OPEC+ Sees No Need to Meet US Call for More Supply
OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise, four sources told Reuters.The price…
Oil Steady as Inventory Drop vies with Trade Concerns
Oil prices fell on Wednesday as worries over a possible delay in resolving the U.S.-China trade war which has hurt global oil demand competed with a drop in U.S. crude inventories which buoyed prices.Brent crude was up 4 cents, or 0.06%, at $61.63 a barrel by 0906 GMT. U.S.
Tellurian Clears Hurdle for LNG Export
Texas-based natural gas company Tellurian has announced that the US Department of Energy (DOE) Office of Fossil Energy has issued the long-term authorisation for Driftwood LNG to export domestically produced LNG from its proposed…
Oil Falls on Slowing Chinese Demand, US-China Trade Spat
Oil prices fell on Wednesday after Chinese import data showed a slowdown in demand and as a trade dispute between Washington and Beijing escalated further.U.S. crude futures fell more than $1 per barrel to $68.13 after China said it was retaliating against U.S.
Oil Up as U.S. Sanctions on Iran Expected to Tighten Supply
Oil prices rose on Tuesday with revived U.S. sanctions against major crude exporter Iran expected to tighten global supply.Brent crude oil futures were up 75 cents to $74.50 per barrel at 1337 GMT and U.S. West Texas Intermediate…
EU Aims to Block U.S. Sanctions on Iran
The European Union vowed on Monday to counter U.S. President Donald Trump's renewal of sanctions on Iran, in a test of the EU's ability to preserve a deal that saw Iran limit its nuclear ambitions in exchange for removing strict…
US Oil Exports to India Soar Ahead of Iran Sanctions
U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration.U.S.
Iran's Oil Customers in Europe Might Reduce Imports
European oil companies are not ruling out reducing Iranian oil imports after the threat of new U.S. sanctions, with some expecting banking issues to hinder trade, but there was no rush to immediately cut volumes.U.S. President Donald…
Commodities' Dilemma: Strong Demand or Trade War Fears?
The tug-of-war between fundamentals and sentiment appears to be getting stronger for many commodities as the market tries to reconcile factors such as robust demand numbers from China and increasingly worrying rhetoric and actions from the United States.
U.S. Considers Venezuela Oil Sanctions
The Trump administration is considering sanctioning a Venezuelan military-run oil services company and restricting insurance coverage for Venezuelan oil shipments to ratchet up pressure on socialist President Nicolas Maduro, a U.S. official said.
BP North Sea Field to Test U.S. Iran Policy
Serica acquires Rhum field from BP, co-owned by Iran; seeks U.S. licence to operate in Rhum field. A small gas field on the edge of the British North Sea could become a litmus test for U.S. policy towards Iran. London-based BP this…
A BP North Sea field to test U.S. policy on Iran
A small gas field on the edge of the British North Sea could become a litmus test for U.S. policy towards Iran. London-based BP this week agreed to sell to North Sea producer Serica Energy three fields in the ageing offshore basin…
Total Opens Washington Office as Iran Risks Loom
Total has opened an office in Washington in a bid to strengthen relations with the U.S. administration as the French oil and gas company prepares to invest billions in Iran. In July, Total became the first Western energy firm to…
KeystoneXL Opponents Vow Long Fight as Nebraska Hearing Concludes
Opponents of the Keystone XL pipeline vowed on Thursday to block construction of the controversial project if Nebraska regulators approve the proposed route later this year. Nebraska regulators wrapped up a final public hearing a…
Total CEO: Iran Gas Deal Should be Done Before Summer
French oil major Total still plans to conclude the Iran South Pars gas deal before summer, its chief executive Patrick Pouyanne told journalists on the sidelines of the company's annual general meeting. Pouyanne said the signing of U.S.
Top Trading Houses Weigh in at Commodities Conference
Top executives from the world's largest commodity trading houses discuss trends in trading at the FT Commodities Global Summit in Lausanne, Switzerland, this week. "Trade policies coupled with foreign aid and sound development policy is critical.
Statkraft Eyes Distressed Assets After Offshore Wind Exit This Year
* Says still sees high interest for renewable energy in California and other state of the U.S. and willingness to continue putting up investment schemes, despite lack of clarify from the new U.S.
Iran to hold tender for oil, natural gas fields
Iran will launch new contracts to develop oil and natural gas fields in mid-February in the country's first such tender since the lifting of international sanctions a year ago, an oil official said on Saturday. "The plan was to hold the first tender at the end of January…
Russia says Ready to Talk to Trump About Nuclear Arms, Syria
Russian Foreign Minister Sergei Lavrov said on Tuesday that Moscow was ready to talk to U.S. President-elect Donald Trump's new administration about nuclear weapons and Syria, saying the two countries could together solve many of the world's problems.
What’s New in Floating Production? December 2016
The December WER report examines whether OPEC’s decision to limit crude production will accelerate deepwater project starts over the next 12 to 24 months, given 3 billion barrels of oil stocks in global inventory, 5,000+ drilled-but-uncompleted shale wells in the U.S.
