Parts of the European economy which were hardest-hit by the pandemic are showing signs of recovery but other areas of activity that began to bounce back earlier have leveled off, Continue Reading
European Union leaders agreed on Tuesday to allocate more than US$572 billion (500 billion euro), or 30 percent of the massive stimulus package , for investments in policies to fight Continue Reading
Struggling with a recession amid low oil prices and measures to curb the pandemic, Russia is mulling over cutting its military budget by 5 percent between 2021 and 2023, recommendations Continue Reading
Crude oil futures were rangebound in mid-morning trade in Asia July 21, as hopes of a potential vaccine for coronavirus helped offset concerns about the rising pandemic cases globally. At Continue Reading
Oil was anchored near $40 a barrel as investors weighed virus and weather-driven demand concerns against expectations U.S. crude and gasoline stockpiles continued to shrink. Vaccine trials are showing promising results but the Continue Reading
Oil edged up with support from U.S. equities, but pandemic-driven demand concerns capped the price rebound. Crude futures in New York managed to close 0.5% higher on Monday, boosted by Continue Reading
The price of natural gas fell nearly 5% on Monday, as lower U.S. LNG exports threaten to exacerbate inventories, which are already significantly higher than the five-year average. The price Continue Reading
U.S. demand for petroleum and liquid fuels is expected to remain below the 2019 average from before the COVID-crisis until August 2021, despite the uptick in consumption in recent weeks, Continue Reading
A coronavirus vaccine the University of Oxford is developing with AstraZeneca Plc showed promising results in early human testing, and is now set to move into larger trials that are likely to be Continue Reading
Crushed rocks could one day draw down billions of metric tons of carbon dioxide from the air. The idea, often referred to as “enhanced rock weathering” (ERW), is among a Continue Reading
Early data from trials of three potential coronavirus vaccines released on Monday, including a closely-watched candidate from Oxford University, increased confidence that a vaccine can train the immune system to Continue Reading
Saudi Twitter users have sent thousands of tweets accusing the kingdom’s former crown prince and his long-time aide of corruption, in what two Saudi sources said was a campaign to Continue Reading
Nestled in a valley in central Chile, near lakes and snowcapped mountains, sits one of the world’s most polluted cities. Every winter, sleepy Temuco plunges to the bottom of global air Continue Reading
Following to the oil price crash and the coronavirus crisis, the Arab Gulf countries are set to accumulate as much as US$490 billion in combined government deficits between 2020 and Continue Reading
The U.S. sanctions on Iran’s oil and other industries are scaring foreign firms which are unwilling to sign any deals in any sector with Iran and are even rescinding existing Continue Reading
Iran signed on Monday a US$1.3-billion deal with domestic companies to double the production capacity at the massive Azadegan oilfield, expecting the rise in production to boost its oil revenues Continue Reading
Violent clashes erupted over the weekend between two armed groups in the Brega region, in Libya’s Oil Crescent, the Libyan National Oil Corporation said in a statement. “Violent Clashes took Continue Reading
The current energy market crisis could benefit Qatar and fuel a second gas boom, PwC said in a report, as cited by the Gulf Times. The world’s top exporter of Continue Reading
King Salman bin Abdulaziz of Saudi Arabia has been admitted to a hospital in Riyadh early Monday for medical tests, the second elderly ruler of an oil-rich Gulf Arab nation to Continue Reading
If Afghanistan is the proverbial “graveyard of empires,” Libya is becoming a crucible for would-be regional powers. The intractable civil war that has carved apart the oil-rich North African country is in reality a multisided Continue Reading
If presumptive Democratic candidate Joe Biden wins the presidential election in November, Iran could suddenly turn from a bullish driver for oil prices into a bearish factor if it resumes Continue Reading
South Sudan’s oil production has dropped by 20,000 b/d to 170,000 b/d because of the impact of surging coronavirus cases, which has led to disruptions in operations at oil fields, Continue Reading
The majority of the world’s oil producers have been racing to heavily cut back spending and production in response to the oil market crisis, while Mexico’s national oil company, Petroleos Continue Reading
Shipments of diesel and jet fuel from East Asia to Europe are set to stay low for a while yet, potentially aiding hard-pressed European refiners. Only two ships hauling about 160,000 tons of Continue Reading
A Korean research team has developed a technology that can be used to mass-produce aviation-grade fuels from wood wastes. The ability to produce aviation-grade fuel from oil derived from wood Continue Reading
China is set to boost its gasoline and gasoil exports from August as state-run refiners actively seek to clear the country’s surging oil product stockpiles with heavy rains and floods Continue Reading
The usual post-merger giddiness that abounds after a multibillion-dollar oil deal is noticeably absent in the wake of Chevron Corp.’s $5 billion takeover bid for Noble Energy Inc. With Chevron agreeing Continue Reading
Chevron will take over Noble Energy for $5 billion in the first big deal announced since the coronavirus pandemic shook the energy sector. Chevron has been shopping for assets since Continue Reading
Chevron has decided to acquire Noble Energy in a $5 billion deal , expanding its footprint in U.S. shale and in the Eastern Mediterranean. The acquisition is the first major Continue Reading
The low oil prices and drastically reduced fracking activity in North America claimed another victim as oilfield services provider BJ Services filed on Monday for Chapter 11 bankruptcy protection. Texas-based Continue Reading
Cummins, Plug Power, Caterpillar, Nikola, 3M and Hornblower Yachts are among the companies who will receive funding from the US Department of Energy for various hydrogen research projects, the department Continue Reading
Chevron’s $5 billion bid for Noble Energy July 20 moves the major into both the East Mediterranean gas sector and the US’ Denver-Julesburg Basin at a time of uncertainty in Continue Reading
Earlier this month, a federal judge stunned the U.S. energy sector with an order to shut down the Dakota Access pipeline. Environmentalists hailed it as the first time a fully Continue Reading
The Bureau of Ocean Energy Management is proposing to offer approximately 78.8 million acres in a new Gulf of Mexico lease sale. The Bureau of Ocean Energy Management (BOEM) has Continue Reading
The Dakota Access Pipeline is currently mired in a legal battle that has no definitive end in sight. Earlier this month, the extremely divisive pipeline that has been the subject Continue Reading
General Motors is no longer interested in selling a hydrogen fuel-cell passenger car, and will instead focus on battery-electric vehicles. The company hadn’t provided an update on fuel-cell activities in Continue Reading
The developer of the Nord Stream 2 gas pipeline said July 20 the investments needed to complete the 55 Bcm/year link could be blocked if the US imposed sanctions against Continue Reading
European Union leaders clinched an “historic” deal on a massive stimulus plan for their coronavirus-throttled economies in the early hours of Tuesday, after a fractious summit that lasted almost five Continue Reading
Volkswagen is rolling out its own charging service to coincide with the market launch of the ID. family. With We Charge, customers will be able to charge their electric vehicles Continue Reading
Crude oil futures traded lower during mid-morning trade in Asia July 20 as rising coronavirus infections worldwide weighed market sentiment down. At 10:30 am Singapore time (0230 GMT), ICE Brent Continue Reading
Oil extended declines toward $40 a barrel as concerns about demand linger with the coronavirus raging across many regions. Infections flared by a record in Hong Kong, and Los Angeles is on the Continue Reading
The cash margin for U.S. LNG exporters improved slightly in the second quarter, but will likely remain negative for the duration of 2020, according to a new report. The LNG Continue Reading
Oil market bulls are in for a surprise if we believe the latest statements from OPEC+ leaders Saudi Arabia and Russia. The official views proponed by the OPEC+ JMCC during Continue Reading
Most parts of Lebanon are receiving no more than two or three hours of electricity a day. An incoming flight at Beirut’s airport had to abort a landing this month Continue Reading
Iran’s Petropars Ltd. signed a contract to more than double output at the South Azadegan oil field, the second deal this month to boost production at a deposit shared with Continue Reading
The United Arab Emirates launched its first mission to Mars on Monday as it strives to develop its scientific and technological capabilities and reduce its reliance on oil. The Hope Continue Reading
Saudi Arabia’s 84-year-old ruler, King Salman bin Abdulaziz, has been admitted to hospital in the capital Riyadh, suffering from inflammation of the gall bladder, state news agency SPA said on Continue Reading
Israel’s cabinet approved a multinational accord to lay a pipeline that will facilitate the export to Europe of natural gas found in Israeli and Cypriot waters. he $6 billion plan, Continue Reading
Ethiopia has been at loggerheads with downstream neighbors Egypt and Sudan for years over a $4.8 billion mega-dam it’s building on the Nile River. Now the standoff is coming to Continue Reading
One of the world’s forgotten conflicts is now making headlines again. In the last week, the military conflict between Azerbaijan and Armenia has reignited, with the two nations having already Continue Reading
