The European Parliament’s energy committee on Wednesday voted to reject an objection to the EU’s recently published Projects of Common Interest (PCI) list. Receive daily email alerts, subscriber notes & Continue Reading
Crude oil futures were steady to lower in mid-morning trade in Asia Tuesday as ample supply countered concerns over unrest in key Middle Eastern producer nations Libya and Iraq. At Continue Reading
Asian seaborne thermal coal traders voiced concerns over near-term demand as more utilities consider the feasibility of a coal-to-gas switching amid languishing LNG prices, sources told S&P Global Platts on Continue Reading
Oil prices rose to their highest in more than a week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing Continue Reading
After the spike in oil prices in the first days of 2020 on the back of increased tension between the U.S. and Iran, money managers liquidated some of the long Continue Reading
Even before catastrophic fires broke out in Australia in late fall, climate change was at the top of the list of priorities at the 50th anniversary of the World Economic Continue Reading
The IMF has trimmed its forecasts for global economic growth this year, casting a shadow over the opening of the World Economic Forum in the Swiss resort of Davos. Organizers of Continue Reading
The shipping industry must spend at least $1 trillion on new fuel technology if it is to meet UN emissions targets by 2050. According to a new study by experts Continue Reading
Somebody big has got their analysis of the 2020 oil market flat wrong. That’s the bottom line from a comparison of supply-and-demand forecasts provided by OPEC, the International Energy Agency Continue Reading
The largest oil and gas companies for years have lived beyond their means and paid more money to investors than they can reasonably afford, according to a new report. The Continue Reading
Iran said on Monday it could quit the global nuclear Non-Proliferation Treaty (NPT) if European countries refer it to the U.N. Security Council over a nuclear agreement, a move that Continue Reading
An Iranian lawmaker announced a 3 million dollar award to “whoever kills Trump”, Iranian semi-official News agency reported. “On behalf of people of Kerman province, we will pay 3 million Continue Reading
Tribal groups loyal to General Khalifa Haftar have blocked oil exports from eastern Libyan ports and have also seized several oil fields in the south ahead of peace talks between Continue Reading
OPEC member Libya was producing between 1.15 million and 1.20 million b/d last week before the blockade began. Libyan crude production averaged 1.06 million b/d in 2019, according to S&P Continue Reading
As world powers back a cease-fire in Libya to end months of fighting, a recent injection of mercenaries by rival foreign backers threatens to unravel efforts to establish a long-term Continue Reading
Libya’s oil operations have been dealt a blow during the last 24 hours, after local Libyan tribes, allies of Libya’s General Haftar’s LNA, disrupted production at the El Feel and Continue Reading
Escalating protests in Iraq have led to a halt in production at the Al Ahdab oil field, which pumps some 70,000 bpd, Bloomberg reports , citing an unnamed source from Continue Reading
The parliament of Jordan has voted to approve a draft law that would ban natural gas imports from Israel. According to local media reports, the parliament voted to ban the Continue Reading
Over and above its OPEC+ deal quota – with which it has only ever been marginally acquainted, at best – Iraq’s ambition to dramatically increase its oil production is now Continue Reading
Saudi Arabia’s economy is expected to grow by 1.9 percent this year, the International Monetary Fund (IMF) said on Monday, revising down its forecast of 2.2-percent growth from just three Continue Reading
At least five people died and dozens of others were rushed to hospital late on Sunday after an oil pipeline exploded in Nigeria in a blast that the authorities believe Continue Reading
Somalia has invited Turkey to carry out offshore oil exploration works in the territorial waters of the African country, Turkish President Recep Tayyip Erdogan said on Monday, as reported by Continue Reading
In the wake of the dastard act that threw major parts of Lagos into mourning Sunday evening, the Nigerian National Petroleum Corporation (NNPC) has revealed that the numbers of pipeline Continue Reading
The United States Treasury Department granted Chevron another three-month sanction waiver to continue operating in Venezuela, Reuters reported Sunday, with the expiry date of this latest extension set for April Continue Reading
There will be more action by the United States to support Venezuelan opposition leader Juan Guaido, U.S. Secretary of State Mike Pompeo said on Monday, after meeting with Guaido on Continue Reading
The world’s newest oil frontier, Guyana, has officially shipped its very first batch of crude oil on Monday, according to TankerTrackers.com—a major oil-first for the South American country. The first Continue Reading
The US government is hoping a high-profile international tour by Venezuelan opposition leader Juan Guaido will re-inject momentum into its protracted campaign to unseat President Nicolas Maduro. Guaido turned up Continue Reading
An oil rig in Guanabara Bay, Brazil, June 2015 On January 7, the oil and gas companies Apache Corporation and Total SA announced a major oil find off the coast Continue Reading
It was the latest wild turn in this most extreme of Australian summers. Large hailstones have rained down on Sydney, Melbourne and Canberra over the past two days, destroying vehicles, punching Continue Reading
China National Petroleum Corporation (CNPC) has found crude oil and natural gas in the deepest well drilled in Asia’s onshore, striking hydrocarbons in a pre-salt layer for the first time in Continue Reading
With millions of Asians traveling on Tuesday for the Lunar New Year holiday, authorities in China confirmed that a new virus could be spread through human contact, reporting 15 medical Continue Reading
What happens to world markets when China buys an additional $50 billion-plus in U.S. energy products over the next two years? For some analysts, as spectacular as this may sound Continue Reading
The United States is sharpening its focus on enforcement of the IMO 2020 fuel sulfur emissions cap, which could result in harsh penalties for vessel operators caught attempting to sidestep Continue Reading
Occidental Petroleum’s (NYSE:OXY) management has been pummeled since the deal with Anadarko Petroleum was announced last spring. Investors and stock analysts alike decried the purchase as being a “value destroyer,” Continue Reading
Multibillion dollar gas export projects that are central to the Trump administration’s push for “energy dominance” are locked in a battle for survival as prices fall and the market faces Continue Reading
The Trump administration is about to distribute billions of dollars to coastal states mainly in the South to help steel them against natural disasters worsened by climate change. But states Continue Reading
U.S. natural gas prices fell below $2/MMBtu on Friday for the first time in nearly four years. The gas market is suffering from oversupply, as the shale industry has drilled Continue Reading
Tough times are continuing for Alberta’s oil and gas country, with the amount of unpaid property taxes that oil and gas companies owe to Alberta towns has more than doubled Continue Reading
In 1982 there were over 250 operating crude oil refineries in the United States; that number declined to 132 by 2019, according to data from the US Department of Energy Continue Reading
Total vehicle miles traveled (VMT) by all vehicles in the United States vary greatly across the individual states. The latest annual data from the Federal Highway Administration show that in Continue Reading
MOSCOW (Reuters) – President Vladimir Putin accelerated a shake-up of Russia’s political system on Monday, submitting a constitutional reform blueprint to parliament that will create a new center of power Continue Reading
European business news recently announced the latest German government initiative to decarbonize its nation’s electric power generation by closing all coal fired generating stations by 2038. The plan received the Continue Reading
France could shut down its next two nuclear reactors in 2025-2026 if market conditions are right, earlier than expected as it presses ahead with plans to close 14 reactors by Continue Reading
Credit applications by eurozone companies unexpectedly fell last quarter for the first time in six years, despite a further reduction in the European Central Bank’s main interest rate, an ECB Continue Reading
At 10:58 am Singapore time (0258 GMT), front-month March ICE Brent crude futures rose 67 cents/b (1.03%) from Friday’s settle at $65.52/b, while the NYMEX February light sweet crude contract Continue Reading
Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude Continue Reading
World stocks held near record highs on Monday as generally better data and earnings bolstered sentiment, while oil prices hit their highest in over a week after two large crude Continue Reading
The largest publicly-traded oil companies in the world have been “living beyond their means” for years. Since 2010, the five largest oil majors have spent vastly more than they have Continue Reading
The International Energy Agency on Monday called on oil and gas companies to accelerate efforts to help the transition to cleaner energies, while at the same time conceding that investment Continue Reading
Growing climate concerns and commitments to clean energy have done little to curb worldwide oil demand , which in the third quarter of 2019 increased by 1.1 million barrels per Continue Reading
