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The Houthis, a rebel army fighting against Saudi-led interests in Yemen, claimed credit for launching the attacks on Saturday. However, the U.S. government now says it believes the assault was launched from Iran, and that it may have involved cruise missiles rather than drones.The strikes centered on Saudi Arabia’s Abqaiq refinery. Abqaiq is the world’s largest oil refinery, processing about two-thirds of the total Saudi supply each day. Saudi Arabia is the world’s second-largest producer of crude oil behind the United States.Several large Saudi oil fields were also attacked. Those attacks, along with the disruption of the Abqaiq refinery...

The Israeli Broadcasting Corporation is reporting another ship has been seized in the gulf. Correspondent Amochai Stein said on Twitter: “Iran has seized another oil vessel in the Strait of Hormuz. Iran's Revolutionary Guard arrests a vessel and 11 crew on 'diesel smuggling charges'."

Because we have done so well with Energy over the last few years (thank you, Mr. President!), we are a net Energy Exporter, & now the Number One Energy Producer in the World. We don’t need Middle Eastern Oil & Gas, & in fact have very few tankers there, but will help our Allies!

Drone attacks on two critical production facilities in Saudi Arabia wiped out over 5% of the world’s oil supply in one go, eliminating the spare capacity of the entire globe. The attacks, which targeted an oil processing facility at Abqaiq and the nearby Khurais oil field knocked out 5.7 million barrels of daily crude production, a whopping 50% of Saudi Arabia’s entire oil output. “This incident effectively eliminates the world’s spare capacity,” said Sarah Cottle, global head of market insight at S&P Global Platts. The attacks led at one point to oil prices spiking by 19%, the biggest leap since...

Crude prices surged Sunday evening following an attack on Saudi Arabia’s oil infrastructure and announcement from President Trump that he has authorized the release of oil from the Strategic Petroleum Reserve. U.S. oil futures advanced about 12% to $61.60 a barrel shortly after trading opened at 6 p.m. ET. Brent crude, the global gauge of oil prices, soared 13% to nearly $69 a barrel. If those moves held, they would mark some of the biggest intraday for crude in years. ...

DUBAI (Reuters) - The attack on Saudi Arabia’s oil facilities on Saturday that has threatened global oil supplies came from the direction of Iran, and cruise missiles may have been used, according to a senior U.S. official.

Saturday’s attack on a critical Saudi oil facility will almost certainly rock the world energy market in the short term, but it also carries disturbing long-term implications. Ever since the dual 1970s oil crises, energy security officials have fretted about a deliberate strike on one of the critical choke points of energy production and transport. Sea lanes such as the Strait of Hormuz usually feature in such speculation. The facility in question at Abqaiq is perhaps more critical and vulnerable. The Wall Street Journal reported that 5.7 million barrels a day of output, or some 5% of world supply, had...

With the U.S, Russia, and China all jostling for position in Iraq’s oil and gas industry both north and south, Iraq’s oil ministry last week reiterated its desire to have one or more foreign partners in the Mansuriya gas field. Situated in Diyala province, close to the Iran border, Mansuriya is estimated to hold around 4.6 trillion cubic feet of natural gas, with plateau production projected at about 325 million standard cubic feet per day. For the U.S., encouraging Iraq to optimise its gas flows so that it reduces its dependency for power from Iran is the key consideration. For...

Greenpeace activists have suspended themselves from the Fred Hartman Bridge, effectively shutting down the Houston Ship Channel to ships trying to enter and leave the port: HAPPENING NOW: We're in the heart of the fossil fuel industry (the largest oil export channel in the US) to confront Trump & the oil industry. RT to support the brave activists & take action for #GreenNewDeal! >> https://t.co/xGNiM0OlYG pic.twitter.com/xkoyvj2nt6— Greenpeace USA (@greenpeaceusa) September 12, 2019 This is to get attention ahead of tonight’s Dem debate in Houston with they hope that the candidates will “promise to hold the fossil fuel industry accountable”: As...

This is the third installment of this rather dense book. In part I, Zehan reviewed the shale revolution, the end of the Bretton Woods structure in which the US provided worldwide protection for free trade, and the demographic collapse that in particular will drive Russia, China, and Japan into conflict in the next 20-30 years. In Part III, Zeihan notes that the American retrenchment will remove the props that allow the international structure to exist; that after 20-30 years the US may again intervene in world affairs; but that when it does, the restructured, sharpened, trained US military will have...

Sen. Elizabeth Warren (D-MA) on Friday promised to sign an executive order on her first day in office, putting a moratorium on new fossil fuel leases and pledged to ban fracking “everywhere.” Warren promised in a tweet Friday to “sign an executive order that puts a total moratorium on all new fossil fuel leases for drilling offshore and on public lands” and vowed to “ban fracking — everywhere”:

The security service for the Canadian Senate has apologized to an energy industry executive who complained in an open letter about being forced to turn his T-shirt inside out during a tour of the building after a security official said it might offend some people. The Calgary Herald reports William Lacey, chief financial officer of Steelhead Petroleum, was on tour of the Senate with his family wearing a T-shirt that said “I love Canadian oil” on the front and “The world needs more Canadian energy” on the back. According to Lacey, “The guard looked at me and he said, ‘Sir,...

New Mexico’s oil and gas industry is expected to keep growing at a record pace, resulting in more revenue for the state and billions of dollars in new infrastructure investments to get the commodities to market, according to a study commissioned by industry trade groups. The predictions were outlined in a report presented to state lawmakers during a meeting Tuesday in Roswell. The report, compiled by a national consulting group, was commissioned by the New Mexico Oil and Gas Association and the American Petroleum Institute. Analysts estimate it will take $174 billion of new infrastructure to keep pace with expected...

ALBUQUERQUE, N.M. — Southeast New Mexico businesswoman Claire Chase has become the third Republican in the 2nd Congressional District race. She announced her candidacy Tuesday, joining former state Rep. Yvette Herrell and Las Cruces businessman Chris Mathys in bids to challenge Democratic Rep. Xochitl Torres Small in November 2020. “Our state is ranked worst in the nation for education and 50th in child well-being because liberal, career politicians are pushing radical policies that support open borders, undermine the industries that power our economy, and threaten our way of life,” Chase said in a release. “We need a businesswoman, a mother,...

RED RIVER — For the second straight year, New Mexico lawmakers will likely have a mountain of money available for spending on public schools, roads, health care and other programs. The state will have an estimated $907 million in “new” money available in the coming budget year due primarily to unprecedented oil production levels and related economic growth in southeast New Mexico, according to new revenue figures released Wednesday by legislative and executive economists. Overall, the state is on track to spend more than $7 billion in year-over-year spending this budget year, while revenues are expected to reach an all-time...

New Mexico is home to part of the Permian play, the star of the shale industry and the place where oil production is growing at the fastest pace in the country. It is also the state whose new governor has one of the most ambitious emissions plans in the U.S. Governor Michelle Lujan Grisham took office with two climate-friendly pledges: to make New Mexico’s electricity emission-free by 2045, and to curb methane emissions from the oil and gas industry more substantially than they are being limited now. However, the oil industry is one of the biggest revenue contributors to the...

The United States' surging oil and gas production will soon allow the country to surpass Saudi Arabia in liquid petroleum exports. While Saudi Arabia will remain the top crude oil exporter, the U.S. is destined to usurp the kingdom as soon as late 2019 when it comes to overall liquid petroleum exports, including fuels and some natural gas liquids, according to a new report from the Norwegian research firm Rystad Energy. "Increasingly profitable shale production and a robust global appetite for light oil and gasoline is poised to bring the U.S. to a position of oil dominance in the next...

MOSCOW (Reuters) - Russia's Rosneft, one of the world's top oil producers and exporters, has notified customers that future tender contracts for oil products will be denominated in euros not dollars, five trading sources told Reuters. The move, which could come as soon as this year, is likely to be seen as an attempt to offset any potential negative impact of U.S. sanctions on Russia. Rosneft, which accounts for over 40% of oil output in Russia, produced 45.8 million tonnes of oil products at home in the first six months of this year - from diesel and gasoline to fuel...

The United States has removed nearly 2.7 million barrels (per day) of Iranian oil from global markets as a result of Washington’s decision to reimpose sanctions on all purchases of Iran’s crude, US Secretary of State Mike Pompeo said on Tuesday. In an interview with MSNBC, Pompeo said the US government was confident it could continue with its strategy. “We have managed to take almost 2.7 million barrels of crude oil off of the market, denying Iran the wealth to create their terror campaign around the world, and we have managed to keep the oil markets fully supplied,” Pompeo said....

Oil fields, even abandoned oil fields, still contain significant amounts of oil. The researchers have found that injecting oxygen into the fields raises the temperature and liberates H2, which can them be separated from other gases via specialist filters. Hydrogen is not pre-existing in the reservoirs, but pumping oxygen means that the reaction to form hydrogen can take place. "This technique can draw up huge quantities of hydrogen while leaving the carbon in the ground. When working at production level, we anticipate we will be able to use the existing infrastructure and distribution chains to produce H2 for between 10...