Oil prices remained steady on Wednesday, despite data from the US Energy Information Administration showing an increase in US crude inventories by 2.2 million barrels. Oil prices initially fell following release of EIA data On [Read more]
GE Renewable Energy signed an agreement with the British government to test the company’s Haliade-X 12 MW turbine in Blyth, Northumberland. GE photo. GE Renewable Energy and UK’s Offshore Renewable Energy Catapult sign five-year agreement [Read more]
John Kemp argues that if OPEC maintains its current output curbs through December, the market is set to become exceptionally tight, which will push prices and spreads towards unstable levels. Anadarko photo. By John Kemp [Read more]
Oil prices hit their highest level since November 2014 Tuesday on strong global demand, OPEC’s supply cut agreement and the possibility that US sanctions could be imposed on Iran. Anadarko photo. Oil prices could rise [Read more]
A Minnesota judge has agreed that the Enbridge Line 3 replacement project is necessary, but has rejected the Calgary-based company’s preferred route. Enbridge graphic. Enbridge Line 3 project valued at $8.2 billion On Monday, a [Read more]
Alberta oil producers are struggling to get crude to market as Canadian pipelines are at full capacity and rail lines are pressured to ship agricultural products at certain times in the year. Reuters photo by [Read more]
Hedge fund managers have gambled everything on a goldilocks scenario in which oil prices rise without damaging demand or spurring too much shale drilling. Anadarko photo. Hedge fund community’s positioning has become “exceptionally lopsided” By [Read more]
Despite a $312 million writedown on Halliburton Co assets in Venezuela, the company reported a 34 per cent jump in first quarter revenue, mostly due to strong North American demand. Reuters photo by Richard Carson. [Read more]
Oil prices were mixed on Monday after Iran’s oil minister, Bijan Zangeneh (pictured), said the OPEC supply cut agreement does not need to be extended if high oil prices continued. AP file photo by Vahid Salemi. [Read more]
The Tesla/BP wind farm battery storage pilot project will be at BP’s Titan 1 wind farm in South Dakota. BP photo. Wind farm battery storage project will use 212kW/840kWhr Tesla battery BP Wind Energy and [Read more]
On Friday, Baker Hughes data showed the US oil rig count rose by five to 820, 132 more than this time last year. In Canada, the oil rig count is down by three to 38. [Read more]
Early on Friday morning, US President Donald Trump tweeted that “OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very [Read more]
Total SA to purchase 74.3 per cent of Paris-based Direct Energie for €1.4 billion as the European oil major shifts into natural gas and electricity distribution. Bloomberg photo. Total SA joins other European energy giants in [Read more]
An expanding middle class in India means more people are flying to their destinations, boosting demand for jet fuel to record highs this year. India Times photo. Indian government’s infrastructure overhaul has boosted demand for [Read more]
US oil prices hit $69.56 during trading on Friday, the highest since Nov. 28, 2014. Benchmark Brent touched $74.74/barrel, its highest since Nov. 27, 2014. Anadarko photo. Oil prices rise as global crude glut shrinks [Read more]
OPEC and its allies, as well as other oil producers, need to incorporate the increasing probability of a US recession and global slowdown when projecting oil consumption and prices in 2019 and 2020. 40 per [Read more]
Two unions with the Canadian Pacific Railway have issued 72 hour strike notice. A CPR strike could derail any recovery in the Alberta oil industry which has suffered heavy losses since the 2014 oil price [Read more]
Oil prices rose on Wednesday after Saudi Arabia reportedly said it would like to see oil hit $100/barrel and data from the US Energy Information Administration showed US crude stocks fell last week. Repsol photo. [Read more]
This week, production of the Tesla Model 3 was shut down for the second time this year to allow the company to “improve automation and systematically address bottlenecks” at its Fremont, California factory. Tesla photo. [Read more]
On Tuesday, oil prices remained steady as investors took profit after last week’s gains. Prices were supported by possible US sanctions could restrict Iranian oil exports and falling production in embattled Venezuela. Pioneer Natural Resources [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
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