United Nations Secretary-General Antonio Guterres warned the Security Council on Wednesday that the conflict in Libya has entered a new phase with “unprecedented levels” of foreign interference and mercenaries in Continue Reading
Libya’s National Oil Corporation (NOC) is ready to lift the force majeure at the oil port of Es Sider, allowing a tanker to load crude oil from storage, the state Continue Reading
Financial constraints and OPEC cuts led to oil sector layoffs and protests that briefly shut down access to Missan province’s largest field. Workers survey the Halfaya oil field in 2011. Continue Reading
The latest oil price collapse coupled with the considerable economic fallout from the coronavirus pandemic has battered Colombia’s fragile economy. As the strife-torn Latin American country emerged from decades of Continue Reading
Venezuelan consumer prices rose 19.5% in June compared with the prior month, data from the opposition-controlled National Assembly showed on Wednesday, as surging inflation contributes to rising poverty in the Continue Reading
Lithium-ion batteries play a central role in the world of technology, powering everything from smartphones to smart cars, and one of the people who helped commercialize them says he has Continue Reading
Even before the coronavirus pandemic upended all forecasts for global trade and energy demand, analysts had doubted that China would be able to fulfill its pledge in the phase-one trade Continue Reading
VLCC of Forties crude arrives in May for first time in 9 months Q3 North Sea crude, condensate imports may surpass 6 mil barrels Forties-WTI price spread on CFR Asia Continue Reading
The present market insanity reminds me of the similar mentality of Americans right before the 1929 stock market crash and the pre-1999 Tech Bubble. However, the big difference today is Continue Reading
U.S. crude oil refinery inputs averaged 14.3 million barrels per day during the week ending July 3, 2020 which was 315,000 barrels per day more than the previous week’s average. Continue Reading
United Airlines ( UAL.O ) said on Wednesday it was preparing to send notices of potential furloughs to 36,000 U.S.-based frontline employees, or about 45% of staff, as travel demand Continue Reading
Federal Reserve officials raised fresh doubts on Wednesday about the durability of the U.S. recovery, while new business surveys highlighted developing risks from the relentless coronavirus pandemic. In separate appearances, Continue Reading
U.S. consumers reduced their borrowing for a third straight month in May as the millions of jobs lost because of the coronavirus pandemic made households less eager to take on Continue Reading
Here at 12,000 feet on the Continental Divide, only vestiges of the winter snowpack remain, scattered white patches that have yet to melt and feed the upper Colorado River, 50 Continue Reading
In the late 2000s, Big Oil led by Royal Dutch Shell (NYSE: RDS.A), BP Plc. (NYSE: BP), ExxonMobil (NYSE: XOM), and Chevron (NYSE: CVX) hyped algae biofuel as the fuel Continue Reading
Encouraged by higher oil prices, Canadian oil companies are bringing back some of the crude oil production they had curtailed, the top executives of some of the largest firms said Continue Reading
Shell is considering selling its 240,000-barrels-per-day refinery in Convent, Louisiana, as part of a broader strategy to reshape its refining portfolio, the supermajor’s spokesman Curtis Smith told Reuters . Sources Continue Reading
The number of oil and gas drilling permits in Texas fell by a third in June from a year earlier, the state’s oil and gas regulator body said on Tuesday. Continue Reading
A steep decline in US oil exports and a flood of imports pushed crude inventories higher last week, even as refinery inputs and refined product demand edged higher, US Energy Continue Reading
The U.S. OFS job count fell 12.3 percent from February to June of this year, based on BLS data. The tally of oilfield services and equipment (OFS) sector job losses Continue Reading
U.S. gasoline demand recovered to where it was before the pandemic closed much of the country, but it’s still well-below where it usually is in height of the summer driving Continue Reading
U.S. electric vehicle maker Tesla Inc ( TSLA.O ) is “very close” to achieving level 5 autonomous driving technology, Chief Executive Elon Musk said on Thursday, referring to the capability Continue Reading
After the coronavirus was first reported in the U.S. in January, the first million reported cases developed over roughly three months, as testing centered around those who had fallen ill Continue Reading
But it will fill in the gaps, rather than dominating the economy CONVENTIONAL WISDOM holds that battery-powered cars are the future of motoring. But Hyundai, a big South Korean vehicle-maker, Continue Reading
Airbus SE failed to secure any aircraft orders for a third month this year, as the collapse in global air travel battered demand for new jetliners. The European planemaker attracted zero Continue Reading
Russian President Vladimir Putin declared a national state of emergency over 20,000 tons of spilled diesel fuel in Siberia, an action that the government hasn’t taken during the coronavirus pandemic. Continue Reading
The Chinese and Russian leadership have over the years intensified political and economic collaboration. Troubling relations with the West in general and the U.S. in particular are increasingly driving Beijing Continue Reading
A Russian vessel capable of completing the pipelaying for the Gazprom-led Nord Stream 2 natural gas pipeline project left a German port on Wednesday and entered Danish waters where the Continue Reading
A new innovation center in Norway aims to find alternative and cost-efficient solutions aimed at reducing the huge US$100 billion decommissioning cost that the North Sea operators and countries face, Continue Reading
European Steelmakers’ Association Eurofer has welcomed the European Commission’s launch July 8 of its Hydrogen Strategy for a Climate-Neutral Europe as the region’s steelmakers prepare to become significant potential users Continue Reading
The public-private European Clean Hydrogen Alliance launched on July 8 plans to deliver the 6 GW of renewable hydrogen electrolyzer capacity by 2024 target set out in the European Commission’s Continue Reading
Intense wildfires in the Arctic in June released more polluting gases into the Earth’s atmosphere than in any other month in 18 years of data collection, European scientists said in Continue Reading
German exports rebounded less than expected in May as demand remained subdued despite the lifting of lockdown measures introduced to contain the spread of the coronavirus, data published on Thursday Continue Reading
Russia on Thursday reported 6,509 new cases of the novel coronavirus, pushing its official nationwide tally to 707,301, the fourth largest caseload in the world. The national coronavirus taskforce said Continue Reading
The amount of ice in the Alps has shrunk 17% since the turn of the century, highlighting the severity of climate change as countries grapple with how to slow global Continue Reading
Europe’s ambitious hydrogen strategy will be watched closely for clues to where the multi-billion-euro program will put its money for the clean-burning fuel. Hydrogen could meet up-to 24% of the world’s energy Continue Reading
German exports regained some ground in May, though the gain was far short of making up for big losses at the height of the coronavirus pandemic in Europe, official figures Continue Reading
Oil was anchored below $41 a barrel with an industry report signaling a surprise gain in U.S. crude stockpiles, while concerns linger about the threat to demand from rising coronavirus Continue Reading
Crude futures in New York were unable rise above $41 over mounting concerns that a recovery in U.S. gasoline demand is faltering with the coronavirus continuing to spread. Depressed demand Continue Reading
The recovery in oil demand and the less-than-feared demand destruction earlier this year will support oil prices next year when producers will be playing catch up with demand, and Brent Continue Reading
The Energy Information Administration raised its price outlook for Brent crude to $41 per barrel for the second half of 2020—this is $4 per barrel higher than the EIA’s forecast Continue Reading
The American Petroleum Institute (API) estimated on Tuesday a build in crude oil inventories of 2.048 million barrels for the week ending July 3. Analysts had predicted an inventory draw Continue Reading
Leaving behind the waters of the Caribbean Sea, the 1,100-feet long oil tanker Maran Apollo is emblematic of the wider petroleum market. Steaming at 11.5 knots, she’s heading toward China, where Continue Reading
The major integrated oil companies: Shell,(NYSE:RDS.A, RDS.B); ExxonMobil, (NYSE:XOM); BP, (NYSE:BP); Chevron, (NYSE:CVX), and a few others, so named for their vertical stewardship of the hydrocarbon molecule from initial extraction 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
In recent years, purchasing managers indexes have become important indicators of where the global economy might be heading. But in the current slowdown, where small businesses were some of the Continue Reading
Cars aren’t going away any time soon. So the ultimate green move will be combining two emerging technologies: autonomous driving and fully electric cars. Autonomy brings efficiency in driving and battery Continue Reading
June 2020 tied for the planet’s warmest on record, closely matching the anomalously toasty temperatures observed globally during June last year. But one region, in particular, saw heat virtually off Continue Reading
OPEC slashed its crude output in June to a three-decade low, according to an S&P Global Platts survey, as the bloc and its allies, including Russia, continued their campaign to Continue Reading
With a projected budget breakeven oil price of US$69.1 per barrel of Brent this year, according to IMF figures, but accounting for around 96.8 per cent of the UAE’s 98 Continue Reading
