Energy News

Apr 18 - Spain's Repsol suspends swap deal for Venezuelan oil under U.S. pressure
Spain's Repsol has suspended its swaps of refined products for crude with Venezuela's state-run oil company PDVSA, people familiar with the matter said, as U.S. officials weigh penalties for foreign firms doing business with Venezuela. The Spanish oil company has been swapping fuel and waiving payments due from a joint venture with PDVSA in exchange for crude, even as the United States rolled out new sanctions aimed at ousting Venezuela's socialist President Nicolas Maduro.

Apr 18 - Aramco in talks to buy stake in refining business of India's Reliance
Saudi Aramco, the world's biggest oil producer, is in talks to buy a stake of atleast 20 percent in the refining and petrochemicals businesses of India's Reliance Industries Ltd, sources familiar with the matter said on Wednesday. State-owned Aramco plans to boost investments in refining and petrochemicals to secure new markets for its crude, and sees growth in chemicals as central to its downstream strategy to lessen the risk of a slowdown in oil demand.

Apr 18 - Australia's GrainCorp flags $29 mln earnings hit as China probes barley imports
Australia's GrainCorp Ltd said on Thursday it will take a A$40 million ($28.7 million) hit to half-year earnings, blaming international trade tensions and a severe drought, sending its shares to a three-week low. The country's largest listed agribusiness did not give further details, but industry sources said there had been a slowdown in Chinese demand for barley as Beijing considers whether to introduce tariffs on Australian supplies.

Apr 18 - U.S. crude stockpiles drop unexpectedly last week - EIA
U.S. crude oil stockpiles fell unexpectedly last week as imports dropped, while gasoline and distillate inventories decreased less than forecasts, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.4 million barrels in week to April 12, compared with analysts' expectations for an increase of 1.7 million barrels. A majority of the decline came from the Midwest region, where inventories fell 2.4 million barrels to 135.3 million barrels.

Apr 18 - Energy Secretary Perry planning to leave Trump administration - source
U.S. Energy Secretary Rick Perry is planning to leave the Trump administration, but his departure is not imminent, a source familiar with the situation said on Wednesday.
Perry, a former governor of Texas who has taken a leading role in President Donald Trump's policy of boosting energy production, has been finalizing his departure, the source said.

Apr 18 - Indian refiners turn to OPEC, Mexico, U.S. to make up Iran oil gap
Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the United States to make up for any loss of Iranian oil if the U.S. enforces sanctions more harshly from next month, sources and company officials said. All four Indian state-owned refiners that buy Iranian oil are confident of securing additional barrels from other producers, officials from the companies told Reuters.

Apr 18 - U.S. shale producers see rising ultralight crude output hitting pricing
Much of the new crude coming from the top U.S. shale field is so light that it is starting to affect pricing for the region's oil, producers attending an energy conference this week said. Permian producers generally sell their crude at WTI benchmark prices, but rising supplies of ultralight oil may require them to offer $1 to $2 a barrel discounts to refiners requiring heavier grades, some said. 

Apr 18 - Petrobras hikes diesel price, eyes divestments amid investor unease
Brazilian state-run oil firm Petroleo Brasileiro SA hiked diesel prices on Wednesday, and executives said the firm could expand its already aggressive divestment plan while arguing the company was completely free of political interference. In an impromptu news conference at the Rio de Janeiro headquarters of Petrobras, as the company is known, Chief Executive Roberto Castello Branco announced a diesel price hike of 10 cents per liter and said Petrobras has complete control over its pricing strategy.

Apr 18 - White House will tie Iran sanctions review to response by Saudi Arabia: Kemp
The White House will have to weigh costs and benefits carefully before tightening sanctions on Iran and Venezuela further – and decide whether the economic price is worth the diplomatic gains. If the White House toughens sanctions on Iran and Venezuela significantly (and the next decision on Iran sanctions is scheduled for the first week of May) any decision is likely to be tied to production increases by Saudi Arabia.

Apr 17 - China March refinery runs ease off record, crude output accelerates
Refinery output in China, the world's second-largest oil consumer, eased from record highs in March after maintenance shutdowns offset production from a new mega refinery. Refinery throughput in March rose 3.2 percent from a year earlier to 53.04 million tonnes, or 12.49 million barrels per day (bpd), data from the National Bureau of Statistics showed on Wednesday.

Apr 17 - Upstart Russian oil firm, with Goldman Sachs backing, bucks industry blues
In the frozen taiga of eastern Siberia, where bears roam in spring after waking from hibernation, an independent Russian oil company is bucking the domestic industry trend by rapidly ramping up its output and expanding operations. Irkutsk Oil Company, known by the Russian acronym INK, has increased its crude production levels 30-fold over the past decade and has negotiated access to a pipeline network that allows it reach the Asian market.

Apr 17 - Aramco in talks for 25 pct of Reliance's refining, petrochemical units - report
Saudi Aramco, the world's largest crude oil producer, is in "serious discussions" to acquire up to a 25 percent stake in Reliance Industries' refining and petrochemicals businesses, the Times of India reported on Wednesday. A minority stake sale could fetch around $10 billion to $15 billion, valuing the Indian company's refining and petrochemicals businesses at around $55 billion to 60 billion, the report said.

Apr 17 - Brazil government pledges to keep hand off Petrobras
Petroleo Brasileiro SA's market-based diesel pricing policy remains unchanged and Brazil's president has no intention of meddling in Petrobras' internal affairs, high-ranking government officials said on Tuesday. A call by President Jair Bolsonaro last week to the chief executive of Petrobras led the state-run company to call off a sharp diesel price increase and revived investor fears about political influence, hammering the share price of Petrobras.

Apr 17 - Turkey expects Washington to extend sanctions waiver on Iran oil
Turkey expects the United States to extend a waiver granted to Ankara to continue oil purchases from Iran without violating U.S. sanctions, Turkish presidential spokesman Ibrahim Kalin said on Tuesday. The U.S. reimposed sanctions in November on exports of Iranian oil after President Donald Trump unilaterally pulled out of a 2015 nuclear accord between Iran and six world powers. Washington is pressuring Iran to curtail its nuclear program and stop backing militant proxies across the Middle East.

Apr 17 - Venezuela's Guaido to seek to annul $8.7 bln Conoco award
Venezuelan opposition leader Juan Guaido will seek to annul an $8.7 billion arbitration award to U.S. oil producer ConocoPhillips as he moves to preserve foreign assets, Guaido's chief legal representative said on Tuesday. If accepted, the annulment request would halt enforcement of the award over the 2007 loss of Conoco's projects in the South American country. 

Apr 17 - Climate change targets are slipping out of reach: Kemp
For all the commentary around a transition to a clean energy system, the amount of carbon dioxide (CO2) in the atmosphere is still continuing to rise rapidly and shows no sign of slowing down. Climate change targets are slipping out of reach as the concentration of CO2 in the atmosphere continues to march higher, leaving policymakers confronting uncomfortable choices.

Apr 16 - U.S. shale output forecast to hit record 8.46 million bpd in May - EIA
U.S. crude oil output from seven major shale formations is expected to rise by about 80,000 barrels per day (bpd) in May to a record 8.46 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday. The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 42,000 bpd to a fresh peak of about 4.14 million bpd in May.

Apr 16 - Hyundai Heavy says Aramco buys 17 pct stake in S.Korean refiner unit for $1.2 bln
The biggest shareholder in South Korean oil refiner Hyundai Oilbank said on Monday that state-owned Saudi Aramco had agreed to buy a 17 percent stake in its oil processing operations for 1.4 trillion won ($1.24 billion). Hyundai Heavy Industries Holdings said in a regulatory filing that it had signed a sales agreement with Saudi Aramco that included an option for Aramco to buy an additional 2.9 percent stake in Hyundai Oilbank.

Apr 16 - Hedge funds' oil positions start to look stretched
Hedge fund managers continue to accumulate positions in crude and gasoline in the most sustained bull market since 2017 but the market is starting to look stretched and the balance of risks is shifting to the downside. Hedge funds and other portfolio managers have boosted their net long position in the six most important petroleum futures and options contracts by 503 million barrels over the last 13 weeks.

Apr 16 - Petrobras CEO denies government interference after diesel price hike canceled
Roberto Castello Branco, chief executive officer of oil company Petroleo Brasileiro SA, denied there was government interference even after the state-controlled oil company delayed a diesel price hike after a call from President Jair Bolsonaro. Castello Branco, the CEO of Petrobras, said President Bolsonaro warned him in the call about the risks of a potential new truckers strike if diesel prices rose.

Apr 15 - Iran says U.S. pressures on Iran, Venezuela making oil market fragile
Iran's oil minister said on Sunday that U.S. sanctions on Iran and Venezuela and tensions in Libya have made the supply-demand balance in the global oil market fragile, and warned of consequences for increasing pressures on Tehran. Oil prices have risen more than 30 percent this year on the back of supply cuts led by the Organization of the Petroleum Exporting Countries and U.S. sanctions on oil exporters Iran and Venezuela, plus escalating conflict in OPEC member Libya. 

Apr 15 - Abu Dhabi's pension fund joins KKR, BlackRock in ADNOC pipeline deal
Abu Dhabi National Oil Company (ADNOC) said on Sunday that Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF) has signed a deal to invest in a pipeline infrastructure entity that ADNOC is setting up with BlackRock and KKR. ADRPBF will invest 1.1 billion dirhams ($300 million) and will acquire a 3 percent stake in the newly formed entity, ADNOC Oil Pipelines, with BlackRock and KKR together holding 40 percent and ADNOC the remaining 57 percent, ADNOC said in a statement.

Apr 15 - Row with U.S. energy trader worsens Haiti's fuel crisis
A dispute between Haiti and a U.S. energy trading firm is leading to long blackouts and fuel shortages in the Caribbean nation, feeding anger at President Jovenel Moise's government following the collapse of a supply deal with Venezuela last year. The capital Port-au-Prince’s fragile power grid was dealt a blow when Novum Energy Trading Corp suspended shipments in February, leaving residents without electricity for days and many gas stations with no fuel at the pumps.

Apr 15 - China's commodity imports look tepid, may be slightly warmer: Russell
If you were looking for evidence that China's economy has lost momentum, you may be tempted to think that you've found it in the unimpressive growth, or lack thereof, in imports of major commodities in the first quarter. Customs data for the first quarter show only crude oil has recorded significant growth in import volumes in the first quarter, with copper data mixed and iron ore and coal dropping. 

Apr 15 - No further cut to Pemex credit rating expected - Mexican minister
Mexican Finance Minister Carlos Urzua said on Saturday he does not expect rating agencies to further downgrade the credit rating of state-owned energy company Pemex. With $106 billion in financial debt, Pemex is the world's most indebted oil company and is teetering on the brink of having its debt downgraded to below investment grade.

Apr 15 - Russia, OPEC may ditch oil deal to fight for market share - Russian minister
Russia and OPEC may decide to boost production to fight for market share with the United States but this would push oil prices as low as $40 per barrel, TASS news agency сited Russia's Finance Minister Anton Siluanov as saying on Saturday. "There is a dilemma. What should we do with OPEC: should we lose the market, which is being occupied by the Americans, or quit the deal?" Anton Siluanov, speaking in Washington, said, TASS reported.

Apr 15 - Chevron's Anadarko deal to pressure U.S. shale producers to explore sales
Oil major Chevron Corp's $33 billion deal on Friday to acquire Anadarko Petroleum Corp has some investors and industry executives asking whether it is time for other U.S. shale oil and gas producers to consider selling themselves. Anadarko has been one of the pioneers of the shale revolution, which turned the United States into the world's biggest oil producer, overtaking Russia and Saudi Arabia.

Apr 15 - U.S. EPA revives provision that may name refiners applying for biofuel waivers
The U.S. Environmental Protection Agency on Friday took the first step to revive part of a rule that could, if finalized, reveal the names of oil refineries which applied for exemptions from the nation's biofuel laws. The move is seen as a win for the corn industry, which has criticized the waiver program due to its lack of transparency. 

Apr 15 - Hedge funds raise bullish crude bets in latest week - CFTC
Hedge funds and other money managers raised their bullish bets on U.S. crude in the week to April 9, as prices rose and oil touched a five-month high, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group raised its combined futures and options position in New York and London by 30,726 contracts to 281,713 during the period. 

Apr 15 - U.S. drillers add oil rigs for second week in a row -Baker Hughes
U.S. energy firms this week increased the number of oil rigs operating for a second week in a row with crude futures up more than 40 percent so far this year. Companies added two oil rigs in the week to April 12, bringing the total count to 833, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.

Apr 12 - Russia cashes in as European oil refiners pay for U.S. sanctions
European refiners are paying the price for U.S. oil sanctions on Venezuela and Iran as they scramble to replace the sour crude Washington has blocked from the global market with increasingly expensive Russian oil, trading sources said and data showed. Compounding the impact of sanctions, OPEC members have mainly cut sour crude output as part of their deal with allied producers to boost oil prices while a large, new refinery, designed to run on sour oil, has just started up in Turkey.

Apr 12 - OPEC could raise oil output if prices increase, shortages mount - sources
OPEC could raise oil output from July if Venezuelan and Iranian supply drops further and prices keep rallying, because extending production cuts with Russia and other allies could overtighten the market, sources familiar with the matter said. Venezuelan crude production has dropped below 1 million barrels per day (bpd) because of U.S. sanctions. 

Apr 12 - U.S. super-light oil output rise roils Texas, Oklahoma markets
Growing production of Texas super-light oil - and worries about its quality compared with other types of crude - is slowing down deliveries into the main U.S. storage hub in Oklahoma, draining supply there and adding to a glut in Texas. In the last several months, drillers are producing more oil known as West Texas Light (WTL), a type of crude that differs from what is blended at the Cushing, Oklahoma hub to produce the benchmark U.S. oil grade.

Apr 12 - Venezuela oil output plummets to 870,000 bpd on outages, sanctions - IEA
Global oil supply dropped in March as U.S. sanctions and power outages pushed Venezuela's crude output to a long-term low of 870,000 barrels per day (bpd), the International Energy Agency said on Thursday, even lower than OPEC reported the day before. "The blackouts are an additional challenge for Venezuela's oil sector, already set back by economic collapse, corruption, mismanagement and - more recently - by U.S. sanctions," the Paris-based IEA said in its monthly report.

Apr 12 - U.S. EPA may grant fewer biofuel waivers due to low credit prices - Wheeler
The U.S. Environmental Protection Agency could grant fewer waivers exempting small refineries from the country's biofuel policy as lower prices for blending credits have reduced the cost of compliance, the agency's administrator Andrew Wheeler told Reuters on Thursday. The Trump administration's use of such waivers to save the oil industry money has become a lightning rod of controversy for the powerful corn lobby, which claims the exemptions have been over used and threaten demand for corn-based ethanol at a time farmers are already struggling.

Apr 12 - As conflict flares once more, what's at stake for Libya's oil ?
Eastern-based Libyan forces commanded by Khalifa Haftar launched an offensive last week to take control of Tripoli, the capital, plunging the OPEC country into a new round of armed conflict. Haftar's Libyan National Army (LNA) faces fierce resistance from rival military groups, and oil prices have risen above $70 per barrel on fears of new losses to Libyan production. 

Apr 12 - Arrival of Putin's judo partner squeezed Shell out of LNG project: sources
Royal Dutch Shell pulled out of a project to build a Russian liquefied natural gas plant partly because Gazprom suddenly added another partner with links to an ally of President Vladimir Putin, according to five sources. After three years work on the Baltic Coast project, Shell discovered that Gazprom was bringing in a company linked to Arkady Rotenberg, who is on a U.S. sanctions blacklist.

Apr 11 - Venezuela reports collapse in oil supply, tightening global market - OPEC
Venezuela's oil output sank to a new long-term low last month due to U.S. sanctions and blackouts, the country told OPEC, deepening the impact of a global production curb and further tightening supplies. Supply cuts by OPEC and partners led by Russia, plus involuntary reductions in Venezuela and Iran, have helped drive a 32 percent rally in crude prices this year, prompting pressure from U.S. President Donald Trump for the group to ease its market-supporting efforts.

Apr 11 - Trump signs orders targeting states' power to slow energy projects
President Donald Trump signed two executive orders in the heart of the Texas energy hub on Wednesday targeting the power of states to delay natural gas, coal and oil projects as he looks to build support ahead of next year's election. Trump's orders direct his Environmental Protection Agency to change a part of the U.S. clean water law that has allowed states to delay projects on environmental grounds. 

Apr 11 - Climate goals could sink oil demand from mid 2020s - LGIM
Legal and General Investment Management (LGIM), which manages assets worth 1 trillion pounds ($1.3 trillion) worldwide, said oil demand could start to decline from 2025 if countries impose strict policies to curb climate change. The impact of moves to ensure the global rise in temperature remains below 2 degrees could be such that by the early 2040s oil demand would have dropped by around 40 percent from current levels to below 60 million barrels a day, LGIM said in a report published on Thursday.

Apr 11 - U.S. crude stockpiles surge to 17-month high; steep gasoline drawdown - EIA
U.S. crude oil stocks rose more than expected last week to the highest in nearly 17 months as imports climbed, while gasoline inventories posted their steepest drawdown since September 2017, the Energy Information Administration said on Wednesday. Crude inventories  rose 7 million barrels to 456.6 million barrels in the last week, their highest since November 2017, compared with analysts' expectations for an increase of 2.3 million barrels.

Apr 11 - How Trafigura lost $254 million on oil and gas hedges
One of the world's biggest traders, Trafigura, booked a $254 million loss from oil and gas market hedges last year, highlighting the challenges traders face when taking large loans to protect against price swings in illiquid commodities. To be sure, those losses are on paper and could be eliminated or turn into gains in the future if the market turns in Trafigura's favour. 

Apr 11 - Brazil's transfer-of-rights oil area: What's next?
Brazil's government and state-controlled oil company Petroleo Brasileiro SA have settled a long-running dispute about one of the world's most promising offshore oil areas, clearing the way for a blockbuster auction later this year. The national energy council announced on Tuesday that the government would pay Petrobras, as the company is known, $9.058 billion to end their contract dispute regarding the "transfer of rights area" (TOR). 

Apr 11 - Aramco bonds' modest gains suggest demand was inflated - sources
Saudi Aramco's debut $12 billion bonds booked at best modest gains on Wednesday, their first trading day after some $100 billion in orders, suggesting part of the record-breaking demand was inflated, three banking and investment sources said. Aramco chose to only issue $12 billion of debt, as its focus was to obtain favourable pricing to set a benchmark for its future financing activities.

Apr 10 - Aramco sells $12 billion bonds out of record $100 billion demand
Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking vote of market confidence for the oil giant which has faced investor concerns about government influence over the company. State-owned Aramco's bond issue, split into maturities ranging from three to 30 years, is seen as a gauge of potential investor interest in the Saudi company's eventual initial public offering.

Apr 10 - U.S. shale producers turn to jobs cuts as investor pressures mount
Having slashed spending plans and run out of willing buyers for assets, some U.S. shale producers are turning to workforce cuts as investors step up demands for returns. Pioneer Natural Resources Co, one of the largest producers in the Permian Basin of West Texas and New Mexico, and Laredo Petroleum Inc another Permian producer, this week disclosed plans to shed workers.

Apr 10 - EIA raises forecast for 2019 U.S. crude output growth
U.S. crude oil production is expected to rise by 1.43 million barrels per day (bpd) in 2019 to average 12.39 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, up from its previous forecast for a rise of 1.35 million bpd.  Output in 2020 is forecast to rise by 710,000 bpd to 13.10 million bpd, a smaller increase than the EIA previously estimated.

Apr 10 - Talks with China to cut ethanol tariffs 'positive' - U.S. agriculture secretary
U.S. Agriculture Secretary Sonny Perdue said on Tuesday that talks with China about reducing Beijing's tariff on U.S. ethanol products were "positive," but cautioned the discussions were not over. "There have been conversations with China on reducing that tariff on ethanol, which would obviously be good for our domestic corn industry," he told reporters. "While things look positive, it's never over till it's over with the Chinese."

Apr 10 - India delays May order for Iran oil, awaits clarity on sanctions waiver - sources
Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from U.S. sanctions against the OPEC-member, four sources said. In November, U.S. President Donald Trump withdrew from the 2015 Iran nuclear deal and re-imposed broad economic sanctions.

Apr 10 - China to cap 2019 coal imports to help domestic producers
China's government will cap coal imports this year at 2018 levels, four sources with direct knowledge of the matter told Reuters on Tuesday, to support domestic producers. The world's biggest coal consumer imported 281.23 million tonnes of coal in 2018 including thermal coal, coking coal and anthracite.

Apr 10 - U.S. crude exports to Europe falter as WTI-Brent spread tightens
U.S. crude cargoes bound for Europe dropped to the lowest in more than a year in March and will remain low with the narrow spread between U.S. crude and Brent limiting demand, according to trade sources and data from Refinitiv Eikon. Tankers carrying about 265,000 barrels per day (bpd) of U.S. crude are scheduled to arrive in Rotterdam, Fawley, Trieste and other European ports this month, following a record 718,500 bpd that arrived in March, Eikon data showed.

Apr 09 - Russia signals OPEC and allies could raise oil output from June
One of the key Russian officials to foster a supply pact with OPEC, Kirill Dmitriev, signalled on Monday that Russia wanted to raise oil output when it meets with OPEC in June because of improving market conditions and falling stockpiles. Dmitriev, head of Russian sovereign wealth fund RDIF, was the first Russian official to predict a deal with OPEC in 2016 and since then has become a key defender of the pact despite pressure from domestic oil firms to drop the agreement.

Apr 09 - Investors flock to Saudi Aramco's debut international bond
Saudi Aramco has received bids for more than three times the $10 billion it was expected to raise in a debut international bond issue, which is being watched as a gauge of potential investor interest in the oil company's eventual initial public offering. The demand prompted the world's largest oil firm to market the six-part deal - which will price on Tuesday and could see Aramco raise more than $10 billion - with a smaller than expected premium to the Saudi government that owns it.

Apr 09 - China thermal coal imports to fall 10 mln-12 mln tonnes in 2019 - Noble's Echeverri
China's thermal coal imports will decline by between 10 million and 12 million tonnes in 2019, a leading industry analyst said on Tuesday, largely because of rising domestic output in the world's top producer and consumer. China's coal output will increase from the second quarter of 2019, reducing its reliance on overseas supplies, Rodrigo Echeverri, head of hard commodities at trader Noble Group  told an industry conference in Shanghai.

Apr 09 - Venezuela pledges to honor oil commitments to Cuba despite sanctions
Venezuela will "fulfill its commitments" to Cuba despite United States sanctions targeting oil shipments from the South American country to its ideological ally, Foreign Minister Jorge Arreaza said on Monday. Washington on Friday imposed sanctions on 34 vessels owned or operated by state-run oil company Petroleos de Venezuela as well as on two companies and a vessel that have previously delivered oil to Cuba, aiming to choke off a crucial supply of crude to the Communist-run island. 

Apr 09 - Shell enters China's shale oil scene with joint study with Sinopec
Royal Dutch Shell has entered China's shale oil sector, signing an agreement with state-owned Sinopec to study an East China block, part of the nation's early efforts to unlock the potentially massive unconventional resource. China is already in the initial stages of developing its vast shale gas resources, with production last year making up just 6 percent of total gas output after more than a decade of work. 

Apr 09 - Oil traders hail output cuts but wary on economic outlook: Kemp
Hedge fund managers are becoming progressively more bullish on the outlook for crude and gasoline prices, but they are turning increasingly against diesel, notwithstanding the IMO marine fuel deadline at the end of the year. Hedge funds and other money managers were net buyers of 23 million barrels of futures and options linked to crude and refined products in the week to April, according to exchange and regulatory position records.

Apr 09 - Is coal's slump overdone? Australia's resilient exports suggest maybe: Russell
Australian thermal coal prices plummeted last week, dropping to a 10-month low after succumbing to a series of blows including concern over imports by China and a lower contract price with Japan. But while one should always be wary of trying to catch a falling knife, there are some signs that the rapid decline in prices in recent months has moved the market into oversold territory.

Apr 08 - Midwest floods hammer U.S. ethanol industry, push some gasoline prices toward 5-year high
The March floods that punished the U.S. Midwest have roiled the ethanol industry, hammering prices and trapping barrels in the country's interior while the U.S. coasts suffer from shortages of the biofuel. The historic March floods have dealt a series of blows to large swaths of an ethanol industry that was already struggling with high inventories and sluggish domestic demand growth. 

Apr 08 - Iran says reaches understanding with Iraq to develop two oilfields
Iran and Iraq have reached an understanding about developing two oilfields on their mutual border, Iran's oil minister was quoted saying on Sunday, a day after Iranian President Hassan Rouhani called for increased trade between the two countries. The focus of the understanding is the development of the Naft Shahr and Khorramshahr oilfields, Oil Minister Bijan Zanganeh said according to a report on Iran’s oil ministry website on Sunday, without giving any details of the plan.

Apr 08 - U.S. crude output growth could slow as shale revolution loses momentum
After Texas pushed the United States over the last decade to become the world's biggest oil producer last year, the heart of the shale revolution is starting to show fatigue. The volume of crude being pumped out of Texas recently saw its first monthly dip in a year. Oil well productivity in Texas's Permian basin - the country's largest oil field - is falling, and the number of drilling rigs operating in the United States declined for six straight weeks before rebounding this week. 

Apr 08 - U.S. targets Cuba's oil supply from Venezuela in new sanctions
The United States on Friday targeted oil shipments from Venezuela to Cuba in its latest round of sanctions to pressure the government of President Nicolas Maduro, aiming to choke off a crucial supply of crude to the Communist island. The U.S. Treasury imposed sanctions on 34 vessels owned or operated by Venezuelan state-run oil company Petróleos de Venezuela, S.A, or PDVSA, and also on two companies and a vessel that delivered oil to Cuba in February and March.

Apr 08 - Hedge funds raise bullish U.S. crude bets as price climbs
Hedge funds and other money managers raised their bullish wagers on U.S. crude as futures rose more than 4 percent in the latest week, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group raised its combined futures and options position in New York and London by 7,779 contracts to 250,989 during the week ended April 2.

Apr 08 - Saudi Arabia tries to develop counter-leverage with dollar threat: Kemp
Saudi Arabia's threat to sell its oil in currencies other than the dollar if the United States enacts anti-OPEC legislation is an empty one, but it illustrates the extent of tensions between the two governments over oil prices. Senior Saudi officials have discussed a plan to stop invoicing oil in dollars and switch to other currencies if the No Oil Producing and Exporting Cartels Act (NOPEC), recently introduced in Congress, becomes law.

Apr 08 - U.S. drillers add oil rigs for first week in seven - Baker Hughes
U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks after oil futures soared nearly 40 percent this year. Companies added 15 oil rigs in the week to April 5, the biggest increase since May, bringing the total count to 831, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.

Apr 05 - Saudi Arabia threatens to ditch dollar oil trades to stop 'NOPEC' - sources
Saudi Arabia is threatening to sell its oil in currencies other than the dollar if Washington passes a bill exposing OPEC members to U.S. antitrust lawsuits, three sources familiar with Saudi energy policy said. They said the option had been discussed internally by senior Saudi energy officials in recent months. 

Apr 05 - Venezuela's PDVSA braces for low output from crucial crude upgraders
Venezuelan state-owned oil company PDVSA expects its crucial crude upgraders to operate well below capacity this month, according to industry sources and documents seen by Reuters, as U.S. sanctions and energy blackouts hit the OPEC nation's oil industry. Venezuela depends on the upgraders, which are mostly operated by joint ventures with foreign companies, to convert the extra-heavy crude oil produced in the Orinoco Belt into exportable grades usable in overseas refineries. Together, they have a capacity of some 700,000 barrels per day.

Apr 05 - Australia coal posts biggest weekly drop in a decade amid weak demand
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged with the end of winter and amid worries over the strength of the global economy. Coal prices for prompt loading at Australia's Newcastle terminal have lost almost 20 percent since last Friday, dropping to $72 per tonne, their lowest since May 2017, and marking the steepest weekly decline since the global financial crisis of 2008/2009.

Apr 05 - Aramco treads carefully on Saudi ties as it markets debut bond
For Saudi Aramco and its advisers, a debut international debt issue that could raise well over $10 billion presents a key challenge - how to forge an identity as a state-owned major while in the same league as the likes of Exxon Mobil and Shell. At stake is the likely multi-million dollar difference in interest payments over coming years between its standing as an independent international corporate and one tied closely to the host kingdom whose oil it ships to global markets.

Apr 05 - South Korea tests U.S. super light oil as Iran waiver uncertainty grows - sources
South Korea has begun testing super-light U.S. oil sold by Anadarko Petroleum Corp as a substitute for Iranian crude while it awaits word from Washington on whether it can keep buying oil from the Middle Eastern nation, sources said. South Korea is one of Iran's biggest Asian customers and was one of eight importers that received waivers to keep buying Iranian oil when the United States re-imposed sanctions in November.

Apr 05 - Value of U.S. oil deals plunges 93 pct in 1st qtr as investors demand higher returns
The value of U.S. oil and gas mergers and acquisitions fell to a 10-year low in the first quarter, according to data released on Thursday, as investors pushed shale producers that have driven a recent merger boom to focus on lifting shareholder returns rather than production. The value of oil and gas deals tumbled plunged 93 percent to $1.6 billion last quarter from a year ago to the lowest in a decade, energy consultancy Drillinginfo said in its quarterly M&A review.

Apr 05 - U.S. LNG to China will increase despite trade tension - Cheniere
Shipments of liquefied natural gas (LNG) from the United States to China will increase over the long term despite ongoing trade tensions, senior executives of Cheniere Energy  the biggest U.S. exporter of the super-chilled fuel, told Reuters. "It's clear that the U.S. LNG trade with China is just beginning because U.S. LNG has just started," Cheniere Vice President Robert Fee told Reuters on the sidelines of the LNG2019 conference in Shanghai on Thursday.

Apr 05 - Opponents of Alaska drilling say it threatens climate, wildlife
Opponents of drilling for oil in the Arctic National Wildlife Refuge are lining up in Alaska and in Washington, calling the White House's efforts to open up the land "ecologically unsound." Those against oil development in the ANWR coastal plain say the territory deserves protection from oil rigs, pipelines and roads that crisscross the rest of Alaska’s North Slope.

Apr 04 - U.S. crude stocks build sharply, production hits fresh peak
U.S. crude oil stockpiles soared unexpectedly last week as imports climbed and production edged higher to a new record, the Energy Information Administration said on Wednesday. Refined fuel inventories fell more than expected, with gasoline drawing down for a seventh straight week, as refining rates remained low, the data from the statistical arm of the Department of Energy showed.

Apr 04 - Flooding, refinery outages push gasoline prices higher in U.S. West
Severe flooding in the U.S. Midwest this season has had ripple effects for drivers further west, as washed-out rail lines disrupted ethanol supply, causing spikes in gasoline prices and even forcing some retail stations to shut down. Ethanol producers in flood-ravaged states have had trouble getting their product to markets over the past two weeks, as rail lines have been shut or hampered by rising waters.

Apr 04 - Western Canadian oil inventories rise in March despite curtailments
Western Canadian crude oil storage inventories rose in March, data from energy information provider Genscape showed on Wednesday, as reduced crude by rail volumes offset mandatory oil production cuts imposed by the Alberta government. It was the first monthly increase since the government of Canada's largest crude-producing province introduced curtailments on Jan. 1 2019 and highlights the difficult balancing act Alberta faces as it intervenes in the market.

Apr 04 - U.S. natural gas prices unmoved by colder winter, low inventories: Kemp
U.S. natural gas prices remain mired below $3 per million British thermal units despite a relatively cold winter that has left the volume of gas in storage well below normal for the time of year. Futures prices for natural gas delivered to Henry Hub in June 2019 are just over $2.70 per million BTUs, down from $2.90 in the middle of March, and have remained well below $3 throughout the last two years.

Apr 03 - REUTERS TECHNICAL ANALYSIS Q2 OUTLOOK 2019 - WANG TAO

Oil and spot gold may extend gains moderately in Q2 before reversing the uptrend. Palm oil is expected to complete a corrective cycle by approaching a key resistance at 2,398 ringgit again.  Grains and cocoa are bullish, while base metals and the peaking spot palladium look very bearish. Special attention is drawn to dollar index which is poised to soar. To read the full report, click here.

Apr 03 - Three importers cut Iran oil shipments to zero - U.S. envoy
Three of eight importers granted waivers by Washington to buy oil from Iran have now cut their shipments to zero, a U.S. official said on Tuesday, adding that improved global oil market conditions would help reduce Iranian crude exports further. The United States reimposed sanctions on Iran after President Donald Trump last May withdrew the country from a 2015 nuclear deal between Iran and several world powers, accusing it of supporting terrorism and conflicts in Syria and Yemen.

Apr 03 - China's Sinopec dials back oil-purchase strategy after record Q4 loss - sources
China's Sinopec Corp has ended a five-year crude oil purchasing strategy to rein in the speculative derivatives activity of its trading arm Unipec after a record trading loss late last year, four people with direct knowledge of the matter told Reuters. Sinopec, Asia's largest crude oil buyer and its largest refiner, in January abandoned a buying formula used since 2014 to establish performance targets for Unipec and aimed at driving down its crude feedstock costs to a pre-set discount to global oil benchmarks.

Apr 03 - Citing climate differences, Shell walks away from U.S. refining lobby
Royal Dutch Shell Plc on Tuesday became the first major oil and gas company to announce plans to leave a leading U.S. refining lobby due to disagreement on climate policies, citing its support for the goals of the Paris climate agreement. In its first review of its association with 19 key industry groups, Shell said it had found "material misalignment" over climate policy with the American Fuel & Petrochemical Manufacturers (AFPM) and would quit the body in 2020.

Apr 03 - Venezuela oil exports stable in March despite sanctions, blackouts
Venezuela's state-run energy company, PDVSA, kept oil exports near 1 million barrels per day in March despite U.S. sanctions and power outages that crippled its main export terminal, according to PDVSA documents and Refinitiv Eikon data. The OPEC member stabilized exports in March after shipments fell about 40 percent in February from the prior months, in the immediate aftermath of the United States announcing it would impose sanctions on oil sales to choke off the main source of revenue for socialist President Nicolas Maduro.

Apr 03 - Cash flow still weak at U.S. shale firms, stock prices underperform
U.S. shale producers last year again spent more money than they collected, extending a years-long streak of putting oil output above cash flow and investor returns, according to a Reuters analysis of top independent producers. All but seven of 29 of these producers last year spent more on drilling and shareholder payouts than they generated through operations, according to securities filings. 

Apr 03 - Energy secretary says U.S. should debate shrinking the oil reserve
U.S. Energy Secretary Rick Perry said on Tuesday that Congress should consider whether to shrink the government's emergency oil reserve as the boom in domestic oil production has cut reliance on petroleum imports. The Strategic Petroleum Reserve (SPR), which stores crude oil in a series of salt caverns at heavily guarded sites on the Texas and Louisiana coasts, was authorized by Congress after the Arab oil embargo of the 1970s sparked a U.S. fuel crisis.

Apr 03 - Exxon offers first glimpse of results from expanded trading unit
Exxon Mobil Corp has offered a glimpse of the scale of its nascent energy trading operation, disclosing operating profit and losses of about $230 million during each quarter last year, the first time it has revealed the figures. The world's largest publicly traded oil producer last year launched a major push into energy trading, hiring veterans from Glencore, Noble Group, BP Plc and elsewhere in the United States, Europe and Asia. It also recruited market analysts and specialists with experience in crude, natural gas, gas-liquids and gasoline.

Apr 02 - OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts 

OPEC oil supply sank to a four-year low in March, a Reuters survey found, as top exporter Saudi Arabia over-delivered on the group's supply-cutting pact while Venezuelan output fell further due to sanctions and power outages. The 14-member Organization of the Petroleum Exporting Countries pumped 30.40 million barrels per day (bpd) last month, the survey showed on Monday, down 280,000 bpd from February and the lowest OPEC total since 2015.

Apr 02 - Saudi Arabia may keep May crude prices little changed
Top oil exporter Saudi Arabia is expected to keep prices of various grades of crude it sells to Asia little changed in May from the previous month, trade sources said on Tuesday. State-owned Saudi Aramco may cut the official selling price (OSP) for its flagship Arab Light crude by 5 cents a barrel for May, according to the median of responses of five refining sources. 

Apr 02 - Aramco's $10 bln-plus bond plan shows profits put top earner Apple in shade
Saudi Aramco, the world's biggest oil producer, made core earnings of $224 billion last year, almost three times as much as Apple, figures from the state-owned company showed on Monday ahead of its debut international bond issue. Previously reluctant to disclose its financials, Aramco had to reveal them in order to obtain a public rating and start issuing international bonds.

Apr 02 - Alberta crude inventories rise despite production curtailments
The amount of oil in storage in Alberta rose in February, monthly data shows, despite moves by the government of Canada's largest crude-producing province to reduce inventories by imposing curtailments on production. The reason is a sharp decline in crude by rail shipments, analysts say. A significantly narrower discount on Canadian crude compared with U.S. barrels as a result of the curtailments has made rail shipments uneconomic.

Apr 02 - Hedge funds bullish on slowing oil output growth: Kemp
Hedge funds are becoming increasingly bullish on oil prices amid signs of slowing production growth as a result of output cuts by Saudi Arabia and a reduction in U.S. shale drilling. Hedge funds and other money managers bought 37 million barrels of futures and options in the six most important contracts linked to petroleum prices in the week to March 26.

Apr 02 - Oil-rich sovereign funds look to renewables alongside fossil fuels
Sovereign wealth funds from oil-rich countries in the Middle East are moving to diversify into renewable energy, pushed by regulators and pledges on climate change, but are stopping short of following Norway in shedding some oil and gas investments. Total sovereign wealth fund investments within the oil and gas industry have dwarfed those within renewable energy in the past decade.

Apr 01 - Iranian fuel oil cargo sits off Malaysia as U.S. urges sanctions compliance
A tanker of Iranian fuel oil was sitting offshore Malaysia, ship tracking data on Refinitiv Eikon showed, as a top U.S. sanctions official visiting Singapore on Friday urged local governments to comply with oil trading restrictions on Iran. The U.S. government reintroduced sanctions against Iran's oil industry in November. While it still allows some buyers limited purchases of Iranian crude oil, petroleum products have not received official sanctions waivers. 

Apr 01 - Saudi Aramco gets first credit ratings ahead of bond debut
Saudi Aramco, the world's top oil producer, has been rated A+ by Fitch and A1 by Moody's in its first-ever credit ratings, ahead of the state oil giant's first global bond sale and following 2018 earnings that dwarfed those of international oil majors. Aramco will start meeting international bond investors this week for its debut in the international capital markets, opening its books to investor scrutiny for the first time. Given Aramco is fully state owned, its ratings are in line with the credit rating of Saudi Arabia. 

Apr 01 - Trump tries fresh approach with long-delayed Keystone XL pipeline
U.S. President Donald Trump on Friday signed a new permission for TransCanada Corp to build the long-delayed Keystone pipeline for imports of Canadian oil, replacing his previous permits in a fresh attempt to get around the blocking of the $8 billion project by a court in Montana. In granting the permission in an executive order, Trump revoked a previous permit for the pipeline issued in March 2017 and an executive order approving the project he issued two days after taking office in January that year.

Apr 01 - Commodity prices, investment poised to extend upswing
A rebound in commodities prices and investment is poised to extend in coming months as the sector gets its traditional boost during the final stages of the global economic cycle along with other drivers. While some investors worry about a possible recession, commodities are due to benefit from an expected U.S.-China trade deal, tightening oil supply and potential short-covering in beaten-down U.S. grain futures.

Apr 01 - Trump and Saudi Arabia at odds over oil prices: Kemp
U.S. President Donald Trump and the Saudi government have closely aligned views on most issues but they disagree significantly on the desirable level for oil prices, which could become a source of volatility in 2019/2020. In keeping with his iconoclastic approach to governing, Trump has kept up a public commentary on oil prices and the role of Saudi-led OPEC in messages on Twitter as well as television interviews.

Apr 01 - Cutbacks continue at two oil refineries over Texas petrochemical disaster
Lyondell Basell Industries may keep production cuts at its 263,776 barrel-per-day (bpd) Houston refinery for a week because of shipping disruptions in a key oil port from a chemical spill, Gulf Coast market sources said on Friday. Royal Shell Plc plans to increase production on April 3 at its 275,000 bpd joint-venture Deer Park, Texas, refinery, which was cut because of the shipping shutdown, the sources said.

Apr 01 - U.S. crude output eases from record to 11.9 mln bpd in Jan - EIA
U.S. crude oil production edged lower in January to 11.87 million barrels per day, from a revised record 11.96 million bpd in December, the U.S. Energy Information Administration said in a monthly report on Friday. Production in Texas fell by 64,000 bpd in the month and in North Dakota output rose by 9,000 bpd. Meanwhile, production in the federal waters of the Gulf of Mexico was largely unchanged, according to the report.

Apr 01 - Hedge funds boost bullish U.S. crude, Brent bets -CFTC
Hedge funds and money managers raised bullish wagers on U.S. crude to the highest in more than five months, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday, as prices climbed on tightening global supplies. The speculator group increased its combined futures and options net long position in New York and London by 29,103 contracts to 243,209 in the week to March 26.

Apr 01 - U.S. drillers cut most oil rigs in a quarter in three years - Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating to their lowest in nearly a year, cutting the most rigs in a quarter in three years despite a 30 percent hike in crude prices so far in 2019. Drillers cut eight oil rigs in the week to March 29, bringing the total count down to 816, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. 

Mar 29 - OPEC struggles to keep Russia on board with oil cut, may offer shorter extension
Saudi Arabia is having a hard time convincing Russia to stay much longer in an OPEC-led pact cutting oil supply, and Moscow may agree only to a three-month extension, three sources familiar with the matter said. Russian Energy Minister Alexander Novak told his Saudi counterpart Khalid al-Falih when the two met in Baku this month that he cannot guarantee an extension to the end of 2019, the sources said.

Mar 29 - Japanese refiners halt Iran oil imports as waiver expiry looms
Japanese refineries have put a halt on imports of Iranian oil after buying 15.3 million barrels between January and March ahead of the expiry of a temporary waiver on U.S. sanctions, according to industry sources and data on Refinitiv Eikon. The waiver, which allowed Japan to buy some Iranian oil for another 180 days, expires in early May. However, Japanese refiners want to ensure enough time for all cargoes already loaded to arrive in Japan and for payments to be completed.

Mar 29 - Australia is enjoying a windfall commodities boom, but it won't last: Russell
The good news for Australia is that it can expect a flood of cash from resource exports this fiscal year because of rising exports and relatively strong prices for iron ore, coal and liquefied natural gas (LNG). The bad news is this windfall is unlikely to be sustained for long, and export earnings are likely to fall in four of the five years after the current 2018/19 fiscal year.

Mar 29 - U.S. orders foreign firms to further cut down on oil trades with Venezuela
The United States has instructed oil trading houses and refiners around the world to further cut dealings with Venezuela or face sanctions themselves, even if the trades are not prohibited by published U.S. sanctions, three sources familiar with the matter said. The move comes as Washington's efforts to oust President Nicolas Maduro in favour of opposition leader Juan Guaido have stalled, and is further evidence of how it is leaning on non-U.S. firms to achieve its foreign policy goals.

Mar 29 - Trump calls for OPEC to boost oil production, says price too high
U.S. President Donald Trump on Thursday called for the Organization of the Petroleum Exporting Countries (OPEC) to boost oil production to lower the price of the commodity. "Very important that OPEC increase the flow of Oil. World Markets are fragile, price of Oil getting too high. Thank you!" Trump wrote in a post on Twitter.

Mar 29 - U.S. EPA likely to release decisions on 2018 small refinery waivers in April - sources
The U.S. Environmental Protection Agency is likely to release its decisions on applications for small refinery waivers from the U.S. biofuel laws for 2018 in April, three sources familiar with the matter said on Thursday. One of the sources said the 2018 waiver decisions could come in a couple of weeks. But refiners were expecting to find out about their petitions before the end of the month, which is the deadline for proving compliance under the U.S Renewable Fuel Standard for the 2018 calendar year.

Mar 28 - Uncovering Iran's sanctions-busting sale of fuel oil on the high seas
It was a quiet day in January, and many oil traders were still on holiday, when two sources in the industry called to alert me to something unusual - a supertanker that had gone off radar for two weeks appeared off the coast of the United Arab Emirates and was pumping out fuel oil to two smaller vessels. The sources said it appeared that the supertanker was selling Iranian oil in violation of U.S. sanctions. If confirmed, the sale would shine a rare light on how traders and shippers were evading the sanctions. Click here to read full stories

Mar 28 - Saudi Aramco to buy SABIC in $69 bln chemicals megadeal
The world's largest oil producer Saudi Aramco has agreed to buy a 70 percent stake in Saudi Basic Industries Corp (SABIC) from the kingdom's wealth fund for $69.1 billion in one of the biggest deals in the global chemical industry. The agreement to help boost Aramco's downstream growth plans comes after months of talks between Aramco and the Public Investment Fund (PIF), which contributed to the delay of Aramco's planned multi-billion dollar initial public offering. Click here to read full stories

Mar 28 - Mitsui to produce more heavy crude oil in 2019
Japanese trading company Mitsui & Co will produce more heavy crude oil this year once projects in Australia and Italy are completed, a senior company official said, in part boosting its ability to provide low sulphur marine fuel. Heavy crude production from the Tempa Rossa project in Italy could start soon, while the Greater Enfield project in Australia is on track to resume production by the middle of this year, Yuji Kikkawa, general manager of strategic planning for Mitsui's energy business units, told Reuters. Click here to read full stories

Mar 28 - Oil traders wait to assess impact of IMO regulations - Kemp
If oil traders and consumers are worried about the impact of new maritime fuel regulations from the start of next year, they have not yet started to mark up prices for low-sulphur middle distillate fuels. Under new rules agreed by the International Maritime Organization (IMO), ships will be forced to switch to using low-sulphur fuels rather than high-sulphur residual fuel oil, or fit scrubbers to remove sulphur dioxide emissions. Click here to read full stories

Mar 28 - China bucking global shift from coal-fired power - environmental study
China restarted construction on more than 50 gigawatts (GW) of suspended coal-fired power plants last year, bucking a global shift away from fossil fuels, a new study showed on Thursday. China has repeatedly pledged to reduce its reliance on coal, a major source of smog and climate-warming greenhouse gases, and it has already cut coal's share of its total energy mix to 59 percent, down from 68.5 percent in 2012. Click here to read full stories

Mar 28 - Australia's east faces gas shortage from 2024, market operator warns
Australia will face a gas shortage from 2024 unless new reserves are developed, pipeline capacity is increased or eastern states start importing liquefied natural gas, the country's energy market operator warned on Thursday. The Australian Energy Market Operator's (AEMO) annual gas outlook was more dire than in June last year, when it forecast no shortage before 2030. Since then, companies have cut reserve and production estimates, AEMO said. Click here to read full stories

Mar 27 - Bakken, Niobrara crude flows to Cushing slow, boosting prices
Crude flows from the Bakken and Niobrara shale basins to Cushing, Oklahoma slowed in March due to winter production outages, dealers said, helping support prices both regionally and at the delivery point for U.S. crude futures. Production climbed in North Dakota's Bakken shale patch and the Rockies' Niobrara region in March, and is expected to reach new peaks in April, according to U.S. Energy Department data. Click here to read full stories

Mar 27 - Activity halted at Venezuela's oil port, upgraders after blackout - sources
Venezuela's main oil export port of Jose and four crude upgraders have been unable to resume operations following a power blackout on Monday, according to industry workers and a union leader close to the facilities. The most recent oil shipment for export, on the carrier Dragon chartered by Russia's Rosneft, left Jose, which is owned by state-run PDVSA, on March 24, according to Refinitiv Eikon vessel-tracking data and PDVSA's trade documents. Click here to read full stories

Mar 27 - U.S. oil projects begin to falter as producers curb spending
The number of pipeline and storage terminal projects proposed to move shale to the U.S. Gulf Coast has dwindled amid steps by oil producers to pare exploration spending. Last year, booming West Texas production overwhelmed existing pipelines out of the region, sinking local prices and helping launch nine projects proposing to add 5.4 million barrels per day (bpd) through the first half of 2021. Click here to read full stories

Mar 27 - Top traders see oil price sustained by tighter market in H2 2019
Four of the world's biggest traders expect the Brent oil price in 2019 to largely linger in the $60s a barrel with a slight rise in the second half of the year due to a tightening market, they said on the sidelines of the FT Commodities Global Summit. Glencore's head of oil Alex Beard expects Brent to stay in the mid-$60s while Gunvor chief executive Torbjorn Tornqvist saw $60s to low $70s a barrel. Click here to read full stories

Mar 26 - Stalled Aramco IPO sets back deal-making at U.S. subsidiary Motiva
Saudi Aramco's delayed initial public offering is sidelining grand North American expansion plans at its U.S. refining subsidiary Motiva Enterprises LLC, people familiar with the matter said, at a time when its rivals grew their market share. After dissolving a partnership with Royal Dutch Shell PLC two years ago, Motiva set out to rebuild and boost market share in the Americas. It evaluated deals for LyondellBasell Industries NV's  Houston refinery, with the Caribbean government of Curacao, and considered expanding its sole U.S. oil refinery. Click here to read full stories

Mar 26 - Trading firm Trafigura sees oil price rising to $70s/bl in 2020
Global commodities trader Trafigura Group sees Brent oil staying around current levels, about $66-$67 a barrel, or slightly higher for the rest of the year, and rising to the $70s in 2020, its co-head of oil trading Ben Luckock said on Monday. "We're gently bullish. We have a more stable and almost sensible market. We traded between $50 and $87 a barrel last year. $87 was probably too much ... The Iranian oil waivers caught many people by surprise," Luckock told a briefing for journalists at the company's Geneva headquarters. Click here to read full stories

Mar 26 - South Korean officials to press for Iran sanctions waiver in United States
South Korean government officials are expected to press for extending a sanctions waiver on Iran's petroleum exports that expires in May on a visit to Washington this week. South Korea's Deputy Foreign Minister for Economic Affairs Yoon Kang-hyun and other leaders will meet with U.S. State Department officials on Wednesday and Thursday to discuss the waiver issued in November to keep buying Iranian oil in exchange for having reduced such purchases, the Seoul government said in a news release on Monday. Click here to read full stories

Mar 26 - Texas refineries cut output as petrochemical spill curbs shipping
Royal Dutch Shell Plc and LyondellBasell Industries cut production on Monday at their Houston-area oil refineries because of shipping disruptions along a waterway affected by a petrochemical fire and spill, according to people familiar with the matter. A fire and fuel leak at Mitsui & Co Inc's, Intercontinental Terminals Co (ITC) storage facility in Deer Park, Texas, last week sent gasoline, water and fire suppressant foam into the Houston Ship Channel, which connects Houston to the Gulf of Mexico, and is home to nine oil refineries. Click here to read full stories

Mar 26 - China's ShFE launches crude oil futures index; plans more products
China's Shanghai Futures Exchange (ShFE) will start on Tuesday publishing an index linked to the prices of its crude oil futures contracts, a year after the launch of futures trading, the ShFE said in a release posted on its WeChat channel. The crude oil futures index will measure the price movements and the rate of return for the most actively traded contract for the ShFE's crude futures, according to the release. Click here to read full stories

Mar 25 - U.S. buyers of Venezuelan oil sub in Shell, BP offshore crude
U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region. Those two companies produce notable amounts of crude oil that refiners have settled on as the immediate replacement for the heavy Venezuelan crude that U.S. refiners relied on for years.  Click here to read full stories.

Mar 25 - More shale, who cares? Saudi Arabia pushes for at least $70 oil
Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit and Riyadh's share of global crude markets might be further eroded. Riyadh, OPEC's de facto leader, said it was steeply cutting exports to its main customers in March and April despite refiners asking for more of its oil.  Click here to read full stories.

Mar 25 - LNG supply glut, price slump should raise questions over future projects: Russell 
The slump in the spot price of liquefied natural gas (LNG) in Asia to its lowest in three years should give pause for thought to the slew of companies planning new ventures to produce the super-chilled fuel. But it probably won't. The spot price for LNG delivered to Northeast Asia dropped to $4.65 per million British thermal units (mmBtu) in the week to March 21, the lowest since May 2016. Click here to read full stories.

Mar 25 - U.S. warns it can act against people helping Iran evade energy sanctions
The United States reserves the right to take action against any person helping Iran evade U.S. sanctions on energy shipments, a State Department official said on Friday. The official, who spoke on condition of anonymity, was responding to a request for comment on a Reuters report this week that at least two tankers have sent Iranian fuel oil to Asia in recent months despite U.S. sanctions against such shipments.  Click here to read full stories.

Mar 25 - China's Sinopec lifts upstream capex to four-year high, plans record crude runs
Asia's top refiner China Petroleum & Chemical Corp (Sinopec) boosted spending on exploration and production by 41 percent last year as crude oil reserves tumbled at its biggest oilfield. Sinopec's upstream capital expenditure rose to 59.6 billion yuan ($8.9 billion), its highest since 2014, as the company prepares to ramp up exploration at the Shengli oilfield and shale gas blocks in the southwestern Sichuan province. Click here to read full stories.

Mar 25 - India's Reliance says not breaching U.S. sanctions against Venezuela
India's Reliance Industries, operator of the world's largest oil refining complex, on Friday said in a statement it was not breaching U.S. sanctions against Venezuela. The company said its recent fuel exports to Venezuela were agreed to before Washington imposed sanctions in January, and that they were meant to settle Reliance's crude oil imports from Venezuela. Click here to read full stories.

Mar 25 - Hedge funds boost bullish U.S. crude wagers - CFTC
Hedge funds and other money managers raised their net long U.S. crude futures and options positions in the latest week as crude futures touched four-month highs, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group raised its combined futures and options position in New York and London by 50,210 contracts to 214,105 during the period to March 19. This was the fourth consecutive increase. Click here to read full stories.

Mar 25 - U.S. oil drillers cut rigs for fifth week in a row -Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output. Drillers cut nine oil rigs in the week to March 22, bringing the total count down to 824, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. Click here to read full stories.

Mar 22 - Iran's oil exports fall in March even before further U.S. clampdown - sources
Iran's oil exports have dropped in March to their lowest daily level this year, according to tanker data and industry sources, even before Washington formally requires importing countries to reduce purchases to avoid infringing U.S. sanctions. Shipments are averaging between 1.0 and 1.1 million barrels per day (bpd) so far this month, according to Refinitiv Eikon data and three other companies that track Iranian exports. Click here to read full stories.

Mar 22 - China to cut coal from new green bond standards - sources
Chinese regulators are close to releasing new "green bond" standards that would exclude polluting fossil fuel projects from corporate financing channels designed to lift environmental standards, people familiar with the matter told Reuters. Beijing has in recent years promoted new green financing methods to help industry pay for its transition to cleaner modes of growth. Click here to read full stories.

Mar 22 - A tale of two projects: Mozambique LNG terminals echo global risks
Mozambique, one of the world's poorest nations, is set to become a top global gas exporter thanks to two huge terminals about to be built in a northern province. The two liquefied natural gas (LNG) projects, by Anadarko and Exxon Mobil, will extract, liquefy and ship gas, found in such quantities offshore Mozambique that it amounts to a decade's worth of European consumption. Click here to read full stories.

Mar 22 - Houston suburbs lift travel restrictions imposed after petrochemical fire
Two Houston-area cities told residents to stay indoors and closed schools on Thursday due to air pollution from a petrochemical plant fire, then lifted the travel restrictions after airborne levels of the chemicals abated. The three-day blaze at Mitsui unit Intercontinental Terminals Co (ITC) in Deer Park, Texas, was extinguished on Wednesday after sending a plume of smoke over the area from 11 burning fuel tanks. Click here to read full stories.

Mar 21 - Reliance selling fuels from India to Venezuela to avoid U.S. sanctions 
India's Reliance Industries, operator of the world's biggest refining complex, has turned to selling fuels to Venezuela from India and Europe to circumvent sanctions that bar U.S.-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data. Reliance had been supplying alkylate, diluent naphtha, and other fuel to Venezuela though its U.S.-based subsidiary before Washington in late January imposed sanctions aimed at curbing the OPEC member's oil exports and ousting Socialist President Nicolas Maduro. Click here to read full stories.

 Mar 21 - U.S. crude stockpiles slump unexpectedly on strong export, refining demand - EIA 
U.S. crude oil stockpiles last week fell by nearly 10 million barrels, the most since July, boosted by strong export and refining demand, the Energy Information Administration said on Wednesday. Refined product inventories also fell more than expected. Crude inventories fell by 9.6 million barrels in the week to March 15, surprising analysts who had expected an increase of 309,000 barrels, according to a Reuters poll. Click here to read full stories.

 Mar 21 - Qatar asks IAEA to intervene over 'threat' posed by UAE nuclear plant 
Qatar has called on the International Atomic Energy Agency (IAEA) to intervene in a dispute over a $24 billion nuclear power plant which the United Arab Emirates (UAE) is building. Relations between Qatar and its neighbour are already strained after the UAE, Saudi Arabia, Egypt and Bahrain severed diplomatic, trade and transport ties with Doha in June 2017 over allegations that it supports terrorism, a charge Qatar denies. Click here to read full stories.

Mar 20 - How Iran fuel oil exports beat U.S. sanctions in tanker odyssey to Asia 
At least two tankers have ferried Iranian fuel oil to Asia in recent months despite U.S. sanctions against such shipments, according to a Reuters analysis of ship-tracking data and port information, as well as interviews with brokers and traders. The shipments were loaded onto tankers with documents showing the fuel oil was Iraqi. But three Iraqi oil industry sources and Prakash Vakkayil, a manager at United Arab Emirates (UAE) shipping services firm Yacht International Co, said the papers were forged. Click here to read full stories.

Mar 20 - Asia's coal, LNG price slump serves notice to oil markets 
Sharp falls in Asian coal and gas prices over the past six months are a reminder to oil markets on where prices could go in the absence of OPEC-led supply cuts or any pull-back in U.S. sanctions, analysts said. Benchmark coal and liquefied natural gas (LNG) prices in Asia have slumped amid healthy supply and only tepid demand, leaving some producers struggling to find a home for their products. Click here to read full stories.

Mar 20 - Oil majors rush to dominate US shale as independents scale back 
In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles. Workers at its Remuda lease near Carlsbad - part of a staff of 5,000 spread across New Mexico and Texas - are drilling wells, operating fleets of hydraulic pumps and digging trenches for pipelines. Click here to read full stories.

Mar 20 - Ship owners worry about clean fuel bill as ports ban "scrubbers" 
More ports around the world are banning ships from using a fuel cleaning system that pumps waste water into the sea, one of the cheapest options for meeting new environmental shipping rules. The growing number of destinations imposing stricter regulations than those set by the International Maritime Organization (IMO) are expected to be a costly headache for cruise and shipping firms as they face tough market conditions and slowing world trade. Click here to read full stories.

Mar 19 - Global spot LNG prices slide below $6/MMBtu (ICIS)
     Global LNG markers dropped below $6/MMBtu over the last four weeks, with prices in major import regions closely aligned, limiting the potential for arbitrage between Atlantic and Pacific basins. Mild weather in north Asia and Europe has reduced heating demand, while new liquefaction projects continue to make progress, boosting supply.
     The East Asia Index (EAX) for April spot deliveries to Japan, China, South Korea and Taiwan slid from $6.30/MMBtu in mid-February to $5.40/MMBtu in mid-March. The monthly average of $5.994/MMBtu was down 18% from the previous month and 29% from the previous year

Mar 19 - OPEC scraps April meeting but keeps oil cuts in place 
Oil producer group OPEC on Monday scrapped its planned meeting in April and will decide instead whether to extend output cuts in June, once the market has assessed the impact of U.S. sanctions on Iran and the crisis in Venezuela. A ministerial panel of OPEC and its allies recommended that they cancel the extraordinary meeting scheduled for April 17-18 and hold the next regular talks on June 25-26. Click here to read full stories.

Mar 19 - Venezuela may divert U.S.-bound oil to Rosneft, says Jose generator working 
Venezuela may divert oil originally bound for the United States to Russian oil company Rosneft or other destinations due to U.S. sanctions, Venezuelan oil minister and president of state-run oil company PDVSA Manuel Quevedo said on Monday. Speaking at a gathering of OPEC and other oil ministers in Baku, Azerbaijan, Quevedo added that the generator at Venezuela's primary Jose oil terminal was now working after a blackout that halted crude exports last week. Click here to read full stories.

Mar 19 - U.S. shale output seen rising to record 8.59 mln bpd in April -EIA 
U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day in April to a record 8.59 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday. Although April's total, if accurate, would be a record high, the increase continues a pattern of shrinking gains since September and would be the smallest monthly increase since May 2018, when drillers boosted output by just 25,900 bpd. Click here to read full stories.

Mar 19 - Mexico's Pemex plans to triple oil well drilling this year to boost output 
Mexico's national oil company Pemex plans to triple the number of wells it will drill this year, the company's chief executive said on Monday, in a bid to grow crude output and reverse more than a decade of declining production. The government-funded plan involves drilling 506 new wells spread across 20 recently-discovered fields, according to a presentation from Pemex CEO Octavio Romero. That would be more than three times the number of wells Pemex drilled in 2018. Click here to read full stories.

Mar 19 - Surging LNG imports drive down British wholesale gas prices 
Britain's imports of liquefied natural gas (LNG) for March are at their highest levels since October 2015, helping British wholesale gas prices slide to a more than 18-month low. Britain is set to receive 14 cargoes in March, with six tankers scheduled for this week. The country is on track to import 1.18 million tonnes of LNG this month, amounting to 1.63 billion cubic metres of gas or 52 million cubic metres a day. Click here to read full stories.

Mar 19 - Texas petrochemical storage fire rages, may burn for two days 
A fire at a Houston-area petrochemical storage site continued to rage late on Monday and is expected to burn for up to two more days, officials said, sending thick black smoke into the air for miles around. Firefighters were making progress seeking to contain the blaze at Intercontinental Terminals Co (ITC), with the number of giant storage tanks on fire reduced to six from seven earlier, said ITC spokeswoman Alice Richardson. Click here to read full stories.

Mar 19 - Canada's Alberta increases crude output limit for May and June 
The Canadian oil-producing province of Alberta will increase crude production limits by 25,000 barrels per day in May and a further 25,000 bpd in June, the government said on Monday. The increases mean that by June, oil companies will be limited to 3.71 million bpd of production. Alberta mandated production cuts this year to ease congestion on export pipelines that resulted in crude getting bottlenecked in storage and the discount on Canadian heavy crude widening to record levels. Click here to read full stories.

Mar 18 - Saudi signals OPEC may need to extend oil cuts until end-2019 
Saudi Arabia said on Sunday OPEC's job in rebalancing the oil market was far from done as global inventories were still rising despite harsh U.S. sanctions on Iran and Venezuela, signalling it may need to expand output cuts into the second half of 2019. Russia, which is cutting oil output in tandem with OPEC, also said production cuts would stay in place at least until June, when Washington's next steps on reducing Iran's and Venezuela's oil exports become clearer. Click here to read full stories.

Mar 18 - Wastewater - private equity’s new black gold in U.S. shale 
Mike Christensen strides among rows of gleaming steel tanks, pointing to pipelines that arrive from miles around to this corner of former farmland near Midland, Texas, the heart of the largest oil patch in the United States. His company is one of dozens opening sites like this one that handles, not the lucrative oil, but the shale industry's dirty secret: wastewater. Click here to read full stories.

Mar 18 - Iran's Rouhani inaugurates four new phases of South Pars gas field 
Iranian President Hassan Rouhani formally inaugurated four new phases of South Pars, the world’s largest gas field, on Sunday, according to a statement posted by the Iranian oil ministry on Twitter. Iran has invested $11 billion to complete the four phases and they will increase the country’s gas production capacity by up to 110 million cubic meters per day, the statement said. Click here to read full stories.

Mar 18 - All the world a stage: Rising U.S. oil clout on show in Houston 
A glance at the attendee list at one of the world's largest energy industry events in Houston this week left little question about the growing influence of the United States over global oil politics. Present: top U.S. diplomat Mike Pompeo. Absent: leading Saudi and Russian officials, and most OPEC nations. Click here to read full stories.

Mar 18 - Chinese go-slow on Australian coal imports may be starting to show: Russell 
China's unofficial go-slow on clearing Australian coal through customs didn't show up in the first two months of this year, but it may now be starting to have an impact. Chinese coal traders are reported to have cut back on buying from Australia, the world's largest exporter of the fuel, after the length of time taken by customs to clear cargoes reportedly doubled to at least 40 days.  Click here to read full stories.

Mar 18 - IEA sees oil market flipping into deficit in second quarter 
The oil market will flip into a modest deficit from the second quarter of this year, with OPEC possessing a hefty supply cushion to prevent any price rally in case of possible supply disruptions, the International Energy Agency said on Friday. The IEA, which coordinates the energy policies of industrialised nations, kept its forecast of growth in global oil demand this year unchanged at 1.4 percent, or 1.4 million barrels per day (bpd). Click here to read full stories.

Mar 18 - Hedge funds increase long U.S. crude bets - CFTC 
Hedge funds raised bullish wagers on U.S. crude futures and options positions in the latest week as prices rose, buoyed by signs of tightening global supply, the U.S. Commodity Futures Trading Commission said on Friday. The speculator group raised its combined futures and options position in New York and London by 8,471 contracts to 163,898 during the week to March 12. Click here to read full stories.

Mar 18 - U.S. oil rig count falls to lowest since April 2018 - Baker Hughes 
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row with drilling slowing to its lowest in nearly a year, prompting the government to cut crude output growth forecasts. Drillers cut one oil rig in the week to March 15, bringing the total count down to 833, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.  Click here to read full stories.

Mar 15 - Fearing new oil glut, OPEC builds case for keeping supply cuts 
OPEC on Thursday cut the forecast of global demand for its oil this year as rivals boost production, building a case for extending supply curbs beyond June to stop any new glut. Continued supply reductions would further support oil prices, which are up about 25 percent this year at $68 a barrel, and incur the wrath of U.S. President Donald Trump, who has demanded OPEC ease its efforts to bolster the market. Click here to read full stories.
 

Mar 15 - How Russia sank billions of dollars into Venezuela quicksand 
At the end of 2015, managers at Rosneft, the Russian state-controlled oil firm, sounded the alarm to their bosses about the company's investments in Venezuela. Rosneft's local partner, Venezuelan state oil company PDVSA, owed it hundreds of millions of dollars, according to internal documents, and there seemed no prospect things would get better. "It will be like this for eternity," a Rosneft internal auditor wrote in an email to a colleague in November 2015, complaining there was no progress in getting PDVSA to explain a $700 million hole in the balance sheet of a joint venture. Click here to read full stories.

Mar 15 - U.S. acts to keep Citgo operating in face of Venezuela sanctions 
The U.S. Treasury on Thursday gave U.S. refiner Citgo Petroleum Corp a further 18 months to buy crude and make debt payments while under sanctions against its parent, Venezuelan state-run energy firm Petróleos de Venezuela (PDVSA). The United States levied sanctions in January on PDVSA and Venezuela aimed at the removal of socialist President Nicolas Maduro, whom the United States and about 50 other countries no longer recognize as the country's legitimate leader.  Click here to read full stories.

Mar 15 - S.Korea's Feb Iran oil imports down 12.5 pct on-year 
South Korea's oil imports from Iran fell 12.5 percent year-on-year in February, customs data showed on Friday, as it resumed buying from the Middle Eastern nation under a waiver from U.S. sanctions, which restricted trading volumes. South Korea shipped in 983,497 tonnes of crude from Iran in February, or 256,412 barrels per day (bpd), compared to 1.12 million tonnes a year earlier, according to the customs data. February imports more than quadrupled from January volumes of 227,941 tonnes. Click here to read full stories.

Mar 15 - Environmental review could delay Carlyle deepwater oil export project up to 18 months 
A Carlyle Group $1 billion deepwater crude export project faces a delay of up to 18 months after regulators called for a full environmental review, officials said, a setback in the private equity firm's race to be first to open a new deepwater, U.S. Gulf Coast export hub. Carlyle and commodities trader Trafigura AG are vying to open the first Texas port in Corpus Christi that can fully load supertankers.  Click here to read full stories.

Mar 15 - India LNG demand journey to be shaky, slow due to infrastructure limits 
India's demand for liquefied natural gas (LNG) is set to rise by about 10 percent this year even as the country adds import capacity at a faster clip, because infrastructure constraints keep gas from getting to consumers and hinder growth rates. New Delhi made a commitment in the Paris Agreement of 2015 to reduce the carbon emissions intensity of India's economy by one-third, and aims to more than double the share gas has in its energy mix to 15 percent by 2030, from 6.2 percent now. Click here to read full stories.

Mar 15 - Despite Andean sun, renewable energy in Colombia faces cloudy outlook 
The 36,000 solar panels gleam in the tropical heat of a valley outside the city of Yumbo in western Colombia, feeding dozens of megawatts to a nearby soft drinks factory as well as the national grid. The solar farm, built on the site of a former coal plant, is one of two mounted by electricity generator Celsia - the first such commercial farms in the South American country. Click here to read full stories.

Mar 14 - U.S. aims to cut Iran oil exports to under 1 mln bpd from May - sources 
The United States aims to cut Iran's crude exports by about 20 percent to below 1 million barrels per day (bpd) from May by requiring importing countries to reduce purchases to avoid U.S. sanctions, two sources familiar with the matter told Reuters. U.S. President Donald Trump eventually aims to halt Iranian oil exports and thereby choke off Tehran's main source of revenue. Washington is pressuring Iran to curtail its nuclear program and stop backing militant proxies across the Middle East. Click here to read full stories.

Mar 14 - Oil storage tanks explode in Venezuela, while main terminal resumes shipments 
Two storage tanks exploded at a heavy-crude upgrading project in eastern Venezuela on Wednesday, according to an oil industry source and a legislator, while the country's main oil terminal resumed shipments after a prolonged blackout. The tanks at the Petro San Felix project were holding diluent, which is mixed with extra-heavy Orinoco belt heavy crude to make it lighter, legislator Jose Brito said in a telephone interview. Click here to read full stories.

Mar 14 - China's Jan-Feb refinery runs hit record, gas output up 9 pct on-yr 
Crude throughput at China's oil refineries in the first two months of 2019 rose 6.1 percent from a year earlier to a record on a daily basis, data showed on Thursday, as new privately-owned refiners started up their processing facilities. China's refiners processed 102.49 million tonnes of crude oil during January and February, according to the data from the National Bureau of Statistics (NBS).  Click here to read full stories.

Mar 14 - Exxon eyes Israel gas bid in major Middle East shift 
Exxon Mobil Corp is considering exploring for oil and gas in Israel, said a person with direct knowledge of the matter, in what would make Exxon the first oil major to operate in the country still technically at war with Gulf Arab states. A number of large gas discoveries offshore Israel and in nearby eastern Mediterranean waters in the last decade have made Israel a potentially lucrative prospect for big energy firms. The region is emerging as a new hot spot for gas exploration and production. Click here to read full stories.

Mar 14 - Reliance halts diluents export to Venezuela, not raised oil buying 
India's Reliance Industries Ltd, operator of the world's biggest refining complex, said on Wednesday it had halted supply of diluents to Venezuela's national oil company PDVSA and will not resume such sales until sanctions are lifted. Washington is preparing to impose "very significant" Venezuela-related sanctions against financial institutions in the coming days, U.S. special envoy Elliott Abrams said on Tuesday.  Click here to read full stories.

Mar 14 - Large-scale solar power set for double-digit growth - Goldman Sachs 
Utility-scale solar power capacity is expected to grow by double digits globally in 2019 and 2020, driven by expansions in the United States, Europe, Middle East and China, U.S. bank Goldman Sachs said on Thursday. Solar power is the fastest growing source of electricity generation, taking market share from fossil fuels like thermal coal and natural gas as governments and companies increasingly introduce clean energy targets. Click here to read full stories.

Mar 14 - First coal, now LNG jolted by climate change measures in Australia: Russell 
The concept that producers of fossil fuel will have to pay for the carbon emissions created by their use is something the industry will no doubt fight tooth and nail, but two recent developments in Australia show the battle may be starting. Australian liquefied natural gas (LNG) major Woodside Petroleum reacted angrily to recent moves by the environmental regulator in Western Australia state to require that projects offset their emissions. Click here to read full stories.

Mar 14 - U.S. crude stockpiles drop unexpectedly last week - EIA 
U.S. crude oil stockpiles declined unexpectedly last week as output slipped from record highs and refining rates edged up, while gasoline stocks decreased and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.9 million barrels in the last week, compared with analysts' expectations for an increase of 2.7 million barrels. Click here to read full stories.

Mar 14 - Deadly 2017 wildfire found sparked by So. California Edison power lines 
The devastating Thomas Fire that killed two people and destroyed more than 1,000 structures northwest of Los Angeles in December 2017 was sparked by power lines owned by Southern California Edison Co, fire officials said on Wednesday. An investigation of the fire's origins found that high winds blew Edison power lines into one another, creating an electrical arc that "deposited hot, burning or molten material" into dry vegetation on the ground, setting off the blaze, the Ventura County Fire Department said in a statement. Click here to read full stories.

Mar 13 - Venezuela's Guaido readies to open up oil industry after years of nationalization 
Venezuelan congress head Juan Guaido is preparing a groundbreaking reversal of late President Hugo Chavez's energy industry nationalization, allowing private companies a bigger role in its oilfields and shrinking state-run PDVSA, according to opposition advisers and a draft seen by Reuters. To Guaido, the self-declared interim president seeking to oust President Nicolas Maduro, the proposal is vital to reverse the collapse of the OPEC-member nation's oil industry. Click here to read full stories.

Mar 13 - Iran hunts for more ships to keep its oil flowing 
Iran is discreetly scouring the globe for second-hand oil tankers to replace its ageing fleet and keep crucial crude exports flowing as U.S. sanctions start to bite, Iranian and Western sources said. Since U.S. President Donald Trump reimposed sanctions in November, exploratory talks with South Korea for up to 10 new supertankers have stalled, Panama has removed at least 21 Iranian tankers from its registry and Tehran is now looking for extra vessels in places such as Vietnam, the sources said. Click here to read full stories.

Mar 13 - Pompeo calls on oil industry to support U.S. foreign policy agenda 
U.S. Secretary of State Mike Pompeo urged the oil industry on Tuesday to work with the Trump administration to promote U.S. foreign policy interests, especially in Asia and in Europe, and to punish what he called "bad actors" on the world stage. Addressing top executives of the world's largest energy companies and oil ministers in Houston, Pompeo said in prepared remarks that America's newfound shale oil and natural gas abundance would "strengthen our hand in foreign policy." Click here to read full stories.

Mar 13 - Iraq's SOMO drops partners, elbows its way into oil trading 
Iraq's state oil marketer SOMO has scrapped two joint ventures (JVs) and reduced contracts with some European customers to push its way into trading by selling more of its crude ad hoc, trading and industry sources said. After years of watching oil majors and independent traders benefit from large trading operations, state oil firms in North Africa and the Middle East have decided to grab back what they see as lost potential revenues. Click here to read full stories.

Mar 13 - U.S. shale oil may be the answer to Asia's heavy crude problem: Russell 
The historic discount that Asian buyers have enjoyed on heavier crudes has evaporated recently as such grades become scarcer, but it may just be that the answer lies in more light oil. Prices for heavier grades of crude have risen faster relative to light oils in Asia as the market tightens amid renewed U.S. sanctions against Iran, the ongoing political disintegration of Venezuela, and production curbs by OPEC and its allies. Click here to read full stories.

Mar 13 - EIA cuts forecast for 2019 U.S. crude output growth 
U.S. crude oil production is expected to grow slower than previously expected in 2019 and average about 12.30 million barrels per day (bpd) the U.S. Energy Information Administration (EIA) said on Tuesday. Production is expected to rise 1.35 million bpd from the prior year, but grow more slowly than the agency's previous forecast of a 1.45-million bpd rise. Click here to read full stories.

Mar 13 - Trump's EPA unveils plan to pump up ethanol as Big Oil cries foul 
The U.S. Environmental Protection Agency on Tuesday released its proposed rule lifting a summer ban on higher-ethanol blends of gasoline to help farmers, putting the agency on a collision course with Big Oil which has called the move illegal. The proposal to broaden sales of the so-called E15 rule marks the latest flashpoint in an ongoing battle between the corn and oil industries - two crucial constituencies for President Donald Trump - over America's biofuels policy. Click here to read full stories.

Mar 13 - Talk to 'Green New Deal' backers, BP CEO tells oil industry 
The oil industry should engage with proponents of the "Green New Deal," a Democratic initiative seeking to radically reduce U.S. dependence on fossil fuels, BP Chief Executive Officer Bob Dudley said on Tuesday. Dudley made the rare foray into U.S. politics in a keynote speech at the largest U.S. annual gathering of the oil and natural gas sector in Houston, urging peers to engage with young people or lose the trust of society. Click here to read full stories.

Mar 13 - PG&E spared criminal charges in deadly 2017 California wildfires 
An investigation into fierce wildfires that swept Northern California's wine country in 2017, killing 46 people, found no basis to criminally charge PG&E, the utility whose power lines helped spark the conflagration, prosecutors said on Monday. The decision, which leaves the company potentially liable for billions of dollars in civil damages, capped a review by the district attorneys of Sonoma, Napa, Humboldt and Lake Counties, as well as the state attorney general's office, according to a joint statement. Click here to read full stories.

Mar 12 - Barkindo says OPEC has helped U.S. shale, as the two plan to meet again 
U.S. shale companies have benefited from the supply-cut efforts from OPEC and its allies that boosted prices, OPEC Secretary General Mohammed Barkindo said during a Houston energy conference on Monday. His comments came ahead of an OPEC meeting with U.S. oil producers for the third straight year at IHSMarkit's CERAWeek conference, though this sit-down has attracted less attention than in past years. Click here to read full stories.

 
Mar 12 - Citgo, Valero try to return Venezuelan oil following sanctions -document 
The top U.S. buyers of Venezuelan oil are in the unusual position of trying to return millions of barrels of crude they need but cannot accept because of U.S. sanctions on the South American nation and its state-run energy firm PDVSA. PDVSA's U.S. refining subsidiary Citgo Petroleum Corp and Valero Energy are proposing to return 2 million barrels of crude loaded before sanctions, while a third U.S. oil company, Chevron Corp, has sought so far unsuccessfully to legally pay for 4.3 million barrels, according to an internal PDVSA document seen by Reuters. Click here to read full stories.

Mar 12 - IEA sees U.S. leading global oil supply growth to 2024 
The United States will drive global oil supply growth over the next five years, adding another 4 million barrels per day to the country's already booming output, the International Energy Agency said on Monday. U.S. oil output, including natural gas liquids (NGLs) and other hydrocarbons, will climb to 19.6 million bpd by 2024 from 15.5 million last year, the Paris-based agency said. Click here to read full stories.

Mar 12 - Pakistan to offer gas fields to foreign explorers, investors - official 
Pakistan plans to offers dozens of gas field concessions in the coming year to fill in a fuel shortage, a senior official said, with Islamabad hoping a sharp drop in militant violence and changes to exploration policy will attract foreign investors. Much of the mineral-rich South Asian nation remains unexplored despite gas discoveries dating back to the 1950s. Conventional gas reserves are estimated at 20 trillion cubic feet (tcf), or 560 billion cubic meters, and shale gas reserves, which are untouched, at more than 100 tcf. Click here to read full stories.

Mar 12 - Chinese energy exec sees room for cooperation with U.S.  
China's demand for natural gas leaves room for greater cooperation with the United States once a trade dispute is resolved, a China National Petroleum Corp Ltd executive said on Monday, citing ongoing talks on liquefied natural gas. China cut its U.S. LNG purchases last year after a trade dispute flared, causing the Trump administration to levy tariffs on Chinese goods and China to counter with a 10 percent tariff on imports of U.S. LNG. Click here to read full stories.

Mar 11 - Saudi's Falih says no OPEC+ output policy change until June 
Saudi oil minister Khalid al-Falih said on Sunday it would be too early to change OPEC+ output policy at the group's meeting in April and that China and the U.S. would lead healthy global demand for oil this year. The Organization of the Petroleum Exporting Countries and its allies such as Russia -- known as the OPEC+ alliance -- will meet in Vienna on April 17-18, with another gathering scheduled for June 25-26. Click here to read full stories.

 Mar 11 - U.S. presses India to stop buying oil from Venezuela's Maduro - envoy 
The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro's government, Washington's top envoy for Venezuela said, as the Trump administration this week threatened more U.S. sanctions to cut off Maduro's financial lifelines. "We say you should not be helping this regime. You should be on the side of the Venezuelan people," Elliott Abrams told Reuters in an interview. Click here to read full stories.

 Mar 11 - Oil majors strut into Houston for annual energy conference 
The oil industry converges this week on Houston at CERAWeek, the largest gathering of top energy executives in the Americas, with oil majors showing a bigger presence as the United States has taken the crown as the largest crude producer in the world. After a year that saw international crude oil prices surge to more than $87 a barrel in the fall then tumble, the market has been calmer of late, even with production limitations imposed by a combination of OPEC's output cuts and large-scale sanctions placed on Iran and Venezuela by the United States. Click here to read full stories.

Mar 11 - Occidental emerges as heavy hitter in U.S. oil export boom 
Occidental Petroleum Corp has emerged as one of the biggest exporters of U.S. shale oil, rivaling large trading firms and oil majors, in a market now worth more than $150 million every day. It is showing no signs of slowing down, with plans to double crude exports to 600,000 barrels per day in 2020, Cynthia Walker, senior vice president midstream and marketing at Occidental, said in an interview. Click here to read full stories.

Mar 11 - Nerves fray, tempers flare as Venezuela blackout hits fourth day 
Furious Venezuelans lined up to buy water and fuel on Sunday as the country endured a fourth day of a nationwide blackout that has left already-scarce food rotting in shops, homes suffering for lack of water and cell phones without reception. Authorities have managed to provide only patchy access to power since the outage began on Thursday in what President Nicolas Maduro called an act of U.S.-backed sabotage, but critics insist it is the result of incompetence and corruption. Click here to read full stories.

Mar 11 - Hedge funds raise bullish U.S. crude bets - CFTC 
Hedge funds and other speculators raised their bullish bets on U.S. crude in the latest week as prices firmed on hopes of a U.S.-China trade deal, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group raised its combined futures and options position in New York and London by 21,416 contracts to 155,426 in the week ended March 5. Click here to read full stories.

Mar 11 - U.S. oil drillers cut rigs for third week in a row - Baker Hughes 
U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months as independent producers follow through on plans to cut spending even though oil majors plan to spend more. Drillers cut nine oil rigs in the week to March 8, bringing the total count down to 834, the lowest since May, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. Click here to read full stories.

Mar 08 - China's resilient commodity imports contrast with weak exports: Russell 

If the sharp plunge in China's exports in February shows anything, it's that a gap is opening between what the country is shipping out and its still resilient imports of major commodities. Exports dropped 20.7 percent in February from the same month a year earlier, the largest decline in three years and much bigger than the 4.8 percent fall forecast by analysts.  Click here to read full stories.

Mar 08 - China's Feb crude imports surge 22 pct; gas imports drop from Jan 

China's crude oil imports rose to the third-highest volume on record on a daily basis on increasing purchases by new private refineries, while natural gas imports eased as demand dropped amid warmer temperatures, customs data showed on Friday. China, the world's biggest crude oil importer, took in 39.23 million tonnes of crude oil last month, the data from the General Administration of Customs showed. Click here to read full stories.

Mar 08 - At Brazil's Petrobras, an uphill struggle to vanquish graft 

Five years after Brazilian prosecutors exposed a long-running bribes-for-contracts racket at state-run oil firm Petrobras, the company is proclaiming it has cleaned up its act. It has run TV spots touting its whistleblower hotline as well as a compliance department created in the wake of Brazil's epic "Car Wash" corruption scandal, which damaged the oil giant, helped tip Brazil into recession and landed a former president behind bars. Click here to read full stories.

Mar 08 - Goldman Sachs further shrinks commodities trading 

Goldman Sachs Group Inc, once one of the most active banks in commodities trading, has cut 10 roles to further downsize its global commodities trading division amid rising costs and shrinking profits. Three sources familiar with the matter said on Thursday the cuts were announced this week following an annual review of headcount across all divisions and regions. Goldman Sachs declined to comment. Click here to read full stories.

Mar 08 - Amid rising trade tensions with U.S., India wants to extend Iran oil sanctions waiver - sources 

India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a waiver of U.S. sanctions past early May, two sources in India with knowledge of the matter said. India has reduced its purchases of Iranian oil, but has been in talks on extending a sanctions waiver, known as a significant reduction exception, a senior India official said in January.  Click here to read full stories.

Mar 08 - Venezuela's PDVSA says still working with German shipping firm 

Venezuela's state-run oil company PDVSA said on Thursday it has not halted business with maritime contractor Bernhard Schulte Shipmanagement (BSM), after the German firm notified it would remove crews operating 10 of 15 PDVSA vessels over unpaid fees and return the tankers. PDVSA's maritime arm PDV Marina declared an emergency on Tuesday due to lack of staff to immediately receive the vessels that BSM proposed to return to Venezuelan ports due to unpaid bills of at least $15 million. Click here to read full stories.

Mar 08 - US EPA aims to curb biofuel credit speculation by blocking outsiders 

The Environmental Protection Agency will attempt to stamp out speculation in the U.S. biofuel credit market by barring trading by non-industry players, publicizing large positions, and improving price transparency, a source familiar with the agency's proposals told Reuters on Thursday. The measures, included in a broader policy reform under review by the Trump administration, are intended to help U.S. oil refiners cope with the costs of complying with the U.S. Renewable Fuel Standard.  Click here to read full stories.

Mar 08 - U.S. LNG exports pick up, with Europe a major buyer 

Shipments of U.S. liquefied natural gas (LNG) have gathered pace in March and Europe is set to stay a top destination for spot cargoes with Asian prices still too low to ship the chilled fuel that far. But winter demand for gas is fading, while steady supplies of gas and LNG have kept inventories well stocked, depressing European gas hub prices. This has raised the question: how many more cargoes can Europe absorb? Click here to read full stories.

Mar 07 - Venezuela's PDVSA declares emergency as tankers returning - document 

Plans by the German operator of a portion of the Venezuelan state oil company's tanker fleet to return 10 vessels because of unpaid fees prompted a unit of state-run PDVSA on Tuesday to declare a maritime emergency, according to a document from the state-run firm and sources. PDVSA's weak finances, the result of mismanagement, a sharp decline in oil output and U.S. sanctions designed to oust President Nicolas Maduro, have prompted dozens of suppliers and partners to stop working for the company. Click here to read full stories.

Mar 07 - Exxon Mobil CEO sets plan to boost spending; shares dip 

Exxon Mobil Corp plans to boost capital spending for several years, CEO Darren Woods said on Wednesday, and the largest U.S. oil company's shares fell after he laid out a strategy to "lean in" while the rest of the industry cuts back. Exxon shares fell more than 1 percent after the company told analysts attending its annual investor meeting that it plans to lift spending by 10 percent or more for the next several years as rivals are sidelining equipment and capping spending to boost shareholder returns. Click here to read full stories.

Mar 07 - Britain targets a third of electricity from offshore wind by 2030  

Britain plans to generate a third of its electricity from offshore wind farms by 2030 and boost the value of exports of offshore wind services and equipment to 2.6 billion pounds ($3.4 billion) a year, the government said on Thursday. Britain, which aims to lift industrial productivity as it leaves the European Union, is the world's biggest offshore wind market with almost 40 percent of global capacity. On and offshore wind turbines met 17 percent of UK power needs in 2018. Click here to read full stories.

Mar 07 - U.S. crude inventories rise more than expected - EIA 

U.S. crude oil stockpiles rose much more than expected last week, while gasoline and distillate inventories fell more than forecast, drawing down for the third consecutive week as refining rates remained low, the Energy Information Administration said on Wednesday. Crude inventories rose 7.1 million barrels in the week to March 1, far exceeding analysts' expectations for an increase of 1.2 million barrels. Click here to read full stories.

Mar 07 - Rosneft opens trading arm in Singapore as part of Asian pivot 

Rosneft is opening a trading arm in Singapore as part of a pivot to Asia, the world's biggest and fastest-growing energy-consuming region, where the Russian state oil major plans to manage new projects and boost oil sales. Six sources familiar with Rosneft's strategy told Reuters the arm, Rosneft Singapore, had been registered at the end of 2018 and that several employees would relocate from Moscow during the spring and summer of 2019. Click here to read full stories.

Mar 06 - Chevron, Exxon take turns wooing investors with shale boasts 

The two biggest U.S. oil companies tried to outdo each other on Tuesday, boasting about their prowess in shale to lure investors to their side. Chevron Corp and Exxon Mobil Corp released dueling Permian Basin projections that, if realized, would cement the rivals as the dominant players in the West Texas and New Mexico field, with one-third of Permian production potentially under their control within five years. Click here to read full stories.

Mar 06 - When insanity makes sense. Australia's best option is LNG imports: Russell 

Australia has painted itself into a corner with its natural gas industry and faces the stark reality that there are no easy choices to alleviate the dual problem of a looming supply crunch and the associated higher prices. Australia is far from the first country to find itself with an energy issue, but it is unusual insofar as the country is about to become the world's largest exporter of liquefied natural gas (LNG), and still it can't get its policy settings right to ensure domestic supplies. Click here to read full stories.

Mar 06 - Carlyle in final talks to clinch $3.4 bln deal for Cepsa stake -sources 

Private equity firm Carlyle Group is ahead of other contenders to buy a 30 percent stake in Spain's Cepsa for up to 3 billion euros ($3.4 billion), just four months after owner Mubadala shelved a listing of the energy company, three sources familiar with the matter told Reuters. Carlyle, whose energy and natural resources division includes funds such as Neptune Energy, could reach an agreement within weeks, one of the sources said. Click here to read full stories.

Mar 06 - United States and China inch towards limited trade deal: Kemp 

China and the United States appear to be inching towards a trade deal, with leaders in both countries anxious to avoid a further, politically unpopular slowdown in their economies. China has reportedly offered to boost its purchases of farm and energy products substantially while making more modest concessions on technology transfer, intellectual property, market access, industrial policy and subsidies. Click here to read full stories.

Mar 05 - OPEC likely to defer output policy decision until June - sources 

OPEC and its partners are unlikely to decide on their output policy in April as it would be too early to get a clear picture of the impact of their supply cuts on the market by then, three OPEC sources said on Monday. The sources said the production policy by the so-called OPEC+ alliance is expected to be agreed on in June with an extension of the pact the likely scenario so far, but much depends on the extent of U.S. sanctions on both OPEC members Iran and Venezuela. Click here to read full stories.

Mar 05 - Hedge funds carry on buying oil despite Trump intervention: Kemp 

Hedge funds continued to boost their bullish position in crude and fuels last week despite a call from U.S. President Donald Trump for OPEC to "relax and take it easy". Hedge funds and other money managers were net buyers of an extra 16 million barrels of Brent crude futures and options in the week to Feb. 26, according to ICE Futures Europe. Click here to read full stories.

Mar 05 - Libya's NOC lifts force majeure at El Sharara oilfield 

Libyan state oil company NOC said on Monday it had lifted force majeure at the El Sharara oilfield, the country's biggest, which has been closed since December when state guards and tribesmen seized it. An oil engineer said oil production of the 315,000 barrels a day field was being restarted with a return to regular output expected in the next days, according to NOC. Click here to read full stories.

Mar 05 - Oil trader AOT Energy reviews Asia business plan 

Swiss commodities trader AOT Energy said on Tuesday it is reviewing its business plan in Asia and will restructure some business lines in the region. The move comes a year after the Zug-based group pared some staff in other regions and began talks with potential investors amid shrinking credit lines. Click here to read full stories.

Mar 05 - Australia's competition watchdog warns high gas prices threaten manufacturers 

Australia's gas prices are so high they could force the imminent shutdown of some manufacturing on the east coast, the nation's competition watchdog said on Tuesday, urging gas producers to step up output and offer reasonable prices. The warning comes three years after the Australian Competition and Consumer Commission first flagged prices were rising amid uncertainty over domestic gas supply, due to the start-up of liquefied natural gas (LNG) exports from the eastern state of Queensland, cuts in exploration spending and drilling bans. Click here to read full stories.

Mar 04 - Russian oil output down in February, misses global deal target 

Russian oil output stood at 11.34 million barrels per day (bpd) in February, down some 75,000 barrels per day from the October level, the baseline for a global deal, but still missing the accord target, Energy Ministry data showed on Saturday. This was also down from 11.38 million bpd in January. In tonnes, oil output reached 43.303 million versus 48.113 million in January. The production data was in line with what a source told Reuters on Friday.  Click here to read full stories.

Mar 04 - Australia planning to import LNG: What's next? Coals to Newcastle?  

Australia is on the verge of becoming the biggest exporter of liquefied natural gas, with dozens of tankers a week carrying fuel to North Asia. It could also soon be importing LNG as supply sources in its southern states run out. Five LNG import projects are vying to start up between 2021 and 2022, possibly forcing gas users in New South Wales, South Australia, Tasmania and Victoria into more direct competition with Asian buyers for gas from northern Australia. Click here to read full stories.

Mar 04 - NOPEC bills provide useful leverage for the White House: Kemp 

For a proposed statute still at the first stage of the legislative process, with only a handful of sponsors in the U.S. Congress, the “No Oil Producing and Exporting Countries Act of 2019” (NOPEC) is generating a lot of comment. The amount of attention being paid to the proposed legislation is out of all proportion to its probability of being enacted into law - unless oil prices spike higher at some point during the remainder of 2019 and 2020. Click here to read full stories.

Mar 04 - U.S. oil rig counts falls to lowest since May 2018 -Baker Hughes 

U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite an over 20-percent increase crude futures so far this year. Drillers cut 10 oil rigs in the week to March 1, bringing the total count down to 843, the lowest since May 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. Click here to read full stories.

Mar 01 - Venezuela's oil exports drop 40 pct after U.S. sanctions - data 

Venezuela's oil exports sank 40 percent in the first full month after the beginning of U.S. sanctions designed to oust Socialist President Nicolas Maduro, according to data from state-run oil firm PDVSA and Refinitiv Eikon. On Jan. 28, President Donald Trump's administration barred U.S. customers from paying for Venezuelan oil until a new government being formed by the nation's congress head Juan Guaido could be established to accept the proceeds.  Click here to read full stories.

Mar 01 - Norway's Aker BP switching gears from M&A to exploration 

Norwegian oil and gas company Aker BP is switching emphasis from M&A towards exploration, taking a potentially riskier path to increase its resources after years when it has relied on acquisitions to add the bulk of its new barrels. The company said the change of tack was prompted by falling exploration costs, partly as a result of new technologies, as well as the rising cost of acquisitions in the energy sector because of stronger oil prices. Click here to read full stories.

Mar 01 - U.S. energy secretary warns OPEC bill could spike oil prices longterm 

The United States needs to be cautious about pending legislation that would allow the Justice Department to sue OPEC and other oil producers over supply cuts because it could result in higher prices in the long term, U.S. Energy Secretary Rick Perry said on Thursday. "We need to be really careful before we pass legislation that may have an impact that goes way past its intended consequences," Perry said at a news conference. Click here to read full stories.

Mar 01 - U.S. crude oil output falls in Dec for first time since May - EIA 

U.S. crude oil production edged lower in December to 11.85 million barrels per day, its first decline since May, the U.S. Energy Information Administration said in a monthly report on Thursday. Production fell 56,000 bpd from a record 11.91 million bpd in November, the agency said. While output rose in Texas and North Dakota, the largest onshore oil-producing states, the gains were offset by production declines in the U.S. Gulf of Mexico. Click here to read full stories.

Mar 01 - India's diesel demand to hit record highs in 2019 as country goes to polls 

India's diesel consumption may rise to a record this year on increasing infrastructure spending by the current government as it tries to hold off challengers in general elections that will be held over April and May. Surging diesel consumption in India, the world's third-largest oil user, underscores the country's importance as a driver of global oil demand. Amid increasing concerns that crude demand growth may slip in 2019 because of slowing economic growth, India's burgeoning fuel consumption may help underpin oil and fuel prices. Click here to read full stories.

Mar 01 - Exxon's Cyprus gas discovery adds another giant to East Med collection 

ExxonMobil added another giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus but infrastructure bottlenecks and geopolitical disputes mean output from the field could be far off. Exxon, together with partner Qatar Petroleum (QP), estimated in-place gas resources in the reservoir at 5 to 8 trillion cubic feet (tcf) of gas, similar order of magnitude to the Aphrodite and Calypso gas finds nearby, also in Cypriot waters. Click here to read full stories.

Feb 28 - Asia's Iran crude oil imports dips to 2-month low in Jan; to rebound in Feb 

Asia's crude oil imports from Iran dipped in January to the lowest in two months after top buyers China and India slowed down purchases and as Japan recorded zero imports for a third month, government and trade data showed. Asia's top four buyers of Iranian crude - China, India, Japan and South Korea - imported a total 710,699 barrels per day of crude from Iran in January, 49 percent lower than the same month in 2018, the data collated by Thomson Reuters showed. Click here to read full stories.

Feb 28 - Meeting Maduro: Inside a U.S. businessman's oil deal with Venezuela 

In November 2017, Harry Sargeant III, a wealthy American businessman, flew to Venezuela to see about buying some oil. Sargeant, the former finance chairman of the Florida Republican Party, was looking to purchase a New Jersey asphalt plant that needed a steady supply of the heavy crude that Venezuela has in abundance. Click here to read full stories.

Feb 28 - Vietnamese tanker bound for N.Korea with gasoline cargo as Trump, Kim meet in Hanoi - data 

A Vietnamese tanker was bound for North Korea carrying 2,000 tonnes of gasoline, Refinitiv shipping data showed, just as North Korean leader Kim Jong Un and U.S. President Donald Trump prepared for key talks on security and cooperation in the Vietnamese capital Hanoi. The vessel, the Viet Tin 01, arrived just outside the harbour of Nampo on North Korea's western coast on Feb. 25 carrying 2,000 tonnes of gasoline, according to the data compiled by Refinitiv.  Click here to read full stories.

Feb 28 - Exxon adds veteran traders to bulk up oil trading - sources 

Exxon Mobil Corp has hired veteran crude traders Mitch Rubinstein and Michael Paradise in Houston, to further boost its trading capabilities, sources familiar with the matter told Reuters on Wednesday. In a break from its past, Exxon has been building a global cadre of experienced traders and beefing up risk management systems to lift profit.  Click here to read full stories.

Feb 28 - Saudi Arabia may raise April crude prices for Asia 

Top oil exporter Saudi Arabia is expected to raise April prices for most of the crude grades it sells to Asia, following a strengthening of Middle East oil benchmark Dubai over the past month, several trade sources said on Thursday. The April official selling price (OSP) for flagship Arab Light crude could remain unchanged or rise by up to 35 cents a barrel from the previous month, four refining sources said in a Reuters survey. Click here to read full stories.

Feb 28 - U.S. crude stockpiles fall unexpectedly as net imports slows - EIA 

U.S. crude oil stocks fell unexpectedly last week as net imports fell to record lows, despite production growing to all-time highs and abundant inventories at the Cushing, Oklahoma hub, the Energy Information Administration said on Wednesday. After five consecutive weekly builds, nationwide crude inventories fell 8.6 million barrels in the week to Feb. 22, compared with analysts' expectations for an increase of 2.8 million barrels. Click here to read full stories.

Feb 28 - China's 2018 coal usage rises 1 pct, but share of energy mix falls 

China's coal consumption rose for a second year in a row in 2018, but coal's share of total energy consumption fell below 60 percent for the first time as cleaner energy sources gained ground, official data showed on Thursday. The world's biggest coal consumer used 1 percent more coal in absolute terms last year than in 2017, China's National Bureau of Statistics said in an annual communique. Coal consumption had risen for the first time in four years in 2017. Click here to read full stories.

Feb 28 - Petrobras oil trader to plead guilty in U.S. money-laundering case - documents 

A former U.S.-based oil trader sought in Brazil over a multimillion-dollar bribery scheme involving commodities traders Vitol, Glencore and Trafigura has agreed to plead guilty to conspiracy to commit money-laundering in the United States, court records show. The plea is part of a cooperation agreement by a key figure in Brazil's "Car Wash" probe into corruption at state-run oil company Petroleo Brasileiro SA, according to people familiar with the matter. That scandal has toppled presidents in two countries and sent more than 130 politicians and businessmen to jail across Latin America. Click here to read full stories.

Feb 28 - Even China may not be able to soak up all 2019's new LNG: Russell 

Not even China's voracious appetite for liquefied natural gas may be enough to absorb the additional supplies hitting the market this year, with the price of the super-chilled fuel potentially a casualty. While China's LNG imports got off to a rollicking start in 2019, it's unlikely that will match the 41-percent growth experienced in 2018. Click here to read full stories.

Feb 27 - OPEC, allies to maintain oil output cuts despite Trump - source 

OPEC and its allies will stick with their agreement to cut oil supply, pushing for more adherence despite a demand by U.S. President Donald Trump that the producer group ease its efforts to boost crude prices, a Gulf OPEC source said on Tuesday. Based on current market data, the so-called OPEC+ group is "likely to continue with the production cuts until the end of the year", the source told Reuters. Click here to read full stories.

Feb 27 - Citgo formally cuts ties with Venezuela-based parent company -sources 

U.S. refiner Citgo Petroleum Corp is formally cutting ties with its parent, state-run oil firm Petroleos de Venezuela SA, to meet U.S. sanctions imposed on the OPEC country, two people close to the decision told Reuters on Tuesday. Executives at the Houston-based firm set a Feb. 26 deadline to end relationships with PDVSA following sanctions designed to curb oil revenues to socialist President Nicolas Maduro and support the nation's transition government formed by Venezuelan congress head Juan Guaido. Click here to read full stories.

Feb 27 - Saudi Arabia to boost oil exports to China with strategy shift 

Saudi Arabia is set to boost crude exports to China in 2019 as demand there grows and after Saudi Aramco shifted strategy to boost its market share in the world's second biggest oil consumer. Saudi crude exports to China are expected to rise to about 1.5 million barrels per day (bpd) in the first quarter, from about 1 million bpd in 2018, a source familiar with the matter said on Tuesday. Click here to read full stories.

Feb 27 - Libya's recognised govt agrees with state oil firm to reopen El Sharara oilfield 

Libya's internationally recognised government has agreed with state oil firm NOC on steps to reopen the El Sharara oilfield and lift force majeure, a contractual waiver, a government statement said on Tuesday. But it was unclear how this will happen as the Tripoli-based government this month lost effective control of the 315,000 barrel a day field when forces allied to an eastern-based parallel government took over. Click here to read full stories.

Feb 27 - U.S. asked China for lower ethanol tariffs - agriculture secretary 

Agriculture Secretary Sonny Perdue said on Tuesday that U.S. trade negotiators have asked China to reduce tariffs on U.S. ethanol, but it was not immediately clear whether Beijing was willing to oblige. "They are engaged in conversation, they listen and hear us, but we are at this stage unable to determine the willingness factor," he told reporters on the sidelines of an event in Washington. Click here to read full stories.

Feb 26 - Trump warns Saudi Arabia on oil prices as focus turns to re-election: Kemp 

U.S. President Donald Trump has warned OPEC not to tighten the oil market too much and risk another spike in prices that could harm the global economy – and his re-election campaign in 2020. “Oil prices getting too high,” the president warned in a message posted on Twitter on Monday. “OPEC please relax and take it easy. World cannot take a price hike – fragile!” Click here to read full stories.

Feb 26 - Trump's positive rhetoric on China not matched by crude, LNG, coal trade: Russell 

Markets have cheered U.S. President Donald Trump's assertion that a deal with China is "very, very close," but data on China's imports of U.S. oil, liquefied natural gas and coal show that once a trade flow is interrupted, getting it back is hard. China's imports of U.S. crude oil were zero for a second month in a row in January, according to Chinese customs data released on Monday.  Click here to read full stories.

Feb 26 - Curacao refinery gets court order for unloading Venezuelan oil 

A Curacao refinery has received a court order requiring shippers to discharge a cargo of Venezuelan oil seized by maritime companies due to debts owned by Venezuela's state-run company PDVSA, Refineria di Korsou said in a statement on Monday. Venezuela's crude exports, which provide the bulk of its export revenue, have tumbled because of declining production, PDVSA mismanagement and U.S. sanctions aiming to oust Venezuelan President Nicolas Maduro. Click here to read full stories.

Feb 26 - UAE to host Libyan meeting to try reopen El Sharara oilfield - diplomats 

The United Arab Emirates is bringing together players in Libya's conflict and the state oil firm to try to reopen the El Sharara oilfield, the North African country's biggest, diplomats and other sources said on Monday. The UAE is the biggest backer of Khalifa Haftar, a key figure and commander of the Libyan National Army (LNA) force, which this month took control of two oilfields in Libya's south, El Sharara and the nearby El Feel facility. Click here to read full stories.

Feb 26 - Hedge funds bet cautiously on even higher oil prices: Kemp 

Hedge funds added more bullish positions in crude and fuels in the most recent week in the expectation that positive trade talks between the United States and China would keep the global economy expanding.  Saudi Arabia’s substantial output cuts and U.S. sanctions on Iran and Venezuela also are restricting crude supplies and helping eliminate a previously expected surplus in the market in 2019. Click here to read full stories.

Feb 26 - Platts adds Rotterdam-priced oil cargoes to Brent benchmark 

Oil pricing agency S&P Global Platts plans to adjust the way it calculates the price of North Sea dated Brent by reflecting cargo offers on a delivered basis, its latest move to ensure enough supply underpins the global benchmark. A steady decline in crude production from the North Sea has led to concern that output could become too low and hence could be accumulated by just a few players, making the benchmark vulnerable to manipulation. Click here to read full stories.

Feb 25 - UAE light oil posts longest discount run since 2017 as Asian buyers switch 

Abu Dhabi's flagship Murban crude has sold at a discount in Asia to its official selling price (OSP) for four straight months - the longest stretch in nearly two years - as buyers opt for cheaper U.S. and European supplies, according to trade sources and Refinitiv data. Cargoes bought for loading in the first four months of 2019 were sold at discounts ranging from 5 cents to 40 cents a barrel, even as producer Abu Dhabi National Oil Company (ADNOC) cut the grade's benchmark price for four consecutive months. Click here to read full stories.

Feb 25 - UAE's ADNOC seals $4 bln pipeline infrastructure deal with KKR, BlackRock 

Abu Dhabi National Oil Company (ADNOC) has sealed a $4 billion midstream pipeline infrastructure deal with U.S. investment firms KKR and BlackRock, the government-owned company said on Sunday. ADNOC has been expanding through strategic partnerships since 2017. Last month it won a combined $5.8 billion investment from Italy's Eni and Austria's OMV for a stake in its refining business to establish a new trading operation owned by the three partners.  Click here to read full stories.

Feb 25 - The battle for Citgo: How Venezuela's opposition leaders seized control 

Asdrubal Chavez, chief executive of Houston-based Citgo Petroleum Corp, boarded the Venezuelan-owned firm's corporate jet in Caracas on Jan. 30, after meeting with top officials of the embattled administration of socialist President Nicolas Maduro about the latest U.S. oil sanctions. Upon landing in the Bahamas - where Chavez has worked for about a year after being denied a U.S. visa - he had received word from Houston that it would be his last trip on a company plane and that his Citgo email account had been shut off. Click here to read full stories.

Feb 25 - Crude and politics mingle as Saudi crown prince visits India, China: Russell 

Trade and investment were the reported themes of Saudi Crown Prince Mohammed bin Salman recent visits to India and China, but it's probably more than coincidence that those two countries also happen to be the biggest buyers of Iranian crude oil. Last week's trips to New Delhi and Beijing were centred on splashy trade announcements, including a $10 billion refining and petrochemical complex in China, and talk of $100 billion of deals in India.  Click here to read full stories.

Feb 25 - Global LNG trade to rise 11 pct this year - Shell  

Global liquefied natural gas (LNG) trade will rise 11 percent to 354 million tonnes this year as new facilities increase supplies to Europe and Asia, Royal Dutch Shell  said in an annual LNG report on Monday. Shell, the largest buyer and seller of LNG in the world, said trade rose by 27 million tonnes last year, with Chinese demand growth accounting for 16 million tonnes of those volumes. Click here to read full stories.

Feb 25 - Investor demands could push out more U.S. shale oil executives 

Weak returns at U.S. shale producers could cost more executives their jobs and lead to increasing battles with activist investors, analysts said following changes at two producers. After years of outspending cash flow to expand oil and natural gas production, executives are under pressure to pull back on spending and deliver higher returns. Click here to read full stories.

Feb 25 - Hedge funds cut bullish bets on U.S. crude in week to Feb. 5 - CFTC 

Hedge funds trimmed their bullish wagers on U.S. crude in the week to Feb. 5, data showed on Friday, as uncertainty about trade added to worries about a slowdown in the global economy. The speculator group cut its combined futures and options position in New York and London by 6,330 contracts to 145,509 during the week, the U.S. Commodity Futures Trading Commission (CFTC) said. Click here to read full stories.

Feb 22 - Nigeria hits oil majors with billions in back taxes 

Nigeria has ordered foreign oil and gas companies to pay nearly $20 billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa's largest economy. In a letter sent to the companies earlier this year via a debt-collection arm of the government, Nigerian National Petroleum Corp (NNPC) cited what it called outstanding royalties and taxes for oil and gas production. Click here to read full stories.

Feb 22 - China must balance U.S. trade deal with fostering its own ag sector: Braun 

China is facing a tall task in the agriculture sector, as an agreement with the United States could have the Asian country buying far more goods than ever before, but potentially at the expense of its own industry and other trade partners. On Wednesday, Reuters reported that the United States and China have begun to outline the specific commitments that a full trade deal would cover, with one of those items being agricultural purchases by China. Click here to read full stories.

Feb 22 - U.S. crude stocks extend build as output hits record 12 mln bpd 

U.S. crude oil stockpiles rose for a fifth straight week to the highest in more than a year, as production hit a record high and seasonal maintenance kept refining rates low last week, the Energy Information Administration said on Thursday. Crude inventories rose 3.7 million barrels in the week to Feb. 15, to 454.5 million barrels, the highest since October 2017. Analysts polled by Reuters had forecast an increase of 3.1 million barrels. Click here to read full stories.

Feb 22 - Engie to scale back overseas, cut costs to boost revenues - sources 

Utility Engie is poised to cut back its geographical spread of businesses and focus on grids and renewables in a 1 billion euro cost-cutting drive to bolster revenues, sources familiar with the matter said. Engie has been criticised for being too complex and conglomerate-like and CEO Isabelle Kocher is expected to address this in a 2019-2021 corporate strategy plan to be announced next Thursday, when the company also releases 2018 results. Click here to read full stories.

Feb 22 - How Pemex 'destroyed' $1 bln with erratic business choices 

Mexico's state-oil company Pemex burned through $665 million at its fertilizer unit, ignored consultants and made high-risk investments with no discernible business strategy, according to a devastating government audit of its 2017 operations. The report, published late on Wednesday, offers insight into how Pemex ended up creaking under $106 billion of debt during the six-year term of former President Enrique Pena Nieto. Click here to read full stories.

Feb 22 - Canada's Cenovus bets on rail to move crude, fearing full pipelines 

Cenovus Energy is pressing ahead with aggressive plans to transport more crude by rail, contrasting itself with peers who have hit the brakes, as the Canadian oil producer bets that pipeline bottlenecks are likely to return. Pipeline congestion depressed Canadian oil prices last year, prompting Cenovus and other producers to increase their reliance on rail to move crude to U.S. refineries. Alberta's provincial government imposed mandatory production cuts in January, an unusual step that succeeded in narrowing the gap - called a differential - between Canadian and U.S. prices. Click here to read full stories.

Feb 21 - Chinese traders freeze Australian coal orders amid 40-day customs delays - sources 

Chinese coal traders have stopped ordering Australian coal as clearing times through China's customs have doubled to at least 40 days, according to major buyers in China and international coal merchants, resulting in a sharp fall in Australian prices. The traders and a broker said only cargoes from Australia, the biggest supplier of the fuel to the world's top consumer, were affected. Click here to read full stories.

Feb 21 - India's thermal coal imports could rise 10 pct this year - Adani exec 

India's thermal coal imports could rise by about 10 percent in 2019 due to rail transport problems and other logistical bottlenecks, an executive at the country's largest coal trader Adani Enterprises said on Tuesday. Thermal coal imports rose in 2018 after two years of decline, despite moves by Prime Minister Narendra Modi’s government to cut the country's imports in a bid to reduce the trade deficit Click here to read full stories.

Feb 21 - Venezuela gets fuel from Russia, Europe but the bill soars 

Venezuela is paying heavy premiums for fuel imports from Russia and Europe, with fewer than a dozen sellers seeing the risk as worth the reward after flows from the United States dried up because of sanctions, trading sources said and data showed. The South American nation exports crude but its refineries are in poor condition - hence the need to import gasoline and diesel for petrol stations and power plants, as well as naphtha to dilute its heavy oil. Click here to read full stories.

Feb 21 - China's Dalian port bans Australian coal imports, sets 2019 quota - source 

Customs at China's northern Dalian port has banned imports of Australian coal and will cap overall coal imports for 2019 through its harbours at 12 million tonnes, an official at Dalian Port Group told Reuters on Thursday. The indefinite ban on imports from top supplier Australia, effective since the start of February, comes as major ports elsewhere in China prolong clearing times for Australian coal to at least 40 days. Click here to read full stories.

Feb 21 - Saudi Aramco in talks on further Indian investments

Saudi Aramco, the world's top oil exporter, is in talks on possible investments in Indian projects involving companies including Reliance Industries, operator of the world's biggest refining complex, its chief executive said on Wednesday. Major oil producers like Aramco are targeting Asia, where fuel demand is growing, as a stable outlet for their oil, and are splashing out on improvements in refining capacity there. Click here to read full stories.

Feb 21 - Saudi Arabia resumes familiar role as swing producer: Kemp 

Saudi Arabia has resumed its traditional role as the swing producer, sharply reducing its own output to tighten the oil market and push prices higher. The de facto OPEC leader has demonstrated, once again, that it can always tighten the physical market, boost prices and push the calendar spread into backwardation - if it is prepared to cut its own production enough. Click here to read full stories.

Feb 21 - Kinder Morgan to expand Chicago ethanol hub to calm glut concerns - sources 

Kinder Morgan Inc will expand barge-loading capacity at its ethanol terminal in Chicago to help relieve a supply glut there that is driving down global prices for the biofuel, three people briefed on the company's plans told Reuters. Tens of thousands of barrels of ethanol change hands at the Kinder Morgan Argo terminal daily, and prices there are used as the benchmark for deals across the country, and are also baked into international contracts. Click here to read full stories.

Feb 21 - Buffett's Suncor bet to revive investor interest in Canadian energy 

Berkshire Hathaway Inc's re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said.  The move is also seen by some as a wager the energy sector could benefit from a change in the guard in Canada's oil-rich Alberta province, which has an election this year. Click here to read full stories.

Feb 20 - Mild weather sees spot LNG slide continue (ICIS)
- Continued mild weather in Asia and Europe over the last four weeks has seen global spot LNG prices continue their decline. It has also opened up questions about how low the market could settle in the summer if high inventories at the end of winter reduce the need for restocking over summer, at the same time that new production facilities are entering the market.
- The East Asia Index (EAX) for March spot deliveries to Japan, China, South Korea and Taiwan fell from $8.05/MMBtu in mid-January to $6.35/MMBtu in mid-February, as the key LNG importers in the east Asia region saw relatively mild temperatures, reduced the need for gas heating. The EAX was down 17% from the previous monthly average, and down 30% from the same time a year earlier.

Feb 20 - Despite sanctions, Iran's oil exports rise in early 2019 - sources 

Iran's exports of crude oil were higher than expected in January and are at least holding steady this month, according to tanker data and industry sources, as some customers have increased purchases due to waivers from U.S. sanctions. Shipments are averaging 1.25 million barrels per day (bpd) in February, Refinitiv Eikon data showed and a source at a company that tracks Iranian exports said. They were between 1.1 and 1.3 million bpd in January, higher than first thought. Click here to read full stories.

Feb 20 - U.S. shale oil output to hit record 8.4 mln bpd in March - EIA 

U.S. oil output from seven major shale formations is expected to rise 84,000 barrels per day (bpd) in March to a record of about 8.4 million bpd, the U.S. Energy Information Administration said in a monthly report on Tuesday. The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 43,000 bpd to a record 4.024 million bpd in March. Click here to read full stories.

Feb 20 - Fire hits PDVSA pumping station, disrupting Venezuela crude transport 

A fire hit a crude oil pumping station in Venezuela's Orinoco belt region on Tuesday, state-owned oil company Petroleos de Venezuela (PDVSA) said, disrupting crude transportation as the cash-strapped firm struggles with the impact of U.S. sanctions. The fire at the Ero pumping station, which has the capacity to transport 300,000 barrels per day of crude, was controlled and no one was injured, the company said in a statement. But the incident will affect transport of crude through pipelines, a source at the company said, without providing further details. Click here to read full stories.

Feb 20 - Republican backlash against Trump EPA pick fueled by 'biofuel reset' 

EPA acting administrator Andrew Wheeler rejected a proposal from his staff that would have reduced the ambition of the nation’s biofuel policy over the next three years, arguing the targeted range it included for annual ethanol consumption was too low, according to two sources familiar with the matter. The decision, made in December as part of the EPA's effort to reset targets set by Congress in 2007 closer to market reality, has become a source of concern among the oil industry’s Republican legislative backers, some of whom have threatened to withhold support for Wheeler's confirmation as permanent EPA head over his views on ethanol. Click here to read full stories.

Feb 20 - Hedge funds raise bullish bets on U.S. crude in week to Jan. 29 - CFTC 

Hedge funds raised bullish wagers on U.S. crude in the week to Jan. 29, data showed on Tuesday, as the United States imposed sanctions on state-owned Venezuelan oil company PDVSA, a move that helped relieve some global oversupply worries. The speculator group raised its combined futures and options position in New York and London by 23,533 contracts to 151,840 in the week to Jan. 29, the U.S. Commodity Futures Trading Commission (CFTC) said. Click here to read full stories.

Feb 19 - Hedge funds accelerate oil buying: Kemp 

Investors bought crude oil futures and options at the fastest rate for almost six months in the week to Feb. 12. Hedge fund managers are becoming steadily more bullish on the outlook for oil prices as Saudi Arabia makes deep cuts in production, sanctions hit Venezuela and Iran, and the U.S. and China inch towards a trade deal. Click here to read full stories.

Feb 19 - Indian state to move planned Saudi Aramco refinery after farmers protest 

Opposition from farmers has prompted India's western state of Maharashtra to move the location for what would be the country's biggest oil refinery, Chief Minister Devendra Fadnavis said. Stare-run oil companies and Saudi Aramco have teamed up to build the $44 billion refinery, which is aimed at giving India steady fuel supplies while meeting Saudi Arabia's need to secure regular buyers for its oil. Click here to read full stories.

Feb 19 - Chinese traders halt Australian coal orders as customs delays pile up - sources 

Chinese coal traders have stopped ordering Australian coal as clearing times through China's customs have doubled to at least 40 days, according to major buyers in China and international coal merchants, resulting in a sharp fall in Australian prices. The traders and a broker said only cargoes from Australia, the biggest supplier of the fuel to the world's top consumer, were affected. Click here to read full stories.

Feb 19 - How South African mines cope with power cuts 

South African utility Eskom imposed the worst power cuts in several years on homes and businesses last week, conjuring up memories of the 2008 crisis when the grid nearly collapsed and cost the mining industry billions in lost output. Although Eskom - which supplies around 90 percent of power in Africa's most industrialised economy - paused the blackouts on Friday for the first time in five days, it warned that its creaking infrastructure could buckle at any time. Click here to read full stories.

Feb 18 - India advises refiner to avoid U.S. system for Venezuela oil buying - source 

India has asked one buyer of Venezuelan oil to consider paying the South American nation's national oil company PDVSA in a way that avoids the U.S. financial system, an Indian government source said, after Washington imposed fresh sanctions on Venezuela last month. The United States is seeking to cut off Venezuela's oil revenue and pressure the nation's President Nicolas Maduro to step down after it recognised opposition leader Juan Guaido as head of state. Click here to read full stories.

Feb 18 - Russia's Gazprombank freezes accounts of Venezuela's PDVSA - source 

Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under U.S. sanctions, a Gazprombank source told Reuters on Sunday. While many foreign firms have been cutting their exposure to PDVSA since the sanctions were imposed, the fact that a lender closely aligned with the Russian state is following suit is significant because the Kremlin has been among Venezuelan President Nicolas Maduro’s staunchest supporters. Click here to read full stories.

Feb 18 - European LNG influx plays into Gazprom’s hands this winter 

Changing gas price dynamics caused by an influx of liquefied natural gas (LNG) to Europe have played into Russian producer Gazprom's hands and enabled it to increase pipeline flows to the continent so far this year. Gazprom is moving determinedly with spot gas sales in Europe due to a near-fivefold spike in U.S. LNG sales to the continent in October to January compared with a year earlier. Click here to read full stories.

Feb 18 - Indian Oil signs first annual deal for U.S. oil 

Indian Oil Corp, the country's top refiner, has signed its first annual deal to buy U.S. oil, paying about $1.5 billion for 60,000 barrels a day in the year to March 2020 to diversify its crude sources, its chairman said on Monday. IOC is the first Indian state refiner to buy U.S. oil under an annual contract, in a deal that will also help boost trade between New Delhi and Washington. Click here to read full stories.

Feb 18 - Hedge funds raise bullish U.S. crude bets in week to Jan. 22 -CFTC 

Hedge funds and other money managers raised their bullish bets on U.S. crude in the week to Jan. 22, data showed on Friday, in a week when crude prices rose on anticipation that OPEC supply cuts would curb a global overhang. The speculator group raised its combined net long futures and options position in New York and London by 17,050 contracts to 128,307 during the period, the U.S. Commodity Futures Trading Commission said. Click here to read full stories.

Feb 18 - U.S. drillers add oil rigs for second week in a row -Baker Hughes 

U.S. energy firms increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. output keeps growing from record levels. Companies added three oil rigs in the week to Feb. 15, bringing the total count to 857, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. Click here to read full stories.

Feb 15 - S.Korea resumes Iranian oil imports in Jan, but at lower level 

South Korea resumed imports of Iranian oil in January after a four-month hiatus, customs data showed on Friday, but shipments were down 76 percent from the same month last year. The world's fifth-largest crude importer won a six-month waiver in November from U.S. sanctions on Tehran's oil exports, but did not immediately start imports, mainly due to payment and insurance issues. Click here to read full stories.

Feb 15 - Global coal, LNG prices tumble as supply surges and demand weakens 

Thermal coal and natural gas prices are tumbling, with both falling their lowest since 2017, as the outlook for the most used power generation fuels darkens due to tepid demand. Feeding an emerging glut is a surge in exports. Refinitiv trade data showed shipments of liquefied natural gas (LNG) from key exporters Australia, Qatar, Malaysia and the United States rose to a record 19.5 million tonnes in January, up from 14.5 million tonnes two years ago. Click here to read full stories.

Feb 15 - Saudi Arabia partly shuts Safaniyah oilfield after power cable cut - source 

Saudi Aramco has partially shut its Safaniyah offshore oilfield after a main power cable was cut by a vessel's anchor, a source familiar with the matter said on Friday. The shutdown occurred earlier this week, the source said, and it was not immediately clear when the field would be back at full capacity. Click here to read full stories.

Feb 15 - As traders tussle over tankers, Turkmenistan slashes oil exports 

A clash between trading house Vitol and Azerbaijan's SOCAR over Caspian Sea oil shipments is forcing Turkmenistan to slash exports of crude due to a lack of tankers. Turkmenistan typically exports about 200,000 tonnes of oil per year via the Caspian to world markets, mainly from fields operated by the UAE's ENOC and Italy's Eni, but flows have halved in recent weeks, six traders involved in operations said. Click here to read full stories.

Feb 15 - U.S. shale executives predict oil production constraints to remain 

Drilling curbs by oil producers in the largest U.S. shale field will continue until transport bottlenecks ease and investors stop punishing companies for increasing capital spending, executives at an energy conference said on Thursday. The price of crude in the Permian Basin of West Texas and New Mexico fell sharply last year, selling as much as $18 below U.S. benchmark prices, as a lack of pipeline capacity landlocked some oil output and as investors pushed producers to reduce spending and boost shareholder returns. Click here to read full stories.

Feb 15 - Big firms weigh in as France looks to revive offshore wind 

A French wind power tender has attracted interest from a slew of international energy heavyweights, signalling that France's offshore wind industry could finally be taking off after years of missteps. While Britain and Germany have already built 8,200 and 6,400 megawatts (MW) of offshore wind capacity - enough to power millions of homes - France does not have a single turbine in the water. Click here to read full stories.

Feb 15 - Oil price risks shift to upside: Kemp  

Oil traders no longer expect the market to be over-supplied this year, amid optimism a full-blown U.S.-China trade war will be averted, and oil production growth will slow thanks to OPEC cuts and sanctions on Venezuela. Front-month Brent futures prices have jumped to almost $65 per barrel, up from just $50 in late December, and the highest for nearly three months. Click here to read full stories.

Feb 15 - U.S.-owned utility to close two coal plants, in blow to Trump 

The Tennessee Valley Authority voted on Thursday to close two aging coal-fired power plants, including one supplied by a company led by a major supporter of President Donald Trump, who had urged the U.S.-owned utility to keep it open. "It is not about coal. This decision is about economics," said President and Chief Executive Bill Johnson, who is retiring from the TVA. "It's about keeping rates as low as feasible." Click here to read full stories.

Feb 14 - FBI investigating top Vitol executives in Americas - sources 

The FBI is investigating energy trading firm Vitol's top two executives in the Americas in connection with a Brazil bribery case, two sources with direct knowledge of the matter said, deepening the U.S. role in a probe of foreign oil firms' dealings with state-controlled Petrobras. The FBI's targeting of the Vitol executives is the second recent sign that U.S. authorities are stepping up their involvement in the trading fraud case, the latest twist in Brazil's sweeping "Car Wash" corruption probe.  Click here to read full stories.

Feb 14 - Venezuela opposition takes steps to seize oil revenue as Maduro issues threat 

Venezuela's opposition-controlled congress named new temporary boards of directors to state-oil firm PDVSA on Wednesday, in an effort to wrest the OPEC nation's oil revenue from increasingly isolated socialist President Nicolas Maduro. Maduro lashed out at the congress leader, Juan Guaido, saying in an interview that he would face the courts "sooner or later" for violating the constitution, after Guaido invoked constitutional provisions last month to assume an interim presidency. Click here to read full stories.

Feb 14 - China's Jan crude oil imports rise from a year ago, gas imports at record 

China's crude oil imports in January rose 4.8 percent from a year earlier, customs data showed on Thursday, with refineries building up their stockpiles ahead of the Lunar New Year holidays that fell in early February. Natural gas imports into the world's biggest importer of the fuel rose to a monthly record of 9.81 million tonnes, exceeding the previous peak in December of 9.23 million tonnes, as state-run importers hiked volumes in anticipation of increasing heating demand. Click here to read full stories.

Feb 14 - EU brings industry together to tackle dollar dominance in energy trade 

The European Union has convened a wide-ranging industrial group to work on promoting the euro and fighting the monopoly of the U.S. dollar in oil and commodities trading, reflecting broader tensions with Washington over trade and sanctions. The group, which involves executives from European oil firms such as OMV and Eni and gas and power firms such as Fluxys and Engie, will meet behind closed doors in Brussels under the auspices of the European Commission on Thursday. Click here to read full stories.

Feb 14 - China's coal imports surge, but prices tell a better story: Russell 

China's coal imports soared in January, more than tripling from the prior month to 33.5 million tonnes, but there are compelling reasons to treat this outcome with caution, including weakness in benchmark Australian coal prices. January's coal imports were the highest in five years, rising 228 percent from the weak 10.23 million tonnes reported for December. Click here to read full stories.

Feb 14 - U.S. crude inventories rise to highest in more than a year - EIA 

U.S. crude oil inventories rose last week to the highest since November 2017 as refiners cut runs to the lowest since October 2017, the Energy Information Administration said on Wednesday. The increase came despite falling net imports, which dropped to the lowest on record, as domestic crude production remained at peak levels for the fifth straight week. Click here to read full stories.

Feb 14 - EU gas pipeline rules could slow Russia's Nord Stream 2 

The European Union reached a provisional deal on Wednesday on new rules governing import gas pipelines, casting doubt over the operating structure of Russia's planned Nord Stream 2. The Russian pipeline already faces uncertainty after Denmark's potential ban on its planned route through its territorial waters and sanction threats by the United States. Click here to read full stories.

Feb 13 - Venezuela turns to India for oil exports as U.S. sanctions bite 

Venezuela's oil exports have tapered off and shifted toward India since new U.S. sanctions began Jan. 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions. The South American nation is turning its focus to cash-paying buyers, especially in India, its second-largest customer after the United States, amid U.S. sanctions designed to undercut financial support for Venezuelan President Nicolas Maduro. Click here to read full stories.

Feb 13 - OPEC cuts oil supply steeply but sees growing 2019 headwinds 

OPEC said on Tuesday it had cut oil production steeply under a global supply deal, although it flagged headwinds confronting its efforts to prevent a glut this year including weaker demand and higher rival output. In a monthly report, OPEC said its oil output fell almost 800,000 barrels per day in January to 30.81 million bpd. That is still slightly more than the demand OPEC expects for its crude on average in 2019. Click here to read full stories.

Feb 13 - Goldman expects oil prices to rise on 'shock and awe' output cuts 

Larger-than-expected production cuts by some major oil suppliers and falling seasonal crude inventories due to growing demand are set to push up oil prices, Goldman Sachs said. The U.S. bank expects benchmark Brent crude prices to touch $67.50 per barrel in the second quarter of 2019, up from $63.07 per barrel at 0638 GMT on Wednesday.  Click here to read full stories.

Feb 13 - Asia's crude oil refiners are caught between Trump and OPEC: Russell 

Asia's oil refiners are increasingly finding themselves trapped between the rock of OPEC's production cuts and the hard place of U.S. President Donald Trump's sanctions against Iran and Venezuela. While the region, which accounts for about half of the world's refining capacity, is still able to source oil, it's becoming harder to get hold of the grades of crude that many Asian refiners prefer. Click here to read full stories.

Feb 13 - Venezuela's self-declared president Guaido to nominate own Citgo board -sources 

Advisers to Venezuela's self-declared president Juan Guaido have proposed he appoint six executives to a transitional board for U.S. refiner Citgo Petroleum Corp, Venezuela's most important foreign asset, four people close to the talks said. The congress chief wants to secure control of the U.S. subsidiary of Venezuelan state-run energy firm PDVSA as he seeks to assemble an interim government. Controlling Citgo and other assets outside Venezuela, especially those that generate revenue, would provide him with much-needed funds. Click here to read full stories.

Feb 13 - U.S. oil output to hit new record above 13 mln bpd in 2020 - EIA 

U.S. crude oil output is expected to rise 1.45 million barrels per day (bpd) this year and 790,000 bpd more next year, bringing total output to 13.2 million bpd, the Energy Information Administration said in a monthly forecast on Tuesday. U.S. oil production this year is forecast to be at a record 12.41 million bpd, the EIA said. The country's oil output has surged, boosted by technology to unlock production from shale formations. Click here to read full stories.

Feb 13 - Hedge funds raise bullish bets on U.S. crude in week to Jan. 15-CFTC 

Hedge funds upped bullish wagers on U.S. crude in the week to Jan. 15, data showed on Tuesday, as prices climbed on hopes that tensions between China and the United States would ease but worries about a weakening global economy capped gains. The speculator group increased its combined futures and options position in New York and London by 26,105 contracts to 111,256 during the period, the U.S. Commodity Futures Trading Commission (CFTC) said. Click here to read full stories.

Feb 12 - Venezuela pressures foreign partners on oil venture commitments - sources 

Foreign partners of Venezuela's PDVSA are facing pressure from the state-run oil firm to publicly declare whether they will continue as minority stakeholders in Orinoco Belt projects following U.S. sanctions, three people familiar with the matter said. The sanctions on Petroleos de Venezuela (PDVSA), imposed last month in an attempt to dislodge Venezuelan President Nicolas Maduro, barred access to U.S. financial networks and oil supplies for the PDVSA joint ventures, pressuring the nation's already falling crude output and exports.  Click here to read full stories.

Feb 12 - East Libyan forces say they have full control of El Sharara oilfield 

Eastern Libyan military forces have full control of Libya's biggest oilfield, El Sharara, a spokesman said, in a challenge to the internationally recognised government in Tripoli. There was no immediate confirmation or comment from state oil firm NOC which operates with foreign partners the 315,000 barrels-per-day (bpd) field deep in Libya's southern desert. Click here to read full stories.

Feb 12 - With Iran squeezed out, U.S. oil takes on new rivals in Europe 

When the global oil trading industry gathered for its biggest annual meeting in Asia in September last year, U.S. oil producing companies came well prepared. U.S. giant Exxon Mobil and European rival Royal Dutch/Shell prepared brochures for oil buyers detailing various U.S. crude grades and why they were suitable to replace part of Asia's long-standing supplies from the Middle East, Africa and Russia. Click here to read full stories.

Feb 12 - OPEC, Russia draft cooperation charter offers no formal body - document 

Scared by looming U.S. anti-cartel legislation for the oil industry, the Organization for the Petroleum Exporting Countries and its allies such as Russia have decided against creating a formal body, at least on paper. A draft of a document - setting up a new alliance and dated January 2019 - and seen by Reuters carefully avoids any mention of sensitive issues such as oil prices, market share and production cuts. Click here to read full stories.

Feb 12 - U.S. EPA may issue E15 gasoline plan without biofuel credit trade limits - sources 

The U.S. Environmental Protection Agency is considering releasing its draft proposal to expand sales of higher ethanol blends of gasoline without including simultaneous measures it promised the oil industry to curb biofuel credit speculation, according to three sources familiar with the matter. The move would help the agency lift a summertime ban on sales of so-called E15 gasoline in time for the U.S. driving season, but is likely to anger oil refiners that had been asking the Trump administration for biofuel credit market reforms to reduce their costs. Click here to read full stories.

Feb 12 - Traders expect Cushing builds as refinery issues add to swelling supply 

U.S. crude traders are bracing for increasing supplies at Cushing, Oklahoma, the delivery point for benchmark crude futures, as unexpected refinery issues add to inventories that are already at the highest in more than a year. Inventories at Cushing rose to 42.6 million barrels in the week to Feb. 1, the highest level since early January 2018, the U.S.Energy Information Administration said. Problems at a key Midwest refinery, along with upcoming seasonal maintenance, have traders believing supplies will rise more than expected at Cushing in coming weeks. Click here to read full stories.

Feb 12 - Fund buying slows on crude but Venezuela supports diesel

Hedge funds added more bullish positions in crude at the start of February but at a much slower pace than before, as optimism about OPEC output cuts was tempered by renewed anxiety about the U.S.-China trade talks. Hedge funds and other money managers increased their net long position in Brent crude futures and options for the eighth time in the last nine weeks but by just 1 million barrels. Click here to read full stories.

Feb 11 - How Venezuela turns its useless bank notes into gold 

Venezuela's most successful financial operations in recent years have not taken place on Wall Street, but in primitive gold-mining camps in the nation's southern reaches. With the country's economy in meltdown, an estimated 300,000 fortune hunters have descended on this mineral-rich jungle area to earn a living pulling gold-flecked earth from makeshift mines. Click here to read full stories.

Feb 11 - Sanctions, OPEC cuts push Asia's sour crude oil prices above Brent 

Middle East oil benchmarks Dubai and DME Oman have nudged above prices for Brent crude, an unusual move as U.S. sanctions on Venezuela and Iran along with output cuts by OPEC tighten supply of medium to heavy sour oil, traders and analysts said. Sour crudes, mainly produced in the Middle East, Canada and Latin America, have a high sulphur content and are usually cheaper than Brent, the benchmark for low-sulphur oil in the Atlantic Basin. Click here to read full stories.

Feb 11 - Russia's Sechin raises pressure on Putin to end OPEC deal 

Igor Sechin, head of Russian oil giant Rosneft and one of Vladimir Putin's closest allies, has written to the Russian president saying Moscow's deal with OPEC to cut oil output is a strategic threat and plays into the hands of the United States. The letter did not say whether the agreement in place since 2017 between the Organization of the Petroleum Exporting Countries (OPEC) and other large oil producers led by Russia to cut output should be extended or not. Click here to read full stories.

Feb 11 - Venezuela moves to replace U.S. executives on Citgo board - sources 

Venezuelan state-run oil company PDVSA is taking steps to remove at least two American executives from the board of directors of its U.S. refining subsidiary, Citgo Petroleum Corp, according to people close to the matter. Citgo is facing unprecedented challenges to its finances and management after the U.S. government imposed tough sanctions on Petroleos de Venezuela designed to prevent oil revenue from going to leftist President Nicolas Maduro. The United States and dozens of other nations have refused to recognize Maduro, viewing his reelection last year to another six-year term as fraudulent. Click here to read full stories.

Feb 11 - Shell leads cash race but Exxon catching up 

Royal Dutch Shell widened its lead over Exxon Mobil as king of cash among the world's top oil and gas companies last year but its U.S. rival could catch up with its investment drive in new production. The five leading firms, known as oil majors, more than tripled profits and doubled cash generation since 2016 as deep cost cutting bore fruit after an industry slump. Click here to read full stories.

Feb 11 - IMF Lagarde says oil exporters have not fully recovered from oil shock, cautions against "white elephant projects" 

Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the IMF said on Saturday, and she cautioned against spending money on "white elephant projects". "With revenues down, fiscal deficits are only slowly declining, despite significant reforms on both the spending and revenue sides, including the introduction of VAT and excise taxes," Christine Lagarde, the managing director of the IMF, told a conference in Dubai. Click here to read full stories.

Feb 11 - Hedge funds cut U.S. crude net longs in week to Jan 8 - CFTC 

Hedge funds and other money managers cut their bullish U.S. crude positions in the week to Jan. 8, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The release was delayed by the U.S. government shutdown. Click here to read full stories.

Feb 08 - Trading houses hit speed bumps in reselling Venezuelan oil - sources 

Trading houses that resell Venezuelan crude oil have not yet found workarounds since the United States announced sanctions to cut off socialist President Nicolas Maduro's revenue, according to shipping data and sources. Merchants, trading partners and Venezuela's state-run PDVSA were expecting oil swaps and so-called triangulation of sales to be the easiest ways to continue shipping, as has happened when sanctions were imposed on other nations, such as Iran and Russia.  Click here to read full stories.

Feb 08 - U.S. House panel passes bill targeting OPEC oil supply cuts 

A U.S. House of Representatives committee approved a bill on Thursday that would open up the Organization of the Petroleum Exporting Countries to antitrust lawsuits, but it was uncertain if the measure would be considered by the full chamber. The House Judiciary Committee passed the bipartisan bill, known as the No Oil Producing and Exporting Cartels Act, or NOPEC, on a voice vote. Click here to read full stories.

Feb 08 - Australian thermal coal prices fall to lowest since April 2018 on weak China demand 

Australian thermal coal prices have fallen to their lowest since April 2018 as a slowdown in Chinese imports dents demand for the commodity. Spot cargo prices for Australian thermal coal exports from the port of Newcastle were last settled at $95.75 per tonne, the lowest since a spike in April 2018 pushed prices above $100 a tonne. Click here to read full stories.

Feb 08 - Oil and economy poised between growth and recession: Kemp 

Policymakers and analysts who claim the outlook is "unusually uncertain" are normally overstating their own forecasting problem and understating the difficulties faced by their predecessors. The outlook always looks more certain in retrospect, when the outcome is known, and a causal chain can be constructed that makes it appear nearly inevitable, than it does in prospect, when multiple pathways look possible. Click here to read full stories.

Feb 08 - U.S. opens probe into Brazilian oil bribery scheme - sources 

The U.S. Justice Department is investigating a former U.S.-based oil trader for Brazil's Petrobras already charged in his home country with taking part in a corruption scheme involving commodity companies Vitol SA, Glencore PLC and Trafigura AG, according to people familiar with the matter. It was the first confirmation that U.S. investigators have joined a new phase of Brazil's "Car Wash" corruption probe, which has toppled presidents in two countries and sent more than 130 politicians and businessmen to jail across Latin America. Click here to read full stories.

Feb 07 - Long, strange trip: How U.S. ethanol reaches China tariff-free 

In June, the High Seas tanker ship loaded up on ethanol in Texas and set off for Asia. Two months later - after a circuitous journey that included a ship-to-ship transfer and a stop in Malaysia - its cargo arrived in China, according to shipping data analyzed by Reuters and interviews with Malaysian and Chinese port officials. Click here to read full stories.

Feb 07 - Venezuela opposition plans to get oil money from U.S. fund 

Venezuela's opposition on Wednesday said it would use a U.S.-based fund to receive some of the country's oil income in a key step to bankroll its efforts to dislodge President Nicolas Maduro. The fund would receive income accrued by state-run oil firm PDVSA's U.S. unit Citgo Petroleum Corp since last month, when U.S. President Donald Trump recognized Juan Guaido as Venezuela's legitimate head of state, opposition legislator Carlos Paparoni told Reuters. Click here to read full stories.

Feb 07 - Partial oil upgrading the latest fix for Canada's pipeline problem 

Canada's struggling oil industry is looking to what is known as partial upgrading technology to thin its sludge-like crude and squeeze more of it through congested pipelines. It is the latest effort by the Alberta provincial government to rescue an industry hurt last year by steep discounts for its oil, as production far exceeded pipeline capacity. The government has already forced output cuts, given subsidies topetrochemical plants and said it would invest in trains to move crude. Click here to read full stories.

Feb 07 - Eastern Libyan forces take over El Sharara oilfield 

Eastern Libyan forces loyal to Libyan commander Khalifa Haftar captured the closed El Sharara oilfield on Wednesday, officials said in a challenge to the Tripoli government. El Sharara was taken over on Dec. 8 by groups of tribesmen, armed protesters and state guards demanding salary payments and development funds. Click here to read full stories.

Feb 07 - U.S. oil, gasoline inventories up in latest week - EIA 

U.S. crude stocks rose less than expected last week, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories rose by 1.3 million barrels in the week ended Feb. 1, compared with analysts' expectations for an increase of 2.2 million barrels. Click here to read full stories.

Feb 07 - U.S.-China talks dominate oil outlook: Kemp 

The deadline for the United States and China to reach a trade deal before U.S. tariffs increase on $200 billion worth of Chinese imports (scheduled for March 2) is the most important date in the calendar for oil traders. The deadline will probably have more impact than the next OPEC+ joint ministerial monitoring committee (March 18), OPEC’s extraordinary meeting (April 17-18) or even the White House review of Iran sanctions waivers (May 4). Click here to read full stories.

Feb 06 - Loss of Venezuelan oil exports won't leave huge gap in global market 

There is ample spare capacity in other oil producers and strategic reserves to compensate for a loss of Venezuela's crude exports, helping explain the tepid reaction of global oil prices to U.S. sanctions announced a week ago. Venezuela exports around 1 million barrels of oil per day, about 1 percent of global production, of which half heads to the United States. Many U.S. refineries are designed to run heavier, sour grades of crude, a good portion of which comes from Venezuela. Click here to read full stories.

Feb 06 - In squeezed oil industry, some rethink hunt for new barrels 

New partnerships are emerging in the global hunt for oil discoveries, with some explorers essentially offering an outsourcing service for the riskiest part of the energy business. Central to this new strategy are efforts to find an ally earlier in the process of discovering new fields, and on a larger scale, in order to save money as budgets remain tight after the oil price slump of 2014. Click here to read full stories.

Feb 06 - EU moves to make UK charge VAT on commodity trading include ICE Europe 

Moves by the European Commission to make Britain charge value-added tax on commodity derivatives trading will include ICE Futures Europe, the London Platinum and Palladium Market (LPPM) and the London Metal Exchange (LME), trading sources say. The Commission has been looking at zero-rated VAT on commodity derivatives trading in the UK for some years, but sources say recent activity is part of a drive to pressure Britain ahead of its European Union withdrawal in March. Click here to read full stories.

Feb 06 - Equinor raises dividend, capital expenditure as Q4 profit lags 

Norwegian oil and gas firm Equinor raised its quarterly dividend and plans to boost capital spending in 2019 as it develops new fields in Brazil, the company said on Wednesday. Equinor's adjusted operating earnings before interest and tax rose to $4.39 billion in the fourth quarter from $3.96 billion during the same period of 2018, lagging a forecast of $4.8 billion in a Reuters poll of analysts. Click here to read full stories.

Feb 06 - Qatar Petroleum, Exxon invest in $10 bln Texas LNG project 

Qatar Petroleum and Exxon Mobil Corp said on Tuesday they are investing in a $10 billion project to expand a liquefied natural gas (LNG) export plant in Texas, as companies race to meet global demand for the fuel. Construction of the Golden Pass LNG project in Sabine Pass, Texas, is expected to begin early this year. The project will add production capacity of around 16 million tonnes of LNG per year after it starts up in 2024. Click here to read full stories.

Feb 05 - Armada of tankers with Venezuelan oil forms in U.S. Gulf - sources, data 

A flotilla loaded with about 7 million barrels of Venezuelan oil has formed in the Gulf of Mexico, some holding cargoes bought ahead of the latest U.S. sanctions on Venezuela and others whose buyers are weighing who to pay, according to traders, shippers and Refinitiv Eikon data. The Trump administration's move to impose sanctions last week was meant to undercut support for Venezuelan President Nicolas Maduro by targeting the Latin American nation's oil exports to the United States, the source of most of its foreign revenue. Click here to read full stories.

Feb 05 -  Russia complying with global deal to cut oil output - energy minister 

Russia is complying fully with its pledge to cut oil production gradually, Energy Minister Alexander Novak said on Monday. He said Russian oil production decreased by 47,000 barrels per day (bpd) in January from October, the baseline for the global deal aimed at reducing oil supply. Click here to read full stories.

Feb 05 - Oil bears sent back into hibernation by economic optimism, OPEC, Venezuela: Kemp 

Hedge funds are becoming steadily less bearish towards oil as OPEC output cuts and U.S. sanctions on Venezuela remove large volumes of crude from the market amid increasing confidence a global recession can be averted. Hedge funds and other money managers were net buyers of another 30 million barrels of Brent crude futures and options in the week to Jan. 29, according to position data from ICE Futures Europe. Click here to read full stories.

Feb 04 - U.S. cracks down on foreigners dealing in Venezuela oil 

U.S. sanctions will sharply limit oil transactions between Venezuela and other countries and are similar to but slightly less extensive than those imposed on Iran last year, experts said on Friday after looking at details posted by the Treasury Department. Treasury's notice makes more explicit that the sanctions restrict foreign entities from doing business with Venezuela using the U.S. financial system or U.S. brokers after April. With most oil transactions conducted in dollars, that is expected to sharply curtail off Venezuela's efforts to seek buyers around the world.  Click here to read full stories.

Feb 04 - Russian oil output down in January, misses global deal target 

Russian oil output declined to 11.38 million barrels per day (bpd) in January, or by around 35,000 bpd from the October 2018 level, the baseline for the global oil accord, missing the deal's target, Energy Ministry data showed on Saturday. This was down from 11.45 million bpd in December, a record monthly high. In tonnes, oil output reached 48.113 million versus 48.442 million in December. Click here to read full stories.

Feb 04 - Exxon, Chevron 4th-qtr profits lifted by U.S. shale gains 

Exxon Mobil Corp and Chevron Corp, two of the world's largest oil producers, on Friday posted improved quarterly earnings that benefited from double-digit percentage increases in production from the top U.S. shale field. Shares of both companies rose about 3 percent. Click here to read full stories.

Feb 04 - South Africa will struggle to boost coal exports, even if it wants to: Russell 

There may be some irony in climate change being blamed for an increase in weather delays that resulted in South Africa's coal exports dropping 4 percent last year, but in reality the rough seas at the country's Richards Bay terminal are the least of the industry's worries. Shipments from Richards Bay declined to 73.5 million tonnes in 2018 from 76.5 million the prior year, well below the 91 million tonnes capacity of the terminal, which is the second-biggest in the world behind Newcastle Port in Australia. Click here to read full stories.

Feb 04 - Hedge funds raised U.S. net longs in week of Dec. 24 - CFTC 

Hedge funds and other money managers raised their bullish bets on U.S. crude futures and options in the week to Dec. 24, the U.S. Commodity Futures Trading Commission (CFTC) said in a report Friday that had been delayed by the U.S. government shutdown. The commitment of traders report, which is normally released weekly, is being distributed on a modified schedule following the shutdown. Click here to read full stories.

Feb 01 - U.S. refiners cut processing as Venezuela sanctions lift crude costs 

Some U.S. refiners have begun reducing crude processing as crude oil costs have risen following U.S sanctions on Venezuela and as gasoline margins crashed to their lowest in nearly a decade, market sources said on Thursday. Venezuela ships about 500,000 barrels of crude oil to the United States daily, which refiners use to produce gasoline and diesel. But sanctions announced on Monday by Washington, aimed at driving President Nicolas Maduro out of power after his contested re-election last year, are expected to cut off or dramatically reduce those shipments.  Click here to read full stories.

Feb 01 - Drill, China, drill: State majors step on the gas after Xi calls for energy security 

China's state energy giants are set to raise spending on domestic drilling this year to the highest levels since 2016, focusing on adding natural gas reserves in a concerted drive to boost local supplies. Responding to President Xi Jinping's call last August to boost domestic energy security, China's trio of oil majors - PetroChina, Sinopec Corp and CNOOC Ltd - are adding thousands of wells at oil basins in the remote deserts of the northwest region of Xinjiang, shale rocks in southwest Sichuan province and deepwater fields of the South China Sea. Click here to read full stories.

Feb 01 - OPEC oil output drops on Saudi cut, outages and sanctions 

OPEC oil supply has fallen in January by the largest amount in two years, a Reuters survey found, as Saudi Arabia and its Gulf allies over-delivered on the group's supply-cutting pact while Iran, Libya and Venezuela registered involuntary declines. The 14-member Organization of the Petroleum Exporting Countries has pumped 30.98 million barrels per day (bpd) this month, the survey showed on Thursday, down 890,000 bpd from December and the largest month-on-month drop since January 2017. Click here to read full stories.

Feb 01 - Exxon CEO combines exploration units to reverse output declines 

Exxon Mobil Corp on Thursday outlined a major reorganization of its global exploration businesses aimed at reversing years of weak oil and gas output. Chief Executive Darren Woods, who took over the helm two years ago, has spent billions to buy production, build new pipelines and expand refineries after a series of costly misfires on deals under predecessor Rex Tillerson. Click here to read full stories.

Feb 01 - U.S. crude production in November rose to 11.9 million bpd - EIA 

U.S. crude oil production rose to a new high of 11.9 million barrels per day in November, up 345,000 bpd from the previous month, the U.S. Energy Information Administration said in a monthly report on Thursday. The increase came as output in Texas rose 115,000 bpd and Gulf of Mexico offshore production rose by 188,000 bpd, outstripping a slight decline in North Dakota, where production fell by 11,000 bpd. Click here to read full stories.

Feb 01 - Oil faces uphill struggle as shale, growth risks challenge OPEC cuts - poll

Oil prices will struggle to gain much upward traction this year, as concern about the global economy and growth in U.S. crude supply could offset a boost from OPEC production cuts and sanctions on Iran and Venezuela, a Reuters poll showed. "The 'low for longer' view is deferred but not repealed," Julius Baer analyst Carsten Menke said. Click here to read full stories.

Feb 01 - CME Group reports first trade for low-sulphur marine fuel contract 

The first batch of derivative contracts for a cleaner type of marine fuel oil that complies with stricter emissions rules starting in 2020 traded on the New York Mercantile Exchange (NYMEX), the CME Group said on Friday. A trade for 10 lots of the Singapore free-on-board (FOB) marine fuel with 0.5 percent sulphur content mini futures contract was cleared on Jan. 31, a Singapore-based spokesman for the CME Group said in an e-mail on Friday. Click here to read full stories.

Jan 31 - Tug-of-war: U.S. refiner Citgo caught in Venezuela political upheaval 

Citgo Petroleum Corp, the eighth largest U.S. refiner and Venezuela's top foreign asset, is in the middle of a tug-of-war as the Trump administration tries to use the company as leverage to topple Venezuelan President Nicolas Maduro. Following the U.S. decision to impose sanctions on Venezuela's oil industry this week, both sides have engaged in aggressive moves for control of Citgo, which has roots in the United States dating back 100 years, but has been owned by Venezuela's state-owned Petroleos de Venezuela, or PVDSA, for three decades. Click here to read full stories.

Jan 31 - Hit by sanctions, Asia's Iran crude oil imports drop to 3-yr low in 2018 

Iranian crude oil imports by Asia's top four buyers dropped to the lowest volume in three years in 2018 amid U.S. sanctions on Tehran, but China and India stepped up imports in December after getting waivers from Washington. Asia's top four buyers of Iranian crude - China, India, Japan and South Korea - imported a total 1.31 million barrels per day (bpd) in 2018, down 21 percent from the previous year, data from the countries showed. Click here to read full stories.

Jan 31 - Saudi Arabia may hold most oil prices to Asia steady in March, Venezuela impact eyed 

Saudi Arabia is expected to keep prices for most of the crude grades it sells to Asia little changed in March, with most attention on heavier grades following sanctions on Venezuela, traders said on Thursday. The top oil exporter may keep the official selling price (OSP) for flagship Arab Light crude in March unchanged from the previous month, tracking a steady Dubai benchmark, or drop it slightly by 10 cents a barrel, a Reuters survey of five refiners showed. Click here to read full stories.

Jan 31 - U.S. crude stockpiles rise less than expected, gasoline draws down - EIA 

U.S. crude oil stockpiles rose less than expected last week due to a drop in imports, while gasoline and distillate inventories fell as refiners slowed down production, the Energy Information Administration said on Wednesday. Crude inventories rose 919,000 barrels in the week to Jan. 25, compared with analysts' expectations for an increase of 3.2 million barrels. Click here to read full stories.

Jan 31 - EU to impose duties on Argentine biodiesel producers (AgriCensus)
EU member states on Wednesday agreed to impose import duties on Argentine biodiesel, but will exempt several exporters if they honour a commitment to sell above an agreed floor price. In a meeting of the EU’s Trade Defence Instrument Committee, a majority of member states agreed to accept an undertaking from Argentine producers that they would sell above a particular price, while those exporters who fail to do so would be subject to the anti-subsidy duties.
“The Commission’s proposal to accept a commitment from several Argentinian suppliers to export to Europe at an agreed sustainable price level was also broadly supported by the Member States,” a European Commission source told Agricensus.
“The commitment will exclude these Argentinian producers from anti-subsidy duties to be imposed by the European Commission, while at the same time restoring the level playing field for European producers.”
It is understood that this “sustainable price” has not yet been specified, but that the annual volume of Argentine biodiesel that could be exempted from EU anti-subsidy duties — provided that a minimum price threshold is adhered to — would be 1.2 million mt.
Argentina exported around 1.3 million mt of biodiesel to the EU between September 2017 and late 2018, according to EU producers, citing trade data.
- Quarterly limits
The European Biodiesel Board, the main lobby for EU-based producers, said the EU Commission had also set limits on imports of no more than 37% of annual volume per quarter and any imports above the 1.2 million mt threshold would be taxed at 30%.
Traders said that much of the impact of the decision had already been factored in from earlier this month, when the European Commission said it will be willing to accept the deal, which has the backing of the Argentine government.  
"I believe that the market already has it [the EU-Argentina deal] priced [in] and that's why we do not see a reaction in today's market, it was a decision that was expected for the most part to have a positive end for Argentina," said Pablo Pochettino, a broker with Argentinian brokerage Intagro. The European Commission had proposed in December that duties ranging from 25% to 33.4% should be imposed, depending on which companies are the source of the imports.
- Major players
Previous sets of duties on Argentine and Indonesian biodiesel were reduced and then removed by the EU in late 2017, in view of rulings by the European Court of Justice and the World Trade Organisation. Wednesdsay's decision will have consequences for the country's crush and biodiesel industry, with major international agribusiness companies such as Cofco, Bunge, Louis Dreyfus and Cargill all owning production capacity in the country. Many of Argentina’s large biodiesel producers are thought to have backed the commitment to sell at a minimum price. The EU initiated an anti-subsidy investigation a year ago into claims from European producers that Argentine exporters had benefitted from a range of subsidies that enabled them to sell well below the costs of production for EU producers.

Jan 30 - Global oil industry braces for turmoil from U.S. crackdown on Venezuela 

More than 24 hours after the United States announced large-scale sanctions on Venezuela's nationally owned oil company, merchant trading firms and refiners were still deciphering what the measures prohibited. The sanctions, announced on Monday, are aimed at driving President Nicolas Maduro from power, the strongest U.S. measures yet against the socialist president who has overseen economic collapse and an exodus of millions of Venezuelans in recent years.  Click here to read full stories.

Jan 30 - S.Korea's big buys on U.S. oil, gas to keep bilateral ties strong 

South Korea's purchases of U.S. oil and gas this year will hold to the rapid pace set in 2018, likely narrowing its trade surplus with the world's top economy further and bolstering its ties to Washington. South Korea is expected in January and February to import at least 18 million barrels of crude oil and 900,000 tonnes of liquefied natural gas (LNG) from the United States, according to trade flow data from Refinitiv Eikon. Click here to read full stories.

Jan 30 - Libya's El Sharara oilfield won't reopen until occupiers leave - NOC 

Libya's biggest oilfield, El Sharara, will remain shut until an armed group occupying the site leaves, the head of National Oil Corp (NOC) said on Tuesday, more than a month after the field closed because of a protest. "The armed group attempting to hold NOC and Libya's economic recovery to ransom must leave the field before NOC will consider restarting production," NOC Chairman Mustafa Sanalla told a Chatham House conference in London. Click here to read full stories.

Jan 30 - Mexico's fuel thieves undeterred by deadly blast 

Days after a fireball erupted near the Mexican town of Tlahuelilpan, killing at least 117 people pilfering gasoline from a pipeline, the area's fuel bandits were back in business. Illegal taps, some of them newly opened, were the giveaway that fuel was flowing again. Soldiers patrolling this area in central Mexico after the Jan. 18 tragedy told Reuters they found 15 illicit spigots just a few kilometers away on the same pipeline operated by the nation's state-owned oil company Petroleos Mexicanos or Pemex. Click here to read full stories.

Jan 30 - EU seeks to soothe U.S. by clearing soybeans for biofuel 

The European Commission said on Tuesday it had concluded that U.S. soybeans can be used in biofuels in the European Union, part of the bloc's push to improve strained trade relations with the United States. However, industry sources said it was unlikely to lead to a flood of additional U.S. soybean imports into Europe. Click here to read full stories.

Jan 30 - PG&E files for bankruptcy as California wildfire liabilities loom 

PG&E Corp, owner of the largest U.S. power utility, filed for bankruptcy protection on Tuesday in anticipation of liabilities in excess of $30 billion from the deadliest wildfires in California's history. PG&E, which provides electricity and natural gas to 16 million customers in northern and central California and employs 24,000 people, vowed to keep the lights on and continue with critical investments it said were needed in its system's safety and maintenance. Click here to read full stories.

Jan 30 - U.S. gasoline consumption stalls, adding to oil producers' problems: John Kemp 

U.S. gasoline consumption was flat in the first 10 months of 2018 as escalating motor fuel prices offset the impact of a strong economy and big employment gains. Flat-lining U.S. gasoline consumption combined with surging U.S. shale production and a slowing global economy to push the oil market towards surplus and explains the plunge in prices late last year. Click here to read full stories.

Jan 29 - U.S. sanctions Venezuelan state oil firm, escalating pressure on Maduro 

The Trump administration on Monday imposed sweeping sanctions on Venezuelan state-owned oil firm PDVSA, aimed at severely curbing the OPEC member's crude exports to the United States and at pressuring socialist President Nicolas Maduro to step down. Minutes before the announcement, Juan Guaido, the Venezuelan opposition leader who proclaimed himself interim president last week with U.S. backing, said congress would name new boards of directors to the company and its U.S. subsidiary, Citgo. Click here to read full stories.

Jan 29 - Chevron to buy Texas refinery from Brazil's Petrobras - sources 

Chevron Corp has agreed to buy a Texas oil refinery with a troubled past and space to handle a coming flow of shale from its West Texas operations, two sources familiar with negotiations said on Monday. The U.S. oil major is expected to disclose the deal to acquire a 112,000 barrel-per-day (bpd) refinery in Pasadena, Texas, this quarter, the sources said. The plant is operated by Pasadena Refining System Inc, a Texas-based unit of Brazil's state-run oil firm Petroleo Brasileiro SA. Click here to read full stories.

Jan 29 - Exxon OK's project to nearly double size of Texas refinery - sources 

Exxon Mobil Corp has given final approval to an expansion that would nearly double the size of its 365,000 barrel-per-day (bpd) Beaumont, Texas, refinery, making it the largest in the United States, said two people familiar with the company's plans. The largest U.S. oil producer, which has been considering a third processing unit at the plant since at least 2014, has authorized financing for equipment needed to convert shale crude from its West Texas oilfields into precursors for gasoline, diesel, jet fuel and other refined products. Click here to read full stories.

Jan 29 - Hedge funds return to oil as OPEC removes some downside risk: John Kemp 

Hedge fund managers stepped up their purchases of oil and refined products last week on growing hopes of a U.S.-China trade truce and that the global economy will avoid a severe slowdown in 2019. But fund buying has been concentrated in crude rather than fuels, which is consistent with producer club OPEC tightening the supply side of the market while the demand outlook remains more uncertain. Click here to read full stories.

Jan 28 - Saudi Aramco doubles down on S.Korea with $1.6 bln bet on Hyundai Oilbank 

State-owned Saudi Aramco plans to invest up to $1.6 billion for a nearly 20 percent stake in South Korean refiner Hyundai Oilbank, expanding its foothold in one of its biggest Asian buyers of crude oil. Saudi Aramco is already the biggest shareholder in South Korea's No.3 refiner, S-Oil Corp, with a 63.41 percent stake, and the latest deal should help Aramco boost crude oil sales to Hyundai Oilbank, the South's smallest refiner by capacity. Click here to read full stories.

Jan 28 - Germany to move ahead quickly on implementing coal exit 

Germany's ruling coalition will move quickly to begin implementing the recommendations of a government-appointed commission for exiting coal power by 2038, Economy Minister Peter Altmaier told German broadcaster ARD on Sunday. Altmaier, a conservative, said he was in close touch with Finance Minister Olaf Scholz, a Social Democrat, about the issue, and some money had already been earmarked in the 2019 budget to get started with various measures. Click here to read full stories.

Jan 28 - Global gasoline margins plunge due to overproduction, tepid demand 

Refining profits for gasoline are crashing around the world as consumption stalls amid a huge wave of new supplies, resulting in record inventories in Asia, America and Europe. In the U.S. market, gasoline margins sank to $5.22 per barrel on Friday, the lowest seasonally since 2009, weighed down by weak demand for the fuel and excess supply. Click here to read full stories.

Jan 28 - Refiner Citgo prepares to fend off Venezuela's opposition government 

Venezuela's most important foreign asset, its $10 billion U.S. refining arm Citgo Petroleum, is hunkering down to arm itself with a legal strategy to block efforts for its board to be removed and its revenues diverted to an opposition government, sources close to the talks said. Juan Guaido, the head of the opposition-controlled congress who proclaimed himself president this week, is considering naming a new team to lead Citgo, two sources told Reuters.  Click here to read full stories.

Jan 28 - ADNOC seals $5.8 bln refining and trading deal with ENI, OMV 

Italy's Eni and Austria's OMV have agreed to pay a combined $5.8 billion to take a stake in Abu Dhabi National Oil Company's (ADNOC) refining business and establish a new trading operation owned by the three partners. The transaction, which expands ADNOC's access to European markets, furthers Eni's diversification away from Africa and gives OMV a downstream oil business outside Europe. It was hailed as a "one of a kind" deal by ADNOC's Chief Executive Sultan al-Jaber. Click here to read full stories.

Jan 28 - Venezuela opposition leader urges Britain not to give gold to Maduro 

Venezuelan opposition leader and self-declared president Juan Guaido has asked British authorities to stop President Nicolas Maduro gaining access to gold reserves held in the Bank of England, according to letters released by his party on Sunday. Maduro has been disavowed by a broad group of Western nations and Latin American neighbors that accuse him of undermining democracy, and a growing number of countries have recognized Guaido as legitimate interim leader of the troubled OPEC nation. Click here to read full stories.

Jan 28 - U.S. drillers add rigs this week, but cut most in a month since 2016 - Baker Hughes 

U.S. energy firms this week increased the number of oil rigs operating for the first time this year but the rig count in January fell the most in a month since April 2016, as the boom in the Permian, the nation's biggest shale oil formation, cools. Drillers added 10 oil rigs in the week to Jan. 25, bringing the total count to 862, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. Click here to read full stories.

Jan 25 - Russia seals position as top crude oil supplier to China, holds off Saudi Arabia

Russia came in as China's largest crude oil supplier in December, cementing the top spot for all of 2018 for a third year in a row ahead of rival Saudi Arabia, customs data showed on Friday. Imports from Russia reached 7.04 million tonnes, or 1.658 million barrels per day, in December, up 40 percent from 5.03 million tonnes a year earlier, according to the data from the General Administration of Customs. Click here to read full stories.

Jan 25 - GE urges speedy fix for power turbine blades, says blade broke in 2015 - sources 

General Electric Co is advising some buyers of its big power turbines to switch out faulty blades sooner than expected and has disclosed that a blade broke in 2015, according to a presentation reviewed by Reuters and people briefed on the matter. The second blade break, which has not been previously reported, involved an earlier turbine model and was similar to a break last September that severely damaged a turbine in Texas and shut it down for two months of repairs. Click here to read full stories.

Jan 25 - 'Under siege', oil industry mulls raising returns and PR game 

When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors. The conclusion of the discussions was worrying for those present - pressure is rising and the industry is losing a battle not to be seen as one of the world's biggest evils. Click here to read full stories.

Jan 25 - Barclays cuts 2019 Brent oil price forecasts 

Barclays on Thursday cut its 2019 Brent price forecasts, saying large U.S. production may offset any short-term disruptions to Venezuelan supply due to possible U.S. sanctions. Barclays cut its 2019 estimate to $70 per barrel from $72. It lowered its forecast for the first quarter to $65 from $71, and for the second quarter to $73 from $75. Click here to read full stories.

Jan 25 - Record-breaking heatwave triggers power cuts on Australia's stressed grid 

Blistering heat triggered power outages on Australia's strained grid on Friday as demand for air-conditioning soared and coal-fired generators struggled to meet the surge in consumption. To shore up the grid, the Australian Energy Market Operator (AEMO) cut power to Alcoa Corp's Portland aluminium smelter, the biggest consumer in the state of Victoria, for nearly two hours on Thursday evening and on Friday. Click here to read full stories.

Jan 25 - U.S. gasoline glut hits new record, crude stocks up - EIA 

U.S. gasoline inventories jumped to a record high in the most recent week even as refiners cut back activity, the Energy Information Administration said on Thursday, while crude stocks rose sharply. Gasoline stocks rose for an eighth consecutive week, by 4.1 million barrels to a record 259.6 million barrels, compared with analysts' expectations in a Reuters poll for a 2.7 million-barrel gain. Click here to read full stories.

Jan 25 - Oil traders see more price volatility on Venezuela, Iran 

Two of the world's biggest commodities trading houses, Glencore and Mercuria Energy Group, predict more oil price volatility in coming months due to concerns about supplies from OPEC members Venezuela and Iran. The United States has reimposed sanctions on Iran, driving down Iranian oil exports, and has threatened to impose sanctions on Venezuela, whose oil producing has been sliding amid political turmoil and an economic crisis. Click here to read full stories.

Jan 25 - Oil prices in 2019? It's all about the economy: Kemp 

Oil prices this year will be influenced primarily by the health of the global economy, which is why prices have closely tracked equity and bond markets in recent months. U.S. shale production growth, the policy of OPEC and its allies, U.S. sanctions on Iran, and the threat of sanctions on Venezuela may all have an impact on the price of a barrel. Click here to read full stories.

Jan 24 - U.S. oil firms tell OPEC their growth will slow  

U.S. oil producers sought on Wednesday to soothe OPEC's worries about losing market share, telling the group that investors in the U.S. firms wanted a reduction in growth and higher payouts. The Organization of the Petroleum Exporting Countries and non-OPEC allies such as Russia have cut output since 2017 to support oil prices, while watching producers in the United States, which is not party to the cuts, drive up production. Click here to read full stories.

Jan 24 - OPEC cuts, outages give physical crude a New Year lift 

Crude oil markets in Europe and West Africa have made a strong start to 2019 as Libyan supply losses and strong demand in Asia offset rising U.S. exports. Nigeria's biggest crude grade, Qua Iboe, was being offered this week at a $2 a barrel premium to benchmark dated Brent, a 10-month high. In the North Sea, Forties crude reached its highest since October on Monday.  Click here to read full stories.

Jan 24 - Newcomers pile into race for Qatar LNG 

Qatar is preparing to issue a tender for energy firms seeking a stake in its gas expansion project, drawing interest from long-standing partners as well as newcomers Chevron, Norway's Equinor and Italy's Eni, industry sources said. Plans to expand Qatar's liquefied natural gas (LNG) facilities, already the world's largest, by more than a third in the next five years are considered one of the most lucrative investments in the rapidly growing global gas market. Click here to read full stories.

Jan 24 - U.S. sanctions on Venezuela would reroute crude, leave refiners short 

Potential U.S. sanctions on Venezuela's crude oil exports would cut off the nation from Gulf Coast refiners that are among its biggest customers, likely forcing it to send more crude to China, India or other Asian countries, traders said on Wednesday. U.S. refineries that depend on Venezuela's heavy crude would have even more trouble securing supplies as Canadian and Mexican crudes are often not as discounted and are limited in availability. Click here to read full stories.

Jan 24 - China's CNOOC boosts spending target to 5-yr high, increases domestic drilling 

China's state-owned offshore oil and gas producer CNOOC Ltd said it is confident of achieving its spending target this year, the highest since 2014, as its responds to a call to build up the nation's petroleum output and reserves. The company plans to spend 70 billion to 80 billion yuan ($10.3 billion to $11.8 billion) on exploration and production, CNOOC said in a press release on Wednesday, compared with an expected 63 billion yuan in capital spending for 2018. Click here to read full stories.

Jan 24 - PG&E puts cost of judge's wildfire plan at up to $150 bln 

California power company PG&E Corp, which expects to soon file for bankruptcy, said on Wednesday it would cost between $75 billion and $150 billion to fully comply with a judge's order to inspect its power grid and remove or trim trees that could fall into power lines and trigger wildfires. PG&E said in a filing in U.S. District Court in San Francisco that it could not on its own afford the work proposed in a Jan. 9 order by U.S. District Judge William Alsup, who is overseeing conditions of the company's probation following a 2010 gas pipeline explosion. Click here to read full stories.

Jan 24 - Petrobras rejects latest EIG-backed bid for oilfields - sources 

Petroleo Brasileiro SA has rejected the most recent bid by an EIG Global Energy Partners-backed firm to purchase a pair of shallow-water oil clusters, two sources with direct knowledge of the matter said, potentially derailing a major divestment late in the process. Ouro Preto Oleo e Gas, a Brazilian energy firm backed by sector-focused private equity firm EIG entered exclusive talks in July with Petrobras, as the state-run oil firm is known, to purchase its Pampo and Enchova clusters. Click here to read full stories.

Jan 23 - Saudi Aramco eyes multi-billion-dollar U.S. gas acquisitions - CEO 

Saudi Aramco, the world's top oil producer, is looking to acquire natural gas assets in the United States and is willing to spend "billions of dollars" there as it aims to become a global gas player, the company's CEO said on Tuesday. Amin Nasser told Reuters in an interview that his company wants to increase its U.S. investments. It already owns Motiva, the biggest U.S. oil refinery. Click here to read full stories. 

Jan 23 - U.S. shale oil output to rise to record 8.179 mln bpd in Feb - EIA 

U.S. oil output from seven major shale formations is expected to rise by nearly 63,000 barrels per day (bpd) in February to a record 8.179 million bpd, the U.S. Energy Information Administration said in a monthly report on Tuesday. The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 23,000 bpd to a record of about 3.85 million bpd in February. Click here to read full stories. 

Jan 23 - Japan's 2018 crude imports fall to 39-year low as population shrinks 

Japan's 2018 oil imports fell to the lowest since at least 1979 while its liquefied natural gas (LNG) purchases and coal imports also dropped, reflecting the country's declining population and slow economic growth. The figures also underscore improved energy efficiency, and the emergence of alternative fuels for power generation and in transport, while a rise in nuclear power output last year in Japan further reduced fossil fuel imports. Click here to read full stories.

Jan 23 - Halliburton shares fall as North America lags 

Shares of oilfield firm Halliburton Co fell sharply on Tuesday after the company forecast lower revenues in key business areas in the first quarter, overshadowing a quarterly profit beat and a pledge to reduce 2019 spending. Clients in North America, Halliburton's biggest market by revenue, began pulling back on some drilling services last year amid transportation bottlenecks in the largest U.S. production region and after oil prices slid sharply in the fourth quarter. Click here to read full stories. 

Jan 22 - China's record 2018 oil, gas imports may be cresting wave as industry slows down 

Amid increasing signs of China's industrial slowdown in 2019, data this week showing record oil and natural gas imports likely indicates a country at peak energy growth, with its thirst set to wane as the slowdown bites. China's record intake for both crude oil and liquefied natural gas (LNG) in 2018 cemented its status as the world's largest oil and second-largest LNG importer. Click here to read full stories. 

Jan 22 - Oil and gas executives expect to boost spending this year-survey 

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 ranging from $500 million or less to those earning $5 billion and more. Click here to read full stories. 

Jan 22 - Iraq's southern oil exports hold near record in January 

Oil exports from southern Iraq are holding close to a record high so far in 2019, according to shipping data and an industry source, which could raise questions over whether OPEC's second-largest producer is following through on a deal to cut output. Southern Iraqi exports in the first 21 days of January averaged close to 3.6 million barrels per day, according to tanker data on Refinitiv Eikon and separate tracking by an industry source. That's close to December's 3.63 million bpd - a monthly record. Click here to read full stories. 

Jan 22 - Iran fails to find any buyers for crude offered on exchange 

Iran failed to find any buyers on Monday in its latest attempt to sell oil to private companies for export on the energy exchange, state media reported, in a setback to Tehran's efforts to bypass U.S. sanctions. Crude oil trade is state-controlled in Iran, but to try to work around U.S. sanctions, the government last year started to sell crude to private buyers through the exchange. Click here to read full stories. 

Jan 22 - Death toll from Mexico pipeline blast reaches 91, Pemex defends response 

The death toll from a fuel pipeline explosion in central Mexico last week rose to 91 on Monday as Petroleos Mexicanos (Pemex) defended its response to one of the deadliest incidents to hit the state-run oil company in years. Hundreds of people near the small town of Tlahuelilpan in Hidalgo state rushed to collect fuel from a gushing duct which authorities said was punctured by suspected thieves, and dozens were caught in the explosion that followed. Click here to read full stories. 

Jan 22 - Saudi Arabia crude exports rise to 8.235 mln bpd in Nov 

Saudi Arabia's crude oil exports in November rose to 8.235 million barrels per day (bpd) from 7.700 million bpd in October, official data showed on Monday. Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organisations Data Initiative (JODI), which publishes them on its website. Click here to read full stories. 

Jan 22 - Hedge funds buy oil amid greater optimism on economy: Kemp

Hedge funds have started to accumulate bullish positions in crude oil and diesel once more, amid rising optimism about the outlook for the global economy in 2019. Hedge funds and other money managers increased their net long position in Brent crude futures and options by 15 million barrels to 173 million barrels in the week to Jan. 15. Click here to read full stories.

Jan 21 - China's 2018 oil refinery output, Dec gas production hit records 

Chinese oil refiners raised their output to a record in 2018, led by state-run oil majors which maximised operations on firm profit-margins and private refiners which increased processing after being granted higher crude import quotas. Refiners processed 603.57 million tonnes of crude last year, or about 12.07 million barrels per day (bpd), up 6.8 percent from 2017, the National Bureau of Statistics said on Monday. Click here to read full stories.

Jan 21 - Missteps in Mexican pipeline blast trigger new scrutiny of fuel plan 

Mexico's new government knew a pipeline was leaking but did not act for hours before a blast killed at least 85 people, a minister said on Sunday, increasing scrutiny of a push to stop fuel theft seen as the president's first crackdown on crime. State oil firm Pemex did not close the gasoline pipe when first notified by the military, about four hours before Friday's blast, because it considered the leak "minimal," Security Minister Alfonso Durazo told a news conference. Click here to read full stories.

Jan 21 - European power firms aim to harness electric car batteries 

Ever wanted to run your electric car for free? If you're open to a bit of give and take, then stay plugged in and your wishes might come true. At least that's what some European power companies and Japanese carmakers believe. E.ON and EDF are already working with Nissan to develop services that allow power stored in electric vehicle batteries to be sold back to the grid - and now they're trying to persuade European carmakers to follow suit.Click here to read full stories.

Jan 21 - Australia's solar, wind boom to power past grid woes in 2019

Australia's wind and solar boom looks set to power through 2019 following a record year, despite grid constraints and extra scrutiny from network operators to make sure new projects don't spark blackouts like ones that hit two years ago. Abundant wind and sun, falling turbine and panel costs, and corporate demand for contracts to hedge against rising power tariffs have attracted dozens of international developers looking to build wind and solar farms Down Under. Click here to read full stories.

Jan 21 - China's coal output hits highest in over 3 yrs as mines start up 

China's December coal output climbed 2.1 percent from the year before, government data showed, hitting the highest level in over three years as major miners ramped up production amid robust winter demand and after the country started up new mines. Miners produced 320.38 million tonnes of coal in December, according to data released on Monday by the National Bureau of Statistics. That is the largest volume since June, 2015. Click here to read full stories.

Jan 21 - To boost confidence in oil cut, OPEC issues quota list 

OPEC on Friday published a list of oil production cuts by its members and other major producers for the six months to June, an effort to boost confidence in the move designed to avoid a supply glut in 2019. In a statement, an OPEC and non-OPEC ministerial panel also called on participating members of the Organization of the Petroleum Exporting Countries and allies to "redouble their efforts in the full and timely implementation" of the move. Click here to read full stories.

Jan 21 - U.S. drillers cut most rigs in three years - Baker Hughes 

U.S. energy firms cut 21 oil rigs this week, the biggest decline since February 2016, as drillers reacted to the 40 percent plunge in U.S. crude prices late last year. Drillers cut 21 oil rigs in the week to Jan. 18, bringing the total count down to 852, the lowest since May 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. Click here to read full stories.

Jan 21 - Canadian oil firm MEG says Husky balked at friendly takeover talks 

Canadian oil producer MEG Energy Corp's CEO invited his Husky Energy Inc counterpart this month to negotiate a friendly takeover of MEG, but Husky did not follow up, MEG's vice president of investor relations John Rogers said on Friday. Husky abandoned its hostile bid for MEG on Thursday, saying it could not win sufficient MEG shareholder support after Alberta's government ordered production cuts to reduce a crude glut. Click here to read full stories.

Jan 18 - Before start of new oil pact, OPEC made progress averting glut 

OPEC cut oil output sharply in December before a new accord to limit supply took effect, it said on Thursday, suggesting that producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand. The Organization of the Petroleum Exporting Countries said in a monthly report that its oil output fell by 751,000 barrels per day (bpd) in December to 31.58 million bpd, the biggest month-on-month drop in almost two years. Click here to read full stories. 

Jan 18 - U.S. likely to cut number of Iran oil sanctions waivers in May - analysts

The United States is likely to extend waivers from sanctions on Iranian oil imports in May but will reduce the number of countries receiving them to placate top buyers China and India and to decrease the chance of higher oil prices, analysts said. Washington surprised oil markets after granting waivers to eight Iranian oil buyers when the sanctions on oil imports started in November. Click here to read full stories. 

Jan 18 - Bad bets on oil, gas spark wave of energy-fund closures 

Energy fund managers took heavy losses last year with wrong-way bets on the prices of oil and natural gas, leading to a wave of closures in the volatile fund sector. The number of active energy-focused funds fell to just 738 in 2018 through September from about 836 in 2016, according to the latest available data from hedge funds industry tracker Eurekahedge. That's the lowest number of active funds since 2010. Click here to read full stories. 

Jan 18 - Hitachi debacle strengthens Franco-Chinese hand in UK nuclear 

Hitachi's decision to freeze its $28 billion nuclear power project in Britain strengthens the hand of France's EDF and its Chinese partner in talks with the government on how to finance new reactors. Funding new nuclear plants has become critical as Hitachi became the second Japanese firm to say its British nuclear power project had hit the buffers over financing. The two projects would have covered about 13 percent of Britain's power needs. Click here to read full stories. 

Jan 18 - U.S. Gulf Coast hunt for heavy crudes send prices higher -traders 

Heavy, sour U.S. Gulf Coast crudes firmed to the strongest levels in three months this week on tight supplies of heavy oils, traders said on Thursday. Heavy Louisiana Sweet (HLS), a heavy coastal grade delivered into Empire, Louisiana, traded around an $8-per-barrel premium to U.S. West Texas Intermediate crude futures (WTI) on Wednesday, the strongest since mid-October and up $1 over last week. Click here to read full stories. 

Jan 18 - Asian LNG prices slip, but plant outages limit losses 

Asian spot prices for liquefied natural gas (LNG) continued to fall this week as importers in North Asia have largely finished their purchases for winter, but losses were stemmed as plants closed for maintenance.  Spot prices for March delivery to Asia this week slipped to $8.20 per million British thermal units (mmBtu), down 10 cents from the previous week, trade sources said. Click here to read full stories. 

Jan 18 - OPEC cuts offset headwinds from slowing economy: Kemp 

Oil traders seem increasingly convinced OPEC's prompt action in cutting production will be enough to offset the impact of rising shale production and slowing global growth. Brent futures prices have stabilised around $60 per barrel in recent sessions, well below the peak of over $85 at the start of October, but significantly higher than the trough of less than $50 in late December. Click here to read full stories.

Jan 17 - Bid to keep U.S. sanctions on Russia's Rusal fails in Senate

In a victory for President Donald Trump, the U.S. Senate on Wednesday rejected legislation to keep sanctions on companies linked to Russian oligarch Oleg Deripaska, including aluminum firm Rusal. Senators voted 57-42 to end debate on the measure, as 11 of Trump's fellow Republicans broke from party leaders to join Democrats in favor of the resolution, amid questions about Trump's relationship with Russian President Vladimir Putin. Click here to read full stories. 

Jan 17 - In Papua New Guinea, Exxon's giant LNG project fuels frustration 

From her red-roofed home near Papua New Guinea's capital of Port Moresby, Isabelle Dikana Iveiri overlooks a giant plant used by Exxon Mobil Corp to liquefy billions of dollars' worth of natural gas before it is shipped to Asian buyers. Dikana Iveiri can also see swaths of muddy shoreline, where mangroves have been felled for firewood by locals who don't have electricity, gas, or money to buy either. Click here to read full stories. 

Jan 17 - U.S. crude stockpiles fall more than expected in week - EIA  

U.S. crude oil stocks fell more than expected last week, while gasoline and distillate inventories rose more than forecast, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels in the week to Jan. 11, compared with analysts' expectations for a decrease of 1.3 million barrels. Click here to read full stories. 

Jan 17 - Worries for LNG as prices slip amid record North Asia imports: Russell 

The spot price of liquefied natural gas (LNG) in Asia has completely missed its usual winter peak, with much of the blame being laid at the door of milder-than-usual temperatures trimming demand. That sounds perfectly plausible, but doesn't quite tally with the fact that delivered volumes into the major consuming region of Northeast Asia hit a record-high in December. Click here to read full stories. 

Jan 17 - Canada's oil cuts offer lifeline to producers but create new problems

The Canadian province of Alberta's OPEC-style decision to force production cuts is benefiting oil companies with higher prices, but it is also pushing capital elsewhere and threatens to undermine booming crude-by-rail shipments. After Alberta cut 325,000 barrels per day (bpd) starting this month, the discount on Canadian heavy oil compared to benchmark U.S. crude oil shrank to less than $7 per barrel from more than $40 in October, providing relief for producers. Click here to read full stories. 

Jan 17 - Value of global CO2 markets hit record 144 bln euros in 2018 - report 

The value of traded global markets for carbon dioxide (CO2) allowances soared 250 percent last year to a record high of 144 billion euros ($164 billion), analysts at Refinitiv said on Wednesday. The overall figure was pushed higher by the soaring cost of carbon permits in Europe's Emissions Trading System, (ETS) which more than trebled last year from 8 euros a tonne to around 25 euros. Click here to read full stories.

Jan 16 - Asia's gasoline market headed for glut as refineries to unleash wave of fuel 

New gasoline supply is expected to exceed the growth in demand this year in Asia as new refineries starting up in Malaysia, China and Brunei will unleash a flood of the motor fuel and naphtha. The three new processing plants in Malaysia and China alone will likely add about 235,000 barrels per day (bpd) of gasoline to the market when fully operational, based on company estimates and two industry sources. Click here to read full stories.

Jan 16 - East Libyan forces heading south to secure oil sites

Eastern forces loyal to commander Khalifa Haftar have launched a military operation in southern Libya to secure oil and gas facilities and fight extremists, a spokesman said on Tuesday, a move that may alarm the authorities in Tripoli in the west. Haftar, whose powerbase is the eastern city of Benghazi, leads the Libyan National Army (LNA), which controls the east of the North African nation and major oil ports in the region. Click here to read full stories.

Jan 16 - U.S. oil output to rise to 12.9 million bpd in 2020 - EIA

Crude oil output from the United States is expected to rise to a new record of more than 12 million barrels per day (bpd) this year and to climb to nearly 13 million bpd next year, the U.S. Energy Information Administration said on Tuesday in its first 2020 forecast. U.S. crude production is forecast to climb 1.14 million bpd to 12.07 million bpd in 2019 and an additional 790,000 bpd in 2020 to 12.86 million bpd, the statistics arm of the U.S. Energy Department said in a monthly report. Click here to read full stories.

Jan 16 - OPEC+ firms up plan to meet on April 17-18 in Vienna - source

The Organization of the Petroleum Exporting Countries and its allies will meet on April 17-18 in Vienna to review their oil supply cut deal, a source familiar with the matter said on Tuesday, confirming a proposed date.  At their last meeting in Vienna, OPEC and its allies led by Russia said they would reconvene in April without specifying an exact date, to decide whether to extend an agreement to cut oil output that started on Jan. 1. Click here to read full stories.

Jan 16 - Oil prices expected to stay anchored around $65-70 through 2023: Kemp 

Oil prices are expected to oscillate close to current levels well into the next decade, averaging around $65-70 per barrel through 2023, according to an annual survey of energy professionals conducted by Reuters. Despite the recent slump in oil prices, forecasts have edged down by less than $5 per barrel compared with the last annual survey conducted at the start of 2018 and have changed little over the last three years. Click here to read full stories.

Jan 16 - BNP Paribas to close U.S. commodities trading desk - source 

France's largest listed bank BNP Paribas is to close its New York commodities trading desk, offering its services from desks elsewhere, a source close to the matter said Tuesday, confirming an earlier Bloomberg report. The bank has decided to close the desk in New York but will remain active on the market in London and Singapore, the source said. Click here to read full stories.

Jan 15 - First U.S. crude cargoes head to China since trade breakthrough - sources

Three cargoes of U.S. crude are heading to China from the U.S. Gulf Coast, trade sources said on Monday, the first departures since late September and a 90-day pause in the two countries' trade war that began last month. The vessels left Galveston, Texas, last month and are scheduled to arrive at Chinese ports between late January and early March, according to shipbrokers and vessel tracking data. The shipments mark a change since Chinese buyers largely began avoiding U.S. oil during the trade dispute that flared last summer. Click here to read full stories.

Jan 15 - CME plans to launch e-auction for U.S. crude oil exports

CME Group said on Tuesday it plans to launch an electronic auction platform with U.S. energy firm Enterprise Products Partners LP in March to sell U.S. spot crude oil export cargoes. The United States became the world's largest oil producer last year as shale production hit new highs, encouraging exchanges and pricing agencies to launch new mechanisms to allow companies to price and hedge U.S. oil exports. Click here to read full stories.

Jan 15 - EU ready to accept deal to exempt duties on Argentine biodiesel

The European Commission is willing to accept a deal with producers of Argentine biodiesel to settle a long-running trade dispute over imports of the product into Europe. The Commission, which oversees trade policy in the 28-member European Union, said it had communicated to interested parties last week that it was willing to accept undertakings from producers that they would sell at a minimum price. Click here to read full stories.

Jan 15 - Fund managers neutral on crude and fuel outlook: Kemp

Hedge fund managers show signs of having completed their recent sale of crude and refined fuels, with positions edging up slightly in the first week of the new year, amid hopes a recession can be averted. Oil prices have bounced off their recent lows, the U.S. dollar has weakened against most other major currencies and expectations of a trade deal between the United States and China are rising. Click here to read full stories.

Jan 15 - 'Zero coordination': Mexico's war on fuel theft risks economic chaos

Conceived as a bold plan to attack corruption, a crackdown by Mexico's new president on rampant fuel theft has turned into a battle to prevent economic chaos after state governments, businesses and consumers were caught out by the decision. Eager to purge a prominent stain on Mexico's reputation, President Andres Manuel Lopez Obrador on Dec. 27 unveiled a plan to increase military protection of oil installations and began cutting supply from pipelines that have been bled for years by thieves. Click here to read full stories.

Jan 14 - China Dec crude imports at 2nd highest, gas imports at record

China's crude oil imports in December surged nearly 30 percent from a year earlier to the second highest for a month on a daily basis, Reuters calculations of customs data showed on Monday. The surge was bolstered by year-end stockbuilding by small independent refiners trying to use up annual quotas and crude cargoes imported for tests on two new private refineries. Click here to read full stories. 

Jan 14 - U.S. not looking to grant further Iran oil sales waivers - U.S. official 

The United States is not looking to grant more waivers for Iranian oil imports after the reimposition of U.S. sanctions, the U.S. special representative for Iran said on Saturday, underlining Washington's push to choke off Tehran's income. "We are not looking to grant any waivers or exemptions to the import of Iranian crude," Brian Hook told a industry conference in the United Arab Emirates capital Abu Dhabi. Click here to read full stories. 

Jan 14 - Saudi energy minister says oil market on "right track" 

Saudi Arabia's Energy Minister Khalid al-Falih said on Sunday the oil market is "on the right track" and will quickly return to balance, but oil producers are willing to do more if needed. "If we look beyond the noise of weekly data and speculators' herd-like behaviour, I remain convinced that we're on the right track, and that the oil market will quickly return to balance," said Falih, addressing an oil conference in Abu Dhabi. Click here to read full stories. 

Jan 11 - Iran's crude exports stay subdued in Jan despite waivers - sources

Iran will see its crude exports severely curtailed for a third month in January as it is struggling to find new buyers amid fresh U.S. sanctions even though its traditional customers secured waivers, according to tanker data and industry sources. Iran's crude exports in November plummeted to below 1 million barrels per day, from regular sales of 2.5 million bpd before sanctions were imposed in May, and taking them back to where they stood during the previous round of sanctions in 2012-2016. Click here to read full stories.

Jan 11 - Glencore loses exclusive rights to major Libyan oil grades

Trading and mining giant Glencore has lost its exclusive marketing rights for two of Libya's main crude oil export grades after holding them since late 2015, trading sources with direct knowledge said. The Switzerland-based firm had secured the rights to the Sarir and Messla grades when it was one of the few foreign companies willing to deal with the North African country during unrest that has wracked the country since 2011. Click here to read full stories.

Jan 11 - Mexico spends $1.2 bln on 2019 oil hedge, locks in $55 per barrel

Mexico completed its 2019 oil hedge, the world's largest sovereign derivatives trade, guaranteeing an average price of $55 per barrel for Mexican crude for the year after buying $1.23 billion in put options, the finance ministry said on Thursday. Mexico hedges its crude every year and deals are closely watched by the market since the trades are big enough to affect prices.  Click here to read full stories.

Jan 10 - U.S. oil export boom sparks a battle to build Texas ports

Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years. Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to open the state's first deepwater port.  Click here to read full stories.

Jan 10 - Mexican ports see bottlenecks as fuel distribution slows -traders

Bottlenecks for offloading imported fuel are forming at some Mexican oil ports following government orders to shut pipelines to limit losses from widespread fuel theft, according to traders and Refinitiv Eikon data. With storage limited in Mexico, the move by President Andres Manuel Lopez Obrador to shut pipelines and move fuel mostly by rail and truck has slowed transport, causing long lines for consumers and slowed deliveries at ports, where more than 7 million barrels of fuel - enough for several days of use in Mexico - languish. Click here to read full stories.

Jan 10 - Saudi Arabia announces rise in oil reserves after external audit

Top oil exporter Saudi Arabia announced a slight rise in its crude oil reserves on Wednesday after they were independently audited, providing more detail about the size of deposits shrouded in secrecy for decades. Saudi Arabia's reserves of easily recoverable oil have long been the world's largest but few details were public. Click here to read full stories.

Jan 10 - Asian refiners lose in crude tug-of-war between OPEC+ and Trump: Russell

The emerging dynamic for crude oil markets this year is the struggle between OPEC and its allies for higher prices against the vocal push for low prices from U.S. President Donald Trump. Much has already been written on which side is likely to prevail, but in the meantime the losers are refiners in Asia, who face crude prices likely to be higher relative to those in Europe and the Americas. Click here to read full stories.

Jan 10 - U.S. crude stocks fall less than expected, products build sharply - EIA

U.S. crude oil stockpiles fell less than expected last week according to a largely bearish report on Wednesday from the Energy Information Administration, which also showed that gasoline and distillate inventories rose more than expected. Crude inventories fell by 1.7 million barrels in the week to Jan. 4, compared with analysts' expectations in a Reuters poll for a decrease of 2.8 million barrels. Click here to read full stories.

Jan 10 - Morgan Stanley cuts 2019 oil price view on high supplies, slowing China imports

Morgan Stanley has cut its 2019 oil price forecasts by more than 10 percent, with plentiful supply in the early part of the year and slowing imports into China weighing on prices, the bank said in a note. It now expects benchmark Brent crude prices to average $61 a barrel this year, down from a previous estimate of $69 a barrel, and U.S. West Texas Intermediate (WTI) to average around $54 per barrel, against a prior forecast of $60. Click here to read full stories.

Jan 10 - Trump nominates acting EPA head, an ex-coal lobbyist, to run agency

U.S. President Donald Trump on Wednesday nominated acting EPA chief Andrew Wheeler to run the agency permanently, the White House said, placing a former energy lobbyist at the helm of the nation's top environmental regulator. The widely anticipated nomination provides Trump another avid supporter of his deregulatory and pro-fossil fuels agenda, but without the constant criticism over alleged mismanagement that plagued Wheeler's predecessor, Scott Pruitt. Click here to read full stories.

Jan 09 - Top suspect in Vitol, Glencore Brazil bribery case arrested in U.S. - court

A Brazilian man facing allegations of bribing officials at state-run oil company Petroleo Brasileiro SA on behalf of Vitol Group, Glencore and other major oil trading firms has been arrested in the United States, authorities said Tuesday. Luiz Eduardo Loureiro Andrade was detained in the U.S. on Dec. 20, an arrest that was disclosed in a Brazilian court document seen by Reuters. Click here to read full stories.

Jan 09 - BP unlocks a billion oil barrels in Gulf of Mexico with new technology

BP said it has discovered two new oilfields in the Gulf of Mexico and has identified an additional billion barrels of oil at an existing field thanks to new seismic technology. The British company, which has only recently turned a corner following the deadly 2010 Deepwater Horizon spill, also on Tuesday announced plans to expand production at its Atlantis oilfield in the Gulf of Mexico, consolidating its status as the largest oil producer in that region. Click here to read full stories.

Jan 09 - Indian refiners pay for Iranian oil in rupees - UCO Bank executive

India has begun paying Iran for oil in rupees, a senior bank official said on Tuesday, the first such payments since the United States imposed new sanctions against Tehran in November. Washington gave a six-month waiver to eight countries, including India, allowing them to import some Iranian oil. Click here to read full stories.

Jan 09 - EPA says it is committed to rule for higher ethanol blend by summer driving season

The U.S. Environmental Protection Agency said on Tuesday it would complete a rule to boost sales of higher-ethanol blends of gasoline by the summer driving season, despite a partial government shutdown. The statement from the environmental regulator came after the agency warned at least two lawmakers that the shutdown had delayed its timeline for initially rolling out the rule, according to two sources briefed on the matter. Click here to read full stories.

Jan 09 - Brazil's Petrobras may get $14 bln to settle dispute over some oil exploration areas

Petroleo Brasileiro SA (Petrobras) may receive about $14 billion from the Brazilian government to settle a dispute relating to certain oil exploration areas, the state-run oil firm said in a securities filing on Tuesday. The dispute centers around payments relating to operations in the so-called transfer-of-rights area off the coast of Brazil. Click here to read full stories.

Jan 08 - India's BPCL to buy Iranian oil in Feb after 3-month gap - sources

State-run Bharat Petroleum Corp will import 1 million barrels of Iranian oil in February after a gap of three months, with the nation's overall purchases from Tehran remaining at 9 million barrels, three industry sources said. The United States in early November granted India a six-month waiver from sanctions on Iran's oil exports. Click here to read full stories.

Jan 08 - Commodity markets back Beijing's stimulus, await trade talks: Russell

Commodity markets appear to have delivered their verdict on China's plans to stimulate its economy, betting that Beijing's boost to infrastructure spending will work. China's central bank cut the amount of cash that banks have to hold as reserves for a fifth time in a year on Jan. 4, a move that will free up as much as $116 billion in new credit. Click here to read full stories.

Jan 08 - U.S. top court rejects Exxon in climate change document dispute

The U.S. Supreme Court on Monday cleared the way for the attorney general of Massachusetts to obtain records from Exxon Mobil Corp to probe whether the oil company for decades concealed its knowledge of the role fossil fuels play in climate change. The justices declined to hear Exxon's appeal of a ruling by the top court in Massachusetts holding that state Attorney General Maura Healey, a Democrat, had jurisdiction to seek records to probe whether the company misled consumers and investors. Click here to read full stories.

Jan 08 - Venezuela's PDVSA in oil deal with firm part-owned by Florida Republican

Venezuelan state oil firm PDVSA has signed a deal with little-known U.S. energy firm Erepla, partly owned by a prominent Florida Republican, to help increase the socialist-run country's plummeting crude oil output, the company said. Erepla Services LLC, with an undisclosed stake held by Republican Harry Sargeant III and which Delaware state records show was only registered in November, said it plans to invest up to $500 million to increase production at three Venezuelan oil fields in exchange for a portion of the crude produced. Click here to read full stories.

Jan 08 - Hedge funds dump crude and diesel as economic outlook darkens: Kemp

Hedge funds are cautious on the outlook for oil prices, despite a slump at the end of last year, as fears about the global economy outweigh output cuts by OPEC and its allies. Fund managers cut bullish positions in Brent crude futures and options by 10 million barrels in the week to Dec. 31, exchange data published on Friday showed. Click here to read full stories.

Jan 08 - U.S. crude starting to seep back to China, but needs lower price: Russell 

U.S. crude oil is starting to trickle back to China with three cargoes slated to arrive next month, but volumes are still a long way off levels prior to the outbreak of trade hostilities between the world's two largest economies. Vessel-tracking data compiled by Refinitiv shows three tankers carrying 3.94 million barrels are en route from the United States to China and will arrive in February. Click here to read full stories.

Jan 08 - Brazilian government denies to pay $14 billion to Petrobras

Brazil's Economy Ministry denied that the government would pay $14 billion to state-controlled oil company Petroleo Brasileiro SA to settle a dispute over an oil-producing zone off the Brazilian coast known as the transfer-of-rights area. The ministry told Reuters in a statement the figure, reported on Monday by the Valor Economico newspaper, was only one of several proposals passed to the transition team of President Jair Bolsonaro by his predecessor Michel Temer. Click here to read full stories.

Jan 07 - Iran says despite U.S. sanctions, it has found new "potential" oil buyers

All countries that were granted waivers from the United States to continue buying a certain amount of Iranian oil imports are complying with U.S. sanctions, a senior Iranian energy official said, noting that Tehran was hopeful to find new buyers. The United States withdrew from a nuclear deal with Iran last year and snapped sanctions in place to choke Iran’s oil and banking industries, while temporarily allowing eight customers to keep buying crude from the Islamic Republic. Click here to read full stories.

Jan 07 - U.S. crude stockpiles flat, products build sharply - EIA

U.S. gasoline and distillate inventories rose sharply last week as refineries ramped up activity, while crude oil stocks were barely changed, the Energy Information Administration said on Friday. Crude inventories rose by 7,000 barrels in the week to Dec. 28, compared with analyst expectations for a decrease of 3.1 million barrels, the EIA said in its report delayed by two days due to the New Year's Day holiday. Click here to read full stories.

Jan 07 - U.S. oil drillers cut rigs for first week in three - Baker Hughes

U.S. energy firms cut oil rigs for the first time in three weeks as producers started to reduce their 2019 drilling plans with the collapse in crude prices at the end of last year. Drillers cut eight oil rigs in the week to Jan. 4, bringing the total count down to 877, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. Click here to read full stories. 

Jan 07 - Dollar cycle may be about to turn, supporting oil prices: Kemp

The U.S. dollar has recently appreciated to its highest level in real terms since the start of 2017 and before that September 2003. Dollar appreciation weighed on oil prices in 2018 as prices in some non-dollar currencies hit record levels earlier in the year and dampened consumption growth. Click here to read full stories.

Jan 04 - OPEC oil output posts biggest drop since 2017 on Saudi move

OPEC oil supply fell in December by the largest amount in almost two years, a Reuters survey found, as top exporter Saudi Arabia made an early start to a supply-limiting accord while Iran and Libya posted involuntary declines. The 15-member Organization of the Petroleum Exporting Countries pumped 32.68 million barrels per day last month, the survey on Thursday found, down 460,000 bpd from November and the largest month-on-month drop since January 2017. Click here to read full stories.

Jan 04 - Singapore light distillate fuel stocks hit record high

Light distillate fuel stocks at Asia's refining hub in Singapore have climbed to a record on surging supply just as fears emerge of an economic downturn heading into 2019, but holiday demand and refinery maintenance could lend some relief. Light distillate stocks in Singapore, which include the key transportation fuel gasoline and important petrochemical feedstock naphtha, rose by 1.47 million barrels in the week to Jan. 2, to a record 16.1 million barrels, according to data from Enterprise Singapore released on Friday. Click here to read full stories.

Jan 04 - Kim's vision of a coal-fuelled North Korean future may be tough to realise

When North Korean leader Kim Jong Un used his New Year speech to highlight coal as a "primary front" in developing the economy, he was making a case for what analysts see as a flawed but key resource on which his country increasingly relies. Coal has long been a major resource for North Korea, and Kim's call for self sufficiency in the face of international pressure is a recurring theme. Click here to read full stories.

Jan 04 - OPEC sends fewest oil cargoes to United States in at least five years

OPEC crude cargoes leaving for the United States in December dropped to the lowest level in at least five years, data from Refinitiv Eikon and market intelligence firm Kpler show. Oil cargoes departing from OPEC nations to the United States fell to 1.63 million barrels per day (bpd) last month, down from 1.80 million bpd in November and 1.78 million bpd in October, the data show. Click here to read full stories.

Jan 04 - Petrobras to focus on core business, spat with govt to be resolved soon - officials

Brazilian officials on Thursday predicted a quick resolution to a dispute with Petroleo Brasileiro SA over offshore oil blocks and doubled down on pledges to steer the state-run firm toward its core businesses like oil exploration. At the swearing-in ceremony for new Chief Executive Roberto Castello Branco, incoming Mines and Energy Minister Bento Albuquerque said Petrobras, as the company is known, and the state, expect to resolve a dispute over the oil-producing zone known as the 'transfer-of-rights' area within 100 days. Click here to read full stories.

Jan 04 - At Brazil's Petrobras, a 'Chicago Boy' takes the reins

Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil's Petroleo Brasileiro SA, will either save the indebted oil major - or strip it to the bone. Tapped by far-right President Jair Bolsonaro, who took power on Tuesday, Castello Branco had said in a June newspaper column he thought Petrobras - as the company is known - should be privatized, a hardcore proposal even in an administration packed with free market advocates. Click here to read full stories.

Jan 04 - U.S. energy executives' outlook sours for first time since 2016 - Fed survey

U.S. oil and gas executives' outlook turned negative for the first time since the low point of the last oil bust, according to results of a survey released on Thursday by the Federal Reserve Bank of Dallas. A survey of executive sentiment fell to -10 from 47 in the prior quarter, the first negative reading since early 2016, when U.S. crude prices plummeted to $26 per barrel. Click here to read full stories.

Jan 03 - Saudi Arabia may cut Feb heavy crude prices to Asia

Top oil exporter Saudi Arabia is  expected to cut February prices for heavier crude grades sold to Asia due to weaker fuel oil margins, respondents to a Reuters survey said on Thursday. Weak refining margins and an expected drop in Asia's crude demand during second-quarter refinery maintenance were also factors that may prompt Saudi Arabia to cut prices in February, the respondents said. Click here to read full stories.

Jan 03 - Russian oil output reaches record high in 2018

Russian oil production rose to a post-Soviet record high of 11.16 million barrels per day (bpd) last year on an annual average basis, data from its energy ministry showed on Wednesday. The total surpassed the previous annual record average of 10.98 million bpd set in 2017. Click here to read full stories.

Jan 03 - Fear sends equity and commodity prices tumbling in 2018: Kemp

Fear became the dominant sentiment in 2018, especially in the second half of the year, as growing pessimism about the future gripped policymakers, business leaders, investors and journalists. Those best able to articulate, amplify and exploit concerns about the economy, migration, security and the impact of technology proved the most influential. Click here to read full stories.

Jan 03 - U.S. crude stockpiles likely fell for fifth straight week - Poll

U.S. crude oil inventories were forecast to have fallen for a fifth straight week, while analysts expected a build in refined products last week, a preliminary Reuters poll showed on Wednesday. Five analysts polled by Reuters estimated, on average, that crude stocks fell 2.3 million barrels in the week to Dec. 28. Click here to read full stories.

Jan 03 - Hindustan Petroleum confirms Indian oil firms stop taking margin hit on fuel sales

Indian state-owned fuel retailers have stopped absorbing a government-mandated cut of 1 rupee (0.014 U.S. cents) a liter in their marketing margins on the sale of petrol and diesel due to a steep fall in global oil prices, said M K Surana, chairman of one of the three companies, Hindustan Petroleum Corp Ltd. In October, India's finance ministry had cut its production tax on the two fuels by 1.50 rupees a litre and had asked state-owned fuel retailers to reduce their marketing margins by 1 rupee a litre to insulate consumers from a surge in global oil prices at the time.  Click here to read full stories.

Jan 02 - China cuts crude oil import quotas with first batch of 2019 allowances

China issued its first batch of crude oil import quotas for 2019 on Wednesday at a lower volume than for the same batch a year ago though expectations are for the volumes to climb later this year. The Ministry of Commerce granted quotas totalling 89.84 million tonnes to 58 companies in its first allowances for 2019, according to four sources with direct knowledge of the matter and documents reviewed by Reuters on Wednesday. Click here to read full stories.

Jan 02 - U.S. October crude oil production sets record high - EIA

U.S. crude oil output hit an all-time high of more than 11.5 million barrels per day in October, according to government data released on Monday. Crude production rose 79,000 bpd in October to 11.537 million bpd, the U.S. Energy Information Administration said in a monthly report. The EIA revised its September oil production figure down by 17,000 bpd to 11.458 million bpd. Click here to read full stories.

Jan 02 - Oversupply, faltering growth to weigh on oil prices in 2019 - Poll

Crude oil prices look likely to trade below $70 per barrel in 2019 as surplus production, much of it from the United States, and slowing economic growth undermine OPEC-led efforts to shore up the market, a Reuters poll showed on Monday. A survey of 32 economists and analysts forecasts the North Sea Brent crude oil benchmark will average $69.13 per barrel in 2019, more than $5 lower than last month's projection. Click here to read full stories.

Jan 02 - Indian Oil says Iran may still invest in Chennai Petroleum expansion

India's biggest refiner Indian Oil Corp Ltd said on Wednesday that Iran may still invest in a refinery expansion project at one of its subsidiaries. Indian Oil's chairman Sanjiv Singh said that Iran has not ruled out participating in the expansion at Chennai Petroleum Corp Ltd, a south India-based 20,000 barrels per day (bpd) refinery. Click here to read full stories.

Jan 02 - India exempts rupee payments for Iran oil from hefty taxes - gov't order

India's finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters. The exemption, put in place December 28 but backdated to November 5, will allow Indian refiners to settle about $1.5 billion of outstanding payments to NIOC. Click here to read full stories.