China auto sales off 22.4% in first half of 2020
China’s auto sales rose 1.8% in June over a year earlier but fell by double digits for the first half of 2020 after the country shut down to fight the Continue Reading
Supreme Court ruling on Oklahoma tribal land raises questions for oil industry
A U.S. Supreme Court decision recognizing about half of Oklahoma as Native American reservation land has implications for oil and gas development in the state, raising complex regulatory and tax Continue Reading
Biofuel Revolution Was Doomed by Policy and Investment Failures
The mood was celebratory on a humid June evening in 2011 as a red-and-white Gulfstream G450 belonging to Honeywell International Inc. took off from a New Jersey airport at sunset Continue Reading
Reeling from the loss of gas tax revenue during pandemic, states are deferring billions of dollars of transportation projects
Leaders of state transportation departments across the nation say the coronavirus pandemic has left them facing an estimated $50 billion shortfall in funding needed to repave rutted and pockmarked roads, maintain Continue Reading
U.S. Rig Count Falls For 18th Week In A Row
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 5, to 258, marking the eighteenth loss in the Continue Reading
U.S. Natural Gas Production, Consumption And Exports Hit Record In 2019
The United States produced, consumed, and exported record volumes of natural gas last year, following years of rising output due to fracking and horizontal drilling, the Energy Information Administration (EIA) Continue Reading
An Ugly Week For U.S. Shale
This week was an ugly one for American shale: Several pipeline projects–both those existing and in the works–took severe hits that will have a profound effect on the shale industry Continue Reading
Shell Idles Unit At Texas Refinery Due To Demand Crash
Shell is idling a unit at the Deer Park, Texas, refinery for several months due to low demand for fuels, sources familiar with the refinery’s operations told Reuters . The Continue Reading
Prices rebound on summer heat, increased load as reopening continues
Western wholesale power prices in June jumped on average 26% month on month as demand increased with the continued reopening of businesses and with warmer weather moving into the region. Continue Reading
US June auto sales plunge over 25% on year, July outlook uncertain: consultants
US auto sales fell over 25% on the year in June, with July buying activity still facing uncertainty due to market disruptions caused by the coronavirus pandemic, according to industry Continue Reading
Baker Hughes Shows Mixed Rig Counts
The number of rotary rigs operating in the U.S. decreased over the past week but increased in Canada, Baker Hughes Co. reported Friday. The number of rotary rigs operating in Continue Reading
Texas Refiners Contend with Virus Rebound
Oil refineries aren’t being spared as Covid-19 sweeps through Texas, which is setting records for new infections and hospitalizations in the U.S. almost daily. The second-biggest U.S. refinery, Marathon Petroleum Continue Reading
This Is What It Looks Like When a Texas Oil Boom Busts
When an oil bust takes hold in West Texas, no one is spared: Drilling rigs collect dust, barber chairs sit empty, students drop out of school and lines swell at Continue Reading
Gazprom’s Hold On European Gas Market Slips
The record stockpile of natural gas in northwest Europe and Italy is eating into the regions’ thirst for Gazprom’s product, according to Reuters, and the Russian gas giant has lost Continue Reading
Most EU gas grids not allowed to carry hydrogen yet: regulators
Most EU natural gas grids are not set up yet to allow hydrogen to be injected, according to a survey of transmission system operators by 23 EU national regulators. Not Continue Reading
Europe’s driving rebound holds course but yet to catch year-ago levels
European driving activity continues to rebound from lockdown lows of April but road fuel demand may yet to have reached seasonal year-ago levels, according to the latest demand and mobility Continue Reading
Denmark yet to receive updated Nord Stream 2 work plan on completing gas link
Denmark has not yet received an updated plan from the developer of the Nord Stream 2 gas pipeline from Russia to Germany on the schedule for laying the remaining kilometers Continue Reading
Oil Heading for Weekly Drop With Virus Surge Clouding Outlook
Oil fell as the International Energy Agency said a jump in Covid-19 cases could derail the market recovery, while Libya signaled the potential restart of crude exports. Futures slipped below $39 Continue Reading
Oil declines as U.S. virus cases hit record, heading for weekly fall
Oil prices fell on Friday, adding to steep losses from the previous session, and were headed for weekly declines on worries that renewed lockdowns following a surge in coronavirus cases Continue Reading
Oil Prices Fall As US Layoffs Loom
Oil tumbled to the lowest level in more than a week as a resurgence in coronavirus cases and impending U.S. layoffs darken the economic outlook. Futures in New York slid Continue Reading
IEA raises 2020 oil demand forecast but warns COVID-19 clouds outlook
The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday but warned that the spread of COVID-19 posed a risk to the outlook. The Paris-based IEA Continue Reading
IEA Global Oil-Demand Forecast: Coronavirus Risk for OPEC+
The International Energy Agency bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the Continue Reading
Coronavirus’s Worst Impact on Oil Demand Has Passed, IEA Says
The International Energy Agency bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the Continue Reading
A New World Order for the Coronavirus Era Is Emerging
In July 1945, at the close of World War II, the leaders of the U.S., Great Britain and the Soviet Union gathered at a Prussian royal palace in Potsdam outside Continue Reading
Natural Gas Is the Past. Natural Gas Is Also the Future.
On Sunday, Virginia-based utility Dominion Energy Inc announced plans to sell almost all of its natural gas pipeline and storage assets to Warren Buffett’s Berkshire Hathaway Inc for $4 billion. At Continue Reading
Covid-19 Crisis Puts Further Pressure on Big Jets
As the coronavirus pandemic rocks the aviation industry, two industry giants are fighting to protect their legacies. WSJ’s Jaden Urbi explains what Boeing and Airbus are doing to survive this Continue Reading
Crude Oil Shortages Beginning To Bite In Key Markets
Last month , OPEC and its non-OPEC allies, known as OPEC+, agreed to extend their deep production cuts through July in an effort to rebalance oversupplied markets in the face Continue Reading
CICERO team finds global temperature will respond slowly to emissions cuts
Although large emissions cuts are urgently needed to achieve global climate goals, it may take decades before we can measure the effect of the reductions on global temperature evolution, according Continue Reading
Green News: Hydrogen Made by Solar Backed as Green Industry Fuel
As the European Union launches a new push to make hydrogen one of the clean fuels of the future, two French industrial giants say they’ve found the right project to Continue Reading
Iran’s Oil Storage Ready To Burst
The amount of oil that Iran currently has in storage may have come off its May peak, according to industry sources, but it is still forcing the oil producer to Continue Reading
Major Explosion Rocks Iran Again, the 3rd Blast in 3 Weeks
An explosion rocked western Tehran early Friday, state media reported, causing widespread power failures in two residential areas and unnerving Iranians awakened for the third consecutive week by an early-morning Continue Reading
Fuel Glut Forces Chinese Refiners To Cut Oil Processing Rates
Higher oil prices and a fuel glut in Asia are depressing refining margins, likely forcing China’s independent refiners to scale down crude oil processing rates in the third quarter, traders Continue Reading
China Vows Retaliation After U.S. Sanctions Politburo Member
China pledged to retaliate after the U.S. sanctioned a top member of China’s ruling Communist Party and three other officials over human rights abuses in the far western region of Continue Reading
Can India Really Shut Down Oil Supply To China?
Threats to oil shipping routes are nothing new to the oil market. It has endured Iran seizing tankers in the Strait of Hormuz , and it has endured Iran’s repeated Continue Reading
Coronavirus records in Florida, Texas and California erode hopes of economic revival
Record-breaking coronavirus cases and deaths in several U.S. states are dimming hopes of economic recovery, with cellphone data showing shoppers are staying away from stores in areas where cases are Continue Reading
Weekly jobless claims near four-month low; millions drawing unemployment benefits
The number of Americans filing for jobless benefits dropped to a near four-month low last week, but a record 32.9 million people were collecting unemployment checks in the third week Continue Reading
US economy may be stalling out as viral outbreak worsens
The U.S. economy is stumbling as the viral outbreak intensifies, threatening to slow hiring and deepening the uncertainty for employees, consumers and companies across the country. Coronavirus case counts are Continue Reading
More Curtailed US Oil Production Coming Back Online
Houston-based Noble Energy plans to bring back by the end of July most of the oil production it had curtailed in the second quarter in response to the plunge in Continue Reading
North American Oil And Gas Companies Continue To Go Bankrupt At $40 Oil
The rash of oil and gas bankruptcies in North America is set to continue for the remainder of 2020, a report by Haynes and Boone cited by Reuters shows. After Continue Reading
Demand Crash Led To Biggest Monthly Surge in US Oil Inventories Since 1920
The oil demand crash in April, when most of America was under stay-at-home orders, resulted in the biggest monthly inventory jump in U.S. commercial crude oil inventories in data going Continue Reading
US working natural gas volume in underground storage rises by 56 Bcf: EIA
US natural gas in storage rose 56 Bcf in the week ended July 3, according to Energy Information Administration data released July 9, as electric generation boosted demand and the Continue Reading
US oil, gas rig counts fall by 6 to 279 on week, Permian loses more: Enverus
The US oil and natural gas rig count dropped by six rigs on the week to 279, rig data provider Enverus said, as domestic plays continued largely stabilizing without yet Continue Reading
Gas-fired power burn to test prior record by mid-July on low prices, summer heat
Gas demand from US power generators continues to outperform this month as historically low prices for the fuel combine with scorching temperatures to push burns toward prior record highs set Continue Reading
Oil Anchored Near $41 With Gains Capped by Rising Stockpiles
Oil traded below $41 a barrel in New York as coronavirus cases continued to surge across the world and U.S. crude stockpiles grew. Nationwide inventories rose last week, with supplies at Continue Reading
Oil Falls After EIA Confirms Large Crude Inventory Build
Crude oil inventories in the United States swelled by 5.7 million barrels in the week to July 3, the Energy Information Administration reported , but gasoline inventories drew down. Analysts Continue Reading
Oil Market Recovery Threatened By Weaker Fuel Demand
Gasoline demand appears to be weakening in some parts of the United States, as the coronavirus continues to spread. The states hardest hit by the surging number of infections are Continue Reading
Global GDP Could Fall 20% as Climate Change Heats up
Hotter temperatures by 2100 could slash global GDP by more than 20%, according to new research, and the way the economic impact will be distributed threatens to turn climate change Continue Reading
A Problematic Future Lies Ahead for Gas Pipelines: Green Insight
It was a tough week for the North American fossil fuel industry. Over just a few days, the Atlantic Coast natural gas pipeline was canceled by developers, the Dakota Access Continue Reading
Big Oil Should Focus On The World’s Cleanest Energy Source
Big Oil majors have been scrambling to make the most ambitious climate commitments in the industry, planning a pivot to clean energy, talking about net-zero emission bills, solar, and wind. Continue Reading
Infographic: Middle East grapples with historic oil output cuts
The Middle East has taken center stage in the OPEC+ agreement to cut 9.6 million b/d through July, with Saudi Arabia leading the way and Iraq being put to the Continue Reading