Peak-Oil.org on hiatus indefinitely
Dear readers, Peak-Oil.org is on hiatus indefinitely; our erstwhile editor, Tom Whipple, has been ill but is on the mend. His daily presence is sorely missed and we are hoping Continue Reading
Oil gains on U.S. economic data, Gulf crude tanker dispute
Oil prices inched up on Friday, ending the week higher after stronger-than-expected U.S. economic data brightened the crude demand outlook and concerns over the safety of oil transport around the Continue Reading
Nigeria: Excess Output Forces China to Export Petrol to Nigeria, Mexico
A wave of new production and slowing domestic demand have forced China to export petrol cargoes to Nigeria and Mexico as the Asian country ramps up petrol exports in July Continue Reading
Is India Close To Launching Its Own Gigafactory?
India may be planning its own EV battery gigafactory, LiveMint reports, citing an unnamed government official. According to the report, the facility would cost US$4 billion to build. “We are Continue Reading
India’s Venezuelan June oil imports highest in seven quarters: trade
India’s oil imports from Venezuela surged to about 475,200 barrels per day (bpd) in June, more than double the previous month and highest in 21 months, data from shipping and Continue Reading
U.S. renews Chevron license in Venezuela for three months as Trump officials compromise
The Trump administration on Friday renewed Chevron Corp’s ( CVX.N ) license for three months to drill for oil in Venezuela despite sanctions, a compromise between officials seeking maximum pressure Continue Reading
Trump struggles to achieve 3 percent economic goal as growth slows
President Trump has touted the economy during his administration. (Jabin Botsford/The Washington Post) The U.S. economy slowed in the spring, falling to a level that most economists consider healthy but Continue Reading
U.S. oil drillers cut rigs for fourth week in a row: Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row, putting the rig count down for an eighth consecutive month as Continue Reading
Renewable Natural Gas Close To Taking Off In U.S.
Renewable natural gas—methane collected from waste and manure—is a popular source of energy in Europe, but in the United States, it has yet to establish itself as a viable alternative Continue Reading
Rig Count Falls Falls Amid Stellar Decline In US Oil Production
The US oil and gas rig count fell by 8 this week, according to Baker Hughes, adding to months of losses, as US oil production falls to lowest levels since Continue Reading
Bernie Sanders Calls For Line 5 Oil Pipeline To Be Shut Down
Democratic presidential hopeful Bernie Sanders has called for the controversial Line 5 oil pipeline to be shut down. Sanders became the second 2020 Democratic primary candidate to seek the closure Continue Reading
US Drops Eight Oil, Gas Rigs
The U.S. dropped five oil rigs and three gas rigs for a net loss of eight rigs this week. The U.S. dropped five oil rigs this week and three gas Continue Reading
Deepwater GOM Pipeline System Starts Up
Williams has acquired and placed into service the Norphlet deepwater gas gathering system. Williams reported Wednesday afternoon that it has acquired and placed into service the 16-inch Norphlet deepwater gathering Continue Reading
Russia’s Nord Stream 2 pipeline takes EU to court over new gas rules
A Russian-led project to lay a new gas pipeline to Europe is taking the European Union to court to challenge new rules it says endanger its business model, opening a Continue Reading
Arctic wildfires: What’s caused huge swathes of flames to spread?
The fires are very difficult for authorities to put out Wildfires are ravaging the Arctic, with areas of northern Siberia, northern Scandinavia, Alaska and Greenland engulfed in flames. Lightning frequently Continue Reading
Norway Looks For Bigger Role In European Gas Markets
Norway’s oil and gas major Equinor—which provides around 25 percent of the European Union’s (EU) natural gas demand—aims to play a more active role in selling its natural gas on Continue Reading
Oil advances as geopolitical tensions offset slack demand
Oil prices edged higher on Friday on worries about Middle East tensions, though a flagging global economic growth outlook amid the U.S.-China trade war capped gains. Brent crude futures LCOc1 Continue Reading
Central Bank Action Could Send Oil Higher
Faced with an economic slowdown, the European Central Bank indicated on Thursday that it was planning for an interest rate cut for the first time in more than three years. Continue Reading
Flags of inconvenience: noose tightens around Iranian shipping
Somewhere on its journey from the waters off Iran, around Africa’s southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and Continue Reading
Did Trump’s ‘Plan B’ For Iran Just Fail?
The Trump administration’s plan to rally global naval powers to protect shipping lanes in the Persian Gulf is not progressing very well. After President Trump pulled back from a military Continue Reading
As Turkey-PKK conflict escalates, new risks for KRG
Two months into Turkey’s new military offensive targeting PKK positions in Iraqi Kurdistan – and following the assassination of a Turkish diplomat in Erbil – a decades-old conflict is entering Continue Reading
Libya’s Oil Industry Turns To China For Help
Libya NOC representatives traveled to China today to discuss China’s interest in helping to restore Libya’s oil industry that has suffered through years of civil unrest, according to the Libya Continue Reading
Petrobras To Refuel Stranded Iranian Ships Per Court Order
The top court in Brazil overturned a lower-court injunction and ordered Brazil’s state energy firm Petrobras to provide fuel to two Iran-flagged vessels containing grain that have been stuck at Continue Reading
Chevron ‘hopeful’ of U.S. approval to continue operating in Venezuela
Chevron Corp, the last U.S. oil company operating in Venezuela, said on Thursday it hopes to be able to remain in the Latin American nation as the Trump administration mulls Continue Reading
Oilfield service firms offer grim outlook for second half of year
U.S. shale producers are poised to further trim spending this year, executives at companies that provide drilling and hydraulic fracturing services warned this week, as several took steps to idle Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending July 19, 2019 U.S. crude oil refinery inputs averaged 17.0 million barrels per day during the week ending July 19, 2019, Continue Reading
US Tight Oil Legacy Decline and US Tight Oil Scenarios
US tight oil legacy decline can be estimated by assuming no future tight oil completions in the various US tight oil basins. The charts below illustrate such an estimate for Continue Reading
Shale Drilling’s Worst Yet to Come
America’s biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne Inc. said he called the bottom too soon. (Bloomberg) — America’s Continue Reading
Expect Chinese Refinery Run Rates To Fall Soon
Chinese refineries will reduce their throughput during the current quarter ahead of the country’s National Day holiday that begins in October, S&P Global Platts reports , citing a general state-imposed Continue Reading
Heat wave smashes temperature records across Europe
A historic heat wave inflicted life-threatening temperatures on Europe and shattered all-time highs in multiple countries Thursday. Paris registered a jaw-dropping 108.7 degrees, according to Météo-France , the national weather Continue Reading
Russia And OPEC Will Soon Face Test In Taming Oversupply Of Oil
The latest mission by OPEC and its partners to contain a crude oil glut is entering its most critical phase. Saudi Arabia, Russia and other major crude exporters have struggled Continue Reading
World’s Largest Nuclear Fusion Experiment Clears Milestone
A multination project to build a fusion reactor cleared a milestone yesterday and is now 6 ½ years away from “First Plasma,” officials announced. Yesterday, dignitaries attended a components handover Continue Reading
Oil advances on Gulf tensions but demand concerns cap gains
Oil prices edged higher on Thursday amid Middle East tensions and a big fall in weekly U.S. crude stocks, but gains were stemmed by a frail demand outlook amid increasing Continue Reading
Global solar installations to reach record high this year: research
New solar photovoltaic (PV) installations are set to reach a record high this year, driven by improving markets in Europe and the United States and fast growth in India and Continue Reading
Old habits die hard: Saudi Arabia struggles to end oil addiction
When Saudi Aramco was on the verge of a deal last year to buy a stake in an Indian oil refinery, its boss quickly boarded a company jet in Paris Continue Reading
Trump To Decide The Fate Of Venezuela’s Oil Sector
Another slice of Venezuela’s oil production is at risk, and it is very much at the mercy of the U.S. government. When the Trump administration announced sanctions on Venezuelan oil Continue Reading
Mexico’s Very Risky Energy Bet
Mexico’s new government came into power with promises to turn around the country’s oil industry and boost production after, it said, the previous government failed. Despite these promises and the Continue Reading
PDVSA to indefinitely halt production of upgraded synthetic Orinoco crude in August
Venezuela’s state-owned oil company PDVSA plans to indefinitely halt the production of upgraded Orinoco Belt synthetic crudes in August, and instead is converting its upgraders to blending facilities for the Continue Reading
US Treasury chief to resume trade talks in China next week: White House
US Secretary of the Treasury Steven Mnuchin and Trade Representative Robert Lighthizer will resume trade talks in Shanghai on July 30, with a focus on agriculture, the trade deficit and Continue Reading
Major Setback For EVs Could Delay Peak Oil Demand
Peak oil demand might be delayed as the U.S. and China scale back support for fuel efficiency and electric vehicles. Once thought of as far off into the future, forecasts Continue Reading
Putin allies’ oil feud spills into public view
MOSCOW (Reuters) – The blame game over a contamination scandal in Russia’s oil industry has breached President Vladimir Putin’s inner circle. FILE PHOTO: Russian President Vladimir Putin gestures as he Continue Reading
Europe Suffers Heat Wave of Dangerous, Record-High Temperatures
Stefan Sauer/Agence France-Presse — Getty Images LONDON — People across Western Europe are suffering through an intense heat wave this week, with the worst still to come on Thursday, when Continue Reading
In Europe, a historic heat wave is shattering records with astonishing ease, may hasten Arctic melt
Temperature departures from average on Thursday, showing the scorching heat across Western Europe. (Weatherbell.com) (This article has been updated) A historic heat wave is bringing unprecedented temperatures to Western Europe, Continue Reading
Oil Spikes After API Reports Largest Crude Inventory Draw Of The Year
The American Petroleum Institute (API) reported a huge crude oil inventory draw of 10.961 million barrels for the week ending July 18, compared to analyst expectations of a much smaller—but Continue Reading
Oil rises near $64/bbl on second downed Iranian drone
Oil rose to almost $64 on Tuesday, jumping late in the session after the head of U.S. Central Command said the United States may have taken down a second Iranian Continue Reading
Explosion Of Geopolitical Risk Isn’t Moving Oil
The tanker battles are escalating once again, but the threat of outages and rising tension in the Persian Gulf has failed to meaningfully move oil prices. On Friday, Iranian forces Continue Reading
Hedge Funds Unexpectedly Set The Stage For An Oil Rally
As market participants continue to weigh two decisively bearish factors for oil prices—slowing oil demand growth and soaring non-OPEC oil supply—two potentially bullish drivers have made money managers return to Continue Reading
Crude oil futures stable after IEA reports on emergency stocks
Crude oil futures were largely stable during mid-morning trade in Asia Tuesday as reports on the availability of emergency stocks eased supply concerns stemming from geopolitical tensions in the Middle Continue Reading
Is This The Next Big Oil Disruption In The Middle East?
The political fortunes of the Kurds have ebbed and flowed over the decades. After a good run since achieving semi-autonomy in northern Iraq following the 1991 Gulf War, shifting Middle Continue Reading
Iran is ready to negotiate but not if negotiations mean surrender: Iran president
Iran is ready for “just” negotiations but not if they mean surrender, Iran’s President Hassan Rouhani said on Wednesday, without saying what talks he had in mind. Rouhani seemed to Continue Reading