OPEC Deal Could Send Oil To $70
The OPEC+ deal could push oil prices back to $70 per barrel next year, assuming all goes according to plan. The combination of raising the production cuts to 1.7 million Continue Reading
These Secretive Oil Companies Control $3 Trillion In Wealth
They control the vast majority of the world’s oil and gas assets, yet the average person has never even heard of them, outside of those that are famous for things Continue Reading
Erdogan: Turkey and Libya can conduct joint explorations in eastern Med
Turkey and Libya can carry out joint exploration operations in the eastern Mediterranean after the two sides signed a deal on maritime boundaries, Turkish President Tayyip Erdogan said on Monday Continue Reading
Libya Declares Force Majeure On Loadings From El-Feel Oilfield
Libya’s volatile production and exports may inadvertently help OPEC and its allies in supply restrictions these days, after the Libyan National Oil Corporation (NOC) has declared force majeure on crude Continue Reading
Aramco Looks To Build An LNG Fleet
Aramco’s shipping division has issued an expression of interest in the chartering of up to a dozen LNG carriers beginning in 2025, Reuters reports , citing industry sources. Liquefied natural Continue Reading
Foreign Investors Get 23% Of Saudi Aramco’s Institutional IPO
Less than a quarter, or 23 percent, of the institutional portion of Saudi Aramco’s initial public offering went to non-Saudi investors, the head of Investment Banking at National Commercial Bank, Continue Reading
Iran President Announces Russia-Backed “Budget of Resistance”
Iran’s President Hassan Rouhani announced a “budget of resistance” to U.S. sanctions, including a $5-billion loan from Russia. Reuters quoted Rouhani as saying the budget would reduce Iran’s dependence on Continue Reading
Saudi Arabia plans for lower 2020 oil revenues on OPEC cuts, global trade disputes
Saudi Arabia on Monday revealed its 2020 budget, forecasting lower oil income due to OPEC production cuts and a lesser reliance on its lifeblood industry in the coming years as Continue Reading
Libya’s Mellitah crude exports on force majeure on El Feel closure: NOC
Crude loadings from Libya’s Mellitah port are under force majeure due to the closure of the El Feel oil field, a spokesman at state-owned National Oil Corporation said Monday. The Continue Reading
What does the Aramco IPO tell us about Saudi reforms?
The excitement was palpable as bankers, one group at a time, stepped on to buses that shuttled them from Riyadh’s Ritz-Carlton hotel to a meeting with Saudi officials. Saudi Arabia, the Continue Reading
Lower Oil Production Will Cause Saudi Budget Deficit To Balloon
Saudi Arabia is predicting that its budget deficit will balloon to US$50 billion next year as low oil prices and lowered production eat into the Kingdom’s oil revenue, according an Continue Reading
Nigeria: Sell the Refineries
In the continuing efforts to revive the nation’s four refineries in Port Harcourt, Warri and Kaduna, the Federal government signed Memoranda of Understanding [MoUs] with China, India, Saudi Arabia and Continue Reading
Brazil Ignores Climate Concerns, Carries Out Offshore Drilling Plans
Brazil is carrying on with its plans to drill in the prolific pre-salt area even after UN leaders today urged countries to steadfastly curb emissions of “climate-altering” gases that stem Continue Reading
Chile speeds up coal-fired power plant closure plan, agrees to shut newest facility
Highlights AES, Engie commit to accelerated shutdown plan Chile wants to be carbon neutral by 2040 Santiago, Chile — Engie will close its newest power plant in Chile after just Continue Reading
Argentina’s YPF drills Vaca Muerta’s longest horizontal well
Argentina’s YPF has drilled the longest horizontal well to date in the oil window of Vaca Muerta, where the state-backed energy company is focusing its investment for oil and natural Continue Reading
Sydney smoke: Residents ‘choking’ on intense bushfire pollution
Many people are wearing face masks on the streets A shroud of smoke from Australia’s bushfires has caused chaos in Sydney, bringing dangerous air quality, setting off smoke alarms and Continue Reading
China Is Winning The Offshore Oil Game
Hydrocarbon-hungry China is tearing it up on the offshore oil and gas scene, and its rapidly growing global footprint is helped along because it’s not unconcerned with compliance, transparency, corruption Continue Reading
Storage tankers off-Singapore decline on strong LSFO demand ahead of IMO 2020: sources
The number of tankers floating around the Singapore Strait have seen a steady decline in recent weeks as low sulfur material gets moved to landed storage to meet rising demand Continue Reading
China’s Nov natural gas imports rise 3.3% on year
China’s natural gas imports, comprising LNG and pipeline gas, increased 3.3% year on year to 9.455 million mt in November, preliminary data released Sunday by the General Administration of Customs Continue Reading
SUVs Are Worse for the Climate Than You Ever Imagined
This story originally appeared on Bulletin of the Atomic Scientists and is part of the Climate Desk collaboration. When I pull into a parking lot in my Toyota 4Runner, I Continue Reading
The Energy 202: Majority of U.S. states slashed environmental budgets over past decade, new study finds
The Trump administration has promised to give individual states more power to set their own strategies for curbing air and water pollution. But states may not be up to the Continue Reading
Volkswagen charged with violating vehicle emission standards in Canada
German automaker Volkswagen AG ( VOWG_p.DE ) on Monday was charged with importing nearly 128,000 vehicles into Canada contravening the country’s environmental legislation, a Canadian government agency said. Volkswagen was Continue Reading
Americans broadly accept climate science, but many are fuzzy on the details
Americans remain shaky on the details of climate science even as they have grown increasingly concerned about human activity warming the Earth, according to a national poll by The Washington Continue Reading
Canada’s Oil Crisis Isn’t As Bad As It Seems
Any investor or prospective investor googling “Alberta”–Canada’s key oil-producing province–will likely give up before clicking any further, at this point. The results will be a string of bleaker-than-bleak forecasts for Continue Reading
Bearish US thermal coal export market driven by unsupportive pricing: Platts Analytics
Possible ban on coal exports in Richmond, California Few additional exports expected in 2020 Houston — Expectations for US thermal coal exports are bearish, with further declines forecast, Platts Analytics Continue Reading
Alaska predicts near-term oil production decline
Decrease to 434,300 b/d seen by fiscal 2024 New projects expected to push production back up Small North Slope oil price declines seen in near term Anchorage, Alaska — Alaska’s Continue Reading
Texas Deepwater Oil Port Project Advances
Enbridge will gain an option to purchase a stake in Enterprise’s Sea Port Oil Terminal if the offshore Texas project wins a deepwater port license. Enbridge Inc. and Enterprise Products Continue Reading
Onshore Wind Capacity In The US Tops 100 GW
Total installed onshore wind power capacity in the United States has already exceeded 100 gigawatts (GW), with more than half of that nameplate capacity installed over the past seven years, Continue Reading
Oil prices slip as weak China exports highlight trade war impact
Oil prices fell on Monday after data showed Chinese exports declined for a fourth straight month, sending jitters through a market already concerned about damage being done to global demand Continue Reading
The Danger Of Deeper OPEC+ Cuts
OPEC+ agreed to cut production by 500,000 bpd, sending oil prices higher on Friday. During mid-day trading, WTI was just shy of $60 per barrel, and Brent moved closer to Continue Reading
How OPEC Plans To Keep Rogue Oil Producers In Check
OPEC’s “whatever it takes” strategy has so far meant that Saudi Arabia would make additional production cuts where non-complying members failed. Some members are banking on OPEC employing that strategy Continue Reading
Iran’s new budget has Russian loan, US sanctions continuing in new year
Iranian President Hassan Rouhani on Sunday proposed next year’s budget of about $115 billion, including a $5 billion loan from Russia and continuation of US sanctions against the country’s oil Continue Reading
Iran outlines budget to resist U.S. sanctions as oil exports plunge
Iran’s president presented a draft state budget of about $39 billion to parliament on Sunday, saying it was designed to resist U.S. sanctions by limiting dependence on oil exports. Officials Continue Reading
United States and Iran swap prisoners in rare act of cooperation
The United States and Iran each freed a prisoner on Saturday in a rare act of cooperation between two longtime foes whose ties have worsened since President Donald Trump took Continue Reading
Forget The Hype, Aramco Shares May be Valued At Zero Next Year
This week will see the onset of full trading activity in the shares of Saudi Arabia’s flagship oil company, Aramco. Through a combination of wooing local retail investors via preferential Continue Reading
Oman’s economy contracted 1.9% in first half of 2019: central bank
Oman’s economy contracted by 1.9% in nominal terms in the first half of the year as the non-oil sector shrank, the central bank said on Monday. The Gulf state’s finances Continue Reading
India moves toward IEA membership with ‘strategic partnership’
The members of the International Energy Agency have agreed to establish a “strategic partnership” with India that would serve as a pathway for the South Asian country’s eventual membership, the Continue Reading
Wildfires Turn Sydney’s Surroundings Into an Inextinguishable Orange Furnace
Australia’s biggest city has been shrouded in hazardous smoke for the past week, as wildfires burning across the country’s drought-stricken east coast are—in some cases—becoming too big to put out. Continue Reading
As Water Runs Low, Can Life in the Outback Go On?
Fleur Magick Dennis has stopped showering every day, allowed her vegetable patch to die and told her four sons to let the dishes pile up. Sometimes, all her family has Continue Reading
China says hopes it can reach trade agreement with U.S. as soon as possible
China said on Monday that it hoped to make a trade deal with the United States as soon as possible, amid intense discussions before fresh U.S. tariffs on Chinese imports Continue Reading
China launches long-awaited National Pipeline Company Dec 9
China launched its long-awaited national pipeline company Monday, state-owned Xinhua news agency reported, a move that is set to expand infrastructure access to energy industry stakeholders. The new company is Continue Reading
China’s Jan-Nov coal imports rise 10% on year to 299 mil mt; exceed 2018 total
China imported 299.3 million mt of coal, including thermal and coking coal, over January-November, up 10.2% year on year, exceeding its 2018 full-year import volume of 281 million mt, General Continue Reading
China November exports fall, but import growth hints of recovering demand
China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. war but growth in imports may be a sign that Beijing’s stimulus Continue Reading
Study finds rapid health benefits following air pollution reduction
Reductions in air pollution yielded fast and significant impacts on health-outcomes, as well as decreases in all-cause morbidity, according to new open-access research published in Annals of the American Thoracic Continue Reading
Electric-car battery prices dropped 13% in 2019, will reach $100/kwh in 2023
Although electric cars haven’t quite taken off in the 2010s the way some had anticipated, sheer economics are pointing to the 2020s as the time when EVs will find that Continue Reading
French government says it is determined on pension reform as strikes continue
PARIS (Reuters) – The French government said it would see through planned pension reforms but said the new system that has sparked nationwide strikes would be introduced gradually and public Continue Reading
France ready to take Trump’s tariff threat to WTO: Le Maire
France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over Continue Reading
Surging exports lend a fillip to flagging German economy
Germany’s exports rose unexpectedly in October, with demand from beyond Europe offering a boost to the continent’s largest economy, which has teetered on the brink of recession in recent quarters. Continue Reading
EU approves 3.2 billion euro state aid for battery research
The European Commission approved on Monday 3.2 billion euros ($3.53 billion) of state aid from seven European Union countries for research and innovation in battery technology. The approval is for Continue Reading
Oil Rig Count Slides Amid OPEC Optimism
The US oil and gas rig count continued to fall this week, according to Baker Hughes, falling by 3 rigs for the week, according to Baker Hughes, with no obvious Continue Reading