• API: US petroleum product demand hits 10-year September peak
    on October 20, 2017 at 6:09 pm

    US petroleum product demand averaged more than 20.2 million b/d in September, 2.4% more than a year earlier and the highest level for the month since 2007, the American Petroleum Institute reported. […]

  • US Senate rejects bid to remove ANWR provision from budget bill
    on October 20, 2017 at 4:38 pm

    The US Senate rejected an amendment that would have removed language authorizing oil and gas development within the Arctic National Wildlife Refuge from the fiscal 2018 budget bill on Oct. 19. The 52-48 balloting largely followed party lines, with Republicans except Susan Collins (Me.) voting against it and Democrats except Joe Manchin (W.Va.) supporting it.&nbs […]

  • WoodMac: Libya’s oil production might have reached near-term potential
    on October 20, 2017 at 3:26 pm

    Wood Mackenzie Ltd. analysts believe Libya’s oil production might have reached near-term limits with only gradual future growth. The possibility of longer-term political normalization and a reduction in the nation’s political conflicts depends on Libya maintaining oil production. […]

  • MARKET WATCH: NYMEX crude oil drops under $52/bbl
    on October 20, 2017 at 3:06 pm

    The light, sweet crude oil contracts dropped to settle under $52/bbl on the New York market on Oct. 19. The US benchmark fell for a second consecutive day in early trading on Oct. 20 during a week in which oil prices wavered between gains and losses. &nbs […]

  • Cenovus to sell its Palliser assets in Alberta for $1.3 billion (Can.)
    on October 19, 2017 at 5:49 pm

    Cenovus Energy Inc., Calgary, has agreed to sell its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger Ltd. for $1.3 billion (Can.) in cash. […]

  • DOE announces $26 million in carbon-capture project funding
    on October 19, 2017 at 3:48 pm

    The US Department of Energy announced as much as $26 million in financial assistance for cost-shared research and development projects through its Fossil Energy Office. Selected projects will study ways to reduce both costs and emissions for both coal and natural gas-fired power plants under DOE’s Carbon Capture Program. […]

  • ESAI: Price hikes to cut Saudi oil demand
    on October 19, 2017 at 3:40 pm

    Price increases accompanying economic reform will lower demand for gasoline in diesel again next year in Saudi Arabia, predicts ESAI Energy LLC, Boston. […]

  • Senators introduce bill to facilitate small-scale LNG exports
    on October 19, 2017 at 2:38 pm

    US Sens. Bill Cassidy (R-La.) and Marco Rubio (R-Fla.) introduced a bill on Oct. 18 aimed at facilitating federal approval of US LNG exports as much as 51.1 bcf/year. […]

  • MARKET WATCH: Oil prices mixed on expected OPEC production-cut extension
    on October 19, 2017 at 2:26 pm

    The light, sweet crude oil price contract for November delivery gained modestly on Oct. 18 but fell in early Oct. 19 trading during a week characterized by mixed energy trading, which analysts attribute largely to rising political tensions in the Middle East. […]

  • DNV: Electricity as energy source will gain on oil, gas by 2050
    on October 18, 2017 at 9:12 pm

    Electricity will gain ground globally on oil and natural gas by 2050 as its use in vehicles continues to rise and power distribution systems are built in developing countries, an inaugural forecast by DNV GL AS, Oslo, said. But natural gas will be the single biggest energy source by mid-century, despite its supplies peaking in 2035 after surpassing crude oil a year earlier, where supplies will fall in 2028, it added. […]

  • Iraq urged to improve oil service contracts
    on October 18, 2017 at 5:57 pm

    To meet plans for oil production and refining capacity, the Iraqi government must improve contracts with international oil companies and attract foreign investment, says Arab Petroleum Investments Corp. (APICORP), Dammam. […]

  • EIA reports 5.7 million-bbl decline in US crude stockpiles
    on October 18, 2017 at 3:02 pm

    For a fourth straight week, US crude oil stockpiles fell while gasoline inventories climbed, data from the US Energy Information Administration indicates. […]