Britain will ban new petrol and diesel cars from 2040: minister
Britain will ban the sale of new petrol and diesel-powered cars from 2040 as part of a plan to get them off the roads altogether 10 years later, environment minister Continue Reading
UK unveils new plan to cut NO2; sale of new conventional gasoline and diesel cars to end by 2040; focus on local action
The UK Government unveiled its new plan to reduce roadside nitrogen dioxide (NO 2 ) concentrations in the shortest amount of time. Among the many policy and funding details in Continue Reading
Former Russian Energy Minister: OPEC Deal Working Exactly As Planned
OPEC held a technical meeting in St. Petersburg on July 24 to monitor compliance with the group’s cuts and assess the progress of the rebalancing of the oil market. Unlike Continue Reading
Seadrill Warns Again Of Chapter 11 As Extends $14B Debt Talks
Offshore drilling contractor Seadrill again delayed restructuring its $14 billion in debt and liabilities on Wednesday and reiterated that Chapter 11 bankruptcy was likely. Once the biggest offshore rig firm Continue Reading
Oil Prices Leap Higher After API Reports Huge Crude Draw
The American Petroleum Institute (API) reported a huge draw of 10.23 million barrels in United States crude oil inventories, compared to S&P Global Platts survey of analysts who expected a Continue Reading
Oil adds to rally on optimism over declining stocks
Oil prices firmed on Wednesday to hold near eight-week highs hit in the previous session, on expectations of a drawdown in U.S. stocks and as a rise in shale oil Continue Reading
Oil Prices Spike In Spite Of Bearish EIA Forecast
Oil prices have faced increased pressure in 2017; if it’s not Nigeria and Libya output, it’s US shale. If it’s not US shale, it’s predictions of weakening demand. If it’s Continue Reading
As Hedge Funds Bet Against Oil, Traders See Another Story
Traders and refiners buying and selling actual barrels say it’s starting to look somewhat more bullish. (Bloomberg) — Hedge funds are still holding large bearish bets against oil and OPEC, Continue Reading
Reduced Saudi oil imports lead U.S. oil inventories lower
The Khurais oil field in Saudi Arabia. Continued low imports to the United States of Saudi crude oil is a factor in the decline in U.S. oil inventories. File Photo Continue Reading
UAE buys first U.S. oil cargo to replace Qatar condensate: sources
The United Arab Emirates will import the country’s first oil cargo from the United States, two sources familiar with the matter said, as the OPEC producer sought substitutes to replace Continue Reading
UAE September crude cut should be model for others: energy minister
DUBAI (Reuters) – The United Arab Emirates’ energy minister said on Wednesday that he hoped a decision by Abu Dhabi National Oil Co (ADNOC) to cut crude allocations by 10 Continue Reading
Iraq production shoots up in June
Iraqi Oil Minister Jabbar al-Luiebi (center) lays a cornerstone at the Halfaya oil field, in Missan province, on July 9, 2017. The ceremony marked the beginning of the third and Continue Reading
Unlikely humanitarians – shippers returning to Libya face a tough moral dilemma
A surge in Libyan oil exports — production has increased sharply in the past few months, jumping to four-year highs of over 1 million b/d this month — is seeing Continue Reading
Militants hit Nigerian crude oil pipeline
Nigerian crude oil production was lowered following a militant tank on an oil pipeline, the state oil company said. File photo by vanhurck/Shutterstock July 25 (UPI) — A militant attack Continue Reading
Venezuela’s economic and political crisis in charts
While the cause of the protests that have swept across Venezuela is president Nicolás Maduro’s plan to rewrite the country’s constitution, the clashes come against a backdrop of collapsing living standards, Continue Reading
US Treasury preps Venezuelan oil export sanctions
The US Treasury Department is crafting sanctions which would prohibit the import of Venezuelan crude oil into the US, one of several sanctions options the White House is considering in Continue Reading
Brazil: Reserves and Production
Guest Post by George Kaplan Brazil is a major oil producing country, but in 2016 was still a net importer, though imports dropped significantly and they have been a slight Continue Reading
Dead Bodies Start Piling Up as Fuel Theft Booms in Mexico
Buying stolen gasoline in the central Mexican state of Puebla is easy. Pull off the main highway into a busy parking lot, and the black marketeers are waiting in pickup Continue Reading
Halliburton, Schlumberger take hit on Venezuela bills in second quarter
Venezuela was unable to pay its biggest oilfield suppliers in cash in the second quarter, and top service companies Halliburton and Schlumberger accepted promissory notes that they immediately wrote down Continue Reading
In Australia, Shell signals new era for LNG
The largest facility of its kind ever built, Shell’s floating Prelude liquefied natural gas facility arrives at its home off the coast of Western Australia. Photo courtesy of Shell Australia. Continue Reading
China, India oil imports show Saudi Arabia is already carrying the burden of cuts:
Saudi Arabia wants to do more to boost crude oil prices by taking a razor to its exports, but the kingdom is already doing much of the heavy lifting in Continue Reading
After China-induced price spike, coal set to resume long-term decline
Coal prices’ march to eight-month highs, driven by China’s huge appetite for power consumption, looks like an interlude in a longer-term decline and is seen losing traction later this year. Continue Reading
China’s crude oil imports to exceed 400 million tonnes this year: Sinopec executive
China’s crude oil imports will exceed 400 million tonnes this year, said an executive at a Chinese state oil giant on Tuesday, as continuing low oil prices and declining domestic Continue Reading
EnergyQuest: Australia achieves record LNG exports in 2016-17
Australia exported a record volume of 51.4 million tonnes of LNG during the 2016-17 financial year, according to figures just released by energy consultancy EnergyQuest, Adelaide. It is the first Continue Reading
New Regulations May Come As A Rude Awakening For Oil Companies
An agency little-known outside accounting circles recently issued draft rules to change the standards which govern the verification of the year-end oil and gas reserves of public companies. The change Continue Reading
Anadarko Blinks First In The Shale Standoff
As a reminder, in his latest letter to investors , Clark said that “the rising decline rates of major US shale basins, and the increasing incidents of frac hits (also Continue Reading
Researchers Have Been Underestimating the Cost of Wind and Solar
How should electricity from wind turbines and solar panels be evaluated? Should it be evaluated as if these devices are stand-alone devices? Or do these devices provide electricity that is Continue Reading
A Worldwide Gas Glut Claims $27 Billion Victim in Canada
Petronas drops high-profile LNG plans in British Columbia Plummeting prices threaten projects from Australia to Russia A $27 billion energy project in Canada just became the latest casualty of a Continue Reading
U.S. energy secretary duped into fake interview with Russian comedians
U.S. Energy Secretary Rick Perry optimistically discussed expanding American coal exports to Ukraine and other energy matters during a lengthy phone call this month with a Russian prankster who Perry Continue Reading
While Oil Patch Bleeds, Gas Drillers Race to Unleash Wells
Backlog of unused wells in Northeast plunges and output soars Price gains, new pipes have gas drillers letting wells loose Oil prices have been lousy for so long that U.S. Continue Reading
Green Car Congress: Stanford, CMU, MIT team reviews challenges to practical implementation of solid-state Li-ion batteries
Toyota, which has been working on solid-state batteries for EVs for a number of years (earlier post), is in the news with a report by the Wall Street Journal that it will be ready Continue Reading
Shortage Of Fracking Crews Slows The Shale Boom
The resurgence in shale drilling and production could be bumping up against some limits, with output expected to fall far short of market expectations for this year and next, according Continue Reading
Devon reports record rate for STACK well
Devon Energy Corp., Oklahoma City, reported a production rate of 6,000 boe/d from a well drilled in southwest Kingfisher County, Okla. The company said it’s a record rate for initial Continue Reading
Russia sees oil supplies dwindling from global market
Hundreds of millions of barrels of crude oil are lacking from the global energy market because of joint efforts with OPEC, Russia’s oil minister said Monday. Members of a committee Continue Reading
German conservative calls for phase-out of petrol and diesel
Germany should soon start phasing out petrol and diesel, a member of Chancellor Angela Merkel’s Christian Democrats (CDU) said as Britain announced it would ban the sale of new petrol Continue Reading
Oil steady after fall ahead of OPEC/non-OPEC meeting
Oil prices were little changed on Monday following a steep fall in the previous session amid growing expectations that the joint OPEC and non-OPEC ministerial meeting later in the day Continue Reading
Libya, Nigeria Oil Output Caps Are Said to Be Ruled Out for Now
Limiting oil output from Nigeria and Libya won’t be on the agenda when OPEC and other producers meet on Monday, with both African nations saying they’ll need to keep pumping Continue Reading
OPEC, non-OPEC debate how to cap rising Libyan, Nigerian oil output
Russia called on OPEC to limit oil output rises from its members Libya and Nigeria in the near future, as it hosted a meeting of key OPEC states on Monday Continue Reading
Falih: no discussion of deeper oil output cuts at OPEC/non-OPEC meeting
Saudi Energy Minister Khalid al-Falih said there would be no discussion of deeper oil output cuts at a meeting of ministers from OPEC and non-OPEC nations on Monday. Ministers from Continue Reading
OPEC Huddles With Oil Allies in Fight Against Glut
ST. PETERSBURG—The Organization of the Petroleum Exporting Countries met Monday with big oil-producing allies such as Russia, wrestling with a difficult fact: They are pumping too much crude. OPEC, the Continue Reading
OPEC Grapples With Growing Threats to Oil Deal
OPEC is worried that its plan to drain a global oil glut—and thereby raise crude prices—isn’t working. A long-planned meeting in St. Petersburg, Russia, on Monday to discuss the oil Continue Reading
No Winners in Gulf Feud as Saudi, Qatari Assets Converge on Oil
Investors aren’t taking sides in the biggest political crisis in the Gulf in decades because their focus has already returned to oil. Seven weeks after Saudi Arabia led a Continue Reading
IMF Sees 2017 Saudi Growth ‘Close to Zero’ on Oil Prices, Cuts
Saudi Arabia’s economy will stall this year with growth “close to zero” due to lower oil revenue, the International Monetary Fund said. The fund lowered its 2017 growth forecast to Continue Reading
Libya’s Oil King Won’t Be Stopped By OPEC
Conflict-torn Libya, divided between rival factions in the east and the west, recently reached 1 million bpd of crude oil output—for the first time since 2013. The oil production recovery Continue Reading
Saudi Arabia Turns Off the U.S. Oil Tap
At last, Saudi Arabia seems to be doing what it takes to reduce the world’s most visible oil glut: the one in the U.S. Unfortunately, its renewed vigor comes as Continue Reading
Aggressive U.S. Oil Sanctions Could Bankrupt Venezuela
The U.S. government has warned that it would take “swift economic actions” if the Venezuelan government proceeds with a July 30 move to rewrite the constitution to consolidate power in Continue Reading
China’s Diesel, Gasoline Exports Surge to Ease Domestic Glut
China’s diesel and gasoline exports surged in the first half of the year as a domestic supply glut and slowing demand growth prompted refiners to sell more fuel abroad. Diesel Continue Reading
Trump May Have Unintentionally Killed U.S. Nuclear
President Trump has a different view of climate change than the previous administration. His decision to disassociate the U.S. from the Paris Climate Accords has received the lion’s share of Continue Reading
Mystery surrounds only oil well drilled in ANWR
With oil development advocates again emboldened by the prospects of cracking open the Arctic National Wildlife Refuge, a big secret that could add to the continuing debate over exploration remains Continue Reading
EPA chief spent almost half of spring in home state of Oklahoma
The head of the U.S. Environmental Protection Agency, Scott Pruitt, was in his home state of Oklahoma on at least 43 of the 92 days of March, April and May, Continue Reading