Exxon’s Big Bet on Brazil Oil Could Signal Major Pre-salt Role
Exxon Mobil Corp’s big bet on Brazil’s offshore Campos basin shows its willingness to pay up to replenish its reserves and may pave the way for hefty bids in October Continue Reading
China issues NEV quotas for automakers: 10% of sales in 2019 and 12% in 2020
China has issued its anticipated new regulation requiring most automakers to sell a minimum number of new energy vehicles (NEVs) (battery-electric and plug-in hybrid) annually from 2019 as part of Continue Reading
China to raise retail fuel prices
China will raise the retail prices of gasoline and diesel from Saturday, the country’s top economic planner announced Friday. This is the eighth increase this year. As international oil prices Continue Reading
U.S. oil output up to 9.24 million bpd in July: EIA
U.S. crude oil production rose to a 9.24 million barrels day in July, an increase of 141,000 bpd, the U.S. Energy Information Administration said on Friday. Output increased by 21,000 Continue Reading
U.S. data show petroleum supply and consumer demand dropped
U.S. crude oil production slowed down during the summer, measures of consumer demand for fuels declined and imports are drying up, data from the industry show. Data from the American Continue Reading
Zarif calls on Europe to save Iran nuclear deal
Iran’s foreign minister has said he expects US President Donald Trump will not uphold a historic nuclear agreement next month, and called on Europeans to step in to protect the deal. Continue Reading
Energy Department Urges Pricing Shift That Could Bolster Coal, Nuclear
The Trump administration is urging independent energy regulators to change how electricity is priced, proposing new rules that would bolster revenue for coal-fired and nuclear power plants. The Energy Department Continue Reading
Oil Markets React Stoically On Rising Oil Rig Count
The total oil and gas rig count in the United States now stands at 940 rigs, up 418 rigs from the year prior, with the number of oil rigs in Continue Reading
Twin Nuclear Plants In Georgia Get $3.7 Billion Lifeline
Nuclear power plants received a much needed boost from the Trump administration this week when the White House approved $3.7 billion in loan guarantees for two struggling power plants in Continue Reading
Shale Drillers To Lose At Sub-$50 Oil
Shale oil and gas producers need WTI prices at least US$50 oil to be able to see significant returns, analysts from Moody’s said in a research note today. For natural Continue Reading