2nd line of China-Russia oil link starts

The second line of the China-Russia oil pipeline began commercial operation on Monday, another step in diversifying China’s energy supply and ensuring its energy security, according to China National Petroleum Corp, the country’s biggest oil producer. With an annual capacity of 15 million metric tons, the project is expected to double China’s annual imports of Russian… Please follow and like us:

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As Oil Prices Rise Again [editorial]

On Tuesday last week, crude oil prices rose to about $61 per barrel in the international market, its highest since July 2015. There are indications that it rise to $70 and above in the next few weeks. This development is attributed to tightening market due to on-going OPEC-led efforts to cut supplies. The oil production cut… Please follow and like us:

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Alaska Lawmakers Want To Drill For More Oil

In order to fight climate change and help cover the expensive burden, Alaskan lawmakers have come up with a solution: drill more. Republican Senator Lisa Murkowski, who supports drilling in Alaska’s Arctic National Wildlife Refuge, voiced her long-held opinion during a hearing of the Senate Committee on Energy and Natural Resources. During the November 2 meeting,… Please follow and like us:

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Harvey has knocked out a significant portion of the nation’s oil refining capacity

The nation’s biggest oil refinery shut down Wednesday morning as Tropical Storm Harvey continued to hammer the core of the U.S. industry that turns crude oil into gasoline. The Motiva refinery in Port Arthur, Texas, began a “controlled shutdown” at 5 a.m. Wednesday, joining more than a dozen other facilities in Corpus Christi, Beaumont and other… Please follow and like us:

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Opening A New Era For U.S. Offshore Energy

The Trump administration is taking the first step to more fully harness the United States’ offshore oil and natural gas wealth, beginning work on a new five-year offshore leasing plan – the federal blueprint for future offshore development. It’s great news for America’s future energy security, for consumers and our economy. President Trump’s executive order in… Please follow and like us:

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ExxonMobil Earnings – What Do They Mean?

This week, ExxonMobil and Chevron released quarterly results from Q1 2017. Both released numbers that topped consensus estimates. Some analysts have suggested the Exxon’s numbers can provide insight into the energy sector, as follows. As the world’s largest publically traded oil and gas company, ExxonMobil can say a lot about the oil economy as a whole.… Please follow and like us:

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