Mexico is betting on ‘complex geology’ development to reverse the fortunes of its state-owned oil and gas giant Pemex, which has been struggling with declining production and enormous debts in recent years. A return to unconventional exploration could be a boon to the Mexican firm’s production and profits and to the state’s finances.   New Mexican president Claudia Sheinbaum is open to shale resource development, unlike her predecessor Andrés Manuel López Obrador, who had cancelled previous contracts and…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell this week, shrinking by 2.4 million barrels in the week ending August 15. Analysts had expected a 1.2-million-barrel draw. So far this year, crude oil inventories are up nearly 8 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 400,000 barrels to 403.4 million barrels in the week ending August 15.…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell this week, shrinking by 2.4 million barrels in the week ending August 15. Analysts had expected a 1.2-million-barrel draw. So far this year, crude oil inventories are up nearly 8 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 400,000 barrels to 403.4 million barrels in the week ending August 15.…

It is a long time coming, but the impoverished South American country of Suriname is poised to enjoy the fruits of a major oil boom. For nearly a decade, the government, in the capital Paramaribo, hungrily eyed neighboring Guyana’s drilling success, which transformed that country into the world’s newest petrostate. Yet Suriname’s offshore drilling, despite yielding positive results, repeatedly experienced uncertainty and delays. This took place as the economic situation in the former Dutch colony deteriorated, causing to President…

The Interior Department just laid out a decades-long offshore leasing calendar under the One Big Beautiful Bill Act, locking in regular auctions in the Gulf of America and Alaska’s Cook Inlet. At least 30 Gulf sales and six in Cook Inlet are scheduled, according to a Department of the Interior press release—the clearest signal yet that the Trump administration is leaning hard into offshore drilling as the backbone of its energy agenda. The Gulf still does the heavy lifting when it comes to US oil production, pumping 14–15% of…

The Interior Department just laid out a decades-long offshore leasing calendar under the One Big Beautiful Bill Act, locking in regular auctions in the Gulf of America and Alaska’s Cook Inlet. At least 30 Gulf sales and six in Cook Inlet are scheduled, according to a Department of the Interior press release—the clearest signal yet that the Trump administration is leaning hard into offshore drilling as the backbone of its energy agenda. The Gulf still does the heavy lifting when it comes to US oil production, pumping 14–15% of…

The U.S. East Coast dodged a massive bullet this week as powerful Category 3 Hurricane Erin passed near the Bahamas on Tuesday morning. Instead of making landfall, Erin is expected to unleash rough surf from Central Florida to Canada before curving out into the western Atlantic later this week. This has certaintly brought excitement for East Coast surfers.  At 0500 ET, Erin was approximately 700 miles southwest of Bermuda and 750 miles south-southeast of Cape Hatteras.  "Erin forecast to substantially grow in…

With coal accounting for 54% of Asia’s power mix last year, the region faces a significant challenge in meeting its net-zero ambitions. In a bid to cut emissions, several Asian countries are turning to ammonia for power generation, particularly through co-firing, blending low-carbon ammonia with coal or natural gas. Rystad Energy expects China, Indonesia, Japan and South Korea to emerge as key hubs for this transition. However, a sizeable supply gap remains, with about 8.8 million tonnes per annum (Mtpa) of ammonia needed to meet 2030 targets.…

Barack Obama has one. So do Theodore Roosevelt, Woodrow Wilson, and Jimmy Carter. And it seems abundantly clear that Donald Trump is bucking for one too – a Nobel Peace Prize awarded to a sitting US president. Trump has gone on a peace-making offensive over the past few weeks. He is not only the driving force in trying to end Russia’s unprovoked war on Ukraine, but he is also at the center of efforts to settle the almost four-decade-long conflict in the Caucasus between Armenia and Azerbaijan. Success in both cases is far from certain.…

BP’s massive 440,000-barrel-per-day Whiting refinery—the largest in the U.S. Midwest—was forced into flaring late Monday after severe thunderstorms dumped heavy rain across northwest Indiana, flooding the site and surrounding neighborhoods. The company said in a statement that materials were being burned in the flare stacks to maintain safe operations and that response teams were on the ground to manage the situation. BP has not clarified whether output has been curtailed. The Whiting facility, perched on the southern edge of…

BP’s massive 440,000-barrel-per-day Whiting refinery—the largest in the U.S. Midwest—was forced into flaring late Monday after severe thunderstorms dumped heavy rain across northwest Indiana, flooding the site and surrounding neighborhoods. The company said in a statement that materials were being burned in the flare stacks to maintain safe operations and that response teams were on the ground to manage the situation. BP has not clarified whether output has been curtailed. The Whiting facility, perched on the southern edge of…

Security guarantees for Kyiv are a key issue at the heart of efforts to bring an end to fighting amid Russia's ongoing invasion of Ukraine, and now White House special envoy Steve Witkoff has put the term "Article 5-like" center stage. Witkoff told CNN on August 17 that it was agreed during the Alaska summit that Washington and its allies could offer "game-changing" assurances to Ukraine in the form of "Article 5-like protections," though he did not provide specifics. Witkoff said that, following President Donald Trump's meeting with Vladimir Putin,…

The Trump-Putin and subsequent Trump-Zelenskiy meetings provided ample talking points for the markets at large; however, the lack of sanctioning threats has been mostly a bearish factor for crude prices. The price drops of late have been relatively tiny, with ICE Brent still trading around $66 per barrel, yet the upside from here seems to be minimal, barring a sudden escalation.  

U.S. utilities have signed billions of dollars worth of mergers and acquisitions (M&A) deals this year, driven by the desire to position themselves for the power demand surge. The electric, gas, and water utilities sector has so far this year agreed more than $60 billion worth of asset and corporate acquisition deals, according to  LSEG data cited by Reuters. Some of the biggest deals include Constellation Energy, the biggest owner of U.S. nuclear power plants, buying Calpine in a cash and stock deal valued at an equity purchase price…

U.S. utilities have signed billions of dollars worth of mergers and acquisitions (M&A) deals this year, driven by the desire to position themselves for the power demand surge. The electric, gas, and water utilities sector has so far this year agreed more than $60 billion worth of asset and corporate acquisition deals, according to  LSEG data cited by Reuters. Some of the biggest deals include Constellation Energy, the biggest owner of U.S. nuclear power plants, buying Calpine in a cash and stock deal valued at an equity purchase price…

Japan has pledged to buy more American energy products as part of the July trade deal with the United States, but no Japanese refinery is built to handle 100% U.S.-sourced crude, Japan’s refining industry says. In July, the U.S. completed what President Donald Trump touted on Truth Social as “a massive Deal with Japan, perhaps the largest Deal ever made.”  Under the trade agreement, Japan’s goods imported in the United States will face a 15% tariff, lower than the 24% proposed in early April and the 25% tariff…

Japan has pledged to buy more American energy products as part of the July trade deal with the United States, but no Japanese refinery is built to handle 100% U.S.-sourced crude, Japan’s refining industry says. In July, the U.S. completed what President Donald Trump touted on Truth Social as “a massive Deal with Japan, perhaps the largest Deal ever made.”  Under the trade agreement, Japan’s goods imported in the United States will face a 15% tariff, lower than the 24% proposed in early April and the 25% tariff…

China has boosted imports of Russia’s flagship Urals crude, as refiners buy additional volumes of discounted oil while India is hesitant amid U.S. threats over its purchases of Russian oil. China is the top buyer of Russian crude, but most of its imports consist of the ESPO grade shipped from Russia’s port of Kozmino in the Far East. Urals, on the other hand, is being shipped from the ports in western Russia to India, and China hasn’t imported much of the grade due to higher shipping costs and longer voyages.   However, with…

A Lukoil refinery in the Russian city of Volgograd is on fire after being hit by Ukrainian drones overnight, Andrey Bocharov, governor of the Volgograd region, said on Tuesday. The Volgograd refinery is Lukoil’s second-biggest crude processing facility in Russia and a key fuel supplier to the southern federal district in the country. Russia has said it had shot down 13 Ukrainian drones over the Volgograd region on August 19, the Kyiv Independent reports. The attack on the Volgograd refinery is the latest in a series of at least half a dozen…

Over the past couple of years, uranium and nuclear energy markets have enjoyed a renaissance thanks to surging global power demand and the global energy crisis triggered by Russia’s war in Ukraine. Last year, uranium prices hit an all-time high, with U.S. production of yellowcake growing more than a dozen-fold to 700,000 pounds as producers looked to leverage high prices. However, uranium is no longer trading on legacy sentiment, with prices moving more on fundamentals characterized by tight physical supply, underbuilt production pipelines,…