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
How Saudi Arabia Put OPEC’s Future At Stake
OPEC’s 60 th birthday should have been reason for celebration, but its largest producer Saudi Arabia is increasingly putting its own interests before the cartel’s objectives and has put the Continue Reading
Africa Is The Undeniable Final Frontier For Oil
The pandemic has been devastating for the oil industry globally. Explorers suspended drilling, producers idled wells, Big Oil majors put up assets for sale. But the world continues to need Continue Reading
How International Banks Pushed Venezuela To The Brink Of Bankruptcy
Venezuela sits on top of the world’s largest proven oil reserve. The country is home to what is estimated to be a whopping 296.5 billion barrels, which accounts for a Continue Reading
Mexico May Delay Energy Reform
Mexico could delay its planned energy sector reform until next year after President Andres Manuel Lopez Obrador asked regulators this week to help prop up state oil major Pemex, Reuters Continue Reading
CNOOC to resume deepwater exploration in Mexico after pandemic pause
Highlights CNOOC expects almost 500 million boe of prospective resources Well located less than five miles away from the US maritime border Mexico City — China National Offshore Oil Corporation Continue Reading
California to Ban New Gasoline Cars by 2035, a First in U.S.
California will phase out sales of new, gasoline-powered cars by 2035 as part of its fight against climate change, Governor Gavin Newsom announced — the first state to set an Continue Reading
California to Ban Sales of New Gas-Powered Cars Starting in 2035
Global satellite data indicate wildfires are becoming bigger and more intense. WSJ talks with NASA’s Doug Morton to understand the science behind what’s making the planet more flammable and making Continue Reading
Natural Gas Prices Explode On Stronger Demand
Rallying from a seven-week low in the prior session, natural gas futures rose more than 15% on Wednesday afternoon as the demand outlook for natural gas improves. At 1:16 p.m. Continue Reading
Gulf of Mexico oil and gas operations returning to normal after Tropical Storm Beta
Oil and gas operations in the US Gulf of Mexico are returning to normal following the passing of Tropical Storm Beta and Hurricane Sally. Receive daily email alerts, subscriber notes Continue Reading
Dallas Fed survey finds two-thirds of upstream execs think US oil output has peaked
Two-thirds of US oil and natural gas executives surveyed by the Federal Reserve Bank of Dallas in September believe US oil production has peaked. Receive daily email alerts, subscriber notes Continue Reading
US Hampton Roads coal exports fall 26.8% on month in August
Coal exports out of the terminals in the Hampton Roads region in Virginia were at 1.68 million st in August, down 26.8% from July and also 42.8% lower than the Continue Reading
Monthly changes in key transportation indexes
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Houston study: More contagious coronavirus strain now dominates
The first study to analyze the structure of the novel coronavirus from two waves of infection in a major city found that a more contagious strain dominates recent samples, researchers Continue Reading
Inmotive introduces efficient two-speed transmission for EVs
Inmotive, a Canadian-based automotive supplier, has launched its patented Ingear two-speed transmission. Invented and designed for the next generation of electric vehicles, the Ingear features a simple and durable design Continue Reading
Shell to cut up to 40% from oil and gas production to prepare for energy transition
Royal Dutch Shell is looking to slash up to 40 per cent off the cost of producing oil and gas in a major drive to save cash so it can Continue Reading
Europe, Shunning New Lockdowns, Fights Resurgent Coronavirus With Local Restrictions
The Feito Río bar in Madrid was still recovering from this spring’s lockdown when city authorities, reacting to a resurgence of Covid-19 infections, this week imposed a 10 p.m. curfew Continue Reading
Crude trades lower as US stock build, coronavirus infections weigh
Crude oil futures were lower in mid-morning trade in Asia Sept. 23 as a build-in US inventories and concerns over rising coronavirus infections in Europe weighed on the demand outlook. Continue Reading
Oil Resumes Drop With Demand Uncertainty Keeping Investors Wary
Oil edged higher as positive European manufacturing data and rising equity markets gave some respite to recent demand worries. Futures in New York for November delivery rose to over $40 a Continue Reading
Oil weakens after unexpected U.S. crude inventory rise
Oil edged lower on Wednesday trading below $42 a barrel, pressured by a report that U.S. crude inventories unexpectedly rose and as growing numbers of coronavirus cases around the world Continue Reading
Oil Prices Get Bump from Equities Rebound
Oil recovered from the steepest one-day loss in almost two weeks as equities advanced, though further gains may be limited by a resurgence in coronavirus cases and new lockdown measures. Continue Reading
Oil Market Flies Blind as Covid-19 Clouds Demand Outlook
Predicting oil demand has rarely been more challenging, buffeting prices and muddying the outlook for traders, investors and energy producers. Energy analysts are mapping out the course of the coronavirus Continue Reading
US shale production can reach new highs beyond 13 million b/d, but needs $60/b: Rystad
US shale oil production can reach new highs beyond the 13 million b/d mark achieved in late 2019, although it will take oil prices of around $60/b for that to Continue Reading
New cases of coronavirus remain high globally, economic recovery on track, impairment in the energy space lessened
This Spotlight from S&P Global Platts Analytics was first published September 16. Receive daily email alerts, subscriber notes & personalize your experience. Register Now While new cases of coronavirus remain Continue Reading
Will Jet Fuel Demand Ever Recover?
Airlines were banking on summer travel to offset some of the steep losses from grounded flights in the second quarter. Although everyone knew that air travel would take the longest Continue Reading
Climate Disruption Is Now Locked In. The Next Moves Will Be Crucial.
America is now under siege by climate change in ways that scientists have warned about for years. But there is a second part to their admonition: Decades of growing crisis Continue Reading
Why Russia Is Pushing Unneeded Nuclear Power Plants On Egypt
In recent years, Russia and China have been facing off to spread their nuclear power dominion to a new, huge, and vastly untapped market: Africa. The two nuclear power giants Continue Reading
Libya’s Oil Production Set To Rise To 260,000 Bpd Next Week
Libya’s National Oil Corporation (NOC) sees oil production rising to around 260,000 barrels per day (bpd) next week, up from some 100,000 bpd before the blockade of its oil ports Continue Reading
‘Important’ gas project to be revealed as six east Med states launch forum: Egyptian minister
An “important” regional natural gas project will be revealed soon, Egypt’s energy minister said Sept. 22, as six east Mediterranean states and the Palestinian National Authority launched a Cairo-based gas Continue Reading
Iranian Tanker Loads Venezuelan Crude
After defying U.S. sanctions by shipping a cargo of oil condensate to Venezuela just last week, Iran is using the same ship to help the Latin American country export its Continue Reading
Six Countries Form Mediterranean Gas Group
Greece, Italy, Egypt, Israel and two other countries will form a permanent organization to promote co-operation over natural gas in the Eastern Mediterranean. Turkey, which has raised tensions by exploring Continue Reading
India’s Clean Air Days May Be Numbered as Farmers Clear Fields
India’s recent clean air and blue skies, an unintended consequence of Covid-19 lockdowns, may soon be ending as seasonal crop fires start, one of the main culprits behind the nation’s chronic Continue Reading
Colombia’s Security Crisis Deals Another Blow To Its Oil Industry
Violence has broken out yet again in strife-torn Colombia after a law student was killed by police in Bogota two weeks ago for allegedly breaching coronavirus social distancing restrictions. Those Continue Reading
Venezuela and Iran Buck U.S. Sanctions Again to Export Crude
After defying U.S. sanctions by shipping its first cargo of oil to Venezuela just last week, Iran is using the same ship to help the Latin American country export crude. The Continue Reading
How a Fortunate Few Airlines Profit in a Pandemic: Lots of Cargo
The only major airlines making money these days are busy flying cargo, not passengers. Of the world’s 30 largest airlines by revenue, just four reported profits for the April-June quarter, Continue Reading
China pledges to be ‘carbon-neutral’ by 2060
China, the world’s biggest producer of greenhouse gases, has said it will cut its carbon dioxide emissions to nearly zero by 2060, in a surprise move announced at the virtual Continue Reading
China, in Pointed Message to U.S., Tightens Its Climate Targets
United Nation, via Reuters President Xi Jinping of China pledged on Tuesday that his country, the world’s top producer of greenhouse gases, would adopt much stronger climate targets and achieve Continue Reading
UN General Assembly: US-China tensions flare over coronavirus
Trump, Xi Jinping and Guterres address the UN General Assembly Tensions between the US and China came to the fore of the annual UN General Assembly in New York, with Continue Reading
China’s Oil Buying Spree Is Coming To An End
In a fresh sign that China is slowing down its crude oil buying spree, Beijing appears to have reduced stockpiling for a second consecutive month in August, suggesting that China’s Continue Reading
Chinese Oil Giant Could Buy Exxon’s North Sea Assets
Sinopec and a private equity-backed company are among some half a dozen candidates to acquire Exxon’s North Sea assets that the supermajor put up for sale earlier this year. Kuwait Continue Reading
China Promises To Do More To Tackle Climate Change
China is ready to do more to tackle climate change, the country’s chief climate advisor said, as quoted by Reuters, and plans to deliver this message to the UN before Continue Reading