Israel closed 15 schools Wednesday as it rushed to contain a coronavirus outbreak that threatens to shut the rest weeks after restarting, highlighting the risk of children spreading the disease. Continue Reading
The U.S. and other powers are investigating suspected efforts by Libyan militia leader Khalifa Haftar to raise funds through oil deals, including with Emirati brokers and Venezuela, according to U.S., Continue Reading
Saudi Arabia is set to unwind the extra production cuts it pledged last month, increasingly confident that the grand bargain agreed by oil producers in April to reduce supply has Continue Reading
Given the massive negative hit taken by Saudi Arabia’s economy as a result of Crown Prince Mohammed bin Salman’s oil price war, aimed at destroying the U.S. shale oil industry Continue Reading
Saudi Arabia and Russia have reached a preliminary agreement to extend the current level of the OPEC+ production cuts by one month, provided that the laggards in compliance ensure over-compliance Continue Reading
Iraq’s nationwide exports exceeded its OPEC production quota in May, prompting the country’s acting oil minister to promise further cuts. “Despite Iraq’s severe financial constraints, we’re addressing technical issues that Continue Reading
Highlights Previously, both signed a one-year agreement Iraq paid $400 mil, or half of cost of electricity supply US extends Iraq’s sanctions waiver for Iranian electricity on May 7 Tehran Continue Reading
The United States ratcheted up its sanctions on Venezuela’s oil industry on Tuesday, focusing this time on maritime companies and their assets who have been assisting the Latin American country Continue Reading
The Trump administration is suspending passenger flights to the U.S. by Chinese airlines, saying it was retaliating after Beijing barred American carriers from re-entering China amid escalating tensions between the Continue Reading
The cancellation of import orders, first reported by Bloomberg News, involves orders made following the phase one trade pact between the two countries signed in January. China committed in the Continue Reading
China has big plans for the nation’s nuclear energy sector. While the nuclear energy targets set by Beijing have been massively delayed, the nation is still on track to take Continue Reading
Global oil demand has improved over the past few weeks, led by China’s demand which has rebounded to 90 percent of its pre-coronavirus levels, while tentative signs of improvement emerge Continue Reading
President Donald Trump’s administration on Wednesday barred Chinese passenger carriers from flying to the United States starting on June 16 as it pressures Beijing to let U.S. air carriers resume Continue Reading
Humans have lived side by side with oil development for over a century, but it’s only recently that scientists started tracking the health consequences of that proximity. A new paper published today Continue Reading
The epic damage to America’s job market from the viral outbreak will come into sharper focus Friday when the government releases the May employment report: Eight million more jobs are Continue Reading
The U.S. services sector shrank for a second month in May as the coronavirus pandemic triggered shutdowns and layoffs around the country. Activity did rise from levels last month that Continue Reading
The oil and gas industry in the United States scored a big win this week after the EPA narrowed the focus of a rule that up until now, allowed states Continue Reading
Occidental Petroleum is evacuating some of its Gulf of Mexico oil facilities ahead of the anticipated storm Cristobal, Occidental said on Wednesday. The evacuated workers so far will be limited Continue Reading
What goes up, must come down. And, this is most certainly true for the mighty North Dakota Bakken… the second-largest shale oil-producing region in the United States. Even after the Continue Reading
Pioneer Energy Services Corp. has emerged from Chapter 11 bankruptcy protection, completing its debt restructuring process and implementing the previously announced reorganization plan. In connection with the restructuring, Pioneer slashed Continue Reading
As oil and gas companies began shutting offshore production before the first tropical storm of the season in the U.S. Gulf of Mexico, experts said restarting wells and refineries will Continue Reading
Fifteen U.S. airlines were granted final government approval on Wednesday to temporarily halt service to 75 domestic airports as travel demand has been crushed due to the coronavirus pandemic. The Continue Reading
Chesapeake Energy spearheaded the shale revolution a decade ago that ushered in an era of US energy independence, embodying a period of corporate extravagance as it rose to become a Continue Reading
A single event just made an already critical metal that’s been cornered by China worth more than ever. For the first time in a decade, SpaceX and NASA last weekend Continue Reading
The advance of renewable energy and electric vehicles (EVs) has incentivized scientists to look into various ways to solve the problem with efficient energy storage, which is the key to Continue Reading
Oil traders and analysts scrutinizing U.S. inventory data for signs of a market recovery are being confronted by an odd situation. (Bloomberg) — Oil traders and analysts scrutinizing U.S. inventory Continue Reading
Minnesota regulators plan to conduct a longer, contested process for granting the project a key permit. (Bloomberg) — Enbridge Inc.’s replacement and expansion of its Line 3 crude-oil pipeline faces Continue Reading
The nation’s biggest oil and gas companies could end up even bigger by the end of the coronavirus pandemic. Analysts expect a coming wave of bankruptcies should the price of oil Continue Reading
The European Union told automakers to do more to meet stringent emission targets after a new report showed carbon dioxide pollution from cars increased. Average emissions of new passenger cars registered Continue Reading
British Prime Minister Boris Johnson pledged Wednesday to overhaul immigration rules to grant almost 3 million Hong Kong residents a pathway to British citizenship, a response to Beijing’s move to impose a Continue Reading
Russia’s Rosneft ( ROSN.MM ), which closed its oil trading arm after sanctions were imposed by U.S. authorities in February, has set up a new Geneva-based trading business, four trading Continue Reading
Russian Energy Minister Alexander Novak said on Thursday that the global oil market could face a shortage of 3-5 million barrels per day (bpd) in July, depending on a deal Continue Reading
U.S. senators will announce a bill this week expanding sanctions on Russia’s Gazprom-led Nord Stream 2 project, Senate aides said, targeting a pipeline Washington says will make Europe too reliant Continue Reading
The Netherlands ordered a mass mink cull to extinguish a coronavirus outbreak linked to at least two human cases, hastening the demise of an industry ordered to cease by 2024. Continue Reading
Russia declared a federal state of emergency in the Krasnoyarsk region as pollution from a diesel spill in the Arctic city of Norilsk drew comparisons with the Exxon Valdez accident off Continue Reading
May was the U.K’s driest month in 124 years, and this spring was its sunniest on record. That came as welcome relief to millions of people locked down at home to slow the Continue Reading
The leaked diesel oil drifted some 12km (7.5 miles) from the site of the accident Russia’s President Vladimir Putin has declared a state of emergency after 20,000 tonnes of diesel Continue Reading
Some 20,000 tons of fuel and lubricants spilled into an Arctic river near the industrial city of Norilsk and it will take decades for the river, Ambarnaya, to recover, the Continue Reading
Crude oil futures were trading higher in mid-morning trade in Asia June 3, with the prompt-month ICE Brent contract rallying above $40/b amid optimism that OPEC+ would extend its supply Continue Reading
Brent oil rose above $40 a barrel for the first time in almost three months on signs that OPEC+ producers are close to agreeing on a short extension of their Continue Reading
Oil rose on Wednesday, topping $40 a barrel for the first time since March, supported by lower U.S. inventories, expectations OPEC+ will keep oil output cuts in place and signs Continue Reading
The American Petroleum Institute (API) estimated on Tuesday a small crude oil inventory draw of 483,000 barrels for the week ending May 29. Analysts had predicted an inventory build of Continue Reading
Global air freight demand in April recorded its steepest drop ever as capacity crunch continued to plague the international cargo market due to coronavirus-related travel restrictions, the International Air Transport Continue Reading
The architect of Sweden’s controversial approach to fighting the coronavirus says he would change things in hindsight because of the country’s high death rate. Brazil reported a record day of deaths. President Donald Continue Reading
The world’s largest banks have issued billions in loans to sustainable businesses and taken some steps to restrict funding for some of world’s worst polluters. But the greening of global Continue Reading
The world’s largest banks have issued billions in loans to sustainable businesses and taken some steps to restrict funding for some of world’s worst polluters. But the greening of global Continue Reading
Coronavirus has exposed a lack of investment in the big batteries crucial to unlocking solar and wind power. A drop in energy demand caused by the pandemic has left European grids Continue Reading
As OPEC+ producers head toward a consensus on extending their output curbs, oil’s rally is prompting some U.S. producers to open their taps once again. With U.S. futures rising as Continue Reading
As Iran fought to contain the coronavirus epidemic, governments including Saudi Arabia and Iraq closed some of the world’s largest religious sites and canceled prayers. Iran is rolling back coronavirus Continue Reading
OPEC’s second-largest producer and the biggest laggard in the output cuts, Iraq, will further reduce production and remains committed to the OPEC+ pact, Iraqi Deputy Prime Minister and acting Oil Continue Reading
