Daily News

Natural gas production to rise by a third if output locked in ONGC, OIL fields opens up

India’s natural gas production will rise by a third provided the output locked in a dozen fields of state-owned ONGC and OIL is opened up by giving remunerative market prices, people with knowledge of the matter said. India currently produces about 90 million standard cubic meters per day (mmscmd) of natural gas and has ambitious […]

By November 20, 2018 0 Comments Read More →

The Newest Sweet Spots In U.S. Shale

Over the past three years, the Permian has been the focus of both oil analyst and buyers’ attention. Most of the new drilling and asset acquisitions in America took place in the fastest-growing U.S. shale region, thanks to the Permian’s lower breakeven prices compared to other shale plays. The Permian continues to be a coveted […]

By November 20, 2018 0 Comments Read More →

IEA Chief Urges Oil Producers Not To Cut Output

While OPEC is considering cutting oil production again, the executive director of the International Energy Agency (IEA), Fatih Birol, called on Monday for ‘common sense’ because fresh cuts could have negative effects on the oil market. “Currently markets are very well supplied but we should not forget that spare capacity in Saudi Arabia is very […]

By November 20, 2018 0 Comments Read More →

This Diplomatic Breakthrough Could Slam Oil Prices

Iraq is set to bring long disrupted oil back online, adding fresh barrels to a market already weighed down by ample supplies across the globe. A little over a year ago, Kurdistan held a referendum on independence from Iraq, which passed with overwhelming support. The vote was non-binding, but was meant to lay down a […]

By November 20, 2018 0 Comments Read More →

Clearlake’s IronGate, Knight Merger Expands North American Oil, Gas Rental Services

Private equity giant Clearlake Capital Group LP is merging portfolio companies IronGate Energy Services and Knight Oil Tools to create Knight Energy Services as one of the largest independent oil and gas rental tool companies in North America. The merged company, to be headquartered in Houston, would provide rental and tubular services, manufacturing packages, drilling […]

By November 20, 2018 0 Comments Read More →

A Record Setting Week In Energy

U.S. oil prices on Thursday extended their rebound from a nearly one-year low, even as data from the U.S. government showed that domestic-crude supplies rose more than expected for an eighth week in a row. Tariq Zahir, managing member at Tyche Capital Advisors, said he wasn’t surprised to see a bounce in oil prices following […]

By November 19, 2018 0 Comments Read More →

Oil rises on expected OPEC cuts

Oil prices rose on Monday as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards year-end. Despite that, markets remained wary amid deep trade disputes between the world’s two biggest economies, the United States and China. Front-month Brent crude oil futures were at $67.21 per barrel at 0609 GMT, […]

By November 19, 2018 0 Comments Read More →

Why US Oil Production Won’t Peak Anytime Soon

The U.S. shale oil revolution continues to defy the skeptics, and the country is now producing a record 11 million barrels per day (MMbpd) of crude. Helped by higher prices, production has been up 18 percent since the start of this year alone. Output has exploded 120 percent over the past decade to heights not […]

By November 19, 2018 0 Comments Read More →

Bolstered by a strengthening economy, U.S. sets new record for petroleum demand in October

The American Petroleum Institute’s latest monthly statistical report showed U.S. petroleum demand in October was 20.8 million barrels per day (mb/d), the strongest for the month since 2006. The U.S. also set October records for gasoline demand at 9.5 mb/d; refining and petrochemical demand for liquid feedstocks, naphtha, and gasoil at 5.1 mb/d; and, refinery […]

By November 19, 2018 0 Comments Read More →

Russia’s $11 Billion Natural Gas Pipeline Is Primed to Fuel Europe

In the shadows of a long-silent East German nuclear reactor on the edge of the Baltic Sea, engineers are drilling, dredging, and digging in a forest clearing. As one set of workers shifts contaminated concrete and other radioactive materials from the Soviet-designed Greifswald plant, half a kilometer away contractors for Gazprom PJSC are building the […]

By November 19, 2018 0 Comments Read More →