Why Bears Will Win The Oil Price War
Oil prices may have had an impressive rally this year – until last week – but the longer-term trend looks downbeat. “Deflationary forces are gathering momentum,” Morgan Stanley analysts wrote Continue Reading
Have Gasoline Prices Peaked For 2019?
U.S. gasoline prices jumped the most since 2011 between New Year’s Day and early May this year, a few weeks before the unofficial start of the summer driving season—Memorial Day. Continue Reading
IEA: CO2 Levels Hit Another Record High
When the International Energy Agency (IEA) reported in late March that energy consumption in 2018 rose at the fastest rate in a decade , it confirmed something that most of Continue Reading
IEA rings alarm bell on phasing out nuclear energy
A steep decline in nuclear energy capacity will threaten climate goals and power supply security unless advanced economies find a way to extend the lifespan of their reactors, the International Continue Reading
Earth’s methane emissions are rising and we don’t know why
Getty Methane is a worse greenhouse gas than carbon dioxide Levels of a powerful greenhouse gas jumped again last year, continuing a surge in the past few years that researchers Continue Reading
Despite the global push to reduce plastic use, demand impact for oil and other feedstocks remains unaffected
A movement to reduce plastic use has led to bans worldwide on shopping bags, straws and other single-use items, but no noticeable impact on demand for crude oil and other Continue Reading
IEA: steep decline in nuclear power would threaten energy security and climate goals
With nuclear power facing an uncertain future in many countries, the world risks a steep decline in its use in advanced economies that could result in billions of tonnes of Continue Reading
Trump says Iran nuclear deal achievable as sanctions sting
U.S. President Donald Trump said on Monday a deal with Iran on its nuclear program was possible, crediting economic sanctions for curbing activities Washington has said are behind a spate Continue Reading
Trump says he is not seeking ‘regime change’ in Iran
President Trump on Monday denied that the United States is seeking regime change in Iran, dialing back hawkish rhetoric days after ordering 1,500 additional U.S. troops to the region. Actions Continue Reading
Pentagon Accuses Iran Of Tanker Sabotage
The Pentagon has accused Iran’s Revolutionary Guard of sabotaging four vessels at the Emirati port of Fujairah that media reported earlier this month, and the reports pushed oil prices higher. Continue Reading
Iran sees no prospect of negotiations with U.S.: foreign ministry
Iran sees no prospect of negotiations with the United States, a foreign ministry spokesman said on Tuesday, a day after U.S. President Donald Trump said a deal with Tehran on Continue Reading
Iranians adjust to living under Trump’s sanctions
Today, Iran is more stable than at this time last year. This may surprise Donald Trump’s US administration, which has imposed the toughest ever sanctions against the Islamic republic over Continue Reading
Algeria to seek ‘good compromise’ over Total’s Anadarko deal: minister
Algeria’s energy minister said on Monday he would seek a “good compromise” when asked about his earlier comments that Algiers would block a plan by France’s Total to buy Anadarko’s Continue Reading
Exxon May Land Itself In Hot Water Over Iraqi Exit
Iraq’s Basra Provincial Council is calling on the Iraqi government to take Exxon to task over its decision to evacuate its engineers from its West Qurna oilfield in the Basra Continue Reading
U.S.-Mediated Talks On Israel-Lebanon Border Could Revive East Mediterranean Oil
Israel suggested on Monday that it is open to United States-mediated negotiations with Lebanon over a long-standing dispute over a maritime border—and if talks are successful, oil and gas exploration Continue Reading
Nigeria: Pipeline Vandalism Adversely Affecting Host Communities, Says Buhari
President Muhammadu Buhari yesterday in Abuja said the destruction of oil facilities by vandals was having adverse effects on host communities as well as the majority of the people and Continue Reading
Shippers raise rates for cargo from U.S. to Venezuela: documents, sources
Two major shipping lines this month have raised their rates for transporting goods from the United States to Venezuela, according to three industry sources and two documents, as U.S. sanctions Continue Reading
Shell Vows Not To Return Pumping Oil In Troubled Nigerian Region
The Nigerian unit of Royal Dutch Shell doesn’t have any plans to return to exploring or producing oil in Ogoniland in Nigeria’s Rivers state after it ceased operations there in Continue Reading
South Africa Finally Enacts Carbon Tax
After nearly a decade of delays, South Africa has just joined some 40 countries that have enacted national carbon tax policies, aiming to curb the rise in carbon emissions to Continue Reading
Mexican Investigators File Corruption Charges Against Pemex Ex-CEO
Mexican investigators have filed charges with federal prosecutors against the former head of state-run oil company Petróleos Mexicanos in connection with a corruption probe, officials said on Monday. The case Continue Reading
Renewables Investment To Overtake Oil & Gas In Asia
Renewable energy investment in Asia excluding China will overtake spending on upstream oil and gas projects in the region as soon as next year, according to Rystad Energy. Total capital Continue Reading
China’s April LNG supply from Australia hits record high, up 61% on year
China imported a record high 2.79 million mt of LNG from Australia in April, up 61.3% year on year, latest customs data showed, amid growing domestic gas consumption, rising Australian Continue Reading
China pays record $22bn in corporate subsidies in 2018
China increased its subsidies to domestically listed companies to a record level last year to help them weather a slowdown in the world’s second-largest economy, in a move likely to Continue Reading
Schlumberger Suffers Credit Hit
Schlumberger had its debt rating lowered by S&P Global Inc. (Bloomberg) — Schlumberger Ltd. had its debt rating lowered by S&P Global Inc. as belt-tightening in the U.S. shale patch Continue Reading
Quebec provincial leader aims to boost use of hydroelectric power
François Legault, premier of Canada’s hydroelectricity-reliant Quebec province, on Sunday said he would present a sweeping plan to electrify public transport, and heating and air conditioning by the end of Continue Reading
Small shale companies under pressure, says Fed official
Independent shale drillers in the US are facing pressure to either expand or be acquired, Robert Kaplan, president of the Federal Reserve Bank of Dallas, has said. Despite the classic “wildcatting” Continue Reading
The Biggest Losers In The Shale Slowdown
Schlumberger saw its debt rating downgraded by S&P due to the unfolding slowdown in drilling by U.S. shale companies. The largest oilfield service company in the world has seen its Continue Reading
Cornell team suggests engineered bacteria could address current limitations of energy storage technologies
Raising the penetration of renewable —an intermittent—sources of energy into the grid will require large scale electrical energy storage and retrieval. However, at present, no existing technology provides such storage Continue Reading
Trump Administration Hardens Its Attack on Climate Science
President Trump has rolled back environmental regulations, pulled the United States out of the Paris climate accord, brushed aside dire predictions about the effects of climate change, and turned the Continue Reading
European Greens surge as voters abandon old parties over climate
European Green parties on Monday were cheering E.U. elections that vaulted them into a kingmaking position of power, as voters abandoned traditional political parties in favor of climate-focused activists in Continue Reading
Falling Russian Crude Output Lifts Brent Oil Prices
Russian oil production continues to trend lower in May as exports via the Druzhba oil pipeline have been restricted due to a contamination issue, helping Russia to finally fall in Continue Reading
Norway’s oil industry eyes 17% growth in 2019 investments
Oil and gas companies working in Norway have hiked their 2019 and 2020 investment forecasts as they add more field development plans, a survey by the country’s statistics agency (SSB) Continue Reading
Crude mixed on diverging fundamentals
Crude oil futures were mixed during mid-morning trade in Asia Monday amid diverging indications on demand and supply fundamentals in the market, analysts said.At 11:00 am Singapore time (0300 GMT), Continue Reading
Oil steadies as trade fears balance Mideast tension and supply cuts
Oil steadied on Monday, trading below $69 a barrel, as concern over the U.S.-China trade dispute and global economic outlook offset support from Middle East tensions and supply cuts. Figures Continue Reading
Is The Oil Glut Coming Back?
Oil had its worst week of the year, and the plunge in prices have renewed concerns about the global economy , oil demand and a stubborn crude oil surplus. Oil Continue Reading
The Oil Market Isn’t As Weak As It Appears
A slight price recovery on Friday couldn’t save what turned out to be the worst week this year for oil markets. Brent is currently hovering around $68 per barrel having Continue Reading
Iran could block Strait of Hormuz if US deploys troops: Iraq oil minister
Fishermen off Fujairah, United Arab Emirates, near the Strait of Hormuz, May 30, 2012. File photo: Kamran Jebreili / AP ERBIL, Kurdistan Region – US troop deployments to the Middle Continue Reading
Iran will defend itself against any aggression, says foreign minister
Iran will defend itself against any military or economic aggression, Foreign Minister Mohammad Javad Zarif said on Sunday, calling on European states to do more to preserve a nuclear agreement Continue Reading
Algeria to block Total from buying Anadarko’s Algerian assets: minister
Algeria will block Total from acquiring Anadarko’s assets in Algeria, energy minister Mohamed Arkab told reporters on the sidelines of a conference on Sunday. Occidental Petroleum has agreed to sell Continue Reading
Rare Earth Metals: China’s ‘Nuclear Option’ In The Trade War
A simple visit to an obscure factory by Chinese President Xi on Monday is all it took to raise the specter that China could be contemplating cutting off supply of critical materials Continue Reading
SK Innovation replaces Iranian condensate with crudes from Russia, elsewhere
SEOUL (Reuters) – SK Innovation, the owner of South Korea’s top refiner SK Energy and petrochemical maker SK Incheon Petrochem, has been replacing Iranian condensate with crude oil from other Continue Reading
Nigeria: Buhari Under Fire Over Nation’s Oil Sector Woes
As President Muhammadu Buhari, who doubles as the petroleum minister, completes his first term in office, stakeholders in the oil and gas sector have insisted that his performance in the Continue Reading
Venezuela government and opposition resume Oslo talks
The Venezuelan government and opposition will return to Oslo this week for a second round of talks as diplomatic efforts to find a solution to the country’s political crisis gather Continue Reading
Why the country with the world’s largest oil reserves faces gas shortages
A closed gas station in the outskirts of Caracas, Venezuela. (CNN)For many Venezuelans, oil is a birthright in the country blessed with the largest crude reserves in the world. Despite Continue Reading
Watch: Mile long waits for gas in oil rich Venezuela
US sanctions on oil-rich Venezuela appear to be taking hold, resulting in mile-long lines for fuel in the South American nation’s second-largest city, Maracaibo. One driver said he has been Continue Reading
China data: Iranian Apr crude imports hit 5-year high at 792,000 b/d before waiver expiry
Singapore — China’s crude oil imports from Iran hit a five-year high in April at 792,380 b/d or 3.24 million mt, before the expiry of US sanction waivers for Iranian Continue Reading
Forecasts Call for a Normal Hurricane Season, but ‘It Only Takes One’
NASA/Goddard Want climate news in your inbox? Sign up here for Climate Fwd: , our email newsletter. This year’s Atlantic hurricane season should be “near normal,” government forecasters announced on Continue Reading
The Tricky Question About Nuclear Even Experts Can’t Answer
My wife and I have been watching the new HBO miniseries on the 1986 Chernobyl nuclear disaster. During the second episode, she asked me the question that is probably on Continue Reading
This Oilfield Service Player Is Looking To Make A Comeback
Introduction The collapse of deepwater drilling in the Gulf of Mexico, (GoM) beginning in 2014, with no real recovery yet in sight, has spread a lot of misery around the Continue Reading
For the Midwest, Epic Flooding Is the Face of Climate Change
Massive rainfall has put millions of people at risk of flooding and kept farmers out of their fields, harming the nation’s ability to produce food. Fierce storms lashed across the Continue Reading