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Coal states look for new ways to turn carbon into cash

Coal states look for new ways to turn carbon into cash

Coal states pouring millions into clean coal research Coal states are hoping to create new ways to turn carbon into money-making enterprises after renewables and natural gas have taken a bite out of their market share and the world is moving to reduce its dependence on coal. State governments where coal is a major part […]

Opinion: Oil market flashes warning about stock levels in 2018

Opinion: Oil market flashes warning about stock levels in 2018

Oil market sending strong message to Permian producers to curb drilling By John Kemp LONDON, June 22 (Reuters) – Oil traders have become increasingly doubtful that OPEC will manage to cut crude stocks down to the five-year average in 2018 and keep them there. Calendar spreads for Brent futures throughout the rest of 2017 and […]

Oklahoma earthquake trends likely tied to wastewater injection

Oklahoma earthquake trends likely tied to wastewater injection

2017 forecasted seismic rates still significantly elevated compared with pre-2009 levels According to the U.S. Geological Survey (USGS), the number of earthquakes east of the Rocky Mountains has increased dramatically since 2009, according to the U.S. Energy Information Administration. More earthquakes in these areas have coincided with the increase in oil and natural gas production […]

OPEC supply cut may go deeper according to Iran, other delegates skeptical

OPEC supply cut may go deeper according to Iran, other delegates skeptical

Oil hit seven-month low despite OPEC supply cut deal Iran is hinting that the Organization of the Petroleum Exporting Countries are considering altering the OPEC supply cut deal to make the cuts deeper after oil prices continued to fall on Wednesday. But, Iran says clarity is needed on the effect of the current reduced level […]

Dakota Access Pipeline keeps delivering oil during legal battle

Dakota Access Pipeline keeps delivering oil during legal battle

Additional review of environmental impact of Dakota Access Pipeline underway A judge has ordered the Dakota Access Pipeline will continue to transport oil even though authorities are currently conducting an additional environmental impact review. Last week in Washington, US District Court Judge James Boasberg ruled in favour of the Standing Rock Sioux and Cheyenne River […]

Ford Focus production moves to China, company bets on low oil prices

Ford Focus production moves to China, company bets on low oil prices

Ford Focus production shift from Mexico to China called purely financial by company On Tuesday, Ford Motor Co announced it would move some production of its Ford Focus to China and import the vehicles to the US beginning in 2019. The move is seen as a long-term bet on low oil prices and stable US […]

US crude stocks, gasoline inventories fall: EIA

US crude stocks, gasoline inventories fall: EIA

US crude stocks down by 2.5 million barrels in week ending June 16 Data from the US Energy Information Administration showed US crude stocks and gasoline inventories fell last week, surprising analysts with a larger-than-anticipated draw. Crude stocks fell 2.5 million barrels in the week ending June 16.  Analysts had expected inventories to fall by […]

Opinion: Oil traders hunt for shale pain threshold

Opinion: Oil traders hunt for shale pain threshold

Most shale producers need $45-$50/barrel oil to break even By John Kemp LONDON, June 21 (Reuters) – Crude prices are likely to remain under pressure until there are signs the number of rigs drilling for oil in the United States is stabilising or reversing lower. U.S. exploration and production firms have hired 530 extra drilling […]

Opinion: Saudi Arabia eases austerity just as oil prices decline

Opinion: Saudi Arabia eases austerity just as oil prices decline

  In 2016 Saudi Arabia earned less than half from petroleum exports than in 2013 By John Kemp LONDON, June 21 Saudi Arabia’s decision to reverse some of last year’s austerity measures coincides with a renewed decline in oil prices and complicates the financial and economic outlook for the kingdom. All allowances, bonuses and financial […]

Growing octane needs widen price difference between premium, regular gasoline

Growing octane needs widen price difference between premium, regular gasoline

  Energy policy reforms in recent years promoted widespread use of ethanol as source of octane in gasoline The difference between U.S. average retail prices for premium and regular gasoline reached 50 cents per gallon in late 2016, and it has remained near that level so far in 2017, according to the U.S. Energy Information […]