Oil slips on weaker Chinese demand, traders await OPEC+ cuts
Oil prices slipped on Monday on weaker Chinese oil demand in the wake of the coronavirus outbreak and as traders waited to see if Russia would join other producers in Continue Reading
Oil prices heading for ‘mid $40s’ a barrel in few weeks on demand: Starfuels brokerage
Oil prices will probably drop to the “mid-$40s” a barrel in the next couple of weeks because of weak demand, according to Matt Stanley, director of Starfuels commodities brokerage. Supply Continue Reading
The threats to energy security have changed
Despite plentiful supplies of fuel and low prices, energy security is a global concern. The fear 30 or 40 years ago was that supplies would be cut off by Opec Continue Reading
Goodbye, January — goodbye, another heat record
If you found last month unusually balmy for the middle of winter, you’re not alone. According to the Copernicus Climate Change Service, January was the hottest one of its kind Continue Reading
OPEC’s Oil Production Plunges, But It May Not Be Enough
OPEC saw its crude oil production dip by nearly 500,000 bpd in January from December, overcomplying with the collective cut, the monthly S&P Global Platts survey showed on Friday, but Continue Reading
OPEC+ Cuts Fail To Boost Oil Prices
After deliberations, Russia appears set to support Saudi Arabia in the push for deeper production cuts. OPEC’s Joint Technical Committee met on Tuesday, and it was only supposed to be Continue Reading
Iran awards $1.3 bil contract to develop 2 oil fields
Iran awarded a $1.3 billion contract to a domestic company for improved oil recovery at two onshore oil fields in the southwest part of the country, oil minister Bijan Zanganeh Continue Reading
Azerbaijan says early OPEC+ meeting unlikely; Iran backs more output cuts
Azerbaijan energy minister Parviz Shahbazov said it’s unlikely the OPEC+ coalition of oil producers will move up their meeting that’s scheduled for early March. Receive daily email alerts, subscriber notes Continue Reading
For Thousands of Years, Egypt Controlled the Nile. A New Dam Threatens That.
The Egyptian farmer stood in his dust-blown field, lamenting his fortune. A few years ago, wheat and tomato-filled greenhouses carpeted the land. Now the desert was creeping in. “Look,” he Continue Reading
Iran’s Gas Industry on the Verge of Collapse, but Rising Gas Prices Are on the Way
The collapse of Iran’s gas industry has put the country in a situation where, in addition to a significant reduction in gas exports, inside Iran, citizens are also facing a Continue Reading
Port chaos leaves Liberian fuel pumps dry
Liberians have faced long queues at petrol pumps for nearly two weeks as sloppy bookkeeping and poor port infrastructure have triggered economically damaging fuel shortages. Incorrect fuel-reserve figures in the Continue Reading
As China suspends fuel contracts, Indian firms go bargain hunting
Firms tap window of opportunity to avail distress deals on crude, LNG meant for consumption in China A novel coronavirus outbreak in China has caused oil demand to plunge in Continue Reading
‘Enemy of mankind’: Coronavirus deaths top SARS as China returns to work
China raised the death toll from its coronavirus outbreak to 811 on Sunday, passing the number killed globally by the SARS epidemic, as authorities made plans for millions of people Continue Reading
China’s Shenzhen denies blocking Apple supplier Foxconn from resuming production
Local Chinese authorities have not blocked Apple ( AAPL.O ) supplier Foxconn ( 2317.TW ) from resuming production amid a coronavirus outbreak, they said in a statement on Sunday, denying Continue Reading
China seeks to restart economy despite coronavirus outbreak
Many businesses across China are set to remain closed on Monday, despite the government’s efforts to restart the world’s second-largest economy following a deadly outbreak of coronavirus. China’s State Council has Continue Reading
Coronavirus Live Updates: Deaths in China Surpass Toll From SARS
The new coronavirus has killed more people than SARS did. The coronavirus death toll in China has risen to 811, surpassing the toll from the SARS epidemic of 2002-3, according Continue Reading
China’s mask production recovering as work resumption quickens
China’s mask production capacity is recovering steadily as producers race to resume production in full gear to ensure enough supply for control of the novel coronavirus outbreak. About 73 percent of Continue Reading
China slowly gets back to work as nearly 100 more die from coronavirus
Workers began trickling back to offices and factories around China on Monday as the government eased some restrictions on working during a coronavirus epidemic that has killed more than 900 Continue Reading
Heavy rains bring both relief and new dangers to bushfire-hit Australia
A four-day downpour across Australia’s east coast has brought relief after months of devastating bushfires and years of drought, but also widespread storm damage and forecasts of more wild weather Continue Reading
GM to restart production in China from Feb. 15
General Motors said on Monday it would restart production in from Feb. 15 in China, where the country is dealing with a coronavirus epidemic that has killed more than 900 Continue Reading
China’s first-quarter smartphone sales may halve due to coronavirus: analysts
China’s smartphone sales may plunge by as much as 50% in the first quarter, as many retail shops have closed for an extended period and production has yet to fully Continue Reading
Coronavirus Updates: Cases on Cruise Ship Double; 97 Die in One Day in China
Coronavirus cases on a cruise ship in Japan nearly double, surpassing 130. An additional 66 cases of the new coronavirus have been confirmed on a cruise ship quarantined in Yokohama, Continue Reading
Tackling air pollution may accidentally trigger serious health issues
Cleaning up dirty air might sometimes make things worse Imaginechina Limited/Alamy Cities tackling one major air pollutant risk inadvertently making things worse by fuelling the growth of another, potentially more Continue Reading
U.S. energy secretary hopes Mexico, Canada will help export American coal
U.S. Energy Secretary Dan Brouillette said on Friday that Canada and Mexico could help export U.S. coal to Asia to get around the blocking of shipments by West Coast states Continue Reading
Self-driving car company Nuro wins federal safety approval for grocery delivery robot
Delivery robot company Nuro won the first federal safety approval for a purpose-built self-driving vehicle, advancing the young company’s plans to cart groceries around neighborhoods and reaching a milestone for Continue Reading
Note to EIA: Major shale operator sending cash elsewhere
John Hess, CEO of Hess Corporation, a large U.S.-based independent oil producer, recently told a Houston audience where he’s putting the company’s money these days : Offshore drilling. That should Continue Reading
Supermajors Are On The Prowl For Fresh Deals In The Permian
There hasn’t been much Permian-centric M&A follow-through from last spring’s buy-out of Anadarko Petroleum by Occidental, (NYSE: OXY). At the time, the sages and pundits were widely predicting an M&A Continue Reading
This Philadephia refinery is the country’s worst benzene polluter. Trump wants to keep it open.
Before it exploded last June, Philadelphia Energy Solutions (PES) — the largest crude oil refinery on the East Coast — was processing 335,000 barrels of oil each day. It was Continue Reading
Tesla can get support for German factory: Economy Minister
Tesla could get state subsidies in its plan to set up a gigafactory in Germany, the country’s economy minister told a weekly newspaper. “In my conversations with (Tesla CEO) Elon Continue Reading
Fusion Startups Step In to Realize Decades-Old Clean Power Dream
If Nick Hawker’s computer models are right, the snap of a pistol shrimp’s claw holds the secret to boundless clean energy. Mr. Hawker’s company, First Light Fusion , is one Continue Reading
4Q 2019: EU diesel demand continues to drop while gasoline gains; plug-ins up 80.5% y-o-y
In the last quarter of 2019, EU demand for diesel cars further decreased , dropping to 29.5% of new-car registrations, according to data from ACEA, the European Automobile Manufacturers Association. Continue Reading
New passenger car registrations down 7.3% in Germany in January, but BEVs up 61.2% to account for 3% of all new reg
In Germany (the largest car market in Europe), the 2020 registration year started with 246,300 newly registered passenger cars—7.3% less than in January 2019, according to figures from the German Continue Reading
Oil dips as Russia needs time to mull more OPEC+ supply cuts
Oil prices edged lower on Friday as Russia said it needed more time before committing to output cuts sought by other large producers as the coronavirus outbreak fans worries about Continue Reading
Oil Set For Fifth Consecutive Weekly Drop As Coronavirus Hits Demand
Oil prices were on track for a fifth weekly decline early on Friday, weighed down by the loss of demand in China amid the coronavirus outbreak while OPEC and Russia Continue Reading
Are Oil Markets Overreacting To The Coronavirus?
In a world that has been reshaped by Twitter, 24-hour news networks and an endless war between media outlets for your attention and the ad dollars that come with it, Continue Reading
Oil Falls Again As OPEC+ Struggles To Strike A Deal
Oil prices continue to slide as the coronavirus dominates headlines. Friday, February 7th, 2020 Oil prices fell back again on Friday, with WTI declining to $50 and Brent dipping below Continue Reading
Antarctica logs hottest temperature on record with a reading of 18.3C
Antarctica has logged its hottest temperature on record, with an Argentinian research station thermometer reading 18.3C, beating the previous record by 0.8C. The reading, taken at Esperanza on the northern Continue Reading
Bumblebee Decline Linked With Extreme Heat Waves
The the carder bee, seen here gathering pollen on an alpine silver thistle in the Austrian Alps, is one species of bumblebee that’s moving north in a warming climate. Credit: Continue Reading
JRC: 76.5% of world’s population in urban areas as of 2015
More than three-quarters (76%) of the world’s population now live in urban areas, according to the European Commission’s Joint Research Center’s (JRC’s) new Atlas of the Human Planet 2019 . Continue Reading
Oil Under Pressure As Russia Refuses To Cut Production. NFP In Focus
US equities recorded timid gains on Thursday, while stocks in Asia edged lower on renewed anxieties about the spreading coronavirus as a Chinese doctor in Wuhan was reported dead and Continue Reading
Russia Supports Deeper OPEC+ Output Cuts
Russia will support deeper oil production cuts across OPEC and its partners, Foreign Minister Sergey Lavrov told media at an event in Mexico. “We support this idea,” the top diplomat Continue Reading
OPEC overdelivers on oil cuts but coronavirus fears complicate outlook
OPEC’s crude production plunged by 470,000 b/d in January, according to the latest S&P Global Platts survey, with Saudi discipline and a Libyan blockade bringing the group’s output down to Continue Reading
Gas contract feud highlights Kurdistan’s political rivalries
Internal divisions in Iraq’s autonomous Kurdistan Regional Government (KRG) have broken into the open, as rival factions feud over a contract to transport liquefied petroleum gas (LPG) from the Khor Continue Reading
Russia to boost Venezuela ties amid US pressure
Mr Lavrov (left) was speaking after talks with President Maduro (right) in Caracas Russia has pledged to boost military and economic co-operation with Venezuela to help the South American nation Continue Reading
Spotlight: Coronavirus stalls Chinese manufacturing industry and slams polymer demand
Carmakers located in China have extended shutdowns amid the coronavirus Hubei, the centre of the outbreak, is home to 10% of Chinese car manufacturing capacity Polypropylene is the most widely Continue Reading
Australia celebrates as heavy rains dampen huge bushfires
Much of Australia’s wildfire-ravaged east coast was drenched on Friday by the biggest rainfall in almost 20 years, dousing some of the most dangerous blazes and providing welcome relief to Continue Reading
Coronavirus is the Black Swan that might finally sink the markets
Pedestrians in Hong Kong attempt to protect themselves with face masks. Many global experts say it may already be too late to stop the spread of coronavirus Credit: JEROME FAVRE/REX Continue Reading
As China returns to work, it is hardly business as usual
The Chinese economy will sputter towards normal on Monday after the coronavirus outbreak forced an extended holiday, although numerous stores and factories will remain shut and many white-collar employees will Continue Reading
China blocks Foxconn plan to restart factories over virus worries: Nikkei
Chinese authorities have blocked a plan by Apple ( AAPL.O ) supplier Foxconn ( 2317.TW ) to resume production in China from Monday, the Nikkei business daily reported on Saturday, Continue Reading
China’s Leader Wages a War on Two Fronts—Viral and Political
Faced with a coronavirus outbreak that so far has killed 630 people and infected more than 31,000 world-wide, China’s President Xi Jinping has mobilized the vast state machinery. China has Continue Reading