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Mercuria: Record US Oil Exports Set To Surge Further
Friday, October 13, 2017 Already record US oil exports are set to surge further in the coming month.
Canadian Oil's High-Priced Run Set to End as Supply Surges
Wednesday, October 11, 2017 Canadian oil-sands producers enjoying the strongest market for heavy crude since 2008 will soon face a renewed glut.
Eni Bets Big on Zohr Explorer Finding New Treasure
Friday, October 06, 2017 The Zohr field off Egypt sits in an area that Royal Dutch Shell pored over for years.
Venezuela Confirms Discussing Citgo Collateral Swap With Rosneft
Wednesday, October 04, 2017 PDVSA is negotiating to swap Russian oil producer Rosneft's collateral in Venezuelan-owned, Citgo, adding that results are expected 'very soon.'
From Houston With Love: Asia's Bitten by US Oil Export Bug
Wednesday, September 27, 2017 As plunging regional output starves Asian oil buyers of high-quality crude, they are developing a taste for something new.
Oil Ghost Towns Dot the Landscape in Texas' Other Shale Patch
Tuesday, September 26, 2017 If Texas' Permian Basin is Exhibit A for the US oil boom that refuses to die, then the Eagle Ford represents all those places that have been left behind.
Boston Energy Research: Oil Price Outlook Unchanged
Monday, September 25, 2017 The outlook for oil prices has not changed much in recent weeks.
US Not Ruling Out Possible Oil Embargo on Venezuela -Haley
Friday, September 22, 2017 "There's a lot of support in Latin America to see Venezuela start to respect its people and go back to the democracy it's supposed to be," said UN Ambassador Nikki Haley.
Europe Diesel Exports Hit Record as Harvey Redraws Trade
Friday, September 22, 2017 Traders expect the European exports to continue for several more weeks.
OPEC Says Winning Battle To Curb Oil Glut
Friday, September 22, 2017 Output cuts by OPEC and other oil producers are clearing a supply glut that has weighed on crude prices for three years, ministers said at a Friday meeting.
Venezuelans Face Growing Queues To Buy Gasoline
Thursday, September 21, 2017 Venezuelan drivers are facing growing queues to buy gasoline despite having the world's largest oil reserves.
Stormy Weather Exposes Shortcomings Of World's Oil Refineries
Thursday, September 21, 2017 Harvey's crippling impact on US oil refinery operations and the challenge buyers faced in filling the gap in gasoline supplies has exposed a shortage of spare refining capacity around the globe.
Dominican Republic Shuts Most Ports Ahead Of Hurricane Maria
Wednesday, September 20, 2017 Dominican Republic closed most of its ports ahead of Hurricane Maria, the government says.
Caribbean Oil Terminals Make Preparations Ahead Of Hurricane Maria
Tuesday, September 19, 2017 Several Caribbean oil storage terminals that temporarily closed ahead of Hurricane Irma earlier this month have started making preparations in case they have to shut again.
Iraq Says OPEC Mulls Deeper, Longer Oil Cuts to End-2018
Tuesday, September 19, 2017 Iraq and other oil producers taking part in global output cuts think they should reduce supply by an additional 1% to help re-balance the market, according to Jabbar al-Luaibi.
Oil Cargoes Shift Away Venezuela As Hurricanes Extend Disruptions
Monday, September 18, 2017 Shippers are sending oil cargoes originally bound for Venezuela to other spots in Latin America and the Caribbean, in advance of coming hurricanes.
China's CNOOC Begins Oil Partner Hunt in Mexico Deep Waters
Friday, September 15, 2017 CNOOC is searching for partners to develop oil prospects deep into the Gulf of Mexico as the Chinese giant extends its global reach.
Venezuela Publishes Oil Prices In Chinese Currency For First Time
Friday, September 15, 2017 Venezuela published the price of its oil and fuel in Chinese currency for the first time.
Venezuela's Crude Supply To The United States Was Flat In August
Wednesday, September 13, 2017 Venezuelan crude sales to the US in August were largely unchanged at 638,935 bpd compared with the prior month, but continued to fall far short of year-earlier levels.
Qatar Says It's Fulfilling Oil and Gas Deals Despite Gulf Crisis
Wednesday, September 13, 2017 Qatar says it is fulfilling all of its contracted shipments of oil and gas despite a regional political crisis that led to the severing of ties with some of its neighbors.
Kuwait Says OPEC May Decide on Extending Cuts in March 2018
Wednesday, September 13, 2017 OPEC and allied oil producers will keep reviewing options for their agreement to cut output, and a final decision on extending the deal beyond March could be postponed until the first quarter of 2018.
Oil Up As OPEC Output Falls, Hurricane Impact Seen As 'Negligible'
Tuesday, September 12, 2017 Oil prices rose after OPEC forecast higher demand in 2018 and Russia and Venezuela confirmed their commitment to a production-cutting deal.
Saudi Arabia Says It's Open to Another OPEC Cuts Extension
Monday, September 11, 2017 Saudi Arabian Energy Minister Khalid Al-Falih agreed with his Venezuelan, Kazakh and UAE counterparts to keep all options open in their push to re-balance world oil markets.
Hurricane Irma Worsens Latin America's Fuel Supply Crunch
Thursday, September 07, 2017 Monster Hurricane Irma has shut down oil terminals across the northern Caribbean, worsening a fuel supply crunch in Latin America.
Retail US Gasoline Prices Surge After Harvey, Global Impact Felt
Friday, September 01, 2017 Retail US gasoline prices surged to two-year highs on Friday and global shipping routes were scrambled.
Harvey Makes Landfall in Saudi Arabia, Muddying Waters: Gadfly
Friday, September 01, 2017 Saudi Arabia has explicitly targeted the US in its strategy to drain the crude oil glut.
Venezuela Probing 'Spectacular' Overpricing In Orinoco Oil Contracts
Thursday, August 31, 2017 Venezuela's new chief prosecutor is investigating 'spectacular' overpricing in a dozen contracts in the nation's Orinoco oil belt.
Harvey Hits US Fuel Supplies to Latin America
Monday, August 28, 2017 Fuel supplies to Europe will also be disrupted by the storm.
PDVSA Negotiating Curacao Refinery Lease, Open to China Partner
Friday, August 25, 2017 PDVSA has operated the refinery for decades, but the cash-poor company has been reluctant to invest in it.
Venezuela's Maduro Swaps Oil Minister And PDVSA President
Friday, August 25, 2017 Venezuelan President Nicolas Maduro names Oil Minister Nelson Martinez as the head of state oil company PDVSA.
Venezuela's IOUs Pile Up, Keeping US Oil Servicers in Tow
Wednesday, August 23, 2017 For Schlumberger and Halliburton the road to payment for services in Venezuela is increasingly long and winding.
Meghan O'Sullivan: Renewables Won't End Geopolitics of Energy
Monday, August 21, 2017 In another sign that the age of fossil fuels is waning, the California State Senate has passed a bill to commit the state to use 100% renewable energy for power by 2045.
Canadian Oil Sands Producers: Heady Days May Not Last Long
Monday, August 21, 2017 Most Canadian oil sands producers are expected to book losses or post sharp drops in profit in the coming quarters.
Venezuela's Oil Company Says 'Financial Blockade' Hurts Payments
Friday, August 18, 2017 A US-led 'financial blockade' has hurt PDVSA's capacity to collect payment for crude cargoes
Traders Expect Asia To Import More Venezuelan Crude If US Sanctions Kick In
Tuesday, August 15, 2017 Asia would be the biggest beneficiary of any potential sanctions by the United States on Venezuela's oil sector, said traders and analysts.
OPEC's Long-Sought Success Spoiled by 2018 Oil Supply Worry
Tuesday, August 15, 2017 Oil investors are already worrying over the potential fallout when OPEC's deal to cut output expires, marring emerging signs that the accord to shrink a glut is finally succeeding.
Venezuela's Citgo Turns to Canada for Oil as Crisis Deepens
Friday, August 11, 2017 Venezuela's oil-supply woes are so dire that its US refineries are turning to Canada for help.
Threat of Venezuelan Oil Ban Pits Oil Boss Hamm Against Refiners
Friday, August 11, 2017 The prospect of a US blockade of crude oil imports from Venezuela has ignited fierce lobbying in Washington pitting domestic energy producers against refiners that depend on those supplies.
IEA Cuts Estimates for Crude Needed From OPEC in 2017, 2018
Friday, August 11, 2017 The International Energy Agency cut estimates for the amount of crude needed from OPEC this year and in 2018.
No-Name US Oil Driller Gets Shot at World's Top Reserves
Wednesday, August 09, 2017 'It's very unorthodox to see a small player like Horizontal Well Drillers pop up on a project this size,' said Luke Lemoine, an energy analyst at Capital One Securities Inc.
Rosneft Says Lent Venezuela's State Oil Firm A Total Of $6B
Tuesday, August 08, 2017 Rosneft says it made around $6 billion in pre-payments to PDVSA and had no immediate plans to make any further advance payments soon.
Higher-Cost Crude Could Squeeze Margins At US Refiners
Monday, August 07, 2017 US refiners could face a continued squeeze on profit margins in the months ahead as dwindling supplies of heavy crude from Venezuela and elsewhere are leading several to switch.
Russian Oil Giant Lends Support to Venezuela Oil Company
Friday, August 04, 2017 Russia's largest oil company disclosed another advance payment to Venezuela's state producer after the US sanctioned President Nicolas Maduro on Monday.
PDVSA Asks Bondholders to Waive Financial Reporting Requirements
Thursday, August 03, 2017 PDVSA is asking bond investors for a temporary waiver from financial reporting requirements because it can't complete the documents on time.
Indian Oil Corp Aims To Source A Tenth Of Oil Needs From Own Assets
Wednesday, August 02, 2017 Indian Oil Corp wants to supply at least 10% of its expanding refining capacity from its own oil and gas assets in the medium term.
West African Oil Booms As Refineries Cash In On High Margins
Wednesday, August 02, 2017 Booming refinery profits are helping West African oil producers sell cargoes quickly, aided by a shortage in certain types of crude.
Document: PDVSA's Refining Network To Work At 44% Of Capacity In Aug
Tuesday, August 01, 2017 PDVSA expects its refining network to work at 44% of capacity in August due to a lack of light crude and spare parts and planned maintenance work.
CEO: Phillips 66 Processed Less Heavy Crude In 2Q Due To Supply Issues
Tuesday, August 01, 2017 Phillips 66 processed less heavy crude at its nine refineries in the second quarter due to reduced global supply, CEO Greg Garland says.
Oil At 2-Month High, Ends Above $50 A Barrel
Monday, July 31, 2017 Oil prices rose to 2-month highs, ending the strongest month of the year for crude futures.
Oil Markets Escape Venezuela Sanctions For Now
Monday, July 31, 2017 US oil markets had a muted reaction after Washington slapped sanctions on Venezuelan President Nicolas Maduro.