05/11/2014
Oil Import Decline to U.S. Revealed by Louisiana as Truth Things are slowing down at the U.S.’s largest oil-import hub. Just six years after importing more than 1 million barrels a day from countries including Saudi Arabia, Nigeria and Iraq, ..
04/11/2014
Petrobras Said to Seek Resolution in Dismissal Standoff Petroleo Brasileiro SA (PETR4)’s board will resume talks tomorrow over a demand from the oil producer’s auditor to remove a top executive cited in a corruption investigation, said t..
03/11/2014
Gasoline at $3 Even Has Store Managers Filling Up The first thing Kathy Parker did when she showed up for work at a Michigan gas station two days ago was change the price of gasoline displayed outside the shop to $2.99 a gallon from $3.04. The seco..
31/10/2014
Noble gas output from Israel up 21 percent HOUSTON, Oct. 28 (UPI) -- Energy explorer Noble Energy said Tuesday production during the third quarter soared because of advancements off the coast of Israel. Noble, a partner in the development of the Ta..
24/10/2014
U.S. gas prices will not rise on lifting crude export ban - study Oct 23 (Reuters) - A highly anticipated study by the U.S. Energy Information Administration will show that domestic oil prices will not rise if the U.S. ban on oil exports is lifted, ..
23/10/2014
Total Appoints Pouyanne as CEO; Desmarest as Chairman Total SA (FP) appointed Patrick Pouyanne as chief executive officer, succeeding Christophe de Margerie who was killed in a plane crash this week. Pouyanne, 51, the company’s refining chi..
22/10/2014
Brent, WTI both posting gains By UPI NEW YORK, Oct. 21 (UPI) -- Brent and West Texas Intermediate for November delivery both showed gains in trading Tuesday, with Brent showing sustained growth from an earlier session. Brent for November del..
21/10/2014
WTI Crude Oil Seen Supported Near $75 a Barrel West Texas Intermediate crude oil will find support around $75 a barrel should it break through $80 on a sustained basis, according to Auerbach Grayson & Co. “We’re still keeping an e..
20/10/2014
EU examines risks of Russian gas shortage BRUSSELS, Oct. 17 (UPI) -- If members of the European Union show some solidarity, they'll be able to cope with a potential Russian gas shortage, the European energy commissioner said. The European Commiss..
17/10/2014
U.S. Imports of Saudi Crude Rebound From Four-Year Low By Mark Shenk Oct 17, 2014 3:55 AM GMT+0700 0 Comments Email Print U.S. crude oil imports from Saudi Arabia rebounded last week from the lowest level in more than ..
16/10/2014
Cheapest OPEC Crude Since ’09 Still Too Costly for India OPEC must keep cutting prices to displace competing supplies from Latin America and West Africa, Indian refiners said. Saudi Arabia, Iran and Iraq, which account for about half th..
15/10/2014
New York Gets Frigid Winter Warning From Siberia Snowfall The snow in Siberia is piling up, and if it keeps coming, people in New York may have to bundle up this winter. There’s a theory that the amount of snow covering Eurasia in October is ..
14/10/2014
IEA: Angola Set to Overtake Nigeria as Africa's Largest Oil Producer By Sarah Kent LONDON--Nigeria is set to lose its crown as Africa's largest oil producer, at least temporarily, in large part due to oil theft and governance issues, the Internatio..
13/10/2014
U.S. Gasoline Falls to Lowest Since November, Lundberg Says The average price of regular gasoline at U.S. pumps slid to the lowest level in more than 10 months, dropping 11.64 cents in the three weeks ended Oct. 10 to $3.2577 a gallon, accordi..
10/10/2014
Exxon Wins $1.6 Billion Settlement for Venezuela Seizure Exxon Mobil Corp. (XOM) was awarded a $1.6 billion judgment by an international arbitration panel for assets seized by Venezuela’s government in 2007, a fraction of what the crude prod..
09/10/2014
Canadian crude oil exports to the U.S. topped 3 million barrels per day for first time http://wpmedia.business.financialpost.com/2014/10/oil-exports.jpg?w=620 Canada is home to Alberta’s oil sands and has the world’s third-largest crude..
08/10/2014
Narrow Price Gap Opens Door for African Oil Exports to U.S. East Oil traders are boosting shipments of Mediterranean and West African crude to the U.S. East Coast as the narrowest gap in more than a year between U.S. and international prices..
07/10/2014
U.S. Aids Ukraine on Heat Plan as EU Warns on Winter By Mark Drajem and Jonathan Stearns Oct 7, 2014 5:00 AM GMT+0700 The U.S. is helping Ukraine (UADPRYOY) plan how to keep homes and businesses heated during the winter months while the European Un..
06/10/2014
Tumbling Oil Prices Punish Hedge Funds Betting on Gains Hedge funds increased bets on rising oil prices just before crude futures tumbled to a 17-month low on signs that global supply is outstripping demand. Prices capped the biggest weekly decline..
03/10/2014
Refiners Seek to Debunk Case for Ending Oil-Export Ban A group of refiners that support a four-decade-old ban on oil exports today sought to debunk a key argument of opponents: that the U.S. can’t process all the light sweet crude being ..
02/10/2014
Rouhani: Iran will not replace Russian gas export to Europe Wednesday, 01 October 2014 15:07 Iran will not export natural gas to Europe if Russia stops its exports, the country's President Hassan Rouhani said yesterday. Speak..
01/10/2014
Opec oil output hits highest since 2012 on Libya, Saudi LONDON, 1 hours, 46 minutes ago Opec's oil supply jumped to its highest in almost two years in September due to further recovery in Libya and higher output from Saudi Arabia and other Gulf pro..
30/09/2014
Rosneft announces major oil, gas discovery in Arctic Kara Sea Russia’s Rosneft has announced a major oil and gas discovery in the Arctic Kara Sea following drilling of the northernmost well in the world amid concerns that ExxonMobil&rsqu..
29/09/2014
Russian prosecutor aims to return Sistema’s shares in Bashneft to state The office of Russia’s prosecutor general aims to return Sistema’s majority stake in Russian oil producer Bashneft to federal ownership, fuelling market concer..
26/09/2014
Shell may struggle to find buyer for Nigeria Ogoni assets Shell may be selling its licenses in Ogoniland in Rivers State, Nigeria but the oil giant could struggle to offload the assets in a region where it has faced criticism for failure to ad..
25/09/2014
Suncor Looks East to Find Buyers for Western Canada Crude Western Canadian crude is heading across the Atlantic Ocean as Canada’s oil companies seek buyers outside North America. Suncor Energy Inc. (SU), the largest Canadian oil company by m..
24/09/2014
Mexico prepares for Round Zero JVs with foreign operators Mexico’s Energy Ministry (SENER) and its National Hydrocarbons Commission (CNH) are knee-deep in preparations to help state oil company Pemex team up with foreign oil companies in..
23/09/2014
OPEC Output-Target Cut Not Agreed Yet, U.A.E. Oil Minister Says By Maher Chmaytelli Sep 23, 2014 1:32 PM GMT+0700 OPEC nations have yet to decide to cut their collective oil-production target, the United Arab Emirates’ energy minister said, d..
22/09/2014
Iraqi oil production at West Qurna-1 at 360,000 bpd BASRA, 19 hours, 4 minutes ago Oil production at southern Iraq's West Qurna-1 field is running at a rate of 360,000 barrels per day (bpd) due to problems with low levels of water injection to boos..
19/09/2014
Kenya Sees Oil Resources Almost Doubling With More Drilling By David Malingha Doya Sep 18, 2014 9:33 PM GMT+0700 Kenya expects its estimate of oil resources to almost double to 1 billion barrels as well-drilling climbs and the government forges ahe..
18/09/2014
North Sea outlook depressed ahead of knife-edge referendum Scotland prepared for this week’s independence referendum with a win for the “yes” campaign spelling massive upheaval for the oil industry, but little sign a “n..
17/09/2014
Deeper Saudi Oil Cuts Seen After Biggest Drop Since ’12: Energy Saudi Arabia will need to keep cutting oil output to sustain prices above $100 a barrel, even after the kingdom’s largest reduction in two years, according to BNP Paribas SA..
16/09/2014
Egypt expects $425m from IDB for refinery, airport CAIRO, 13 hours, 52 minutes ago Egypt said it expected to receive around $425 million in funding from the Islamic Development Bank to develop an oil refinery in Assiut and an airport in the Red Sea..
15/09/2014
South Korea’s Iran oil imports double in Aug, but down for Jan-Aug Monday, 15 September 2014 11:13 Posted by Shoaib-ur-Rehman Siddiqui South Korea's imports of Iranian crude doubled in August from a year ago but fell 8 percent in the first e..
12/09/2014
Canadian Dollar Declines to Lowest in Five Months on Crude Oil By Ari Altstedter The Canadian dollar fell to the lowest level in five months as crude oil, the nation’s largest export, traded at almost its lowest point in more than a year. T..
11/09/2014
Oil refiners seek imports from outside Mideast Sept 11,2014 In the oil industry, all eyes will be on the tanker BW Zambesi this morning when the ship arrives at Yeosu Port in South Jeolla for Korea’s second-largest refiner GS Caltex. The ves..
10/09/2014
Australian LNG Contracts Under Pressure From U.S., Russia Supply By Ben Sharples Australian liquefied natural gas producers may face pressure to renegotiate long-term sales contracts amid a flood of low-cost supply into Asia, according to former B..
09/09/2014
EU officials fail to reach full agreement on new Russian sanctions EU officials have called a fresh meeting Monday on imposing new sanctions against Moscow after failing to get full agreement for the measures as expected, sources were quoted a..
05/09/2014
China’s Unipec’s ULCC hire likely to store crude in Singapore Chinese oil major Unipec has provisionally hired an ultra large crude Carrier possibly to store crude around Singapore, market participants said Thursday. The 442,000-..
03/09/2014
Russia’s Lukoil to cut 2015 investment by $2 bil on market uncertainty Russia’s second-largest oil producer, Lukoil, is aiming to reduce its investment program due to uncertainties on the capital markets, sparked by recent western sancti..
28/08/2014
Sep Basrah Light nominations up 117,000 b/d to 2.307 million b/d from Aug Basrah Light crude oil nominations, to lift in September, was put at 2.307 million b/d, up 117,000 b/d from the August nominations, according to the latest loading schedule ob..
27/08/2014
Nexen’s Buzzard temporarily restarted, demobilization of rig ongoing The UK’s Buzzard oil field in the North Sea temporarily restarted production late Monday, operator Nexen said in a statement Tuesday, before being shut down again to al..
26/08/2014
US EIA boosts estimates of Mexican long-term oil production on reform The US Energy Information Administration on Monday boosted its long-term projection of Mexican oil production by 75%, saying that reforms to the country’s energy sector wo..
25/08/2014
Hedge Fund Crude Bets Tumble Amid Surging Global Supply By Mark Shenk Aug 25, 2014 6:01 AM GMT+0700 Speculators are the least bullish on U.S. crude oil prices in 16 months as refinery maintenance weakens demand at a time when Libya and Iraq are swe..
22/08/2014
OPEC oil exports to rise by 40,000 b/d in four weeks to September 6 OPEC crude exports, excluding those from Angola and Ecuador, are expected to average 23.43 million b/d over the four weeks to September 6, up 40,000 b/d from the previous four-week ..
21/08/2014
Ghana Expects Hess Offshore Oil Field to Join Project Lineup By Ekow Dontoh Aug 20 Ghana, the nation seeking to increase its oil output fivefold in the next decade, expects an offshore development by Hess Corp. (HES) to join the nation&rsquo..
20/08/2014
Oil prices mixed in Asia Singapore - Oil prices were mixed in Asia Wednesday as investors await the release of US Federal Reserve minutes from its July meeting, while keeping an eye on the latest stockpiles data. US benchmark West Texas Interme..
19/08/2014
San Francisco Gets Fuel From Los Angeles as Gap Widens By Lynn Doan Aug 19, 2014 5:01 AM GMT+0700 Spot gasoline in San Francisco at the highest premium to Los Angeles in two weeks has opened an arbitrage for fuel to flow north. Spot California-ble..
18/08/2014
Total provisional Sep 1-6 Urals exports up 538,635 b/d on Aug at 2,225,635 b/d Loadings of Urals crude out of the Baltic Sea ports of Primorsk and Ust-Luga and the Black Sea port of Novorossiisk in the first six days of September are set to jump by ..
14/08/2014
Brazil’s oil production to reach record high in 2014 Oil and gas analysts Rystad Energy have predicted that 2014 will be a changing year for Brazil’s oil production, forecasting that it will reach a record-high of 2.2 million bpd. This..
13/08/2014
Weakest Oil Demand Growth Since ’12 Allays Supply Risk, IEA Says By Grant Smith Aug 12, 2014 3:00 PM GMT+0700 Global oil demand growth eased to its weakest since 2012 last quarter, calming world markets amid threats to supplies in the Middle ..
12/08/2014
US condensate splitter plans move forward, but uncertainty remains Pricey condensate splitter plans appear to be on track despite recent US rulings expected to create a surge in exports of condensate, which needs to be processed, but not through s..
11/08/2014
Offshore Fracking On The Rise In Gulf Of Mexico By International Business Times | Commodities | Aug 07, 2014 02:57PM GMT | 1 Comment By Maria Gallucci - Global oil and gas firms are increasingly turning to ..