Daily News

China unlikely to repeat LNG import surge this winter

China is unlikely to see a repeat surge in liquefied natural gas (LNG) imports this coming winter as the world’s largest energy consumer has learned from the previous cold season to keep demand under control, the head of Unipec said on Tuesday. “Last year was a special year,” Chen Bo, president of Unipec, the trading […]

Democrats fight over Ryan Zinke’s plan to use energy revenue to fix national parks

Pipeline leaks, broken bathrooms, and potholed roads at America’s national parks have pushed some Democrats to hold their nose and support a Trump administration idea on how to fix it. Interior Secretary Ryan Zinke has proposed paying for billions of dollars of repairs and maintenance in national parks with money the government collects from the […]

The New War Over Ethanol, And How It Might Affect You

A seemingly small action from the Environmental Protection Agency could spark a new war between Big Oil and Big Ag that could have far-reaching effects on the U.S. agricultural, energy, and transportation industries. Last month the EPA granted an exemption to one of the largest refiners in the United States, allowing Andeavor (NYSE: ANDV), formerly […]

Halliburton remains committed to Venezuela

Oilfield services company Halliburton said it was still committed to the market in Venezuela, even as its Latin American segment saw quarterly revenue decline. Halliburton recorded revenue of $457 million for the first quarter from its Latin American operations, down 1 percent from the same time last year. The company attributed part of the decline […]

Collapse of Russia-Saudi Oil Deal Could Push Prices Down

As the market reaction to the strikes on Syria demonstrated, increased tensions in the Middle East often force oil prices higher. Until some easing of the markets Thursday, crude had been trading at the highest level in more than three years: Observers understandably worry about production disruptions or the interference in the shipping of crude […]

Oil prices recover from Trump tweet

Despite a tweet Friday morning from President Donald Trump calling out OPEC and Russia over collusion, the price of oil rose slightly higher and was up for the week. West Texas Intermediate contracts for May delivery closed Friday at $68.38 per barrel, up 9 cents (0.13 percent) on the day and up 99 cents (1.47 […]

Can $80 Oil Be Justified?

Oil prices could reach $80 a barrel in April, although such a price would not be justified by market fundamentals, Russia’s Energy Minister Alexander Novak said on Friday. Asked whether $80 oil is a fair price for oil, Novak told reporters at the end of an OPEC/non-OPEC ministerial meeting in Saudi Arabia that he couldn’t […]

Don’t listen to the noise — it’s not ‘mission accomplished’ just yet, Saudi oil minister says

OPEC kingpin Saudi Arabia warned oil traders on Friday that a dramatic upswing in crude futures was little reason to become complacent. Speaking to reporters in Jeddah, Saudi Arabia, the kingdom’s Energy Minister, Khalid al-Falih, told CNBC’s Steve Sedgwick: “We have to be patient. We shouldn’t jump the gun, we shouldn’t be complacent and listen […]

Arctic wilderness area in Alaska to be opened to drilling

An initial step toward opening up an Arctic wilderness area in Alaska to oil and gas development unveils a revenue stream for the state, the governor said. A document published Friday in the Federal Register by the U.S. Interior Department outlined plans for a leasing environmental impact statement for an oil and gas leasing plan. […]

‘Boom time’ for US oil, gas producers

Oil prices have skyrocketed since the end of 2016, reaching a 3 1/2-year high this week and natural gas prices are at a 3-year high. One of the more painful downturns for the domestic petroleum business is now turning into a distant memory. After losses for a number of years, U.S. oil producers may finally […]