US GoM 2019 Summary: Part I – Exploration, Drilling and Discoveries
Introduction In many ways the US side of the Gulf of Mexico shows signs of a production basin at the end of life. Most of the sort historic of charts Continue Reading
The Texas Shale Patch Is Considering The Unthinkable
Following the 2014 Thanksgiving massacre, Saudi Arabia effectively broke up OPEC to try to kill the US shale sector by overproducing oil and sending prices plunging. It failed largely thanks Continue Reading
Offshore workers’ jobs at risk in ‘double-edged’ crisis, union warns
Oil rigs in the Cromarty Firth Oil price wars and the public health pandemic could drive the North Sea oil and gas industry over the edge, putting tens of thousands Continue Reading
Italy passes China’s coronavirus death toll, prepares to extend lockdown
Italy’s death toll from coronavirus overtook that of China, where the virus first emerged, on Thursday as hospitals said they were being overwhelmed and the government prepared to prolong emergency Continue Reading
Will Putin Risky Oil Gamble Pay Off?
Every gambler knows That the secret to survivin’ Is knowing what to throw away And knowing what to keep ‘Cause every hand’s a winner And every hand’s a loser And Continue Reading
Putin Won’t Submit to What Is Seen as Saudi Oil-Price Blackmail
Russian President Vladimir Putin will refuse to submit to what the Kremlin sees as oil blackmail from Saudi Arabia, signaling the price war that’s roiling global energy markets will continue. The Continue Reading
Power Demand Slows in Europe Along With Coronavirus Lockdowns
Electricity demand is starting to drop across Europe as factories and businesses send staff home to avoid the coronavirus. Grid operators and utilities say demand is dropping both because of social Continue Reading
Total acquires Global Wind Power France
“Total has bought Global Wind Power France, a company with a 1 GW portfolio of onshore wind projects, the French oil and gas company said Friday. This is Total’s second Continue Reading
Oil Rollercoaster Has Crude Rebounding After Drop to 18-Year Low
Oil rebounded after plunging to the lowest level in 18 years as investors weigh efforts by policy makers across the globe to strengthen economies against the impact of the coronavirus Continue Reading
Oil’s 24% Plunge in a Day Signals No End in Sight for Meltdown
Oil is ensnared in such a crisis that Wednesday’s 24% plunge in New York wasn’t even its worst day this month. Futures are now at the lowest level in almost two Continue Reading
U.S. Oil Prices Plunge to Lowest Level in 18 Years
U.S. crude prices plunged to their lowest levels in 18 years on Wednesday, as governments tightened travel restrictions across the world and the continuing Saudi-Russian price war showed no signs Continue Reading
April Could Be Worst Month Ever For Oil
Oil producers are facing their worst crisis in history, but the market is not at a bottom yet, according to several analysts. The millions of barrels of additional supply promised by Continue Reading
Markets tumble as scale of stimulus programs numbs investors
Global equities tumbled anew on Wednesday, with bond and gold prices also falling in an unusual tandem, as markets grappled with the scale of government programs aimed at softening the Continue Reading
The Oil Floating Storage Trade Is On After Crude’s Latest Tumble
The latest collapse in oil prices has put in play a lucrative trade to store crude at sea, reviving memories of the 2008-09 recession when millions of barrels were kept Continue Reading
There Aren’t Enough Containers to Keep World Trade Flowing
A shipping container shortage that’s left everything from Thai curry to Canadian peas idling in ports may be about to get a whole lot worse as China steps up its Continue Reading
Most Of The World’s Airlines Could Be Bankrupt By May
Sydney-based consultancy CAPA Centre for Aviation warned in a statement on Monday morning that most of the world’s airlines will be bankrupt by the end of May. Airline carriers are suspending routes for Continue Reading
The Global Victory Over Ozone-Killing Chemicals Is Coming Undone
Ozone-destroying chemicals once thought to be successfully banished are now making their way into the air again, slowing down our atmosphere’s recovery after those same chemicals effectively ripped a hole Continue Reading
Coronavirus Is Wiping Out Billions In Clean Energy Investments
Deep in the throes of a deadly pandemic, nations everywhere are grappling with the grim reality of a global community on lockdown. Travel bans and restrictions have soared; businesses and Continue Reading
Emirates Mulls Grounding Its A380 Fleet as Virus Spreads
Emirates, the world’s biggest long-haul airline, is looking at grounding the bulk of its 115 Airbus SE superjumbos as the coronavirus undermines global travel demand, people familiar with the situation said. Dubai-based Continue Reading
Saudi Arabia Doubles Down On Production As Prices Crash
Saudi Arabia will continue to supply a record 12.3 million barrels per day (bpd) to the oil market in the coming months, as per order from the energy ministry, the Continue Reading
Saudi energy ministry instructs Aramco to supply 12.3 mil b/d crude in coming months
Saudi Arabia’s Ministry of Energy has instructed Aramco to continue to supply 12.3 million b/d of crude to the market “during the coming months,” according to an announcement on the Continue Reading
Africa faces severe economic damage from oil crash and coronavirus
Supermarket cashiers wear protective masks in Ouagadougou, Burkina Faso, on March 13, 2020. Facing a double blow of collapsing oil prices and drastic travel shutdowns, Africa is now forecast to Continue Reading
A Tiny Country, an Oil Giant, and Their Shared Fortune
They are the odd couple of the global oil patch: Guyana is a poor former British sugar colony. Exxon Mobil is America’s largest oil company. They came to depend on Continue Reading
India’s Fuel Demand Tumbles 11 Percent
The coronavirus outbreak has restricted travel and slowed down industrial activity in India to the point of reducing overall fuel demand in the country by 10-11 percent in the first Continue Reading
China’s Rethink on Car Pollution May Signal a Retreat on Climate
Beijing’s move toward relaxing emissions standards will ratchet up concern that policymakers around the world may scale back their climate goals as they seek to rescue their economies from the ravages of Continue Reading
China’s greenhouse emissions rise 2.6% in 2019: research group
China’s greenhouse gas emissions rose 2.6% in 2019 despite a fall in the share of coal in the country’s energy mix, driven by a rise in energy consumption and greater Continue Reading
Japan Launches Its First Large-Scale Offshore Wind Farm
Moves to unlock the full potential of Japan’s offshore wind industry are underway with the announcement of a task force set up to accelerate the sector’s development. Ambitions are to Continue Reading
Beijing hit by record imported coronavirus cases, no China transmissions
Beijing saw a record number of imported coronavirus cases, data released on Thursday showed, as new local transmissions in China fell to zero, putting more pressure on the capital to Continue Reading
Chinese factories face new threat: US anti-virus controls
Factories in China, struggling to reopen after the coronavirus shut down the economy, face a new threat from U.S. anti-disease controls that might disrupt the flow of microchips and other Continue Reading
China Hits a Coronavirus Milestone: No New Local Infections
China on Thursday reported no new local infections for the first time since the coronavirus crisis began three months ago, reaching a milestone in its battle with the deadly outbreak Continue Reading
The Latest: Halliburton furloughs workers as oil prices sink
The Latest on action in the financial markets (all times local): 10:45 a.m. Halliburton will institute a mandatory furlough for 3,500 employees in Houston, Texas, beginning next week amid falling Continue Reading
Detroit automakers shutter U.S. plants in move to stop coronavirus spread
The Detroit Three automakers will shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, Continue Reading
U.S.-Canada border shuts as battle against coronavirus intensifies
The United States and Canada closed their mutual border to “non-essential traffic” on Wednesday while President Donald Trump moved to speed up medical equipment production and said hospital ships would Continue Reading
Global oil, gas producers slash spending after crude price rout
Oil and gas companies around the world aim to slash spending as crude prices have plunged due to the impact of the coronavirus and a push by Saudi Arabia and Continue Reading
Pentagon says still looking at how U.S. may respond to attack on American forces
The Pentagon said on Wednesday it was still looking at how it may respond to any attack on American forces, days after three American troops were wounded in a rocket Continue Reading
Four US banks are the world’s largest fossil fuel financers: analysis
A new analysis from a coalition of environmental groups has found that four U.S. banks are the world’s largest fossil fuel financers. The analysis , conducted by a group including Continue Reading
Call It a Layoff, a Furlough or a Cut Shift: Americans are Losing Work
Employers are cutting shifts, suspending work and starting to lay off workers as the new coronavirus devastates business across the country. Companies from restaurant operators to wedding caterers have started Continue Reading
Coronavirus Could Derail The Electric Vehicle Revolution
In just one month, the coronavirus outbreak blew out to a full-on pandemic, threatening to tip the global economy into recession and affecting every country, industry, and supply chain. Many Continue Reading
North American LNG sector under coronavirus stress
US spot gas prices plunge to multi-year lows; the Henry Hub cash price tumbles 16.10 cents Wednesday morning to $1.654/MMBtu, the lowest price since March 9, 2016, when Henry Hub Continue Reading
US weekly coal carloads fall to 10-year low: AAR
US coal carloads fell to a 10-year low 55,542 in the week ended March 14, down 5.3% from a week earlier and 23% lower than the year-ago week, the Association Continue Reading
Canada’s heavy WCS blend falls to lowest outright price on record, stressing producers
Canada’s WCS drops to below $10/b, lowest outright price on record NYMEX WTI plunge slashes value of Canadian, Bakken crudes Canadian companies cut 2020 spending New York — The outright Continue Reading
Alaska producers announce cutbacks, delay drilling
ConocoPhillips suspends drilling Possible 12-18 month price slump, company says Oil Search halts work on Pikka early development Anchorage — Alaska North Slope operators have announced spending cuts and delayed Continue Reading
North Dakota weighs plan to keep some Bakken crude off market
Faced with declining demand and potentially months of oil prices below most Bakken breakeven prices, the North Dakota Industrial Commission next week will consider new rules aimed at preventing operators Continue Reading
Sharp Slowdown in Hiring Across Houston Oil and Gas
There’s been a sharp slowdown in hiring across the Houston oil and gas industry, according to Murray Resources. There’s been a sharp slowdown in hiring across the Houston oil and Continue Reading
Big Shale Borrowers on Fast Track to Junk
The latest crash in oil prices is threatening to push $140 billion of investment-grade energy debt over the edge into junk. Despite the modest recovery after 2016, oil prices have been Continue Reading
With Oil at Record Low, Canada Is First Price-War Casualty
In the oil price war between Saudi Arabia and Russia, the first big victim is likely to be Canada. Hit by unfettered supply from the world’s top two crude exporters and Continue Reading
NYSE to Shut Trading Floors Monday After Two Are Infected
The New York Stock Exchange will temporarily shut its trading floors starting Monday and move to fully electronic trading after an employee and a person who worked on the floor Continue Reading
Harried Traders Gird for a Frantic Friday
The S&P 500 has risen or fallen at least 4% in eight straight sessions, the longest streak in history, according to Dow Jones Market Data. The Cboe Volatility Index, the Continue Reading
Truckers Facing Coronavirus Hurdles in Keeping Supply Chains Moving
Truck-stop restaurants in some states have shut dining rooms and switched to takeout service to comply with health orders aimed at controlling the spread of the virus. On Tuesday, Pennsylvania Continue Reading
Is Green Hydrogen The Future Of Energy Storage?
The United States and China are in a race to the top of the energy storage game. Last year, the energy storage industry exploded in China, with Wood Mackenzie projecting Continue Reading