Iran suffering ‘severe distress’ from US sanctions, says IMF
The severe strain that US sanctions have placed on Iran was spelled out by the IMF this week when it forecast that the economy would contract by 9.5 percent this Continue Reading
“Oil for development” budget, challenges and opportunities
Iran has recently announced that its next fiscal year’s budget is going to be set with less reliance on oil revenues. Last week, Head of the Country’s Budget and Planning Continue Reading
Iran Claims To Have Video Evidence Of Oil Tanker Attacks
Iran has claimed that it has footage of last week’s attack on its oil tanker while off the Saudi Arabian Jeddah port, and it proves that the attacks were carried Continue Reading
Mammoth Oil Field Hit Hard By Unplanned Production Cuts
Oil production at one of the world’s largest offshore oil fields, Kashagan in Kazakhstan, has dropped by 80,000 barrels per day since early October because of unplanned maintenance, Kazakhstan’s energy Continue Reading
India’s Ingenious Way Around U.S. Oil Sanctions
Indian Nyara Energy has been buying Venezuelan crude oil from Rosneft and paying in fuel instead of cash to avoid a breach of U.S. sanctions against Caracas, Reuters reports, citing Continue Reading
US still pressing China to stop importing Iranian crude
More than five months after the US ended sanctions waivers for Iran’s biggest oil buyers, the Trump administration continues to press China to stop importing Iranian crude oil, Brian Hook, Continue Reading
Despite Trade Truce, U.S.-China Cold War Edges Closer
But the trade war has since blossomed into a broader, deeper ideological conflict. Events in the last week show that the two economic superpowers, though reaching a truce in their Continue Reading
Japan Spent Mightily to Soften Nature’s Wrath, but Can It Ever Be Enough?
The time was 1:30 a.m., and Hiroshi Ogawa was trying to decide whether he should run from the biggest typhoon to hit Japan in decades. His home stood near the Continue Reading
Venezuela’s Prize Oil Asset May Soon Be Up For Grabs
Venezuela’s opposition is getting ready to file within days a lawsuit in the United States seeking to prevent bond holders of Venezuelan state oil firm PDVSA from going after shares Continue Reading
Solid-electrolyte-based liquid Li-S and Li-Se batteries can deliver up to 500 Wh/kg
Researchers at Zhengzhou University, Tsinghua University and Stanford University have developed a solid-electrolyte-based liquid Li-S and Li-Se (SELL-S and SELL-Se, respectively) battery system with the potential to deliver energy densities Continue Reading
Tesla gets approval to start manufacturing in China
Tesla Inc was added to a government list of approved automotive manufacturers, China’s industry ministry said on Thursday, as it granted the electric-vehicle maker a certificate it needs to start Continue Reading
Despite Their Promises, Giant Energy Companies Burn Away Vast Amounts of Natural Gas
When leaders from Exxon Mobil and BP gathered last month with other fossil-fuel executives to declare they were serious about climate change, they cited progress in curbing an energy-wasting practice called Continue Reading
Toyota to show production-ready ultra-compact BEV at 2019 Tokyo Motor Show; introducing new BEV business model
Toyota Motor will display its new, production-ready Ultra-compact BEV (battery electric vehicle) at the FUTURE EXPO special exhibition of the 2019 Tokyo Motor Show ahead of the vehicle’s planned commercial Continue Reading
Trump says likely won’t sign China trade deal until he meets with Xi
U.S. President Donald Trump on Wednesday said he likely would not sign any trade deal with China until he meets with Chinese President Xi Jinping at the upcoming APEC Forum Continue Reading
Peak Shale: Is the US Fracking Industry Already in Decline?
In 2016, lower oil prices led to an overall drop in production for shale companies, which use horizontal drilling and fracking to extract oil and gas from shale formations such Continue Reading
Will the Fracking Revolution Peak Before Ever Making Money?
This week, the Wall Street Journal highlighted that the U.S. oil and gas shale industry, already struggling financially, is now facing “core operational issues.” That should be a truly frightening Continue Reading
Weak U.S. retail sales cast shadow over slowing economy
U.S. retail sales fell for the first time in seven months in September, suggesting that manufacturing-led weakness could be spreading to the broader economy, keeping the door open for the Continue Reading
The threat of a tropical storm in the Gulf of Mexico is growing
We’re tracking an area of low pressure that looks to form and develop some in the Gulf of Mexico through Friday. If it intensifies to tropical storm strength, it would Continue Reading
A terrible pandemic is killing pigs around the world, and U.S. pork producers fear they could be hit next
U.S. authorities have started active preparations in response to the rising threat of an outbreak of African swine fever, the deadly disease that has decimated the Chinese pig population and Continue Reading
A Draconian Crackdown Looms Over Natural Gas
The natural gas industry is reeling as the political climate begins to shift against the industry faster and earlier than many expected. “If large institutional financial banks stop funding fossil Continue Reading
Feature: USGC crude exports flowing despite 128% VLCC freight spike
Total volumes of US-origin crude exports are expected to see minimal impacts from spike in US Gulf Coast-loading VLCC freight rates of more than 128% since September 25, as a Continue Reading
U.S. Shale Output Nears 9 Million Bpd
Crude oil production from the seven major shale plays in the United States could hit 8.971 million bpd next month, growing by 58,000 barrels per day, the Energy Information Administration Continue Reading
How The California Blackouts Could Have Been Avoided
When an electric utility suspends service for whatever reason, the local economy grinds to a halt. Schools close. Hospitals turn on the back-up generators. When this happens, people are suddenly Continue Reading
US Gulf Oil Trading Weakens as Tanker Rates Skyrocket
Soaring oil-tanker costs are drying up activity in the U.S. export market as sellers are slow to lower offers and buyers are skittish, according to market participants. Some sellers have Continue Reading
The Single Biggest Threat To U.S. Oil Jobs
When earlier this year Whiting Petroleum announced it would cut a third of its workforce, the news did not make a huge splash as it was lost among other cost-cutting Continue Reading
Russia Nears 100% Compliance With Oil Production Target
Russia’s oil production inched down to 11.23 million barrels per day (bpd) in the first half of October, official Russian data showed on Wednesday, yet Moscow is still several thousand Continue Reading
What’s Really Driving Oil Prices?
The recent attack on the Abqaiq oil refinery saw Brent prices jump 20 percent in a matter of minutes, the largest spike in oil prices since 1982. Ultimately, the sharp Continue Reading
IMF slashes global growth forecast on trade war fears
Global growth is set to fall to its slowest rate since the financial crisis this year, the IMF said on Tuesday, as it warned that the self inflicted wounds of Continue Reading
Global Economy on Course for Weakest Growth Since Crisis
“At 3% growth, there is no room for policy mistakes and an urgent need for policy makers to cooperatively de-escalate trade and geopolitical tensions,” Gita Gopinath, the IMF’s chief economist, Continue Reading
The IMF’s Latest Report Could Spell Disaster For Oil Markets
The International Monetary Fund slashed its global growth forecast once again, predicting economic growth will fall to its weakest rate since the financial crisis a decade ago. The IMF said Continue Reading
Russia Troops Patrol Between Turkish and Syrian Forces, Filling an American Void
Russia asserted itself in a long-contested part of Syria on Tuesday after the United States pulled out, giving Moscow a new opportunity to press for Syrian army gains and project Continue Reading
Lebanon battles worst wildfires in decades
Firefighters and specialist aircraft in Lebanon are working to tackle a series of wildfires which have broken out during a period of high temperatures and strong winds. The blazes started Continue Reading
Exclusive: U.S. carried out secret cyber strike on Iran in wake of Saudi oil attack, officials say
The United States carried out a secret cyber operation against Iran in the wake of the Sept. 14 attacks on Saudi Arabia’s oil facilities, which Washington and Riyadh blame on Continue Reading
The World’s Largest IPO Is Finally Ready To Go
Saudi Arabia’s government is set to officially endorse this week plans to list shares in oil giant Aramco in what would be the world’s largest initial public offering (IPO) ever, Continue Reading
Iraq gets another Iran sanctions waiver from Washington
The State Department approved another 120 days exempting Iraq from U.S. sanctions on Iran, just before a prior waiver was set to expire. Iraqi Prime Minister Adil Abd al-Mahdi meets Continue Reading
Nigeria: Oil Pipeline Vandalism Rises By 115% – NNPC
The Nigerian National Petroleum Corporation (NNPC) has said that the rate at which pipelines of major oil companies are sabotaged in Nigeria has continued to increase, stating that it rose Continue Reading
Is This The End Of China’s Gas Boom?
Chinese demand for natural gas is forecast to rise by 10 percent this year, a slower growth rate than in previous years, as slowing economic growth impacts demand, state-run Sinopec Continue Reading
U.S. ‘deeply concerned’ about untrackable China ships carrying Iran oil: officials
The White House is warning Chinese shipping companies against turning off their ships’ transponders to hide Iranian oil shipments in violation of U.S. sanctions, two senior administration officials said. “We’ve Continue Reading
Doubts Persist Over China’s Commitment to U.S. Farm Purchases
Despite a Chinese promise to buy more U.S. farm products, questions remain over how much, the time frame for purchases, and what the U.S. might have to give in return. Beijing is Continue Reading
China Makes A Move On OPEC’s No.2
Following a political backlash in Iran over details of its plans to make Iran effectively a client state through various multi-layered oil and gas deals, China has switched its attention Continue Reading
South Korea’s US crude imports double in Sep, Saudi shipments drop
South Korea’s crude oil imports from the US in September more than doubled from a year earlier, while intakes of Saudi crude dropped 17.6% year on year due to the Continue Reading
US oilmen struggle to fill roles due to immigration crackdown
Johnny Vega (left), the president and CEO of Mico Services, has equipment lying idle that could generate $700,000 per month because he says he cannot find enough workers. Reuters New Continue Reading
Drilling Productivity Report
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
The Pipeline Lifeline For Texas Oil
Waterborne crude exports from Corpus Christi, TX, reached a record high of 11.379mn bbls, or 1.626mn bpd, in week ending September 27, buoyed by increased flows into the port from Continue Reading
Winter Is Coming For Oil Refiners
The U.S. sanctions on Chinese tanker firms and the increased tensions in Middle Eastern waters have spoiled what many refiners had anticipated could be a bumper Q4 quarter just ahead Continue Reading
Analysis: US crude inventories likely lower as refiners deep in maintenance
US crude inventories likely climbed last week as refiners were deep into fall maintenance, an S&P Global Platts analysis showed Tuesday. Analysts polled by Platts were looking for crude stocks Continue Reading
US Crude Exports Expected to Double by 2022
U.S. crude exports are expected to reach nearly six million bpd by 2022, according to Rystad Energy. The U.S. could see its crude oil exports nearly double by 2022, according Continue Reading
Trump administration biofuels policy angers US farmers
A brief peace between the Trump administration and US grain farmers was at risk after his environmental agency published the details of a biofuels policy they had broadly praised 11 Continue Reading
EPA Suggests Biofuel Quota Plan to Counteract Refinery Waivers
The Environmental Protection Agency proposed changes in the way it sets annual percentages spelling out how much renewable fuel refiners must blend into gasoline and diesel. (Bloomberg) — The Trump Continue Reading
Crude oil futures lower amid lingering growth concerns
Crude oil futures were lower during mid-morning trade in Asia Tuesday amid lingering global growth concerns as market participants look forward to US inventory data to be released Wednesday to Continue Reading