Russia has become the first country to grant regulatory approval to a vaccine against Covid-19, with mass production and immunisation of key workers to begin in the next few weeks. The Continue Reading
German utility Uniper – one of five Western European companies partially funding the Russia-led Nord Stream 2 gas pipeline project – warned on Tuesday that it might have to write Continue Reading
European banks committed to backing action on climate change face allegations of double standards from indigenous groups in Ecuador after a report named them as major players in the trade Continue Reading
The U.K. economy suffered more than any major European nation during the coronavirus lockdowns, piling pressure on the government to ensure the withdrawal of its support programs doesn’t derail the Continue Reading
“It’s been a rough few months,” said Richard Swart, global sales and quality director at Berger Global, a Durham, England-based unit of Germany’s Rheinmetall AG that manufactures rings used to Continue Reading
Danish energy company Orsted Aug. 12 said its second-quarter offshore wind generation increased 20% year on year amid subdued wind speeds after a 48% jump in Q1. Receive daily email Continue Reading
Crude oil prices rose on Tuesday, underpinned by expectations of a U.S. stimulus to help jumpstart the world’s biggest oil consumer, a rebound in Asian demand as economies reopen and Continue Reading
Oil posted the biggest gain in a week in New York amid signs that the U.S. may move forward with another economic stimulus deal that could bolster consumption. Treasury Secretary Continue Reading
Crude oil markets remained optimistic over the past week supported by several bullish factors. Brent spot prices rose above $46 for the first time since April on a much weaker Continue Reading
Oil settled higher on Monday, supported by data suggesting Chinese factories were returning to pre-pandemic levels, signs of rising energy demand and hopes for an agreement in the United States Continue Reading
The market is gradually beginning to give credence to something I’ve been discussing in past OilPrice articles for a long time now. In a June, 2020 article entitled, Underinvestment Could Continue Reading
In one of the most challenging quarters for the oil industry in recent memory, the five Big Oil firms wrote down nearly US$50 billion from the value of their oil Continue Reading
For three decades scientist Peter Doran has collected environmental data in Antarctica. This year he is leading a project that uses aerial sensors to probe beneath the surface of vast Continue Reading
Ice shelves can extend under the water for many hundreds of metres Twenty-five years of satellite observations have been used to reconstruct a detailed history of Antarctica’s ice shelves. These Continue Reading
While over a week ago it was looking as if Turkey might back down on its ambitious oil and gas exploration aims in the eastern Mediterranean amidst global pressure, especially Continue Reading
While the world is still awash with oil that it cannot quickly get rid of during a time of historic demand crumbling, the world’s largest oil company is looking to Continue Reading
The world’s biggest oil-producing and oil-exporting company, state oil giant Saudi Aramco, is optimistic about the pace of oil demand recovery in Asia, chief executive Amin Nasser said on Sunday, Continue Reading
Oil tanks full to the brink at Libya’s oil export terminals are posing a risk to local communities and the facilities themselves, the chairman of the National Oil Corporation, Mustafa Continue Reading
Iraq’s oil output in July, including flows from the semi-autonomous Kurdish region, remained steady compared with June as the country missed its target to comply with OPEC+ cuts and also Continue Reading
Libya’s Waha oil fields have had work carried out on them to maintain the production and service facilities after they were offline for more than seven months due to an Continue Reading
Iraq’s energy ties with the US, which were supposed to yield oil deals following the 2003 invasion, have been whittled down to waivers to OPEC’s second-biggest producer to import Iranian Continue Reading
Since the landmark deal that saw OPEC+ agree to cut nearly 10 million barrels per day of oil production to clear the global gut created by the coronavirus pandemic and Continue Reading
NIGERIANS, weekend, engaged in panic buying of fuel, as Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, yesterday ordered full compliance as members of the Petroleum Tanker Drivers, PTD, Continue Reading
AFRICA’S largest oil refinery, which is anticipated to be the biggest single-train structure, is set to be opened early next year. The Dangote Oil refinery is the brainchild of Africa’s Continue Reading
Could Australia, one of the world’s biggest exporters of coal and natural gas, become a solar superpower? The island continent, distant from Asia’s megacities, plans to capture the plentiful Outback sun, Continue Reading
Australia has shipped vast quantities of coal and gas to fuel Asia’s rapid growth for decades. But amid global concerns over climate change, investors and a previously skeptical conservative government Continue Reading
Natural disasters in China cause tens of billions of dollars in economic loss and hundreds of deaths every year. While people accept most of the disasters as unpreventable, the losses worsen Continue Reading
Roughneck job cuts accelerated in July and the outlook may worsen as new Covid-19 cases stifle economic activity, according to the Petroleum Equipment and Services Association. The U.S. oilfield-services sector shed 9,344 Continue Reading
Dozens of new electric-vehicle models are expected to arrive at dealerships in the next few years. We followed eight Wall Street Journal reporters in four countries to see if they, Continue Reading
The new rules, expected to be signed and issued this week, adopt most of the core elements of two proposals from 2018 and 2019. Agency officials are fulfilling a directive Continue Reading
Jet fuel is known as the Steady Eddie of the refinery business, a predictable profit maker that balances the seasonal gyrations of gasoline and diesel sales. But for airlines, it Continue Reading
The U.S. oilfield services industry lost another 9,000 jobs in July, up by 43 percent compared to the jobs lost in June, Bloomberg quoted the latest report from the Petroleum Continue Reading
Wouldn’t it be wonderful if we could do something useful with excess carbon dioxide other than capture it, compress it, and bury it deep in the bottom of the ocean? Continue Reading
A storm packing hurricane-force winds tore across the U.S. Midwest on Monday, causing widespread property damage in cities and rural towns and leaving more than half a million homes and Continue Reading
People in China are back to buying German luxury cars. Europe’s assembly lines are accelerating. Now the global economy is waiting for the United States to get its coronavirus outbreak Continue Reading
The Trump administration is expected in the coming days to lift Obama-era controls on the release of methane, a powerful climate-warming gas that is emitted from leaks and flares in Continue Reading
Hydrogen, the most abundant element in the universe, has been stealing the spotlight from EVs and renewables lately. From a sort of boutique car fuel a couple of decades ago, Continue Reading
Western Europe’s largest oil producer, Norway, which is not officially part of the OPEC+ coalition, is cutting its oil production because of the slump in demand and prices and is Continue Reading
McDermott International Ltd. reported Monday that Train 3 at Cameron LNG has begun commercial operation. Sempra LNG, Total S.E. Mitsui & Co., Ltd. and Japan LNG Investment LLC jointly own Continue Reading
Battered by pandemic and economic collapse, do Americans have the capacity to care about the environment? Not so much, judging by a national poll we just conducted. We asked a Continue Reading
Central now to Russia’s hydrocarbons-related power is its Arctic sector oil and gas reserves. These comprise over 35,700 billion cubic metres of natural gas and over 2,300 million metric tons Continue Reading
Norway’s oil major Equinor announced on Monday that its incoming chief executive Anders Opedal – who will replace retiring Eldar Sætre in November – has a mandate from the board Continue Reading
European weekly wind power generation averaged 29.3 GW in the seven days to Aug. 9, down 20% from the previous week due to a heatwave developing across Western Europe, data Continue Reading
Norway may not officially be part of the OPEC+ alliance to curb oil supply in the face of the coronavirus pandemic, but next month it looks like the Scandinavian country Continue Reading
Five days after the demise of Isaias, there’s a new tropical wave that bears watching swirling across the Atlantic. It’s the latest sign of activity in an ocean basin that Continue Reading
Russian vaccine has yet to complete clinical trials but works ‘effectively enough,’ President Putin said. A Russian health care regulator has become the first in the world to approve a Continue Reading
Russian President Vladimir Putin declared victory in the global vaccine race Tuesday, announcing that the country has become the first to approve a coronavirus vaccine and that his own daughter Continue Reading
Oil prices climbed on Monday, supported by Saudi optimism about Asian demand and an Iraqi pledge to deepen supply cuts, although uncertainty over a deal to shore up the U.S. Continue Reading
Oil snapped a two-day losing streak as Saudi Aramco predicted demand will continue to improve through the rest of the year, despite many regions across the world struggling to bring Continue Reading
The world’s five largest oil companies collectively cut the value of their assets by nearly $50 billion in the second quarter and slashed production rates as the coronavirus pandemic caused Continue Reading
