China Ramps Up US Oil Purchases
China has ramped up purchases of American crude in the lead-up to a highly-anticipated review of the trade deal between the two economic powerhouses. (Bloomberg) — China, the world’s biggest Continue Reading
China evacuates 100,000 as floods threaten heritage site
Floods on the upper reaches of China’s Yangtze river forced authorities to evacuate more than 100,000 people on Tuesday and threatened a 1,200-year-old world heritage site. Staff, police and volunteers Continue Reading
S&P 500 Sets First Record Since February, Erasing Its Coronavirus Plunge
The S&P 500 closed at its highest level ever Tuesday, capping a remarkable rebound fueled by unprecedented government stimulus and optimism among investors about the world’s ability to manage the Continue Reading
Oregon senators prepare bills to rein in eminent domain use for gas projects
Two Democratic Oregon US senators are readying legislation that would impose new constraints on the use of eminent domain for interstate natural gas projects, particularly those targeting exports. Receive daily Continue Reading
Henry Hub rally continues, supported by stumbling production, rising demand
Henry Hub gas prices continue to test new annual highs in recent trading as stalling US gas production and rising LNG and industrial demand buoy the cash, futures and forwards Continue Reading
Record High for U.S. Stocks Leaves Rest of the World Far Behind
As the rest of the world woke up Wednesday to all-time highs for U.S. stocks, it would be the only natural for a wave of jealousy to accompany the incredulity. Many global markets, Continue Reading
Two Atlantic tropical storms may form soon, with more to come
Two tropical disturbances in the Atlantic are likely to develop into tropical cyclones during the next week, with tracks that favor eventual impacts on land. The reawakening of the ocean Continue Reading
Dozens of US nuclear power plants at risk due to climate change: Moody’s
Dozens of US nuclear power plants, comprising nearly half the country’s operational nuclear generating capacity, “will face growing credit risks” in the next 10 to 20 years due to flooding, Continue Reading
US utilities, power providers continue plans to accelerate coal retirements
US coal producers are already in a tough spot, but the hints power generators dropped on second-quarter earnings calls suggest they may soon be announcing plans to retire even more Continue Reading
California hopes to avoid outages again during heat wave, prices hit records
Power prices in the U.S. West soared to record highs for a second day on Tuesday, and California utilities urged consumers to conserve energy to avoid more rotating outages as Continue Reading
Russia’s Crude Oil Exports To Europe May Not Stay Low For Long
Russia’s seaborne crude oil exports are trending lower so far in August compared to July, but with Russia ramping up production with the easing of the OPEC+ cuts, this summer’s Continue Reading
Crude rally pauses, prices slide on profit-taking as market awaits fresh drivers
Crude oil futures were lower in mid-morning trade in Asia on Aug. 18 as investors took some profit and paused for fresh drivers after an overnight rally on improved fundamental Continue Reading
Oil holds gains made on high OPEC+ compliance
Oil prices steadied on Tuesday, hanging on to gains from the previous session thanks to high compliance with production cuts from members of the OPEC+ producer group. Brent crude LCOc1 Continue Reading
Oil Prices Surge Alongside Equities
Oil jumped to a five-month high alongside a surge in U.S. equities as optimism that an economic recovery may be on the horizon lifted hopes for improving fuel demand to Continue Reading
Oil Prices Rebound As U.S. Inventories Dwindle
Traders remain concerned about the increasing number of COVID-19 cases in many parts of the world including the United States, India and Brazil. The rise in infections continues to have Continue Reading
Bank Of America: Brent Will Recover To $60 In H1 2021
Bank of America expects oil prices to recover to $60 a barrel for Brent crude in the first half of next year thanks to shrinking global inventories and prices improving Continue Reading
Oil Market Report – August 2020
Global oil supply rose by 2.5 mb/d to 90 mb/d in July after Saudi Arabia ended its voluntary 1 mb/d cut, the UAE exceeded its OPEC+ target and US production Continue Reading
Pandemic now driven by 20s, 30s, 40s group, many asymptomatic: WHO
The World Health Organization said on Tuesday it was concerned that the novel coronavirus spread was being driven by people in their 20s, 30s and 40s, many of which were Continue Reading
Is This The Beginning Of The End Of Oil & Gas Exploration?
Booms and bust cycles are very much a part of investing in the fossil fuel sector. In previous energy downturns, prices frequently experienced serious slumps, but oil and gas companies Continue Reading
OPEC+ Complied 95% With Oil Production Cuts In July
The OPEC+ coalition saw its compliance rate with the oil production cuts at 95 percent in July, four sources from the group told Reuters on Monday, which is a level Continue Reading
Tehran Says Ships Targeted by U.S. Were Holding Iranian Fuel
Four tankers whose cargoes were seized by the U.S. over the past month were heading to Venezuela with gasoline loaded in Iran, according to Iranian Oil Minister Bijan Namdar Zanganeh. Continue Reading
Iraq to Sign Memorandum With Chevron to Explore For Oil
Attendees stand near Chevron signage during the World Gas Conference. Iraq plans to sign a memorandum of understanding with Chevron Corp. to explore for oil in the country’s southern province Continue Reading
Chevron Pursues Exploration Deal in Iraq
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
Iran Signs Deals With Local Firms To Boost Oil Production Capacity
Iran signed on Monday a total of 13 oil contracts with 14 domestic firms, which will raise the Islamic Republic’s oil production capacity by 185,000 barrels per day, the oil Continue Reading
Iran Claims Fuel Seized By U.S. Was Not Iranian…. But It Was
Iran insists that the fuel on the four tankers the United States seized in the Caribbean en route to Venezuela last week was no longer property of Iran when seized, Continue Reading
Baghdad-Erbil revenue deal back on track
Iraq’s federal government and semi-autonomous Kurdistan Regional Government have agreed on a revenue-sharing deal, ending more than three months of deadlock and opening the way for Baghdad to restart vital Continue Reading
Iran signs contracts to expand oil production capacity by 180,000 b/d
Iran’s state-run companies have signed 13 contracts with local contractors that aim to raise oil production by over 180,000 b/d, as part of the country’s policy to be in a Continue Reading
Tehran Says Targeted Tankers Held Iranian Fuel
Four tankers whose cargoes were seized by the U.S. over the past month were heading to Venezuela with gasoline loaded in Iran, according to Iranian Oil Minister Bijan Namdar Zanganeh. His Continue Reading
Chevron Pursues Exploration Deal in Iraq
On the sidelines of the visit, U.S. and Iraqi officials also intend to unveil progress toward finalizing natural-gas and power-technology deals with Honeywell International Inc., HON -0.95% General Electric Co., Continue Reading
China’s CDC, Built to Stop Pandemics Like Covid, Stumbled When It Mattered Most
Before going to bed, George Gao, the head of the Chinese Center for Disease Control and Prevention, typically completes his 10,000 steps for the day and then checks the news Continue Reading
China’s share of global exports falls in supply chains rethink
China’s share of global exports has been hit by its trade dispute with the US which – together with the pandemic, corporate governance demands and the rise of artificial intelligence Continue Reading
Japan ties national heat record as Hamamatsu hits 106 degrees
Temperatures soared into the triple digits and tied a national record in Japan on Monday, part of a sweltering heat wave that has swallowed the archipelago. Hamamatsu, a coastal city Continue Reading
China’s US LNG imports fall short of Phase 1 trade targets: Panjiva
China’s imports of US LNG totaled about $300 million during the first half of the year, and together with purchases of the remainder of US energy products, fell short of Continue Reading
China’s Summer of Floods is a Preview of Climate Disasters to Come
Paramilitary policemen evacuate people in a flooded region in Wanzhou in southwest China’s Chongqing Municipality Thursday, July 16, 2020. Credit: Feature China/Barcroft Media via Getty Images In early July, high Continue Reading
Trump administration finalizes oil drilling plan in Alaska wildlife refuge
The Trump administration on Monday finalized a plan to allow oil and gas drilling in Alaska’s Arctic National Wildlife Refuge, putting it on track to issue decades-long leases in the Continue Reading
Defying Trump, California locks in vehicle emission deals with major automakers
The California Air Resources Board (CARB) and major automakers on Monday confirmed they had finalized binding agreements to cut vehicle emissions in the state, defying the Trump administration’s push for Continue Reading
Virus pandemic reshaping air travel as carriers struggle
In a bid to survive, airlines are desperately trying to convince a wary public that measures like mandatory face masks and hospital-grade air filters make sitting in a plane safer Continue Reading
Biden gambles on placing climate change at heart of US energy policy
He served in an Obama administration that oversaw a historic surge in American oil and gas production, as shale went mainstream. Tens of thousands of wells were drilled and energy-bearing Continue Reading
Drilling Productivity Report for August
The Drilling Productivity Report (DPR) rig productivity metric new-well oil/natural gas production per rig can become unstable during periods of rapid decreases or increases in the number of active rigs Continue Reading
Refinery Closures Continue Amid Oil Demand Slump
Refiners are shutting down permanently or converging oil refineries as the demand crash from the pandemic continues to crush refining margins. Several refiners and oil majors have recently announced permanent Continue Reading
Trump To Open Alaska Arctic Refuge To Oil Drilling For First Time
The Trump Administration is set to open the Arctic National Wildlife Refuge in Alaska to oil drilling for the first time by approving a drilling program on Monday, U.S. Secretary Continue Reading
Analysis: Permian supply concerns push SoCal winter gas prices toward record highs
SoCal Gas city-gate winter 2020-21 forwards prices are now at their highest since early May as stalling West Texas gas production and shifting regional fundamentals boost competition for Permian supply. Continue Reading
Scorching temperatures, power outages push California gas prices to summer highs
A record-breaking heatwave and surge in cooling demand led to a spike in natural gas prices in California Aug. 17, with the highest levels seen so far this summer posted. Continue Reading
California Blackouts a Warning for States Ramping Up Green Power
PG&E began cutting off power to more than 700,000 households and businesses across northern and central California in rolling blackouts to prevent wildfires. The utility said it could take up Continue Reading
Uncertainty Upends Mergers & Acquisition In Oil And Gas
Every crisis has its consolidation. At least, that used to be the case before the 2020 oil industry crisis. When earlier this summer Chevron said it would acquire Noble Energy, Continue Reading
Study: 25% EV adoption would save US $17B annually from avoided climate change & pollution damages
A new study led by researchers from Northwestern University projects that if electric vehicles replaced 25% of combustion engine cars currently on the road, the United States would save approximately Continue Reading
Calif. Gas Power Retirements Evident in Heat Wave
One of the most extreme heat waves in generations is smothering California this week and pushing the region’s power grid to the brink of collapse. In the past 72 hours, Continue Reading
Democrats seek to spotlight climate change at convention despite coronavirus crisis
Democrats will try to bring climate change to the fore during the party’s unconventional convention starting this week. But it remains to be seen how much the issue of rising Continue Reading
Melting ice is a gift to the fossil fuel tankers navigating the Arctic
A stocky blue 980-foot-long tanker named Christophe de Margerie sailed from Russia’s far-north Yamal Peninsula to the Bering Strait near Alaska in May, two months before such ships usually pass Continue Reading
Biggest Offshore Wind Farm to Sell Power to Danske Commodities
A giant wind farm being developed off the coast of the U.K. will sell some of its power to energy trader Danske Commodities A/S. Under the 15-year deal, the subsidiary of Equinor ASA will Continue Reading