Saudi Arabia, the world’s biggest crude exporter, risks becoming an oil importer in the next 20 years, according to Citigroup.
The state-owned oil company, known as Saudi Aramco, said it was able to clean out the virus that attacked the network from an external source on Aug. 15 and affected 30,000 personal computers. Output of crude oil and refined products wasn’t affected since the attack, the company said Sunday in an e-mailed statement.
As oil prices ticked above $115 per barrel last week, a White House leak revealed that President Barack Obama may dip into the Strategic Petroleum Reserve (SPR), the United States’ 695 million barrel stockpile of emergency fuel supplies. The leak might have been a signal that Washington wants Gulf countries to take action to lower […] More »
As we fast approach the peak of summertime, there are a number of energy-related stories that are more glaring than the noonday sun. Here are ten such tales highlighting some of the scorching stats currently causing sparks in Energyland™. 1) A number of power outages in India in the last week have left 670 million people […] More »
Well, no it isn’t (the question, that is). It is more of a statement or affirmation, as this post takes a look at two charts from two recent releases, BP’s Statistical Review of World Energy and the EIA’s Annual Energy Outlook , to show two contrasting themes. One chart illustrates key consumption levels, and the other illustrates […] More »
Government-owned energy companies in Oman and the United Arab Emirates are launching a joint venture to build an oil refinery and petrochemical complex in a port town on Oman’s Arabian Sea coast. More »
Shell is working on ways to make liquid transportation fuel from natural gas, but on Thursday it was showing off the expanded Motiva oil refinery in Port Arthur, a joint venture with Saudi Aramco. More »
Iraq’s government signed deals for only three of 12 oil and natural gas exploration sites offered in a two-day energy auction that ended Thursday, reflecting reluctance of foreign bidders to risk money in unexplored areas. More »
BP Plc (BP/), Europe’s second-biggest oil company, said it will begin exploring in Libya again after the civil war last year that ousted Muammar Qaddafi from power. More »
As Memorial Day and the summer driving season approach, American drivers can take to heart –albeit temporarily – that gasoline prices are slightly lower than they were at this time last year. Gasoline prices are also less than they were at this time in 2008, the year when prices spiked above $4/gallon. The AAA Daily […] More »
Israel Land Development Co. Energy Ltd., a natural-gas explorer, plans to drill early next month off the country’s Mediterranean coast and has funds needed to complete the testing work, its chief executive officer said. More »
Hoping to wean India from Iranian oil imports, U.S. Secretary of State Hillary Rodham Clinton is urging Indian leaders to explore alternative suppliers as she opens a three-day visit to the energy-starved South Asian giant that will also focus on regional security and easing trade restrictions. More »
Exports from Israel and perhaps Cyprus could improve relationships among countries in the eastern Mediterranean. More »
An Iranian official says the country’s oil industry is working well despite an attack from hackers and a computer virus that targeted the sector’s computer systems. More »
Iraq will begin operating a second offshore mooring facility for crude exports from the Persian Gulf, Dhia Jaafar, director general of Southern Oil Co., said. More »