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Daily News

Category:
  • Energy Demand

Concerns Raised Over Strength of Future Oil Demand

Recession fears remain elevated for key markets. Recession fears remain elevated for key markets, including the U.S. and EU, raising concerns over the strength of future oil demand. That’s what Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Prices

Oil Set for Weekly Loss as Slowdown Concerns Offset US Demand

Oil is heading for a weekly loss as lingering concerns over an economic slowdown overshadowed signs of improving US demand. West Texas Intermediate futures dropped to near $89 a barrel Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Prices

Oil rises on U.S. crude stocks data, tight supply outlook

Oil prices rose on Thursday as robust U.S. fuel consumption data and expected falls in Russian supply late in the year offset concerns that a possible looming recession could undercut Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Electric Cars

Toyota Executive Warns EVs Face Obstacles to Wider Adoption

A top executive for Toyota TM -1.02%▼ Motor Corp. in North America warned Thursday that buyers might not shift to fully electric vehicles as quickly as some rivals expect and Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • OPEC

OPEC Sec Gen says oil slide driven by fear, upbeat on 2023 outlook

A recent oil-price slide reflects fears of economic slowdown and masks physical market fundamentals, OPEC’s new secretary general told Reuters, as he took a relatively optimistic view on the outlook Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Iran
  • USA

Iran deal tantalizingly close but US faces new hurdles

 Last week’s attack on author Salman Rushdie and the indictment of an Iranian national for plotting to murder former national security adviser John Bolton have given the Biden administration new Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Middle East

Middle East states set for $1.3tn oil windfall, says IMF

Energy-rich Middle East states are set to reap up to $1.3tn in additional oil revenues over the next four years, according to the IMF, as they enjoy a windfall that Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Iraq

July crude output rises by 100,000 bpd

Iraq’s nationwide oil production jumped by 100,000 barrels per day (bpd) in July, rising to 4.72 million bpd, according to field-by-field data compiled by Iraq Oil Report. The increase in Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Mozambique

Mozambique to Export First LNG as Global Natural-Gas Prices Soar

Mozambique is poised to ship its first cargo of liquefied natural gas overseas, joining the ranks of the world’s exporters as a global energy crunch pushes prices of the fuel Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Nigeria

Emirates suspends Nigeria flights over failure to repatriate funds

Emirates Airlines plans to suspend all flights to and from Nigeria because of an inability to repatriate funds out of the country, the carrier said on Thursday. The Dubai-based airline Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • West Africa

West Africa Is Drowning in Plastic. Who Is Responsible?

An initiative backed by Coca-Cola, Unilever and Danone to recycle the plastic waste choking Ghana is better at deflecting blame and avoiding regulation than actually recycling. Agnes Kwansah dragged her Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • China

China’s Power Crisis Could Spark A Spike In Coal Consumption

Southwestern China is experiencing a massive heatwave, sparking a power crisis in the region. The Chongqing municipal government has ordered factories to suspend production to conserve power. Moody’s Vice President Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • China

Yangtze shrinks as China’s drought disrupts industry

Ships crept down the middle of the Yangtze on Friday after China’s driest summer in six decades left one of the mightiest rivers barely half its normal width and set Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • USA

6 Ways The Inflation Reduction Act Will Help The Energy Industry

The Inflation Reduction Act has made it through Congress and is now heading to President Biden for one final signature. The bill is being hailed as a game changer for Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Natural Gas Supply
  • USA

U.S. Natural Gas Storage Sees Minimal Injection as Exports Rise

Falling far short of market expectations, the United States added only 18 billion cubic feet into its natural gas inventories for the week ending August 12, the Energy Information Administration Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Natural Gas Supply
  • USA

US gas storage levels increase by lower-than-expected 18 Bcf on week: EIA

US natural gas working stocks rose by just 18 Bcf during the week ended Aug. 12, well below market expectations, but the build was insufficient to keep the momentum going Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Refining
  • USA

U.S. oil refiners aim to run full-bore, spurning recession fears

U.S. crude oil refineries plan to keep running near full throttle this quarter, according to executives and estimates, as refiners set aside worries about recession and sliding retail prices to Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Germany

Energy squeeze could see Berlin’s gaslights flicker out

The night has a different colour in parts of Berlin where the streets are lit by gas: the light more ethereal and the shadows deeper. But these areas could be Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Nuclear
  • Ukraine

U.N. chief, in Ukraine, says he is worried by situation at front line nuclear plant

U.N. chief met Zelenskiy, Turkey’s Erdogan in Lviv Erdogan says they discussed ways to end conflict Zelenskiy says he agreed parameters of IAEA mission Moscow rejects calls for demilitarised zone Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • United Kingdom

Britain signs up old coal units as back-up in case of winter power crunch

Britain is turning to old coal-fired power units as a “last resort” in case other sources cannot provide enough electricity through the winter as the country faces a wider energy Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Germany

Seven out of 10 Germans using less energy due to soaring prices -survey

Seven out of 10 Germans are using less energy due to decades-high inflation in Europe’s largest economy while half are spending less on leisure activities, according to a new survey. Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • EU

European Gas Rallies to Record as Energy Crisis Pounds Region

European natural gas futures extended their gains to a record-high settlement as an energy-supply crunch continued to batter the region, amid signs that the is fuel becoming too costly for Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Climate
  • Europe

Rare, powerful thunderstorms bring severe winds to Europe, killing multiple

A massive storm complex has traveled a nearly 1,000-mile path across Europe, reportedly killing numerous people and causing devastation on the French island of Corsica and to landmarks in Venice, Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Russia

Russia Says It Needs Oil Storage Facilities Amid Western Sanctions

Russia needs strategic oil storage facilities to help its oil industry and oil trade with the Western sanctions, Russian experts and industry officials say. “As of today, it is necessary, Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • United Kingdom

Strikes bring London’s transport network to a halt

London’s transport network ground to a halt on Friday as train and bus workers held strikes over pay and conditions, the latest in a summer of labour market disputes as Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • United Kingdom

Britain faces ‘humanitarian crisis’ as energy costs soar, says health lobby

 Britain faces a “humanitarian crisis” this winter when the difficult choices forced upon low-income households by soaring energy bills could cause serious physical and mental illness, a healthcare lobby group Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Germany

German Power Climbs to Fresh Record as Industry Starts to Buckle

German power prices climbed to a fresh record, putting more pressure on industrial production and consumers struggling with a cost-of-living crisis. Rallying gas and coal prices and little sign of Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Germany

Germany’s Rhine Seen Surging to More Navigable Level Next Week

The water level at a key German chokepoint on the Rhine River is forecast to surge early next week, making it significantly easier for barges carrying vital cargoes to traverse Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Germany

Europe’s Gas Crunch Will Squeeze BASF

BASF’s hub in Ludwigshafen, Germany, could be run at 50% under contingency plans for possible gas rationing. This column is part of the sixth annual Heard on the Street stock-picking Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Europe

Europe’s Latest Natural Gas Pipeline Plan Won’t Solve Its Current Crisis

 The Iberian Peninsula holds around 30% of total Europe’s LNG processing capacity and yet it is not well connected to the rest of Europe. A plan to build a pipeline Continue Reading

Posted On : 19 Aug 2022 Published By : Tom Whipple
Category:
  • Prices

Oil Rises as Bullish US Demand Weighed Against Recession Fears

Oil rose as investors weighed lingering concerns about a global economic slowdown against bullish signals from the US and OPEC. West Texas Intermediate climbed 1.1% to over $89 a barrel, Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • Prices

Oil rises on U.S. crude stocks data, tight supply outlook

 Oil prices rose on Thursday as robust U.S. fuel consumption data and expected falls in Russian supply late in the year offset concerns that a possible looming recession could undercut Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Oil Jumps On Massive Crude Inventory Draw

Crude oil prices moved higher today, after the Energy Information Administration estimated a draw in oil inventories of 7.1 million barrels for the week to August 12. This compared with Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria hit by electricity blackout after workers strike

Nigeria was hit by a nationwide electricity blackout on Wednesday after workers at the Transmission Company of Nigeria (TCN) shut the national grid as they began an indefinite strike over Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • OPEC

Al Ghais: OPEC Isn’t Responsible For Inflation

While OPEC often finds itself the usual suspect when it comes to high crude oil and gasoline prices, it is not behind the current inflation trend, OPEC Secretary General Haitham Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • Iran

Iran Set To Boost Oil Exports In August

Iran could increase its oil exports in August as its crude is now estimated to be much cheaper than Russia’s in China, the key oil customer for both exporters, oil Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria: Amid Massive Under-Production, Nigeria Posts Record 9.4m Barrels Oil Loss to Shut-Ins, Others

Again, Nigeria has hit a new oil production loss record as a result of disruptions to its crude assets due to maintenance challenges, community issues and prolonged force majeure. Latest Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • Climate
  • India

Stories of Climate Adaptation From a Simmering Subcontinent

Commuters brave a heat wave in Allahabad in India’s Uttar Pradesh state on June 7. Air conditioners in the Himalayas and fans for the cows: How communities in India and Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • China

Yangtze tributary runs dry as China faces another month of drought

 Residents living near a tributary of the Yangtze river in the southwestern region of Chongqing clambered along the dry riverbed on Thursday amid an unprecedented drought across the region that Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • China

Xi Highlights Drought Risk in China as Power Supplies Threatened

An exposed riverbed, due to low water levels caused by drought, along the Jialing River, Aug. 17. Bloomberg News Chinese President Xi Jinping called on local authorities to work to Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • China

China’s largest property group Country Garden warns of 70% plunge in profit

The company, in a filing on Thursday, said core profit was between about Rmb4-5bn and Rmb5bn ($6634mn and $736mn) in the first six months of 2022, down from Rmb15.2bn a Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • China

China’s Heat Wave Strains Its Economy

Faced with China’s most searing heat wave in six decades, factories in the country’s southwest are being forced to close. A severe drought has shrunk rivers, disrupting the region’s supply Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • China

China’s power shortages disrupt nonferrous operations

Highlights Several parts of China face unprecedented heatwaves Authorities order industrial production restrictions amid power crunch Sichuan industry most affected due to power supply issues Authorities in several parts of Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • China

Toyota, CATL Shut Plants in Sichuan as Power Crisis Worsens

Toyota Motor Corp. and Contemporary Amperex Technology Co. , the world’s top battery maker, are closing plants in China’s Sichuan province as a drought-induced power crisis worsens. The Japanese automaker Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • Shipping
  • USA

U.S. Shipping Backups Shift to East Coast and Gulf Coast Ports

 U.S. importers seeking relief from bottlenecks at West Coast gateways are triggering new backups at East Coast and Gulf Coast ports, adding to strains on the country’s troubled supply chains. Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

U.S. Crude Inventories Fell To Lowest Level Since 2004 In June

JODI: global crude inventories fell by 21.8 million barrels to 915.8 million barrels in June. The low level of crude inventories coincided with record-high gasoline prices in the U.S. in Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • Gulf Of Mexico

Gulf of Mexico Oil Leases Up in the Air Amid Another Court Ruling

A U.S. court of appeals has ruled that President Joe Biden’s pause on oil and gas leases on public land can be reinstated, just days after the passage of a Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • California

California ISO issues flex alert, calls for voluntary electricity conservation in heat wave

 Excessive heat watch, heat advisory through Aug. 19 SP15 spot reaches 11-month high of $149.97/MWh Peakload reached 23-month high of 45.06 GW Aug. 16 The California Independent System Operator has Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • USA

Oil Giants Must Face Climate-Liability Suits in States, Appeals Court Rules

A federal appeals court ruled that lawsuits by Delaware and Hoboken, N.J., seeking compensation from oil companies for the impacts of climate change should be decided in state, not federal Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple
Category:
  • Shipping
  • USA

Oil companies work around Jones Act to supply U.S. fuel markets

U.S. oil companies are working around a century-old shipping law to supply fuel to the U.S. East Coast, according to data from Refinitiv and oil trading sources, as high demand Continue Reading

Posted On : 18 Aug 2022 Published By : Tom Whipple

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