OPEC November Production Data
The OPEC data for the charts below are from the OPEC Monthly Oil Market Report . and is thousand barrels per day. OPEC 14 was down 193,000 barrels per day Continue Reading
US sanctions on Iranian oil impeding foreign investment, slowing product exports: official
Iran’s oil export revenues have fallen to zero US sees Iranian attempts to evade sanctions Hook gives no sign US open to sanctions relief US sanctions on Iran’s oil exports Continue Reading
US getting close to big trade deal with China, Trump says
The US is getting very close to a big trade deal with China, US President Donald Trump tweeted Thursday, as the two countries negotiate the phase-one deal that aims to Continue Reading
U.S. sets China trade deal terms, sources say, but Beijing mum
Washington has set its terms for a trade deal with China, offering to suspend some tariffs on Chinese goods and cut others in exchange for Beijing’s buying more American farm Continue Reading
Analysis: Global Fossil-Fuel Emissions up 0.6% in 2019 due to China
After increasing at the fastest rate for seven years in 2018, global CO2 emissions are set to rise much more slowly this year – but will, nevertheless, reach another record Continue Reading
Permian Drillers Are Struggling To Keep Output Flat
Newer wells in the Permian see their oil and gas production declining much faster than older wells, and operators will need to drill a large number of wells just to Continue Reading
“Base Decline” Rate of Oil and Gas Output in Permian Basin has Increased Dramatically Because of Recent Growth; Operators Must Drill More Wells to Maintain Production Levels, IHS Markit Says
Oil and gas operators in the Permian Basin, the most prolific hydrocarbon resource basin in North America, will have to drill substantially more wells just to maintain current production levels Continue Reading
Surging US solar installations set records in Q3 2019: report
SEIA/Mackenzie project 13 GW of new solar for 2019 5.4 GW of new utility-scale announced in Texas Houston — Data released Thursday in the Solar Energy Industries Association third-quarter 2019 Continue Reading
Virginia governor proposes $733 million for environmental, clean energy initiatives
Northam plans legislation for Virginia to join RGGI Funding would create office for offshore wind Virginia Governor Ralph Northam is proposing to add $733 million in the state budget to Continue Reading
Chevron sanctions high-pressure Anchor project for deepwater US Gulf of Mexico
First high-pressure project for the US Gulf of Mexico Facility design capacity of 75,000 b/d of crude and 28 MMcf/d of natural gas First oil expected in 2024 New York Continue Reading
US law must change for oil, gas infrastructure to keep up with demand: report
Overlapping, duplicative requirements slowing permitting Industry looking for more clarity from Congress Legal challenges putting pipeline projects at-risk Washington — The US government needs to reform its environmental regulations or Continue Reading
California, 7 states and DC commit to faster transition to zero-emission trucks and buses; next step is formal agreement
California is joining with seven other states and the District of Columbia in committing to develop an action plan to put hundreds of thousands more zero-emission trucks and buses on their Continue Reading
IHI Wins Study for Texas Gas-to-Gasoline Plant
Primus and an undisclosed petchems JV partner commissioned the FEED study. IHI E&C International Corp. has won a front-end engineering and design (FEED) study for a first-of-its-kind natural gas-to-gasoline plant Continue Reading
Russia’s Economy Is Signaling An Oil Price Rally
The Russian bear is a decidedly different animal. Even as the oil price outlook has become clearly bearish, Russia knows little fear. It’s defying the oil price hibernation with bullish economic Continue Reading
US energy chief calls out Russia as House passes Nord Stream 2 sanctions
US Energy Secretary Dan Brouillette took aim at Russia on Thursday, claiming it has “weaponized” its oil and natural gas supply while portraying an increase in US LNG exports as Continue Reading
BYD secures Europe’s largest single order for electric buses to date: 259 eBuses for Keolis
BYD has secured the largest single order to date for full battery-electric buses in Europe in a deal with Keolis Nederland BV, the Dutch subsidiary of global public transport provider, Continue Reading
EU carbon neutrality: Leaders agree 2050 target without Poland
European Council President Charles Michel said member states had different starting points European Union leaders meeting in Brussels have agreed to make the currently 28-member bloc carbon neutral by 2050. Continue Reading
Crude oil futures rise on OPEC report, ahead of US-China trade talks
Crude oil futures were higher during mid-morning trade in Asia Thursday, following a smaller-than-expected build in US crude inventory and coupled with OPEC’s latest report on its production levels, as Continue Reading
Oil prices rise on OPEC deficit forecast
Oil prices rose on Thursday, recouping some of the losses from the previous session that followed a surprise increase in U.S. crude inventories, as the market mood switched to relief Continue Reading
Crude settles lower following US stock builds
USGC leads crude stock build on higher imports Cushing crude inventories tightening Refinery runs expected to rise Crude futures fell Wednesday after the US Energy Information Administration reported crude and Continue Reading
Oil Inventories to Rise Despite OPEC Cuts, IEA Says
In its closely watched oil-market report, the IEA said it was trimming its 2020 non-OPEC oil supply growth forecast by 200,000 barrels a day to 2.1 million barrels. However, it Continue Reading
Splits over climate policy threaten to derail UN summit in Madrid
The UN climate talks in Madrid are at risk of stalling over the question of how to create a global carbon trading market, a highly divisive issue that has splintered Continue Reading
Shipping industry sails into unknown with new pollution rules
Faced with imminent new global marine pollution rules, shipping companies and insurers are puzzling over the risks. To reduce emissions of toxic sulfur that cause premature deaths, shipowners who have Continue Reading
Big Oil’s Wishlist: The Hottest Oil Auctions In 2020
As the new year promises to ring in what most suspect will be lackluster oil demand and moderate oil prices despite OPEC’s beefier production cuts, oil auctions for the upcoming Continue Reading
OPEC Reduced Oil Production Ahead Of Deeper Cuts Decision
OPEC’s crude oil production declined by 193,000 bpd in November from October, as the cartel’s leader Saudi Arabia cut production ahead of the OPEC+ meeting, Iraq tried to fall in Continue Reading
OPEC analysis shows full output cut commitment needed to keep oil market balanced
OPEC will need tight discipline with its new, more stringent production quotas in the first quarter of 2020 if it wants to keep the oil market balanced and prevent prices Continue Reading
U.S. Turns Up Pressure on Iran With Sanctions on Transportation Firms
Secretary of State Mike Pompeo announced Wednesday that the United States plans to impose new sanctions on Iran’s largest shipping company and a major airline for what he said were Continue Reading
The Uncomfortable Truth Behind Iraq’s Violent Protests
Recent protests in Iraq have demanded an end to rampant state corruption, the removal of foreign influences from Iraqi politics and the proper provision of public services. State-Society Relations in Continue Reading
Cyprus To Continue Gas Field Development Despite Israel’s Objection
Cyprus will proceed with the development of a natural gas field in Cypriot waters in the Mediterranean despite the fact that Israel has advised the field’s developers not to begin Continue Reading
Iraqi crude output rebounds in Nov, exports rise: SOMO
Iraqi crude oil production rose by 19,000 b/d on the month to 4.595 million b/d in November, the country’s State Oil Marketing Organization said Wednesday, amid higher exports from both Continue Reading
Saudi Aramco tops Crown Prince’s $2 trillion goal as shares surge
Saudi Aramco topped the $2 trillion target sought by Saudi leader Crown Prince Mohammed bin Salman on Thursday as its shares clocked up the second day of gains, defying some Continue Reading
U.S. imposes new sanctions on Iran airline over proliferation
The United States on Wednesday imposed new sanctions on Iran’s biggest airline and its shipping industry, accusing them of transporting lethal aid from Iran to Yemen and weapons of mass Continue Reading
Iran-backed attacks in Iraq risks uncontrollable escalation – U.S. official
A senior U.S. military official said on Wednesday attacks by Iranian-backed groups on bases hosting U.S. forces in Iraq were gathering pace and becoming more sophisticated, pushing all sides closer Continue Reading
Climate change: Methane pulse detected from South Sudan wetlands
The Sudd: Microbes in saturated soils will produce methane Scientists think they can now explain at least part of the recent growth in methane (CH4) levels in the atmosphere. Researchers, Continue Reading
1.5 Billion Barrels Of Oil Discovered Offshore Ghana
A Ghana-based private company and its local partners have discovered 1.5 billion barrels of oil in place offshore the West African country, the company Springfield E&P said on Wednesday. Springfield Continue Reading
Can Argentina Replicate The U.S. Shale Boom?
Drillers in Argentina have sought for years to replicate the success of the U.S. shale boom in its huge oil and gas deposits in the Vaca Muerta shale play. The Continue Reading
Why Venezuela’s Production Rebound Is So Significant For Oil Markets
Venezuela’s PDVSA produced between 926,000 and 965,000 bpd of crude oil last month, up by as much as 20 percent from the previous month when the average was 761,000 bpd, Continue Reading
Mexico’s major oil find could strangle foreign investment for years: analyst
Pemex’s massive new oil discovery at the Quesqui field might paradoxically prove to be the worst news of 2019 for Mexico’s energy sector, as it will be used to justify Continue Reading
Mexico’s demand for US natural gas poised for growth, but risks remain
US gas exports to Mexico could see significant upside in 2020, thanks to recent infrastructure upgrades and growing, latent demand south of the border. Any potential growth in southbound volumes, Continue Reading
China auto sales set for third year of decline -industry association
China’s auto market, the world’s biggest, is set for a third year of contraction with a 2% decline in sales next year, hit by a weaker economy and U.S.-China trade Continue Reading
China’s Companies Binged on Debt. Now They Can’t Pay the Bill.
China’s companies racked up some towering bills as they expanded, and the world’s investors and lenders rushed to offer them even more money. Now the bills are coming due, and Continue Reading
Should The West Be Worried About The Power Of Siberia Pipeline?
A massive work of infrastructure has just been brought online, and its geopolitical implications are explosive. Last week, the presidents of Russia and China jointly inaugurated one of the biggest Continue Reading
Analysis: Global Fossil-Fuel Emissions up 0.6% in 2019 due to China
After increasing at the fastest rate for seven years in 2018, global CO2 emissions are set to rise much more slowly this year – but will, nevertheless, reach another record Continue Reading
Northern California Power Outages Could Soar If Aging Lines Aren’t Replaced, PG&E Study Finds
PG&E’s current rate of electric-line replacement falls far short of what’s needed to prevent a surge of failures due to the effects of aging, according to the analysis by researchers Continue Reading
Chevron’s $10bn writedown highlights shale stress
When Chevron snapped up Atlas Energy in 2011to join the natural gas land rush in the Appalachian shale region of the US, its then vice-chairman lauded the $4.3bn deal as Continue Reading
Waning Diesel Demand: A Red Flag For The US Economy?
The U.S. economy is decelerating into an election year and could print below-trend growth by 2H20. Manufacturing, employment, and inflation have all been in downturns for one year, hence why Continue Reading
Scientific Breakthrough Could Upend Lithium Market
Lithium-ion battery recycling is a big topic in energy right now. Recycling lithium itself, the element that makes these batteries what they are, has not garnered so much attention because Continue Reading
Chevron Eyes $11B Writedown Amid Weak Gas Prices
More than half of it is from its Appalachia natural gas assets after a slump in prices. (Bloomberg) — Chevron Corp. expects to write down as much as $11 billion Continue Reading
In an aerial survey, Times reporters found six methane “super emitters.” The gray line indicates their flight path.
Do you see the methane leak billowing from this tank? Vast amounts of methane are escaping from oil and gas sites nationwide, worsening global warming, even as the Trump administration Continue Reading
Natural Gas Boom Fizzles as a U.S. Glut Sinks Profits
A decade ago, natural gas was heralded as the fuel of the future. In shale fields across the country, hydraulic fracturing uncorked a lucrative new source of supply. Energy giants Continue Reading