Crude oil futures ticked higher in mid-morning trade in Asia June 23 after the American Petroleum Institute reported a large draw in US crude inventories as the market awaited the Continue Reading
Oil rose above $73 a barrel after an industry report pointed to another decline in U.S. crude stockpiles, adding to a bullish outlook. Futures in New York climbed 0.6% after Continue Reading
Oil prices soared on Monday as optimism around demand grew, but rumors that OPEC+ is considering boosting its oil production in August sent prices lower on Tuesday morning Chart of Continue Reading
Benchmark oil prices could hit $100 a barrel and price volatility could also grow due to lower investments and the energy transition, the heads of top energy companies said on Continue Reading
OPEC+ is discussing whether to further boost production at next week’s meeting as the oil market looks increasingly tight. Moscow is considering making a proposal that the group should ease Continue Reading
BofA’s Blanch Sees Three Reasons Why Oil Will Rise to $100 The bosses of some of the world’s biggest oil companies said crude prices are likely to keep rising because Continue Reading
American authorities took down a range of Iran’s state-linked news websites under unclear circumstances on Tuesday, the U.S. and Iran said, a move that appeared to be a far-reaching crackdown Continue Reading
As industries around the world increasingly turn towards environmental, social and governance (ESG) strategies to support their recovery from the Covid-19 pandemic, focus is sharpening on sustainable construction in the Continue Reading
Iran has started pumping oil at a giant new reservoir at the offshore Abuzar oilfield in the Gulf, Iran’s oil ministry news service Shana reported on Tuesday. The Iranian Offshore Continue Reading
Highlights Basrah Medium grade to benefit from higher OPEC+ quota New grade most popular out of three Basrah crudes Iraq working to defend market share in India Iraq’s State Oil Continue Reading
For decades, the true numbers relating to Saudi Arabia’s level of crude oil reserves and production have been a subject of much debate and confusion, not helped by the obfuscation Continue Reading
Gulf oil producers are finding it difficult to diversify their economies away from their biggest export revenue contributor, and it may take them at least a decade to make any Continue Reading
Iran has seized 7,000 computers mining cryptocurrency in breach of a recent ban on the electricity-sapping activity, as the Islamic Republic continues to struggle with severe power shortage in the Continue Reading
African countries from Uganda to South Africa are buckling under a ferocious third wave of coronavirus infections as the continent falls far behind the rest of the world in vaccinations. The Continue Reading
The deeply impoverished former English colony of Guyana has become one of the world’s hottest offshore drilling locations. Global energy supermajors have made a slew of major oil discoveries in Continue Reading
More than 90 countries are using Covid shots from China. Experts say recent infections in those places should serve as a cautionary tale in the global effort to fight the Continue Reading
In a dramatic reversal of fortunes, Beijing has announced huge cutbacks in import quotas for the country’s private oil refiners. According to Reuters, China’s independent refiners have been awarded a Continue Reading
Australia’s largest city of Sydney re-introduced “soft touch” COVID-19 curbs on Wednesday to contain a widening outbreak of the highly infectious Delta variant, mandating masks in offices while neighbouring states Continue Reading
Highlights China’s bitumen imports hits all-time high of 4.16 mil mt in May Imports as of June 12 still high at around 1.4-1.5 mil mt China’s independent refineries and trading Continue Reading
Nuclear propulsion for cargo vessels spurred by carbon regulation Samsung sees nuclear power as potential eco-friendly shipping option Reactor design could also be used in floating power plants South Korea’s Continue Reading
Activist investor Engine No.1 will soon launch its first exchange-traded fund (ETF) as it extends its efforts to improve the environmental and social impacts of large U.S. corporations beyond supermajor Continue Reading
Analysts expect another below-average natural gas injection to US storage fields for the week ended June 18 as multiple regions near the halfway point of the season with sizable deficits Continue Reading
Norway’s oil and gas industry is counting on renewable power from hydro plants to cut emissions from its offshore platforms but rival demand from the green economy is putting a Continue Reading
Record heat will scorch the West starting this weekend, likely taxing California’s power grid for days. Temperatures will rise 20 to 30 degrees Fahrenheit (11 to 17 Celsius) above normal Continue Reading
A key oil refinery for U.S. East Coast consumers is halting operations after escalating environmental scrutiny made it impossible for backers to obtain desperately needed financing. The owners of the Continue Reading
The highly transmissible Delta variant of the Covid-19 virus is spreading so rapidly in the U.S. that it could become the dominant strain in the next two to three weeks, researchers said, Continue Reading
Oshkosh Defense has selected Spartanburg, South Carolina to be the home of its efforts to build the Next Generation Delivery Vehicle (NGDV) for the US Postal Service. ( Earlier post Continue Reading
BP will continue producing hydrocarbons for decades to come and will benefit from rising oil prices even as it reduces output as part of its shift to low-carbon energy, Chief Continue Reading
Power grids lack flexibility, security, maturity Distributed generation up 7x in next 10 years Cybersecurity becoming increasingly important The vast majority of electricity distribution system operators are not ready to Continue Reading
Russia’s largest oil producer, Rosneft (ROSN.MM) , would be able to commission its spare oil production capacity of 300,000 barrels per day within three months, Renaissance Capital analysts said in Continue Reading
Germany has an opportunity to phase-out coal power plants almost a decade ahead of schedule — but it will require a fleet of natural gas plants to do it, a Continue Reading
Oil retreated after hitting $75 a barrel in London for the first time in over two years, as traders waited to see how OPEC+ will handle a rapidly tightening market. Continue Reading
Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019, as investors remained bullish about a quick recovery in global oil Continue Reading
US crude stocks expected down 6.3 million barrels Bank of America sees $100/b oil in 2022 Raisi election could muddy US-Iran nuclear talks Crude prices moved sharply higher June 21, Continue Reading
Oil jumped by the most in a month amid a weaker dollar and as key timespreads surged with expectations for further supply declines at the biggest storage hub in the Continue Reading
Trafigura’s Saad Rahim considers when oil will top $100 a barrel. Oil could top $100 a barrel in the next 12 to 18 months as the recovery from the pandemic Continue Reading
From $35 per barrel to $130 per barrel—this is the range for oil prices in the next few years that we could see, according to a commodity trading group. And Continue Reading
Some countries do not have enough Covid-19 jabs to continue their vaccination programmes A large number of poorer countries receiving Covid-19 vaccines through a global sharing scheme do not have Continue Reading
Oil, gas producers encouraged to do more on emissions Cost of capital higher in emerging markets Insufficient money being invested in clean energy projects in countries with emerging markets compared Continue Reading
OPEC+ is discussing a further gradual increase in oil output from August as oil prices rise on demand recovery, but no decision had been taken on the exact volume yet, Continue Reading
A hardline victory in Iran’s presidential election has tilted the domestic balance of power towards the country’s anti-Western clergy and away from officials chosen by popular vote, a shift Tehran Continue Reading
Countries in the oil-exporting Gulf will remain heavily dependent on hydrocarbon production for at least the next ten years as efforts to diversify economies have made limited progress since the Continue Reading
Iranian President-elect Ebrahim Raisi said Monday that he opposes talks on limiting Tehran’s ballistic missile program and its support for regional proxy forces. Speaking in the Iranian capital at his Continue Reading
Deadly conflict between the separatist Kurdistan Workers’ Party (PKK) and the dominant ruling party of Iraqi Kurdistan is threatening to shatter an informal truce that has largely kept the peace Continue Reading
News last week that U.K. oil super-major, BP, is working on a plan to spin off its operations in Iraq’s supergiant Rumaila oil field into a stand-alone company had an Continue Reading
NTPC Limited, the biggest utility in India which generates much of the power from coal, is almost doubling its target for installed renewables capacity by 2032, the company said at Continue Reading
Despite being wracked by nationwide anti-government protests the prospects for Colombia’s beaten-down oil industry are improving. Most of the protests and blockades of major roads have been ended allowing onshore Continue Reading
Venezuela is investing in crude oil production recovery and aims to boost its output four times by the end of the year, to 1.5 million barrels per day (bpd), Oil Continue Reading
Venezuela Vice President Delcy Rodriguez, says that the economic reforms recently implemented by President Nicolás Maduro are consistent with the administration’s guiding principles of Bolivarian socialism. She spoke exclusively in Continue Reading
Japan on Monday pledged to offer $10 billion financial aid for decarbonisation projects in Asia, such as renewable energy, energy-saving and conversion to gas-fired power generation from coal-fired power to Continue Reading
