The economic paralysis caused by the coronavirus led in April to the steepest month-to-month fall in U.S. consumer prices since the 2008 financial crisis — a 0.8% drop that was Continue Reading
Many airlines have gone bankrupt in the past and demand for air travel—which fuels demand for Boeing’s planes—continued to grow year by year. Boeing CEO Dave Calhoun said in an Continue Reading
Forecast Highlights Global liquid fuels Although all market outlooks are subject to many risks, the May edition of EIA’s Short-Term Energy Outlook remains subject to heightened levels of uncertainty because Continue Reading
The U.S. Department of the Interior approved this week the biggest solar project in the United States ever—an estimated US$1-billion solar plus battery storage project in Nevada. Australia’s Quinbrook Infrastructure Continue Reading
The American Petroleum Institute (API) estimated on Tuesday another large crude oil inventory build, of 7.58 million barrels for the week ending May 8 even as several U.S. states begin Continue Reading
President Donald Trump celebrated rising oil prices Tuesday, saying production cuts by Saudi Arabia secured as part of a global deal among crude producers after a historic price crash would Continue Reading
Ameren Energy told analysts Tuesday during an earnings call that it is “transitioning to a cleaner generation profile” and has agreements in place to add 700 MW of wind generation Continue Reading
The outlook for the company’s debt restructuring effort is teetering. Shares of Chesapeake Energy Corp. slid almost six percent in premarket trading on Monday, after the company added a going Continue Reading
It appears the dispute between Tesla and San Francisco Bay Area authorities over the reopening of a factory in the face of shutdown orders is coming to an end. The Continue Reading
Job losses, well shut-ins, and bankruptcies have replaced the praise surrounding the shale oil boom that greatly enhanced America’s energy independence and gave President Trump a reason to tout energy Continue Reading
Some drillers in the biggest North American oil field are reopening wells shut in response to the pandemic-driven price collapse, according to pipeline giant Energy Transfer LP. In the Permian Basin’s Continue Reading
At least two oil and gas firms that boosted investors’ portfolios by buying back stock in 2019 received $15.5 million this year from a program designed to rescue small businesses Continue Reading
There are now four major oil companies pledging to cut emissions to “net zero,” after Total followed Repsol, BP, and Shell in laying out its plans. And, yet, each one of them Continue Reading
Dmitry Peskov, spokesman for Russian President Vladimir Putin, has now tested positive for the virus Russia has confirmed 232,000 cases of coronavirus – the second highest toll in the world Continue Reading
In the first quarter of 2020, the electrically-chargeable vehicle segment in Europe significantly increased its market share, rising to 6.8% (from 2.5% in Q1 2019) against the backdrop of the Continue Reading
Crude oil futures traded higher in midmorning Asia trade Tuesday after Saudi Arabia announced Monday that it would cut output beyond its OPEC+ production quota. Receive daily email alerts, subscriber Continue Reading
Oil prices rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain a supply glut built up during the coronavirus Continue Reading
The world will soon bounce back from this pandemic, but the recovery will be rough and painful. The current low oil price environment will also come to an end, with Continue Reading
There is a growing acceptance that the prospect of a V-shaped recovery is unrealistic. “A couple months ago I was optimistic, I was hopeful, that maybe we would have a Continue Reading
Levels of two major air pollutants have been reduced significantly since lockdowns began in response to the COVID-19 pandemic, but a secondary pollutant—ground-level ozone—has increased in China, according to new Continue Reading
In some ways, the dire lockdowns undertaken to stop Covid-19 have fast-forwarded us into an unlikely future—one with almost impossibly bold climate action taken all at once, no matter the Continue Reading
Extreme heat and humidity are increasing across the globe, threatening millions of lives and economies in places where it could become fatal to work outdoors, scientists said on Friday. Parts Continue Reading
Saudi Arabia announced a slew of austerity measures to cope with the impact of the coronavirus pandemic and an oil-price rout, tripling its value-added tax and cutting a cost-of-living allowance Continue Reading
Saudi Arabia announced a surprise move to slash oil output to the lowest in 18 years as it tries to spur the recovery from an energy crisis that has devastated the Continue Reading
Saudi Arabia announced Monday it was tripling taxes on basic goods, raising them to 15%, and cutting spending on major projects by around $26 billion as it grapples with blows Continue Reading
As India eases one of the world’s tightest coronavirus lockdowns, millions of migrant workers are struggling with a question that could determine both how quickly the country’s economy recovers and Continue Reading
As India’s fuel demand picks up from April lows, Indian Oil Corporation (IOC), the country’s biggest refiner and fuel retailer, is gradually boosting operations across its refineries and aims to Continue Reading
Tens of thousands of people have booked out seats on Indian trains that are due to restart on Tuesday after a near seven-week lockdown, raising concerns of spreading the coronavirus Continue Reading
Saudi Aramco said its first-quarter profit fell sharply and it would cut spending this year, underscoring the twin impact of an oil-price rout and the coronavirus pandemic on the kingdom’s Continue Reading
Saudi Arabia said Monday it would triple its value-added tax rate and eliminate allowances for state workers, adopting austerity measures aimed at boosting state finances battered by the coronavirus pandemic Continue Reading
At no time since Ibn Saud first consolidated his Arabian conquests into the Kingdom of Saudi Arabia in 1932 has the ruling Saud dynasty faced such an existential threat to Continue Reading
The United Arab Emirates will cut even more oil production in June, UAE Minister of Energy and Industry Suhail bin Mohammed Faraj Faris Al Mazrouei announced this week. The production Continue Reading
An indicator of China’s coal demand surged almost a third above levels last year as hotter-than-usual weather and factories rushing to make up for lost orders boosted power demand, spurring a Continue Reading
China’s direct investment in the United States fell last year to its lowest level since the Great Recession, even before the coronavirus pandemic shut down much of global commerce. The Continue Reading
While there is global potential to generate renewable energy at costs already competitive with fossil fuels, a means of storing and transporting this energy at a very large scale is Continue Reading
China announced on Tuesday a new list of 79 U.S. products eligible for waivers from retaliatory tariffs imposed at the height of the bilateral trade war, amid continued pressure on Continue Reading
China’s factory-gate prices contracted in April, falling by the steepest margin in four years, as manufacturers struggled with deflationary pressures from the coronavirus pandemic, which has crimped demand both at Continue Reading
A worker checks passengers’ temperatures and a health code on their phones at Hankou train station in Wuhan on Tuesday. Officials plans to test all residents of Wuhan after new Continue Reading
A group of nearly 40 Republican lawmakers on Friday urged the Trump administration to take actions against financial institutions that have shied away from financing certain fossil fuel projects. In Continue Reading
U.S. President Donald Trump ordered meat processing plants to stay open to protect the nation’s food supply even as workers got sick and died. Yet the plants have increasingly been Continue Reading
Factory workers began returning to assembly lines in Michigan on Monday, paving the way for the reopening of the U.S. auto sector but stoking fears of a second wave of Continue Reading
Chesapeake Energy Corp said on Monday it was unable to access financing and was considering a bankruptcy court restructuring of its over $9 billion debt if oil prices don’t recover Continue Reading
Oklahoma’s energy regulators on Monday took no action on applications from oil and gas producers seeking to win state-support for measures they said would help stabilize oil prices. The Oklahoma Continue Reading
Another Powder River Basin coal mine has reduced its workforce in response to weak market conditions. Decker Coal Company furloughed 98 miners Friday, sending them home until May 26, according Continue Reading
New York City’s death toll from the coronavirus may be thousands of fatalities worse than the tally kept by the city and state, according to an analysis released Monday by Continue Reading
A few months ago, Israel and some Arab countries were laying the groundwork for an energy partnership that held the potential for economic cooperation between once-hostile neighbors. Israel started selling Continue Reading
From China and Spain to the United States, people are gradually returning to driving their cars as countries and U.S. states re-open for business. People feel safer commuting in their Continue Reading
The big oil production curtailment in the U.S. shale patch continues as more companies announced on Monday output reductions to protect their balance sheets in the face of unsustainably low Continue Reading
The Covid-19 pandemic has caused the largest horizontal rig count collapse ever recorded in the US, a Rystad Energy analysis of Baker Hughes data shows. The total horizontal oil rig Continue Reading
Coal-fired generation has been forecast to slow its decrease in the share of US generation in S&P Global Platts Analytics’ latest long-term forecast, compared with an earlier forecast, and natural Continue Reading
