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Daily News

Category:
  • Prices

Oil Edges Lower on Stronger Dollar and Still-Surging Virus

Oil edged lower in Asia as a stronger dollar and a still-surging coronavirus outweighed Chinese economic data that beat estimates. Futures in New York fell toward $52 a barrel after closing down Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Aviation

Covid-19’s Blow to Business Travel Is Expected to Last for Years

The coronavirus pandemic delivered a lingering, and possibly permanent, hit to business travel that is likely to weigh on employment and economic growth in some communities for years. Beyond the blows to airlines, Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Energy Demand

Global fossil fuel demand should peak in 2027, says consulting firm McKinsey

Aggregate fossil fuel demand on a global-scale is set to peak in 2027 – with oil peaking in 2029 and gas in 2037 – partially due to the impacts of Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Air Quality
  • Climate

Global Methane Emissions Equaled Europe’s Carbon Footprint in 2020

Emissions of planet-warming methane fell last year as oil and gas production declined, but they were still equivalent to the European Union’s total carbon dioxide emissions. Oil and gas operations emitted Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Climate

IEA calls for ‘urgent’ action to cut methane emissions from oil, gas sector

The International Energy Agency on Jan. 18 called on on companies, governments and regulators to take “urgent action” to cut methane emissions from the oil and gas sector, and warned Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Iran

Massive blackouts have hit Iran. The government is blaming bitcoin mining.

Massive blackouts and smog have hit cities across Iran. It’s a toxic mix as the country, already under economic duress and suffocating U.S. sanctions, simultaneously battles the region’s worst coronavirus outbreak. Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Iran
  • USA

Iran nuclear deal: Europe hopes for Biden outreach, but also sees time pressures

Washington’s European allies hope the incoming Biden administration will take swift steps to restore the Iran nuclear deal amid mounting pressures, including Tehran’s boost in uranium enrichment and elections later Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Libya

Libya’s Oil Output Drops as Pipelines Creak From War-Era Neglect

Libya’s oil output has dropped by about 200,000 barrels a day after the closure of a leaking pipeline, underscoring how difficult it is for the country to maintain its production following almost Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Ghana

Ghana’s Political Meddling Could Derail Its Oil Boom

Ghana has been one of the bright stars of the oil and gas market in the 2010s, ramping up its crude production from virtually zero to some 215kbpd by the Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • India

French energy group Total buys 20% stake in Adani Green Energy

French oil and energy group Total has agreed to buy a 20% minority stake in India’s Adani Green Energy Limited (AGEL) from Adani Group, as Total builds up its presence Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Venezuela

Pacific Island Nation Tells Venezuela ‘That Oil Tanker Isn’t Ours’

The island nation of Palau says a tanker that recently loaded Venezuelan crude was using a false signal to disguise its identity, potentially putting the Pacific country in the crosshairs Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela slams U.S. court approval of Citgo parent sale as ‘fraudulent’

Venezuelan Foreign Minister Jorge Arreaza on Saturday criticized a U.S. court ruling authorizing a sale of the shares in the parent company of U.S. refiner Citgo Petroleum Corp, calling it Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • China

China’s economy picks up speed in fourth quarter, ends 2020 in solid shape after COVID-19 shock

 China’s economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-striken 2020 in remarkably good shape and remained poised to expand further Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • China

China’s economy expands at faster rate than before coronavirus

China’s gross domestic product expanded 6.5 percent in the fourth quarter of 2020, a faster rate than before the coronavirus pandemic and easily outpacing the expected performance of other big Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • China

China’s 2020 GDP rises 2.3%, robust economic growth expected in 2021

China’s economy grew at 6.5% in the fourth quarter, bringing the world’s second-largest economy’s GDP growth to 2.3% in 2020, National Bureau of Statistics data showed Jan. 18. Receive daily Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • East Asia

Asia Energy Crisis

Northeast Asia has been hit by a mid-winter energy crisis as an extended period of much lower than normal temperatures across the region has strained supplies of coal, gas and Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Oil Supply

Oil-and-Gas Industry Faces a Slow Recovery From Pandemic Lows

Oil and gas prices are rebounding from their pandemic lows, but the road ahead for the industry remains challenging amid new competitive threats and demands from investors. Global spending on oil Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Oil

U.S. Shale Is Gaining Influence Over Oil Markets

OPEC was formed in 1960 by founding members Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. For a brief period, the petroleum cartel became the dominant force behind world oil prices Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Alaska

Has Big Oil Turned Its Back On Alaska?

“ Is Exploring For Oil Still Profitable? ” Oilprice asked back in August. As the novel coronavirus has swept the world, stalling whole industries, tanking oil demand and prices, leaving Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • USA

Will the US Regain Lost Oil Export Prominence?

Here is a look back at some of Rigzone’s most viewed downstream-related articles from the past week. Based on a review of pageviews, Rigzone’s downstream readership showed strong interest during Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Pipelines
  • USA

Biden may cancel Keystone XL pipeline permit as soon as his first day in office: source

 U.S. President-elect Joe Biden is planning to cancel the permit for the $9 billion Keystone XL pipeline project as one of his first acts in office, and perhaps as soon Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Pipelines
  • USA

Keystone XL Oil Project Pledges Zero Carbon Emissions

The Keystone oil pipeline’s developer plans to announce a series of overhauls—including a pledge to use only renewable energy—in a bid to win President-elect Joe Biden’s support for the controversial project. Aides Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Energy Storage

The Miraculous Material Transforming Energy Storage

A material discovered less than two decades ago could become the key to safer, faster-charging and lighter batteries that power electronic devices, electric vehicles, and stationary energy storage. Since the Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • USA

New rule could force banks to lend to oil companies

Big banks, climate activists and banking reform advocates don’t agree on much, but they have joined forces to denounce a proposed Trump administration rule that would make it harder for Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Hydrogen

German Tech Giant Places Major Bet On Green Hydrogen

Hydrogen is turning into the next media star after solar and wind. In its latest claim to fame, two spinoffs of German tech conglomerate Siemens are joining forces to advance Continue Reading

Posted On : 18 Jan 2021 Published By : Tom Whipple
Category:
  • Prices

Crude slides more than 2% amid stronger dollar, Chinese lockdowns

Oil futures settled lower Jan. 15 on the back of a stronger dollar and a renewed focus on demand growth concerns amid the spread of lockdowns across China. Not registered? Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Prices

Oil drops over 2% on China lockdowns, U.S. stimulus concerns

Oil prices fell more than 2% on Friday, with both contracts posting a loss on the week as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Slide Again

Oil slid by the most in three weeks as a stronger dollar and weak U.S. economic data stoked concerns over an economic rebound. Futures in New York tumbled 2.3% on Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Economy

Charting the Global Economy: Economic Pain Lingering Into 2021

The economic distress of the Covid-19 pandemic is picking up where it left off at the end of 2020. The latest high-frequency data show activity in the advanced economies softened in Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • OPEC

OPEC Oil Revenues Could Slump To 18-Year Low

OPEC’s crude oil export revenues for 2020 could decline to $323 billion, the U.S. Energy Information Administration said in a new report, noting that this would be the lowest revenue Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • OPEC

OPEC Update, January 15, 2020

OPEC Monthly Oil Market Report for December 2020 was published this week. The last month reported in each of the charts that follow is December 2020 and the output reported Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria’s Forcados crude exports on force majeure due to pipeline closure: Shell

Loadings of Nigeria’s key export grade Forcados are on force majeure due to the shutdown of the Trans Forcados pipeline, terminal operator Shell said late Jan. 14. The force majeure Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela Opens Up To Foreign Oil Investment

Venezuela is opening up to foreign investment in its oil industry, President Nicolas Maduro said this week, in a bid to reverse a catastrophic drop in its output under the Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Venezuela

Citgo still in limbo as judge approves sale of Venezuelan holding company’s shares

The fate of US refiner Citgo Petroleum remains in limbo following a federal court ruling late Jan. 14 that reaffirms the eventual auction of shares of Citgo’s Venezuelan holding company. Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • coronavirus
  • USA

U.K. Covid-19 Strain Likely to Become Dominant in U.S. in March, CDC Says

A highly transmissible coronavirus variant that was first identified in the U.K. is spreading rapidly in the U.S. and likely to become the dominant strain circulating domestically in March unless steps Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Climate
  • Total

Oil giant Total withdraws from US energy lobbying group

 French oil and gas company Total said it has decided to withdraw from energy association American Petroleum Institute because it disagrees on climate-related policies. Total said in a statement Friday Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Oil

OPEC Predicts A Rebound In U.S. Shale

Oil prices fell back on Friday morning as demand fears grow, but OPEC has predicted an increase in U.S. shale production at current price levels. With 2021 shaping up to Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Oil

Big Oil Watches In Fear As SEC Probes Exxon’s Permian Valuation

Having soared in recent days, rising 21% YTD on the back of the gamma squeeze discussed yesterday, and coupled with a barrage of analyst upgrades, most recently from Barclays and Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Oil

Exxon Draws SEC Probe Over Permian Basin Asset Valuation

The Securities and Exchange Commission launched an investigation of Exxon Mobil Corp. XOM -4.81% after an employee filed a whistleblower complaint last fall alleging that the energy giant overvalued one of its most important oil Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • coronavirus
  • USA

C.D.C. Warns the New Virus Variant Could Fuel Huge Spikes in Covid Cases

Federal health officials sounded the alarm Friday about a fast spreading, far more contagious variant of the coronavirus that is projected to become the dominant source of infection in the Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Oil

U.S. Rig Count Jumps Again As Oil Prices Stabilize

The U.S. oil rig count increased for the eigth consecutive week as drillers capitalize on higher oil prices Baker Hughes reported on Friday that the number of oil and gas Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Oil

U.S. Shale Drillers Begin To Hedge Oil Price Production

U.S. shale oil companies are hedging against future price drops as West Texas Intermediate enjoys a rebound above $50 a barrel, Reuters has reported , citing unnamed sources in the Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

US Strategic Petroleum Reserve to start unloading crude barrels as soon as April

A federal effort to sell roughly 20 million barrels of crude oil from the US Strategic Petroleum Reserve could begin deliveries as early as April and continue well into 2021. Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Oil

North Dakota oil production flattens in November to 1.224 million b/d: state

 North Dakota oil production was essentially flat month on month in November, falling just 0.5% to 1.224 million b/d, the state’s Department of Mineral Resources said Jan. 15 in releasing Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Air Lines
  • USA

Grounded Flights Are Sending U.S. Jet Fuel Prices Sliding Again

The new wave of lockdowns around the world is sending U.S. jet fuel prices slumping and exports slowing to a trickle all over again. It’s not as bad as the crash Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Climate
  • USA

Biden’s new hires show West Wing will be center of gravity on climate push

Days before he is set to take office, Joe Biden is setting up a bigger White House climate team than any president before him. As Juliet Eilperin and I report, Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • coronavirus
  • United Kingdom

UK toughens up borders over Brazil virus variant fears

 The U.K. moved Friday to toughen up its entry requirements beyond its surprise decision to ban travel from South America and Portugal in the face of a new virus variant Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Germany
  • Nord Stream

Germany approves resuming Russia gas pipeline work

German authorities gave permission Friday for work to resume on a subsea pipeline bringing natural gas from Russia that’s been the target of U.S. sanctions threats. The decision by the Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Nord Stream
  • Russia

Nord Stream 2 pipe-laying vessel not in position to resume Danish work:

 Work will not resume laying the Nord Stream 2 gas pipeline in Danish waters on Jan. 15, with the vessel approved to carry out pipelaying not yet at the site Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple
Category:
  • Russia

Russia’s Rosneft Looks To Attract Oil Traders To Huge Arctic Project

Russia’s top oil producer, state-controlled oil firm Rosneft, is in talks with some of the world’s largest oil trading houses, offering them to become investors in a major oil project Continue Reading

Posted On : 16 Jan 2021 Published By : Tom Whipple

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