Why Saudi Arabia Is Desperate To Extend OPEC+ Cuts
OPEC+ hopes to reduce global storage volumes with their production cuts, and hopes to extend them through at least, the summer. OPEC’s regular meeting in Vienna is coming up and Continue Reading
Virus has been ‘very devastating’ for many African airlines
A “new baby” was born with the revival of Uganda Airlines, the country’s president announced last year. But now its four new jets sit idle, business suspended indefinitely because of Continue Reading
Nigeria Loses N160bn to Opec Production Cut
Nigeria is projected to have lost over N160 billion in deferred revenue to a cut in the daily crude oil production by members of the Organisation of Petroleum Exporting Countries Continue Reading
Mumbai streets deserted as India’s biggest city braces for cyclone
Bracing for the first-ever cyclone to hit Mumbai in living memory, people in India’s most populous metropolis stayed off the streets and scrambled to protect their homes before the torrential Continue Reading
U.S. Steps Up Sanctions Against Venezuela’s Maritime Oil Trade
The Trump administration escalated sanctions against Venezuela’s oil industry, targeting four maritime companies for supporting the “illegitimate” government of President Nicolas Maduro. The Treasury’s Office of Foreign Assets Control also identified Continue Reading
U.S. Tightens Squeeze on Venezuela Oil Trade, Blacklisting Four Tanker Owners
The Trump administration Tuesday tightened its web of sanctions around the Maduro regime in Venezuela, blacklisting four companies allegedly involved in the country’s oil sector. By sanctioning the firms and Continue Reading
China Revives Plans For Huge $20B Refinery, Petrochemical Complex
China has given the go-ahead to plans for a huge $20-billion refinery and petrochemical complex in the Shandong province, the home of the country’s independent refiners, Reuters reported on Tuesday, Continue Reading
Shell weighs sale of $2 billion-plus stake in Queensland LNG facilities
Royal Dutch Shell ( RDSa.L ) is considering raising more than $2 billion from the sale of a stake in the common facilities at its Queensland Curtis LNG plant in Continue Reading
New low-cost and high-performance multinary intermetallic compound as active electrocatalyst for hydrogen production
A team comprising scientists who specialize in structure materials at City University of Hong Kong (CityU) has developed a high-performance electrocatalyst based on an innovative concept originally for developing alloys. Continue Reading
Will Sodium Batteries Replace Lithium-Ion?
While everyone else was worrying about cheap oil and the future of electric cars, sodium batteries just got closer to becoming mainstream. This challenger to lithium ion technology has been Continue Reading
Bill Gates And Big Oil Are Chasing The Nuclear Fusion Dream
The decades-old debate over nuclear fusion vs. fission is on the edge of a breakthrough as startup Commonwealth Fusion Systems wins over Bill Gates and other backers. Norwegian oil and Continue Reading
U.S. Solar Set for Its Third-Best Year Ever Despite Coronavirus
This year was shaping up to be Sunnova Energy International Inc.’s best ever. California—already the biggest U.S. solar market—had started requiring most new homes to be powered by the sun. The rooftop Continue Reading
Pandemic-fueled summer blues set in at US Gulf Coast LNG export facilities
Weak LNG prices and unfavorable economics for deliveries to Asia and Europe suggest US export volumes will remain depressed through much if not all of the summer and perhaps beyond. Continue Reading
Texas, Louisiana coasts on watch for Tropical Storm Cristobal this weekend
Tropical Storm Cristobal has developed in the southern Gulf of Mexico, putting offshore drillers and Texas and Louisiana refiners on watch for potential impacts later in the week. Receive daily Continue Reading
Shale Oil Production Bouncing Back With Prices
Early signs of a shale rebound are becoming evident as crude prices recover. (Bloomberg) — Early signs of a shale rebound are becoming evident as crude prices emerge from their Continue Reading
U.S. Oil Drillers Restart Production As Prices Recover
Shale drillers are bringing some shuttered oil production back online as the glut eases. The total amount of shut-in production in the Bakken stood at 475,000 bpd on May 28, Continue Reading
New Study Shows Global Warming Intensifying Extreme Rainstorms Over North America
New research showing how global warming intensifies extreme rainfall at the regional level could help communities better prepare for storms that in the decades ahead threaten to swamp cities and Continue Reading
Europe’s Natural Gas Glut May Force Supply Cuts
Europe is so awash with natural gas amid weak demand and limited storage capacity that gas suppliers may have to cut flows to prevent natural gas prices from plunging further. Continue Reading
Oil steadies ahead of OPEC+ meeting
Crude oil futures were steady to marginally higher in mid-morning trade in Asia June 2 as traders looked toward a possible extension of output cuts by OPEC+ in an upcoming Continue Reading
Oil prices rise ahead of OPEC+ meeting on extended output cuts
Oil prices rose on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a virtual meeting expected later Continue Reading
Oil Rally Fizzles With OPEC+ Set to Discuss Extending Its Curbs
Oil’s record rally sputtered as investors assessed whether OPEC and its allies will extend the supply curbs that helped drive prices higher. Futures settled slightly lower in New York on Continue Reading
Uncertainty About OPEC+ Cuts Has Oil Struggling to Sustain Rally
Oil’s record rally sputtered as investors assessed whether OPEC and its allies will extend the supply curbs that helped drive prices higher. Futures settled slightly lower in New York on Monday Continue Reading
Three Reasons Oil Prices Are Bouncing Back
Oil prices have come a long way since the deep dive into negative territory a month ago. One could argue that the price of West Texas Intermediate (WTI) is now Continue Reading
Mass Extinctions Are Accelerating, Scientists Report
We are in the midst of a mass extinction, many scientists have warned — this one driven not by a catastrophic natural event, but by humans. The unnatural loss of biodiversity is Continue Reading
Oil Majors Face Another Impossible Decision
The oil industry only has two choices as it reshapes itself after the oil price crash — either become broader energy firms or pursue a narrower specialization in oil and Continue Reading
Plunging cost of wind and solar marks turning point in energy transition: IRENA
Plunging costs of renewables mark a turning point in a global transition to low-carbon energy, with new solar or wind farms increasingly cheaper to build than running existing coal plants, Continue Reading
‘Going in the Wrong Direction’: More Tropical Forest Loss in 2019
Destruction of tropical forests worldwide increased last year, led again by Brazil, which was responsible for more than a third of the total, and where deforestation of the Amazon through Continue Reading
The Future Of Wind Energy
Proponents of renewable energy have faced criticism for years that while wind and solar power generate clean energy, the supply chain behind the technologies used in wind tower turbines and Continue Reading
Will OPEC+ Extend Its Historic Production Cut Agreement?
OPEC+ is set to bring forward its meeting to Thursday, with a short extension of the current production cuts as the most likely outcome. Originally scheduled to take place on Continue Reading
OPEC-led production cuts will likely pack a punch in lifting oil prices: survey
OPEC+’s landmark production cut deal along with a pickup in demand in the east of Suez may prove effective in raising the official selling prices for the Middle East crude Continue Reading
Saudi foreign reserves fall as sovereign wealth fund spends overseas
Saudi Arabia’s net foreign reserves fell by about $21bn in April after Riyadh transferred billions of dollars to its sovereign wealth fund to finance its overseas spending spree. Figures released by Continue Reading
Israel Is Betting Big On Solar Power
Israel, which hopes to become energy-independent with its huge natural gas fields, is aiming to significantly boost its solar power generation over the next decade under a new US$22.8 billion Continue Reading
Iraq’s oil exports fall 6.6% in May as OPEC producer sold oil at $21/b: ministry
Iraq’s oil exports, excluding those from the semi-autonomous Kurdish region, fell 6.6% in May, according to the oil ministry, indicating that OPEC’s second-biggest oil producer may have struggled to cut Continue Reading
Gulf region to suffer worst recession in 2020 due to oil crash, coronavirus: IIF
Economy of six-member GCC to contract 4.4% in 2020 Oman’s economy to shrink the most Oil GDP will contract 5.3% due to OPEC+ cuts The six-member Gulf Cooperation Council will Continue Reading
Iran ready to ship more fuel to Venezuela despite US ‘threats’
Iranian tankers carrying at least $45.5m worth of gasoline sailed into Venezuela without incident [Marcos Moreno/AP] Iran has said it will continue fuel shipments to Venezuela if Caracas requests more Continue Reading
Confusion Reigns in Venezuela on First Day of Higher Gas Prices
In the first day of higher gasoline prices in Venezuela, it’s hard to say who’s more confused. The attendants at the pump? Or the drivers. The good news is that there’s Continue Reading
China warns U.S. it will retaliate on moves over Hong Kong
China said on Monday U.S. attempts to harm Chinese interests will be met with firm countermeasures, criticising a U.S. decision to begin ending special treatment for Hong Kong as well Continue Reading
China tells state firms to halt purchases of major U.S. farm products: sources
China has told state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, after Washington said it would eliminate special Continue Reading
China snaps up Russia’s expensive Urals oil in thirst for sour barrels
China’s refiners have purchased a quarter of Russia’s Urals oil exports planned for June in the Baltic despite record-high premiums for the grade due to a lack of sour barrels Continue Reading
A Unique Engine Is Bringing Power to a Remote Philippine Island
An Israeli startup is hoping a new engine design can help bring power to remote outposts in Asia. Aquarius Engines Ltd. announced a partnership with Nokia Oyj on Monday and plans to begin field Continue Reading
China Is Trying to Salvage Its Bruised Electric-Car Industry
China is quietly reinforcing its car industry, pushing a range of support measures and levers to help salvage its world-leading push into electric vehicles. The coronavirus pandemic and oil-price slump Continue Reading
Commodities In Crisis As Geopolitical Turmoil Hits Key Markets
U.S.-China tensions have bubbled up again, and commodity markets could be caught up in the turmoil, not least LNG. Aviation activity and jet fuel are also in the mix this Continue Reading
China auto sales set to rise 12% in May: industry body
China’s vehicle sales for May are set to rise 11.7% year on year to 2.14 million, the country’s top auto industry body said in a post on its official WeChat Continue Reading
China Sees Room to Boost Renewable Installations by 52% in 2020
China this year will be able to absorb 52% more new wind and solar power capacity than in it added 2019. The world’s biggest energy consumer has space on its grids Continue Reading
Australia Water Crisis: Climate Change, Industrial Farms Dry Up the Heartland
The early afternoon sun was pounding the parched soil, and Gus Whyte was pulling on his dust-caked cowboy boots to take me for a drive. We’d just finished lunch—cured ham, Continue Reading
U.S. manufacturing activity off 11-year low; construction spending falls
U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from Continue Reading
U.S. EPA moves to curb state powers to deny permits for energy projects
U.S. Environmental Protection Agency chief Andrew Wheeler will sign a rule on Monday that would limit state powers to block pipelines, coal terminals and other energy infrastructure projects, according to Continue Reading
Coronavirus pandemic could give Democrats easier way to repeal major Trump EPA rules – The Washington Post
If Democrats win big in the November election, they may have an unusual way of quickly repealing some important Trump administration environmental rollbacks. That’s because the coronavirus pandemic has upended Continue Reading
U.S. manufacturing activity crawls off 11-year low
U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from Continue Reading
Electric Car Chargers Will Determine America’s Green Future
As long as there aren’t enough fast plugs in enough places, buyers and big automakers will stay away. View full article at www.bloomberg.com