Reuters/New York US crude oil production rose 269,000 bpd to a record 10.964mn bpd in July, led by record output from Texas and North Dakota, the US Energy Information Administration said in…
America’s off shore gulf wells pumping the most crude in decades
Shale oil can’t take all the credit for America’s rise to energy superpower, according to Bloomberg. Rigs in the green-blue waters of the US Gulf of Mexico pumped over 1.85mn bpd of…
Oil on biggest tear in decade as global supply cushion vanishes
Oil posted the longest string of quarterly gains in more than a decade as impending supply disruptions threaten to fracture a global market with little margin for error. Futures rose 1.6 percent…
Oil leap towards $100 softens blow of Russia sanctions
Bloomberg/London When former US President Barack Obama first imposed sanctions on Russia in 2014, a plunge in global crude prices turned the penalties into a crushing blow. This time round, oil markets…
Oil producers in Norway’s Arctic seek new options for gas export
Bloomberg/Oslo A group of oil companies led by Equinor ASA is taking a new look at options for exporting natural gas from the isolated Barents Sea in Norway’s Arctic. The nine companies…
SEC chairman says Tesla settlement in ‘best interests’ of shareholders
WASHINGTON (Reuters) – U.S. Securities and Exchange Commission chairman Jay Clayton said in a statement on Saturday that the agency’s settlement with carmaker Tesla was in the best interests of the U.S….
Chevron receives off er for its Rosebank fi eld stake in North Sea
Chevron Corp has re- ceived an off er for its stake in the Rose- bank project in the North Sea, months after the company said it plans to exit some fi elds…
Energy firms surge on Asia bourses as oil prices rise
AFP Hong Kong Most Asian markets rose yesterday, with energy firms surging along with oil prices, as traders await the conclusion of a key Federal Reserve policy meeting. While worries about the…
Pakistan and Russia to sign $10bn offshore pipeline deal
Internews Islamabad In a major breakthrough, Pakistan and Russia are set to sign a $10bn offshore gas pipeline deal today in Moscow, a project planned by the latter to capture the energy…
Educating Lebanon’s Oil and Gas Generation
It is now a very safe bet that the seabed off Lebanon’s coast contains enormous amounts of natural gas, and sound management of this resource could power a new era of unprecedented…