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What we’re most likely to see as anti-US and anti-Iranian protests continue to consume Iraq is a compromise that allows U.S. influence to remain under the guise of NATO, or a compromise that allows the U.S. to withdraw while appearing not to have–whichever way you wish to interpret it.  Already, the groundwork is being laid […]Read More

South Sudan believes that Russian companies can help it to develop its oil, natural gas, and refining industries, the foreign minister of the small African oil producer has told Sputnik. Awut Deng Acuil, Minister of Foreign Affairs and International Cooperation of South Sudan, visited Russia earlier this week, where she met with Russia’s Foreign Minister […]

After another week of faltering oil prices as the coronavirus outbreak continues to spook the market, Baker Hughes reported that the number of oil and gas rigs in the US decreased this week, to 790—a decrease of 4 rigs. The total oil and gas rig count is now 265 down from this time last year. […]

Crude oil prices slid a painful 15% in January—the biggest January slide since 1991—as the coronavirus claims the death of 213 souls and counting. After a couple weeks of continued slippage, the price of the Brent and WTI benchmarks were trading down 0.98% and 0.73% on the day, respectively, at 9:51 am as the World […]Read More

Eni’s joint venture with the Libyan National Oil Corporation is losing 155,000 barrels of oil per day of production because of the continued blockade of oil export terminals and fields, according to NOC, as quoted by Reuters. Mellitah Oil and Gas as the joint venture is called operates the El Feel and Abu Attifel fields, […]

The United States will remove the sanctions it imposed on Chinese tanker operator Cosco for violating the Iran oil sanctions, Reuters reports, citing sources in the know. One of the sources, from a large Chinese oil company, said Cosco had already been taken off the sanction list and only an official confirmation of the removal […]

ExxonMobil (NYSE: XOM) reported on Friday fourth-quarter earnings down from a year earlier, as lower natural gas prices and weak chemical and refining margins were not enough to offset cash flow from asset sales in the quarter.   Exxon’s Q4 earnings slipped by 5 percent on the year to $5.69 billion, while earnings per common […]

Retail investors with long positions in crude oil markets had little to cheer about in 2019 as the market failed to maintain the early-year rally as pipeline outages, geopolitical tensions and dramatic changes in ship fuel regulations shook up the global oil market leading to high volatility. It was an annus mirabilis, though, for large […]

The ‘big beautiful monster’ Phase One trade deal between the United States and China may end up being truly beautiful for U.S. exports on paper only—at least as far as energy is concerned. Analysts have largely concurred that the Chinese promise to buy additional US$52.4 billion worth of U.S. energy products in 2020 and 2021 […]Read More

The flow of oil traveling from Latin America to China has stopped in the wake of the deadly outbreak of the coronavirus that has sunk oil prices to three-month lows, with no oil making its way from Brazil or Colombia to China since last week, according to Bloomberg.  Chinese refineries are responsible for taking one-third […]

Royal Dutch Shell reported a steep drop in earnings in the fourth quarter, and the financial squeeze may slow the pace of share buybacks and force more asset sales. Shell’s earnings of $2.9 billion were down by half from a year earlier, leading to a 3 percent drop in its share price on Thursday morning. […]

Upstream capital investment in Canada’s oil sands is expected to grow this year from 2019 for the first increase in capital expenditures in five years, the Canadian Association of Petroleum Producers (CAPP) said on Thursday. The association attributed its rosier expectations for this year to “a more competitive economic environment” due to some recent policies […]