Motorists in socialist Venezuela have long enjoyed the world’s cheapest gasoline, with fuel so heavily subsidized that a full tank these days costs a tiny fraction of a U.S. penny. Continue Reading
Businesses are making arrangements to diversify their supply-chain investments away from the China market and enacting other structural changes to account for that, Mr. Parker said. It could take about Continue Reading
Ford lowered its full-year profit outlook after booking weaker earnings in the third quarter, citing slower sales in China and the need to offer bigger discounts in North America among Continue Reading
Faced with rising natural gas and liquefied natural gas (LNG) imports to meet growing demand, China is trying to raise its domestic gas production, including by setting up incentives for Continue Reading
This is the third of a five-part special report on China’s small independent refiners. Our team conducted an extensive tour of the Shandong-based refining sector to gauge the direction it Continue Reading
State-owned Sinopec expects China’s natural gas demand to increase by 82% to 510 Bcm in 2030, from 280 Bcm in 2018, driven by continued industrial upgrading and urbanization. Gas demand growth Continue Reading
Increasingly, U.S. shale firms appear unable to pay back investors for the money borrowed to fuel the last decade of the fracking boom. In a similar vein, those companies also Continue Reading
(Reuters) – U.S. electronics factories are investing less and slowing hiring or laying off workers in some cases due to the rising costs of trade tariffs, according to an industry Continue Reading
President Donald Trump on Wednesday is expected to affirm plans to pull the United States out of the Paris climate agreement, a source said, less than two weeks before he Continue Reading
PG&E Corp. said it would begin shutting off power to 179,000 customers in 17 California counties on Wednesday afternoon, its second major intentional blackout this month meant to head off Continue Reading
The price at the pump was more than $4 a gallon in Vista, Calif., when Scott Hissem recently embarked on a trip to Texas to celebrate his 40th birthday. When Continue Reading
Summary of Weekly Petroleum Data for the week ending October 18, 2019 U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending October 18, 2019, Continue Reading
California might be blazing a trail with getting a large number of electric vehicles on the road, but the only trail California is currently blazing is the wildfire/PG&E fiasco that Continue Reading
Sweden, the leader in the share of renewable energy use in the European Union (EU), targets to eliminate subsidies for onshore wind farms by the end of 2021, at around Continue Reading
Lukoil’s chief executive Vagit Alekperov has joined Rosneft’s Igor Sechin in voicing his opposition to another extension of the OPEC+ oil production cut agreement, Reuters reports , citing Russian news Continue Reading
A coalition of biofuel groups Wednesday sued the Environmental Protection Agency challenging waivers that exempted small refineries from the 2018 biofuel blending mandate. The waivers to 36 refineries slashed Continue Reading
Highlights Expect continued pressure on coal in Q4 Record third quarter operating ratio of 64.9% Houston — Norfolk Southern railroad reported lower coal volumes in the third quarter, driven by Continue Reading
Through its analysis of more than 80,000 wells drilled in the Permian and Eagle Ford over the last decade, Deloitte determined the shale industry can save billions of dollars. Well Continue Reading
Exxon Mobil Corp’s lawyer slammed New York’s securities-fraud case as the trial opened. (Bloomberg) — Exxon Mobil Corp.’s lawyer slammed New York’s securities-fraud case as the trial opened, saying the Continue Reading
on Wednesday surprised investors with a quarterly profit that sent its shares soaring, as Chief Executive Elon Musk promised a 2020 rollout of a cheaper SUV and more self-driving technology Continue Reading
More than half a million homes and businesses in California could lose power this week as utilities including Pacific Gas & Electric ( PCG.N ) and Southern California Edison ( Continue Reading
The money pipeline is running dry for large portions of the US shale oil sector, tipping drillers into bankruptcy and threatening the industry’s breathtaking growth in oil production. Spooked by Continue Reading
Researchers have developed a new catalytic method for upcycling abundant, seemingly low-value plastics (polyethylene) into high-quality liquid products, such as motor oils, lubricants, detergents and even cosmetics. The discovery also Continue Reading
This isn’t another tired story about how kicking the coal habit will reduce greenhouse gas emissions. That would be like kicking a dead horse. Instead, there is a massive new Continue Reading
Crude oil futures edged lower during mid-morning trade in Asia Wednesday in the wake of a bearish weekly report on US crude inventories as markets remained equally focused on potentially Continue Reading
Billionaire investors are already piling in, and now the smart money is set to follow. The Hottest Investment Sector Of The Decade : Learn more here oil rebounds (Click to Continue Reading
For some time now it has been clear that the effects of climate change are appearing faster than scientists anticipated. Now it turns out that there is another form of underestimation as bad or Continue Reading
Sea surface temperature anomalies during the 2015-2016 El Nino event. (NOAA) Climate change is reshaping the evolution and intensity of El Niño events in a way that favors the occurrence Continue Reading
A At the crack of dawn, the leaders of the expedition line up with binoculars on the bridge of the icebreaker Polarstern. The day is overcast and the light is Continue Reading
ISIS has lost its caliphate. The infamous terrorist organization that just a few years ago had even the most powerful world leaders terrified as it snapped up more and more Continue Reading
Given that China has put its expansion into Iran on hold for the time being due to the backlash in Iran on the extent of such plans, Tehran is now Continue Reading
Oil giant Saudi Aramco’s much-vaunted stock market listing was delayed after deal advisers said they need more time to lock in cornerstone investors, three sources with direct knowledge of the Continue Reading
If you ask President Trump, the United States is simultaneously bringing its troops home from Syria and securing “ the Oil ” (his capitalization) there. In fact, the United States Continue Reading
OPEC will consider at its December meeting instituting even deeper production cuts, OPEC sources told Reuters today, even though not everyone in the group is complying to the existing production Continue Reading
The world’s top oil exporter, Saudi Arabia, is issuing US$2.5 billion worth of Islamic bonds, or sukuk, on Tuesday, returning to the bond market to take advantage of the low Continue Reading
Oil theft A report by the Nigeria Natural Resource Charter (NNRC) has revealed that the highest ever reported crude oil theft in the world has taken place in Nigeria, with Continue Reading
The highest ever reported crude oil theft in the world has taken place in Nigeria with the country recording approximately 400,000 barrels per day (bpd) crude theft, a report showed. Continue Reading
Russia is looking to increase energy cooperation with African countries as it strives to play a more influential role in global energy markets. President Vladimir Putin will host the Russia-Africa Summit Continue Reading
The U.S. government granted Chevron another three-month extension to a sanction waiver that allowed the supermajor to continue doing business in Venezuela, quenching concerns it would have to up and Continue Reading
The US may intervene in the interim Venezuelan government’s legal fight with creditors over control of Citgo, but it wants negotiations over this weekend’s bond payment deadline to play out Continue Reading
Brazil’s Petrobras could take over marketing of the government’s share of crude from offshore oilfields, a government official told Reuters, adding significantly to the state-run oil firm’s trading operations. Pre-Salt Continue Reading
The neck-to-neck race to dominate the electric vehicle space continues between Elon Musk’s Tesla and Warren Buffet’s BYD. But it’s a much larger story than just EV sales — with Continue Reading
The major Chinese oil and gas companies are boosting natural gas supply across the country ahead of the winter heating season, as demand in China continues to grow, although at Continue Reading
Tesla Inc ( TSLA.O ) is conducting trial production runs at its new $2 billion China factory for the past several weeks and will sell some of the first cars Continue Reading
Nissan unveiled the Ariya Concept, a crossover EV with twin electric motors, powerful acceleration, award-winning driver assistance technology and a look that signals a complete reinvention of the brand’s design. Continue Reading
Growing U.S. crude oil production and exports have resulted in America selling oil to more destinations around the world than the number of countries from which it imports crude oil, Continue Reading
The American Petroleum Institute (API) has estimated a crude oil inventory build of 4.45 million barrels for the week ending October 17—compared to analyst expectations of a 2.232-million-barrel build. Last Continue Reading
Highlights Goldman lowers 1 million b/d 2020 forecast to 700,000 b/d US November shale output to grow by 1.14 million b/d on the year: EIA Permian to account for 116% Continue Reading
America’s shale boom got the world accustomed to soaring production. Now growth has slowed, and a cloud has formed over the industry. Hydraulic fracturing pushed the U.S. closer to its Continue Reading
To illustrate how Exxon Mobil Corp. allegedly deceived investors about its climate-change accounting, a lawyer from the New York attorney general’s office showed a packed Manhattan courtroom Tuesday a multicolored Continue Reading
