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]
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]
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]
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]
End to NAFTA would be a major blow to Mexico and its economy could slip into a severe recession Following a solid increase of 3.2 per cent last year, real GDP in the global economy [Read more]
Alberta has target for its electricity sector to hit 30% renewable energy by 2030 Two years ago, SaskPower announced it would reduce emissions by 40 per cent below 2005 levels by 2030, and said it [Read more]
Forties pipeline was shut down on Wednesday due to unexpected closure of the feed control valves. Total photo. Oil prices rose about 50 cents/barrel on news of Forties pipeline shutdown The 450,000 barrels per day [Read more]
China’s crude oil imports will likely continue to increase over at least the next 2 years China surpassed the United States in annual gross crude oil imports in 2017, importing 8.4 million barrels per day (b/d) compared [Read more]
Oil prices have risen 52 per cent since June 2017 and have put a squeeze on airlines will likely result in higher airfares. Airlines say airfare increases have not kept pace with increasing oil prices [Read more]
The four biggest refiners in the United States, Phillips 66, Valero, Marathon and Andeavor posted one-time tax gains of $7 billion combined in 2017 Q4, matching their net incomes for all of 2016, according to [Read more]
Mexico shale oil proven reserves amount to 13 billion barrels. Pemex has drilled in Mexico shale reserves, but produced little Reuters reports that Mexico is hoping to hold its first shale oil and gas auction [Read more]
Analysts say BP likely to approve fields in Mauritania, Angola and India. The company says it will only approve projects that make money even if oil prices drop. BP increasing production by drilling new wells [Read more]
Suncor is implementing the use of autonomous haulage systems (AHS) at company-operated mines, starting with the North Steepbank mine. Over the next six years, the company expects to deploy more than 150 autonomous haul trucks [Read more]
Exxon says it will increase its investment in West Texas and New Mexico shale operations. Zuma Press photo by Joel Angel Juarez. Exxon CEO credits changes in taxes, regulations for rising investments Reuters reports Exxon [Read more]
57 per cent of respondents felt “positive” or “very positive” about wind turbines located near their homes. Creative Commons photo by Samir Luther. Over 1.3 million US homes located near wind turbines A study led [Read more]
70% of Trinidad revenue generated by operations outside Canada Trinidad Drilling Ltd. has announced it’s moving eight rigs to the Permian Basin, TX to meet increased customer demand, according to a press release. The rigs [Read more]
“Think tanks” will be tasked with solving an inter-disciplinary problem relevant in energy industry today Professor David Eaton has earned an international reputation for his scientific leadership in understanding emerging industry practices, like hydraulic fracturing, according to [Read more]
United States became net exporter of natural gas on an annual basis for first time in 2017 In its latest Short-Term Energy Outlook (STEO), EIA expects the Henry Hub natural gas spot price to average $2.88 per [Read more]
Royal Dutch Shell is investing in cleaner energy projects, including a network of EV charging stations on European highways. Royal Dutch Shell spent over $400 million recently to expand beyond oil and gas, reduce its [Read more]
Of the Big Oil companies, Royal Dutch Shell appears the strongest performer among the group in terms of organic free cash flow. Shell photo. Big Oil expected to generate more cash in 2018 than any [Read more]
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