The Houthis hit a fuel-distribution center in Jeddah on the kingdom’s west coast with a Quds 2 rocket, according to a statement from their spokesman, Yahya Saree. SourceContinue Reading

Officials in Abu Dhabi privately floated the idea last week that the nation could leave OPEC, a highly unusual step that could destabilize oil markets. Energy Minister Suhail Al-Mazrouei later said the UAE “has always been a committed member,” though he didn’t address the country’s future in the cartel. SourceContinue Reading

The rise of China’s refining industry, combined with several large new plants in India and the Middle East, is reverberating through the global energy system. SourceContinue Reading

A highly anticipated U.S. government report on the April 20 oil crash will stop short of blaming any specific traders or firms, and refrain from recommending structural changes for the crude market, said three people familiar with the matter. SourceContinue Reading

Turkish Cypriots and Cyprus have been at loggerheads over offshore gas reserves in disputed waters. Cyprus has been pushing other EU states to expand a blacklist against Turkey over its natural-gas exploration in the eastern Mediterranean. Other governments including Germany were wary of provoking Turkey. SourceContinue Reading

Though a repeat of the negative oil prices seen in April is unlikely, the mounting supply glut brings home how new lockdowns may soon force traders to store oil in every nook and cranny available, including ships and pipelines. Some are already doing that. SourceContinue Reading

Gas futures tumbled Thursday as U.S. forecasts shifted warmer through early December, leaving bullish traders flat-footed after the previous day’s modest gain stoked speculation that the recent rout had run out of steam. SourceContinue Reading

Iraq awarded a contract to develop the West Qurna oilfield to Exxon and Royal Dutch Shell Plc in 2009. The oilfield is one of the world’s largest with expected recoverable reserves of over 20 billion barrels. SourceContinue Reading

While 2020 has provided significant challenges, “Noia has remained committed to providing value to our members and to helping them through this difficult period,” said Noia CEO Charlene Johnson. “Our virtual fall seminar was a great way to step outside the typical formula of virtual events that met the standard people have come to expect...Continue Reading

European leaders are resisting backing a climate plan pushed by Saudi Arabia that seeks to reduce emissions while capturing and reusing greenhouse gases produced by burning hydrocarbons. SourceContinue Reading