RSS THE SOURCE: Oil & Gas

  • Oil traders expect Asia to import more Venezuelan crude if U.S. sanctions kick in August 15, 2017
    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.
  • Dubai billionaire seeks to sell Trump-branded villas abroad August 15, 2017
    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 […]
  • U.S.: Senators Urge Trump Not to Sanction Venezuelan Oil August 14, 2017
    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. […]
  • Baker-Hughes Rig Count August 13, 2017
    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. […]
  • Venezuela rejects 'act of madness' after Donald Trump threatens military action August 12, 2017
    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 Brings in Prolific Gas Well in Mancos Shale August 11, 2017
    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 […]
  • PDVSA Refineries Look Towards Canadian Crude To Meet Demand August 11, 2017
    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 […]
  • Oil Rig Count Rises Despite Ballooning Shale Debt August 11, 2017
    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 […]
  • US imposes new sanctions on Venezuela, targets members Constituent Assembly August 11, 2017
    The United States has imposed new sanctions on Venezuela following the oil-rich nation's election of a new assembly tasked with rewriting the constitution.
  • Natural Gas To Take Over For Solar Capacity During Eclipse August 10, 2017
    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, […]
  • An American Scientific Report Contradicts Trump's Climate Claims August 10, 2017
    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 […]
  • U.S. Set To Become Net Natural Gas Exporter By Year-end August 9, 2017
    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 […]
  • US prepares more sanctions against Venezuelan officials August 9, 2017
    The United States is planning additional sanctions for Venezuela following the oil-rich nation's election of a new assembly tasked with rewriting the constitution.
  • Natural Gas Prices Poised To Rise As Exports Boom August 8, 2017
    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 […]
  • API Reports Major Crude Inventory Draw, Surprise Gasoline Build August 8, 2017
    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 slides from nine-week highs as market looks to OPEC August 7, 2017
    LONDON (Reuters) - Oil prices edged lower on Monday, sliding away from nine-week highs, as worries lingered over high production from OPEC and the United States.
  • US oil production at highest since August 2015 August 7, 2017
    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 oil demand seen shifting back to Mideast, Russia in Q4 after Brent rise August 6, 2017
    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 […]