Major reductions totaling almost 200,000 bpd were not nearly enough to bring Iraq’s May production in line with an OPEC-plus agreement. Workers from the Iraqi Drilling Company begin drilling a Continue Reading
Iraq and the United States have affirmed their commitment to the withdrawal of U.S. troops from Iraq without giving a timeline, state news agency INA said on Friday, citing Iraq’s Continue Reading
Saudi Arabia is considering cancelling the hajj pilgrimage season for the first time since the kingdom was founded in 1932, after cases of coronavirus in the country topped 100,000. “The issue Continue Reading
Oil production in Iraq’s semi-autonomous Kurdistan region has fallen 10 percent so far this year, as oil companies respond to shrinking cash flows by reducing capital expenditures and laying off Continue Reading
New Delhi’s regional government has been accused of under reporting coronavirus deaths as the country eases its strict lockdown in an attempt to kick-start the economy. Senior doctors and hospital executives Continue Reading
India’s oil demand has rebounded from levels witnessed during the lockdown, prompting refiners to raise throughput, but consumption will struggle to recover to year-ago levels in coming months and keep Continue Reading
The United States is investigating and trying to get to the bottom of reports that Libya’s eastern-based commander Khalifa Haftar’s plane was in the Venezuelan capital Caracas last week, a Continue Reading
The collapse in oil prices and the tightening U.S. sanctions against Venezuela have accelerated the decline of the oil industry in the country sitting on the largest crude oil reserves Continue Reading
A policy watchdog in Mexico this week halted the introduction of a set of regulations aimed at further restricting the participation of private clean energy generators in the country, according Continue Reading
China might lead the world in battery vehicles, but until recently it was a relative laggard in hydrogen, but now, it’s catching up. Receive daily email alerts, subscriber notes & Continue Reading
China’s state-owned power giants have been asked to prepare reports on historical emissions that officials will use to set up the world’s largest carbon market, according to people familiar with Continue Reading
When a week ago, Rystad Energy reported that the oil and gas industry was divesting more than 12 billion barrels of oil equivalent in assets, it hardly came as a Continue Reading
Highlights US-China LNG flows already constrained by weak markets Chinese buyers unsure about applying for LNG tariff exemptions China not on track to meet energy targets of Phase 1 trade Continue Reading
Scientists from Kyushu University and Kumamoto University in Japan have developed a new catalyst capable of assisting three key reactions for using hydrogen in energy and industry. Inspired by three Continue Reading
Wall Street plummeted on Thursday as investors reacted to renewed fears of a pandemic resurgence and digested dour economic forecasts from the U.S. Federal Reserve. All three major U.S. stock Continue Reading
A month into efforts to broadly reopen the U.S. economy there is little clarity either on the pace and durability of the recovery, or on the ability to convincingly suppress Continue Reading
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Treasury Secretary Steven Mnuchin said the U.S. shouldn’t shut down the economy again even if there is another surge in coronavirus cases. “We’ve learned that if you shut down the economy, Continue Reading
Joe Biden on Thursday laid out an eight-step plan to reopen the economy safely and restore consumer confidence, seeking to strike a contrast with President Donald Trump’s calls for states Continue Reading
A pattern change may drive sustained, expansive heat over much of the U.S. and Canada if long-range forecasts are right Summer 2020 may go down in the books as much Continue Reading
Plants and their ingenious way of turning light and air into fuel have been an inspiration for many scientists. Now, photosynthesis has made the basis for a possible solution to Continue Reading
Following the publication of the upstream industry’s first quarter results, a Rystad Energy analysis reveals a gloomier investment-budget picture than previously thought. Global spending is now forecasted to reach $383 Continue Reading
The US oil and gas rig count fell by 12 to 299 on the week, Enverus said June 11, as upstream operators continued taking rigs out of domestic fields as Continue Reading
Despite environmental concerns, California will allow PG&E Corp. to use diesel-powered mobile generators to keep some electricity flowing when the utility proactively cuts power to prevent live wires from sparking fires Continue Reading
Many U.S. shale firms have cruised through the past couple of years by borrowing money and drilling new wells, making the United States the world’s top crude oil producer. The Continue Reading
It’s been a tough year for U.S. shale. Even before the novel coronavirus pandemic pummeled oil markets, the shale revolution had been pronounced dead, with investors shying away from the Continue Reading
The low oil price environment is causing hardship for US operators as NYMEX light, sweet crude trades around $35/b. In reaction to the sharp decline in oil prices, 38 US Continue Reading
Exxon Mobil Corp. will delay the startup of its Beaumont refinery expansion on the Texas Gulf Coast by a year as the oil giant weathers low demand for petroleum products Continue Reading
ExxonMobil is considering moving forward with its sale of some North Sea assets after months of delays, industry and banking sources told Reuters on Thursday. The sale, with the potential Continue Reading
France doesn’t expect to see shortages of electricity or power blackouts even though nuclear power output in the country will be lower this year due to disruptions to nuclear reactors Continue Reading
Belarus’ Naftan refinery started unloading first ever barrels of US crude, operator Belneftekhim spokesman Alexander Tishchenko was quoted as saying June 11 by the Belta news agency. Receive daily email Continue Reading
Britain’s economy shrank by a quarter in the March-April period as entire sectors were shuttered by the coronavirus lockdown, reaching what looks likely to be the bottom of a “catastrophic” Continue Reading
A Russian city nestled in the vast Siberian forest — 2,000 miles and four times zones east of Moscow — has air so bad that the authorities regularly warn people Continue Reading
Eurozone industrial production plunged by a record 17.1 per cent in April, as the coronavirus pandemic caused major disruption to businesses across almost all manufacturing and construction sectors of the Continue Reading
Oil prices fell on Thursday, hit by another record build-up in U.S. crude inventories and the U.S. Federal Reserve’s projections that the world’s biggest economy would shrink 6.5% this year. Continue Reading
Oil rebounded from earlier losses on Wednesday, even as U.S. data showed crude inventories rose to a record high, reviving worries of a persistent glut due to weak demand. Crude Continue Reading
Bullish sentiment appears to have returned to the stock markets with a vengeance. In a historic rally that has taken even die-hard bulls by surprise, the S&P 500 has managed Continue Reading
How did oil price change in recent centuries? Read about the major milestones in the history of oil, who are the main oil producers, and what defines its price. One Continue Reading
The coronavirus pandemic and the resulting oil price crash are set to wipe out as much as US$1.8 trillion from the revenues of oil and gas exploration and production companies Continue Reading
Global natural gas markets are facing the largest demand shock in recorded history. According to the International Energy Agency’s (IEA) new Gas 2020 report, consumption of natural gas is expected Continue Reading
There are very few industries in the world that have been hit as hard or are set to face as many consequences as the oil and gas industry in 2020. Continue Reading
The global gas market is expected to experience its “largest demand shock on record” in 2020, the International Energy Agency said June 10, with consumption set to fall 4% on Continue Reading
Qatar told government-funded entities to cut spending on non-Qatari staffers’ wages as it tries to shore up its finances to cope with the impact of the coronavirus pandemic. The Ministry Continue Reading
The assailants came at dusk, creeping on foot through the dusty palm groves near the Tigris River, armed only with a rocket-propelled grenade, a light machine gun and Kalashnikovs. They Continue Reading
Since firebrand cleric Moqtada al-Sadr became the effective leader of Iraq after the victory of his ‘Sairoon’ (‘Marching Forward’) power bloc in the May 2018 general elections, the practical application Continue Reading
The El Feel oilfield in Libya is shut down again, days after restarting production following months of blockade amid Libya’s civil war, engineers at the oilfield and the National Oil Continue Reading
Highlights NOC confirms closure of two key Western oil fields Brief closure at Mellitah gas complex due to Italy, Greece maritime deal More oil and gas disruptions likely as civil Continue Reading
Businesses in India from car dealers to clothing retail chains are ready for customers as the economy reopens, but shoppers are holding back. “While the supply situation seems to be nearly Continue Reading
Mexico’s economic and financial outlook has worsened amid the coronavirus pandemic, and temporary measures to shore up the financial system will remain in place, the central bank said on Wednesday. Continue Reading
While the coronavirus pandemic is accelerating the death of coal in developed nations, the dirtiest fossil fuel is alive and kicking in Asia. Demand for electricity plunged — and with it Continue Reading
