Big Oil just isn’t as big as it once was
A dozen years ago, ExxonMobil was the bluest of blue-chip companies. Raking in record-breaking profit, it spent every quarter of 2008 as the world’s most valuable publicly traded company. Not Continue Reading
Investment Giants Urge Texas to End Most Natural Gas Flaring
Investors managing more than $2 trillion are calling on Texas regulators to ban the routine burning of natural gas from shale fields, arguing that the energy industry hasn’t moved quickly Continue Reading
Utilities Look to Green Hydrogen to Cut Carbon Emissions
U.S. utilities are increasingly exploring the use of what is called green hydrogen made from wind and solar energy to reduce emissions from power plants and pipelines. The early investments by Continue Reading
TC Energy reaffirms Keystone XL commitment after permit pulled
The nascent recovery in industrial gas demand is stumbling in the wake of Hurricane Laura amid a recent slowdown in operations at refineries and chemicals facilities across the US South Continue Reading
Assessment of US CAFE fuel economy standards finds big savings on fuel and emissions since inception
In one of the first comprehensive assessments of the fuel economy standards in the United States, researchers from Princeton University and the University of Tennessee found that, over their 40-year Continue Reading
Thermal Energy Partners and Schlumberger New Energy to new geothermal project development company
Thermal Energy Partners (TEP), a developer of geothermal energy projects, and Schlumberger New Energy, a new Schlumberger business, entered into an agreement to create GeoFrame Energy, a geothermal project development Continue Reading
Oil Prices; Covid: Russia Sees Economy, Oil Recovering on Vaccine –
Russia sees oil prices averaging $50 to $55 a barrel in 2021 as the development of Covid-19 vaccines spurs an economic recovery, said Energy Minster Alexander Novak. That would be an Continue Reading
EU Approves Biggest Green Stimulus in History With $572 Billion Plan – Bloomberg
European governments approved the most ambitious climate change plan to date, agreeing to pour more than 500 billion euros ($572 billion) into everything from electric cars to renewable energy and Continue Reading
Too Much Green Hydrogen in Europe Could Add Cost for Decades
Producing hydrogen from renewable power only could drive up its price over the coming decades as the gas becomes the low-carbon fuel of choice for the European Union. As the Continue Reading
Oil Prices for Sep. 04, 2020: Brent Crude, WTI
Oil erased earlier losses as the dollar’s decline makes commodities more attractive, but crude was still headed for a weekly drop over demand concerns. Futures in New York rose 0.8% while Continue Reading
Oil Falls With Stronger Dollar and Oversupply Fears Looming
Oil dipped to its lowest level in nearly a month with a stronger dollar, looming extra supplies from Iraq and depressed demand all contributing to the bearish sentiment. U.S. benchmark crude Continue Reading
What Explains The Sudden Drop In Oil Prices?
Oil prices dropped on Thursday morning, extending losses from Wednesday’s close to the lowest levels in more than a month, after U.S. data showed gasoline demand is faltering despite major Continue Reading
Covid-19 Pandemic Ravages World’s Largest Developing Economies
From India to Mexico and Brazil, the world’s biggest developing countries are witnessing some of the steepest economic contractions on record, throwing tens of millions out of work and turning Continue Reading
The Post-COVID ‘Great Reset’ Won’t Be Fueled By Renewables
It seems like a reset of an economy should work like a reset of your computer: Turn it off and turn it back on again; most problems should be fixed. Continue Reading
Ammonia: A Jet Fuel For The Future
The aviation industry is responsible for 2 percent of global carbon dioxide emissions, twelve percent of emissions from transport, and is one of the most carbon-intensive activities any individual can Continue Reading
What Are Anti-Solar Panels?
Solar panels have been hailed as one of the most important energy technologies of our time for their ability to theoretically produce infinite energy. But solar panels only work during Continue Reading
Lifetime carbon emissions for EVs is much lower than previously suggested: Study highlights errors
Lifetime carbon emissions of electric cars are much lower than previously suggested, according to a new study from the Eindhoven University of Technology. First reported by Der Spiegel , the Continue Reading
Cyprus Makes A Major Bet On LNG
The discovery of Cyprus’ first gas field, offshore in the Eastern Mediterranean, was reason for celebration in December 2011. Rising tensions with Turkey and the Covid-19 pandemic, however, have slowed Continue Reading
Iraq moves toward restructuring oil sector with INOC law revisions
Cabinet and Oil Ministry legal teams have proposed amendments to the 2018 law to re-constitute the Iraqi National Oil Company, after Iraq’s highest court deemed many articles unconstitutional. A worker Continue Reading
US sanctions UAE, Chinese firms for involvement in Iranian petchem, oil sales
The US government on Sept. 3 sanctioned 11 entities based in Iran, the UAE and China for continuing to facilitate sales of Iranian petrochemical and oil products. Receive daily email Continue Reading
IRAQ DATA: August crude oil exports show it may be close to meet OPEC+ cuts
Iraq’s oil exports slipped to a five-year low in August, indicating its compliance with OPEC+ production cuts may be improving. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Iran’s coronavirus death toll rises above 22,000 – health ministry
Iran’s death toll from the novel coronavirus rose by 118 to 22,044 health ministry spokeswoman told state TV on Friday, with the total number of identified cases spiking to 382,772 Continue Reading
Iraq Eyes OPEC+ Extension Request
Iraq said it may seek a two month extension to implement the extra production cuts it’s carrying as part of the OPEC+ deal. (Bloomberg) — Iraq said it may seek Continue Reading
Oil Tanker Off Venezuela at Risk of Sinking
Venezuela reportedly is finding it difficult to secure a vessel on which to empty an oil tanker at risk of sinking off its coast because of U.S. sanctions. (Bloomberg) — Continue Reading
IOC chartered fully laden VLCC still on fire; eight ships in salvage operations: Sri Lankan navy
The fully laden Indian Oil Corp., or IOC, chartered super tanker is still on fire, and eight ships and tugs are trying to salvage the cargo and prevent an oil Continue Reading
Mexico Could Be Forced To Cut Oil Production Target For 2021
Mexico will likely cut its crude oil production targets for next year, according to Bloomberg, citing a ruling party lawmaker in Mexico. The shift in strategy signals that Mexico’s state-run Continue Reading
U.S. weekly jobless claims below one million; but labor market recovery ebbing
The number of Americans filing new claims for unemployment benefits fell below 1 million last week for the second time since the COVID-19 pandemic started in the United States, but Continue Reading
California Tries to Avert More Blackouts With Heat Roaring Back
California asked residents to dial back their air conditioners this holiday weekend as the state tries to avoid a repeat of power shortages that weeks ago triggered the first rolling Continue Reading
US trade deficit surges in July to highest in 12 years
The U.S. trade deficit surged in July to $63.6 billion, the highest level in 12 years, as imports jumped by a record amount. The Commerce Department reported that the July Continue Reading
Its Electric Grid Under Strain, California Turns to Batteries
Last month as a heat wave slammed California, state regulators sent an email to a group of energy executives pleading for help. “Please consider this an urgent inquiry on behalf Continue Reading
Canadian Oil Prices Rise On Pipeline Shutdown
The Canadian heavy oil benchmark rose on Wednesday after a pipeline carrying diluent necessary for oil sands production was shut down following a leak over the weekend, affecting production at Continue Reading
US ELECTIONS: Trump, Biden race holds big oil policy impacts for shale, sanctions
Note: This is the first in a series about the impact of the US elections on key energy commodities. Similar deep dives into LNG, natural gas and the energy transition Continue Reading
US Gulf of Mexico operators slowly continue to restore oil, gas output from storm shut-ins
US Gulf of Mexico oil and gas operators continue to restore oil and natural gas output, albeit slowly, from platforms temporarily brought offline prior to Hurricane Laura which slammed the Continue Reading
US oil, gas rig count rises by three to 285 heading into last trimester of 2020
The US oil and natural gas rig count rose by three on the week to 285, rig data provider Enverus said Sept. 3, as the final trimester of the year Continue Reading
US Labor Day travel seen subdued as summer ends on a quiet note: AAA
Travel over the long US Labor Day weekend is expected to be very different than in previous years, as the coronavirus pandemic continues to negatively impact plans for the weekend, Continue Reading
U.S. job growth seen slowing in August, unemployment rate falling below 10%
U.S. job growth likely slowed further in August as financial assistance from the government ran out, threatening the economy’s recovery from the COVID-19 recession. The Labor Department’s closely watched employment Continue Reading
Bill Gates Backed Battery Maker Goes Public In $3.3 Billion Deal
QuantumScape, a 10-year old battery company backed by Volkswagen Group, is looking to go public through a reverse-merger with SPAC Kensington Capital Corp. The San-Jose California based battery company is Continue Reading
Inside Clean Energy: Illinois Faces (Another) Nuclear Power Standoff
Illinois is up against what one observer calls a “nuclear hostage crisis”: The energy company Exelon says it will close two struggling nuclear power plants unless the state provides subsidies. Continue Reading
EU eyeing new sanctions on Russia over Navalny case
The European Union will likely impose new sanctions on Moscow over the poisoning of Russian opposition leader Alexei Navalny, but not straight away to give time to uncover the culprits, Continue Reading
Slammed by virus, France unveils huge economic rescue plan
Facing resurgent virus infections, France’s government is unveiling details Thursday of a 100 billion-euro ($118 billion) recovery plan aimed at creating jobs, saving struggling businesses and pulling the country out Continue Reading
Merkel faces calls to scrap Nord Stream 2 after Navalny poisoning
Angela Merkel is facing intense pressure to scrap the Nord Stream 2 gas pipeline project, which will transport gas from Russia to Germany, to punish Moscow over the poisoning of Continue Reading
Rosneft Says It Is Not Supplying Oil Products To North Korea
Russia’s largest oil producer, state-controlled Rosneft, said on Thursday in response to a media report that it does not ship petroleum products to North Korea and does not do any Continue Reading
German August EV sales at record 13% share, could reach 250,000 for 2020
Sales of electric vehicles in Germany reached a record 13.2% market share in August and could hit 250,000 in total this year after the government boosted cash and other incentives, Continue Reading
New EV market share in Europe hits 7.2% in Q2 2020, up from 2.4% in same period last year
In the second quarter of 2020, the market share of electrically-chargeable vehicles increased to 7.2% of total EU car sales, compared to a 2.4% share during the same period last Continue Reading
Crude oil futures consolidate after overnight decline on weak demand outlook
Crude oil futures were rangebound during mid-morning trade Sept. 3 as the market clawed back some overnight losses, led by waning sentiment in a highly uncertain macroeconomic environment amid a Continue Reading
Oil prices at one-month low on demand worries
Oil prices extended losses on Thursday, falling to their lowest point since early August, as worries about weaker U.S. gasoline demand and a sluggish economic recovery from the COVID-19 pandemic Continue Reading
Oil Prices Hit Hard By Lower Refinery Runs
Oil prices took a tumble on Wednesday post-EIA report, despite a favorable crude inventory report that showed oil inventories in the United States had shrunk by nearly ten million barrels. Continue Reading
The Difference Between Green Energy And ‘Greenwashed’ Energy
For all the recent rhetoric about the impending global clean energy transition, make no mistake: the world still runs on fossil fuels. The energy mix may be changing, with COVID-19 Continue Reading
Climate Change: Arctic Fires in 2020 Released Record Carbon
The Arctic has experienced the worst fire season on record for the second year in a row, with giant wildfires sending over one third more carbon dioxide into the atmosphere Continue Reading
OPEC Production Rises By 950,000 Bpd In August
OPEC produced more oil in August than it did in July as the cartel continued to relax its production cuts, a Reuters survey has revealed, with recovering demand also stimulating Continue Reading