President Donald Trump said on Wednesday the United States would not close businesses again as several states reported rising numbers of new coronavirus infections. “We won’t be closing the country Continue Reading
The rebalancing of the oil market has been possible, in part, due to the sharp cutbacks in U.S. shale production. But what happens next for the industry? The latest data Continue Reading
The $150-billion organic food industry has a major fertilizer problem that could hinder its growth. Massive livestock operations from Europe to North America have an even bigger problem: They’re producing Continue Reading
Gas-fired power generation to support cooling demand is hitting record pre-summer highs this season, fueled by low gas prices and sweltering temperatures in a trend that appears likely to accelerate Continue Reading
U.S. crude oil refinery inputs averaged 13.6 million barrels per day during the week ending June 12, 2020 which was 116,000 barrels per day more than the previous week’s average. Continue Reading
If the carnage that took place in the U.S. shale oil patch during the first quarter of 2020 is any indication of the financial health of the industry, just wait Continue Reading
BP, the British oil company, announced this week it would reduce the value of its oil and gas assets by $17.5 billion. Even though this represents a large potential asset Continue Reading
Global growth in primary energy consumption slowed down to 1.3 percent last year from 2.8 percent demand growth in 2018, with renewables a major growth driver in 2019, BP said Continue Reading
Industrial output in Russia fell last month, largely as a result of the crude oil production cuts that Russian oil companies had to implement following the April agreement by OPEC+ Continue Reading
The leader of the non-OPEC group of the OPEC+ pact, Russia, is showing an unprecedented commitment to the ongoing record collective production cuts by almost complying with its share of Continue Reading
Crude oil futures were trading lower in mid-morning trade in Asia June 17, after settling higher overnight, as reports of fresh COVID-19 outbreaks continued to weigh on hopes of economic Continue Reading
Oil rose on Wednesday on hopes for economic recovery and for a clinical trial showing a cheap steroid could help save some critically ill coronavirus patients but fears of a Continue Reading
Beijing closes schools, raises COVID-19 emergency response IEA projects global crude demand to rise by 5.7 million b/d in 2021 US retail sales jumped 17.7% in May from the previous Continue Reading
The American Petroleum Institute (API) estimated on Tuesday another build in crude oil inventories, this time of 3.857 million barrels for the week ending June 12. Analysts had predicted a Continue Reading
Oil demand may not recover to pre-pandemic levels until 2022 at the earliest, according to a new report from the International Energy Agency (IEA). The surplus of crude oil sloshing Continue Reading
Spending on renewable power is set to overtake oil and gas drilling for the first time next year as clean energy affords a $16 trillion investment opportunity through 2030, according Continue Reading
Merchant ship crew members stranded at sea for months due to coronavirus-related travel restrictions could now start refusing to further extend their contracts and stop working, potentially disrupting global trade, Continue Reading
Shipping lines that move the vast majority of the world’s manufactured goods have canceled more than a quarter of all sailings on Asia-to-Europe and trans-Pacific lanes, the world’s biggest trade Continue Reading
U.S. oil and gas supermajors have come under plenty of flak during the ongoing oil price rout, with some blaming them for the oil price collapse for stubbornly refusing to Continue Reading
Last week brought the first issue of Bloomberg Green, an attempt by the team behind this newsletter to create a magazine focused entirely on climate change. While making this publication, however, it Continue Reading
Qatar’s recent decision to go ahead with bold plans for the North Dome , its supergiant non-associated gas reservoir, together with corollary deals to secure massive new liquefied natural gas Continue Reading
The ongoing record production cuts from the OPEC+ group are set to push oil prices up to ‘normal’ levels soon, Suhail Al Mazrouei, energy minister of the United Arab Emirates Continue Reading
OPEC’s second-largest producer, Iraq, which is also the least compliant member of OPEC+, has made significant cuts in its crude oil exports so far in June, in a move suggesting Continue Reading
Iraq’s state-run North Oil Company (NOC) has fallen two months behind in paying hundreds of local residents contracted to guard oil wells in the Kirkuk area, potentially compounding the threats Continue Reading
After flooding the U.S. with crude earlier this year, Saudi Arabia has all but cut off the taps to the American oil market. The kingdom has exported just one cargo to Continue Reading
The world’s third-largest crude oil importer, India, plans to double its refining capacity by 2030 from the current 5 million barrels per day (bpd), Oil Minister Dharmendra Pradhan said at Continue Reading
Exxon has reduced its crude oil production at the Liza offshore field in Guyana due to the risk of excessive flaring, according to the South American country’s regulator, as quoted Continue Reading
Authorities in Beijing have described new outbreaks in the Chinese capital as “very severe” and warned residents not to travel outside the city unless absolutely necessary. In a press conference reported Continue Reading
Scores of flights to and from Beijing were cancelled, schools shut and some neighbourhoods blocked off as officials ramped up efforts to contain a coronavirus outbreak that has fanned fears Continue Reading
Beijing cannot rule out the possibility that the number of COVID-19 cases in the city will stay at current levels for some time, a city official said on Wednesday. Pang Continue Reading
China’s meat importers fear clearing delays and a hit to demand after one of the country’s major ports began requiring coronavirus tests for all meat and seafood containers to prevent Continue Reading
Retail sales rebounded sharply in May as thousands of stores and restaurants reopened after lockdowns were lifted and federal stimulus checks and tax refunds fueled a burst of spending, a Continue Reading
Passengers wear face masks as they fly with United. (Courtesy of United Airlines) A in May by American Airlines customer Tony Scott was shared more than 6,700 times after he Continue Reading
A total of 80 utility-scale solar power generating companies sold 10.6 million MWh of wholesale power in the first quarter of 2020, an increase of 21% compared with Q1 2019, Continue Reading
Texas will look into policies to “drastically reduce” natural gas flaring from the state’s shale patch as investors become increasingly sensitive to climate change concerns. The call to action from Continue Reading
New coronavirus infections hit record highs in six U.S. states on Tuesday, marking a rising tide of cases for a second consecutive week as most states moved forward with reopening Continue Reading
The Trump administration is preparing an up to $1 trillion infrastructure package focused on transportation projects as part of its push to spur the world’s largest economy back to life, Continue Reading
“And like in the current crisis, liquidity is king,” Phillips 66 chairman and chief executive Greg Garland said on the company’s Q1 conference call in early May. Like the upstream, Continue Reading
The U.S.’s Great Plains and desert Southwest have sweeping winds, abundant sunshine, and, crucially, not many people. Low population means lots of unoccupied land and very few buildings to block Continue Reading
U.S. industrial production rose by less than forecast in May after a record slump a month earlier, indicating a gradual recovery for manufacturing as coronavirus-related shutdowns continued to restrain demand. Output Continue Reading
In May 2012, Hanson and Michael Rowe noticed an overpowering smell, like rotten eggs, seeping from an abandoned gas well on their land in Kentucky. The fumes made the retired Continue Reading
Sweden has made less progress than expected in achieving immunity to the coronavirus, according to its state epidemiologist. After leaving schools, shops and restaurants open throughout the pandemic, contagion rates Continue Reading
Chancellor Angela Merkel’s cabinet signed off on plans to raise another 62.5 billion euros ($70 billion) in debt to finance the country’s largest stimulus program in recent history. The proposal has Continue Reading
Highlights Nord Stream 2 applies to use anchored ships to finish line Anchored ships not part of Danish permit from October 2019 Threat of more US sanctions against 55 Bcm/year Continue Reading
Crude oil futures were marginally lower in mid-morning trade in Asia June 16 amid persistent concerns over demand recovery. Receive daily email alerts, subscriber notes & personalize your experience. Register Continue Reading
Oil hovered near $38 a barrel as investors weighed the International Energy Agency’s projection that consumption won’t fully recover until at least 2022 against economic stimulus in the U.S. and Continue Reading
In its annual report World Energy Investment 2020 , published late last month, the International Energy Agency describes ‘drastically altered’ energy markets in the wake of the Covid-19 Pandemic. It Continue Reading
Global oil demand will rebound next year as the world emerges from the coronavirus pandemic, but recovering to pre-crisis levels may take a couple of years, the International Energy Agency Continue Reading
The coronavirus pandemic will hammer global growth and oil demand this year, but supply cuts from producers and a record rebound in demand next year will help to rebalance the Continue Reading
The oil price rally may have come to an end, with the long-feared “second wave” of coronavirus infections having now arrived, posing renewed threats to the global economy. A new Continue Reading
