Angola Set To Finally Boost Its Oil Production
After years of declines in crude oil production, one of OPEC’s largest African producers, Angola, is finally about to see its production rising in the coming years, with several new Continue Reading
China’s Economic Growth Slows to 6.1% as Trade and Business Confidence Suffer
The U.S. and China signed a deal marking a truce in the trade war between the two nations, with President Trump saying it was a “momentous step” toward a future Continue Reading
Japanese Only Operational Nuclear Reactor Shut, Increasing Fuel Costs
A Japanese high court has ordered local utility Shikoku Electric Power Company to continue idling its only operational nuclear reactor until the company provides a satisfactory proof that the reactor Continue Reading
Floods, road closures in Australia as storms lash some bushfire-hit regions
Parts of Australia’s east coast were hit by severe storms on Saturday, dousing some of the bushfires that have devastated the region for months but causing road closures and flash Continue Reading
The $119 Billion Sea Wall That Could Defend New York … or Not
Picture a storm charging toward New York City, pushing a surge of seawater like the one that flooded the region during Hurricane Sandy. But this time, man-made islands with retractable Continue Reading
Oil Rig Count Rises For The First Time In 4 Weeks
Oil bulls will get no help this week before the week’s end, with Baker Hughes reporting that the number of oil and gas rigs in the US increased this week, Continue Reading
Why Oilfield Service Giants Are Dumping Assets
The three biggest oilfield service providers have all announced asset sales as they adapt to an environment featuring laxer demand for their services, Reuters reports . Halliburton is selling its Continue Reading
US Oil Production To Grow While Energy Emissions Are Set To Drop
While U.S. crude oil production is set to continue to rise, energy-related carbon dioxide (CO2) emissions in America are expected to have dropped last year and to continue falling through Continue Reading
Anticipating a slowdown in the US oil patch, Schlumberger charts new course
Forecasting a significant contraction in North American oil and gas activity for 2020, Schlumberger Friday unveiled a 2020 strategy focused on expanding margins by shrinking its less profitable business lines. Continue Reading
Analysis: Coal plants’ share of AESO generation continues slide, as gas’ share surges
Coal-fired generation continued to decrease its share of the Alberta Electric System Operator’s supply in 2019, largely being replaced by natural gas generation, a trend that is likely to continue Continue Reading
Trans Mountain Oil Pipeline Wins Legal Battle
PM Justin Trudeau’s bid to complete the Trans Mountain oil pipeline won a major victory Thursday as Canada’s top court rejected an appeal brought by British Columbia aimed at challenging Continue Reading
US Adds 15 Oil, Gas Rigs
The U.S. rig count increased for the first time this year as the nation added 14 oil rigs and one gas rig, according to weekly data from Baker Hughes Co. Continue Reading
NY Governor Cuomo announces “Make-Ready” program for EV charging stations; >20K EV rebates approved
New York Governor Andrew M. Cuomo announced that the New York State Department of Public Service issued a report recommending the establishment of a statewide utility-supported “Make-Ready” Program that would Continue Reading
Norway data: December oil output hits 2.1 million b/d on Johan Sverdrup boost
Norway’s oil production surged by nearly 100,000 b/d in December, to 2.08 million b/d, as the Johan Sverdrup field propelled a significant recovery in the country’s output, data from the Continue Reading
Putin’s Powerplay Could Jeopardize The OPEC Deal
In classic Putin style, the Russian president is now trying to push through reforms that would weaken the future presidency at the expense of the future prime ministerial post in Continue Reading
Huge New Field Sends Norway’s Oil Production To 9-Year-High
The start-up of the massive Johan Sverdrup oilfield sent Norway’s oil production rising to a nine-year high in December 2019, beating the authorities’ forecast by 12.7 percent, data from the Continue Reading
Crude oil futures steady on lack of fresh drivers
Crude oil futures were steady in Asian mid-morning trade Friday amid a lack of fresh market drivers, as the Phase 1 signing of the US-China trade deal has been priced Continue Reading
Oil steady as sluggish China growth offsets trade deal optimism
Oil prices were steady on Friday as reports of sluggish economic growth in China, the world’s biggest crude importer, raised concerns about fuel demand which countered optimism from the signing Continue Reading
Two Reasons Why Oil Prices Rose Today
Oil prices were trading up over 1% on Thursday afternoon, the latest development in the current oil market that can’t decide whether oil prices should be up or down. Today’s Continue Reading
Oil ends higher, as trade deal progress spurs energy demand hopes
Oil rose about 1% on Thursday, as progress on another major trade deal fed optimism that energy demand will grow in 2020. The U.S. Senate approved a revamp of the Continue Reading
Oil Will Stay Above $50 Per Barrel In 2020
We begin 2020 with the stock market again testing record highs. We just finished a year in which oil prices rose by more than 30 percent. However, natural gas prices Continue Reading
Oil Glut Overshadows Geopolitical Risk In 2020
The risk of oil supply disruptions from around the world has diminished, and rising non-OPEC production provides a “solid base from which to react to any escalation in geopolitical tension.” Continue Reading
IEA: There Won’t Be A Low-Sulfur Fuel Oil Crisis
Supply of shipping fuels compliant with the stricter, low-sulfur, regulations are growing at a fast pace and are at adequate levels at the key hubs around the world, the International Continue Reading
IEA sees well-supplied oil market despite slower shale growth
The oil market is likely to stay well supplied in the near term with oil stocks growing in the first half of 2020 despite deeper production cuts from the OPEC Continue Reading
Street network patterns reveal global trend towards increasing urban sprawl
New research from McGill University and the University of California, Santa Cruz has found that the local streets of the world’s cities are becoming less connected, a global trend that Continue Reading
Five Clean Energy Trends To Watch In 2020
At the start of 2020, analysts bravely stepped out on a limb to predict how the turbulent energy market and energy systems will evolve at the beginning of the new Continue Reading
Climate change will reshape markets, McKinsey warns
Financial markets could face upheaval if the risks of climate change are not taken more seriously, McKinsey warned in a report on Thursday. Even climate-conscious investors, companies and regulators could be Continue Reading
OPEC December 2019 Oil Production Data
All OPEC data for the charts below are from the OPEC Monthly Oil Market Report https://momr.opec.org/pdf-download/ OPEC crude oil production continued to slide in December. OPEC production was down 161,000 Continue Reading
U.S. allows time to wind down deals hit by fresh Iran sanctions
The U.S. Treasury Department said on Thursday it will allow for a 90-day period to wind down transactions in certain sectors of Iran’s economy hit with fresh U.S. sanctions last Continue Reading
How U.S. sanctions are paralyzing the Iranian economy
Prices of consumer goods in Iran, including food, have risen sharply in the past few years as the country faces sanctions from the United States and its allies. The Trump Continue Reading
How Vulnerable Is Iraqi Oil Production?
Just as Iraq has increased its crude oil production and export capacity over the past decade, the recent flare-up of tensions in the Middle East suggest that OPEC’s second-largest oil Continue Reading
Is Iraq Too Risky For Oil Majors?
The US and Iran seem to be have stepped back from the brink of armed conflict, at least for now, but many oil and gas companies nevertheless face serious decisions Continue Reading
Egypt 2019 thermal coal imports rise 31% on cement sector demand
Egypt imported 6.32 million mt of thermal coal in 2019, up 31% on the previous year, according to official data from the Port of Alexandria, boosted by strong demand from Continue Reading
Iraq is ‘potentially vulnerable’ oil supplier, IEA says
Iraq is a “potentially vulnerable” oil supplier and heightened security concerns about OPEC’s second-biggest crude producer could make it more difficult to ensure sufficient spare production capacity, the International Energy Continue Reading
Iraq’s oil supplies ‘vulnerable’ as strategic clout grows
Highlights OPEC’s number two is growing in strategic importance Iraq pumping around 4.6 million b/d Security concerns continue to threaten key projects Dubai — Iraq is a “potentially vulnerable” oil Continue Reading
Total To Drill World’s Deepest Well In Angola
Total will drill an ultra deepwater well off the coast of Angola that will be the deepest in the world, Bloomberg reports , citing Maersk Drilling, which has been hired Continue Reading
‘We can’t wait’: Maldives desperate for funds as islands risk going under
The tropical Maldives may lose entire islands unless it can quickly access cheap financing to fight the impact of climate change, its foreign minister said. The archipelago’s former president Mohamed Continue Reading
India May Significantly Boost U.S. Oil Imports
India and the United States will discuss India’s energy security and the Asian country buying increased volumes of U.S. crude oil when U.S. President Donald Trump and Indian Prime Minister Continue Reading
Argentina oil workers threaten to strike in Vaca Muerta over layoffs
A leading oil union in Neuquen, Argentina’s biggest oil basin, is threatening to go on strike if companies lay off even one worker, a situation that could hit crude and Continue Reading
The next China trade battle could be over electric cars
As Tesla inaugurates a $2 billion electric-car factory in China this month, a brief stroll around an upscale shopping district here shows the company already has plenty of local competition. Continue Reading
South Korea To Boost US Oil Imports In 2020
As South Korea is looking to reduce its over-reliance on crude oil imports from the Middle East, it has increased its oil imports from the United States in recent years, Continue Reading
China posts weakest growth in 29 years as trade war bites, but ends 2019 on better note
China’s economic growth cooled to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States, and more stimulus is expected this year as Continue Reading
Exclusive: Volkswagen to buy 20% of Chinese battery maker Guoxuan amid electric push – sources
Volkswagen AG is set to take a 20% stake in Chinese electric vehicle battery maker Guoxuan High-tech Co Ltd, two sources told Reuters, as the German firm accelerates its electric Continue Reading
China’s Economic Growth Slows to 6.1% as Trade and Business Confidence Suffer
Chinese economic growth slowed to 6.1% last year, according to figures released Friday, as sagging trade and business confidence pulled the closely watched reading to its lowest level in nearly Continue Reading
Births in China Fall to Lowest Level in Nearly Six Decades
The number of babies born in China last year fell to a nearly six-decade low, exacerbating a looming demographic crisis that is set to reshape the world’s most populous nation and Continue Reading
China’s Improving Economic Data Masks Deeper Problems
China’s factories are beginning to hum again. Its consumers are opening their wallets. Its trade tensions with the United States are easing. On paper, the world’s second-largest economy looks as if it Continue Reading
China launches fresh restrictions for thermal coal imports: sources
China has reportedly launched fresh restrictions on thermal coal imports this year, with tightened customs declarations at certain ports effective Friday, market sources said. Caofeidian port in northern China and Continue Reading
Debunkering of high sulfur marine fuel picks up pace in Hong Kong ahead of carriage ban in Mar
The number of vessels at the port of Hong Kong requesting for the debunkering of high sulfur bunker fuel has risen significantly this month, market sources said. Receive daily email Continue Reading
China speeds up infrastructure funding, should support steel demand
China has accelerated the issuance of local government special bonds since the start of January, in an effort to speed up infrastructure construction to offset downward pressure on China’s economic Continue Reading
China’s Largest Utility Company Warns “Growth To Decelerate Sharply Through 2024”
Ahead of tonight’s key China data dump, State Grid, China’s largest utility company, has warned the rate of economic growth in the country could plunge to 4% within the next Continue Reading