A satellite shows the dust plume over the Caribbean and a second one emerging off the coast of Africa on Tuesday. (NOAA) Conditions associated with the Madden-Julian Oscillation are currently Continue Reading
In the 15 years since the first U.S. shale boom, the industry as a whole has failed to return a profit. Deloitte estimates that the coming wave of write-downs could Continue Reading
LNG feedgas demand drops to year-to-date low Southeast production rises following Cristobal US natural gas inventories likely increased by approximately 50% more than the five-year average last week as gas-fired Continue Reading
Freeport LNG has delayed its target for making a final investment decision on whether to build fourth liquefaction at its Texas export facility until at least next year, amid market Continue Reading
The pick up in euro-area economic activity after the lifting of lockdowns in June is doing little to change the picture of a long, slow recovery and rising unemployment. The Continue Reading
Russian citizens are set to begin voting on constitutional changes that could allow President Vladimir Putin to remain in office for years to come, potentially cementing his hold on power Continue Reading
The UK auto industry has called for a dedicated restart package to help protect jobs, citing a survey showing that up to one in six jobs in the sector are Continue Reading
The European Commission plans to develop a benchmark for euro-denominated hydrogen trades by 2021, according to an unofficial draft of its EU hydrogen strategy expected on July 8. Receive daily Continue Reading
Russia on Wednesday reported 7,176 new cases of the novel coronavirus, pushing its nationwide case total to 606,881, the world’s third-highest tally. The country’s coronavirus crisis response centre said 154 Continue Reading
As Europe prepares a multi-billion-dollar blitz to cut greenhouse gas emissions, a race is on to cash in on the green transformation of its most-polluting member. Poland, which currently relies Continue Reading
Russia is offering Mohammed bin Salman a slew of beneficial deals in order to lure Saudi Arabia away from the U.S. and into Putin’s sphere of influence. Saudi Arabia is Continue Reading
Crude oil futures were steady to marginally lower in mid-morning trade in Asia June 23 following an overnight rally, as demand uncertainty continues amid concerns of a second wave of Continue Reading
Oil prices were volatile on Tuesday after markets were spooked by surprise comments from White House trade adviser Peter Navarro saying a hard-won U.S-China trade deal was “over”, though he Continue Reading
Crude futures edged higher June 22 as the market weighed a tightening global supply picture against uncertain demand outlooks amid a spike in COVID-19 cases around the world. NYMEX July Continue Reading
There is plenty of bullish sentiment in oil markets despite fears of a second wave of COVID-19 cases and under compliance from some OPEC+ members. The second half of 2020 Continue Reading
Bank of America has increased its average WTI crude price forecast by $7.70, adding to a trend of increasingly bullish forecasts. The forecast was altered due to stronger-than-expected demand recovery, Continue Reading
Oil prices are set to fluctuate around the $40 mark for the foreseeable future as there is too much downside risk for them to move much higher All eyes should Continue Reading
The global COVID-19 pandemic has had a significant role to play in Big Oil’s shift towards cleaner energy. Three of the world’s biggest oil and gas companies are planning to Continue Reading
Russia’s Energy Minister believes crude oil demand could fully recover to pre-COVID levels by 2021 This statement came after the head of Russia’s sovereign wealth fund said there was no Continue Reading
As the world emerges from the economic wastelands of the coronavirus pandemic, hopes are growing that climate-friendly policies and behavior changes will speed the transition away from fossil fuels. But Continue Reading
The coronavirus pandemic has stalled factories and shut down business around the world, causing a historic drop in oil demand just as production was reaching new highs. WSJ explains the Continue Reading
The world’s top oil exporter, Saudi Arabia, is creating a tourism development fund with an initial investment of US$4 billion as part of efforts to diversify away from oil and Continue Reading
Iraq expects higher crude revenues in July and is currently selling its oil at around $34-$35/b, the al-Mirbad news organization quoted the oil minister as saying on June 22. Iraq Continue Reading
Saudi Arabia said on Monday it will bar arrivals from abroad to attend the haj this year due to the coronavirus, allowing only a limited number of Saudi citizens and Continue Reading
Turkey scored a significant geopolitical win when the GNA successfully pushed Haftar out of Tripoli in early June. Now, the battle for Libya’s oil is focusing on Sirte, with Egypt Continue Reading
Saudi Arabia came under a missile and drone attack from Iran-backed Yemen rebels that targeted the capital, Riyadh, and other cities, state-run Saudi Press Agency reported. Saudi air defenses intercepted Continue Reading
In 2017, Nicolas Maduro’s regime sought help from the then-Republican Congressman from Texas, Pete Sessions, to arrange a meeting between Venezuela’s state oil firm PDVSA and the head of ExxonMobil Continue Reading
Public officials in the west and south of the US have stepped up their warnings about coronavirus in the wake of states in those regions reporting record one-day increases in Continue Reading
Researchers from the Korea Advanced Institute of Science and Technology say that they have developed a new strategy to address the limitations of the lithium-oxygen battery. Lithium-oxygen batteries are capable Continue Reading
China has made life a little easier for car manufacturers who make gasoline-electric hybrids by reclassifying these hybrid vehicles more favorably with regard to its clean car policies. Reuters reports Continue Reading
President Donald Trump is tweeting that an initial trade agreement with China is still on after a top White House adviser’s comments seemed to suggest it was over, spooking markets Continue Reading
The low oil prices and the economic slowdown from the COVID-19 pandemic have hit the finances of Chinese companies hard. Another Chinese oil firm has defaulted on a dollar-denominated bond. Continue Reading
China looks to raise its crude oil production by 1 percent to 3.85 million barrels per day (bpd) and natural gas output by 4.3 percent this year, the National Energy Continue Reading
The immense potential that China’s commercial transport sector offers for hydrogen has prompted some companies in Asia’s top energy consumer to tap the expertise of leading automakers, such as Toyota Continue Reading
Fund managers with more than US$2.2 trillion in combined managed assets have urged companies with exposure to fossil fuels to take note of BP’s colossal asset write-down and properly account Continue Reading
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 Continue Reading
US shale companies could be forced to write down $3oobn of their assets this year, starting in the second quarter, as operators begin to account for the oil price collapse Continue Reading
ESG investing isn’t just a fad anymore–it’s minting millionaires and billionaires. From Jeff Bezos’ $10-billion commitment to a Global Earth Fund to BlackRock, we’re now seeing major ESG assets under Continue Reading
Carnival Cruise Line said on Monday it has extended its pause in operations for North American voyages until Sept. 30, as it determines how to safely resume service amid the Continue Reading
Kneeling in prayer for a sin he doesn’t regret, Shakespeare’s Claudius, Hamlet’s fratricidal uncle, ruefully admits: “My words fly up, my thoughts remain below, / Words without thoughts never to Continue Reading
A majority in the Danish parliament has signed an ambitious climate agreement seeking to reduce greenhouse gas emission by 70% by 2030 on a 1990 baseline, the Ministry of Climate Continue Reading
Construction of the 55 Bcm/year Nord Stream 2 gas pipeline from Russia to Germany is still set to be completed at the end of 2020 or the start of 2021, Continue Reading
Oil held near $42 a barrel in London as investors weighed signs of rebounding demand against a resurgence in new coronavirus cases. A rise in coronavirus cases in Germany and the recent jump Continue Reading
Oil prices were steady on Monday, supported by tighter supplies from major producers but held in check by concerns over a record rise in coronavirus infections worldwide that could stall Continue Reading
Odds of a V-shaped recovery in oil demand are shrinking. Demand for jet fuel will continue to drag on global oil demand for at least another two years. Permanent changes Continue Reading
The coronavirus will push debt levels in the world’s richest nations up by almost 20 percentage points on average this year, credit rating agency Moody’s said on Monday, almost double Continue Reading
Every day, traders in London congregate at 4 p.m. to buy and sell North Sea oil for half an hour. The window, as it’s known in the industry, is where Continue Reading
Oil producing nations with a high average fiscal break-even, but also oil traders have been caught off guard by the plunge in oil prices this Spring. Oil nations are forced Continue Reading
Work to lay the main pipeline to link UK-based Energean’s Karish and Tanin gas fields to the Israeli shore is now complete, the company said June 22. Receive daily email Continue Reading
Egypt’s leader Abdel Fattah al-Sisi has threatened to intervene militarily in neighbouring Libya if Turkish-backed forces capture Sirte, a strategic port and gateway to important oil terminals. The warning adds Continue Reading
