Volkswagen will restart production at its Wolfsburg factory in Germany on Monday, the latest of a fleet of European carmakers to take advantage of eased coronavirus lockdown rules to resume Continue Reading
The global oil market is on track to test storage capacity limits in as little as three weeks, requiring the shut-in of nearly 20% of global production, according to Goldman Sachs Continue Reading
We came to the conclusion that the future is a separate line of business when perusing the graphically flashy 2019 annual report issued by Enel S.p.A. the Rome-based energy company. Continue Reading
Russia reported 6,198 new confirmed coronavirus cases on Monday versus 6,361 on the previous day, which took the national tally of infections to 87,147. The Russian coronavirus crisis response centre Continue Reading
Germany’s spring showers haven’t materialized this year, and that’s drying out the country’s most important river, prompting concerns that key industrial goods might have trouble making it to their destination. Continue Reading
Desperate business owners in Russia have been pleading with the Kremlin for help in the pandemic shutdown. The response, however, has been slow and largely focused on big industries, leaving Continue Reading
Oil prices rose on Friday but still posted a weekly loss, the eighth in nine weeks, as global production cuts could not keep pace with the collapse in demand caused Continue Reading
Oil edged lower for the week after paring losses following the dramatic collapse on Monday that saw prices in New York plunge below zero for the first time in history. West Continue Reading
Is the concept of “peak oil” dead? Maybe, but not for long. What is happening now already occurred 25 years ago. We are living through a zombie oil market, a Continue Reading
As I wrote in my previous post, preparing these last two has been a surrealistic exercise. The oil market environment for this post has been even more surrealistic than the Continue Reading
Barring any steep jump the rest of the session on Friday, prices are heading for their eighth weekly loss in the last nine, one of the most volatile weeks in Continue Reading
While it may be tempting to argue that the worst is behind us for oil price given the historic collapse in WTI which crashed to negative $40 on Monday as Continue Reading
The worst week in oil market history is finally coming to an end, but some analysts are suggesting there may be more pain in store as crude storage cross the Continue Reading
The world may have to get used to oil turning up in unusual places. An enormous glut of crude sparked by the coronavirus pandemic and the resulting collapse in demand Continue Reading
Nigeria’s independent oil producers are being crushed by the oil price crash, with current prices more than two times lower than the costs of local independents’ production. These small independent Continue Reading
Mexico’s Pemex declared force majeure on fuel imports, which it receives from the United States, because of tanking demand, Reuters reported , citing two unnamed sources. Bloomberg quoted another unnamed Continue Reading
India eased lockdown restrictions on Friday in some parts of the country, allowing markets to reopen in rural areas and outside known hot zones, and alleviating financial stress for tens Continue Reading
In a week when oil futures fell below zero, everyday Venezuelans are paying more than ever for gasoline as extreme shortages fuel a booming black market. The crisis has now spread Continue Reading
Halliburton Co. is shutting down primary operations in Venezuela as the U.S. tightens sanctions against the Nicolas Maduro regime. “Through December 1, 2020, we are only permitted to perform certain transactions Continue Reading
China’s non-state oil quotas facilitate higher imports even as demand outlook remains weak In a deepening commodity crisis, Asian LNG exports remain resilient, but can this continue? Five states, representing Continue Reading
The Trump administration is considering taking stakes in U.S. energy companies as one possible option as it seeks to help the nation’s oil and gas sector amid the coronavirus outbreak, Continue Reading
Two senior U.S. House Democrats on Friday asked the U.S. Treasury and Federal Reserve to direct at least $5 billion in loans to struggling intercity bus companies because of the Continue Reading
The fallout from sub-zero oil prices is accelerating the slump in U.S. crude exploration to a pace never seen before. Drilling in onshore American fields fell the most in 14 years this Continue Reading
The latest front in the war against drilling for oil in Alaska’s rugged wildlife refuge isn’t Washington — it’s Wall Street. Activists trying to keep rigs out of the Arctic National Continue Reading
A plan being weighed by Treasury Secretary Steven Mnuchin to steer financial aid to beleaguered oil drillers could set up a clash with Democrats who have warned against any bailout Continue Reading
Asking Opec to help save the US oil sector was not part of Donald Trump’s vision of “American energy dominance”. The US president’s role in brokering a deal between Saudi Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 64, falling to 465, with the total oil and Continue Reading
Continental Resources has stopped drilling operations and shut in most of its wells in North Dakota, Reuters reports , citing sources familiar with the situation, who also added that the Continue Reading
Continental Resources – the largest producer in the Bakken – has shut in production, sounding alarms across the entire U.S. shale patch. It has also notified several of its clients Continue Reading
Contentious regulatory issues in Colorado have taken a back seat in the Denver-Julesburg Basin as companies slash activity under the weight of weak oil prices, which could provide a boost Continue Reading
New York regulators gave the green light for the New York State Energy Research and Development Authority, or NYSERDA, to sometime this year issue an offshore wind solicitation for at Continue Reading
US power sector coal stockpiles totaled 140 million st in February, up 4.4% from January, US Energy Information Administration data showed Friday. Receive daily email alerts, subscriber notes & personalize Continue Reading
US coal-fired power generation totaled 56.1 TWh in February, down 14% from Monday, US Energy Information Administration data showed Friday. From the year-ago month, generation was down 29.9%. Additionally, February Continue Reading
The large size of the US auto market and high GDP per capita, as well as easy access to financing options, make it a leading candidate for EV uptake. However, Continue Reading
Pipeline giant Energy Transfer will be asking the Texas Railroad Commission to allow it to idle two pipelines in Texas and turn them into storage for around 2 million barrels Continue Reading
Researchers at Virginia Tech have demonstrated a green and more sustainable manufacturing method for LIBs in which no hazardous organic solvent is used during electrode manufacturing and recycling. A paper Continue Reading
Whiting Petroleum Corp., the shale driller that went bankrupt at the start of this month, formalized a restructuring deal that would cut more than $2.3 billion of debt and hand Continue Reading
Across the low-lying coastal plains of North Carolina, it’s not uncommon to see abandoned homes ruined by the floodwaters of Hurricane Florence two years ago in September. Their doors and Continue Reading
Russia is preparing to significantly reduce the oil supply to the market from its Baltic and Black Sea ports—to the lowest in two decades in May when the OPEC+ production Continue Reading
Market pessimism continues to grow over the impact of COVID-19 on global oil demand despite signs that economic measures to contain the pandemic are starting to ease in Europe, the Continue Reading
A Russian pipelaying vessel expected to complete the controversial Nord Stream 2 gas pipeline from Russia to Germany is now headed for Northern European waters, S&P Global Platts trade flow Continue Reading
Crude-oil prices jumped Thursday, extending a string of wild moves that are ricocheting across financial markets and roiling the global energy industry. While prices have clawed back ground over the Continue Reading
Oil advanced as traders eye a production slowdown that has resulted from the coronavirus-led weaker demand environment. Futures gained 20% in New York on Thursday. With crude trading below $20-a-barrel, U.S. production Continue Reading
Oil soared on Thursday, extending its rebound after major oil-producing nations said they would accelerate planned production cuts to combat the dramatic slump in demand due to the COVID-19 pandemic. Continue Reading
Business activity in the U.S., Europe and Japan collapsed in April as governments tightened restrictions on movement and social interaction aimed at limiting the spread of the coronavirus, according to Continue Reading
WTI prices may have steadied somewhat after a wild couple of days, but the physical market for crude is still collapsing. Energy stocks posted sharp gains on Thursday as WTI Continue Reading
Gordon Ballard, head of the International Association of Oil & Gas Producers, has seen many downturns in his 38-year career. But they were all followed by recoveries. This time, he Continue Reading
The coronavirus pandemic is putting untold pressure on the supply chains that produce and transport the world’s food. Yet there’s one vital factor even harder to control than panic buying Continue Reading
Amid a global transport industry crisis brought about by the coronavirus pandemic, a study from clean energy nonprofit Transport and Environment has added strength to the argument that EVs emit Continue Reading
We just marked the 50th anniversary of Earth Day, and as I sat writing this column at home, I could gaze out the window at a day that would have made Continue Reading
