Oil steadies ahead of OPEC+ meeting
Crude oil futures were steady to marginally higher in mid-morning trade in Asia June 2 as traders looked toward a possible extension of output cuts by OPEC+ in an upcoming Continue Reading
Oil prices rise ahead of OPEC+ meeting on extended output cuts
Oil prices rose on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a virtual meeting expected later Continue Reading
Oil Rally Fizzles With OPEC+ Set to Discuss Extending Its Curbs
Oil’s record rally sputtered as investors assessed whether OPEC and its allies will extend the supply curbs that helped drive prices higher. Futures settled slightly lower in New York on Continue Reading
Uncertainty About OPEC+ Cuts Has Oil Struggling to Sustain Rally
Oil’s record rally sputtered as investors assessed whether OPEC and its allies will extend the supply curbs that helped drive prices higher. Futures settled slightly lower in New York on Monday Continue Reading
Three Reasons Oil Prices Are Bouncing Back
Oil prices have come a long way since the deep dive into negative territory a month ago. One could argue that the price of West Texas Intermediate (WTI) is now Continue Reading
Mass Extinctions Are Accelerating, Scientists Report
We are in the midst of a mass extinction, many scientists have warned — this one driven not by a catastrophic natural event, but by humans. The unnatural loss of biodiversity is Continue Reading
Oil Majors Face Another Impossible Decision
The oil industry only has two choices as it reshapes itself after the oil price crash — either become broader energy firms or pursue a narrower specialization in oil and Continue Reading
Plunging cost of wind and solar marks turning point in energy transition: IRENA
Plunging costs of renewables mark a turning point in a global transition to low-carbon energy, with new solar or wind farms increasingly cheaper to build than running existing coal plants, Continue Reading
‘Going in the Wrong Direction’: More Tropical Forest Loss in 2019
Destruction of tropical forests worldwide increased last year, led again by Brazil, which was responsible for more than a third of the total, and where deforestation of the Amazon through Continue Reading
The Future Of Wind Energy
Proponents of renewable energy have faced criticism for years that while wind and solar power generate clean energy, the supply chain behind the technologies used in wind tower turbines and Continue Reading
Will OPEC+ Extend Its Historic Production Cut Agreement?
OPEC+ is set to bring forward its meeting to Thursday, with a short extension of the current production cuts as the most likely outcome. Originally scheduled to take place on Continue Reading
OPEC-led production cuts will likely pack a punch in lifting oil prices: survey
OPEC+’s landmark production cut deal along with a pickup in demand in the east of Suez may prove effective in raising the official selling prices for the Middle East crude Continue Reading
Saudi foreign reserves fall as sovereign wealth fund spends overseas
Saudi Arabia’s net foreign reserves fell by about $21bn in April after Riyadh transferred billions of dollars to its sovereign wealth fund to finance its overseas spending spree. Figures released by Continue Reading
Israel Is Betting Big On Solar Power
Israel, which hopes to become energy-independent with its huge natural gas fields, is aiming to significantly boost its solar power generation over the next decade under a new US$22.8 billion Continue Reading
Iraq’s oil exports fall 6.6% in May as OPEC producer sold oil at $21/b: ministry
Iraq’s oil exports, excluding those from the semi-autonomous Kurdish region, fell 6.6% in May, according to the oil ministry, indicating that OPEC’s second-biggest oil producer may have struggled to cut Continue Reading
Gulf region to suffer worst recession in 2020 due to oil crash, coronavirus: IIF
Economy of six-member GCC to contract 4.4% in 2020 Oman’s economy to shrink the most Oil GDP will contract 5.3% due to OPEC+ cuts The six-member Gulf Cooperation Council will Continue Reading
Iran ready to ship more fuel to Venezuela despite US ‘threats’
Iranian tankers carrying at least $45.5m worth of gasoline sailed into Venezuela without incident [Marcos Moreno/AP] Iran has said it will continue fuel shipments to Venezuela if Caracas requests more Continue Reading
Confusion Reigns in Venezuela on First Day of Higher Gas Prices
In the first day of higher gasoline prices in Venezuela, it’s hard to say who’s more confused. The attendants at the pump? Or the drivers. The good news is that there’s Continue Reading
China warns U.S. it will retaliate on moves over Hong Kong
China said on Monday U.S. attempts to harm Chinese interests will be met with firm countermeasures, criticising a U.S. decision to begin ending special treatment for Hong Kong as well Continue Reading
China tells state firms to halt purchases of major U.S. farm products: sources
China has told state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, after Washington said it would eliminate special Continue Reading
China snaps up Russia’s expensive Urals oil in thirst for sour barrels
China’s refiners have purchased a quarter of Russia’s Urals oil exports planned for June in the Baltic despite record-high premiums for the grade due to a lack of sour barrels Continue Reading
A Unique Engine Is Bringing Power to a Remote Philippine Island
An Israeli startup is hoping a new engine design can help bring power to remote outposts in Asia. Aquarius Engines Ltd. announced a partnership with Nokia Oyj on Monday and plans to begin field Continue Reading
China Is Trying to Salvage Its Bruised Electric-Car Industry
China is quietly reinforcing its car industry, pushing a range of support measures and levers to help salvage its world-leading push into electric vehicles. The coronavirus pandemic and oil-price slump Continue Reading
Commodities In Crisis As Geopolitical Turmoil Hits Key Markets
U.S.-China tensions have bubbled up again, and commodity markets could be caught up in the turmoil, not least LNG. Aviation activity and jet fuel are also in the mix this Continue Reading
China auto sales set to rise 12% in May: industry body
China’s vehicle sales for May are set to rise 11.7% year on year to 2.14 million, the country’s top auto industry body said in a post on its official WeChat Continue Reading
China Sees Room to Boost Renewable Installations by 52% in 2020
China this year will be able to absorb 52% more new wind and solar power capacity than in it added 2019. The world’s biggest energy consumer has space on its grids Continue Reading
Australia Water Crisis: Climate Change, Industrial Farms Dry Up the Heartland
The early afternoon sun was pounding the parched soil, and Gus Whyte was pulling on his dust-caked cowboy boots to take me for a drive. We’d just finished lunch—cured ham, Continue Reading
U.S. manufacturing activity off 11-year low; construction spending falls
U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from Continue Reading
U.S. EPA moves to curb state powers to deny permits for energy projects
U.S. Environmental Protection Agency chief Andrew Wheeler will sign a rule on Monday that would limit state powers to block pipelines, coal terminals and other energy infrastructure projects, according to Continue Reading
Coronavirus pandemic could give Democrats easier way to repeal major Trump EPA rules – The Washington Post
If Democrats win big in the November election, they may have an unusual way of quickly repealing some important Trump administration environmental rollbacks. That’s because the coronavirus pandemic has upended Continue Reading
U.S. manufacturing activity crawls off 11-year low
U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from Continue Reading
Electric Car Chargers Will Determine America’s Green Future
As long as there aren’t enough fast plugs in enough places, buyers and big automakers will stay away. View full article at www.bloomberg.com
Startup Presses Ahead With Pilot Projects to Electrify Roads
Electreon Wireless Ltd. is pressing ahead with projects to test its technology that allows electric cars to be charged while driving, potentially demonstrating a way to overcome a key barrier Continue Reading
CBO Says Economy Could Take Nearly 10 Years to Catch Up After Coronavirus
The U.S. economy could take the better part of a decade to fully recover from the coronavirus pandemic and related shutdowns, the Congressional Budget Office said Monday. In an analysis Continue Reading
Despite widespread economic toll, most Americans still favor controlling outbreak over restarting economy, Post-ABC poll finds
Nearly 6 in 10 Americans say the coronavirus outbreak has exacted a severe economic toll on their communities, but a majority of a divided country still says controlling the virus’s Continue Reading
Suncor: Energy Transition Will Destroy Oil Demand
Low-carbon technologies could disrupt global oil demand in the not-too-distant future the way COVID-19 crushed demand during the lockdowns worldwide, Mark Little, chief executive of one of Canada’s largest oil Continue Reading
The Last 6 Oil Rigs In The Centennial State
The oil price crash has forced producers in Colorado to slash their capital expenditure, suspend completion activities, and release rig crews, leaving just six operating rigs in the state as Continue Reading
Utilization at US liquefaction terminals plunges amid wave of cargo cancellations
Total feedgas at loiwest level since August 2019 Global demand languishing below available supply Feedgas deliveries to the six major US LNG export terminals plunged June 1 to their lowest Continue Reading
Waterborne US Gulf Coast gasoline volumes up as Latin demand set to return
Although the amount of gasoline floating along the US Gulf Coast in tankers is rising, the volume of gasoline in floating storage is declining, pointing to increasing exports to Latin Continue Reading
The Energy Transition Is an Oil Refinery Making Renewable Diesel
In a sign of changing times, a U.S. oil refining company is converting one of its plants into a producer of clean fuel. HollyFrontier Corp.’s Cheyenne refinery will stop using crude Continue Reading
U.S. Economy Faces Projected 10-Year Recovery From Coronavirus Effects
The U.S. economy contracted 5% in the first quarter of 2020. With the coronavirus crisis continuing into the summer, economists are expecting an even steeper contraction in the second quarter. Continue Reading
Pandemic to Cost U.S. Economy $7.9 Trillion Over 10 Years
The Congressional Budget Office projected on Monday that the pandemic would inflict a devastating long-term blow on the United States economy, costing $7.9 trillion over the next decade. Without adjusting Continue Reading
Offshore Oil Is On The Brink Of Collapse
Project cancellations, spending cuts, well shut-ins: the problems and dilemmas plaguing onshore oil producers have also spread to offshore. And while the effects of the Covid-19 pandemic on onshore drilling Continue Reading
WSU, PNNL researchers develop viable sodium battery
Washington State University (WSU) and Pacific Northwest National Laboratory (PNNL) researchers, with colleagues at Beijing University of Technology and Brookhaven National Laboratory, have created a sodium-ion battery that holds as Continue Reading
Russia Is Quickly Becoming The Most Dominant Force In Energy
Moscow’s oil pricing dispute with the Government of Saudi Arabia, a domestic U.S. oil boom, and a fall in global oil demand since the COVID19 outbreak have damaged Russia’s oil Continue Reading
VW preparing for mass-scale EV manufacturing:
Volkswagen is one of the few automakers already implementing its long-term electrification strategy and preparing for mass-scale electric vehicle manufacturing, despite the negative outlook for the auto industry due to Continue Reading
UK power grid balancing costs up 49% in April as gas fees boom
Balancing costs for April on the UK electricity grid were up 49% year on year as constraint payments to gas plants more than doubled to GBP56 million ($70 million), according Continue Reading
Sunniest Spring Helps U.K. Hit a New Solar Record
The U.K.’s sunniest spring on record has boosted solar power’s share of the electricity mix to new heights. Clear skies throughout May, with low power demand during the coronvirus lockdown, helped the Continue Reading
Trump And Putin Discuss The Future Of The Oil Market
U.S. President Donald Trump and Russian President Vladimir Putin discussed via phone the OPEC+ production cut agreements on Monday, according the Kremlin . The discussions included acknowledgement that the current Continue Reading
OPEC+’s Talks for Short Extension to Cuts Leave Oil Prices Flat
The oil market took an initially neutral view on OPEC+ deliberations that could result in the producers group announcing a short-extension to unprecedented output curbs. Futures in New York were Continue Reading