Ukrainian Prime Minister Arseniy Yatsenyuk said last Friday that Ukraine and Russia should implement a similar deal to the one reached last winter for the coming months, reports the Associated Press…
Iraq’s northern Kurdish region announced that it will start making regular payments for crude exports to producers starting in the first-half of September. Exporters will receive $75-$100 million in …
The U.S. crude oil benchmark West Texas Intermediate closed today 10.3% higher at $42.56 per barrel. In percentage terms, that is the largest gain seen in WTI prices in one …
In November 2014, OPEC, led by its largest producer Saudi Arabia, decided to cast off its traditional role as swing producer in the global oil market. The decision sent oil …
The Quebec government yesterday approved the Stolt LNGaz natural gas liquefaction plant in Becancour, Quebec. The LNG project will produce 500,000 tons of LNG to be distributed to customers …
Australia’s Clean Energy Finance Corporation (CEFC) received a directive from the Australian government to stop investing in future wind power projects. Australian Prime Minister …
China’s Shanghai Composite index saw the single largest one-day percentage loss since 2007 earlier today, shedding 8.5% of its value. Even as Chinese authorities allowed pension funds managed by local governments to invest …
The United States will start to export light crude oil to Mexico as part of a crude oil swap, leading the U.S. another step closer to lifting the ban on exporting crude oil. The …
Chairman of Iran’s oil contracts restricting committee Mehdi Hosseini said that Iran has selected 45 oil and gas projects to show international companies at a conference that will be in London in December 14-16. Hosseini said that Iran would present …
Concerns over China’s financial situation continued this week as the country’s central bank pushed the value of the yuan (or renminbi) lower for three consecutive days. Moves by the People’s Bank of China, …
Yesterday, Japan restarted the Kyushu Electric Power Company’s 846 megawatt (MW) Sendai Nuclear Power Station Unit 1, marking the first reactivation of a nuclear power plant in Japan …
A recent note from Wells Fargo Equity Research highlights the continued unresponsiveness of production in the face of low oil prices, but the analysts say they expect the market to rebalance in 2016. …
Even OPEC has been feeling the pressure of low oil prices brought on by the decision to maintain production in November of last year. The organization released its monthly Oil Market Report (OMR) for …
China’s Ministry of Commerce announced today that it will grant licenses to two independent refineries to directly import crude oil as the country works to allow more room for independent players in …
The U.S. expanded its sanctions against Russia today, announcing that it would be adding the Yuzhno-Kirinskoye Field in the Sea of Okhotsk, to the Entity List maintatined in the Export Administration …
Senator Chuck Schumer (D-NY), the most influential Jewish voice in Congress, announced Thursday that he would oppose the Iran nuclear deal. Schumer is the ranking member on the Committee on Rules and Administration, …
Oil prices have been beaten down enough.
“Notorious” is an accurate descriptor of the oil and gas industry. When business …
While the United States became the world’s largest producer of hydrocarbons in 2014, Russia remained the largest producer of crude oil and lease condensate, according to the U.S. Energy Information Administration (EIA). …
U.S. District Judge Edgardo Ramos in Manhattan dismissed claims against Chinese oil giant PetroChina (ticker: PTR) regarding declines in the company’s share price after company officials were included in an anti-graft probe …
The second quarter has been tough for international oil majors like ExxonMobil (ticker: XOM), Chevron (ticker: CVX) and Royal …
Algeria’s national oil and gas company, Sonatrach, plans to spend $64 billion, or 70% of its total investment program from 2015 to 2018, in upstream activities …
Managing Director of the Iranian Gas Engineering and Development Company Alireza Gharibi said the company finished testing 100 kilometers (about 62 miles) of pipeline …
OPEC Secretary General Abdalla Salem El-Badri said the organization does not expect prices to fall any lower as demand picks up in 2016 and continues to grow through the end of the decade. “The …
The United Arab Emirates (U.A.E.) will become the first country in the Persian Gulf to remove fuel subsidies. The move will increase unleaded gasoline prices 24% next …
A sanctions regime was put in place against Iran starting in 2005 when the international community found that the Middle Eastern country was not in compliance with its obligations …
The front month West Texas Intermediate contract is up $1.25 from yesterday’s close of $47.98 per barrel. The 2.3% increase in WTI front month contracts marked the first time …
Norway’s Statoil (ticker: STO) announced its 2/4-23S well (Julius) discovered gas and condensate in the Ula formation, offshore Norway in the North Sea, southeast of Stavanger. STO estimates …
Saudi Basic Industries Corp. (ticker: TADAWUL:2010), or Sabic, plans to expand investment in U.S. shale gas projects through joint ventures, according …
Alexander Novak, the Energy Minister of the Russian Federation, came out in favor of continuing Gazprom’s monopoly of exporting pipeline natural gas on July 28, reports Russian news agency Tass. “We are …
