Why Elon Musk Is Wrong About Hydrogen
Elon Musk was right about one thing: electric passenger cars will be beating hydrogen fuel cell cars. But what about trucking and power plants? Things are looking good for Nikola Continue Reading
China’s Newest Oil Hotspot Is In America’s Backyard
Chinese state-run news agency Xinhua said on Tuesda y that an affiliate of Chinese oil major CNPC, Great Wall Drilling, was drilling for oil off Cuba’s coast as part of Continue Reading
U.S. oil drillers cut rigs for first week in three: Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country’s largest oil fields, Continue Reading
Schlumberger says US shale boom slowing
Investment in the US shale oil industry continues to fall, production growth is slowing and the balance of spending is shifting to other parts of the world, the oilfield services Continue Reading
It’s been exceptionally warm in Greenland lately and ice is melting a month early
Warmth over Greenland is highlighted in a daily analysis from mid-April. (ClimateReanalyzer.org) You might have heard about the exceptional heat this year in the northern hemisphere and around the world. Continue Reading
Sharp Drop In U.S. Rig Count Marks First Yearly Loss Since 2016
The the number of active oil and gas rigs fell sharply in the United States this week according to Baker Hughes, bringing the overall rig count below year-ago levels in Continue Reading
Ocasio-Cortez Releases Puzzling Green New Deal Video
Congresswoman Alexandria Ocasio-Cortez yesterday released a cartoon video with an overview of the Green New Deal she spearheaded in Congress in a bid to arrest the progress of what she Continue Reading
New Alberta Premier Directly Threatens B.C. Over Pipelines
Alberta’s new Premier-designate Jason Kenney has wasted no time in launching his energy agenda: he plans to address British Columbia’s opposition to oil pipeline projects by threatening to turn off Continue Reading
Record 2018 US natural gas demand largely driven by power demand: FERC
US natural gas and power markets experienced higher average prices in 2018, while gas markets had record high demand and supply, and power generation capacity additions were led by gas-fired Continue Reading
US total oil, gas rig count falls by 14 on week to 1,076: S&P Global Platts Analytics
The US total oil and natural gas rig count fell by 14 week on week to 1,076, according to S&P Global Platts Analytics, continuing a recent see-saw despite domestic oil Continue Reading
Permian Drilling Record Reported
A unit of Surge Energy US Holdings Co. has reportedly drilled a record-setting lateral in the Permian Basin. Moss Creek Resources Holdings, Inc., a unit of Surge Energy US Holdings Continue Reading
LNG Approvals Boost America’s Export Outlook
America is set to become an even bigger player in the global liquefied natural gas market after the nation’s top regulator approved two more projects to export the super-chilled fuel. Continue Reading
Schlumberger Looks Overseas for Offshore, Exploration Growth
The company sees growth in the shallow-water markets, followed by an expansion in deepwater spend in 2020. (Bloomberg) — Schlumberger Ltd. said parts of its international business are finally starting Continue Reading
U.S. oil drillers cut rigs for first week in three: Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country’s largest oil fields, Continue Reading
Schlumberger posts profit drop, sees international spending rising
Oilfield services provider Schlumberger NV on Thursday forecast rising international and offshore exploration spending this year, after posting a 20 percent drop in first-quarter profit due to weak North American Continue Reading
The Undeniable Signs Of A Shale Slowdown
The world’s largest oilfield services company said its earnings were hit in the first quarter because of a slowdown in shale drilling activity. “First-quarter revenue of $7.9 billion declined 4% Continue Reading
U.S. Greenlights Two Major LNG Export Projects
The U.S. Federal Energy Regulatory Commission (FERC) approved on Thursday two liquefied natural gas (LNG) projects that will add to the growing U.S. export capacity of the super-chilled fuel. FERC Continue Reading
U.S. Gulf Coast Crude Oil Imports Hit Lowest In Three Decades
Imports of crude oil to the U.S. Gulf Coast dived to their lowest level in almost three decades last week, due to OPEC’s production cuts, unusually low Iraqi shipments, and Continue Reading
US Gas Export Clout Set to Grow
America is set to become an even bigger player in the global liquefied natural gas market after the nation’s top regulator approved two more projects to export the super-chilled fuel. Continue Reading
Climate-Change Protests Disrupt London for Fourth Day, 400 Arrested
Climate-change protesters disrupted central London for a fourth straight day, continuing demonstrations that have seen activists inundate several of the capital’s landmarks and more than 400 people arrested. Extinction Rebellion, Continue Reading
ConocoPhillips to Shed U.K. Oil Exploration Business
ConocoPhillips is exiting the oil exploration and production market in the U.K., the latest move by the company to refocus its portfolio. The company said Thursday it reached a deal Continue Reading
Climate change protesters block access to French multinationals
Climate activists blocked hundreds of employees from entering the headquarters of French bank Societe Generale, state-run utility EDF and oil giant Total on Friday, environmental group Greenpeace said. Greenpeace said Continue Reading
U.S. is brazenly meddling in Nord Stream 2 gas project: Russia
Foreign Minister Sergei Lavrov accused the United States on Friday of brazenly meddling in Russia’s Nord Stream 2 gas pipeline project. The Nord Stream 2 project, which aims to pump Continue Reading
Oil rises on tightening supplies; ample U.S. output caps gains
Oil prices edged higher on Wednesday, supported by ongoing OPEC-led supply cuts and a surprise fall in U.S. crude inventories, although gains were capped by strong U.S. production. Brent crude Continue Reading
Oil Rebounds On Bullish Inventory Data
Crude oil prices inched higher after the Energy Information Administration today reported a 1.4-million-barrel crude draw, accompanied by a draw in gasoline stockpiles. These, according to the authority, shed 1.2 Continue Reading
Oil settles lower as U.S. inventories disappoint market
Crude prices declined slightly on Wednesday as U.S. government data showed inventories drew down less than an industry report had suggested on Tuesday. Brent crude rallied to its highest level Continue Reading
Satellite confirms key NASA temperature data: The planet is warming — and fast
A high-profile NASA temperature data set, which has pronounced the last five years the hottest on record and the globe a full degree Celsius warmer than in the late 1800s, Continue Reading
Hundreds Dead, Injured As Fighting Escalates In Oil-Rich Libya
Since eastern strongman General Khalifa Haftar ordered his self-styled Libyan National Army (LNA) to march on Tripoli, almost 180 people have died and 800 others have been wounded in the Continue Reading
Egypt’s Huge Fuel Subsidy Cuts Could Spark Protests
Egypt plans to slash fuel and electricity subsidies in its 2019/2020 financial year, the finance ministry’s draft budget shows, but raising fuel prices closer to international levels could turn out Continue Reading
Why Aramco Wants In On India’s Largest Refining Company
Saudi Arabia’s oil giant Aramco is in “serious discussions” to buy up to 25 percent of the refining and petrochemicals businesses of India’s largest company, Reliance Industries, The Times of Continue Reading
Iranian Oil Exports Drop As Waiver Expiry Draws Near
Iranian oil exports have dropped this month as waivers are soon set to expire, Refinitiv Eikon and tanker tracking data showed, according to Reuters. The United States is set to Continue Reading
Floods in Iran force minor shut-in of production at West Karun oil fields
Heavy crude production in Iran’s flooded West Karun oil fields has dropped by about 10,000 b/d to 20,000 b/d, the state-run company in charge of the operations said Wednesday, according Continue Reading
Libya’s Fragile Oil Renaissance Is Under Threat
Libya’s oil production has yet to suffer disruptions, even as oil prices have climbed on fears of potential outages. However, the longer fighting drags on, the more likely Libya’s oil Continue Reading
Kuwait Could Add 400,000 Bpd Heavy Oil Output By January 2020
Kuwait will start this year the first phase of a heavy oil field production, aiming to boost heavy crude output to 430,000 bpd from 60,000 bpd by January, the official Continue Reading
How Low Can It Go? Angola’s Oil Exports To Hit Decade Low In June
Production outages and maintenance are set to push Angola’s oil exports to a 13-year low, according to an industry source quoted by Reuters. There are just 38 oil cargoes scheduled Continue Reading
The Giant Floating LNG Project You’ve Never Heard Of
One of Africa’s brightest LNG prospects, Tortue FLNG is edging increasingly closer to its estimated commissioning date, 2022. It is one of the largest deepwater gas find of recent years Continue Reading
U.S. slaps new sanctions on Cuba and Venezuela to pressure Maduro
The Trump administration on Wednesday imposed new sanctions and other punitive measures on Cuba and Venezuela, seeking to ratchet up U.S. pressure on Havana to end its support for Venezuela’s Continue Reading
Exclusive: Spain’s Repsol suspends swap deal for Venezuelan oil under U.S. pressure
Spain’s Repsol has suspended its swaps of refined products for crude with Venezuela’s state-run oil company PDVSA, people familiar with the matter said, as U.S. officials weigh penalties for foreign Continue Reading
Foreign Carmakers Fight Uphill Battle Against Chinese EV Giants
With China’s notoriety as the world’s largest electric-vehicle market, it’s hardly any wonder that all international carmakers are vying for a piece of the EV pie that is only going Continue Reading
Californians Paying Most Expensive Pump Prices in Five Years
Pump prices have spiked in California as unexpected and planned maintenance and the switchover to more-expensive summer blend gasoline continues, ultimately increasing the national average. Out of California’s 10 refineries, Continue Reading
U.S. crude stockpiles drop unexpectedly last week: EIA
U.S. crude oil stockpiles fell unexpectedly last week as imports dropped, while gasoline and distillate inventories decreased less than forecasts, the Energy Information Administration said on Wednesday. Crude inventories fell Continue Reading
Summary of Weekly Petroleum Data for the week ending April 12, 2019
U.S. crude oil refinery inputs averaged 16.1 million barrels per day during the week ending April 12, 2019, which was 22,000 barrels per day less than the previous week’s average. Continue Reading
U.S. Shale Is Upending Crude Flows In This Oil Frontier
The U.S. shale boom is upending global oil markets as far as crude flows from West Africa to Europe and other parts of the world, and is squeezing in particular Continue Reading
Texas Has A New Favorite Energy Source
Wind power capacity in the U.S. increased by 8 percent last year, soaring to an impressive cumulative total of 96.5 gigawatts (GW), the American Wind Energy Association (AWEA) said in Continue Reading
Oil Industry Relieved After Major Conservative Win In Alberta
The United Conservative Party won the provincial vote in Alberta with an overwhelming majority, promising a harder line on energy issues as a champion for the oil industry. The leader, Continue Reading
Electric Commercial Vehicles, a ten year update – Part 1
Just over ten years ago on April 9, 2009, the original article “Electric Commercial Vehicles” was posted at The Oil Drum web site. The article was prompted by an exchange Continue Reading
US Shale Gas Swamps Market
Natural gas futures tumbled to the lowest in almost three years as U.S. shale output swamps the market amid mild spring weather, soothing concern about a potential supply crunch next Continue Reading
Energy Secretary Perry planning to leave Trump administration: source
U.S. Energy Secretary Rick Perry is planning to leave the Trump administration, but his departure is not imminent, a source familiar with the situation said on Wednesday. Perry, a former Continue Reading
South Carolina aims to bar offshore drilling with budget proposal
South Carolina’s Republican-majority Senate advanced a measure on Wednesday that would require the state to block new infrastructure to transport or process offshore oil and gas as state lawmakers fear Continue Reading
The Genius Solution To The Electric Bus Problem
The electric bus revolution is about to take off. While the prospect of major advances in electric buses receive a small fraction of the attention that electric vehicles receive, the Continue Reading