US-China $100bn trade war nears as talks end without deal
The world’s two largest economies remained on track to commence a $100bn trade war as early as this month, after a third round of China-US trade negotiations ended in Beijing Continue Reading
Why Justin Trudeau wants to keep Trans Mountain expansion alive
Like father, like son. In 1975, Pierre Trudeau, Canada’s then prime minister, set up Petro-Canada, a national oil company. Four decades later his son Justin, the present prime minister, is Continue Reading
Shale Bottlenecks Could Send Oil Prices Higher
Amid reports that OPEC will likely decide to start easing production quotas after June 22 and an IEA forecast that electric vehicles will displace 2.5 million bpd in crude oil Continue Reading
Why Oil Markets Should Fear Trump’s Trade War
“We’re putting the trade war on hold,” U.S. Secretary of Treasury Steven Mnuchin said on “Fox News Sunday,” nearly two weeks ago. That didn’t go down well with President Trump Continue Reading
Energy groups join together to condemn Trump’s plan to subsidize nuclear, coal plants
Today, President Trump asked the Department of Energy to take steps in preventing coal and nuclear plants from retiring. “Impending retirements of fuel-secure power facilities are leading to a rapid Continue Reading
H2Oh! Water is actually two liquids disguised as one
“WATER is very strange,” says Anders Nilsson. He should know: he has been studying the stuff for most of his working life. His claim may be hard for the rest Continue Reading
A New Energy Storage Solution Debuts In The Railway Sector
Battery technologies are all the craze these days as everyone is racing to find the perfect solution to energy storage for the growing share of solar and wind power in Continue Reading
Pope Francis To Discuss Climate Change With Big Oil
At a time when investors are piling pressure on Big Oil to take climate change seriously, top executives from some of the major global oil companies will be discussing climate Continue Reading
Oil prices shrug off positive U.S. jobs data
Multilateral trade concerns overshadowed a good U.S. jobs report for the commodities market, with crude oil prices tracking toward a loss on Friday. U.S. President Donald Trump hinted at a Continue Reading
WTI And Brent Go Their Separate Ways
Oil prices were a mixed bag this week, with Brent holding steady but WTI declining on higher U.S. output. The spread between the two benchmarks is rare, and reflects uncertainty Continue Reading
Expect A Bounce In WTI Prices
We are still in a period of headline risk in financial markets generally. Stocks, bonds and currencies are all reacting to news on subjects as diverse as trade, North Korea, Continue Reading
This Is What an Oil Shock Looks Like
If it looks like a duck, swims like a duck, and quacks like a duck, it’s probably a duck. And right now, this duck is looking a lot like an Continue Reading
Nigeria Loses N2.7 Billion Daily to Trans Ramos Pipeline Shut-in
With the current price of Brent crude oil at N75 per barrel during the trading hours of Monday, Nigeria is losing about N2.7 billion daily, as the 100,000 barrels per Continue Reading
Brazil oil workers end strike early, output not affected: Petrobras
Oil workers ended a 72-hour warning strike at Brazilian state-led oil producer and refiner Petrobras a day early after a Labor Court judge increased fines for not adhering to an Continue Reading
Trump orders Energy Department to help ailing coal, nuclear plants
U.S. President Donald Trump on Friday directed Energy Secretary Rick Perry to take emergency steps to keep at-risk coal and nuclear plants running, the White House announced. Under the directive, Continue Reading
Wide open arbs help US crudes capture international market share
With spot arbitrages open for multiple US crudes like WTI and Mars in Europe and across Asia, US grades are capturing more market share overseas. * Discounted WTI backing Forties Continue Reading
Baker Hughes: US Drillers Add Oil Rigs For Second Week In A Row
U.S. energy companies added oil rigs for a second week in a row even though crude prices have declined about 7 percent over the past two weeks and analysts do Continue Reading
Energy groups join together to condemn Trump’s plan to subsidize nuclear, coal plants
Today, President Trump asked the Department of Energy to take steps in preventing coal and nuclear plants from retiring. “Impending retirements of fuel-secure power facilities are leading to a rapid Continue Reading
CNOOC awards contract for oil field in South China Sea
A contract for subsea work at an oil field in the South China Sea could help unlock hundreds of millions of barrels of oil reserves, TechnipFMC announced. The oil and Continue Reading
Avoiding self-inflicted extinction. What are the solutions?
Humankind has the unenviable duty to address the looming threats of runaway climate change and environmental collapse. At risk are Earth’s millions of species and our human civilisation, all of Continue Reading
Rosneft Throws OPEC For A Loop, Boosts Output By 70,000 Bpd
Rosneft increased its crude oil production by 70,000 bpd over the last two days, the company told investors, in preparation for an OPEC+ decision to start easing production quotas, Bloomberg Continue Reading
European Commission wants more climate funding
The European Commission said it was backing an effort to take the global lead in environmental and climate action with a call for increased financing. “The European Union is a Continue Reading
Fiat Chrysler to phase out diesels in its passenger cars in EMEA by 2021; electrification roadmap
Fiat Chrysler will phase out diesel engines in its passenger cars sold in the EMEA (Europe, Middle East, Africa) market by 2021, according to company executives presenting at FCA Capital Continue Reading
Brent-WTI oil spread rises above $11 for first time since 2015
US oil prices are falling well behind their international rivals, as booming shale production has created pipeline constraints, driving the biggest discount to North Sea Brent in three years. On Continue Reading
Explaining The Double Digit WTI Discount
To be sure, oil prices have declined everywhere over the past week on news that OPEC and Russia might agree to lift production levels. But regional differences are wreaking havoc Continue Reading
U.S. and Brent crude part ways, leaving market flummoxed over oil prices
NEW YORK/LONDON (Reuters) – Global oil markets have been roiled by a surprising divergence between the world’s major benchmarks, Brent crude and its U.S. counterpart, which in recent days have Continue Reading
Oil prices spreading apart, mirroring global rifts
Benchmark indices for oil were in a widespread Thursday as U.S. oil inventories swell and global economic pressures intensify on the back of tariff concerns. U.S. President Donald Trump is Continue Reading
U.S. crude tumbles, widening Brent’s premium to 3-year high
U.S. oil fell nearly 2 percent on Thursday, despite a larger-than-expected decline in U.S. crude inventories, while global benchmark Brent was little changed, pushing the spread between the two to Continue Reading
Oil prices won’t keep plunging because US drillers can’t meet demand, analysts say
U.S. crude prices sank on Thursday after a brief rally in the previous session, but analysts say the recent slump in oil prices won’t last much longer. In the five Continue Reading
Reuters: OPEC Production Falls To 13-Month Low
OPEC’s oil production dropped in May by 70,000 bpd to 32.00 million bpd on the back of outages in Nigeria and a continuous decline in Venezuela that dragged the cartel’s Continue Reading
In an era of strongman politics, oil’s rally still speaks loudest
As Opec and Russia prepare to meet in Vienna next month to discuss raising oil output, three strongman leaders will loom over proceedings. Russian president Vladimir Putin, Saudi Arabia’s crown Continue Reading
Iran wants sanctions considerations at OPEC
OPEC members at their next regular meeting in June should prioritize measures aimed at protecting members targeted by sanctions, Iran’s oil minister said. The Iranian government is busy courting European, Continue Reading
Iran Asks OPEC For Support Against U.S. Sanctions
Iran is seeking support from fellow OPEC members against the returning U.S. sanctions and wants the issue on the agenda at the Vienna meeting in June, Iranian Oil Minister Bijan Continue Reading
Iran would exit OPEC deal if US sanctions cut its oil output: Zanganeh
Iran is taking a firm line with its OPEC counterparts that could threaten the current 24-country crude producer alliance, warning members not to take its market share it risks losing Continue Reading
Iran Shouldn’t Count On OPEC For A Bailout
Over the past few weeks, Iran has repeatedly sought (even demanded) EU support to offset renewed U.S. sanctions that will be imposed on the oil producing country. In fact, not Continue Reading
Is A Natural Gas Pipeline Between Alaska And China Realistic?
When Alaska’s governor Bill Walker headed with a trade delegation to China earlier this week, he must have hoped to bring back good news about an 800-mile gas pipeline project Continue Reading
Equatorial Guinea LNG project stumbles as Schlumberger quits
A pioneering liquefied natural gas project in Equatorial Guinea bogged down by delayed financing, ran into further trouble after U.S. oil services company Schlumberger pulled out of the venture, two Continue Reading
Is socialism to blame for Venezuela’s never-ending crisis?
Is socialism to blame for Venezuela’s never-ending crisis? Venezuela’s recent presidential election has done nothing to end the country’s profound political, economic, and social crisis. Inflation is spiralling out of Continue Reading
Brazil returns to normal as oil strike, trucker protests wind down
Brazil showed signs of returning to normal on Thursday as an oil workers union ended a strike ahead of schedule and an 11-day trucker protest wound down, a welcome breather Continue Reading
Brazil’s Oil Cargo Tender Falls Through With No Bids
Brazil received no bids in the first tender for a total 1.63 million barrels of crude extracted from the prolific pre-salt zone, Reuters reports . The state received the oil Continue Reading
Shale’s surge crashes into bottlenecks from pipelines to ports
The U.S. shale surge is crashing headlong into a barrage of bottlenecks. From West Texas pipelines to Oklahoma storage centers and Gulf Coast export terminals, the delivery system for American Continue Reading
U.S. oil output jumps to record 10.47 million barrels per day in March: EIA
U.S. crude oil production jumped 215,000 barrels per day (bpd) to 10.47 million bpd in March, the highest on record, the Energy Information Administration (EIA) said in a monthly report Continue Reading
U.S. spending driven by higher gas prices
The U.S. federal government reported Thursday that spending on gasoline and other energy products contributed most to a rise in consumer spending. The U.S. Commerce Department reported personal income improved Continue Reading
HRW: Lawsuits muzzling free speech in the environmental community
Human Rights Watch said Thursday it was worried that lawsuits meant to muzzle environmental advocacy groups were inhibiting free speech. A lawsuit filed by Canadian logging company Resolute Forest Products Continue Reading
Electric vehicle market exposed to risk from violence
The global electric vehicle market is expanding, but the supporting metals and refining markets are exposed to risk, an IEA report found. A report from the International Energy Agency on Continue Reading
Shell brings new partner behind Canadian LNG plans
Shell’s subsidiary in Canada said a transaction that gives Malaysian energy company PETRONAS a stake in a planned LNG facility isn’t a statement on timing. Shell and its equity partners Continue Reading
SoftBank Tech Fund to Invest $2.25 Billion in GM’s Self-Driving Unit
SoftBank Vision Fund will invest $2.25 billion in General Motors Co.’s driverless-car unit, as the auto maker battles technology companies and startups in a race to commercialize autonomous vehicles. GM Continue Reading
Alphabet’s Waymo Unit to Buy Up to 62,000 Chrysler Minivans for Driverless Program
Waymo LLC plans to dramatically increase the number of driverless vehicles it has on the road in the coming years, announcing Thursday a deal to buy as many as 62,000 Continue Reading
U.S. EPA grants refiners biofuel credits to remedy Obama-era waiver denials
The U.S. Environmental Protection Agency has awarded tens of millions of dollars worth of biofuel blending credits for this year to refiners HollyFrontier and Sinclair Oil after they argued the Continue Reading
E.P.A. Takes a Major Step to Roll Back Clean Car Rules
The Trump administration took a major step toward dramatically weakening an Obama-era rule designed to cut pollution from vehicle tailpipes, setting the stage for a legal clash with California that Continue Reading