Saudi Arabia’s economic outlook for this year remains uncertain amid the pandemic-driven economic slowdown and the collapse in oil prices that led to the Kingdom slashing its oil production as Continue Reading
Libya’s National Oil Corporation (NOC) said that a warship had been staying at the Ras Lanuf oil terminal for several days, and has demanded that the military activity at vital Continue Reading
Highlights Hess charters vessel to take stored crude: shipping report Key Libyan ports blockaded in power struggle Militia said it may allow some loadings to relieve storage London — Hess Continue Reading
A company owned by Iran’s biggest state-controlled charity has signed a contract to develop part of the country’s second-largest oil field. Sina Energy Development Co. will carry out drilling and Continue Reading
Iraq’s semiautonomous Kurdish region could not comply with Baghdad’s request to cut output by 120,000 b/d due to financing needs, but implemented a lesser reduction, a Kurdish minister told Iraq’s Continue Reading
Crude production from Kazakhstan’s highest-producing oil field, Tengiz, dropped 12% on the year in the second quarter to 570,000 b/d, figures from the Chevron-led operating consortium showed Sept. 9, reflecting Continue Reading
The Federal Government, Wednesday, asked a court in Milan, Italy, to order Royal Dutch Shell and Eni to pay the sum of $1.092 billion as an immediate advance payment for Continue Reading
The fully laden Indian Oil Corp., or IOC, chartered super tanker is leaking oil, likely from its fuel tanks but the 260,000 mt crude cargo is still safe, several sources Continue Reading
Carbon emissions are on the rise again after a short blip when the pandemic brought entire industries and international travel to a halt. Emissions from burning fossil fuel dropped by Continue Reading
Bill Gates better hurry up and build those “homegrown” nuclear reactors across the Pacific Northwest, because China is already on track to outpace the US in applying the newest generation Continue Reading
Government officials and state-owned energy enterprises in China are currently debating another wave of coal power investment, despite a severely diminished business case for the technology. These companies that own Continue Reading
China’s next five-year plan beginning in 2021 will call for increases to its mammoth state reserves of crude, strategic metals and farm goods, said officials familiar with the discussions. Beijing is Continue Reading
With one stroke, President Donald Trump’s abrupt reversal on offshore drilling this week has loosened a political vise that was tightening around three Republicans senators running for reelection in coastal Continue Reading
China’s car sales rose 6% in August over a year earlier as the industry’s biggest market recovered from the coronavirus pandemic, but purchases for the year to date were off Continue Reading
Hurricane Laura caused significant damage at a site holding about 30% of the nation’s store of emergency crude oil, but three other sites still have plenty of petroleum, U.S. Energy Continue Reading
US and European airlines warned on Wednesday of grim outlooks for the coming months, cutting schedules as passengers continue to avoid air travel during the pandemic. Ryanair, Europe’s largest low-cost airline, Continue Reading
The September Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because mitigation and reopening efforts related to the 2019 novel coronavirus disease (COVID-19) continue to evolve. Reduced economic activity related to Continue Reading
The majority of people in Canada’s oil-producing province of Alberta saw their economic fortunes worsened after the pandemic and the oil price crash, compared to a national average of 35 Continue Reading
An expanded Dakota Access pipeline could go into operation by the third quarter of next year, Energy Transfer said in an investor presentation. The embattled project, which aims to transport Continue Reading
Highlights EPD cancels M2E4 pipeline, shifts volumes to other pipes Permian pipeline projects could further be trimmed back New York — Enterprise Products Partners on Sept. 9 said it would Continue Reading
If Joe Biden wins the White House in November the US could see the largest public and private allocation of capital to renewable energy resources in history along with environmental Continue Reading
Iran sanctions relief under a change in US president represents the biggest supply and price impact for global oil markets heading into the November election, with analysts expecting a Biden Continue Reading
Ultrafast charging, the Holy Grail of batteries, has been elusive for years. It is one big reason—perhaps the biggest—why electric cars have not taken off the way they should have Continue Reading
The group of 15 Democrat-led states alleges the plan fails to account for danger to wildlife and climate-change impacts. (Bloomberg) — A group of 15 Democrat-led states sued to block Continue Reading
Russia’s natural gas monopoly Gazprom has increased its natural gas supply to China via the new pipeline Power of Siberia in July and August, compared to June, a senior Gazprom Continue Reading
Russian gas producer and LNG exporter Novatek is looking into the viability of commercial hydrogen production from methane, its CFO Mark Gyetvay said Sept. 8. Receive daily email alerts, subscriber Continue Reading
BP entered the offshore wind market on Thursday with a $1.1 billion deal to buy 50% stakes in two U.S. developments from Norway’s Equinor, a significant step by the oil Continue Reading
Poland is ready to offer Germany access to the 10 Bcm a year Baltic Pipe that will deliver gas from Norway if Berlin halts construction of the controversial Nord Stream Continue Reading
Oil in London moved back above $40 a barrel, as markets broadly rebounded from Tuesday’s sharp selloff. Futures rose 1.1% after a precipitous slump a day earlier that saw prices settle Continue Reading
Along with WTI and Brent crude prices, natural gas prices fell precipitously on Tuesday, but the regional differences in gas prices during the last couple of months are shrinking according Continue Reading
Faltering demand and weaker equities are undermining market sentiment. (Bloomberg) — Crude in London tumbled below $40 a barrel for the first time since late June and futures in New Continue Reading
Oil prices crashed at the start of the week, with fears about global oil demand and a weak stock market being the main catalysts. Chart of the Week – U.S. Continue Reading
Fitch Ratings has lowered its long-term price assumption for West Texas Intermediate to $50 from $52 a barrel expected earlier, to reflect fragile market balances, inventory overhangs, lower breakevens, and Continue Reading
A recovery in jet fuel, gasoline, and crude oil demand is the one thing standing in the way of drawing down the existing inventory glut for crude and crude products. Continue Reading
Even the cleanest fossil fuel is losing its appeal to rich nations. Just a few years ago, natural gas was hailed as vital for the transition toward an economy that runs Continue Reading
Add this to your already long list of 2020 oddities: Greenhouse gas emissions are projected to experience their steepest drop in modern history while the world remains on track to Continue Reading
A report commissioned by federal regulators overseeing the nation’s commodities markets has concluded that climate change threatens U.S. financial markets, as the costs of wildfires, storms, droughts and floods spread Continue Reading
The icebreaker, the Nathaniel B Palmer, mapped more than 2,000 sq km of seafloor in front of the glacier Scientists may just have identified Thwaites Glacier’s Achilles heel. This Antarctic Continue Reading
Saudi Arabia has scored the support of the International Atomic Energy Agency in its effort to adopt nuclear energy, Reuters reports , quoting a Saudi TV channel that cited the Continue Reading
Two of Libya’s National Oil Company affiliates on Monday sent some oil workers home and halted some work due to the spread of Covid-19, according to a NOC statement. Libya’s Continue Reading
At Friday prayers at the Al Aqsa Mosque in East Jerusalem, the faithful often hold up portraits of Recep Tayyip Erdogan, the Turkish president, worshipping under the gleaming gold crescent Continue Reading
Iraq is in talks with ENI to build a 300,000 b/d refinery at an estimated cost of $4 billion near the Zubair oil field operated by the Italian company in Continue Reading
ExxonMobil said on Tuesday it had made its 18 th oil discovery offshore Guyana, which adds to its previous estimate of more than 8 billion barrels of discovered recoverable resources Continue Reading
U.S. companies in China are increasingly fretful that trade tensions between the world’s two biggest economies will drag out over years and nearly a third said their ability to retain Continue Reading
U.S. President Donald Trump on Tuesday signed an order to extend a ban on offshore oil drilling in the eastern Gulf of Mexico off Florida, as he seeks to win Continue Reading
General Motors Co ( GM.N ) and electric truck startup Nikola Corp NKLA.O will join forces to build electric pickup trucks and fuel cell commercial trucks to take on Tesla Continue Reading
In a matter of weeks, California has been hit with two record-breaking heat waves, hundreds of blazes, freak lightning storms and dangerously poor air quality. Now, unusually strong winds are Continue Reading
Power shut-offs like the one that darkened parts of California this week are expected to be a regular occurrence in the state for years during wildfire season as PG&E Corp. PCG 0.33% upgrades its aging equipment and Continue Reading
Gasoline imports into the US Atlantic Coast January through August plummeted 39.3%, as mostly open arbitrage plays could not overcome coronavirus pandemic-dampened demand. An analysis of US Customs data showed Continue Reading
A firefighter works during the Creek Fire in Madera County, California on Sept. 7. California’s worst fire season on record is about to ramp up as a hot, dry autumn Continue Reading
