German officials signaled there won’t be a significant further easing of restrictions on public life for at least another week as data showed coronavirus infections in Europe’s biggest economy rose Continue Reading
Royal Dutch Shell PLC cut its dividend for the first time since World War II after first-quarter profit fell by nearly half as the coronavirus pandemic hit. Energy demand and Continue Reading
Norway, Europe’s largest oil producer, will cut production by 250,000 b/d in June and by 134,000 b/d in the second half of the year as part of a broad international Continue Reading
Highlights Non-LNG upstream output could fall to 1.75 mil boe/d Cuts first quarter dividend, suspends share buybacks Reports 48% slide in adjusted Q1 earnings London — Shell said Thursday that Continue Reading
Crude oil futures were higher in mid-morning trade in Asia Wednesday amid a marginal improvement in risk appetite, though analysts said prices were likely to remain volatile in the near Continue Reading
Oil clawed back its recent heavy losses as output cuts from major producers seek to stymie an unprecedented global glut. Futures rose by almost $2 in New York to around $14 a barrel. Russian oil Continue Reading
Oil fell following wild price swings set off when a major index tracked by billions of dollars in funds said it would exit near-term contracts for fear prices may turn Continue Reading
Oil fell following wild price swings set off when a major index tracked by billions of dollars in funds said it would exit near-term contracts for fear prices may turn Continue Reading
WTI is witnessing wild price swings as U.S. producers send their crude to the Strategic Petroleum Reserve because commercial storage tanks are close to reaching capacity. Oilprice.com’s Michael Kern has Continue Reading
Global oil storage space is running low, production is not falling quickly enough, and yet last week hedge funds bought a record amount of WTI contracts, Reuters’ John Kemp said Continue Reading
In the last couple of months, the global energy industry has been flipped on its head. As the novel coronavirus pandemic ravaged economies around the world, the energy industry took Continue Reading
You can add coal to the list of global commodities struggling during the pandemic. Prices haven’t yet turned negative (like oil), but coronavirus is accelerating the demise of the dirtiest Continue Reading
Windows that let in light and produce electricity at the same time: a recipe for a perfect life and an idea as fascinating as unattainable. At least until recently. Making Continue Reading
Solar and onshore wind power are now the cheapest new sources of electricity in at least two-thirds of the world’s population, further threatening the two fossil-fuel stalwarts — coal and Continue Reading
We’re only in late April, but already Mohammed bin Salman’s banner year is unraveling. After a failed boycott of neighboring Qatar, a disastrous military campaign in Yemen and international condemnation over the gruesome Continue Reading
Oil product stockpiles at the Port of Fujairah rose 6.1% week on week to 24.65 million barrels Monday, marking the highest level in two weeks, according to data exclusively obtained Continue Reading
The oil price crash isn’t getting any easier for Nigeria. Late on Monday, the nation released the prices for most of its crude oil grades for sale in May. The figures Continue Reading
Zimbabwe’s Rio Energy Ltd., a unit of RioZim Ltd., will build a 2,100 megawatt thermal power plant with China Gezhouba Group Corp in northern Zimbabwe at a projected cost of $3 billion, Rio Energy Continue Reading
India was nearing 30,000 coronavirus infections on Tuesday, second only to China in Asia, a steady rise that would make it difficult to lift a nearly six-week lockdown that ends Continue Reading
He was the son of a petroleum worker in a nation that honors its oil company with an annual holiday. When Andrés Manuel López Obrador became president, he made it a Continue Reading
Mexico’s Pemex will receive additional fiscal benefits from the government as part of a series of measures to bolster its finances during the oil price rout, the state-owned oil and Continue Reading
A Venezuelan commission set up to study the restructuring of state PDVSA had recommended lifting state control over all its operations and is calling for private national and international capital Continue Reading
A tidal-stream turbine with a diameter bigger than the length of a tractor trailer was installed in China for a project involving Simec Atlantis Energy Ltd., China Shipbuilding Industry Company Continue Reading
An unemployed young college graduate has stopped buying new sneakers. A clothing store clerk gave up his gym membership. An events planner, his pay cut by four-fifths, now moonlights as Continue Reading
SAIC Motor Corp. , the biggest automaker in China, signaled the coronavirus outbreak is set to hit its profitability for months to come after earnings slumped in the first quarter Continue Reading
Adding to growing evidence that the novel coronavirus can spread through air, scientists have identified genetic markers of the virus in airborne droplets, many with diameters smaller than one-ten-thousandth of Continue Reading
The Washington Post is providing this important information about the coronavirus for free. For more free coverage of the coronavirus pandemic, sign up for our daily Coronavirus Updates newsletter where Continue Reading
A crisis California didn’t foresee — the Covid-19 pandemic — is complicating preparations for one that arrives with a vengeance every year. With wildfire season on the horizon, state officials have Continue Reading
The American Petroleum Institute (API) estimated on Tuesday another large crude oil inventory build of 9.978 million barrels for the week ending April 24 as the demand destruction continues and Continue Reading
The Regional Municipality of Wood Buffalo, which includes Fort McMurray – the hub of Alberta’s oil sands business – has issued a mandatory evacuation order for all of downtown Fort Continue Reading
As Canadian oil firms prepare to start reporting what would surely be bleak Q1 earnings and short-term outlooks, analysts expect that the companies will announce curtailments in production to the Continue Reading
U.S. oil companies have started sending oil to the Strategic Petroleum Reserve, Bloomberg reports, citing a Department of Energy official. According to the official, since the start of April, some Continue Reading
It’s the latest example of an oil and gas deal running into snags amid the unprecedented plunge in crude prices. (Bloomberg) — Continental Resources Inc. is being sued by a Continue Reading
Plans for a swift reopening of malls, factories and other businesses accelerated Tuesday, but they quickly collided with the reality that persuading workers and consumers to overlook their coronavirus fears and Continue Reading
It’s game-over for most of the U.S. oil industry. Prices have collapsed and storage is nearly full. The only option for many producers is to shut in their wells. That Continue Reading
Mr Putin visited coronavirus patients at a hospital in Moscow last month Russian President Vladimir Putin has admitted that there is a shortage of protective kit for medics as the Continue Reading
Russia, one of the world’s top wheat shippers, was among the first nations that moved to guard domestic food supplies amid the coronavirus pandemic. The window closed swiftly on the Continue Reading
Even though the new OPEC+ deal is set to come into force this week, oil prices will not rise much in the near future because of very high global inventories, Continue Reading
Another big fall in oil prices dragged hordes of petrocurrencies under on Tuesday but even an HSBC warning of mounting bad credit and a near 80% plunge in BP’s profits Continue Reading
Oil prices plunged for the second day in a row on Tuesday on concerns about dwindling global capacity to store more crude and fears that demand may be slow to Continue Reading
Crude extended its slide to near $10 a barrel as exchange-traded funds and indexes flee the volatility of nearby futures contracts following the market’s plunge below zero last week. Futures fell in Continue Reading
The United States Oil Fund (USO) that was responsible for last Monday’s oil crash into negative territory is once again shaking up oil markets, and WTI is now down more Continue Reading
Oil fell after the biggest oil ETF said it would sell out of its June WTI futures position as physical oil storage levels continue to balloon. Futures in New York slid Continue Reading
The oil market is in freefall. The sector collapsed into pandemonium this week when the West Texas Intermediate (WTI) oil price benchmark fell below zero for this first time in Continue Reading
Asia is home to 60 percent of the global population and is the largest consumer of total primary energy, oil, coal, and renewables. It is also the third-largest natural gas Continue Reading
As silent factories and deserted offices hobble demand for electricity worldwide, the biggest loser is coal. In the U.S., coal’s share of power generation has dropped more than 5 percentage points since Continue Reading
While everyone is understandably watching the meltdown in the crude oil market, the global market for natural gas is also cratering. At least 20 cargoes of U.S. liquefied natural gas Continue Reading
Could anything good come out of the coronavirus pandemic? Amid mass deaths, lockdowns and the prospect of another Depression, it is hard to find a bright side. Yet one ray of Continue Reading
Oil prices are set to recover with the OPEC+ production cuts and gradual lifting of lockdowns around the world in the second half of 2020, when oil prices “will be Continue Reading
The Chinese word ‘crisis’ consists of the characters for ‘danger’ and ‘opportunity’. The unprecedented situation in global energy markets has provided traditional producers with an opportunity to displace incumbents in Continue Reading
