Archive for November, 2016
US crude inventories fall unexpectedly, big distillate build
US crude inventories down 884,000 barrels By David Gaffen Nov 30 (Reuters) – US crude inventories fell unexpectedly last week, while distillate inventories rose sharply, the Energy Information Administration’s data showed on Wednesday. Crude inventories fell 884,000 barrels in the week to Nov. 25, compared with analysts’ expectations for an increase of 636,000 barrels. That came despite […]
US crude output falls 167,000 b/d to 8.58 million bpd in Sept
US crude output down in Gulf of Mexico, up in Texas By Jessica Resnick-Ault NEW YORK, Nov 30 (Reuters) – US crude output fell 167,000 barrels per day to 8.58 million b/d in September from August, the U.S. Energy Information Administration said Wednesday in a monthly report. Production declined by 139,000 b/d in the offshore Gulf of […]
Oil prices jump over 10 per cent as OPEC finalizes output cut deal
Oil prices jump, but market sceptical about effectiveness of OPEC deal By Jessica Resnick-Ault NEW YORK, Nov 30 (Reuters) – Oil soared more than 10 per cent on Wednesday to over $50 a barrel and its highest in a month as some of the world’s largest producers agreed to curb production for the first time […]
Obama moves to lock in fuel efficiency standards
Automakers critical of Obama administration’s fuel efficiency standards By David Shepardson WASHINGTON, Nov 30 (Reuters) – The U.S. Environmental Protection Agency on Wednesday said it will push to lock in fuel efficiency standards central to outgoing President Barack Obama’s climate policy before the Trump administration takes over in January. Automakers had appealed to President-elect Donald Trump, […]
OPEC output cut: First joint oil cut with Russia since 2001, Saudis take “big hit”
OPEC output cut will help clear supply overhang By Rania El Gamal, Alex Lawler and Ahmad Ghaddar VIENNA, Dec 1 (Reuters) – OPEC has agreed its first oil output cuts since 2008 after Saudi Arabia accepted “a big hit” on its production and dropped its demand on arch-rival Iran to slash output, pushing up crude prices by around […]
Environmental think tank: With pro-gas policies, US can “Outperform” Paris emission targets
Breakthrough Institute found natural gas prevented 17x more CO2 emissions than wind, solar, geothermal combined By Seth Whitehead, EnergyInDepth Many environmentalists have bemoaned the election results as nothing short of a “nightmare” for international efforts to address climate change. But a new report by researchers that Time Magazine has called “heroes of the environment” illustrates why […]
Russia joins OPEC deal, ready to cut oil output by 300,000 b/d in H1
OPEC deal first since 2008 By Denis Pinchuk MOSCOW, Nov 30 (Reuters) – Russia is ready to cut oil production “gradually” by up to 300,000 barrels per day (bpd) in the first half of next year as part of an agreement with OPEC, Russian Energy Minister Alexander Novak said on Wednesday. “Russia is ready to […]
Trans Mountain pipeline close to meeting British Columbia conditions
Premier Clark says three of five Trans Mountain conditions met VANCOUVER, Nov 30 (Reuters) – The Canadian government is close to meeting conditions British Columbia has laid out for provincial support of Kinder Morgan Inc’s proposal to expand its Trans Mountain pipeline, the province’s premier Christy Clark said on Wednesday. Clark said Ottawa had met […]
Tighter marine fuel sulfur limits will spark changes by refiners, vessel operators
Infrastructure to support the use of LNG as a shipping fuel is currently limited in both scale and availability The sulfur content of transportation fuels has been declining for many years as a result of increasingly stringent regulations, according to the US Energy Information Administration. In the United States, federal and state regulations limit the […]
Saudi Arabia carries on drilling despite oil slump: Kemp
Increased number of rigs over the last 5 years is indication Saudi Arabia investing significantly to maintain output By John Kemp LONDON (Reuters) – Saudi Arabia is one of the very few countries which has increased its drilling for new oil and gas wells since prices began to slump in the middle of 2014. The number […]
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