14/03/2014
By Energy Live News The price of oil from the Organisation of Petroleum Exporting Countries (OPEC) inched above $105 per barrel over February. Though it had subsided to $103.75 a barrel by Wednesday (12 March), OPEC’s reference basket last ..
14/03/2014
By Manufacturing Headlines and News OMAHA, Neb. (AP) -- The number of carloads of crude oil U.S. railroads delivered last year surged 83 percent over 2012 as concerns about the shipments grow. The Association of American Railroads said Thursd..
13/03/2014
Benefit From the Latest Energy Trends and Investment Opportunities before the mainstream media and investing public are aware they even exist. The Free Oilprice.com Energy Intelligence Report gives you this and much more. Click here to find out more...
13/03/2014
SEOUL, March 12 (Xinhua) -- South Korea planned to build large- sized oil storage facilities to become an oil hub in the Northeast Asian region amid growing demand for such facilities, the commerce ministry said Wednesday. The country's commercial o..
13/03/2014
U.S. crude oil stocks surged 6.2 million barrels the week ended March 7 on a cut in U.S. refinery utilization rates and an increase in oil imports, according to data released Wednesday by the U.S. Energy Information Administration (EIA). U.S. crude ..
13/03/2014
The prospect of a deal between Libya’s eastern rebels and the central government is diminishing after the breakaway region shipped its first cargo of crude oil. A North Korean-flagged tanker left Es Sider, the largest oil-export terminal, yest..
13/03/2014
By Osamu Tsukimori Japan’s top refiners are aiming to increase oil product exports a second year in a row to offset weakening domestic demand, an aggressive move that threatens to pressure Asian fuel prices and further undercut regional refini..
13/03/2014
OPEC bolstered forecasts for the amount of crude it will need to provide this year as the economic recovery stokes global fuel consumption. Iraq, its second-largest member, pumped the most oil since 1980. The Organization of Petroleum Exporting Coun..
12/03/2014
By Dow Jones Business News NEW YORK--U.S. oil production will grow slightly less than previously expected this year and next, while consumption will remain steady in 2014 and expand in 2015, government forecasters said Tuesday. This prediction mode..
12/03/2014
SOFIA – Anadolu Agency The planned pipeline between Bulgaria and Turkey will be approximately 114 kilometers in length and is due to be completed in two years. The planned pipeline between Bulgaria and Turkey will be approximately 114 kilome..
11/03/2014
US commercial crude stocks are expected to have risen 2.3 million barrels for the week ended March 7, according to a Platts analysis and survey of oil analysts Monday. The American Petroleum Institute will release its weekly report at 4:30 pm EDT (2..
11/03/2014
By Joao Peixe | Mon, 10 March 2014 21:57 | 0 Crude oil futures declined on new data from China showing that exports dropped by more than expected, providing fresh evidence of a slowdown in the Chinese economy. For April delivery, NYMEX oil dropped ..
11/03/2014
Platts Survey: OPEC Pumps 30.11 Million Barrels of Crude Oil Per Day in February Up 240,000 b/d from January, Driven by Surge in Iraqi Oil Exports London - March 7, 2014 Crude oil production from the Organization of the Petroleum Expor..
10/03/2014
The volume of exports to the U.S. Gulf in 2013 coming from Canada’s oil sands fell far short of original estimates. The oil industry projected that about 200,000 barrels per day (bpd) of oil from Canada’s oil sands provinces would reach G..
10/03/2014
DIRECTING natural gas from the European Union to Ukraine if Russia stops supplying its western neighbour would fail to keep up with demand for long as supply capacity between the EU and Ukraine is too small, analysts say Ukraine last year ..
10/03/2014
All Italian oil refineries, even the most efficient or most technologically advanced, risk closure amid narrowing margins and greater international competition that has eroded output by 24% since 2008, the president of Unione Petrolifera, Italy's pri..
10/03/2014
BP is moving to export crude oil from the United States, but doing so in a way that avoids violating the export ban. It has agreed to take 80% of the capacity coming from a small refinery under construction in Houston. The $360 millio..
07/03/2014
KARACHI: The country’s oil product sales stood at 13.7 million tons in the eight months of FY14, ended February 28 against 12.6 million tons in the same period of the last fiscal year, showing a growth of nine percent, the latest provisional nu..
07/03/2014
Iran will soon receive a second installment of previously frozen assets that are being returned under an interim nuclear agreement with world powers, the official IRNA News Agency quoted Iran's central bank chief as saying. The official, Valiol..
07/03/2014
The violence in Anbar province over the last few months has largely gone unnoticed in Iraq’s huge southern oil fields, where BP and ExxonMobil are hoping to boost production. In February, Iraq’s oil sales reached 2.8 million barrels per d..
06/03/2014
U.S. crude oil stocks rose 1.4 million barrels the week ended February 28 as refiners cut run rates and imports pushed higher, data from the U.S. Energy Information Administration (EIA) showed Wednesday. Analysts polled by Platts were anticipating a..
06/03/2014
ExxonMobil sees upstream growth flat in 2014 at 4 million b/d of oil equivalent, then growing 2-3% between 2015 and 2017, according to slides presented Wednesday at the company's annual analyst meeting from the New York Stock Exchange. The company's..
06/03/2014
Japan made a second payment to Iran for crude imports under an interim nuclear deal on Wednesday, diplomatic sources told Reuters, as the West eases a year-long stranglehold on revenues that has crippled the Iranian economy. Japan, which became the ..
06/03/2014
(AGI) Houston, Mar 5 -There are grounds for optimism about Libya's oil production capacity even if the transition will take time after Muammar Gaddafi systematically destroyed all the Country's institutions, said Paolo Scaroni, the CEO of Italian ene..
05/03/2014
The U.S. Energy Information Administration is “quite prepared” to review how American exports of crude oil would affect global markets as domestic production is expected to reach about 10 million barrels a day by 2017, age..
05/03/2014
Northern Uganda’s return to peace following a 20-year rebellion byJoseph Kony’s Lord’s Resistance Army is spurring investment in oil exploration, electricity production and railways. The region, where 46 percent of th..
05/03/2014
Kazakhstan to cover need for light oil products by 2022 ASTANA. KAZINFORM - Kazakhstan is expected to fully cover the need for light oil products by 2022, CEO of KazMunayGas JSC Mr. Sauat Mynbayev has announced today...
05/03/2014
TOKYO, March 4 (KUNA) -- China National Offshore Oil Corp (CNOOC), the country's largest offshore oil and gas developer, has become the first Chinese firm licensed to look for oil in the Arctic, a landmark step for overseas energy exploration f..
05/03/2014
Venezuela's struggle is widely misrepresented in western media. This is a classic conflict between right and left, rich and poor The current protests in Venezuela are reminiscent of another historical moment when street protests were used..
05/03/2014
LONDON — BP lost more than $1bn on its investment in OAO Rosneft overnight, highlighting how its relationship with Russia’s state oil company may become awkward as the crisis in Ukraine develops. Rosneft dropped 8.6% on Monday ..
05/03/2014
BRUSSELS, March 4 (Xinhua) -- The European Union (EU) has no reason to be concerned over gas supplies due to the Ukraine crisis so far, an EU official said after Tuesday's EU energy ministers' meeting. Greek Environment Minister Yannis Mania..
05/03/2014
While most attention has been focused on Nat Gas, BofA notes that Russia is unlikely to unilaterally curtail its oil exports. However, Russian oil does indeed flow in large quantities through the Black Sea, making the Russian Navy station of Sev..
05/03/2014
Moscow’s aggression in Crimea has markets in a panic and bulls predicting continued increases in the price of oil should tensions endure. Nonetheless, there is a chance that Russia’s Ukrainian incursion could result in..
04/03/2014
South Korean refiners are set to import about a quarter more Iraqi term crude this year, industry sources said, as oil from other Middle Eastern suppliers is squeezed out by higher pricing or limits on Iranian supply due to sanctions. Despite co..
04/03/2014
Opec's oil output has risen further in February from December's two-and-half-year low, due to more shipments from Iraq and Angola, and further upward creep in Iranian exports, a survey found. Output from the Organisation of the Petroleum Exporti..
04/03/2014
A few eye-popping numbers were in the EIA monthly report on US oil use in December. It shows the shale gale in full bloom. US total net imports were 5.057 million b/d. That’s down about 1 million b/d from a year ago. It’s down about 3.4 ..
04/03/2014
KHARTOUM, March 2 (Xinhua) -- South Sudan's oil production has dropped by nearly 30 percent since mid-December last year, due to the fighting between government forces and rebels loyal to former Vice-President Riek Machar, officials said on Sunday. ..
03/03/2014
Oil production from OPEC dropped to its lowest level in 2 ½ years according to a Bloomberg survey. Production dropped by 11,000 barrels per day from January to February, down to an average of 29.877 million barrels per day. OPEC’s produc..
03/03/2014
On 20 February, Chinese President Xi Jinping, hosting Senegalese visiting President Macky Sall in Beijing said, "In 2013, Chinese-African trade surpassed $200 billion for the first time, making China Africa's biggest trading partner. That all stands ..
03/03/2014
Monday, lifted by rising tension in Ukraine after Russian President Vladimir Putin declared he had the right to invade his neighbour. Russia is the world's biggest oil producer and Ukrainian Prime Minister Arseny Yatseniuk said Moscow's move to use ..
03/03/2014
KHARTOUM: Fighting in South Sudan has cut production from the country’s lifeline oil fields by about 29 percent, the press secretary to President Salva Kiir said in Khartoum Sunday. “South Sudan is still getting more than 175,000 barrels..
03/03/2014
MOSCOW: Russian oil production fell to 10.58 million barrels per day in February from 10.62 million barrels per day a month earlier, Energy Ministry data showed on Sunday. In tonnes, Russian oil output reached 40.407 million in February, versus 44.9..
03/03/2014
TOKYO, 2nd March, 2014 (WAM) -- Japan's imports of oil from the U.A.E. reached 41 million barrels during January, which represents 20.5 % of total Japanese oil imports. The Agency of Energy and Natural Resources, affiliated to the Japanese..
03/03/2014
LONDON: Opec's oil output has risen further in February from December's two-and-half-year low, due to more shipments from Iraq and Angola, and further upward creep in Iranian exports, a survey found yesterday. Output from the Organisation of the..
27/02/2014
The low level of exploration is being described as a big challenge Britain's oil and gas industry has warned it faces its "biggest challenge in 50 years" due to the low levels of exploration. Industry body Oil and Gas UK said only 15 wells were dri..
27/02/2014
Angolan state oil firm Sonangol has decided to exit Iraq due to security problems in a conflict region where it has operated two fields, a board member said on Tuesday. Sonangol in 2009 won the right to operate the Qayara and Najmah oilfields in..
27/02/2014
LONDON (Reuters) - Oil fell on Tuesday, weighed down by forecasts of rising U.S. crude inventories as icy weather eases, but persistent outages in Libya and other exporters underpinned global prices. An easing of the severe chill over the United Sta..
27/02/2014
US-owned Murphy Oil has revealed it is progressing the sale of its oil refinery at Milford Haven amid reports the plant could be closed. The site employs 400 staff and has been on the market for the past three years but has failed to attract a buyer..
27/02/2014
Baku-APA. EU sanctions on Syria have not only affected the Syrian government, but also backfired and undermined European companies, Syrian authorities said, as various reports continue to suggest that the country's oil output has dived, leading..
27/02/2014
Clashes that erupted in South Sudan’s oil-rich Upper Nile state last week pose “no imminent threat” to crude production and output is progressing normally, the Petroleum Ministry said. Dar Petroleum Operating Co. is pumping 165..
26/02/2014
West Texas Intermediate crude fell the most in three weeks on projections that U.S. supplies rose and concern that the weakening Chinese yuan will hurt growth in the second-biggest oil-consuming country. Brent also dropped. Futures in New York t..
26/02/2014
The federal government cracked down on crude by rail Tuesday with an emergency order that requires testing of all crude oil from the Bakken Shale. Also, crude oil can no longer be transported in the lowest grade of oil tanker car. The order goes..
26/02/2014
New data from the Energy Information Administration illustrates the improving trade picture for the United States due to a rapid increase in oil production. Rising production, flat demand, and increasing exports of refined petroleum products reduced ..
26/02/2014
Vnezuela, Latin America's biggest exporter of crude oil, with some of the world's largest petroleum reserves, is facing its biggest anti-government protests in a decade. As many as 13 people have been killed, 150 injured and 500 arrested in the unres..
26/02/2014
Petroleo Brasileiro SA (PETR4), the world’s biggest oil producer in deep waters, said fourth-quarter profit dropped 19 percent, less than analysts expected, after higher fuel prices reduced refining losses. Net income slid to 6.28 billion ..
25/02/2014
Natural gas is flared near an electric pumping unit at a crude oil well site outside... Read More Natural gas futures tumbled the most in six years in New York as meteorologists predicted milder weather that would reduce demand for the heating fuel ..
25/02/2014
West Texas Intermediate crude rose for the first time in three days on speculation that inventories at Cushing, Oklahoma, fell last week. The price of Brent gained. WTI settled above $100 a barrel for an eighth day. Supplies at the futures&rsquo..
24/02/2014
BAGHDAD: Iraq is regarded the seventh world country to have fossil energy (oil, gas and coal), according to a survey made by Business Insider. The first country was Russia, to be followed by Iran, Saudi Arabia, Venezuela, and USA. Iraqi..
24/02/2014
Some Libyan government ministries are struggling to cover expenditures because of budget problems, a minister said on Sunday after protesters shut down another vital oilfield in the Opec producer. In the latest sign of turmoil gripping L..
24/02/2014
Some Libyan government ministries are struggling to cover expenditures because of budget problems, a minister said on Sunday after protesters shut down another vital oilfield in the Opec producer. In the latest sign of turmoil gripping Libya sin..