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Group delays stock offer for 25 percent of Cepsa due to market 'instability'

Energy News // 6 hours ago

Group delays stock offer for 25 percent of Cepsa due to market 'instability'

Oct. 15 (UPI) -- The Abu Dhabi-based Mubadala group cited "markets instability" as it on Monday delayed selling a 25 percent stake in the Spain-based oil company Cepsa.

Chinese companies said to be planning a $2B refinery in Iran

Energy News // 9 hours ago

Chinese companies said to be planning a $2B refinery in Iran

Crude oil prices cool down after volatile morning with Saudi Arabia

Energy News // 11 hours ago

Crude oil prices cool down after volatile morning with Saudi Arabia

Saudi Arabia minister offers to continue to serve as oil cushion, calming markets

Energy News // 12 hours ago

Saudi Arabia minister offers to continue to serve as oil cushion, calming markets

High energy prices threaten economic damage, but likely to continue: IEA

Energy News // 3 days ago

High energy prices threaten economic damage, but likely to continue: IEA

Oct. 12 (UPI) -- Expensive energy, including prices of oil, gas and coal at "multi-year" highs, pose a threat to economic growth worldwide, the Paris-based IEA said.

BSEE: One-third of Gulf oil output remains 'shut-in' two days after Michael

Energy News // 3 days ago

BSEE: One-third of Gulf oil output remains 'shut-in' two days after Michael

Oct. 12 (UPI) -- Just under one-third of Gulf of Mexico oil output remains 'shut-in' two days after Hurricane Michael made landfall along the North Florida coast

Mexican legislators question top energy officials over corruption, reform

Energy News // 3 days ago

Mexican legislators question top energy officials over corruption, reform

Oct. 12 (UPI) -- The Mexican Congress questioned top energy officials over bribery corruption, rampant fuel theft, declining investment, and the energy reform.

Crude oil creeps up after losing $5 a barrel in Wall Street selloff

Energy News // 3 days ago

Crude oil creeps up after losing $5 a barrel in Wall Street selloff

Oct. 12 (UPI) -- Brent prices fell nearly $5 a barrel in two days as oil prices recoil from a Wall Street selloff.

OPEC: Venezuelan, Iranian monthly oil production down in September

Energy News // 4 days ago

OPEC: Venezuelan, Iranian monthly oil production down in September

Oct. 11 (UPI) -- Oil production in Venezuela, a country with the world's biggest reserves, reached a new low in September as it goes through political and economic instability.

Oil prices plummet with stock market; Trump doubles down on Iran oil sanctions

Energy News // 4 days ago

Oil prices plummet with stock market; Trump doubles down on Iran oil sanctions

Oct. 11 (UPI) -- Crude oil prices continued to fall along with the stock market Thursday while President Donald Trump had strong words for countries that ignore U.S. oil sanctions.

U.S. should brace for higher heating bills, potential supply issues

Energy News // 4 days ago

U.S. should brace for higher heating bills, potential supply issues

Oct. 11 (UPI) -- U.S. heating bills are likely to see significant increase this winter, as well as potential supply issues, according to new analysis.

Murphy takes over Petrobras Gulf of Mexico assets in $1.1B JV deal

Energy News // 4 days ago

Murphy takes over Petrobras Gulf of Mexico assets in $1.1B JV deal

Oct. 11 (UPI) -- Murphy Oil has taken over Petrobras's Gulf of Mexico assets in a joint-venture accord that included $1.1 billion purchase of an 80 percent stake.

Bullish on natural gas, Shell announces new North Sea investment

Energy News // 5 days ago

Bullish on natural gas, Shell announces new North Sea investment

Oct. 10 (UPI) -- Shell UK announced Wednesday a gas investment decision in the North Sea one day after the CEO of Royal Dutch Shell said he expected fast growth in natural gas demand.

Crude oil prices slip as Hurricane Michael hits the Florida Panhandle

Energy News // 5 days ago

Crude oil prices slip as Hurricane Michael hits the Florida Panhandle

Oct. 10 (UPI) -- Crude oil prices plummeted again Wednesday morning despite Hurricane Michael lashing the Florida coast as a Category 4 storm.

Pemex: Shallow water discovery may add 180 million barrels in reserves

Energy News // 5 days ago

Pemex: Shallow water discovery may add 180 million barrels in reserves

Oct. 10 (UPI) -- Mexican state oil company Pemex confirmed discoveries in the country's southeast basin that would allow it to add up to 180 million barrels to its proven reserves.

BP expects 25 percent lower oil prices after period of volatility

Energy News // 5 days ago

BP expects 25 percent lower oil prices after period of volatility

Oct. 10 (UPI) -- BP assumes oil prices will drop to $60-$65 per barrel after a period of extreme volatility as supply and demand is balanced, and disruptions may only cause dislocation.

Total, Saudi Aramco sign accord to build petrochemical complex

Energy News // 6 days ago

Total, Saudi Aramco sign accord to build petrochemical complex

Oct. 9 (UPI) -- Total and Aramco inked a FEED accord for a petrochemical plant in eastern Saudi Arabia that represents a $5-billion investment and will be operational by 2024.

Russia minister considers joining OPEC unnecessary, unreasonable

Energy News // 6 days ago

Russia minister considers joining OPEC unnecessary, unreasonable

Oct. 9 (UPI) -- Russia's Energy Minister Novak considers it unnecessary for Russia to join OPEC because the current relationship is functional and without legal obligations.

Gas prices highest in four years for fall season

Energy News // 6 days ago

Gas prices highest in four years for fall season

Oct. 9 (UPI) -- Gasoline prices gained 3 cents on the week to $2.91 per gallon and are at the highest level for a fall season in four years. They are likely to remain high.

Crude oil prices tick up as Hurricane Michael targets the Florida panhandle

Energy News // 6 days ago

Crude oil prices tick up as Hurricane Michael targets the Florida panhandle

Oct. 9 (UPI) -- Oil prices were up in mid-day trading Tuesday as Hurricane Michael barrels toward the Florida panhandle.

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