So far this winter, Europe has been the biggest buyer of US liquefied natural gas, and despite the fact that the key reason has been profit rather than politics, US LNG has increased its share of a market dominated by pipeline supplies from Russia and Norway.
US officials and LNG industry...
Russia remained China's top crude oil supplier in 2018 by boosting shipments 20% year on year to 1.44 million bpd, while the US ended the year with a robust 60% growth in shipments to Asia's biggest oil consumer, despite trade tensions squeezing volumes towards the later part of the year.
Among...
The head of a US shale oil company on Thursday sang the praises of OPEC for its price-bolstering production cuts of the last two years, a message the organization's secretary general Mohammed Barkindo said he hopes US President Donald Trump is hearing.
"OPEC members play a very important role...
OPEC and its allies do not rule out taking further action at their next meeting in April should oil inventories build up in the first quarter, OPEC’s secretary general told Reuters.
Worried by a drop in oil prices and rising supplies, OPEC and non-OPEC countries such as Russia agreed in December...
Russia’s government approved on Thursday a ten-year modernization program for Russian power plants, expected to attract $28.8 billion in private investments in the sector, Energy Minister Alexander Novak said.
"The government approved today a plan to upgrade nearly 40 gigawatts of installed...
South Korea imported no Iranian crude for the fourth straight month in December due to the re-imposition of US sanctions on Tehran, while intakes from the US and Kazakhstan rose sharply as alternative sources, data released by Korea National Oil Corp showed.
South Korea has fully suspended crude...
Venezuela’s state-run oil company PDVSA said on Tuesday its debt fell 5% in 2018 from a year ago to $34.6 billion, though it remains in default on most of its bonds as crude output has slumped to 70-year lows in an economic crisis.
PDVSA, which is short for Petroleos de Venezuela, S.A., has not...
The majority of senior energy industry executives expect to maintain or increase spending this year to meet demand for oil and gas after years of austerity, a survey by DNV GL shows.
DNV, a technical adviser to the energy industry, surveyed 791 senior professionals from firms with annual revenue...
The International Monetary Fund Monday cut its forecast for average oil prices to just below $60 per barrel in 2019 from close to $70 per barrel in its last World Economic Outlook in October on concerns about global economic growth.
Further out, the IMF predicted oil prices would also average...
Oil prices fell on Monday, in line with weaker stock markets after evidence that economic growth in China, the world’s second largest crude consumer, eased in 2018.
Brent crude oil futures were last down 35 cents on the day at $62.35 a barrel, while US crude futures were down 23 cents at $53.57...