Fighting in Tripoli may have been escalating, but in the east of Libya, the key oil port of Es Sider is once again getting a flow of crude from oilfields after exports there resumed last week following a one-year hiatus, an official told The Wall Street Journal.
Mexican oil production could increase by as much as 75 percent over the next 25 years as a result of its move to open up the country’s energy industry to private investment, according to a prediction from the Energy Information Administration, The Hill reports.
CAIRO (AP) — Libya's largest export terminal begun loading a tanker Wednesday destined for Italy, its first shipment after a yearlong blockade over disputes between the central government, rebels and protesters, the country's oil corporation said.
The National Oil Corp. said on its website the tanker has been loading 600,000 barrels since early Wednesday. The central government had resolved a dispute last month with militias in the country's east that had caused exports from two of the country's oil ports to stop for almost a year.
As the U.S. launched air strikes on Islamic State militants in northern Iraq, two companies with Kurdish production – Afren and Oryx Petroleum – said they were cutting back in oilfields near fighting, while Genel said it was reducing personnel in the region, Reuters reports.
Weaker-than-expected demand in the U.S. has caused OPEC to trim its yearly forecast for a second straight month -- to 1.1 million barrels of oil a day -- although its production levels increased in July despite fighting in Iraq and Libya, Reuters reports.
Despite increasing violence in parts of Libya including the capital, a tanker has arrived in Brega and should leave next week bound for Genoa loaded with 750,000 barrels of crude, the port said on its Facebook page, according to The Wall Street Journal.
The price of oil slipped below $102 a barrel on Friday, falling for a second day after spiking on lower U.S. inventories and tensions in the Ukraine and the Middle East.
Benchmark U.S. crude for September delivery was down 10 cents to $101.97 at 0555 GMT in electronic trading on the New York Mercantile Exchange. The contract dropped $1.05 to close at $102.07 a barrel on Thursday.
Brent crude, a benchmark for international oils, rose 13 cents to $107.20 in trading on the ICE exchange in London.
The price of oil fell Thursday, giving back part of its sizeable jump the day before, despite improvement in Chinese manufacturing.
Benchmark U.S. crude for September delivery was down 16 cents at $102.96 a barrel at 0650 GMT in electronic trading on the New York Mercantile Exchange. The contract gained delivery gained 73 cents to $103.12 on Wednesday after data released by the Energy Department Wednesday showed a drop in U.S. crude inventories that was more than double what analysts had expected.
Brent crude for September delivery, a benchmark for international oils, was down 14 cents to $107.89 on the ICE Futures exchange in London.
The price of oil rose Wednesday after the government reported that U.S. oil supplies rose more than expected.
The benchmark U.S. oil contract for September delivery gained 73 cents to $103.12 a barrel on the New York Mercantile Exchange. Brent crude for September delivery, a benchmark for international oils, rose 70 cents to $108.03 on the ICE Futures exchange in London.
The Energy Department reported that U.S. oil supplies fell by 4 million barrels last week, a sharper decline than the 2.6 million barrels expected by analysts surveyed by Platts, the energy information arm of McGraw-Hill Financial.
A host of influential Democratic politicians and policymakers descend on Las Vegas Thursday to attend the National Clean Energy Summit backed by Sen. Majority Leader Harry Reid, headlined this year by likely presidential candidate Hillary Clinton, National Journal reports.
SolarWorld is asking the Commerce Department to look into claims that the Chinese military hacked into its computers, suggesting that tariffs could be imposed in retaliation for cyberattacks, The New York Times reports.
Weak factory data in China and Europe weighed on oil prices Tuesday. U.S. benchmark crude for October delivery, at $95.23 a barrel in electronic trading on the Nymex, was 73 cents lower than Friday’s close, while in London Brent crude dropped 87 cents to $101.91, Reuters reports.
In a study examining 100 water wells across the Barnett Shale last year, University of Texas researchers reported finding what could be unhealthy levels of arsenic, although an industry spokesman expressed doubt that drilling would be responsible, the Denton Record-Chronicle reports.
Sonoma County is at the forefront of a movement gaining traction in a number of places around the country: Local governments going into the business of generating clean energy for their residents, the Los Angeles Times reports.
A report for the Maine Technology Institute – commissioned by a man since fired by Gov. Paul LePage – found that the alternative energy sector holds the promise of generating jobs when backed by seed money and investment, according to the Portland Press Herald.
An analysis from the World Resources Institute says 38 percent of the world’s shale gas and oil reserves are located in areas with limited water supplies and concludes that may limit the global development of fracking, FuelFix reports.
Ahead of Toyota’s intended launch next year of a hydrogen fuel cell-powered car, an affiliate of the company has started construction on a hydrogen filling station in Nagoya, Japan, The Wall Street Journal reports.