Another oil crisis – Pakistan
Pakistanis recently witnessed a repeat of the 2015 petroleum shortage. The reason was, once again, the falling global prices and the attempt by the oil industry to avoid inventory losses. Continue Reading
Exclusive: Oil tankers carrying two months of Venezuelan output stuck at sea
Tankers carrying nearly two months’ worth of Venezuelan oil output are stuck at sea as global refiners shun the nation’s crude to avoid falling foul of U.S. sanctions, according to Continue Reading
In Rare Move, Beijing Orders Gas Importers To Share Infrastructure
Chinese authorities have ordered state gas importers to share their infrastructure in a bid to avoid another gas shortage like the one it experienced in the winter of 2017. In Continue Reading
To beat the heat, Vietnam rice farmers resort to planting at night
Under a pitch-black night sky, a group of Vietnamese farmers planted rice this week in a paddy field on the outskirts of the capital Hanoi using head lamps to illuminate Continue Reading
China expands coal plant capacity to boost post-virus economy
China is approving plans for new coal power plant capacity at the fastest rate since 2015, in a sign that pressure to stimulate the economy is undermining a transition towards Continue Reading
A Star is Born. What’s Happening on the Front Lines of Fusion
Fusion power, a form of power that is highly efficient, secure and eco-friendly with a virtually inexhaustible supply of fuel, is being eyed as the solution to current major energy Continue Reading
DOJ whistleblower cites Trump tweets as impetus for California emissions probe
A Department of Justice (DOJ) investigation into California’s efforts to reduce vehicle emissions appeared to be politically motivated, a DOJ whistleblower wrote in testimony to lawmakers that was released Tuesday. Continue Reading
Summary of Weekly Petroleum Data for the week ending June 19, 2020
U.S. crude oil refinery inputs averaged 13.8 million barrels per day during the week ending June 19, 2020 which was 239,000 barrels per day more than the previous week’s average. Continue Reading
Three U.S. governors to quarantine visitors from states where COVID-19 spiking
As the number of new coronavirus cases surged in many areas of the United States, New York, New Jersey and Connecticut – once at the epicenter of the outbreak – Continue Reading
Americans Face New Virus Limbo as Some Reopenings Are Halted
Soaring cases of the coronavirus are forcing cities and states across the country to halt plans to restart their economies and even reimpose earlier limits on public life, increasing worries Continue Reading
Which Oil Major Is The Most Resilient?
Wood Mac analysts looked into supermajors’ costs, balance sheets, and portfolios, to rank them based on what the consultancy calls cash margin. On this basis, Chevron topped the ranking with Continue Reading
U.S. Shale Could Take Years To Recover From The Oil Price Crash
U.S. oil production will probably take more than two and a half years to return to its record 13 million barrels per day. The price crash has led to at Continue Reading
The Next Step In The Electric Vehicle Evolution
The electric vehicle revolution has turned out to be more of an evolution, with the industry making slow and steady progress. Despite this progress, the electric vehicle industry is still Continue Reading
North Dakota Oil Income Crashes By 81%
North Dakota has suffered an 81-percent decline in oil and gas revenues in April. Between March and mid-April, North Dakota oil producers idled some 40 percent of drilling rigs. Oil Continue Reading
Elevated US gas storage combines with lower exports to create bearish price picture
With natural gas storage volumes approaching or surpassing five-year maximums in multiple regions across the US, and imports from Canada likely to rise later this summer, a resurgence of LNG Continue Reading
US commercial crude stocks hit all-time high as GOM production returns
US crude stocks climbed during the week ended June 19 as rising production and weak refinery demand outshined resurgent exports, US Energy Information Administration data showed June 24. Receive daily Continue Reading
US oil, gas sector shows signs of severe contraction in Q2: Dallas Fed
The US oil and gas sector showed evidence of “significant contraction” in the second quarter, with activity deteriorating most severely for oilfield services, the Federal Reserve Bank of Dallas said Continue Reading
US crude exports jumped back over 3 million b/d last week, exports to China remain strong
VLCC rates fall in recent weeks, contango easing US crude exports jumped back over 3 million b/d last week, for the first time in a month as exports to China Continue Reading
US Shale Has a Long Road to Recovery
As oil prices tick up to $40 a barrel following a pandemic-induced plunge, there’s a sense the shale industry is snapping back to life with Continental Resources Inc., EOG Resources Inc. and Continue Reading
Pandemic Rages in the U.S., Spurring Quarantines and Mask Orders
The Covid-19 pandemic is tearing through the U.S. heartland, setting records for hospitalizations and forcing businesses to rethink their plans to reopen as new modeling predicts the virus will kill Continue Reading
U.S. layoffs remain elevated as weak demand persists after businesses reopened
Weak demand is forcing U.S. employers to lay off workers, keeping new applications for unemployment benefits extraordinarily high, even as businesses have reopened, buttressing views the labor market could take Continue Reading
Solar-Power Costs Falling Even Faster Than Expected Due to Virus
The cost of U.S. solar power is dropping faster than expected as the coronavirus stifles demand, according to a report from Wood Mackenzie. Residential-system prices will fall 17% over the next five Continue Reading
Coronavirus Cases Are Accelerating Across U.S.
CDC Director Robert R. Redfield says the coronavirus has ‘brought this nation to its knees’ as the U.S. sees a surge in cases; luxury stores on Fifth Avenue reopen; a Continue Reading
Companies Agonize Over Reopening Timetables as Covid-19 Spreads
In California, where new cases reached new highs Tuesday, workers for Walt Disney Co. DIS -3.88% pressed the company to delay the planned July reopening for its theme parks in Continue Reading
Higher Oil Prices Ease Shale Panic, But Challenges Remain For Texas
The COVID-19 crisis has hit the U.S. shale patch hard Some producers think it will take years to recover while others think they may never recover Many oil producers are Continue Reading
Crude oil futures rangebound in Asia trade as market awaits fresh drivers
Crude oil futures were rangebound in mid-morning trade in Asia June 24 as the market awaits fresh drivers. At 09:43 am Singapore time (0143 GMT), ICE Brent August crude futures Continue Reading
Oil Falls From a Three-Month High Before Key Inventory Report
l slipped from a three-month high before a U.S. government report expected to show another increase in inventories, signaling the market still has its work cut out to clear a Continue Reading
Oil prices mixed as U.S. gasoline stocks shrink, but crude stockpiles grow
Oil futures were mixed on Wednesday as concerns about oversupply in the market, stoked by an rise in U.S. crude inventories, were offset by a drop in gasoline stocks that Continue Reading
Oil, fossil fuel demand may have peaked in 2019 thanks to COVID-19: report
Both crude oil and overall fossil fuel demand may have permanently peaked in 2019 if a slower economic recovery from the coronavirus pandemic becomes reality, hastening the arrival of peak Continue Reading
Iran says it’s ready for talks if U.S. apologises over nuclear pact
Iran would be open to talks with the United States if Washington apologises for exiting a 2015 nuclear deal and compensates Tehran, Iranian President Hassan Rouhani said on Wednesday, cautioning Continue Reading
Are We Nearing Peak Oil Supply?
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-U.S.$20 a barrel in this downturn Continue Reading
Ocean Carrier MOL to Cut Fleet on Shrinking Trade
“As a result of our forecasts we concluded that a significant decline in ocean transport volume and a restrained stance on customers’ investments will be unavoidable in the foreseeable future,” Continue Reading
India Scrambles To Keep Up With Soaring Fuel Demand
India’s refinery capacity utilization picked up in May to an average of 77 percent after the world’s third-largest oil importer started to ease the nationwide lockdown, data from the oil Continue Reading
Coronavirus Races Across Brazil and Latin America, a Warning to Poor Nations
In early May, the new coronavirus swept through the crowded homes in Alley 24 of Rocinha, one of the largest of Brazil’s favelas, or slum communities. Twenty of the 35 Continue Reading
Earthquake Takes Mexico’s Largest Refinery Offline
Mexico’s largest oil refinery, the Salina Cruz refinery, is offline after a fire broke out in the refinery following a 7.4 magnitude earthquake in the area. Pemex, Mexico’s state-run oil Continue Reading
Coronavirus Cases Top 9.1 Million Globally; Second Wave Hits Seoul
Tech companies respond to President Trump’s order to temporarily suspend work visas; MLB plans to restart a shortened 2020 season; Saudi Arabia scales back the most important Muslim pilgrimage. WSJ’s Continue Reading
South Korea data: US crude imports suffer biggest ever on-year drop in May
South Korea’s crude oil imports from the US in May dropped 35.7% from a year earlier, which marks the biggest decline since the country began US crude imports, data released Continue Reading
Port congestion in China set to put brakes on Shandong refineries’ rising crude throughput, run rates
The recent surge in China’s crude procurement activity on the back of low oil prices has led to severe port congestion in Shandong province in recent weeks, causing logistical constraints Continue Reading
CHINA DATA: May gasoline exports fall 20% on year, jet fuel slumps 62% to 5-year low
China’s gasoline exports fell 20% year on year to a 14-month low of 680,000 mt in May, while jet fuel exports plunged 62% over the same period to a five-year Continue Reading
Trump threat to ‘decouple’ U.S. and China hits trade, investment reality
Conflicting talk from Trump administration officials about “decoupling” the U.S. economy from China is running into challenging reality: Chinese imports of U.S. goods are rising, investment by American companies into Continue Reading
Shale Oil Stocks: Investors Question Industry’s Performance
America’s shale revolution grew out of a well-orchestrated dance. For almost a decade, producers wooed investors by touting rosy estimates of how much crude oil they could profitably drill, and Continue Reading
Shale’s Newest Powerhouse, New Mexico, Upended by Oil Shock
As Covid-19 shock waves reverberate across U.S. oil towns, perhaps nowhere is their speed and severity more apparent than in America’s newest shale powerhouse. Just months ago, New Mexico, the third-biggest Continue Reading
As U.S. coronavirus cases surge, Texas, Arizona and Nevada hit new records
For a second consecutive week, Texas, Arizona and Nevada set records in their coronavirus outbreaks, and 10 other states from Florida to California were grappling with a surge in infections. Continue Reading
Virus Surges Across U.S., Throwing Reopenings Into Disarray
Newly diagnosed cases of Covid-19 and other indicators of the pandemic’s spread soared in hot spots across the U.S., driving city and state officials to consider slowing or reversing reopening Continue Reading
U.S. LNG Exports Crash By More Than 50%
Historically low natural gas prices have caused U.S. LNG exports to crash by more than 50 percent since January. The U.S. has now become the world’s swing producer of LNG, Continue Reading
Shale Giant On The Brink Of Bankruptcy Receives Federal Lifeline
The federal government has allowed bankrupt shale major Chesapeake Energy to stop drilling at more than 100 leases on federal lands without losing ownership of the assets, Reuters has reported Continue Reading
The Oil Price Collapse Has Crushed Canada’s Crude Production
More than 1 million barrels per day (bpd) of curtailed crude oil production in Canada and lower demand in the pandemic have resulted in a rare occurrence in Canada’s pipeline Continue Reading
Near-term outlook said to dim for further North American LNG export development
Demand, supply chain and capital budget shocks from the coronavirus pandemic make it unlikely any more North American LNG export projects will secure financing for construction in the next five Continue Reading
Nevada launches “Clean Cars Nevada” effort; adopting California LEV and ZEV
Nevada Governor Steve Sisolak announced the “ Clean Cars Nevada ” initiative, which will evaluate the adoption of new regulations to provide Nevadans with more choices for low and zero Continue Reading
Enbridge Fight With Michigan Over Oil Pipeline Flares Again
Enbridge Inc.’s yearlong battle with Michigan officials over a pipeline that runs through the Great Lakes is flaring up again after damage to a support structure prompted the state to try Continue Reading