Big Oil’s Best Survival Strategy
First, it was an oil price war that pummeled benchmarks into the ground. Then it was the coronavirus outbreak that swelled to a pandemic. Now, a third plague is coming Continue Reading
EU to Unveil World’s Greenest Virus Recovery Package
The European Union is poised to announce the world’s greenest recovery package next week, as it seeks to curb pollution and save its economy from the coronavirus pandemic. European Commission President Ursula Continue Reading
33% Of North Sea Oil Is Now Too Expensive To Extract
The oil price collapse will result in one-third of the North Sea oil left untouched because it will be uneconomical to produce, a new study from the University of Aberdeen Continue Reading
Is Russia Finally Complying With OPEC+ Cuts?
It looks like Russia is really trying to comply with its share of the OPEC+ production cuts this time, unlike in previous deals when it had regularly exceeded its cap, Continue Reading
Russia’s Nord Stream 2 loses court case against new EU gas rules
Russia’s Nord Stream 2 gas link developer has lost its court case against changes that apply EU gas market rules to the EU section of offshore links with non-EU countries. Continue Reading
EU hydrogen strategy to drive use in industry, transport: Simson
The European Commission’s upcoming EU hydrogen strategy paper is to look at how to drive demand in a range of sectors, including heavy industry and transport, according to EU energy Continue Reading
U.K. Grid Struggles as Renewables Overtake Fossil Fuels
Renewables supplied more than 40% of electricity during first quarter of 2020, overtaking fossil fuels as storms battered the U.K. Output from wind farms was up by 40% compared with the Continue Reading
U.K. Fast-Tracks New Road Laws to Get Scooters on London Streets
Renewables supplied more than 40% of electricity during first quarter of 2020, overtaking fossil fuels as storms battered the U.K. Output from wind farms was up by 40% compared with the Continue Reading
‘We’re expendable’: Russian doctors face hostility, mistrust
MOSCOW (AP) — There are no daily public displays of gratitude for Russian doctors and nurses during the coronavirus crisis like there are in the West. Instead of applause, they Continue Reading
Sellers beware: Price collapse triggers bartering over oil and gas deals
The collapse in oil prices to 21-year lows has led potential buyers of oil and gas fields to try and renegotiate deals already agreed at higher prices, with the first Continue Reading
Oil Prices for May 20, 2020
Oil steadied after a four-day gain as investors weighed signs the market is rebalancing against what’s still a precarious economic outlook. Futures in New York for July delivery were little Continue Reading
Oil Prices Surge One Month After Hitting Zero
For the world’s most important commodity, there’s never been a month like it.Just a few weeks ago, crude oil was akin to industrial waste in some parts of the world, Continue Reading
Oil Jumps After API Reports Draw In Crude Oil Inventories
The American Petroleum Institute (API) estimated on Tuesday a large crude oil inventory draw, of 4.8 million barrels for the week ending May 15. Analysts had predicted an inventory build Continue Reading
Biggest Fall in Global Emissions Shows the Limits of Individual Action
Images AsiaPac Grounded flights, emptied highways and shuttered factories caused global carbon-dioxide emissions to fall to levels not seen since 2006 as stay-at-home orders peaked last month. On April 7, Continue Reading
New Study Shows Global Warming Increasing Frequency of the Most-Destructive Tropical Storms
A new study provides evidence for the influence of warming oceans on increased hurricane intensity. Credit: NOAA New warnings of a global warming-driven increase in the most deadly and destructive Continue Reading
The Twilight of the Iranian Revolution
One night last December, the chief resident physician at a hospital in the Iranian city of Gorgan was asked to consult on a baffling case: a patient was racked with Continue Reading
Iran Sees New Surge in Virus Cases After Reopening Country
Arash Khamooshi for The New York Times When Iran began to reopen late last month, commuters packed subways and buses, young people lined up for takeout hamburgers and pizza, and Continue Reading
Saudi Arabia’s Big Dreams and Easy Living Hit a Wall
Saudi Arabia knows about head-spinning change. “One day there was nothing, the next day there was everything,” a business student, Noura Khalid, 23, said in Riyadh in December, describing how Continue Reading
Iran Quietly Lowers the Temperature With U.S.
After years of increasing tensions that nearly led to war, Iran has moderated its approach to the West, shifting from a policy of provocation to one of limited cooperation. The Continue Reading
Angola’s oil exploration evaporates as COVID-19 overshadows historic reforms
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest Continue Reading
Oil refineries, firms told to boost supplies
Amid tight demand-supply conditions of high-speed diesel during the wheat harvesting season, the government has asked the oil marketing companies and refineries to beef up supplies of major transport fuels Continue Reading
A Troubled Government And Rare Protests In Turkmenistan
The patience of many in Turkmenistan seems to have reached its limit when it comes to poor government services and officials seemingly apathetic to the plight of the average person. Continue Reading
Biggest Storm in 20 Years Spurs South Asia to Evacuate Millions
The biggest cyclonic storm over the Bay of Bengal in about two decades has slightly weakened before hitting the coasts of India and Bangladesh on Wednesday, with authorities making preparations Continue Reading
US Supreme Court declines to hear Venezuela appeal in case seeking Citgo assets
The US Supreme Court has denied Venezuela’s request to reconsider a lower court’s decision allowing a PDVSA creditor to go after US refiner Citgo, its most valuable overseas asset. Receive Continue Reading
Shrinking South Korea oil storage capacity rattles Asia refiners
South Korea’s Jeju island is famous for the haenyeo, the sea women who dive for seaweed and shellfish in the waters off the volcanic coast, but a new sight has Continue Reading
Swift OPEC+ Cuts Revive Premiums in Asia Physical Oil Market
Swift and bold output cuts by OPEC and its allies are boosting prices of physical oil barrels in Asia as supply tightens. Premiums for a wide-ranging variety of crude from Continue Reading
China’s New Outbreak Shows Signs the Virus Could Be Changing
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Spreadable interlayer increases solid-state battery current density 10-fold, increases stability
Inorganic NASCION‐type Li conductors have great potential to bring high capacity solid‐state lithium batteries (SSLBs) to realization, due to properties such as high ionic conductivity, stability under ambient conditions, wide Continue Reading
Americans See Climate as a Concern, Even Amid Coronavirus Crisis
Americans’ positions on climate change have remained largely unshaken by the coronavirus pandemic and economic crisis, according to a new national survey that showed acceptance of the reality of global warming Continue Reading
Biden White House would yank Keystone XL permit
Joe Biden would rescind President Donald Trump’s permit allowing the Keystone XL oil pipeline to cross the border into the U.S., a move that would effectively kill the controversial project, Continue Reading
Oil and gas industry facing major skills shortages as experts look to change careers
As the price of oil drops and the sector faces the strain of little to no investment globally, the oil and gas industry is on track for a major skills Continue Reading
GM says it is ‘almost there’ on million-mile electric vehicle battery
General Motors Co is “almost there” on developing an electric vehicle battery that will last one million miles, a top executive said on Tuesday. The automaker also is working on Continue Reading
Permian Basin Leads Decline In U.S. Shale
U.S. shale production is set to fall to a two-year low in the coming weeks, with the Permian basin leading the way down. In the latest Drilling Productivity Report , Continue Reading
3 Reasons Big Finance Is Bailing On Fossil Fuels
When two of the biggest beneficiaries of fossil fuels abandon the cause is that an omen? Start with Norway’s sovereign wealth fund, the biggest in the world. That nation created Continue Reading
Oil Industry Faces Looming Threat Of Involuntary Outages
After the forced suspension of drilling and well shut-ins, the global oil industry now faces another challenge: production outages resulting from delays in regular repairs caused by the supply-chain disruption Continue Reading
North Dakota expected to follow Texas’ lead in leaving oil cuts to market
North Dakota will likely follow Texas’ lead in letting oil market dynamics and individual producers, not state regulators, decide how much production to curtail in the face of low prices Continue Reading
Shale Output Seen Tumbling to 2018 Low
Oil production from the top seven shale regions in the U.S. is set to tumble to levels not seen since 2018. (Bloomberg) — Oil production from the top seven shale Continue Reading
Google says it won’t build AI tools for oil and gas drillers
Google says it will no longer build custom artificial intelligence tools for speeding up oil and gas extraction, separating itself from cloud computing rivals Microsoft and Amazon. A statement from Continue Reading
Why U.S. Shale Is Too Important To Fail
It may well be the case that the U.S. shale sector has cut over US$50 billion from its planned spending this year, the number of operating rigs has fallen by Continue Reading
AAA Breaks Two-Decade-Old Tradition
COVID-19 has undermined the accuracy of economic data AAA uses to predict how many Americans will travel over the Memorial Day weekend. For two decades, the American Automobile Association (AAA) Continue Reading
Spain readies law on clean energy, hails potential economic boost
Spain’s cabinet is set to approve a bill setting out a path to reduce greenhouse gas emissions to net-zero by 2050 on Tuesday, putting it on course to join a Continue Reading
Russian Oil Majors Want Bailout From Moscow
It shall not come as a surprise that Russia’s leading oil and gas companies are suffering amidst the market depression brought about by the SARS-COV-2. Most of the companies have Continue Reading
Airlines could save $15 billion from new emissions baseline: IATA
Airlines could save an estimated $15 billion in carbon offsetting costs if the International Civil Aviation Organisation uses 2019 to calculate aviation’s CO2 emissions baseline, an official with the International Continue Reading
Industry hit by weak demand finally faces threat from electric cars
Oil companies may be facing uncertainty as the coronavirus pandemic triggers a collapse in demand for their products, but automakers are betting the crisis will help accelerate an electric future. Continue Reading
Britain’s Rolls-Royce to cut 9,000 jobs amid air travel slump
Britain’s Rolls-Royce ( RR.L ) said on Wednesday it would cut at least 9,000 jobs from its global staff of 52,000 and could shut factories to adapt to the much Continue Reading
100-Year Drought Hits Poor EU Region Already Reeling from Virus
First the virus lockdown shuttered the two dairies where farmer Gavrila Tuchilus sells the milk from his 1,500 cows. Then his fields dried up, forcing him to abandon his barley Continue Reading
Are Oil Prices Rising Too High Too Soon?
Oil prices have rallied significantly, rising $10 in two weeks as markets are increasingly convinced that global demand for crude is picking up once again. Deep output cuts and the Continue Reading
The Oil Rally Is Running On Fumes
Oil prices have surged to two-month highs on growing signs of a rebound in oil demand, as the easing of lockdowns spread worldwide. At its peak in April, global lockdown Continue Reading
Oil Posts Two-Month High Amid Demand Recovery, Vaccine Hopes
Oil rose to levels not seen since Covid-19 lockdowns paralyzed the world’s largest economy, lifted by signs of recovering demand and news of a viable coronavirus vaccine. Futures in New York Continue Reading
The New Airline Travel: Fewer Flights, More Layovers, Rules for Bathrooms
Airports and airlines are rolling out temperature checks for crew and, increasingly, passengers, as well as thermal scans to spot people with elevated body temperatures. Face masks are now de Continue Reading