Global energy investment is expected to plunge by 20%, or almost $400 billion, in 2020 as the COVID-19 crisis risks slowing the world’s transition to cleaner and sustainable energy systems, Continue Reading
A growing pool of global death statistics indicates that few countries are accurately capturing fatalities from the new coronavirus—and in some the shortfall is significant. In the U.S., Russia, the Continue Reading
Russia and Saudi Arabia agreed to closely coordinate on the OPEC+ output cuts deal, two weeks ahead of a crucial meeting of the group. The talks between President Vladimir Putin and Continue Reading
The Trump administration is ending sanctions waivers that allow Russian, Chinese and European companies to do work at sensitive Iranian nuclear sites, following an internal battle between Iran hawks and Continue Reading
With Rosneft having effectively taken control of Kurdistan’s oil and gas sector in northern Iraq through the deal done in November 2017, Russia had been looking to leverage this presence Continue Reading
Iraq’s oil-rig count has tumbled by almost two-thirds this year after international oil companies were ordered to cut spending because of the oil crash and OPEC’s second-largest producer agreed to Continue Reading
Magan Doodi, a groundskeeper at a golf course in Jaipur, was making his rounds earlier this week when he saw the sky suddenly turn a weird pink. It wasn’t some Continue Reading
Petrobras plans to issue one or more series of global bonds in the U.S. market, subject to market conditions, Brazil’s state-held oil firm said on Wednesday, without specifying amounts. Petrobras Continue Reading
The production of crude by Venezuela’s state-owned PDVSA and its partners in the Orinoco Belt fell to 235,000 b/d, or 18% of the region’s maximum 1.3 million b/d capacity, on Continue Reading
Four years ago, a bit player in the Venezuelan leadership was arrested in Colombia and extradited to the United States to face drug charges. He proved to be an important Continue Reading
It’s only a matter of time before the Trump administration hits China over a range of grievances. The question for CEOs, investors and economic policy makers is how bad things Continue Reading
Japan’s government maintained its view that the economy continues to worsen sharply even as a nationwide state of emergency was lifted this week allowing businesses to start the slow process Continue Reading
China officially has the broad power to quash unrest in Hong Kong, as the country’s legislature on Thursday nearly unanimously approved a plan to suppress subversion, secession, terrorism and seemingly Continue Reading
Japan’s estimated gasoline demand in May fell to the lowest monthly level in 37 years as consumers refrained from traveling at the beginning of the month, a period when driving Continue Reading
A group of 23 U.S. states and the District of Columbia filed a lawsuit on Wednesday challenging a Trump administration decision to weaken Obama-era fuel efficiency standards. In March, the Continue Reading
Chevron Corp has plans to cut between 10 percent and 15 percent of its workforce as crude oil prices remain stubbornly low amid the coronavirus pandemic and oversupply. With oil Continue Reading
Weak crude oil will make it harder for some Gulf of Mexico operators to fulfill their drilling requirements on leases just as the industry is battling outbreaks of coronavirus offshore Continue Reading
Southern Company formally revamped its carbon-reduction strategy to target net-zero emissions by 2050, but the utility’s management held back from promising more aggressive actions on renewables and fossil fuels. During Continue Reading
New York — US refinery margins gained traction last week, led by rising gasoline and diesel demand as regions reopened from coronavirus lockdowns – and just in time to refine Continue Reading
Crude oil production in Texas dropped year on year in March, according to the Railroad Commission of Texas’ (RRC) latest figures. The preliminary reported total volume of crude oil production Continue Reading
American Airlines Group Inc must reduce its management and support staff by about 30% and may have to cut frontline employees as it downsizes due to the coronavirus outbreak, showed Continue Reading
Total U.S. unemployment claims are expected to surpass 40 million. Forecasters expect the weekly Labor Department report on unemployment claims on Thursday morning to show another 2.1 million filings last Continue Reading
US shale drillers may still take at least a year before moving rigs back into the field. (Bloomberg) — Even if the economy continues to recover and a second wave Continue Reading
The European Union proposed making its climate-neutrality strategy a key pillar of a 750 billion-euro ($824 billion) recovery plan in a bid to boost economic growth and create new jobs. Continue Reading
Europe is betting on emissions-free electricity for big industry in its economic recovery package, drafting measures to scale up the production of hydrogen. The world’s most climate-ambitious stimulus package to be Continue Reading
A recovery in power demand faltered in Europe this week with citizens still cautious about resuming normal life. pain showed the strongest growth from a week earlier with electricity use Continue Reading
After the hottest winter on record, the Russian spring has yielded a Siberian heatwave that’s reigniting fires still simmering from last year. The region has witnessed unusually warm weather this Continue Reading
It was mid-March, and Russia had reported just 114 covid-19 cases, but President Vladimir Putin wanted to make a grand gesture: bonus payments for medical workers “who are performing their Continue Reading
Unquestionably the current global health situation is going to cause a severe economic crisis not seen since the Great Depression. This is already apparent in the dramatic decrease in demand Continue Reading
The government of Ukraine, which is keen to wean itself off Russian energy supplies, approved on Wednesday a plan to import liquefied natural gas (LNG) from the United States, Reuters Continue Reading
The United States is currently considering additional sanctions on the Russia-led gas pipeline project Nord Stream 2 which is planned to bring Russian gas to Germany via the Baltic Sea, Continue Reading
The German economy is likely to shrink by 6.6% this year as a consequence of the coronavirus pandemic before growing by 10.2% in 2021, the Ifo Institute said on Thursday Continue Reading
The European Union has stepped back from the brink. Again. Unprecedented in nature and ambitious in scope, the 2.4 trillion euros ($2.6 trillion) in total recovery spending unveiled by the EU Continue Reading
Europeans need to urgently increase the solar power that their economies generate or face a reckoning with climate change they could regret. Those are the stark choices outlined by top European Continue Reading
When the US imposed sanctions in December banning external contractors from working on Russia’s Nord Stream 2 gas pipeline to Germany, Washington hoped it had finally killed the controversial project Continue Reading
UK oil production slumped by almost 7% on the year to 1.103 million b/d in the first quarter, official data showed Thursday, likely due to COVID-19 disruption as well as Continue Reading
2030 and 2050 climate goals, and is asking stakeholders how best to achieve this. The EC now considers clean hydrogen so important that it will present a dedicated EU hydrogen Continue Reading
Hydrogen researchers at Graz University of Technology (Austria), together with the Graz-based start-up Rouge H2 Engineering , have developed a cost-effective process for the decentralized production of high-purity hydrogen using Continue Reading
Oil extended losses after an industry report showed a surprise jump in U.S. crude stockpiles last week. West Texas Intermediate crude futures fell as much as 3.2% after the close in Continue Reading
Oil declined from the highest settlement in 11 weeks on signs Russia was planning to start easing supply cuts from July, while tensions between the U.S. and China escalated amid Continue Reading
Oil prices rose early on Tuesday as market participants believed that improving demand and more supply coming off would ease the glut faster than expected. As of 10:37 a.m. EDT Continue Reading
The latest Global Energy Alert report on ‘How To Profit From The Oil Market Crash’ is an absolute must-read for everyone from crude oil traders to energy investors. Sign up Continue Reading
Oil’s recovery from its historic crash last month is barreling ahead, with some OPEC producers displaying signs of confidence that the market is stabilizing. Nigeria and Algeria — both members of Continue Reading
Singapore’s 2020 bunker fuel sales likely to stay steady Despite Ocean Bunkering’s interim absence, Singapore bunker suppliers able to meet demand Transition to IMO 2020 rule smooth as PSC’s ratcheted Continue Reading
Rates of climate change in the world’s ocean depths could be seven times higher than current levels by the second half of this century even if emissions of greenhouse gases Continue Reading
Senior U.S. military officials said Russia has sent jet fighters to Libya to support Russian mercenaries fighting there on behalf of Khalifa Haftar, a militia leader based in the eastern Continue Reading
The Pentagon accused Moscow on Tuesday of dispatching fighter jets to Libya to bolster Kremlin-linked mercenaries helping an eastern warlord, a move that would represent a significant expansion of Russia’s Continue Reading
Indian authorities are helping farmers mount a pesticide spraying campaign to fight the swarms of desert locusts which have already devastated crops across Pakistan and East Africa. As many as 700 tractors, 75 fire Continue Reading
The flight attendants are wearing full protective gear, and some passengers face quarantines at their destinations. But for the first time in months, India’s skies are open. The resumption of Continue Reading
In mid-March, Brazil took what seemed to be a forceful early strike against the coronavirus pandemic. The Health Ministry mandated that cruises be canceled. It advised local authorities to scrap Continue Reading
