Why Exxon’s Stock Could Hit $100 In 2020
Exxon investors’ long-time suffering may end in the New Year. Oil and gas giant ExxonMobil (NYSE: XOM) could soon go from bleeding cash to gushing profits, with some serious upside. Continue Reading
Chevron’s $11 Billion Write Down Is A Warning For The Oil Industry
Chevron said that it would write down $11 billion in assets in the fourth quarter, much of which is tied to natural gas in Appalachia. The impairment is a sign Continue Reading
EPIC’s new Corpus Christi dock loads first US crude export cargo; second expected Saturday: company
The first US crude export that loaded earlier this week at a newly converted grain dock in Corpus Christi, Texas, was spotted Wednesday bound for the United Kingdom. Receive daily Continue Reading
The Finance 202: USMCA isn’t expected to have a big impact on the economy
President Trump is on track to secure a political victory by forging a breakthrough with congressional Democrats to update the North American trade pact. But in a sign the agreement Continue Reading
The Energy 202: ExxonMobil just won a big climate court case in New York. But it’s not in the clear yet.
ExxonMobil just beat the state of New York in a closely-watched climate fraud case. But other state and local governments suing the oil and natural gas company say they remain Continue Reading
Aeva shrinks size, cost of crucial self-driving sensor; deepens VW ties
Aeva Inc said it has shrunk the main components of its “lidar” self-driving car sensor onto a single chip, a move it expects to dramatically lower the price of a Continue Reading
Who Will Fund This $157 Billion Mega Oil Project?
The head of Russia’s largest oil firm, Rosneft, has pitched a massive Arctic oil project to Japanese companies in Tokyo, looking for foreign investment into the project estimated to cost Continue Reading
EU Unveils ‘Green Deal’ Plan to Get Europe Carbon Neutral by 2050
European Commission President Ursula von der Leyen unveils Europe’s “Green Deal” plan to fight climate change on Dec. 11, 2019, at the European Commission headquarters in Brussels. Credit: Aris Oikonomou/AFP/Getty Continue Reading
German EV charging points up 48% on year at 23,840: BDEW
The number of electric vehicle charge points in Germany has risen 48% this year to 23,840, German utility lobby group BDEW said Wednesday. Utilities operate three out of four public Continue Reading
Euro zone industrial production falls as expected in October
Euro zone industrial production fell as expected in October because of a decline in the output of capital goods used for investment, estimates from the European Union’s statistics office Eurostat Continue Reading
Crude oil futures dip on bearish US stocks data, US-China talks
Crude oil futures were lower during mid-morning trade in Asia Wednesday after a bearish report on US crude inventories and as market participants remained on the sidelines ahead of the Continue Reading
Two Bullish Factors Pushing Oil Prices Higher
Oil prices were up on Tuesday as Washington agreed to delay the scheduled December 15th tariff hike on China. The impact of the OPEC+ production cut agreement on markets has Continue Reading
Surprise Crude Build Threatens Oil Rally
The American Petroleum Institute (API) has estimated a crude oil inventory build of 1.41 million barrels for the week ending December 4, compared to analyst expectations of a 2.763-million-barrel draw Continue Reading
Climate Change Is Ravaging the Arctic, Report Finds
Temperatures in the Arctic region remained near record highs this year, according to a report issued on Tuesday, leading to low summer sea ice, cascading impacts on the regional food Continue Reading
Report finds sweeping changes underway across the Arctic.
Permafrost, seen at the top of the cliff, melts into the Kolyma River outside Zyryanka, Russia, on July 4. Melting permafrost is altering Siberia’s landscape and economy. (Michael Robinson Chavez/The Continue Reading
Climate change: Greenland ice melt ‘is accelerating’
Greenland is losing ice seven times faster than it was in the 1990s. The assessment comes from an international team of polar scientists who’ve reviewed all the satellite observations over Continue Reading
UN: Renewables Are Needed Now More Than Ever
Last week, the Secretary General of the United Nations’ Climate Change Conference COP25 told the gathered world leaders in his audience that “By the end of the coming decade we Continue Reading
High mountain ‘water towers’ are in trouble
HIGH IN THE Himalaya, near the base of the Gangotri glacier, water burbles along a narrow river. Pebbles, carried in the small river’s flow, pling as they carom downstream. This Continue Reading
Extreme weather patterns are raising the risk of a global food crisis, and climate change will make this worse
Eadi Gul, 5, at the Khorastan Camp outside the capital of Badghis province in Afghanistan, populated by a mix of ethnic Tajiks from the nearby village of Tutak and Pashtuns Continue Reading
The OPEC+ Deal Was The First Step To $100 Oil
The price of oil has been trapped in the mid-$50s because of fear: 1) Fear that OPEC+ would break ranks and flood the global market with oil. 2) Fear of Continue Reading
Creating The OPEC Of Natural Gas
With global gas supplies growing faster than demand and forecasters warning of a deepening glut , it was only a matter of time before analysts began talking about a gas Continue Reading
Will The Aramco IPO Help Saudi Arabia Meet Its Vision 2030 Goals?
Announcing the development on November 3, Saudi Aramco said that the offer period will run from November 17 to December 4, and the IPO would be priced on December 5. Continue Reading
This Exploration Blind Spot Offers Great Promise
Based on currently available geophysical data, the Lebanese government estimates that the offshore oil and gas frontier areas in the East Mediterranean may hold around 25 trillion cubic feet of Continue Reading
Russian Oil Major Returns To Libya After 5 Year Hiatus
The National Oil Corporation of Libya has announced that Russia’s Tatneft has returned to its exploration project in the North African country, in the Northwest. “We are very pleased with Continue Reading
Prisoner swap increases likelihood of US-Iran talks, sanctions relief: analysts
Trump administration ‘hopeful’ that Iran will agree to negotiations Iran may pursue more swaps aimed at easing oil sanctions US, Iran do not agree on sanctions preconditions This weekend’s US-Iran Continue Reading
Boost for Saudi Arabia as Aramco shares surge 10% on debut
Saudi Aramco ( 2222.SE ) shares surged the maximum permitted 10% above their IPO price on their Riyadh stock market debut on Wednesday, closing in on the $2 trillion valuation Continue Reading
China Quietly Ramps Up Oil Production In Iran
The supergiant Azadegan oil field, comprising major north and south sites, is as important to Iran’s overall strategic plan to survive the current sanctions environment and to prosper when they Continue Reading
Nigeria: As Dangote Sets Pace in Refinery Construction
Chineme Okafor writes that recent developments in the 650,000 barrels a day (bd) refinery project of Dangote Group suggest the project could define how best to build largescale refineries in Continue Reading
Argentina’s Shale Boom Hits New Milestone
YPF, the Argentine state energy company, has drilled the longest horizontal oil well lateral, at 3,890 meters, or more than 12,700 feet, in the Vaca Muerta shale play, S&P Global Continue Reading
Caracas Caves, Releases Jailed American Citgo Executives
Venezuela has released six Citgo executives who were arrested and sent to jail on charges of corruption two years ago, Reuters reports , citing unnamed sources. The prison sentences have Continue Reading
Pemex reserve discovery boosts Mexico’s oil ambitions
Quesqui field holds estimated 500 million barrel 3P reserve Crude production forecast to reach 110,000 b/d by 2021 Denver — Pemex’s largest hydrocarbon reserve discovery in 30 years is boosting Continue Reading
Hazardous Sydney smoke turns up heat in Australia’s climate politics
Devastating bushfires that blanketed Australia’s largest city with hazardous smoke this week have heightened public anger and raised political pressure on the government to do more to battle climate change. Continue Reading
China’s new energy vehicle output continues to slump, lithium prices trend lower
China’s new energy vehicle output fell 36.9% year on year to 110,000 units on November, continuing year-on-year declines posted each month since July, but up 15.8% year from October, the Continue Reading
Short-Term Energy Outlook
Global liquid fuels Brent crude oil spot prices averaged $63 per barrel (b) in November, up $3/b from October. EIA forecasts Brent spot prices will average $61/b in 2020, down Continue Reading
US EIA lowers Q1 Henry Hub spot gas price forecast by 11 cents to $2.62/MMBtu
US EIA raises expected Q1 gas marketed production by 280 MMcf/d to 102.2 Bcf/d US EIA raises Q1 gas demand forecast by 2.14 Bcf/d to 104.54 Bcf/d Washington — The Continue Reading
US EIA sees $2/b bump in light crude prices next year on IMO 2020
Residual fuel sulfur spread more than doubles since July Demand for low-sulfur fuels drives US refinery utilization higher US retail gasoline, diesel prices to remain steady in 2020 Washington — Continue Reading
Another Gulf Coast LNG Project Hits Milestone
Train 1 of Freeport LNG has begun commercial operations. One week after announcing a milestone on a Louisiana liquefied natural gas (LNG) export project , McDermott International, Inc. on Monday Continue Reading
Chevron, Facing Fossil Fuels Glut, Takes $10 Billion Charge
The second-largest U.S. oil company lowered its forecast for future commodity prices, and said that as a result, it was reducing the value of production from one of its offshore Continue Reading
The $20 Trillion Threat That Could Trigger The Next Financial Meltdown
Trillions of dollars of market value could go up in smoke due to climate change. The damage hits the global economy in multiple ways. The first is the most obvious. Continue Reading
Exxon Found Not Guilty of Fraud in Climate-Change Accounting Case
In his 55-page ruling, New York State Supreme Court Justice Barry Ostrager said the attorney general’s office had failed to prove the company violated either the Martin Act, a broad Continue Reading
Exxon Mobil scores win in New York climate change lawsuit
Exxon Mobil Corp won a major victory in a closely-watched lawsuit on Tuesday when a judge ruled that the company did not defraud investors out of up to $1.6 billion Continue Reading
US lawmakers agree bill to force Trump on Nord Stream 2 sanctions
The US House and Senate armed services committees have agreed on a defence bill that would force the Trump administration to sanction companies that help Gazprom, the Russian state-owned gas Continue Reading
US Moves To Sanction Russia-led Gas Pipeline Nord Stream 2
U.S. lawmakers have included sanctions on companies helping Russia’s gas giant Gazprom to complete the Nord Stream 2 pipeline project in the National Defense Authorization Act for the U.S. defense Continue Reading
Denmark plans $30 billion offshore wind island that could power 10 million homes
Denmark is moving forward with plans to build an artificial island tying in power from offshore wind farms of up to 10 gigawatts (GW) of capacity, more than enough to Continue Reading
Tesla’s German plant to produce 500,000 cars a year: Bild
Tesla plans to build 500,000 electric vehicles a year at its new factory on the outskirts of Berlin, Germany’s Bild newspaper reported on Wednesday. Last month, Tesla Chief Executive Elon Continue Reading
KLM purchases Neste SAF for flights out of Schiphol
KLM has purchased sustainable aviation fuel (SAF) for flights out of Amsterdam Airport Schiphol. The sustainable fuel is produced by Neste from used cooking oil and will reduce CO 2 Continue Reading
Oil prices drop as trade war concerns haunt market
Oil prices slipped for a second straight session on Tuesday as a slowing global demand outlook outweighed OPEC’s deal with associated producers last week to deepen output cuts in 2020. Continue Reading
Goldman Sachs Sees Higher Oil Prices In 2020
Goldman Sachs lifted its crude oil price forecast for 2020 on the grounds that OPEC’s deeper production cuts will help the market avoid oversupply, Bloomberg reports, citing an emailed report Continue Reading
Recession Ahead: An Overview of Our Predicament
Many people have the impression that recessions come from financial missteps, such as the US subprime loan fiasco. If energy is involved at all, the problem comes from high oil Continue Reading
Is This The Only Way To Make Nuclear Energy Work?
The need for efficient, affordable, and scalable alternatives to traditional fossil fuels is more pressing than ever. While clean energy alternatives are already existent and abundant, however, there has been Continue Reading