EIA Sees Global Oil Market Balancing By End-2021
The OPEC+ production cuts and curtailments in the United States are set to help global inventories to continue drawing down for the rest of the year and most of next Continue Reading
Everything Points To More Natural Gas Demand This Decade
Natural gas has often been vilified as just another fossil fuel contributing to the climate crisis. While gas-fired power generation and the natural gas value chain do emit greenhouse gases, Continue Reading
Big Oil May Need To Shed $111 Billion In Assets In Clean Energy Push
The companies in the study – ExxonMobil, Chevron, ConocoPhillips, BP, Shell, Total, Eni, and Equinor – may have to divest combined resources of up to 68 billion barrels of oil Continue Reading
Despite Recent Commitments, Big Oil Still Behind On Climate Change
As most Big Oil majors have recently made commitments to reduce their carbon footprint and help tackle climate change more actively. According to a new report from anti-oil advocacy Oil Continue Reading
World on track to overshoot warming limit without massive investments
The world must combine COVID-19 recovery packages with massive investments in renewable energy and low-carbon infrastructure or it will fail to meet a global warming limit target, a report by Continue Reading
Trading Exec Conveys Ominous Forecast for OPEC+
“We do not need the extra oil,” said the head of commodities trader Mercuria Energy Group. (Bloomberg) — Global oil markets won’t be able to absorb planned production increases by Continue Reading
Mercuria CEO Says Market Can’t Handle OPEC Production Increase
Global oil markets won’t be able to absorb planned production increases by OPEC+ members as demand remains weaker than expected, said the head of commodities trader Mercuria Energy Group.Oil stockpiles have Continue Reading
New 60-day sanctions waiver reflects ongoing U.S.-Iraq tension
When Mustafa al-Kadhimi took office, the U.S. granted Iraq a relatively long 120-day Iran sanctions waiver. That diplomatic honeymoon could be ending. Iraqi Prime Minister Mustafa al-Kadhimi and his delegation Continue Reading
Return of Libyan oil to begin; tanker set to load from Marsa el-Hariga
The return of Libya’s oil to the market is partially underway as a tanker has reached the eastern port of Marsa el-Hariga to load 1 million barrels of oil from Continue Reading
Libya NOC to Reopen Third Oil Port
Libya’s state oil company reopened another port, the third to resume operation in less than a week, as a political truce takes hold. (Bloomberg) — Libya’s state oil company reopened Continue Reading