The Commodities Feed: Oil rises amid declining US inventories
Energy – Bullish API report Oil prices rebounded in the early trading session today, with the ICE Brent front-month contract trading above $81/bbl following a larger-than-expected oil inventory...
View ArticleSlowing global jet fuel consumption adds to oil demand concern
Global jet fuel demand is poised to soften as a slowdown in consumer spending hits travel budgets, a shift that could weigh on oil prices in the months ahead. Global oil demand has not met expectations...
View ArticleTexas oil regulator under scrutiny as zombie wells gush back to life
On a sprawling ranch in Pecos County in late July, oil well control specialist Hawk Dunlap used a backhoe to uncover an abandoned or so-called zombie well that had sprung back to life despite being...
View ArticleReplacing Norway’s oil and gas supplies to Europe with imports would...
Replacing oil and gas production from future Norwegian developments with like-for-like imported volumes from other parts of the world would result in an emissions increase of 230 million tonnes of...
View ArticleIntelligence Brief: Oil Infrastructure Should Weather Escalation in Middle East
It is very likely that conflict in the Middle East will escalate in the coming weeks/months. Although impossible to foresee, military engagement is likely to be focused in Southern Lebanon and Northern...
View ArticleNew drilling technology to put billions of barrels of oil in reach, analysts say
An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into production, analysts said. Chevron on...
View ArticleBullish gas, LNG prices push European inland refineries to favor LPG as fuel...
Bullish European gas and LNG prices have pushed inland refineries to consider alternative fuels as their main power source with relatively cheap inland propane prices providing strong incentive for...
View ArticlePertamina-Siemens Energy Ready to Realize Sustainable Energy Transition
PT Pertamina (Persero) is collaborating with Siemens Energy to realize sustainable, safe, and affordable energy in Indonesia. This synergy was marked by a Memorandum of Understanding (MoU) signing on...
View ArticleEquinor wins offshore wind lease in U.S. Central Atlantic auction
Equinor has been announced as a provisional winner in the Bureau of Ocean Energy Management’s (BOEM) offshore wind energy lease auction in the U.S. Central Atlantic region. The ~2 gigawatt (GW) lease...
View ArticleOil prices set to end week higher on US demand optimism
Oil prices were set for a second straight week of gains despite edging lower on Friday, as recent U.S. economic data boosted optimism over demand from the world’s top oil consumer. Brent crude futures...
View ArticleAsian refiners snap up Mideast light oil, shun expensive WTI
Asian refiners are snapping up Middle East light crude oil cargoes as high Brent prices curb arbitrage supply from the U.S., Europe and Africa, driving up the Murban benchmark to its highest this...
View ArticleValeura Energy: Nong Yao C First Oil
Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) (“Valeura” or the “Company”) is pleased to announce first oil production from its Nong Yao C development, in Licence G11/48 (90% operated working interest),...
View ArticleChina boosts crude oil stockpiles in July amid weak refining: Russell
Even though its imports of crude oil fell to the lowest in almost two years in July, China continued to boost stockpiles in July as refinery throughput fell for a fourth month. China, the world’s...
View ArticleIraq’s ambition to become refinery powerhouse moves closer to fruition
Iraq’s ambitions to expand its refining capacity to capture more exports of higher-valued refined products is closer to being achieved with two more refineries in the works even with existing plants...
View ArticleCheaper oil may grease wheels of future EUR/USD rally
Cheaper oil which favours importers like the euro zone while undermining economies of exporters such as the United States may grease the wheels of a future EUR/USD rally. Traders have long been...
View ArticleOil falls more than $2, set for weekly decline on China worries
Oil prices fell by more than $2 on Friday and were on track for a weekly decline, with Brent slipping below $80 a barrel after a string of dismal indicators for July from China overshadowed...
View ArticleHeavy oil discount holds steady
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) held steady on Friday: * WCS for September delivery in Hardisty, Alberta,...
View ArticleUS Cash Crude-WTI Midland eases on weak Asia demand
U.S. WTI Midland crude weakened on Friday, dealers said, on weak demand from Asia refiners. WTI Midland eased 5 cents, while Mars strengthened 15 cents. Asian refiners are snapping up Middle East light...
View ArticleBaker Hughes Rig Count: U.S. -2 to 586 Canada unchanged at 217
Baker Hughes Rig Count: U.S. down 2 to 586 rigs U.S. Rig Count is down 2 from last week to 586 with oil rigs down 2 to 483, gas rigs up 1 to 98 and miscellaneous rigs down 1 to 5. U.S. Rig Count is...
View ArticleIraq’s oil ministry signs 13 contracts for oil field development and exploration
Iraq’s oil ministry has initialed the 13 contracts for oil fields and exploration blocks that were awarded in the most recent licensing round held May 11-13. In an Aug. 14 ceremony in Baghdad, oil...
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