Bakken Shale powerhouse Continental Resources has shut in 70% of its May oil production, roughly 136,500 b/d, owing to low crude prices caused by the global coronavirus pandemic, the company Continue Reading
Two men ride bicycles on the riverbed of the Little Missouri River in western North Dakota in June 2017. (Carey J. Williams/AP) published last month in the journal Science found Continue Reading
The question regarding whether we have reached peak oil demand is a pressing concern for U.S. upstream activity. U.S. tight oil’s current cost structure, which generally requires ~$50/barrel WTI to Continue Reading
Russia’s national death toll from coronavirus could be 70 percent higher than the government’s official data show, as the Kremlin struggles to curb the spread of Covid-19 despite a seven-week Continue Reading
Russian President Vladimir Putin on Monday announced a gradual easing of coronavirus lockdown measures despite a new surge in infections which took Russia’s tally past Italy’s, making it the fourth-highest Continue Reading
Ever since the coronavirus took hold globally, researchers have been puzzled by Russia’s mortality rate of only about 13 deaths per million, far below the world average of 36 in Continue Reading
Last week Royal Dutch Shell did something that would have been nearly unthinkable at the beginning of this year. The company cut its dividend for the first time in 75 Continue Reading
Highlights Akademik Cherskiy expected to complete gas link Vessel never entered Russian port of Kaliningrad EU law waiver case not applicable to construction London — A Russian pipelaying vessel expected Continue Reading
UK electricity demand fell to 15.347 GW early Sunday morning, 12.3% below last year’s minimum demand and close to a record low, initial out-turn figures from National Grid showed Monday. Continue Reading
Sales of new cars in Russia plummeted by 72.4% in April from a year earlier after a 4% rise in the previous month, the Association of European Businesses (AEB) said Continue Reading
BP’s new chief executive said the coronavirus hit to crude consumption was likely to endure beyond the pandemic – and may even have ushered in “peak oil” demand. Bernard Looney, who Continue Reading
When Vladimir Putin tapped Mikhail Mishustin in January to become prime minister, the little-known tax official was meant to spearhead a push for stimulus spending to help Russia’s president remain Continue Reading
When the coronavirus first struck, Prime Minister Boris Johnson of Britain agonized long and hard before closing stores, pubs, and restaurants as part of the country’s fight against the disease. Continue Reading
Oil pared last week’s gain as fears of a potential resurgence in global coronavirus cases countered tentative signs of a demand recovery. Futures fell 2.3% in New York to trade near $24 a Continue Reading
The current year is likely to go down in the annals of stock trading as one that set the biggest records, both good and bad. It took a mere 20 Continue Reading
U.S. natural gas prices have jumped more than 20 percent from an early April low and are set to rise through the rest of the year despite high market volatility Continue Reading
James Li, a public relations account director, would rather spend an hour sitting in Beijing traffic than risk 30 minutes exposed to crowds on a train. “Traffic is as bad Continue Reading
New Covid-19 outbreaks in South Korea , Germany and China have highlighted the challenge faced by governments seeking to loosen social restrictions, as millions of Europeans prepare for the tentative Continue Reading
An international team of researchers has used satellite images to map urban growth between 1985 and 2015. Each image captured 900 square meters of ground, a level of detail that Continue Reading
U.S. Vice President Mike Pence has been self-isolating but will be back at the White House on Monday, while three members of the Trump administration’s task force are in quarantine. Russia Continue Reading
Highlights Parliament last week postponed voting on oil minister post PM Kadhimi wants to restore Iraq’s shrunken oil market share He also wants to amend IOC contracts Iraq’s new prime Continue Reading
Global Oil-water Separator Market Growth Projection The new report on the global Oil-water Separator market is an extensive study on the overall prospects of the Oil-water Separator market over the Continue Reading
A county in southwestern Iran has been placed under lockdown to prevent the spread of coronavirus, Tasnim news agency reported on Sunday, also quoting the provincial governor as saying there Continue Reading
A withering bombardment shook Tripoli on Sunday as the eastern-based forces of Khalifa Haftar fought overnight for new territory in the southern suburbs after losing ground recently around the city. Continue Reading
Saudi Aramco is looking to restructure its deal to acquire a controlling stake in petrochemicals maker SABIC after a more than 40% drop in SABIC’s value following a slump in Continue Reading
Iran is quarantining part of the oil-rich southwest of the country for the next week, with all main routes into the area closed, the semi-official Tasnim news agency reported. All banks, Continue Reading
Despite – or perhaps because of – the global overhang in liquefied natural gas (LNG) supplies, a weak demand profile, and ongoing uncertainty in the hydrocarbons market overall, Qatar believes Continue Reading
India, the fourth-largest importer of liquefied natural gas (LNG) in the world, will boost its imports by one-third over the next three years, but the import growth will depend on 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
Avianca Holdings , Latin America’s second-largest airline, filed for bankruptcy on Sunday, after failing to meet a bond payment deadline, while its pleas for coronavirus aid from Colombia’s government have Continue Reading
China has issued a lengthy rebuttal of what it said were 24 “preposterous allegations” by some leading U.S. politicians over its handling of the new coronavirus outbreak. The Chinese foreign Continue Reading
Chinese authorities reported on Sunday what could be the beginning of a new wave of coronavirus cases in northeast China, with one city in Jilin province being reclassified as high-risk, Continue Reading
South Korea, which largely succeeded in quelling the spread of the coronavirus, is back on the defensive, with Seoul’s bars and clubs ordered closed, as the country reported its biggest Continue Reading
China’s monthly auto sales rose for the first time in almost two years as the country eased virus-related curbs and reopened for business, but the annual number will likely be Continue Reading
Concerns that extended factory lockdowns and social distancing rules will dent company profits prompted analysts to cut forecasts for Asian companies’ 2020 earnings by around 5.4% over the last month, Continue Reading
Wuhan, the Chinese city where the global coronavirus pandemic began, on Monday reported its first cluster of new infections since a strict quarantine was relaxed in early April. The setback occurred Continue Reading
Decoupling between the US and Chinese economies shifted into overdrive in the first quarter of this year, as the commercial impact of the coronavirus pandemic exacerbated what some analysts are Continue Reading
A research group led by Associate Professor Takashi Tachikawa of Kobe University’s Molecular Photoscience Research Center has developed a strategy that greatly increases the amount of hydrogen produced from sunlight Continue Reading
China’s central bank said on Sunday it will step up counter-cyclical adjustments to support the economy and make monetary policy more flexible to fend off financial risks. The first-quarter monetary Continue Reading
The staggering U.S. unemployment rate reported by the government on Friday amid coronavirus lockdowns may get even worse, Treasury Secretary Steven Mnuchin said on Sunday. “The reported numbers are probably Continue Reading
Some of President Donald Trump’s top economic advisers emphasized on Sunday the importance of states getting more businesses and offices open even as the pandemic makes its way to the Continue Reading
Factory furloughs across the U.S. are becoming permanent shutdowns, a sign of the heavy damage the coronavirus pandemic is exerting on the industrial economy. Makers of dishware in North Carolina, Continue Reading
The Trump administration and semiconductor companies are looking to jump-start development of new chip factories in the U.S. as concern grows about reliance on Asia as a source of critical Continue Reading
Nearly a third of Kentucky’s labor force has filed for unemployment insurance, the largest share of any U.S. state, partly reflecting officials’ encouragement to do so and an early move Continue Reading
The Trump administration is racing to contain an outbreak of Covid-19 inside the White House, as some senior officials believe that the disease is already spreading rapidly through the warren Continue Reading
A bipartisan group of two dozen U.S. Senators sent a letter to President Trump, urging him to reject the demands of the oil refining industry, which has called for exemptions Continue Reading
Oil well shut-ins are the new black. Everyone, especially in the U.S. shale patch, seems to be shutting in wells in response to what is shaping up to be the Continue Reading
Introduction BOEM produces an estimate of GoM reserves every year. This year’s covers estimates for then end of 2017. Nominally The figures given are 2P estimates but previous analysis has Continue Reading
President Donald Trump says he resuscitated Barack Obama’s gasping economy and proceeded to build it to its strongest in generations. Now as record job losses mount across the country, the Continue Reading
The electric vehicle revolution that by most accounts was ramping up in 2020 faces one of the biggest threats since EVs started to go mainstream in the last decade. The Continue Reading
