US Natgas Futures Surge 68% This Week on Frigid Weather Forecasts

(Reuters) – U.S. natural gas futures rose on Friday and has gained over 68% so far this week, lifted by forecasts for extreme cold over the next two weeks that…

North Dakota Oil Production up 12,000 bpd in November vs October to 1,189,000 bpd – State Regulator

(Reuters) – Oil production in North Dakota rose 12,000 barrels-per-day (bpd) to 1,189,000 bpd in November, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production…

How the U.S. Controls Iraq’s Oil Revenues

(Reuters) – The United States, since its 2003 invasion of Iraq, has held effective control over the country’s oil revenue dollars, giving Washington extraordinary leverage over Baghdad’s affairs, with implications…

North Dakota Crude Output Down on Cold Weather Snap, State Regulator Says

(Reuters) – HOUSTON, Jan 23 – North Dakota crude output is currently down by 80,000 barrels per day to 110,000 bpd as operators shut production in due to cold weather,…

Indian Refiner BPCL to Sign $780 Million Oil Supply Deal With Petrobras

India’s state-owned refiner Bharat Petroleum Corporation Limited (BPCL) is set to sign next week an oil supply deal with Brazilian state giant Petrobras for the delivery of 12 million barrels…

Europe’s Gas Storage Is Draining at the Fastest Pace in Five Years

Below-average winter temperatures are driving the fastest pace of withdrawals from natural gas storage in Europe in five years, as heating demand is rising. EU gas storage sites were only…

India Turns to Atlantic and Middle Eastern Crude as Russian Supplies Falter

Indian Oil Corp. has bought several crude oil cargos from Angola, Brazil, and the UAE to replace Russian barrels under sanctions, Reuters reported today, citing unnamed sources. The purchases include…

Shell Signals $20 Billion Bet on Nigeria’s Deepwater Revival

Shell plans to invest $20 billion in the Bonga South West deepwater project offshore Nigeria, the special adviser to Nigeria’s president said after the government approved investment-linked incentives for the…

China Moves to Price LNG in Yuan

China plans to launch LNG futures in yuan as it aims to hedge against volatile prices and have more power over global LNG pricing. The futures could be launched on…

A Record LNG Year Looms for Europe as Markets Rebalance

Europe is expected to import a record-high volume of liquefied natural gas this year as stronger demand for replenishing storage sites, the phase-out of Russian supply, and continued pipeline exports…