Oil Prices Fall On Onslaught Of Bearish News
Oil prices fell sharply on Friday on easing tensions in the Middle East after a rather surprising turn of events. Saudi Arabia is implementing a partial cease-fire in Yemen, rumors Continue Reading
Banks See Oil Prices Staying Low Despite Attacks On Saudi Oil
Concerns about faltering global oil demand and expectations of rising U.S. crude oil exports trump fears of supply shortage after the attacks on Saudi oil and have investment banks predict Continue Reading
Solar, Wind Are Now Cheaper Than Coal In Most Of The World
The world’s premiere authority on global warming, the Intergovernmental Panel on Climate Change (or IPCC for short), announced in an alarming report at the end of last year that the Continue Reading
IEA Might Revise Down Oil Demand Growth Forecasts, Again
If the pace of global economy deteriorates further, the International Energy Agency (IEA) could revise down again its oil demand growth expectations for this year and next, the IEA’s executive Continue Reading
Oil and Gas is Here to Stay
OPEC’s research shows that oil and gas, and this industry as a whole, is here to stay. That’s what OPEC Secretary General Mohammad Sanusi Barkindo revealed in a speech at Continue Reading
Queues as far as the eye can see: new fuel shortage hits Yemen
A fuel shortage is deepening Yemen’s humanitarian crisis, forcing drivers to wait for days in queues that stretch back from some petrol stations as far as the eye can see. Continue Reading
Iran oil industry must be alert to physical, cyber threats: minister
Iran’s oil minister told the petroleum industry on Sunday to be on alert to physical and cyber attacks, amid heightened tensions with the United States in the Gulf region. U.S. Continue Reading
OPEC’s No.2 Prepares For Oil Export Boom
With Iraq’s oil production in August hitting an all-time record high of 4.97 million barrels per day (bpd), according to local Iraqi sources, the country is virtually at the maximum Continue Reading
Saudi crown prince warns of ‘Iran threat’ to global oil
Saudi crown prince: Oil attack “hit the heart of the global energy industry” Saudi crown prince: Oil attack “hit the heart of the global energy industry” Saudi Arabia’s crown prince Continue Reading
Bihar and Uttar Pradesh: More than 100 dead in fresh India flood chaos
Bihar and Uttar Pradesh: Floods bring chaos More than 100 people have died due to flooding caused by heavy rains in the Indian states of Uttar Pradesh and Bihar, officials Continue Reading
Brazil’s Huge $25 Billion Oil Auction Clears Very Important Hurdle
Brazil’s massive transfer-of-rights oil auction to be held on November 7 has cleared one hurdle as the Brazilian Congress approved on Thursday one section of a larger bill that determines Continue Reading
Exclusive: Mexico’s Pemex seeks control of U.S. oil firm’s billion-barrel find
When U.S. oil firm Talos Energy found nearly a billion barrels off Mexico’s southern Gulf coast two years ago, it marked the first discovery by a foreign firm since the Continue Reading
China’s Renewable Boom Hits The Wall
When earlier this year China announced subsidies for 22.79 GW of new solar power capacity, those following the country’s renewable energy story must have started to worry. The capacity subsidized Continue Reading
The Bad News on China’s Economy Gets a Little Better This Month
Economists say the improvement in both official and private gauges of factory activity is unlikely to mark a turnaround from the deepening slowdown in the industrial sector, as the world’s Continue Reading
Shale Boom Is Slowing Just When the World Needs Oil Most
Unlike several years ago, when shale production fell due to a global price collapse, the slowdown this year is driven partly by core operational issues, including wells producing less than Continue Reading
Global Slowdown Spreads Across U.S. Economy
Slowing global growth, fading effects from the 2017 tax cut and rising trade frictions are weighing on the U.S. economy. “The domestic economy is not immune to all these headwinds,” Continue Reading
‘Smart’ Appalachian Operators Can Handle Sub $2 Natural Gas
The Appalachian Basin is one U.S. hydrocarbon prospection patch that just keeps on giving natural gas – be it via conventional or unconventional means. It’s what the U.S. Energy Information Continue Reading
Europe Is Still Addicted To Coal
The end of the age of fossil fuels is not yet in sight in Europe . As Statista’s Martin Armstrong illustrates in the following infographic, there are still a number Continue Reading
Crude oil futures fall on Trump’s impeachment, Saudi recovery
Crude oil futures fell during mid-morning trade in Asia Friday as investors adopted a risk-adverse stance while awaiting more clarity on the impeachment inquiry into US President Donald Trump. In Continue Reading
Oil Slides As Middle East Tensions Fade
Crude oil prices fell on news that Saudi Arabia has declared a partial cease-fire in Yemen, a move that could significantly ease tensions across the region. Oil is set to Continue Reading
Oil shipping rates soar as U.S. supertanker sanctions rattle crude trade
Key oil freight rates from the Middle East to Asia rocketed as much as 28% on Friday in a global oil shipping market spooked by United States sanctions on units Continue Reading
U.K.-Flagged Tanker Leaves Iran After Two-Month Detention
The seizure came two weeks after Iran threatened to retaliate against the U.K. for impounding an Iranian tanker in the British overseas territory of Gibraltar in early July. “The vessel Continue Reading
Iran’s Ultimate Middle East Power Play
Yossef Bodansky, the Director of Research at the International Strategic Studies Association (ISSA) and Senior Editor of Defense & Foreign Affairs publications (including the Global… There was little doubt by Continue Reading
Analysis: Saudis spin confidence in Abqaiq recovery, but crude buyers want more evidence
When Saudi energy minister Prince Abdulaziz bin Salman declared to reporters just three days after a devastating missile attack that state oil company Aramco had risen “like a phoenix from Continue Reading
Russian, Iraqi, Emirati Oil Producers Benefit as Saudis Recover From Attack
Russia, Iraq and the United Arab Emirates are among the handful of oil producers benefiting from the recent attack on Saudi Arabia’s largest oil-processing facility, as Asian buyers seek alternatives Continue Reading
Saudi Arabia Agrees to Partial Cease-Fire in War-Shattered Yemen
Houthi leaders initially said they were responsible for the attack on the oil facilities, but Saudi, U.S. and European officials have dismissed the claims as a transparent attempt to obscure Continue Reading
Saudi Arabia implements public decency code as it opens to tourists
Saudi Arabia said on Saturday it would issue fines for 19 offences related to public decency, such as immodest dress and public displays of affection, as the Muslim kingdom opens Continue Reading
Fuel oil crunch worries Energy chief, urges diversification
National Energy Commission (CNE) executive director Angel Canó, on Thur. stated concern over the unexpected drop in the supply of fuel for power plants and asked to diversify the energy Continue Reading
What is Causing Cuba’s Fuel Shortage?
Cubans wait hours for buses to arrive. In Havana, drivers wait in long lines at gasoline stations. Both are signs of the effect of the United States’ sanctions on Cuba and its main Continue Reading
Chinese leaders can’t control the weather for their big 70-year bash. But they’re still trying.
Chinese tourists stand in front of a large screen set up for the 70th National Day celebrations as they visit Tiananmen Square on Sept. 27 in Beijing. (Kevin Frayer/Getty Images) Continue Reading
‘’Too Much Too Fast’’ Gas Glut Crushes Shale Drillers
Appalachian shale drillers are getting squeezed by low prices, and a supply glut may mean that there is little prospect of a pricing rebound anytime soon. Earlier this month, IHS Continue Reading
Goldman Sachs Sees Opportunity In The Shale Crisis
Despite years of burning through cash, and the deep sense of anxiety within the shale industry itself, Goldman Sachs says the current down market represents a buying opportunity. Through August Continue Reading
Global Slowdown Spreads Across U.S. Economy
Slowing global growth, fading effects from the 2017 tax cut and rising trade frictions are weighing on the U.S. economy. “The domestic economy is not immune to all these headwinds,” Continue Reading
GM’s Electric Ambitions Rattle Below the Surface of the UAW Strike
GM’s need to free up cash to invest in electrics has led it to make deep cuts in its core business, including its decision to close four U.S. factories —a Continue Reading
US Rig Count Drops by Eight
The U.S. dropped six oil rigs and two gas rigs for a net loss of eight rigs this week, according to Baker Hughes, a GE Company. The U.S. dropped six Continue Reading
Cooling U.S. consumer spending underscores risks to economy
U.S. consumer spending barely rose in August and business investment remained subdued amid lingering trade tensions, prompting economists to slash their economic growth estimates for the third quarter. The reports Continue Reading
Cooling US economy muddies waters for Fed
A key gauge of US business investment unexpectedly fell in August and consumer spending slowed, signaling the US economy cooled in the third quarter and complicating the outlook for the Continue Reading
Novatek Says It Has Enough Gas For Third LNG Plant In Russia
Russia’s largest independent natural gas producer, Novatek, expects its recently added gas field licenses will provide enough gas to warrant the construction of a third large liquefied natural gas (LNG) Continue Reading
Coal is Piling Up in Europe as Utilities Prefer Natural Gas
Stockpiles of coal are surging at some of Europe’s largest ports as utilities from Germany to Spain are increasingly favoring cleaner gas in power generation. Reserves at ports in Rotterdam, Continue Reading
New U.N. climate report: Monumental change already here for world’s oceans and frozen regions
Growing coastal flooding is inevitable, and damage to corals and other marine life has already been unleashed. But scientists say the world still has time to avert even more severe Continue Reading
LNG Investments Hit Record In 2019
Investments in liquefied natural gas since the start of the year have hit an all-time high of $50 billion, the International Energy Agency’s head, Fatih Birol, told an industry conference. Continue Reading
Traders Scramble To Find ‘Plan B’ As Sanctions Ground Chinese Oil Tankers
Oil traders around the world are scrambling to avoid being involved in the latest U.S. sanctions regarding Iranian oil after the United States imposed on Wednesday sanctions on a number Continue Reading
E.P.A. to Accuse California of ‘Significant’ Air and Water Problems – The New York Times
The Trump administration on Thursday, pressing the president’s complaints about homelessness in California, demanded the state improve the way it deals with human waste, arsenic and lead in water as Continue Reading
Scientific Breakthrough? A New Way To Make Electricity From Heat
A team of scientists say they have found a new way to generate electricity from capturing heat with the help of magnetic particles that were thought to have been useless Continue Reading
When it comes to acknowledging humans’ role in climate change, oil and gas industry lawyer says ‘that ship has sailed’
In a closed-door meeting of oil and gas executives, this summer in Colorado Springs, industry lawyer Mark Barron offered a bold proposal: Energy companies must accept that fossil fuels are Continue Reading
Permian Gas Pipeline Starts Up
Gulf Coast Express ships natural gas from the Waha to Agua Dulce hubs. The new Gulf Coast Express Pipeline (GCX) has begun full commercial service, delivering natural gas from the Continue Reading
Oil Prices Slide On Bearish Crude Inventory Data
Crude oil deepened its latest losses after the Energy Information Administration reported a 2.4-million-barrel build in crude oil inventories for the week to September 20. This compares with a build Continue Reading
Analysis: US crude stocks climb as refiners reduce runs
US crude stocks climbed 2.4 million barrels in the week that ended September 20 to 419.54 million barrels, as refiners reduced runs heading into the fall maintenance season, US Energy Continue Reading
EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia – Today in Energy – U.S. Energy Information Administration (EIA)
In its newly released International Energy Outlook 2019 (IEO2019) Reference case, the U.S. Energy Information Administration (EIA) projects that world energy consumption will grow by nearly 50% between 2018 and Continue Reading
Despite Saudi turmoil, fresh global oil shock unlikely
The effects of a possible oil shock, however, ‘should not be underestimated,’ the Commerzbank economists warned. Many economies have taken strides away from heavy oil consumption, thanks to transport and Continue Reading