Oil Prices Steady As EIA Reports Small Crude Draw

Oil prices held steady on Wednesday morning after the Energy Information Administration today reported a draw of 2.7 million barrels in crude oil inventories. Analysts had expected a draw, after yesterday the API also reported lower inventories and much lower than forecast, at that. The Institute’s estimate was for a 3.45-million-barrel decline versus expectations for …

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Six Brilliant Clean Energy Ideas That Never Made It

The field of research for cleaner alternatives to fossil fuels is without a doubt one of the hottest in science today. There is, of course, a good reason for that: several countries have declared climate emergencies and while declarations by themselves cannot solve a problem, research may—and does—lead to solutions. Yet not all ideas pan …

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Chinese Investments In Nigerian Oil Hit $16B

Chinese investments in the oil and gas industry of Nigeria have reached US$16 billion, according to a senior NNPC official, but the industry needs even more to advance its production growth agenda. Vanguard quotes NNPC’s Group Managing Director Malla Mele Kyari as saying “To have investment of $16bn in Nigeria is clearly an indication of …

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Solar Stocks Jittery Ahead Of Subsidy Phase-Out

The end of this year will see the beginning of a phase-out for the Investment Tax Credit that was introduced more than a decade ago and spurred a true boom in solar installations. This is making solar companies jittery as they hold onto hope waiting for the Renewable Energy Extension Act that would keep the …

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Koch Exits Canadian Oil Sands

Koch Industries has sold its oil sands assets to Canadian Cavalier Energy, the Financial Post reports, noting that the deal closed two months ago. Cavalier is a subsidiary of family owned Paramount Resources. The Globe and Mail cited information from the Alberta Energy Regulator, which said the assets involved in the sale consisted of five …

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Shale Pioneer Hamm Calls For Production Slowdown

U.S. shale producers need to slow down with production growth and focus more on capital discipline in an oversupplied market, Continental Resources’ Harold Hamm told the audience at the EnerCom conference, as quoted by Reuters. Hamm was one of the few voices of caution two years ago as well, when OPEC started cutting production for …

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Washington’s Emissions Plan Could Cost U.S. Economy $400 Billion

A controversial proposal by the Trump administration to freeze greenhouse gas emissions standards at 2020 levels for all cars made between 2021 and 2026 could end up costing the economy US$400 billion through 2050 plus an increase in actual emissions, an energy policy firm has warned. Using an open-source predictive modeling software, the Energy Policy …

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Perry, Al-Falih Accuse Iran Of Oil Market “Destabilization”

U.S. Energy Secretary Rick Perry and his Saudi counterpart Khalid al-Falih accused Iran of trying to destabilize global oil markets during a recent meeting. “Secretary Perry and Minister Al-Falih reaffirmed that as two of the world’s top suppliers of oil, the United States and Saudi Arabia will continue to work together to ensure that world …

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Is Big Oil’s Natural Gas Bet Turning Sour?

Big Oil has staked quite a claim in the natural gas industry in recent years, with supermajors building their presence in that segment in anticipation of the global energy shift from more to less polluting energy sources. Now, however, this claim is backfiring. Bloomberg’s Rachel Adams-Heard wrote last week that the supermajors have suffered a …

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