Headlines have been pronouncing the impending death of the shale industry since long before the spread of the novel coronavirus. “Even when oil was priced at $30 a barrel,” writes Continue Reading
The US oil and gas rig count dropped by 12 to 357, rig data provider Enverus said Thursday, marking the slowest week-on-week decline in more than two months since the Continue Reading
Weekly US coal production was estimated at approximately 8.2 million st in the week ended May 16, down 1.6% from the previous week, Energy Information Administration data showed Thursday. Receive Continue Reading
More than 2.2 million b/d of US oil production has been shut in response to low prices and weak demand, US Energy Secretary Dan Brouillette said Thursday. Receive daily email Continue Reading
US gasoline demand muted by coronavirus pandemic Social distancing measures, record unemployment key variables New York — As the Memorial Day holiday weekend draws near, the allure of beaches, boardwalks Continue Reading
Climate scientists are predicting that as many as 20 named hurricanes will develop in the Atlantic basin during the six-month season that officially begins on Monday. The prediction of a Continue Reading
The coronavirus recovery is in trouble before it even begins. As swiftly as the lockdowns across Asia were imposed, the process of lifting them will be slow and uneven. That Continue Reading
It’s becoming unanimous. Federal researchers are now weighing in on the hurricane season ahead, forecasting as many as 19 named storms for the year, at least six of which are Continue Reading
U.S. shale drillers spooked by the epic meltdown in oil markets are trying to figure out how to protect themselves in the future. It won’t come easy, or cheap. After oil’s Continue Reading
The European Union is set to launch a down payment on a Green New Deal. As the world slips into a deep economic recession – and some indicators are as Continue Reading
Crude oil futures traded marginally higher in mid-morning trade in Asia Thursday on easing supply glut concerns after latest EIA data showed a drawdown in US crude inventories. At 10:05 Continue Reading
Trader anxiety has earned a reprieve, with oil markets dodging one of many bullets after a key U.S. benchmark oil futures contract avoided a repeat of the April fiasco that Continue Reading
Equity markets slipped on Thursday on concerns about the long-term impact of the new coronavirus and simmering U.S.-China tensions, though those worries couldn’t stop oil prices from marching to a Continue Reading
Rystad Energy predicts that global gas demand will drop nearly two percent this year. Thanks to declining commercial and industrial natural gas demand driven by lockdowns to curb COVID-19’s spread, Continue Reading
Some of the world’s poorest oil-producing countries are slipping behind on payments for billions of dollars in oil-for-cash loans from commodity trading houses, putting them at risk of default. The so-called Continue Reading
Dallas, Houston, Southeast Florida’s Gold Coast, the entire state of Alabama and several other places in the South that have been rapidly reopening their economies are in danger of a Continue Reading
In response to the industry downturn, national oil companies (NOCs) are set to slash their exploration budgets by 26 percent on average this year, Wood Mackenzie said in an analysis Continue Reading
The OPEC+ coalition appears determined to ease the global oil glut and lift the oil prices that had cratered in April because of OPEC+ wrangling and crashing global demand in Continue Reading
The renewable energy industry will see a decline in growth this year but will recover and start growing again next year, the International Energy Agency has said in a new Continue Reading
Highlights 26 GW less solar, wind expected 2020, first annual drop in 20 years Europe’s RES growth revised lower to 22 GW on construction delays Growth expected to rebound 2021, Continue Reading
Iran will support any nation or group that fights Israel, Supreme Leader Ayatollah Ali Khamenei said on Wednesday. “We will support and assist any nation or any group anywhere who Continue Reading
Iran’s top health official appealed to Iranians to avoid travelling during the Eid al-Fitr religious holiday later this month to avoid the risk of a new surge of coronavirus infections, Continue Reading
Saudi Arabia and other Persian Gulf Arab countries are seeing a sharp spike in coronavirus cases, prompting governments to reimpose some restrictions that had been lifted late last month ahead Continue Reading
Even before the latest slew of announcements regarding the agreement by Saudi Arabia’s flagship oil and gas company, Aramco, to acquire a 70 percent stake in the Kingdom’s key petrochemicals Continue Reading
Dozens of foreign staff of the Basra Gas Company (BGC) were sent from Basra to Rotterdam and London Wednesday afternoon, as payment disputes led to protests inside company facilities in Continue Reading
Nigeria imported a total of 20.89 billion litres of petrol in 2019, the National Bureau of Statistics (NBS) stated wednesday. Of this figure, the South-west took delivery of the highest Continue Reading
The coronavirus is spreading like wildfire in Brazil, and the country’s oil industry could get dragged down with it. “Brazil has the worst COVID growth rate of any G20 country: Continue Reading
Brazil’s coronavirus outbreak worsened on Wednesday and the South American nation could soon have the second-highest number of cases in the world as the Health Ministry reported 888 new deaths Continue Reading
Global coronavirus cases surpassed 5 million on Wednesday, with Latin America overtaking the United States and Europe in the past week to report the largest portion of new daily cases Continue Reading
Doctors and nurses work in the covid-19 intensive care unit at the Emilio Ribas Institute of Infectious Disease hospital in São Paulo. (Jonne Roriz/Bloomberg News) Hospitals nearing capacity. Deaths soaring. Continue Reading
The Trump administration is weighing new sanctions and other legal steps to disrupt Iranian oil exports to Venezuela, U.S. officials said, in response to what the U.S. considers the Islamic Continue Reading
A dollar could once theoretically buy about 5 billion gallons of gasoline in Venezuela — more than enough to supply the state of Michigan for a year. Now, a dollar Continue Reading
Drilling in the Arctic has been back in the headlines this week with some fresh controversy. The Trump administration has long seen the development of oil and gas assets in Continue Reading
The U.S. Administration is holding this week an oil and gas lease sale in New Mexico while American producers curtail production in response to low oil prices and environmentalists and Continue Reading
After a brief period of apparent calm with the signing of a trade deal in January, the U.S.-China relationship has worsened dramatically in the past few months, with the Covid-19 pandemic adding Continue Reading
At least three tankers loaded with Canadian crude have headed to China since the start of the year, Bloomberg reports , citing shipping data. This is the latest sign of Continue Reading
The emergence of dozens of new coronavirus cases around a northeastern Chinese city has prompted authorities to lock down the area and replace some officials, initiating a limited return to Continue Reading
As the Chinese authorities confront scattered coronavirus outbreaks in the country’s northeast, they are turning to many of the same strict lockdown measures that they used this winter in the central Continue Reading
Democrats on Wednesday blasted the Trump administration’s moves to roll back environmental regulations during the coronavirus crisis , with one senator saying a “pandemic of pollution″ has been released. The Continue Reading
U.S. crude oil refinery inputs averaged 12.9 million barrels per day during the week ending May 15, 2020 which was 0.5 million barrels per day more than the previous week’s Continue Reading
Bakken driller Continental Resources was the lone producer voice Wednesday in favor of North Dakota regulators declaring oil produced at certain levels as waste and then potentially imposing state curtailments. Continue Reading
Millions more Americans likely filed for unemployment benefits last week as backlogs continue to be cleared and disruptions from the novel coronavirus unleash a second wave of layoffs, pointing to Continue Reading
The global plunge in electricity demand will drag on long after nations lift stay-at-home orders, leading to the biggest annual drop since the Great Depression and fundamentally reshaping power markets. As Continue Reading
An oil field on federally managed land in California in 2015. (Jae C. Hong/AP) The Trump administration is starting to reduce royalty payments and suspend leases for oil companies drilling Continue Reading
The developer of what is said to be the world’s largest green hydrogen production facility said Wednesday it plans to start operations in southern California by 2023, promising to supply Continue Reading
U.S. shale drillers spooked by the epic meltdown in oil markets are trying to figure out how to protect themselves in the future. It won’t come easy, or cheap. After oil’s Continue Reading
U.S. carriers JetBlue Airways Corp and United Airlines Holdings Inc announced fresh safety measures on Wednesday aimed at restoring confidence in travel as several executives pointed to signs domestic demand Continue Reading
As Americans plan for life after pandemic lockdowns, many want to avoid public transport and use a car instead, straining already underfunded transit systems and risking an increase in road Continue Reading
An executive order signed by President Trump Tuesday directs agencies to consider what sort of deregulatory action they might take that could spur economic growth. The order directs agency heads Continue Reading
A Swedish study found that just 7.3 percent of Stockholmers developed COVID-19 antibodies by late April, which could fuel concern that a decision not to lock down Sweden against the Continue Reading
