Why Iran And China Are Pushing Iraq To Boost Oil Production
There are four key reasons why Iraq is increasing the pace of development on a number of its major oil fields right now. First, it needs the money; second, hitting Continue Reading
Baghdad, Iraq, hits 125 degrees, shattering all-time record
Record high temperatures have been plaguing the Middle East, the mercury soaring to extreme levels during a blistering and unforgiving heatwave. Baghdad surged to its highest temperature ever recorded Tuesday. Continue Reading
Over half of Mumbai slum dwellers have had Covid-19, study claims
More than half of residents in several of Mumbai’s slums may have been infected with coronavirus, a study has found, suggesting that the spread of Covid-19 in India could be Continue Reading
Could Rising US-China Tensions Change Global Energy Markets?
The widening rift between the world’s two largest economies – the United States and China – has had analysts and market observers using the phrase ‘Cold War’ to describe how Continue Reading
China needs ‘explosive’ buying to meet U.S. farm import target
With nearly seven months gone, an ambitious $36.5 billion target for Chinese imports of U.S. farm goods this year may not be quite out of reach, but it’s looking like Continue Reading
Coronavirus surges in Asia bring warnings over complacency
Spikes in novel coronavirus infections in Asia have dispelled any notion the region may be over the worst, with Australia and India reporting record daily infections on Thursday, Vietnam fretting Continue Reading
The Chinese Communist Party Is an Environmental Catastrophe
As China struggles to recover economically from the impact of the pandemic, it is set to deal a painful blow to global efforts to fight climate change. The party has Continue Reading
Summary of Weekly Petroleum Data for the week ending July 24, 2020
U.S. crude oil refinery inputs averaged 14.6 million barrels per day during the week ending July 24, 2020 which was 389,000 barrels per day more than the previous week’s average. Continue Reading
As Covid-19 Surges, California Farmworkers Are Paying a High Price
Farm laborers harvest romaine lettuce on a machine with heavy plastic dividers that separate workers from each other on April 27, 2020 in Greenfield, California. Credit: Brent Stirton/Getty Images Every Continue Reading
Musk: Tesla May Supply Batteries To Other Carmakers
Tesla is open to supplying batteries and powertrains and licensing software, Elon Musk said on Tuesday, in what analysts see as a potential boost to start-up EV manufacturers and a Continue Reading
Pandemic Sent U.S. Energy Consumption Plunging To 30-Year Low
April is typically a month with relatively low energy consumption in the United States, but this year in April, the pandemic and the lockdown led to the lowest monthly energy Continue Reading
Dakota Access Pipeline Saga Stalls Oil Production Recovery In The Bakken
The uncertainty surrounding the future operations of Dakota Access, the key pipeline carrying crude out of the Bakken, is stalling oil companies’ plans to invest in bringing back online the Continue Reading
Biggest U.S. Coal Carbon Capture Project Halted After Oil Price Crash
Low oil prices have made the only large-scale commercial project for carbon capture in the United States uneconomical, E&E News reported on Tuesday. The Petra Nova project for capturing carbon Continue Reading
Analysis: Henry Hub gas forwards turn bullish on tightening US supply-demand fundamentals
Highlights Bal-20 curve up 18%, or 32 cents, from late-June low Power burn, industrial recovery support demand Lower injection demand eases US storage surplus Balance-2020 forwards prices at the Henry Continue Reading
Hess raises Bakken production, has options if DAPL shuts down: CEO
Hess’ Bakken Shale production jumped 39% year on year in the second quarter, and the potential shutdown of a major pipeline that takes oil from the North Dakota field to Continue Reading
US crude stocks hit 14-week low amid rising exports, refinery demand: EIA
US crude oil inventories moved sharply lower during the week ended July 24 as exports and refinery demand climbed to multi-month highs, US Energy Information Administration data showed July 29. Continue Reading
IHS Markit: small long-term change for Canadian oil sands despite COVID-19 Shock & largest annual production decline in 2020
Canadian oil sands production is expected to decline by nearly 175,000 barrels per day (b/d) in 2020 as a result of COVID-19—the largest annual decline on record. However, the longer-term Continue Reading
Denbury to File Chapter 11
Denbury Resources Inc. became the latest debt-laden oil producer to say it will seek bankruptcy and hand ownership to lenders in the aftermath of a pandemic-fueled plunge in crude prices. Continue Reading
GE to Divest Baker Hughes Stake Over Three Years
General Electric Co. predicted slow gains in operations this year and next after the coronavirus pandemic battered results in the second quarter. The jet-engine division has tracked “early signs of improvement” Continue Reading
U.S. economy likely suffered historic plunge in second quarter; outlook murky as COVID-19 cases surge
The U.S. economy likely contracted at its steepest pace since the Great Depression in the second quarter as the COVID-19 pandemic destroyed consumer and business spending, potentially wiping out more Continue Reading
US is expected to report a record-breaking economic plunge
Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about any sustained recovery the rest of Continue Reading
US energy use hit 30-year low during pandemic shutdowns
U.S. energy consumption plummeted to its lowest level in more than 30 years this spring as the nation’s economy largely shut down because of the coronavirus, federal officials reported Wednesday. Continue Reading
America’s Big Plan To Bring Nuclear Energy To Space
The United States nuclear power sector has been in steep decline for years. Even though nuclear energy, which produces zero greenhouse gas emissions, stands to have a huge advantage as Continue Reading
Oilfield Services Say Goodbye To $45 Billion In Assets: Morgan Stanley
The Big Three in the oilfield services industry wrote down $45 billion in assets over the past year as their clients tightened their belts, according to Morgan Stanley, cited by Continue Reading
PNNL study finds 2028 grid resource adequacy likely sufficient for high EV penetration; managed charging strategies can double adequacy
A new study of the impact of high EV adoption on the Western US power grid by a team from Pacific Northwest National Laboratory (PNNL) has found that 2028 grid Continue Reading
How Many Oil Jobs Did Texas Lose in 1H?
According to TIPRO’s latest mid-year energy report, Texas has lost over 39,000 direct oil and natural gas jobs in the first half of 2020. According to the Texas Independent Producers Continue Reading
U.S. coal production hit its lowest point in last four decades
Last year was a terrible, horrible, no good, very bad one for the U.S. coal-mining industry. Freshly publicized federal data showing that U.S. coal production is down to its lowest Continue Reading
Sarah Gilbert, the driving force behind the Oxford vaccine, explains how her team is racing to beat the virus.
Last week was a big one for Sarah Gilbert at the University of Oxford, leader of the team that created the “Oxford vaccine”, a front runner in the race for Continue Reading
Is The UK’s Ambitious Plan For 30 Million EVs Feasible?
Seven percent – that’s the portion of electric vehicles and plug-in hybrids as a percentage of total sales as of the first quarter of this year. There were some 110,000 Continue Reading
Europe Looks To Become The Global Leader In Hydrogen
The energy system of the future took clearer form this month when the European Commission, the EU’s executive branch based in Brussels, adopted two closely related strategies. Its new Hydrogen Continue Reading
Auto industry set to put brakes on central Europe’s COVID-19 recovery
The auto industry, long a driver of economic growth in central Europe, is likely to be one of the main drags on the region’s efforts this year to recover from Continue Reading
Shell avoids loss with strong trading, wipes $17 billion off assets
Royal Dutch Shell ( RDSa.L ) avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a Continue Reading
Total Makes Surprise Profit as Trading Gains Offset Oil Slump
Total SE made a surprise profit after “very good” trading gains offset some of the slump in oil and gas prices due to the coronavirus pandemic. Mirroring the performance of some of Continue Reading
German economy shrank 10.1% in second quarter from previous quarter amid coronavirus shutdowns
FRANKFURT, Germany (AP) — German economy shrank 10.1% in second quarter from previous quarter amid coronavirus shutdowns. View full article at apnews.com
Oil Prices Inch Higher On Surprise Crude Draw
The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 6.829 million barrels for the week ending July 24. Analysts had predicted a modest inventory Continue Reading
Oil Prices for Jul. 29, 2020: Brent Crude, WTI
Oil edged higher as U.S. crude stockpiles were set to have fallen last week, while the dollar slid again. Futures in New York rose 1.1%. U.S. inventories fell by 6.83 million Continue Reading
Oil prices edge higher as U.S. inventory drop counters demand concerns tied to COVID-19
Oil prices climbed on Wednesday after a surprise drop in U.S. crude inventories was enough to offset concerns about U.S. fuel demand amid record increases in COVID-19 infections in some Continue Reading
Oil falls as U.S. stimulus package faces tough talks
Oil prices fell on Tuesday as U.S. lawmakers prepared to wrangle over an economic stimulus package and investors worried about a rise in coronavirus cases worldwide. Brent crude futures fell Continue Reading
OPEC May Have To Adapt To Lower-For-Longer Oil Demand
OPEC is trying to come to terms with the idea that the coronavirus crisis may have brought with it permanent changes in consumer behavior, stifling oil demand over the next Continue Reading
Oil Markets Face New Glut As OPEC Prepares To Open The Taps
The upcoming partial return of curtailed OPEC+ oil production from August is set to create a new four-month supply glut of around 170 million barrels, a Rystad Energy analysis reveals. Continue Reading
Oil Majors Discover Significant Gas Field In Egyptian Waters
European majors Eni, BP, and Total have successfully tested a new natural gas discovery in Egypt’s shallow waters, the Italian company said on Tuesday, commenting on its find that adds Continue Reading
Kadhimi aims to reign in border corruption
Iraqi Prime Minister Mustafa al-Kadhimi has redeployed security forces and replaced senior officials at key border points as part of a high-profile effort to reign in paramilitary groups — including Continue Reading
‘They want us to leave’ — foreign workers under pressure in the Gulf
Ashraf, an Egyptian working in Kuwait, lost all his income as a result of the coronavirus pandemic. The country’s curfew was eased two months ago, but for Ashraf there was Continue Reading
Nigerian banks squeezed as central bank shores up naira
* Fitch predicts 20% hit to Nigerian bank revenues this year * Central bank measures exacerbate lending, FX shortage woes * Economy faces COVID-19, oil price shock double whammy By Continue Reading
How India’s Oil Major Became Bigger Than Exxon
After decades of dominance, America’s largest energy company Exxon Mobil Corp. (NYSE: XOM), has finally ceded its position as the world’s second most valuable energy company to India’s Reliance Industries Continue Reading
Chilean minister says future hydrogen industry to rival copper
Chile, the world’s largest producer of copper, could one day be exporting as much as green hydrogen as it does minerals, according to a top government official. Speaking during a Continue Reading
Shipyards’ Rebound Hopes Are Coming Up Empty
Orders for new oceangoing ships are at record lows as carriers sit on the sidelines amid clouds of uncertainty. The blow to the global trading economy from the coronavirus pandemic Continue Reading
China’s July crude stocks reach record high, dampens Q3 refinery feedstock demand
China’s crude stockpiles reached a record high level in July as refiners struggle to digest mass crude oil cargoes purchased during the second quarter, while domestic fuel consumption slowed amid Continue Reading
A Totally Green Electric Grid Will Dramatically Speed Up Climate Action
The perfectly green electricity grid sought by Joe Biden isn’t the end of the fight against global warming. It’s the beginning. Today, 40% of America’s electricity comes from carbon-free sources. Continue Reading
Record Volumes Of Cheap U.S. Crude Oil Are Headed To Asia
A record volume of U.S. crude oil is set to arrive in China and the rest of Asia this month as buyers rushed to snap up cheap oil earlier this Continue Reading