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Month: October 2018

Category:
  • Prices

Crude oil futures retrace losses after sharp overnight decline

Crude oil futures retraced losses in mid-morning trade in Asia Wednesday following a sharp overnight decline, though the near-term outlook remains volatile. Receive daily email alerts, subscriber notes & personalize Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

Oil rises 1 percent ahead of Iran sanctions

Oil prices climbed for the first time in three days on Wednesday, rising around 1 percent ahead of the start of U.S. sanctions against Iran next week and as stock Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

Oil prices fall as economic outlook deteriorates: Kemp

Global economic momentum is decelerating, according to a broad range of financial and real-economy indicators, which is weighing on worldwide equity markets and oil prices. The depth and duration of Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

High Oil Prices Are Already Destroying Demand

Crude oil prices have gone up high enough to begin hurting demand for the commodity, the chief of the International Energy Agency, Fatih Birol, said as quoted by Reuters on Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

Oil price drop gives breathing room but market not out of woods yet: IEA’s Birol

The recent drop in oil prices by around $10/b is a welcome change and gives breathing room to oil consumers, but the market is not out of the woods yet Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Transportation

Maritime rule change stirs fears of diesel shortage: Kemp

The International Maritime Organization (IMO) has so far resisted pressure to soften or postpone the implementation of new regulations requiring ships to use bunker fuels with a lower sulfur content Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Iran
  • Iraq

Iraq To Stop Oil Exports To Iran In Compliance With U.S. Sanctions

With a week to go until U.S. sanctions on Iran’s oil snap back, it’s not only Iranian crude exports that the United States looks to cut. Iran’s neighbor Iraq currently Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Libya

Libya restarts eastern al-Bayda oilfield: engineer

Libya has restarted the eastern al-Bayda oilfield, a field engineer said late on Tuesday, the latest operation in the so-called Oil Crescent region to resume work after heavy fighting in Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Iran

Will Iran’s Oil Exports Fall To Zero?

The deadline for implementation of U.S. sanctions on Iran is just days away, and the Trump administration is having second thoughts about how hard to press the Islamic Republic. More Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Iran
  • Russia

Can Russia Relieve The Iranian Oil Crisis?

Charles de Gaulle once said: “no nation has friends, only interests.” Cooperation between Russia and Iran has been increasing over the years. The countries are drifting towards each other due Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Turkey

Turkish ship to drill for oil and gas in Mediterranean: minister

A Turkish ship will start drilling for oil and gas in the Mediterranean on Wednesday, Energy Minister Fatih Donmez said, a move that could create tensions with neighboring Cyprus and Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Air Quality
  • India

As World’s Air Gets Worse, India Struggles to Breathe

A toxic fog is creeping over New Delhi. Children trudge to school with plastic masks strapped to their faces. Sports events are canceled. Eyes burn. Throats itch. Chests heave. It’s Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Venezuela

Thousands of Venezuelans head to Peru to beat residency deadline

At least 6,000 Venezuelans lined up at Peru’s northern border on Tuesday in hopes of entering the country before a deadline for acquiring residency, and another 4,000 were due to Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela Makes Payment on Citgo-Backed Bond

Oil exports make up 95% of Venezuela’s dollar earnings, and production has been falling off in large part due to a lack of access to capital. “The reason they’ve paid Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Brazil
  • Climate

Brazil: Bolsonaro plans threaten Amazon, say experts

Brazil’s highly biodiverse Cerrado is being destroyed for soybean production, conservationists say Brazil’s far-right President-elect Jair Bolsonaro will merge the ministries of agriculture and the environment, an aide says, in Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Mexico

Pemex refineries running at record-low levels in the second week of October

Pemex’s total refining utilization rate during the third week of October has reached a record low of 25.7%, an operation report from the Mexican state company showed Tuesday.  The company Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • China

New China Manufacturing Data Adds to Mounting Worries About Economy

Though readings above 50 still indicate an expansion in activity, the fall was more precipitous than economists projected, with the October reading at the lowest since July 2016. “Overall, the Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • China

Chinese Banks Can’t Escape the Country’s Gloom for Long

The dissonance gives rise to the perennial question about the believability of Chinese banks’ financial reports. The recent earnings improvement does look plausible. The central bank’s recent easing of liquidity Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Asia
  • Coal

New Asian coal plants knock climate goals off course

A fleet of new coal plants in Asia threatening to derail global emissions targets has exposed the growing “disconnect” between energy markets and climate goals. Fatih Birol, head of the Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • China
  • Phillipines

Philippines Gas Crunch Forces Uneasy Alliance With China

The Philippines said today that the country had short listed three different groups to build and operate its first liquefied natural gas (LNG) import terminal and hopes to choose one Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Electric Cars
  • South Korea

Kia and Hyundai to introduce solar roof charging on selected vehicles: HEV, BEV and ICE

Kia Motors and Hyundai Motor plan to introduce solar roof charging technology on selected Hyundai Motor Group vehicles. Electricity-generating solar panels will be incorporated into the roof or the hood Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Renewables

Modelling a future fuelled by sustainable energy

University of Adelaide economists have modelled the transition from a world powered by fossil fuels to one in which sustainable sources supply all our energy needs. Dr Raul Barreto, Senior Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • exports
  • USA

Rising U.S. crude output sparks race to build export terminals

A high-stakes competition is emerging among energy exporters proposing multi-million-dollar crude terminals along the U.S. Gulf Coast to handle a gusher of shale oil coming from West Texas oilfields. On Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

U.S. fuel prices keep dropping, analysts disagree on when trend will reverse

The AAA auto driver club forecasts that recent declines in gasoline prices to a national average of $2.82 per gallon will be short-lived and projected rises as soon as later Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • LNG
  • USA

Trade War Puts The Brakes On U.S. LNG Dominance

The U.S.-China trade war is throwing off a new liquefied natural gas production plant in North America, as LNG Ltd. loses Chinese customers. Australia-based LNG Ltd. saw its share prices Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

Cold Snap Could Send Natural Gas To $5

The natural gas market is looking rather tight, even as U.S. production continues to set new records. Inventories fell sharply last winter, leaving the country a little light on stocks Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Autonomous Cars

Waymo granted permit to test fully driverless cars in California

Alphabet’s Waymo has been granted California’s first permit to test fully driverless vehicles on public roads as it races towards commercialising autonomous technology. The permit from the state’s Department of Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • USA

Dollar at 16-month high as strong U.S. data supports

The dollar rose to a 16-month high against a basket of major currencies on Tuesday, amid growing signs the United States economy is outperforming its peers.  The dollar index, which Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Shale Oil

Continental Resources doubles estimate for Bakken oil recovery

 Continental Resources, the largest oil producer in North Dakota, has doubled its Bakken oil recovery estimates, claiming that as much as 40 billion barrels of crude may ultimately produced from Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Shale Oil

Shale oil becomes shale fail (and a nice subsidy for consumers)

I’m tempted to say the following to the writers of two recent pieces ( here and here ) outlining the continuing negative free cash flow of companies fracking for oil Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Climate
  • Italy

Venice Flooding Is Worst in a Decade; Severe Weather in Italy Kills at Least 11

Violent thunderstorms, small tornadoes that blew roofs off homes, and winds equivalent to a Category 3 hurricane lashed Italy from Piedmont to Sicily early this week, leaving at least 11 Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • International Oil Companies
  • Shale Oil

BP’s oil and gas output flat in Q3 but BHP assets set to drive volumes in Q4

BP’s oil and gas production growth stalled in the third quarter but the company said Tuesday it expects upstream growth to resume withing days after closing its $10.5 billion acquisition Continue Reading

Posted On : 31 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

Crude lower amid indicators of higher supply

 Crude oil futures were lower during mid-morning trade in Asia Tuesday amid indicators of a potential increase in global supply.  At 10:34 am Singapore time (0234 GMT), December ICE Brent Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Oil Supply

Big Oil Won’t Spend Despite Fat Profits

Higher oil prices are expected to leave the oil industry flush with cash, but the “capital discipline” mantra remains. Market watchers have wondered whether top oil executives would eschew with Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

Oil prices slip on rising supply, trade tensions

Oil prices slipped on Tuesday, depressed by concerns that the U.S.-China trade dispute will dent economic growth and by signs of rising global supply despite upcoming sanctions against Iran.  Benchmark Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

Oil dips as Russia signals output will stay high

 Oil prices edged lower on Monday, with futures on track for the worst monthly performance since mid-2016, after Russia signaled that output will remain high and as concern over the Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • IEA
  • Prices

High oil prices hurt consumers, dent fuel demand: IEA chief

High oil prices are hurting consumers and could also have adverse implications for producers, the executive director of the International Energy Agency (IEA) said on Tuesday.  Major emerging Asian economies Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Iran

Trump’s sanctions on Iran tested by oil-thirsty China, India

Shortly after U.S. President Donald Trump announced in May he would reimpose sanctions on Iran, the State Department began telling countries around the world the clock was ticking for them Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

Under the radar: Iran’s oil exports harder to track as sanctions loom

According to Saudi Energy Minister Khalid al-Falih, no one has any idea how much oil Iran will be able to export after new U.S. sanctions against the Islamic Republic kick Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Prices

Under the radar: Iran’s oil exports harder to track as sanctions loom

According to Saudi Energy Minister Khalid al-Falih, no one has any idea how much oil Iran will be able to export after new U.S. sanctions against the Islamic Republic kick Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Russia
  • Saudi Arabia

$5 Billion Saudi LNG Investment Plays Into Russia’s Hands

Depending on who you ask, energy markets would likely be better off without more Saudi-Russia oil and gas cooperation, which will amount to greater clout in the Middle East as Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Iran
  • Iraq

Iraq Expects Exemption From U.S. Sanctions Against Iran

Iraq should be exempted from U.S. sanctions against Iran because of the heavy reliance of the former on the latter for gas and electricity supplies, a senior Iraqi official told Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Iran

Iran Sells First 280,000 Barrels Of Crude On Exchange

A little over a quarter of a one-million-barrel offering of Iranian crude on the local energy exchange found buyers in the first day of trading, IRNA reports , as Iran Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Iran

Rouhani Replaces Key Economic Officials Ahead Of Sanctions

Iran’s president Hassan Rouhani has replaced several senior economic officials a week before U.S. sanctions against Tehran come into effect, Sputnik reports , citing a statement by Rouhani from Sunday. Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Iran

Iran’s Worst Nightmare Is Coming True

In what must seem like a nightmare scenario for Iran, not only is another U.S. president leveling sanctions against its economy, and particularly that economy’s lifeblood, its oil sector, but Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Europe
  • Iran

EU Struggles To Create Iran Oil Trade Payment Vehicle

Although the European Union (EU) has vowed to create a special purpose vehicle to continue trade with Iran after the U.S. sanctions on Tehran’s oil return next week, the bloc Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria: NNPC, Oil Companies Yet to Remit $22bn Oil Revenue to Federation Account

A total of $22.06 billion and N481.75 billion oil and gas revenues are yet to be remitted to the federation account by the Nigeria National Petroleum Corporation (NNPC), the Nigeria Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria Emerges 2nd After China in Global Refinery Capacity

A new report by GlobalData, a data and analytics company has said that effort by Nigeria to revive its ailing refineries alongside other upcoming private refinery projects will place the Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Angola

Can Angola Overhaul Its Struggling Oil Industry?

It is quite rare for African national oil companies (NOCs) to liberalize, especially in countries that are heavily dependent on oil revenues. Yet Angola, whose stability was sent reeling by Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple
Category:
  • Pakistan

The mega-dam being crowdfunded by Pakistan’s top judge

The proposed site of the Diamer-Bhasha dam in Gilgit-Baltistan Cash-poor Pakistan is crowdfunding a drive to collect almost $17bn from its citizens, officials, businesses and stars in order to build Continue Reading

Posted On : 30 Oct 2018 Published By : Tom Whipple

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