New OPEC-Russia Pact on Oil Cuts Could Last Well Into 2020
OPEC’s 14 member nations and a group of 10 countries led by Russia are gathering Monday and Tuesday for a high-stakes meeting in Vienna to discuss ways to balance the Continue Reading
Iran Has Breached Critical Limit on Nuclear Fuel Under 2015 Pact, State Media Reports
Iranian Presidency Office, via Associated Press WASHINGTON — Iran has exceeded a key limitation on how much nuclear fuel it can possess under the 2015 international pact curbing its nuclear Continue Reading
Iran will not block OPEC/non-OPEC oil cut extension, but will veto charter: minister
Iran’s oil minister on Monday said he will veto OPEC’s long-mooted charter intended to formalize its oil market coordination with Russia and nine other non-OPEC partners, if it comes up Continue Reading
OPEC set to extend oil supply cut as Iran endorses pact
OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia Continue Reading
China warns of long road ahead for deal with U.S. after ice-breaking talks
China and the United States will face a long road before they can reach a deal to end their bitter trade war, with more fights ahead likely, Chinese state media Continue Reading
Trump says China trade talks ‘back on track,’ new tariffs on hold
The United States and China agreed on Saturday to restart trade talks after President Donald Trump offered concessions including no new tariffs and an easing of restrictions on tech company Continue Reading
Swine fever toll in China may be twice as high as reported, industry insiders say
As many as half of China’s breeding pigs have either died from African swine fever or been slaughtered because of the spreading disease, twice as many as officially acknowledged, according Continue Reading
China To Dominate Concentrated Solar Power Renaissance
“Concentrating solar power (CSP) plants,” explains the Solar Energy Industries Association, “use mirrors to concentrate the sun’s energy to drive traditional steam turbines or engines that create electricity. The thermal Continue Reading
China’s May oil product consumption rises 8% on year: NDRC
China’s oil product consumption rose 8% year on year in May to 29.73 million mt, latest data on the National Development and Reform Commission website showed. The volume also rebounded Continue Reading
China’s manufacturing sector weakens further in June; steel prices slip on month
China’s manufacturing sector weakened further in June as trade tensions with the United States deterred new sales and production, and contributed to lower steel prices in the month. The National Continue Reading
U.S. Accounts For 98% Of All Global Oil Production Growth
Earlier this month BP released its Statistical Review of World Energy 2019 . The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level Continue Reading
Shale Boom Changes U.S. Position In Persian Gulf Conflict
The recent spike in tensions between the U.S. and Iran has pushed oil prices higher mostly because of the possibility—however slim—that Iran may decide to go through with its threat Continue Reading
U.S. shale’s growth rate peaked last year, slower gains ahead
The U.S. shale industry’s sizzling growth rate likely peaked last year, according to a survey of major forecasters, cooled by investors demanding financial returns over increased oil output. Photo Around Continue Reading
US insurer Chubb pulls back from coal
Chubb is set to become the first of the big US insurers to announce a ban on coverage for coal companies. There has been a growing movement in Europe to stop Continue Reading
API: Trade War Already Hurts U.S. Energy Exports
Donald Trump has threatened to continue escalating the United States’ trade war with China by introducing another round of tariffs on exports from the world’s second-largest economy. This time the Continue Reading
US E&P Workers Getting Paid More in 2019
Engineering technicians/analysts, reservoir engineers and workers in geoscience disciplines are enjoying higher salaries in 2019, according to a report from CSI Recruiting. Crude production in the U.S. has continued to Continue Reading
Russian oil output up at 11.15 million bpd in June, still within deal quota
Russian oil production rose to 11.15 million barrels per day (bpd) in June from 11.11 million bpd in May, two industry sources told Reuters on Monday, although it was still Continue Reading
BP’s Highly Unusual Natural Gas Investment
Oil and gas giant BP has recently intensified calls for sustainability and for reducing carbon emissions in the world’s energy systems, acknowledging that the energy transition is already underway, but Continue Reading
Nord Stream 2 drops first Danish route request, keeps EEZ routes
Russia’s Nord Stream 2 gas link project company has withdrawn its 2017 request for a route through Danish territorial waters in an attempt to speed up the permitting process. The Continue Reading
EC JRC report explores future of road transport; moving away from system centered on private car ownership
The Joint Research Center (JRC), the European Commission’s science and knowledge service, has released a report exploring the future of road transport, given the advent of automated, connected, low-carbon and Continue Reading