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Iran negotiations, OPEC meeting loom for oil markets

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As November draws to a close, there are two major events that could profoundly change the oil markets. He says a deal is more likely than not due to the enormous financial pressure Iran is experiencing because of falling oil prices. Iran’s oil exports have more than halved from their pre-sanctions level of about 2.5

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Researchers find abundance of oil-eating bacteria in northeast Atlantic

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A team of scientists from Heriot-Watt University has found the waters in the Faroe-Shetland Channel (FSC) are teeming with oil-eating bacteria. The FSC is a deepwater sub-Arctic region where the oil and gas industry has been active for the last 40?years. —Angelova et al. 03701-20.

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EPA proposes new rulemaking for sharp cuts in methane emissions from oil and gas industry

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The US Environmental Protection Agency (EPA) is proposing comprehensive new regulations to reduce methane emissions from the oil and natural gas industry—including, for the first time, reductions from existing sources nationwide. Source: EPA.

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Heating Oil Consumers Are Facing a Crisis Next Winter

Green Energy Consumers

Although Spring is in the air and we have so many current events of great importance, there’s reason to think about how difficult next winter will be for heating oil consumers. But this blog is about the heating oil market as it would affect consumers in Massachusetts, Rhode Island, and the rest of New England.

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IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

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Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 The oil market fear that characterized March and the extreme price pressure that producers felt in April have galvanized producers across North America into unprecedented action. However, nearly 1.4

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Indian Oil eyes fuel supply for Formula 1 cars | Autocar Professional

Baua Electric

Indian Oil Corp, the country’s largest fuel marketing company, plans to secure fuel supply contracts from teams participating in the Formula 1 championship. “We We expect to manufacture the fuel for Formula 1 cars and obtain the required certifications within three months,” Indian Oil Chairman Shrikant Madhav Vaidya said.

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Opinion: There Is No Such Thing As Peak Oil Demand

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Notwithstanding that oil demand has increased for over 150 years, it will eventually stop increasing. If oil demand were to reach an actual peak, then the top might be easier to predict. Without sufficient damping, the market has often overcompensated. The experience of projected versus actual peak oil demand in the U.S.

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