Oil’s Luck Runs Out As Driving Season Ends
This year’s driving season was a disappointment for those who hoped and expected it to pull oil prices higher, helped by the pandemic that, those optimists reasoned, would motivate people Continue Reading
Trump’s Drilling Ban Bombshell Rocks Oil Industry
U.S. President Donald Trump shocked the oil industry today with a surprise announcement that he would extend the existing moratorium on oil drilling on parts of Florida’s, South Carolina’s, and Continue Reading
France Aims to Offset Paris Carbon Emissions With Clean Hydrogen
France’s 7 billion-euro ($8.3 billion) plan to use clean hydrogen in industrial processes and transport will cut the country’s carbon dioxide output in 2030 by the equivalent of the annual emissions Continue Reading
EU says one in eight deaths is linked to pollution
Nitrogen dioxide air pollution 5-10 January (sequence is played twice) One in every eight deaths in Europe can be linked to pollution, according to a new report by the EU’s Continue Reading
Britain blocks plans for new coal mine in northeast England
The British government has refused to allow an open cast coal mine to be built in northeastern England, the minister for Housing, Communities and Local Government Robert Jenrick said. Northumberland Continue Reading
Oil Falls Past Two-Month Low on Bleak Short-Term Demand Outlook
Oil fell to its lowest intraday level since July as signs of faltering demand continue to depress prices. Futures in London traded below $42 a barrel after dropping 1.5% on Continue Reading
Oil Down After Saudi Price Cuts
Oil extended its retreat below $40 a barrel after Saudi Arabia cut pricing for October crude sales as the summer driving season winds down with many countries still struggling to Continue Reading
Oil Extends Drop After Saudi Price Cuts Show Demand Concern
Oil extended its retreat below $40 a barrel after Saudi Arabia cut pricing for October crude sales as demand stuck below pre-Covid levels. Futures in New York dropped after Saudi Continue Reading
Do Oil Market Fundamentals Justify $40 WTI?
Oil prices have been locked in the current price range for months now, with price volatility dropping drastically. It seemed that only inventory reports, OPEC’s compliance rate, and the re-opening Continue Reading
Fragile Demand for Gasoline, Keeps Pressure on Crude Oil Prices
Crude oil bears increased their selling pressures as oil traders reacted to Saudi’s massive price cuts for supply to Asia. The Saudis made their biggest discounts on their crude grades Continue Reading
IEA: Oil Demand Recovery Has Stalled
The International Energy Agency (IEA) joined the chorus of analysts saying that the pace of global oil demand recovery has stalled in recent weeks on the back of weak refining Continue Reading
IOCs committed to helping drive energy transition; gas has key role: industry
Oil and gas majors are committed to helping drive the energy transition, with gas in particular set to play a critical role in helping to meet climate change goals, senior Continue Reading
Total CEO predicts peak oil by 2040
Speaking at the ONS Digital Conference in a video presentation, Patrick Pouyanne, the CEO of Total SA, said he now expects oil production to peak between 2030 and 2040, although Continue Reading
Are We On The Cusp Of A Global Energy Crisis?
Goehring and Rozencwajg believe that we are on the cusp of a global energy crisis because of the depletion of U.S. tight oil plays. “We are on the cusp of Continue Reading
Worsening Water Woes to Play Bigger Role in Sovereign Ratings
Intensifying risks related to water such as its scarcity and extreme events like droughts and floods are set to become a more crucial factor in determining sovereign ratings, adding pressure Continue Reading
Turkey’s Muscle Flexing in the Med Isn’t Just About Gas
Sailing through the Bosporus Strait that divides Europe from Asia last year, a Turkish fleet saluted the tomb of 16th century pirate and admiral Barbarossa, reviving a tradition that harks Continue Reading
Saudi King Salman, Russia’s Putin express ‘satisfaction’ with OPEC+
Saudi Arabia’s King Salman bin Abdulaziz al-Saud and Russian President Vladimir Putin both expressed “satisfaction” with the implementation of the OPEC+ crude oil output deal and discussed ways to address Continue Reading
OPEC Puts Celebrations on Ice
OPEC’s 60th anniversary celebrations have been postponed in the wake of the Covid-19 pandemic. OPEC’s 60th anniversary celebrations have been postponed in the wake of the Covid-19 pandemic. The celebrations Continue Reading
Saudi Arabia To Cut Oil Prices As Demand Fears Grow
Saudi Arabia has cut its official selling prices for crude oil in the latest sign that demand recovery is stumbling, Bloomberg reports , adding that this is the first time Continue Reading
China Looks To Build Espionage Hub In Iran Under 25-Year Deal
The next phase of the 25-year deal between China and Iran will focus on a large-scale roll-out of electronic espionage and warfare capabilities focussed around the port of Chabahar and Continue Reading
Fire Erupts Again On Oil Tanker Off Sri Lanka
A new fire has erupted on the fully loaded oil tanker offshore Sri Lanka, due to extreme temperatures and high winds, the Sri Lanka Navy said on Monday, days after Continue Reading
Colombia’s Oil Industry Is Showing Signs Of Recovery
While the August 2020 global rig count remains significantly lower than for the same period last year, because of oil’s protracted price slump, Colombia’s economically crucial petroleum industry appears to Continue Reading
Big Oil Sees Major Potential In Suriname
Suriname is one of Latin America’s poorest countries. Up until July 2020, the former Dutch colony was mired in a political crisis that emerged from the hotly contested May parliamentary Continue Reading
Trump again raises idea of decoupling economy from China
WASHINGTON (Reuters) – With the U.S. election approaching, President Donald Trump on Monday again raised the idea of separating the U.S. and Chinese economies, also known as decoupling, suggesting the Continue Reading
China To Fast-Track Adoption Of Hydrogen Cars
China is going a step further in its generous support for hydrogen cars in the form of a package of policies aimed at improving the hydrogen fuel cell car supply Continue Reading
China’s soybean imports at highest ever for August as pig herd recovers
China’s soybeans import were the highest on record for the month of August, according to customs data, as the country’s pig herd continues to recover from the African swine fever Continue Reading
Trump Vows to Sharply Scale Back U.S.-China Economic Ties
President Donald Trump said he intends to curb the U.S. economic relationship with China, contrasting himself with Joe Biden by threatening to punish any American companies that create jobs overseas Continue Reading
Hopes fading for coronavirus deal as Congress returns
At least there won’t be a government shutdown. But as lawmakers straggle back to Washington for an abbreviated preelection session, hopes are dimming for another coronavirus relief bill — or Continue Reading
With Washington Deadlocked on Aid, States Face Dire Fiscal Crises
Alaska chopped resources for public broadcasting. New York City gutted a nascent composting program that could have kept tons of food waste out of landfills. New Jersey postponed property-tax relief payments. Prisoners in Florida Continue Reading
Exxon downsizes global empire as Wall Street worries about dividend
Ill-timed bets on rising demand have Exxon Mobil Corp facing a shortfall of about $48 billion through 2021, according to a Reuters tally and Wall Street estimates, a situation that Continue Reading
U.S. shale producers race for federal permits ahead of presidential election
Oil producers in the top U.S. shale fields are stockpiling drilling permits on federal land ahead of the November U.S. presidential election, concerned that a win by Democratic candidate Joe Continue Reading
California Power Crisis Set to Worsen as PG&E Warns of Outages
California’s electricity crisis is threatening to deepen as a heat wave gives way to wind storms, prompting the state’s largest utility to warn it may cut power to more than Continue Reading
Vast Grid Damage Will Leave Laura Victims in Dark for Weeks
Parts of Louisiana will be without power for weeks after Hurricane Laura caused “catastrophic” damage to the region’s grid, mangling steel transmission towers and snapping utilities poles as if they Continue Reading
The One Big Problem With Green Hydrogen
From a rarely mentioned, modest member of the renewable energy family to a headline-hogging clickbait, hydrogen has quickly turned from a prop to a star. There is a good reason Continue Reading
No Nord Stream 2? No problem for Germany, economists say
Abandoning the nearly complete Nord Stream 2 gas pipeline from Russia to Germany could create a legal mess and nudge up energy costs for European households but Germany would cope Continue Reading
Coronavirus: Rise in UK cases a great concern, Van Tam says
People need to “start taking this very seriously again” – Prof Jonathan Van Tam Media captionPeople need to “start taking this very seriously again” – Prof Jonathan Van Tam The Continue Reading
Conflict Between Armenia And Azerbaijan Threatens Europe’s Energy Security
On 12 July 2020, Armenia’s military shelled the village of Aghdam in Azerbaijan’s Tovuz district in the northwest of the country. The forces of Azerbaijan responded, attacking Armenian military structures, Continue Reading
The Complete Breakdown Of Russian Output Cuts
The OPEC+ deal, concluded in April amid falling global demand, may lead to a double-digit decline in Russian crude oil production for the first time in more than 25 years. Continue Reading
Russia Says It Complied Nearly 100% With OPEC+ Oil Deal
Russia complied nearly 100 percent with its share of oil production cuts in August as per the OPEC+ deal, Russian Energy Minister Alexander Novak said on Monday. Independent assessments about Continue Reading
German divisions on Nord Stream 2 laid bare as regional leader rejects calls to halt project
German politicians are divided on whether action on the almost complete Nord Stream 2 gas pipeline should be considered in response to the poisoning of Russian opposition politician Alexei Navalny. Continue Reading
Lower throughput expected at Russian refineries in Sept
London — Receive daily email alerts, subscriber notes & personalize your experience. Register Now Domestic deliveries of crude oil to Russian refineries are set at 19.155 million mt in September, Continue Reading
Audi partnering with Climeworks on CO2 direct air capture and storage
The Swiss company Climeworks is building the world’s largest direct air capture (DAC) and storage facility for converting atmospheric CO 2 to rock in Iceland. Audi is partnering with the Continue Reading
Oil Extends Drop After Saudi Price Cuts Underscore Demand Fall
Oil extended its retreat below $40 a barrel after Saudi Arabia cut pricing for October crude sales, as demand struggles to fully recover from the coronavirus outbreak. Futures in New York Continue Reading
Extreme Heat Made August the Fourth-Warmest on Record
The sun obscured by smoke from wildfires in Sonoma County, California, on Aug. 22, 2020. August 2020 will go down as the fourth-warmest on record worldwide, with above average summertime Continue Reading
Study: 2/3 of aviation climate impact due to emissions other than CO2
Aviation accounts for 3.5% of the human-made climate impact; two-thirds of this impact are caused by emissions other than CO 2 , according to a new study by researchers in Continue Reading
Emissions from airplanes nearly doubled in two decades
Five months ago, as COVID-19 cases were rising for the first time across the United States and the economy was taking a long walk off a short pier, congressional Democrats Continue Reading
Turkey’s Erdogan says East Med is test of EU’s sincerity
President Tayyip Erdogan told European Council President Charles Michel on Sunday the EU’s stance towards the East Mediterranean would be a test of its sincerity, calling on it to take Continue Reading
Security operation kicks off in Iraq’s oil hub
Iraqi security forces are fanning out across Basra province after months of violence, including assassinations of protesters and civil society activists and from tribal and business disputes. The operation was Continue Reading
Saudi Oil Volumes to US Could Stay Low
Here are some of the past week’s most popular downstream-related articles on Rigzone. Less crude oil produced in Saudi Arabia appears to be reaching the United States, and the trend Continue Reading
Iran reports highest daily coronavirus cases in past 10 days
Iran’s health ministry on Monday reported 2,152 new coronavirus cases in the past 24 hours, the highest daily increase in 10 days, bringing the country’s nationwide tally of infections to Continue Reading