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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
“ 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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
