Oil industry faces biggest crisis in 100 years
It is no exaggeration to say the oil industry faces its gravest crisis of the past 100 years. As western economies go into hibernation, hoping to snuff out the first wave Continue Reading
Surveys show coronavirus pandemic savaging global economy
Evidence of the devastation wreaked on the global economy by the coronavirus pandemic mounted on Tuesday as activity surveys for March from Australia and Japan showed record falls, with surveys Continue Reading
Oil Majors Slash Spending Amid Price Plunge
Shell became the latest oil major to announce significant spending cuts to protect its balance sheet from crashing oil prices, joining other majors such as Exxon in the drive to Continue Reading
Coal Is World’s Most Expensive Fuel After Oil’s Brutal Collapse
Coal, the dirtiest and usually the cheapest option for energy, is now the world’s most expensive fossil fuel. Oil’s epic collapse over the past month means the global crude benchmark is Continue Reading
Scientists just discovered a massive new vulnerability in the Antarctic ice sheet
NASA’s IceBridge mission flew over the Denman Glacier region, in East Antarctica, on Oct. 30, 2019. The glacier is creeping down a slope that plunges into extreme depths, new research Continue Reading
Saudi Arabia imposes curfew to curb coronavirus, UAE halts passenger flights
Saudi Arabia will impose a nationwide curfew starting on Monday after reporting a jump of almost a quarter in coronavirus cases, while the United Arab Emirates will suspend all passenger Continue Reading
Saudi Arabia’s Deficit To Soar As Oil Price War Rages On
Saudi Arabia could book a budget deficit of as much as $61 billion this year under the double blow of the coronavirus pandemic and the global oil glut, research from Continue Reading
Middle East seen as haven for big energy projects as N. America, Arctic reel from oil price crash
The Middle East is pushing ahead with most of its top oil and gas projects planned as higher cost regions including the US, Canada and the Arctic suffer the brunt Continue Reading
UAE’s Sharjah National Oil puts LNG project on hold to focus on gas discovery
UAE’s Sharjah National Oil Corp. (SNOC) is putting its LNG project with Uniper on hold to focus on its first onshore natural gas discovery in 37 years, along with exploration Continue Reading
Locust Swarms, Some 3 Times the Size of New York City, Are Eating Their Way Across Two Continents
Climate change is worsening the largest plague of the crop-killing insects in 50 years, threatening famine in Africa, the Middle East and the Indian subcontinent. Millions of locusts swarm in Continue Reading