Oil

Oil Shale

No One Expected U.S. Shale Oil Output Cuts to Happen So Fast

In brokering the end to the global oil-price war last month, the Trump administration assured leaders that America’s shale patch would throttle back production…

America：Alliant Energy Natural Gas Plant on Line

Public utility company Alliant Energy brought a natural gas-fired power plant on line today in Wisconsin.

Crude Oil

US WTI Crude Futures Rise Above $30/bl

U.S. benchmark WTI crude futures rose above $30 a barrel for the first time in two months.

LNG

Daewoo E&C Won a Liquefied Natural Gas Plant in Nigeria

The company will build a plant that can produce 8 million tons of LNG and additional facilities.

Oil Shale

U.S. Shale Could Crush the Oil Market Recovery

As the two petro-nations duked it out, the global oil glut ballooned to a massive oversupply and oil storage deficiency that persists today.

Oil Shale

Blackstone Shale Oil Venture Gavilan Resources Files for Bankruptcy

Blackstone Group’s Gavilan Resources LLC filed for Chapter 11 bankruptcy late on Friday.

Oil & Gas Trade

Saudi Oil Rush Threatens to Disrupt Stabilizing U.S. Crude Market

An armada of Saudi tankers brimming with crude heading to American shores is raising concern over storage space just as a U.S. glut shows signs of easing.

Saudi Wealth Fund Builds Stakes in Canadian Natural, Suncor

Saudi Arabia’s sovereign wealth fund built stakes in two major Canadian oil sands players during the energy market rout.

Oil & Gas Trade

Pandemic Punches 1.7-Billion-Barrel Hole in Global Oil Demand

The scale of the demand hit means that despite producers implementing unprecedented output cuts, stockpiles will soar this year.

Oil & Gas Trade

Saudi Loss of China Oil Market Share Likely Brief

Saudi Arabia’s loss of oil market share in China last month to Russia and Iraq is likely to be fleeting, with analysts saying shipments from the kingdom to Asi…

Oil & Gas Trade

OPEC+ Responds to Oil Market Collapse with Surprise Urgency

​The 23-nation coalition is well on its way to cutting 9.7 million barrels of daily crude output, roughly 10% of global supplies.

Oil & Gas Trade

US Oil, Gas Rig Count Hits Record Low for Second Consecutive Week

The rig count, an early indicator of future output, fell by 35 to a record low of 339 in the week to May 15, according to data from energy services firm Baker H…

Solar Power Plant

‘World’s Largest Concentrated Solar Plant’ Progresses Despite Covid-19

Global oil refining production could start rebounding in June, the International Energy Agency said on Thursday, but refiners’ margins may be squeezed due to r…

Oil Shale

U.S. Shale Needs To Slow Down To Survive

Global oil refining production could start rebounding in June, the IEA said on Thursday, but refiners’ margins may be squeezed due to rising crude prices as pr…

Crude Oil

China Crude Oil Runs Rebound in April as Fuel Demand Picks Up

The country processed a total of 53.85 million tonnes of crude oil last month, data from the National Bureau of Statistics (NBS) showed on Friday, equivalent to…