House Democrats on Wednesday passed a $1.5 trillion green infrastructure plan that would surge funding to repair the nation’s crumbling roads and bridges while setting aside funds for broadband, schools Continue Reading
German lawmakers have finalized the country’s long-awaited phase-out of coal as an energy source , backing a plan that environmental groups say isn’t ambitious enough and free marketeers criticize as Continue Reading
Wildfires that have raged in the Arctic Circle since early spring led to a record spike in pollution from the infernos last month. Arctic fires emitted 16.3 million metric tons Continue Reading
Alexander Deyev can still taste the smoke from last year’s wildfires that blanketed the towns near his home in southeastern Siberia, and he is dreading their return. “It just felt Continue Reading
Crude oil futures were lower in midmorning trading in Asia July 3, after hitting a four-month high overnight on better-than-expected US labor market data, as concerns over rising COVID-19 cases Continue Reading
Oil closed at its highest level in almost four months before the U.S. holiday weekend, cheered by signs the world’s biggest economy is recovering from coronavirus-related lockdowns, even as fears Continue Reading
Billions of people spent the last few months in a lockdown of some form or another with travel bans or severe restrictions in place. Some warn that this will be Continue Reading
Crude oil prices are unlikely to return to three-digit levels ever again, Citigroup commodity analysts said in a note, as quoted by Bloomberg. The idea of oil at $100 or Continue Reading
Goldman Sachs’ commodity analysts remain guarded about oil’s potential to rise over the near term, but in 2021, prices may start to improve, commodity chief Jeffrey Currie told Bloomberg’s Alix Continue Reading
Analysts at Goldman Sachs expect global oil demand to return to pre-pandemic levels by 2022, citing a pick-up in commuting, a shift to private transportation and higher infrastructure spending. In Continue Reading
Global investment in oil is set to plunge by one-third this year due to the coronavirus and its effect on economies and oil demand, Russia’s Energy Minister Alexander Novak said at an Continue Reading
A global goal to reach net-zero greenhouse gas emissions by 2050 will be out of reach unless governments and the private sector launch a major acceleration in clean energy innovation, Continue Reading
The global refining industry is entering a consolidation phase as slowing oil demand growth is set to coincide with large-scale projects that will start coming online next year, according to Continue Reading
The fossil fuel industry has received plenty of flak over the past decade for its conspicuous role in climate change. The usual script goes something like this: Fossil fuels – Continue Reading
Iran’s financial and military support for Shi’ite proxy paramilitary groups in Iraq, a linchpin of its regional foreign policy, has been dramatically disrupted by the coronavirus pandemic and U.S. sanctions, Continue Reading
A fire ripped through a building at Iran’s main nuclear-fuel production site early Thursday, causing extensive damage to what appeared to be a factory where the country has boasted of Continue Reading
Tribal conflicts in southern Iraq have become more frequent and deadly in recent months, as security forces have been hamstrung by local power structures and distracted by the coronavirus lockdown. Continue Reading
Angola is not too keen to compensate for its loose compliance with the OPEC+ cuts by making deeper production cuts in Q3, Reuters reported on Thursday, citing sources in the Continue Reading
Action delists shippers Adamant, Delos, Romina, Sanibel Greek shippers union vowed to end all Venezuelan trade Venezuelan oil exports to be capped at 300,000 b/d The US Treasury Department on Continue Reading
Federal prosecutors in the United States are looking to seize Iranian gasoline on tankers currently en route to Venezuela by filing a civil-forfeiture complaint, The Wall Street Journal reported on Continue Reading
Chinese independent refineries’ June crude imports edged down 0.5% to 4.4 million b/d, or 18 million mt, in June from the record high of 4.42 million b/d in May as Continue Reading
The U.S. economy created a record 4.8 million jobs in June as more restaurants and bars resumed operations, but layoffs remained elevated and raging COVID-19 cases across the country threaten Continue Reading
The U.S. trade deficit widened in May as the COVID-19 pandemic pushed exports to their lowest level since 2009, strengthening expectations the economy will contract in the second quarter at Continue Reading
Exxon Mobil Corp. incurred an unprecedented second straight quarterly loss as almost every facet of the oil giant’s business slumped amid Covid-19 lockdowns that stunted economic activity. The explorer’s oil and Continue Reading
The U.S. labor market made greater progress than expected last month digging out of a deep hole, yet optimism over the rebound was tempered by stubbornly high layoffs and a resurgent Continue Reading
At first glance, the June employment report was a blockbuster. The U.S. economy produced a record 4.8 million added jobs last month, walloping expectations. And the unemployment rate sank from Continue Reading
U.S. shale is hurting. While the entire global energy industry has been hit hard by the novel coronavirus pandemic and its disastrous effect on oil prices and oil demand, West Continue Reading
Baker Hughes reported on Thursday that the number of oil and gas rigs in the US fell again this week, by 2, to 263, showing the second small loss in Continue Reading
U.S. oil and gas companies are scrambling for credit, with lenders tightening their purse strings as oil prices continue to sit below $40 per barrel. Oil and gas lenders have Continue Reading
Energy Transfer, the company behind the controversial Dakota Access oil pipeline, has declared force majeure on the project to stop companies from pulling out of its plan to double the Continue Reading
Highlights Refinery runs set to fall as refiners pare back runs Margins rise as product glut declines US Midwest and Canada refiners are expected to keep crude runs low even Continue Reading
Lowest exports since September 2016 Year-to-date thermal exports down 26.8% on year US coal exports tumbled to a 3.5-year low 4.28 million mt in May, as metallurgical and bituminous coal Continue Reading
After consecutive weeks of single-digit declines, the US oil and gas rig count may have essentially reached its long-awaited bottom. The US oil and gas rig count fell by six Continue Reading
While oil majors stuck to spending discipline after the 2015-2016 price crash, ExxonMobil was the one to stand out from the crowd as it increased capital expenditures to boost production. Continue Reading
OPEC+ is not discussing or planning changes to its production cut agreement, which should see the oil producers ease the cuts in August, Russia’s Energy Minister Alexander Novak said at Continue Reading
Europe’s most powerful supranational organization, the European Commission has earmarked the energy transition as one of the most important topics for the coming years. The European Green Deal is one Continue Reading
Sales of plug-in hybrids and battery electric cars in the UK inched up to 7 percent of total sales in the first quarter of the year, Reuters’ John Kemp wrote Continue Reading
German Chancellor Angela Merkel stated it is “right” to complete the planned 55 Bcm/year Nord Stream gas pipeline from Russia in light of the threat of new US sanctions against Continue Reading
She still has her dreams: to raise a doctor, an engineer, a military general and an athlete. But as the coronavirus pandemic swept over Russia, bankrupting businesses and families, Yekaterina Gorbunova, Continue Reading
Crude oil futures were rangebound in midmorning trade in Asia July 2 after rising overnight on a draw down of US commercial crude inventories, even as a resurgence of COVID-19 Continue Reading
The oil market continues to tighten, but the surge of coronavirus cases in the U.S. could derail the rally in crude prices. OPEC+ can claim most of the credit for Continue Reading
Crude gained after signals of shrinking stockpiles in the U.S., but fears of the virus crimping demand are holding futures back from rallying past $40 a barrel. The Energy Information Continue Reading
Crude oil inventories in the United States shed 7.2 million barrels in the week to June 26, the Energy Information Administration reported . Analysts had expected an inventory decline of Continue Reading
The huge volumes of oil held at sea have started to shrink and are expected to continue declining into the second half of this year, thanks to recovering demand and Continue Reading
In previous energy downturns, prices slumped but companies kept faith in their oil and gas investments. This time it might be different, as the prospect sinks in that the pandemic’s Continue Reading
Global flight passenger demand, measured in revenue passenger kilometers or RPK’s, contracted 91% on the year in May, after falling 94% in April, the International Air Transport Association said July Continue Reading
The global refining industry is entering a consolidation phase as slowing oil demand growth is set to coincide with large-scale projects that will start coming online next year, according to Continue Reading
Government spending to develop clean energy technologies needs to triple this decade in order to prevent the worst effects of climate change, according to the International Energy Agency. As the rapid Continue Reading
Michael Shellenberger, Time magazine “Hero of the Environment,” apologized on behalf of environmentalists for the climate alarmism they had propagated over the past three decades. Shellenberger, president at Environmental Progress Continue Reading
OPEC’s oil production in June came in at the lowest level since May 1991 during the Gulf War, and collectively meeting its promised cut. For June, OPEC cut its production Continue Reading
