MOSCOW/ LONDON, July 9- With President Vladimir Putin watching from afar, the head of Rosneft, Igor Sechin, launched the world's biggest oil drilling platform in the Okhotsk Sea to warm handshakes with his colleagues from ExxonMobil.» Read More
Retail gasoline prices in the U.S. Midwest were as much as 50 cents higher than in the rest of the country this week, and a number of contributing factors are to blame.
Ever since its founding as an autonomous state in 1948, Israel has relied on imported energy to meet its domestic power demands. However, offshore exploration operations have now found giant natural gas fields able to supply the country with more gas than it can use.
The Kurdish government in Iraq announced Wednesday it would resume oil exports from the region later this week. Erbil had shut down exports in April, blaming the central government in Baghdad for withholding payments owed to international oil companies working in the semi-autonomous north. The region's Ministry of Natural Resources said the resumption was a goodwill gesture meant to encourage the central government to settle the outstanding payments. With foreign companies seemingly focusing their financial energy in northern Iraq, however, the gesture may be more of a power play than a confidence-building effort.
For a variety of reasons there still exist many untapped oil fields in the world. Those reasons may be political, technological, geological, or economical; but as time goes on they are being resolved to the extent that some huge fields are now becoming available for exploration and production.
China’s $15.1 billion bid to acquire Canada’s Nexen oil company threatens to turn China into an owner rather just a major buyer of Canadian oil, and prompts a surge in nationalist rhetoric that is attempting, misguidedly, to bring up the question of sovereignty.
The cost of generating electricity by wind and solar is falling rapidly, ,and however hard Big Oil and Big Gas try to suppress government funding and tax breaks for renewables, they are doomed to lose, and in only about 4 years.
Nationwide Mutual has become the first insurance company to decline coverage for claims related to hydraulic fracturing, a controversial energy production known as “fracking.”
Argentina is making few friends in the fossil fuels industry these days. Sam Logan, owner of Southern Pulse, speaks to Oilprice.com about the politics of populism behind Argentina’s energy aggression.
Andrew Su, CEO of Compass Global Markets says that WTI crude prices will head lower this week as speculation of more quantitative easing from the Federal Reserve eases.
Royal Dutch Shell is one of six energy companies hoping to begin drilling for oil and gas in the Arctic next month, and the U.S. Coast Guard is billions of dollars short of what it needs to monitor and protect those operations, according to a report.
The country's gas storage market is near capacity, in fact—much earlier than normal in the current gas injection season.
The U.S. needs to do a better job of developing its own natural resources to help improve sluggish economic growth, T. Boone Pickens, founder of BP Capital, told CNBC’s “Street Signs” on Thursday.
PTT Exploration and Production, the subsidiary of PTT, may be still holding out its bid for Mozambique-focused oil and gas explorer Cove Energy, but one analyst says the acquisition is a bad idea for the Thai oil company because it would hurt its balance sheet.
While tensions between Britain and Argentina have been rising as a natural response to the 30th anniversary of the Falkland Islands War, oil is the primary driver of a renewed Falkland dispute that will determine the fate of tens of billions of dollars in black gold.
Of all the major oil-producing countries in the world, only four are showing a long-term decline in production capacity by 2020. Factors like the recent showdown with Iran over its nuclear program are more influential, according to a Harvard University report.
Four and a half years of studies and five failed votes in the House of Representatives later, the massive Canadian-US pipeline is stuck at the Canadian border. And that won't change anytime soon.
Bears have been running the show at Magnum Hunter Resources, but yesterday the buying heated up.
The DOE's Energy Information Administration expects the cartel's share to remain at the current 40 percent, while US domestic output rises.
A new report shows sizable amounts of recoverable oil and natural as around the scenic island chain, but its location in the hurricane belt is already raising concerns about potential environmental damage.
Jonathan Barratt, CEO & Founder of Barratt's Bulletin, says that commodity investors have to sit on the sidelines, because there is no confidence in the market.