of oil a day thanks to the interim deal negotiated with the West last November. Yet a return to its full potential could take years. Continue reading
WTI Oil Hits 4-Week High On Winter Chill
West Texas Intermediate oil futures rose to four week highs as chilling winter temperatures drives demand for heating oil. Continue reading
Exxon Profit Tumbles
Exxon Mobil Corp posted lower-than-expected quarterly profit as it failed to offset declining production while spending heavily to find fresh reserves. Continue reading
Keystone Report Could Disappoint Foes
Keystone Pipeline Report is rumored to be a disappointment for opposition to the project. Continue reading
Pemex Finds Deepwater Crude
Mexico's state-run oil company Pemex has found light crude at its deep water Exploratus-1 well in the Perdido Fold Belt in the Gulf of Mexico. Continue reading
OMV Upbeat On Libya
Austrian energy company OMV said oil production from Libya should be in line with its annual outlook. Continue reading
OPEC Trims Shipments
OPEC will reduce shipments through mid-February as western demand falls with the end of winter in the northern hemisphere. Continue reading
Shell To Sell Ho Ho Pipeline
Royal Dutch Shell PLC is seeking to sell a stake in its Houston-to-Houma crude oil pipeline. Continue reading
Shell Sells Brazil Field
Royal Dutch Shell sold part of its stake in an oilfield off Brazil to Qatar Petroleum International Ltd. for about $1 billion. Continue reading
Argentina's Shale Lures Big Oil
Big oil companies are lining up to tap into Argentina's shale potential. Continue reading
Iraq Improves Basra Refinery
Iraq is nearing start-up of a gasoline-producing unit that will boost overall processing capacity. Continue reading
Oryx Encouraged By Kurdish Oil
Third party survey puts reserves at 102 million barrels. Continue reading
Alaska Drilling Challenged By Court
Federal appeals court rulings revive a challenge to off-shore drilling in parts of Alaska. Continue reading
Texas Residents Worry Over Seismic Events
North Texas residents worry storage of fracking waste water is connected to seismic events. Continue reading
Australia Next Shale Boom
A welcoming government and widespread deposits position Australia for a shale boom. Continue reading
Chinese Imports Rise
Total Chinese imports of oil from Kazakhastan hit a record high in 2013. Continue reading
Abbas Seeks Russian Deal
Abbas seeks a deal with Russia's Gazprom for Gaza fields. Continue reading
More Oil Expected From Kazakhstan
The Kazakh government said it expects to see a modest increase in oil production this year to 608 million barrels of oil, compared to the 600 million barrels produced last year. Continue reading
Russia Keeps Output Stable
Russia is seen as the next to benefit from the shale oil boom. Continue reading
CNOOC Lowers 2014 Target
Cnooc Sets 2014 Output Target Lower Than Five-Year Goal. Continue reading
Egyptian Refining Advances Upgrades
Egyptian Refining Co. is set to start construction on its long-delayed grassroots refining upgrade project. Continue reading
IEA Sees Increased Demand
The IEA says global consumption will grow 1.4% on improvements in developed nations. Continue reading
BNK Upbeat About Polish Shale
BNK Petroleum said it was upbeat about the shale potential in Poland following the start of a drilling. Continue reading
Shell Profits Fall
Royal Dutch Shell Plc surprised investors with an early report that said profit plunged because of deteriorating refining markets and mounting losses in the Americas. Continue reading
Japan LNG Use Hits Record
Use of LNG by Japanese power plants hit a record high in December. Continue reading
Russia Enters Deal For Syrian Gas
Syria's new 25-year energy deal with Russia could open the way for Moscow's eventual move into the gas-rich eastern Mediterranean. Continue reading
North America Offset OPEC Decline
OPEC said production from member states was down 20,000 barrels per day last month, a level offset partially by North America. Continue reading
Libyan Production Rises
Libyan oil production has risen to 600,000-650,000 b/d from 546,108 b/d in early January, the Minister of Oil and Gas Abdulbari Arousi said. Continue reading
Peak Oil Is Real
New research suggests that peak oil is here. Continue reading
India Plans To Cut Iranian Imports
India will lower its imports of crude from Iran by more 15% or more. Continue reading
Iran Progress Could Curb New Sanctions
Iran deal progress dampens push for new U.S. sanctions bill. Continue reading
Oil Price Forecast Cut
Deutsche Bank AG reduced its price forecasts for Brent and West Texas Intermediate crude this year. Continue reading
Weather Impacts Conoco Production
ConocoPhillips said recent production levels were lower because of extreme weather in the United States and the North Sea but no long-term impact was expected. Continue reading
U.S. To Export LNG By 2016
A report shows that the U.S. will become a net exporter of LNG by 2016. Continue reading
China Crude Imports Rise
China boosted net crude imports to a record high last month as two new refineries prepared to begin operations. Continue reading
Gazprom Makes Iraqi Breakthrough
Russian energy company Gazprom Neft said Thursday its first volumes of oil were produced from the Badra field near the eastern Iraqi border with Iran. Continue reading
President Orders Energy System Review
President Barack Obama ordered a broad review of the country's energy infrastructure. Continue reading
Kashigan Project A Nightmare
The Kashigan Oil Feild project has become a bureaucratic nightmare as the troubled facility struggles to come online. Continue reading
Iraqi Unrest Raises Supply Fears
Al-Queada and Iraqi forces clash in Anbar, raising fear of supply disruptions. Continue reading
India Urges Unity For LNG Pricing
Indian Prime Minister Manmohan Singh urged Asian buyers of imported liquefied natural gas to unite in a demand for fair pricing.

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Icy Weather Threatens Output
Severe cold weather could disrupt oil production from Texas to North Dakota. Continue reading
Sharara Production Resumes
Oil production at Libya's Sharara field resumes after months of political unrest. Continue reading
OPEC Output At 2 Year Low
A Bloomberg survey showed OPEC crude production dropped to the lowest level in more than two years in December, led by a decline in Venezuelan output. Continue reading
Reliance Set To Up Output
Reliance Industries will add about 1-3 million standard cubic meters per day of gas production at its eastern offshore KG-D6 fields this month. Continue reading
Bakken Oil Extra Flammable
Shares of top Bakken oil producers plunged on warnings that Bakken oil was "extra" flammable. Continue reading
Kurdish Oil Fills New Pipeline
Crude oil from Iraqi Kurdistan has started flowing via a new pipeline to the Turkish Mediterranean export hub of Ceyhan. Continue reading
Libya To Reopen Some Capacity
Libya hopes to resume production at one of its largest oilfields, El Sharara, within three days after protesters agreed to suspend their two-month stoppage. Continue reading
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