SINGAPORE/HOUSTON (Reuters) - Asia would be the biggest beneficiary of any potential sanctions by the United States on Venezuela's oil sector, said traders and analysts, as exports from the South American OPEC member could be redirected to the region, filling a vacuum left by producer supply cuts.
Author: APTue, 2017-08-15 03:00ID: 1502785898374357300DUBAI: During recent trips to Croatia and Malta, a Dubai-based billionaire and business partner of the Trump Organization looked more like a head of state himself — mingling with government dignitaries, receiving a presidential reception and visiting the glittering Mediterranean Sea.Hussain Sajwani met with leaders in the two European nations and addressed local […]
Domestic politics in the United States may influence the final decision on whether to sanction Venezuela’s oil sector. Sens. John Cornyn of Texas, Bill Cassidy of Louisiana and Thad Cochran and Roger Wicker, both of Mississippi, sent a letter to President Donald Trump on Aug. 10 to urge him not to sanction Venezuela’s oil sector. […]
The Baker Hughes North American rig count tracks weekly changes in the number of active operating oil & gas rigs. Used for drilling wellbores for wells that may eventually produce oil or gas, active rigs are essential for the exploration and development of oil and gas fields. Rigs that are not active are not counted. […]
The Venezuelan government has warned it will defend itself against any intervention by the "extremist" United States after President Donald Trump raised the prospect of a "military option" in the chaos-ridden South American oil state. Mr Trump told ...
BP has started production from a prolific new natural gas well in the Mancos Shale of New Mexico, a discovery that points to the area’s potential as a large new gas supply source for the United States. Early production rates at the NEBU 602 Com 1H well in San Juan County are the highest achieved […]
Caracas’ state-owned refineries in the United States have begun to inquire about importing oil from Canada instead of Venezuela due to the latter country’s oil production crisis, according to a new report by Bloomberg. Citgo Petroleum, which operates refineries in Texas and Louisiana, recently made “quiet” inquiries to buy Canadian grades, sources close to the […]
The number of active oil and gas rigs in the United States fell this week by 5 rigs, but the amount of oil rigs increased as drillers in the United States continue to add rigs in defiance of low oil prices, albeit at a slower rate. Combined, the total oil and gas rig count in […]
Natural gas turbines will replace solar power capacity during the August 21st solar eclipse, highlighting the carbon-light fossil fuel’s emerging role as a gateway “green” energy in the coming decades, according to a report by Fortune. The total eclipse in late August is the first to be seen in the contiguous United States since 1979, […]
US scientists warn that the use of fossil fuels cause a sharp rise in heat, droughts and floods in the United States at a time when President Donald Trump advertises new oil pipelines and promises to revive troubled coal mines, according to Associated Press. The document sends the message that if carbon footprint is not […]
The United States should become a net natural gas exporter by the end of 2017, according to the latest Short-Term Energy Outlook (STEO) released by the Energy Information Administration (EIA) today. The U.S. has been a net exporter in three of the past four months, according to the agency’s data. The trend should continue until […]
New data from the Energy Information Administration (EIA) has brought some good news for advocates of U.S. natural gas production. In three of the first five months of 2017, the United States exported more natural gas than it imported, reversing a trend of net-imports that’s endured for nearly sixty years. Rising exports, fueled by a […]
The American Petroleum Institute (API) reported a major draw of 7.839 million barrels in United States crude oil inventories, compared to analyst expectations of a modest draw of 2.272 million barrels for the week ending August 4. Gasoline inventories rose by 1.529 million barrels for the week ending August 4, compared to analyst expectations that […]
Oil prices recouped earlier losses on Friday but remained on track for a weekly decline, weighed down by rising OPEC exports and strong output from the United States. Brent crude futures, the international benchmark, were trading at $52.06 a barrel at 13.14 GMT, 5 cents above the last close and heading for a fall of […]
Asia’s spot market demand for Middle East and Russian crude oil could rise this month as a regional price shift pares shipments from the Atlantic Basin and the United States back from record highs, refining industry insiders and watchers said on Friday. Dubai and Oman benchmarks for Middle East crude have touched multi-month highs on […]