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Rome to ban diesel cars by 2024
Mayor of Rome Virginia Raggi said “If we want to intervene seriously, we have to have the courage to adopt strong measures”. Nearly all of the pollution in Rome is caused by motor vehicles On [Read more]
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US crude production hit record high in November: EIA
US crude production hit an all time high in November, rising to 10.057 million barrels per day, before retreating slightly in December, according to the US Energy Information Administration. Anadarko photo. November 2017 US crude [Read more]
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OPEC, US shale companies to meet in Houston on Monday: Reuters
OPEC Secretary General Mohammad Barkindo, other OPEC officials will meet with US shale companies in Houston to talk about the global oil glut. OPEC photo. Rising US shale production helped boost overall US output to [Read more]
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Exxon Papua New Guinea LNG plant shuttered after earthquake
Exxon Papua New Guinea LNG plant had to be shut down after power infrastructure on the southwestern Pacific island was damaged in a 7.5 magnitude earthquake early Monday morning. Papua New Guinea Today photo by [Read more]
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Canada falling behind in fierce global competition for oil/gas investment – CAPP
Canadian oil and natural gas investment dropped 19% in 2017 from previous year levels A new economic report released by the Canadian Association of Petroleum Producers(CAPP) claims that rising government costs, the burden of inefficient [Read more]
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Shell says $200 billion required to meet 2030 LNG boom, looking to advance LNG Canada project
A decline in spending since 2014 due to weak energy prices could create an LNG demand boom beginning in the mid 2020s. Shell photo. LNG demand expected to hit 500 million tonnes per year by [Read more]
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Papua New Guinea earthquake shuts down some oil, LNG operations
Papua New Guinea earthquake struck early Monday morning, causing landslides, damaging buildings and closing oil and LNG operations in the southwestern Pacific country. Storyful photo by Baundo Mereh. Papua New Guinea earthquake shuts down Exxon Hides [Read more]
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US imposes new sanctions to block Libyan oil smugglers
Libyan oil smugglers are driving instability in the OPEC nation, according to the US Treasury Department. Reuters photo by Aidan Lewis. Libyan oil smuggling sanctions imposed against six people, 24 companies, seven vessels The United [Read more]
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China becomes world’s second largest LNG importer, behind Japan
Natural gas imports accounted for 40% of Chinese gas use , and LNG made up over 50% of imports China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in [Read more]
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Encana cube development in Permian may be future of US fracking
Encana RAB Davidson is spread over 16 acres and is made up of over 1 million pounds of drilling rigs, bulldozers, tanker trucks and other oilfield equipment. Encana photo. “Cube development” by Encana taps multiple [Read more]
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OPEC closes in on goal to cut industrialized nations’ oil inventories
OPEC data shows oil inventories in developed OECD economies are now 74 million barrels over their five-year average. In January 2017, crude stocks were 340 million barrels over the five-year average. Financial Tribune photo. Participants [Read more]
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OAS chief calls for harsher Venezuelan sanctions targeting oil
Luis Almagro, head of the Organization of American States, says Venezuelan sanctions targeting oil industry would be in response to the South American country’s repressive political climate. El Comercio photo. Proposed Venezuelan sanctions on oil [Read more]
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Canadian natural gas production continues to rise
With existing technology, amount of remaining marketable natural gas estimated at 1,225 trillion cubic feet Canadian marketable natural gas production has remained steady in the last few years despite declining natural gas prices since 2014, according to [Read more]
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Washington state plans to deny Trump offshore drilling plan permits
Trump offshore drilling plan announced in late January would see federal waters off nearly every state opened to oil and gas drilling. Getty Images photo by David McNew. Trump offshore drilling plan not “in the [Read more]
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OPEC crude oil supply cut participants – including Russia – look to make deal permanent
OPEC’s Secretary General Mohammad Barkindo floated the idea of institutionalizing the OPEC supply cut agreement in October, 2017. OPEC photo. OPEC supply cut agreement began in January 2017 United Arab Emirates’ Energy Minister Suhail Al [Read more]
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Deepwater oil projects fight back against shale revolution
Developers of new deepwater oil projects are looking to keep their operations cheap and simple. Shell photo. Some deepwater oil projects rejuvenating existing fields Royal Dutch Shell says Penguins, its latest British North Sea oil [Read more]
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Venezuela looks to pre-sell petro cryptocurrency next week
Critics are concerned the sale of petro crytocurrency nothing more than a debt issuance by Venezuela. Venezuelan government hopes Petro Cryptocurrency will help relieve economic crisis Venezuelan President Nicolas Maduro said on Tuesday that next [Read more]
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Fast rising crude oil production, led by US, likely to grow by more than demand – IEA
In 3 months prior to November, US crude oil output increased by surprising 846,000/d, and will soon overtake Saudi Arabia New and revised data shows a modest tightening of the balance in the early part [Read more]
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Russia looking at long-term relationship with OPEC
Along with participating in the OPEC supply cut pact, Russian Energy Minister Alexander Novak says Russia and Saudi Arabia are also working together on energy projects, including oil services and petrochemicals. Lukoil photo. Russia looking [Read more]
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US oil exports hit worldwide markets, undercut oil prices
The ban on US oil exports was lifted by the Obama administration in 2015, opening up global crude market to US producers. Getty Images photo. In 2015, the Obama administration lifted a 40-year ban on [Read more]
