Analysis: China LNG demand growth to slow in 2019
Singapore — China LNG demand is expected to rise further this year in line with its industrial and residential gas use, but the pace of that growth is set to Continue Reading
Exxon, Chevron fourth-quarter profits lifted by U.S. shale gains
Exxon Mobil Corp and Chevron Corp, two of the world’s largest oil producers, on Friday posted improved quarterly earnings that benefited from double-digit percentage increases in production from the top Continue Reading
A climate problem even California can’t fix: tailpipe pollution
For three decades, California has led the fight to control tailpipe pollution, with countless policies promoting cleaner gasoline, carpooling, public transportation and its signature strategy – the electric vehicle. Californians Continue Reading
Gone in a Generation
Across America, climate change is already disrupting lives. The continental United States is 1.8 degrees Fahrenheit warmer than it was a century ago. Seas at the coasts are nine inches Continue Reading
ExxonMobil Leads In Exploration Successes In 2018
Driven by its significant investment in Guyana, ExxonMobil is leader of the pack among the top oil and gas explorers of 2018, according to Rystad Energy’s annual exploration review. “ExxonMobil Continue Reading
Australia’s rolling blackouts may provide lessons for Texas grid operator
Troubles in an Australian power grid facing record summer heat may provide a cautionary tale for the Electric Reliability Council of Texas as it faces a high probability of a Continue Reading
Alberta Amends Oil Curtailment to Pacify Companies
Alberta is gradually chipping away at its own oil curtailment program to placate energy companies that have grown unhappy with the mandated cuts. The oil-rich Canadian province amended the curtailment Continue Reading
US Drops 15 Oil Rigs
The nation’s rig count saw a decline this week of 15 oil rigs. The U.S. dropped 15 oil rigs and added one gas rig this week for a net loss Continue Reading
Permian Boosts ExxonMobil, Chevron Earnings
Soaring production in North America’s most prolific oil field helped propel Exxon Mobil Corp. and Chevron Corp. to bigger-than-expected fourth-quarter profits. Shares for both explorers were among the day’s best-performing Continue Reading
Imperial Oil Rolls Back U.S.-Bound Exports, Citing Surge in Cost
Exxon Mobil Corp.’s Canadian unit Imperial Oil Ltd. is scaling back the amount of U.S.-bound oil it ships by rail from the province of Alberta to nearly zero this month. Continue Reading
Experts do not foresee coal M&A, capex in 2019; sector, banks wary of investment
While US coal producers are hesitant to invest in new capacity at the moment, several industry professionals said at a recent energy event that they do not foresee widespread consolidation Continue Reading
UC Santa Cruz prof suggests self-driving cars will torpedo parking pricing as effective congestion management policy; “incentive to create havoc”
With no need to park, autonomous vehicles (AVs) will clog city streets and slow traffic to a crawl, according to a new paper by University of Santa Cruz transportation planner Continue Reading
Exclusive: Delta trying to unload East Coast refinery – sources
NEW YORK (Reuters) – Delta Air Lines wants to sell its oil refinery in Trainer, Pennsylvania, after attempts to offer a partial stake in the plant late last year failed, Continue Reading
Shell open to carmaker partners in EV charging expansion
Shell is open to partnerships with carmakers to expand electric vehicle (EV) charging beyond its petrol stations, one of the oil major’s executives said on Friday. As part of efforts Continue Reading
BP to be more transparent about climate efforts amid investor concerns
BP on Friday announced it has accepted one of two shareholder proposals for greater transparency of the company’s efforts to combat climate change. Photo courtesy of BP Feb. 1 (UPI) Continue Reading
Russian oil output down in January, misses global deal target
Russian oil output declined to 11.38 million barrels per day (bpd) in January, or by around 35,000 bpd from the October 2018 level, the baseline for the global oil accord, Continue Reading
Directly-cooled lighter-weight EV motor made with polymer housing
Researchers at the Fraunhofer Institute for Chemical Technology ICT are working together with the Karlsruhe Institute of Technology KIT to develop a new cooling concept that will enable polymers to Continue Reading
Crude oil futures rise on global supply concerns; ICE Brent up at $61.98/b, NYMEX WTI $53.87/b
Crude oil futures were higher during morning trade in Europe Wednesday on supply concerns stemming from US sanctions on Venezuela’s oil sector, sliding Iranian oil exports, and production cuts by Continue Reading
Global Outages Boost Oil Prices
Oil prices are on track for strong gains this week, and the price increases are not only the result of the crisis in Venezuela. The oil market received a boost Continue Reading
Oil prices buoyed by trade talk hopes, but pressured by weak China data
Oil prices edged up on Friday amid hopes the United States and China could soon settle their trade disputes, although data from China stoked concerns over an economic slowdown that Continue Reading
IEA: Greater use of rail would save energy, lower emissions
While rising incomes in developing economies create stronger transportation demand — where the need for flexibility tends to favor car and air travel — increased railway use would save energy, Continue Reading
Saudi Arabia Pitches for Foreign Cash After Spooking Investors
Saudi Arabia has stepped up efforts to woo investors spooked by the killing of dissident journalist Jamal Khashoggi, as it seeks more than $426 billion in private capital to help Continue Reading
What’s Behind Saudi Arabia’s New Downstream Strategy?
Saudi Aramco, the world’s wealthiest albeit state-owned oil company, continues to diversify in downstream investments. On Monday, the storied oil major said it planned to invest up to $1.6 bn Continue Reading
Libya Earmarks $50B To Boost Oil Production
The state-held National Oil Corporation (NOC) of Libya has a budget of US$50 billion to invest in its oil and gas sector this year, as it looks to overcome safety Continue Reading
UAE Sets Record For Largest ‘Virtual’ Battery
The United Arab Emirates have a reputation for innovative investments, so it was only a matter of time—and after a recovery in oil prices—before the Gulf state started making headlines Continue Reading
Europe Sets Up Payment Vehicle For Iran Trade To Sidestep U.S. Sanctions
After months of deliberations, European countries have set up the special payment channel to handle trade with Iran that would allow transactions with Iran, including oil, as the European Union Continue Reading
Iran Oil Exports To Asia Slump To 3-Year Low
Crude oil exports from Iran to its four largest buyers in Asia fell to a three-year low last year because of the reinstatement of U.S. sanctions against Tehran in November, Continue Reading
Iraq To Boost Majnoon Field Production To 450,000 Bpd
Basra Oil Co,. the state-owned operator of the huge Majnoon field in Iraq, plans to boost production from it to 450,000 bpd by 2021 by drilling 40 new wells, Reuters Continue Reading
Kirkuk oil smuggling rings thrive amidst corruption
Authorities in the Iraqi government and the autonomous Kurdistan region are struggling to address the worsening problem of endemic smuggling from Kirkuk oil fields, where thousands of barrels are stolen Continue Reading
Nigeria: 30 Fuel Vessels, Others Stuck On Lagos High Sea
The Nigerian Customs Service (NCS) cumbersome documentation process may have delayed about 25 vessels currently stuck on the Lagos high sea, laden with petroleum products, and other goods waiting to Continue Reading
U.S. imposes sanctions on Venezuelan state oil firm PDVSA
The Trump administration on Monday imposed sweeping sanctions on Venezuelan state-owned oil firm PDVSA, the toughest U.S. financial measure so far against Venezuelan President Nicolas Maduro. The sanctions were announced Continue Reading
Venezuela’s Guaido orders new boards for PDVSA, Citgo
Venezuelan opposition leader and self-proclaimed president Juan Guaido said on Monday he has ordered congress to begin the process of naming new boards of directors to state oil company PDVSA Continue Reading
U.S. to Sanction Venezuela’s State-Owned Oil Giant
The U.S. imposed sanctions against Venezuela’s state-oil giant Petróleos de Venezuela S.A. on Monday in an effort to cripple President Nicolás Maduro’s government and empower an opposition leader. President Trump’s Continue Reading
Trump Administration Announces New Sanctions on Venezuela
The Trump administration on Monday announced it would impose sanctions on Venezuela’s state-owned oil monopoly, the most aggressive move to date in President Trump’s challenge to Nicolás Maduro, the president Continue Reading
Exclusive: Venezuela plans to fly central bank gold reserves to UAE – source
Venezuela will sell 15 tonnes of gold from central bank vaults to the United Arab Emirates in coming days in return for euros in cash, a senior official with knowledge Continue Reading
Mexico Cut Off U.S. Oil Imports as Fuel Ran Low
Mexico has stopped buying U.S. light crude oil under its new president, a decision that former government officials say has likely aggravated the country’s gasoline shortage crisis. President Andrés Manuel Continue Reading
Venezuela’s Citgo Weighs Bankruptcy, Other Options
Treasury Secretary Steven Mnuchin outlined new U.S. sanctions against Venezuela’s state oil giant Petroleos de Venezuela S.A. on Monday, in a move to cripple Nicolás Maduro’s government and empower opposition Continue Reading
Venezuela Opposition Leader Outlines Plan to Revive Nation
Juan Guaidó, the 35-year-old opposition leader recognized by Washington as Venezuela’s rightful leader, laid out a plan Thursday to reverse President Nicolás Maduro’s economic polices and address Latin America’s worst Continue Reading
PetroChina To Dump Venezuela’s PDVSA As Partner In $10B Refinery Project
PetroChina is looking to drop Venezuela’s state-owned oil firm PDVSA as an equity partner in a planned and long-delayed US$10-billion oil refinery and petrochemical complex in southern China, Reuters reported Continue Reading
Maduro Signals Readiness To Negotiate With Venezuela Opposition
A week after opposition leader Juan Guaidó declared himself interim president of Venezuela, Nicolas Maduro signaled that he was willing to negotiate with the opposition. “I’m willing to sit down Continue Reading
IEA Yet To Assess Impact Of U.S. Sanctions On Venezuela’s Oil
It is too early to quantify the impact of the latest U.S. sanctions on Venezuela’s oil industry and exports, Fatih Birol, the Executive Director of the International Energy Agency (IEA), Continue Reading
Russia Vows To Defend Its Venezuelan Oil Assets
Russia, which stands by Nicolas Maduro in the ongoing Venezuelan political crisis, will use “all available legal mechanisms” to defend its interests in the Latin American country, in which Russian Continue Reading
What’s Behind The Sudden Rise In Chinese Oil Demand?
China’s crude oil demand has picked up this month, as independent refiners are looking to buy more crude for March and April delivery to restock supplies while oil prices are Continue Reading
Drill, China, drill: State majors step on the gas after Xi calls for energy security
China’s state energy giants are set to raise spending on domestic drilling this year to the highest levels since 2016, focusing on adding natural gas reserves in a concerted drive Continue Reading
USW union, Shell agree to raise refinery worker pay by 11 percent: sources
The United Steelworkers union (USW) and Shell Oil Co reached a tentative agreement on Thursday that sources familiar with the deal said would boost pay by 11 percent over three Continue Reading
The Next Big Threat For Oil Comes From China
There is a widespread concern in the world regarding China’s decelerating economic growth. The slowdown, if it continues, threatens economic activity almost everywhere. Growth in Germany, for example, has already Continue Reading
Chinese independent refiners’ Jan crude oil imports fall 8.7% on month to 11.5 mil mt
Crude oil imports for China’s independent refineries in January eased 8.7% month on month to 11.52 million mt, or 2.72 million b/d, a monthly survey by S&P Global Platts showed Continue Reading
Japan team evaluates battery-assisted low-cost hydrogen production from solar energy
Researchers from Japan’s NIMS (National Institute for Materials Science), the University of Tokyo and Hiroshima University have jointly conducted a techno-economic analysis for hydrogen production from photovoltaic power generation (PV) Continue Reading
Senate Democrats Seek Better Oversight of Financial Sector’s Climate Risks
Some Senate Democrats want U.S. regulators to assess banks’ and other financial institutions’ preparedness for climate change. Led by Sen. Brian Schatz of Hawaii, the group of 20 senators—19 Democrats Continue Reading
Is The Permian Bull Run Coming To An End?
The bad news coming out of the shale oil fields of America could all be put down to slumping oil prices. That is certainly a big factor. But as investment Continue Reading