Storage Saga Contributes to New Oil Market Chapter
The Next Normal for Oil and Gas Is Unfolding As certain longstanding assumptions in the oil and gas market go by the wayside, at least temporarily, there is much interest Continue Reading
The world is running out of space to keep oil. Where will it go?
At beginning of this year, oil in the United States was selling for around $60 a barrel. Now you can barely get rid of the stuff; at $12 a barrel Continue Reading
Oil Tanker Rates Plunge More Than 50% As OPEC+ Cuts Start
The daily rate for chartering an oil tanker from Saudi Arabia to China has plunged by over 50 percent in one week to $100,000 as OPEC+ begins on Friday the Continue Reading
Mobile Power Stations Are Taking to the High Seas
As economic lockdowns complicate efforts to bring electricity to every corner of the planet, one company is putting generation units on ships that can sit offshore and plug into local Continue Reading
A Satellite Lets Scientists See Antarctica’s Melting Like Never Before
Using their elevation data, the researchers found that Greenland is losing about 200 billion tons of mass each year on average. That’s enough to raise sea levels by about eight Continue Reading
CO2 Emissions Expected To Fall To 8-Year Lows
The International Energy Agency expects carbon dioxide emissions to decline by 8 percent this year due to the devastation the coronavirus wreaked on energy demand. The agency said in the Continue Reading
Saudi Outlook Cut to Negative at Moody’s as Reserves Tumble
Saudi Arabia’s outlook was cut to negative from stable by Moody’s Investors Service as the crash in oil prices and the pandemic sent the kingdom’s reserves plunging to their lowest Continue Reading
Coal India April Shipments Fall 25.5% as Lockdown Erodes Demand
Coal India Ltd.’s shipments in April slumped 25.5% from a year earlier after more than a month-long nationwide lockdown halted economic activity, eroding demand for India’s most dominant energy source. Shipments dropped Continue Reading
Chevron Doesn’t Plan To Exit Venezuela
Chevron is complying with the U.S. Administration’s requirements, but it is not winding down all activities in Venezuela preparing to leave the country, the U.S. supermajor’s chief executive officer Michael Continue Reading
Harbin city shuts eateries, coronavirus curbs ease elsewhere in China
A northeastern Chinese city of 10 million people struggling with currently the country’s biggest coronavirus cluster shut dine-in services on Saturday, as the rest of China eases restrictions designed to Continue Reading