The stockpiles of refined oil products at the oil trading and bunkering hub of Fujairah dropped for a third consecutive week, the longest stretch in a year, dragged by a Continue Reading
After Libya lifted and then declared again force majeure on all its oil exports in the span of just two days, the United States warned that parties in the conflict Continue Reading
Venezuela’s state oil firm PDVSA has resumed gasoline production at the only operating refinery in the country home to the world’s largest oil reserves that is experiencing severe gasoline shortages, Continue Reading
Despite the devastating coronavirus pandemic that locked down China for weeks, the country’s overall crude oil imports during the first half of the year rose 9.9 percent on the first Continue Reading
China has used offers of generous subsidies to amass the world’s largest array of wind and solar power. But there’s a problem: it’s not fully paying them. Renewable energy projects have Continue Reading
Energy traders are paying less for gasoline in America’s biggest fuel market as California imposes a new round of business closures to fight a spike in coronavirus cases.Spot gasoline in Continue Reading
Air travel is full of opportunities for coronavirus transmission. Touchless check-in, plexiglass shields, temperature checks, back-to-front boarding and planes with empty middle seats are all now part of the flying Continue Reading
When the University of Michigan’s chief financial officer asked the school’s Board of Regents in December to authorize a new $50 million oil-and-gas investment, they gave an answer he had Continue Reading
U.S. President Donald Trump claimed to have created and saved the U.S. oil industry. U.S. President Donald Trump claimed to have created and saved the U.S. oil industry in a Continue Reading
U.S. President Donald Trump on Tuesday shut the door on “Phase 2” trade negotiations with China, saying he does not want to talk to Beijing about trade because of the Continue Reading
There’s going to be a lot more flooding in New York this year as climate change causes sea levels to continue to rise. The Battery, at the southern tip of Manhattan, Continue Reading
Parts of the United States saw record levels of high-tide flooding last year as rising seas brought water further into coastal homes and infrastructure, government scientists reported Tuesday. The increase in Continue Reading
You don’t expect to see 75- or even 80-degree water in the Great Lakes in early July or, in most years, anytime. But an exceptionally hot weather pattern has pushed Continue Reading
Researchers are in a race to find the ultimate energy storage solution, considering the rise of renewable energy generation and electric vehicle (EV) sales around the world. Some scientists are Continue Reading
Gazprom has reported its first quarterly loss in more than four years as the coronavirus pandemic slashes gas demand and prices. A 30 percent fall in the value of the rouble Continue Reading
It all started when leading European politicians, towering amongst them the German chancellor Angela Merkel, openly criticized the extraterritorial nature of U.S. sanctions against Nord Stream 2, stating that the Continue Reading
Italian major Eni plans to exit traditional refining activities within the next decade as it is focused on bio-refineries and accelerating its transition to low-carbon energy, chief executive Claudio Descalzi Continue Reading
The value of Russian gold exports has exceeded the country’s proceeds from natural gas exports for the first time in Russia’s modern history, due to low demand and prices for Continue Reading
London — Russian refineries are keeping output low despite the end of spring turnarounds, as crude availability becomes tight as a result of cuts agreed by OPEC and its allies, Continue Reading
Perched between Norway’s two longest fjords, Bergen might appear an unlikely place to glimpse the possible future of transport. But close to one in five cars in Norway’s second city Continue Reading
Crude oil futures fell sharply in mid-morning trade in Asia July 14 as rising COVID-19 cases and renewed lockdowns softened demand outlook, while expectations of tapering production cuts from OPEC+ Continue Reading
Oil slipped for a second day on signs of a slower emergence from lockdown in some corners of the globe. Futures fell by as much as 2.6% in New York. Continue Reading
Oil retreated before an OPEC+ committee meeting this week that may confirm the group’s intention to taper production cuts even as the coronavirus surges in many countries including the U.S. Continue Reading
Crude oil futures were lower in mid-morning trade in Asia July 13 ahead of mid-week deliberations by OPEC+ over whether to maintain its current supply cut for another month, and Continue Reading
BP was first. The supermajor said last month that it could book asset writedowns of up to $17.5 billion as a result of the industry crisis. Then it was Shell. Continue Reading
Even by the standards of Antarctica, there are few places as remote and hostile as Thwaites Glacier. More than 1,000 miles from the nearest research base, battered by storms that Continue Reading
In retrospect, it’s impressive that it lasted as long as it did. Four months after OPEC cobbled together a record production cut to offset the demand destruction unleashed by the Continue Reading
The oil price plunge and the production cuts after the coronavirus pandemic will hit oil exporters in the Middle East and North Africa (MENA) hard, with the combined oil income Continue Reading
OPEC’s 13 members suffered an 18.4% contraction in their oil export revenue in 2019 on slumping prices, the organization’s Annual Statistical Bulletin showed July 13, denting their economies leading into Continue Reading
OPEC+ will hold a committee meeting this week to assess the status of the oil market and decide on its next steps. For now, the group appears ready to begin Continue Reading
Saudi Oil Minister Prince Abdulaziz bin Salman likes the idea of OPEC+ acting as the central bank of oil. And he expresses admiration for Alan Greenspan, former chairman of the Continue Reading
Saudi Arabia is set to keep its crude oil exports in August at the levels from July, although the OPEC+ group is expected to ease the record production cuts as Continue Reading
Just two days after it lifted the force majeure on all oil exports, Libya’s National Oil Corporation has declared force majeure again, citing a renewed blockade on its oil export Continue Reading
Libya’s National Oil Corp. declared force majeure on all crude exports on July 12, a day after the Libyan National Army re-instated an oil blockade as the civil war continues Continue Reading
The autocratic regimes in Beijing and Tehran are feeling the heat from Washington. The former is locked in a bitter, damaging trade war with the United States; the latter has seen its country’s Continue Reading
Iraq has pledged to reach 100% compliance with its OPEC+ quota in August and make up for overproduction in May and June, as OPEC’s second-largest producer continues to improve its Continue Reading
Forces loyal to a Libyan commander said they will only allow the reopening of oil fields and terminals once a mechanism has been set up to fairly distribute revenue across Continue Reading
Saudi Arabia commended Iraq for implementing almost all its pledged oil-production cuts and Nigeria told the kingdom it was committed to hitting its target, in further signs that disputes among Continue Reading
African Union-brokered talks ended without an agreement on a disputed dam project on the Nile River’s main tributary, potentially ratcheting up tensions between two key U.S. allies on the continent. The Continue Reading
The United States has been raising its imports of fuel oil from Russia over the past year and a half after the U.S. imposed sanctions on Venezuela’s exports, Reuters reported Continue Reading
The United States is pressing shippers, insurers, certification organizations, and flag states registering vessels not to work with Venezuela as the Trump Administration is looking to cut off Nicolas Maduro’s Continue Reading
Venezuela’s state-owned PDVSA and US-based Chevron restarted production of extra-heavy crude in the Orinoco Belt at their Petropiar joint venture, which is operating at 72,000 b/d or 38% of capacity, Continue Reading
This summer, torrential rains have caused severe floods in China, killing more than 100 people, forcing 1.7 million to relocate and racking up more than 61.8 billion yuan ($8.8 billion) Continue Reading
China, the world’s biggest solar market, plans to subsidize 434 photovoltaic power projects with a combined capacity of almost 26 gigawatts of this year. Shares of solar equipment manufacturers gained as the announcement Continue Reading
As China counts the costs of its most punishing flood season in more than three decades, the role played by the massive and controversial Three Gorges Dam – designed to Continue Reading
China’s trade improved in June in a fresh sign the world’s second-largest economy is recovering from the coronavirus pandemic. But its exporters face threats including tension with Washington and a Continue Reading
China’s crude oil imports surged 34.4% year on year to all-time high of 12.99 million b/d or 53.18 million mt in June as Chinese buyers who rushed into the market Continue Reading
California Governor Gavin Newsom on Monday ordered a massive retrenchment of the state’s reopening on Monday, shutting bars and banning indoor restaurant dining statewide and closing churches, gyms and hair Continue Reading
The top U.S. shale gas producers have seen their stock prices decimated from their highs reached in 2014. What’s even worse is that the horrible stock performance occurs even with Continue Reading
An intense and expanding heatwave is baking the South and Southwest, pushing the mercury to record-challenging levels in areas notorious for their searing summer temperatures. The stifling heat is creating Continue Reading
