Keystone XL Hits Another Snag in Court
A US court ruled against the use of a permit that lets new pipelines cross bodies of water. TC Energy Corp.’s plans for the Keystone XL oil pipeline hit another Continue Reading
Big Banks Pull Financing, Prepare To Seize Assets From Collapsing Oil and Gas Industry
The finances of the oil and gas industry are so dismal that the major banks that have funded the money-losing fracking boom are now exploring taking the unusual step of Continue Reading
Texas Oil at $2 a Barrel Raises Specter of Negative Prices
Crude prices in America’s oil capital are getting dangerously close to zero. Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for Continue Reading
Canadian Oil Sands Per Barrel At $4.47, Now Cheaper Than 12-Pack Coke, $5.08
The collapse of global oil demand has impacted the price of Canadian Oil Sands to such a degree, the price of a barrel is now cheaper than a 12-pack of Continue Reading
Exclusive: Moscow has more coronavirus cases than state testing shows, private lab data suggest
MOSCOW (Reuters) – The novel coronavirus has penetrated more deeply into Moscow’s population than official data show, private testing results among people without symptoms suggest. Moscow, a city of 12.7 Continue Reading
EU March new car registrations plunge 55.1% on year: ACEA
The EU passenger car market recorded a dramatic 55.1% year-on-year drop in registrations of new vehicles in March as a result of the coronavirus pandemic, the European auto manufacturers’ association, Continue Reading
Russia Coronavirus Cases: New Daily Record for Virus
Russia recorded its largest daily increase in coronavirus infections, with the new cases rising by almost 5,000 in a single day. New infections jumped by 4,785 to 36,793, the official Russian Continue Reading
Italy Coronavirus News: Milan Virus Cases Threaten Lockdown Plan
Persistently high levels of coronavirus cases in Milan are complicating Prime Minister Giuseppe Conte’s plans to restart the Italian economy. Even as growth in new cases nationally has slowed in recent Continue Reading
Oil falls as Chinese economy outweighs Trump plan to ease lockdown
Oil prices fell on Friday, giving up early gains as China’s worst economic contraction on record outweighed news of U.S. President Donald Trump’s plans to get the American economy moving Continue Reading
Oil Demand Won’t Bounce Back Anytime Soon
Oil demand is expected to be down by nearly 30 million barrels per day (mb/d) in April and down by almost 10 mb/d for the entire year, according to the Continue Reading