Iraq Looks To Be Exempted From OPEC+ Cuts In Q1 2021
Iraq has asked OPEC to be exempted from oil export cuts in the first quarter of 2021, the oil minister of OPEC’s second-largest producer and the least compliant member of Continue Reading
Turkey Says It’s Open To Dialogue With Greece To End Drilling Dispute
Turkey said on Tuesday that it was open to dialogue with its neighbor Greece to end the dispute over the oil and gas resources in the eastern Mediterranean and the Continue Reading
Iraq wants to be exempt from OPEC export cuts in Q1 2021: oil minister
Highlights OPEC+ cuts apply to output, not exports Country discussed exemptions in three meetings with OPEC Iraq is among worst offenders in quota busting this year Dubai — Iraq is Continue Reading
After Hifter’s ouster in Libya, Tripoli government descends into infighting
Less than three months after pro-government forces pushed a renegade warlord out of the Libyan capital of Tripoli, infighting within the government now threatens to unravel it and plunge the country into Continue Reading
Iran Ramps Up Production At Supergiant South Pars Gas Field
Reaching natural gas production of one billion cubic meters per day (bcm/d) has been one of the three core hydrocarbons resource strategies of Iran since the Islamic Republic began to Continue Reading
Exclusive: Brazil Amazon fires likely worst in 10 years, August data incomplete, government researcher says
The official August data on the number of fires in Brazil’s Amazon needs to be corrected and will likely show an increase over last year, meaning that blazes surged to Continue Reading
Argentina’s YPF to redeploy rigs in Vaca Muerta on export potential: governor
Argentina’s state-backed energy company YPF plans to redeploy 46 rigs in the Vaca Muerta region over the next six months, helping to revive oil and natural gas output from the Continue Reading
Exxon Faces Greater Demands from Papua New Guinea
Papua New Guinea is demanding a greater share of the country’s resource wealth, stepping up its battle with companies including Exxon Mobil Corp. and Barrick Gold Corp. Prime Minister James Continue Reading
China Said to Plan Broad Chip Sector Support to Fight Trump
China is planning a sweeping set of new government policies to develop its domestic semiconductor industry and counter Trump administration restrictions, conferring the same kind of priority on the effort Continue Reading
Indonesia’s Virus Cases Jump by a Record as Fatalities Also Rise
Indonesia posted a record number of new coronavirus cases on Thursday, since hitting an all-time high less than a week ago. There were 3,622 fresh cases reported over the past Continue Reading
CHINA DATA: Independent refineries’ Aug crude imports fall 10% from record high in Jul
Crude and bitumen blend imports in August for China’s independent refineries fell 9.9% to 17.85 million mt, or 4.22 million b/d, from a record high in July, and the downtrend Continue Reading
China Oil Buying Binge Set to Slow Down
China’s record haul of crude is poised to end as state-issued allowances for imports dwindle. (Bloomberg) — China’s record haul of crude is poised to end as state-issued allowances for Continue Reading
U.S. private payrolls undershoot expectations; labor market recovery losing speed
U.S. private employers hired fewer workers than expected for a second straight month in August, suggesting that the labor market recovery was slowing as the COVID-19 pandemic persists and government Continue Reading
United Airlines to cut 16,370 workers, many more going without pay
CHICAGO (Reuters) – United Airlines ( UAL.O ) said on Wednesday it is preparing to furlough 16,370 workers when federal aid expires on Oct. 1 as the coronavirus pandemic continues Continue Reading
Survey: US companies added just 428,000 jobs last month
U.S. companies added jobs at a modest pace last month, a private survey found, a sign that while hiring continues, it is only soaking up a relatively small proportion of Continue Reading
Budget deficit to hit record $3.3T due to virus, recession
The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than Continue Reading
Drilling, mines, other projects hastened by Trump order
The Trump administration is seeking to fast track environmental reviews of dozens of major energy and infrastructure projects during the COVID-19 pandemic, including oil and gas drilling, hazardous fuel pipelines, Continue Reading
U.S. Debt Is Set to Exceed Size of the Economy Next Year, a First Since World War II
Economists have long used letters of the alphabet like V and U to describe economic recoveries. But the coronavirus downturn is so different from past recessions that economists are coming Continue Reading
3 Ways Artificial Intelligence Is Transforming The Energy Industry
Back in 2017, Bill Gates penned a poignant online essay to all graduating college students around the world whereby he tapped artificial intelligence (AI), clean energy, and biosciences as the Continue Reading
U.S. Jet Fuel Demand Recovers Faster Than Expected
Jet fuel demand in the United States is recovering faster than in many other regional markets such as Europe and Asia minus China, the U.S. Energy Information Administration (EIA) said Continue Reading
Widespread power outages among obstacles to speedy US Gulf Coast LNG recovery
Sempra Energy’s Cameron LNG terminal could be offline for an indefinite period based on reports from the operator and shipping officials about the continued lack of power and other services Continue Reading
US Gulf of Mexico operators continue to restore oil, gas output from storm shut-ins
US Gulf of Mexico upstream operators continued to restore oil and natural gas production Sept. 2 from shut-ins prior to Hurricane Laura lashing the prolific producing region last week, including Continue Reading
After California Blackouts, Another Heat Wave Set to Test Grid
Just weeks after a power shortage in California triggered the first rolling blackouts in 20 years, the state’s grid is poised for yet another test of its reliability. Excessive heat is Continue Reading
Trump’s Broken Coal Promises Could Cost Him 2020 Election Support
President Donald Trump spent more than $1 billion in taxpayer funds, rolled back environmental rules and tried to stop power plant closings to fulfill a vow he made to West Continue Reading
ADP says U.S. hiring picked up in August but still missed estimates
U.S. businesses stepped up hiring in August after a dismal July, but the 428,000 added to private payrolls fell well short of analyst estimates and reflected ongoing lethargy in the Continue Reading
Why No One Is Buying Up Shale Assets
Since the start of the year, 57 oil production and oilfield services companies have filed for Chapter 11 bankruptcy protection. Many more bankruptcies are on the way, all in the Continue Reading
BYD electric motor coaches selected for California purchasing contract; available to governmental entities outside CA
BYD announced that its participation in a California-wide purchasing contract will also allow US transit agencies to leverage California’s purchase power to buy US-built zero-emission BYD battery-electric motor coaches, made Continue Reading
ExxonMobil Unit Shuts Oil Sands Mine After Pipeline Spill
ExxonMobil’s Imperial Oil shut down its oil-sands mine after a spill from a pipeline that supplies diluent to the operation. (Bloomberg) — Exxon Mobil Corp.’s Imperial Oil shut down its Continue Reading
U.S. private payrolls miss expectations, point to slowing labor market recovery
U.S. private employers hired fewer workers than expected for a second straight month in August, suggesting that the labor market recovery was slowing as the COVID-19 pandemic drags and government Continue Reading
Is It Possible To Make Steel Without Fossil Fuels?
Steel is arguably the single most important resource when it comes to constructing infrastructure. From roads, to railways and the skeleton of most buildings, it is at the very heart Continue Reading
Russia Wants OPEC+ To React To Oil Demand Recovery
Russia will propose to OPEC+ to react to the recovery in global oil demand, which has now reached 90 percent of the levels seen before the pandemic, Russia’s Energy Minister Continue Reading
Calls mount for Germany to rethink Nord Stream 2 after Navalny poisoning
A European response that involves the Nord Stream 2 gas pipeline is needed against Russia after the poisoning of Kremlin critic Alexei Navalny with a Soviet-style Novichok nerve agent, some Continue Reading
Euro zone July retail sales much worse than expected
Euro zone retail sales defied expectations of a rise in July and fell against June despite the lifting of COVID-19-related restrictions on economies, with clothes and shoes leading the decline Continue Reading
Europe’s Rebound Loses Momentum With Italy, Spain Shrinking
The euro area’s recovery ran out of steam midway through the third quarter, with gauges of activity pointing to contractions in Italy and Spain. While manufacturing output rose markedly in August, Continue Reading
Europe May Tighten Pollution Rules Again in Zero-Emissions Bid
European Union governments are considering a plan to set an intermediate emissions-cut goal for 2040 in a bid to keep the bloc on track for climate neutrality, according to an 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
Crude oil futures climb on positive US economic data, stocks drawdown
Crude oil futures were higher during mid-morning Asian trade Sept. 2 as the US’ manufacturing data for August was stronger-than-expected and a private inventory report released late Sept. 1 showed Continue Reading
Oil Climbs Near $43 on Signs U.S. Crude Stockpiles Fell Further
Oil was trading near $43 a barrel in New York on signs U.S. crude stockpiles extended declines for a sixth week, easing a glut. The American Petroleum Institute reported crude inventories dropped by Continue Reading
Goldman Expects Oil To Reach $65 Next Year
Goldman Sachs expects Brent crude to reach $65 a barrel in the third quarter of 2021, although it could end the year lower, at $58 a barrel, according to Goldman Continue Reading
Oil Rallies After API Reports Large Draw In Crude, Gasoline Inventories
The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 6.360 million barrels for the week ending August 28. Analysts had predicted an inventory draw Continue Reading
The Real Reason The Oil Rally Has Fizzled Out
One of the themes that is emerging as we review investment candidates is the era of oil growth, which is at least going to take a substantial pause, if it Continue Reading
A Totally Green Electric Grid Will Dramatically Speed Up Climate Action
The perfectly green electricity grid sought by Joe Biden isn’t the end of the fight against global warming. It’s the beginning. Today, 40% of America’s electricity comes from carbon-free sources. Continue Reading
World Added More Solar, Wind Than Anything Else Last Year
For the first time ever, solar and wind made up the majority of the world’s new power generation — marking a seismic shift in how nations get their electricity. Solar additions Continue Reading
Kuwait Looks To Ease Dependence On Saudi Arabia With New Oil Development
Kuwait had already slipped into an economic contraction of 1.1 per cent the fourth quarter of 2019, over the same period in the previous year, before Saudi Arabia decided to Continue Reading
Iraq’s Crude Oil Exports Drop In August
Iraq’s crude oil exports fell in August compared to July, as OPEC’s second-largest producer is reducing supply in an attempt to comply with the OPEC+ production cut pact, which it Continue Reading
Iraq’s August oil exports lower on tighter OPEC+ compliance
Iraq’s oil exports, excluding those from the semi-autonomous Kurdish region, fell 6% in August from July, the oil ministry said Sept. 1, signaling tighter compliance with its OPEC+ quota. Not Continue Reading
US June Oil Production Rebounds
All of the oil (C + C) production data for the US states comes from the EIAʼs Petroleum Supply monthly PSM . After the production charts, an analysis of three Continue Reading
The Largest Oil Play Of The Decade? Interview With Daniel Jarvie
As we approach the climax of a potentially enormous Permian-style discovery in the opening of Namibia’s giant, deep Kavango Basin, internationally acclaimed geochemist Daniel Jarvie explains in an exclusive interview Continue Reading
Venezuela Faces The Real Possibility Oil Production Dropping To Zero
Venezuela once considered one of Latin America’s prosperous countries has plunged into the abyss. Years of economic mismanagement, cronyism and corruption have sparked a monumental economic collapse which saw the Continue Reading
Analysis: Sputtering Permian Basin gas production lifts Waha cash, forward prices
An early-summer rebound in Permian Basin gas production has definitively stalled out in recent weeks as drilling, well completions and rig counts across West Texas hit multiyear lows. Receive daily Continue Reading