A top Iranian general warned the United States on Thursday against “dangerous behavior” in the Persian Gulf, saying his forces would target U.S. naval ships that posed a threat to Continue Reading
Although the new OPEC+ agreement goes into effect on May 1, OPEC’s fourth-largest producer, Kuwait, has already started to reduce crude oil supply to international markets “sensing a responsibility responding Continue Reading
Yemen’s Houthi rebels demanded more concessions from Saudi Arabia, including lifting a five-year blockade, before they would resume United Nations-backed peace talks, raising the risk of a new flare-up of Continue Reading
Parts of India have recorded dramatic falls in mortality rates after a nationwide lockdown was imposed to fight the new coronavirus, suggesting there has not been an undetected surge in Continue Reading
On Tuesday, the Trump administration told the last remaining American oil companies in Venezuela that they had until December to wind down operations in the country. The Treasury Department’s Office Continue Reading
Mexico, the largest recipient of U.S. gasoline exports, is seeking to cancel imports of the fuel from at least one U.S. company amid the rippling effects of the coronavirus on Continue Reading
Argentina plans to issue a decree setting a higher local oil barrel price to protect the domestic industry from being further decimated by a collapse in global prices and slumping Continue Reading
Coronavirus cases in China may have been four times higher than officially reported numbers, according to a study published in the Lancet medical journal. Infections would have been 232,000 in China as Continue Reading
Chinese officials have imposed new limits on movement in some northern parts of the country following a spate of new coronavirus infections, in a sign of how difficult it will Continue Reading
Malaysia’s push to explore energy blocks off its coast has turned into a five-nation face-off involving U.S. and Chinese warships, raising the risk of a direct confrontation as broader tensions Continue Reading
Both Japan’s factory output and retail sales likely fell at a sharper pace in March as the coronavirus pandemic weighed more heavily across the broader economy, a Reuters poll showed. Continue Reading
An extended period of coronavirus-related oil demand destruction has exposed weaknesses in Asia and Oceania refineries, with a slew of fuel producers in the region reviewing 2020 operation plans in Continue Reading
WiTricity’s technology for wireless power transfer over distance was central to a next-generation electric mobility demonstration in Osaka, Japan, led by DAIHEN Corporation, a global leader in electric power transmission. Continue Reading
Methane emissions from the Permian basin of West Texas and southeastern New Mexico, one of the largest oil-producing regions in the world, are more than two times higher than federal Continue Reading
The travel restrictions and economic unraveling triggered by the coronavirus have led to an unprecedented drop in carbon emissions worldwide. That may feel like a rare bit of silver lining—and Continue Reading
We already know that Covid-19 is leading to project delays and layoffs across the clean energy economy. Today, I’m going to zero in on what’s happening with some of the Continue Reading
Toyota Motor Corp ( 7203.T ) said on Thursday it expects to gradually resume North American production starting May 4 and will impose significant new safety procedures after it halted Continue Reading
The tidal waves of unemployment filings across the U.S. showed only the barest signs of abating last week as more than 4 million people applied for benefits, bringing the five-week Continue Reading
If you think one lockdown is painful enough, imagine a second. It is too soon to gauge the lasting impact of putting the US economy into a deep freeze for Continue Reading
Fears of running out of storage capacity drove oil prices down over $40 in single day, forcing sellers to pay their buyers to take the product, and these fears were Continue Reading
When the OPEC+ alliance failed to reach an agreement on new output cuts at its meeting in early March, Saudi Arabia immediately pledged to shock and awe the market by Continue Reading
US natural gas stocks increased by less than the five-year average last week as below-normal temperatures boosted demand despite widespread stay-at-home measures. Receive daily email alerts, subscriber notes & personalize Continue Reading
Highlights All four major basins at multi-year lows US cumulative production down 19.6% year on year Houston — Weekly US coal production tumbled to an estimated 8.62 million st in Continue Reading
The US oil and gas rig count fell 76 week on week to 491, rig data provider Enverus said Thursday, a few days after oil prices plunged below zero and Continue Reading
Unfortunately, for the already vulnerable U.S. Energy Market, the worst is still yet to come. As one energy analyst forecasted, we may see a negative $100 for oil a barrel Continue Reading
Canada-based DeepGreen Metals Inc., a company focused on sourcing metals with the least environmental and societal impact, has released the results of a year-long study it commissioned into the impacts Continue Reading
Cushing, Oklahoma, population 7,800, has a steakhouse, a burrito restaurant and a KFC. It also has America’s most important complex of oil storage tanks. The prospect that those monumental tanks Continue Reading
This week the near term price for crude oil fell to -$37.68 per barrel. This was driven by the expiration of the May futures contract on the 21st of April Continue Reading
German business morale crashed in April in its most dramatic fall on record and hit its lowest reading ever as the coronavirus crisis strikes Europe’s largest economy “with full fury”, Continue Reading
Eni SpA reported a 94% drop in first-quarter profit and cut its production forecast for the year as demand is crushed by the coronavirus pandemic. While the large decline in earnings Continue Reading
A British Petroleum-led project in Azerbaijan will have to cut production in May for the first time as Azerbaijan will need to take drastic measures to meet its new quota Continue Reading
A series of coronavirus outbreaks at Russian oil and gas assets is forcing companies to introduce quarantines and changes to shift patterns, raising the risk that the outbreaks could hit Continue Reading
Oil extended its recovery from Monday’s plunge below zero, but trading remains volatile with the market under intense pressure from a swelling global glut. Futures in New York rose as much Continue Reading
Storage build expected to be 25 Bcf lower than five-year average Production stays relatively flat on the day at 92 Bcf The NYMEX May gas futures jumped 11.8 cents Wednesday Continue Reading
Oil recovered from a 21-year low, bucking two days of frenzied selling, but a global supply glut continues to loom over the market. Brent futures for June delivery closed 5% Continue Reading
Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative talk of additional supply cuts from OPEC producers and U.S. inventory builds Continue Reading
In the largest slum in Kenya’s capital, people desperate to eat set off a stampede during a recent giveaway of flour and cooking oil, leaving scores injured and two people Continue Reading
President Trump said on Wednesday that he has told the Navy to “shoot down and destroy” any Iranian fast boats that harass American naval ships, in what would be a Continue Reading
Saudi Arabia has made good on its early-March promise to flood the world with oil, but with demand collapsing and storage filling fast, the world’s top oil exporter must now Continue Reading
Saudi Arabia plans to draw down Riyals 120 billion ($32 billion) from its cash reserves, and increase borrowing this year by Riyals 120 billion, in attempt to stem the damage Continue Reading
Saudi Arabia is exploring re-routing millions of barrels of oil on board tankers sailing to the United States if President Donald Trump decides to block imports of crude from the Continue Reading
With just three days remaining to the expiry of a 30-day US waiver to import Iranian gas and electricity, Iraq will struggle to drum up some $10 billion in investments Continue Reading
Merely a month ago India was perceived as one of the main potential winners of the oil price slump – with Middle Eastern differentials dropping beyond any reasonable level, its Continue Reading
Due to plummeting fuel demand and overflowing storage capacity, at least three oil refiners in India have asked for lower crude oil imports for May from the Middle East, including Continue Reading
As the oil price crash squeezes oil companies across the globe, Mexico’s Hacienda Hedge is set to deliver $6.2 billion to the Latin American country, Mexico’s President Manuel Lopez Obrador Continue Reading
Argentina has put on hold policies and incentives for ramping up oil production from the Vaca Muerta shale play as a global glut of crude supplies curbs export opportunities, Production Continue Reading
Chevron has been banned from drilling or transporting oil in Venezuela and its assets there are “mothballed” as the Trump administration cracks down on money going to the government of Continue Reading
Following the turmoil in international oil markets, Bank of China suspended on Wednesday the opening of new positions in a structured crude oil trading product for retail investors linked to Continue Reading
Australia has finalized a deal with the US to create its first emergency oil stockpile and store it in the US Strategic Petroleum Reserve caverns on the Gulf Coast. Receive Continue Reading
The coronavirus pandemic battered Asian economies in April with social-distancing policies and business closures taking a particularly heavy toll on the region’s service sector firms, surveys showed on Thursday. The Continue Reading
