Russia’s $1.6 trillion economy is going to be dealt another blow when a moratorium is lifted on companies filing for bankruptcy. The measure, which was a condition of government pandemic support, Continue Reading
European Union carbon dioxide emissions this year are set to fall to a level not seen since the late 1950s. The fallout from the coronavirus that saw industry shut down, businesses Continue Reading
Delta Air Lines was hoping to restart flights next month from New York to Athens and Lisbon, two popular summer destinations, but it will probably have to wait a little Continue Reading
According to provisional data published by the European Environment Agency (EEA), average CO 2 emissions from new passenger cars registered in the European Union (EU), Iceland, Norway and the United Continue Reading
Crude oil futures were trading higher in mid-morning trade in Asia June 26 after positive US economic data buoyed market sentiment about an improved demand outlook, despite fresh outbreaks of Continue Reading
Oil prices inched up on Friday as the bullish impetus from signs of fuel demand recovery was kept in check by a rising number of new coronavirus cases in the Continue Reading
NYMEX prompt-month Henry Hub futures prices plunged to a 25-year low on June 25 as rising gas storage inventories and pandemic-related demand weakness continue to weigh on the market. In Continue Reading
Natural gas prices near a 25-year low on Thursday morning as fundamentals are turning bearish. August NatGas futures slid 2% to 1.612 MMBtu on Thursday morning, weighed down by the Continue Reading
Oil prices rose about 2% in a volatile session on Thursday, buoyed by signs of a marginal improvement in the U.S. economy and a tepid rise in fuel demand, but Continue Reading
The recent optimism in oil markets has left many analysts scratching their heads, with no real fundamental reason for the shift in sentiment. Demand projections that suggest Asia or the Continue Reading
World trade experienced an “unprecedented” decline in April as most big economies suffered from strict coronavirus lockdowns, according to widely watched data which found that the eurozone was the hardest-hit Continue Reading
Saudi Arabia made good on its promise to flood the market with oil after the collapse of the previous OPEC+ deal in early March. In April, the value of Saudi Continue Reading
Iran on June 25 officially started building a 1,000-km (620-mile) pipeline to avoid the disputed Strait of Hormuz for its future oil exports, state television reported. The Goureh-Jask route will bring Continue Reading
Argentina is often cited as the likely candidate for the next big shale boom, and Vaca Muerta is often described as having the potential to be South America’s Permian basin. Continue Reading
U.S. oil companies are calling on President Donald Trump to help persuade Mexican President Andrés Manuel López Obrador not to ditch the energy reforms that his predecessor launched, opening Mexico’s Continue Reading
Oil producers across the globe are grappling with the worst combination of events for the industry ever China’s state-held oil firms have taken a particularly bad tumble from the price Continue Reading
Singapore’s geographic location makes it a hot spot for physical oil trading. Hin Leong Trading was just named in a major $3 billion oil trading scandal The revelation of the Continue Reading
Crude oil demand from Chinese refineries slowed down in June, amid poor refining margins and ample stocks, market sources told S&P Global Platts over the week starting June 21. Receive Continue Reading
Asian air passenger traffic faltered for the fourth consecutive month in May as air travel demand buckled under the pressure of the coronavirus pandemic, preliminary data released by the Association Continue Reading
Government experts believe more than 20 million Americans could have contracted the coronavirus, 10 times more than official counts, indicating many people without symptoms have or have had the disease, Continue Reading
The number of laid-off workers seeking U.S. unemployment aid barely fell last week, and the reopening of small businesses has leveled off — evidence that the job market’s gains may Continue Reading
The U.S. economy shrank at a 5.0% rate in the first quarter and a vastly worse performance is expected in the current three-month period, when the coronavirus pandemic began to Continue Reading
Production restarts in Texas might happen faster than originally thought by the market. The majority of respondents in the Dallas Fed survey replied that oil prices above $35 are sufficient Continue Reading
U.S. trade deficit in goods unexpectedly widened in May versus forecasts for a narrower deficit, due to what analysts saw as a slide in exports mostly driven by oil. The Continue Reading
The Attorney General of Minnesota filed a lawsuit against Exxon, the American Petroleum Institute, and Koch Industries, alleging they spent decades deceiving the public about climate change. The charges, brought Continue Reading
The Dallas Fed Energy Survey’s Q2 assessment of oil and gas firms in the Eleventh District showed that oil and gas activity deteriorated in Q2, according to oil and gas Continue Reading
Amid record-breaking additions to the new Covid-19 case count in Texas, oil companies in the state have suspended plans to return staff to offices, Reuters reports . Health officials in Continue Reading
The US Energy Information Administration’s annual report on American refineries showed capacity topped 20 million b/d in 2020, as refiners increased their ability to run more price-advantaged domestic crude to Continue Reading
The US midstream oil sector is headed deep into a period of hibernation, with pipeline projects delayed or put on hold indefinitely as the coronavirus pandemic continues to dampen global Continue Reading
Last week’s addition to natural gas in storage proved much larger than the market expected, prompting the remaining Henry Hub summer strip to fall more than 10 cents. Receive daily Continue Reading
Thanks to spiking COVID-19 cases, US gasoline consumption in the second week of April amounted to just 49 percent of volumes during the same period in 2019. Thanks to spiking Continue Reading
A Colorado environmental group is reviving a push to get an anti-fracking measure on the U.S. state’s November ballot, just two weeks after a prior sponsor said it was halting Continue Reading
The number of laid-off workers seeking U.S. unemployment aid barely fell last week, and the reopening of small businesses has leveled off — evidence that the job market’s gains may Continue Reading
Companies from Disney to Apple are grappling with whether to reopen or close as coronavirus cases surge; the Democratic Party urges delegates to skip the summer convention; demand for a Continue Reading
The Trump administration proposed on Thursday to open more than two-thirds of the nation’s largest piece of public land to oil and gas drilling, removing wildlife protections for the Alaskan tract Continue Reading
Michigan judge ordered June 25 that Enbridge to shut its Line 5 crude and NGL pipeline after damage to the system’s support structure was identified last week. Receive daily email Continue Reading
At least two Russian banks are lending some $6 billion to the oil industry to drill new wells that could add 200,000 bpd to the country’s production quickly. It is Continue Reading
Close to 20,000 new cases are being recorded daily in the WHO’s European region Europe has seen an increase in weekly cases of Covid-19 for the first time in months Continue Reading
The European Union (EU) has a commendable green recovery plan, but it needs more robust policies than those currently in place if it were to meet its ambitious targets to Continue Reading
European Central Bank President Christine Lagarde said the recovery from the coronavirus pandemic will be “restrained” and will change parts of the economy permanently. While the worst of the crisis Continue Reading
Oil extended declines after swelling U.S. crude stockpiles and a surge in coronavirus cases across the nation raised concerns about demand in the world’s largest economy. Futures in New York slipped Continue Reading
Global gas prices in late June are up from record lows amid a recent but modest uptick in demand, fueled by easing virus-related lockdowns and rising summer temperatures. In Northeast Continue Reading
A spike in U.S. coronavirus cases is threatening the oil market’s recovery from its historic plunge into negative territory. Futures in New York slid 5.9% to the lowest in a week on Continue Reading
JP Morgan’s recent prediction that oil prices would hit $190 has reignited a conversation about how high the looming supply crunch will send oil. The U.S. shale boom transformed the Continue Reading
Global energy demand is set to fall by 6% in 2020, the largest in 70 years, due to the coronavirus pandemic, an expert with the International Energy Agency said June Continue Reading
New Analysis by Boston Consulting Group Reveals That the COVID-19 Crisis May Have Brought Forward an Expected Decline in Demand for Fossil Fuels by More Than a Decade, Making a Continue Reading
Hassan Rouhani, Iran’s president, warned exporters that they risk prosecution if they keep their foreign currency earnings offshore as Tehran struggles to stabilise the plummeting rial. The Iranian currency has fallen Continue Reading
Emirates operated world’s biggest fleet of A380 before coronavirus pandemic Airline currently flying to over 40 destinations Dubai to welcome tourist, business travelers from July 7 Dubai — Emirates, the Continue Reading
Iran is pressing Iraq to expand its already game-changing oil and gas infrastructure deal with China. Tehran is looking to include Iraq in the Sino-Russian power bloc in order to Continue Reading
Iraq has raised estimates for its oil income and export prices for May, the oil ministry said on June 24, as OPEC’s second-largest producer benefits from the uptick in global Continue Reading
