99 Oil Rigs Gone And Counting: Rig Count Falls Again
The US oil and gas rig count continued to fall this week, according to Baker Hughes, falling another 3 rigs for the week, according to Baker Hughes. For oil rigs, Continue Reading
Gulf Of Mexico Oil Output Set For Another Record Year
Despite massive cuts in investment the US Gulf of Mexico is set for another year of record oil production in 2020, according to Rystad Energy. Most of the supply growth Continue Reading
Canada’s Railway Strike To Cause Billions In Damage, Create Fuel Shortages
Crude-by-rail shipments from Canada’s oil-rich province Alberta have nearly halted, while other provinces face critical shortages of propane, as the strike at Canadian National Railway drags on for a fourth Continue Reading
US Frac Sand Supplier Cuts 10% of Workforce
Frac sand supplier U.S. Silica Holdings, Inc. has cut 230 employees as it grapples with the current challenges in its energy markets. Frac sand supplier U.S. Silica Holdings, Inc. has Continue Reading
U.S. Business Activity Shows Signs of Pickup Against Sharper Global Slowdown
Business activity in the U.S. is offering signs of a pickup in late 2019, contrasting with more sluggish economic performances in some of the world’s other largest economies. Data company Continue Reading
California Restaurants Sue Berkeley Over Nat Gas Ban
The California Restaurant Association (CRA) sued on Thursday the City of Berkeley over a ban on the use of natural gas in newly built buildings, in order to protect Berkeley’s Continue Reading
Crude oil futures dip amid mixed signals on US-China talks
Crude oil futures were lower during mid-morning trade in Asia Friday as conflicting signals emerged from ongoing trade talks between the US and China, while the possibility of OPEC extending Continue Reading
Oil rises to two-month high on hopes of longer OPEC cuts, U.S.-China trade deal
Oil prices rose more than 2% on Thursday to the highest in nearly two months following a Reuters report that OPEC and its allies are likely to extend output cuts Continue Reading
Oil rises on hopes of OPEC cut extension, U.S.-China trade deal
Oil prices rose nearly 2% on Thursday following a Reuters report that OPEC and its allies are likely to extend output cuts until mid-2020, while fresh signs emerged that China Continue Reading
Vessels will avoid areas lacking cleaner maritime fuel: panel
Shortages of low-sulfur fuel oil could appear at some ports in Africa, South America and Southeast Asia next year, but most major ports around the world will have adequate supplies, Continue Reading
OPEC+ May Extend Output Cut Deal Until June 2020
OPEC and its Russia-led non-OPEC partners in the production cut deal may roll over in early December the current cuts into June 2020, as Russia will likely support the cartel’s Continue Reading
Why the world is running out of sand
Though separated by thousands of miles, these killings share an unlikely cause. They are some of the latest casualties in a growing wave of violence sparked by the struggle for Continue Reading
Iran begins reconnecting internet after shutdown over protests
Iran on Thursday began restoring internet access in the capital Tehran and a number of provinces, news agencies and residents said, after a five-day-long nationwide shutdown meant to help stifle Continue Reading
Is The Aramco IPO The Ultimate Pump And Dump?
It’s finally happening: after months of delays and mixed signals, Saudi Arabia is in the final stage of preparing for the launch of what most see as the biggest listing Continue Reading
Libya’s NOC sets sights on 1.5 mil b/d oil output target in 2020
Libya’s main oil chief has set his sights on boosting oil production to 1.50 million b/d in 2020 from current levels of 1.25 million b/d, as the country’s oil production Continue Reading
In Iran, “rage is escalating” as economic stress reaches new level
A sudden move to raise fuel prices in Iran has sparked nationwide protests over the past week and, in turn, drawn a fierce crackdown by security forces, marking some of Continue Reading
Aramco IPO Raises $20 Billion In Orders
The Saudi Aramco IPO has garnered $19.47 billion (73 billion riyals) in institutional and retail orders so far, Saudi Arabia’s Samba Financial Group reported on Thursday afternoon, according to Reuters Continue Reading
US appeals court denies rehearing in case seeking Citgo assets from Venezuela
A US appeals court Thursday denied Venezuela’s request for it to reconsider its ruling allowing a PDVSA creditor to go after US refiner Citgo, its most valuable foreign asset. The Continue Reading
China Adds Wave Of New Coal Fired Power Plants
In recent months, eco-activist Greta Thunberg who has become synonymous with the global climate change movement has made consistent appeals at the developed world, demanding an end to its evil, Continue Reading
Sydneysiders urged to stay indoors as Australian bushfire smoke blankets city
Strong winds stoked more than 100 fires across Australia’s east coast on Tuesday, blanketing Sydney in hazardous smoke and prompting health warnings for the country’s most populous city. Australia is Continue Reading
China’s Xi says he wants to work out initial trade deal with U.S.
China wants to work out an initial trade pact with the United States and has been trying to avoid a trade war, President Xi Jinping said on Friday, but is Continue Reading
Exclusive: Exxon aims to sell $25 billion of assets to focus on mega-projects – sources
Exxon Mobil ( XOM.N ) plans to sell up to $25 billion of oil and gas fields in Europe, Asia and Africa in its biggest asset sales for decades, seeking Continue Reading
Bill Gates-backed Heliogen’s solar ‘breakthrough’ could replace fossil fuels in steel and other big-polluting industries
Heliogen Heliogen believes it has the zero-carbon solar solution for the largest emitters. Heliogen, a clean energy company supported by Bill Gates and Patrick Soon-Shiong, this week claimed it has Continue Reading
U.S. Regulators Race To Save $20 Billion Of Oil & Gas Resources
The U.S. federal agencies regulating offshore leases are considering granting royalty relief to new oil and gas drilling in shallow waters in the Gulf of Mexico, in a bid to Continue Reading
EIA Predicts Higher Oil Prices And A Jump In U.S. Production
In its latest Short-Term Energy Outlook (STEO), published this month, the EIA revised up its forecast of U.S. crude oil production by 30,000 bpd, or by 0.2 percent, from the Continue Reading
Billionaire Fracking Brothers Hit Hard by Permian Holdings
Two brothers hit pay dirt during the shale boom when they sold their Texas fracking company in 2011 for $3.5 billion. But many of their more recent investments in the Continue Reading
Pelosi Is Skeptical U.S.-Canada-Mexico Trade Deal Will Pass This Year
House Speaker Nancy Pelosi cast doubt Thursday on whether Congress will be able to pass President Trump’s renegotiated North American trade agreement this year. “I’m not even sure if we Continue Reading
Personal loans are ‘growing like a weed,’ a potential warning sign for the U.S. economy
Americans are hungry for personal loans that they can use as quick cash to pay for anything from vacations to credit card debt, a potential red flag for the economy. Continue Reading
Has U.S. Shale Seen Its Profits Peak?
For the U.S. shale industry, the third quarter was more of the same: new record highs in oil production, but another quarter of negative cash flow. A sample of 38 Continue Reading
U.S. Fracking Sector Spills More Red Ink — Again Cash Flow Remains Disappointing to Debt, Equity Investors
North American energy companies kept the oil and gas flowing last quarter, but once again failed to produce cash flows to match. A cross-section of 38 publicly traded oil and Continue Reading
The U.S. Just Approved Four More LNG Projects
The U.S. Federal Energy Regulatory Commission (FERC) approved on Thursday another four liquefied natural gas (LNG) projects, which will add to the growing American LNG exports in coming years. FERC Continue Reading
US Weather Service forecast adds downside risk to gas demand, prices
Above-average temperatures across much of the continental US this winter could limit gas demand for heating, a forecast published Thursday by the US National Weather Service showed. A series of Continue Reading
Tesla unveils its Cybertruck electric pickup
At a livestreamed event in Los Angeles, Elon Musk unveiled his company’s latest creation, the electric pickup Cybertruck. The idiosyncratically designed truck will come in three powertrain versions: single-motor RWD; Continue Reading
North Sea Oil Is Doomed With Or Without Brexit
The uncertainty of the future of Brexit has left the United Kingdom’s economy in stagnation as business investment falters on the eve of the nation’s December general election. While Boris Continue Reading
UK Oil Sector May Be Hit With More Taxes
Shares in UK-listed oil companies slumped on Thursday as Britain’s main opposition party, the Labour Party, vowed to increase taxes on the sector in a pledge for a greener economy, Continue Reading
UK oil producers see Labour windfall tax as threat to North Sea
Highlights Labour manifesto expected later Thursday Take hike would hit North Sea investment UK production enjoying recent output recovery London — Proposals by the UK’s main opposition party, Labour, for Continue Reading
Russia expects to delay Nord Stream 2 launch to mid-2020: report
Moscow — The Nord Stream 2 gas pipeline directly linking Russia and Germany via the Baltic will come online in the middle of 2020, Russian Deputy Prime Minister Dmitry Kozak Continue Reading
Putin Calls U.S. Shale “Barbaric”
Vladimir Putin has spent his week cozying up to the Organization of Petroleum Exporting Countries (OPEC) and dissing the United States’ oil industry, dismissing shale oil production as a “barbaric” Continue Reading
Oil drops as U.S.-China standoff extends beyond trade
Oil prices edged lower on Thursday as fresh tensions between the United States and China over protests in Hong Kong fueled concern that a deal to end a trade war Continue Reading
Analysis: Crude futures rally on smaller-than-expected stock build, Middle East conflict
Houthis claim to have shot down fighter plane USGC crude imports near record low Refiners up crude runs, maximizing distillates New York — Crude futures rallied Wednesday, driven higher by Continue Reading
Oil Prices Higher Despite Bearish Inventory Data
Crude oil prices rose slightly after the Energy Information Administration reported a crude oil inventory build of 1.4 million barrels for the week to November 15. At 450.4 million barrels, Continue Reading
The Next Stage Of The Electric Vehicle Boom
Transportation needs to clean up its act. As we edge closer and closer to a greenhouse gas emissions tipping point toward catastrophic climate change, it becomes harder to deny that Continue Reading
There’s No Quick Fix To Global Emissions Growth
Last week the International Energy Agency (IEA) released its World Energy Outlook (WEO) 2019. The WEO projects global energy supply and demand through 2040, under three different scenario assumptions: The Continue Reading
Global Economy to Stagnate if Trade Uncertainty Persists, OECD Warns
The global economy is at risk of settling into a low-growth rut without urgent action to roll back recently erected obstacles to trade and greater investment in tackling climate change, Continue Reading
The No.1 Bottleneck For Clean Energy Tech
Today’s energy tech scene is on fire. The sector is in the midst of an absolute flurry of activity and innovation, with new and novel devices, approaches, and cutting-edge software, Continue Reading
Kuwait Strikes Mega Supply Deal With China’s Largest Refiner
China’s Sinopec, the country’s largest refiner, is building a 200,000-bpd refinery in southern China, which will use Kuwaiti crude as feedstock, unnamed sources told Reuters. The refining and petrochemical complex Continue Reading
Iran Says It Has Contained Antigovernment Protests, but Tensions Continue
Tehran used arrests, deadly force and a prolonged internet blackout to contain nationwide protests that pose the most serious test in years for Iran’s leaders. Iranian President Hassan Rouhani on Continue Reading
Can Iraq Become A World Class Petrochemicals Player?
Theoretically, there is no reason why Iraq cannot become one of the leading producers of petrochemicals in the world, given its tremendous reserves of oil and gas. Finally, with a Continue Reading
Iran’s President Blames ‘Enemies’ For Massive Fuel Hike Protests
Iranian President Hassan Rouhani said on Wednesday that Iran and its people have defeated the conspiracies of its enemies and claimed victory in the nationwide protests in the country following Continue Reading
Iraq maintains oil output through protests; ports, fields remain vulnerable
Highlights Violent clashes have rocked Iraq since Oct. Production, exports unaffected, sources say Government instability may delay oil projects London — Iraq’s crude production and exports continue at full throttle Continue Reading