Jump to content
Libya may introduce contracts with private oil companies that would give bonuses to those that meet targets and penalize those that don’t, as the OPEC member tries to raise output to 1.4 million barrels a day by mid-2022. View the full article
Oil at $100 a barrel cannot be ruled out in 2023 as supply additions are expected to be too slow to keep up with record demand, according to Goldman Sachs Group Inc. View the full article
Processing the high-sulfur crudes produced in the Gulf of Mexico hasn’t been this profitable since 2017, thanks largely to cheap shale gas. View the full article
Oil extended gains to the highest in three weeks a day after U.S. crude stockpiles dropped the most since September while the dollar slipped. View the full article
Amplify Energy Corp. was charged with criminal negligence in California’s worst oil spill in almost three decades, in which an estimated 25,000 gallons (94,635 liters) of crude oil leaked from a submerged pipeline off the coast of San Diego. View the full article
Mahathi Infra Uganda’s $270-million lakeside logistics complex, a strategic addition to the East African nation’s oil infrastructure, is set to start operations in January. View the full article
Mozambique has made gains against Islamic State-linked insurgents who disrupted the southeast African nation’s multibillion gas project, according to President Filipe Nyusi. View the full article
Harold Hamm, who took Continental Resources Inc. public 14 years ago, says right now his closely held competitors can do what he simply can’t: increase oil production to meet rising demand. View the full article
Global demand for oil products has seen strong recovery this year, however, depressed kerosene demand from the aviation sector is a major barrier to full recovery, says GlobalData, a leading data and analytics company. View the full article
Billionaire oil wildcatter Harold Hamm is donating $50 million for a new research center at Oklahoma State University focused on “securing America’s energy future,” a move that comes as the industry debates how to transition to cleaner fuels. View the full article
Oil eked out a gain, climbing in tandem with equities, as traders weighed the Federal Reserve’s shift to tighter monetary policy to battle inflation. View the full article
Fossil fuel companies should face probes on whether they’re using “loophole-ridden” environmental, social and governance goals to boost executive pay while contributing to environmental destruction, Senator Elizabeth Warren said, adding to her calls to rein in CEO compensation. View the full article
Crude production in the Permian Basin is expected to surpass a pre-pandemic high this month as a rebound in the U.S. shale industry fuels activity in its most prolific patch. View the full article
Oil forecasters have parted company on their views about demand in the coming months, as the omicron variant of the Covid-19 virus spreads rapidly around the world. And producers have emerged as the surprising bulls in the latest round of estimates. View the full article
The oil market flashed its biggest bearish signal in months on Tuesday, indicating oversupply could be on the horizon through the first quarter of 2022. View the full article
Stern warnings from U.S. and European officials suggest the window is closing on nuclear talks with Iran, with frustration boiling over after two weeks of negotiations marred by allegations of Iranian backsliding. View the full article
President Joe Biden’s energy chief extended an olive branch to the oil industry Tuesday, telling executives a crude export ban is not under consideration, while assuring them that the administration was “not a bogeyman.” View the full article
Shell New Energies US, a subsidiary of Royal Dutch Shell, has signed an agreement to buy 100% of Savion LLC, a large utility-scale solar and energy storage developer in the United States, from Macquarie’s Green Investment Group. With this acquisition, Shell expects to significantly expand its global solar portfolio. View the full article
The European Union is planning a hard deadline to end long-term contracts to import natural gas as part of its green shift, a setback for top supplier Russia. View the full article
Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. View the full article
German Chancellor Olaf Scholz, under pressure from the U.S. to halt the Nord Stream 2 pipeline project over Russian aggression toward Ukraine, may quietly delegate the task to the country’s bureaucracy. View the full article
OPEC increased its forecast for global oil demand in the first quarter substantially, as some of this year’s recovery is delayed by Omicron but the overall risk from the new virus strain remains limited. View the full article
Saudi Arabia’s energy minister warned traders against shorting oil prices, saying OPEC+ could react quickly to any fall in prices. View the full article
Most Active Members
Recently Online
Popular Members