European planemaker Airbus SE unveiled three designs it’s studying to build hydrogen-powered aircraft as it races to bring a zero-carbon passenger plane into service by 2035. The approaches include a turbofan jet Continue Reading
German airline Lufthansa, already bailed out by the government, says it will have to make more staff cuts and mothball more jumbo jets than originally planned because the outlook for Continue Reading
“The reorganization is in process and we want to make sure that our employees are informed first,” the Maersk spokesman said. Damco, which specializes in freight forwarding and logistics, employs Continue Reading
Oil and gas supermajor Shell is looking to slash as much as 40 percent of its upstream oil and gas operations as it is redesigning its business toward a greener Continue Reading
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Exxon Mobil Corp.’s U.K. North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the U.S. oil giant seeks to exit the aging region altogether, according Continue Reading
Airbus SE Chief Executive Officer Guillaume Faury stepped up his warning on forced job cuts at the European planemaker as a sharper-than-expected decline in travel leads carriers to push back Continue Reading
An electric Volkswagen ID.3 for the same price as a Golf. A Tesla Model 3 that costs as much as a BMW 3 Series. A Renault Zoe electric subcompact whose Continue Reading
Oil declined as Libya signaled the resumption of some crude exports while surging coronavirus cases cloud the outlook for demand. Futures in New York fell 2.2% to near $40 a barrel. Continue Reading
Oil futures were caught in a range during the mid-morning trade in Asia Sept. 21, even as Libya’s state-owned National Oil Corp. lifted the force majeure on oil fields and Continue Reading
The world’s first Very Large Containership fueled by LNG left the shipyard of Hyundai Samho Heavy Industries earlier this month to be delivered to Singapore’s Eastern Pacific Shipping, one of Continue Reading
While most of the market’s attention has been focused on how fast gasoline demand will recover, lower economic and manufacturing activity in all regions of the world has led to Continue Reading
U.S. deaths related to Covid-19 approached 200,000 and the nation’s new cases rose in line with a one-week average. Former FDA Commissioner Scott Gottlieb said he expects the U.S. to Continue Reading
The fuel that powers passenger planes is normally among the most expensive oil products, but in a sign of the times the coronavirus has turned it into a blending component Continue Reading
The collapse of OPEC member Venezuela’s economy and the oil industry that has long driven it are well-known. International sanctions and the sorry state of refineries and other facilities contribute Continue Reading
Oil Minister Ihsan Ismaael has given a deputy director general of the Basra Oil Company (BOC) the authorities to lead the country’s most important state-run oil company — part of Continue Reading
Egypt boosted its gas production by 12.4% on the year to a record 7.2 billion scf/d in the fiscal year 2019-20 (July-June) and is undertaking new exploration activities, the CEO Continue Reading
Russia said it welcomed a contested deal that would allow Libya to resume oil exports halted by a blockade at the start of the year, with revenue distributed across the Continue Reading
A member of the Libyan National Army stands on a military vehicle at one of their sites in west of Sirte, Libya Libyan commander Khalifa Haftar announced on Friday he Continue Reading
The world community should oppose the United States’ use of sanctions to impose its will as a “bully,” or expect to face sanctions itself, Iranian Foreign Minister Mohammad Javad Zarif Continue Reading
Much ink has been spilled about the downfall and dubious recovery of the United States shale oil sector. The West Texas Intermediate (WTI) crude benchmark’s dramatic rock bottom in April, Continue Reading
China has nearly exhausted its reserves of frozen pork, according to new estimates that underscore the supply shortfall in the world’s top protein market two years after the arrival of Continue Reading
Walmart Inc. said it’s targeting zero emissions from its global operations by 2040, a small fraction of its total, in the latest climate-focused step amid heightened calls from investors and Continue Reading
Minutes after stepping off his private jet in Braunschweig, northern Germany, at the start of this month, Elon Musk climbed behind the wheel of a brand new make-or-break electric car: Continue Reading
It has been a tough summer across much of the Gulf Coast, where storm after storm has taken aim and two hurricanes — Laura and Sally — have decimated homes Continue Reading
The Covid-19 pandemic has wrought one of the most significant disruptions the energy market has ever faced. A decidedly gloomy long-term future outlook due to rampant fossil fuel divestments, climate Continue Reading
The U.S. Department of the Interior is proposing a regulation that will not allow oil producers to avoid picking up their offshore well decommissioning tab when they go bankrupt, the Continue Reading
Highlights Shell evacuating Perdido platform, shuting in production Tropical Storm Beta expected to reach hurricane strength No threat to area refineries yet Houston The first evacuations and crude oil shut-ins Continue Reading
The oil industry’s search for carbon-free alternatives to fossil fuels has led to many interesting investment decisions over the years. Somewhere high on that list is nuclear fusion, the energy Continue Reading
It is less than two months since Donald Trump travelled to Texas to declare that the US energy industry, laid low by this year’s oil price crash, was back on Continue Reading
Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its Continue Reading
The European Union will unleash as many green bonds as the world issued last year, testing the level of investor interest in financing a shift toward cleaner economies. The bloc plans Continue Reading
The British government has set a goal to reach net zero emissions by 2050. Electrification of oil and gas platforms on the UK continental shelf (UKCS) should play an important Continue Reading
Sweden has an ambitious target of being fossil-free by 2045. As a part of the initiative, the Swedish Government announced on 11 September the introduction of a greenhouse gas (GHG) Continue Reading
Saudi Arabia’s warning to OPEC+ cheaters and short-sellers alike helped oil prices stage their biggest weekly rally since June. (Bloomberg) — Saudi Arabia’s warning to OPEC+ cheaters and short-sellers alike Continue Reading
Oil prices perked up this week, buoyed by both OPEC developments and Hurricane Sally. That is despite BP’s pessimistic 2020 edition of its annual outlook that suggests we have already Continue Reading
In spectacular fashion, crude oil traders went from discussing bearish factors such as storage containment issues to celebrating forecasts calling for supply shortages, in less than a week. U.S. West Continue Reading
Oil prices were set for a weekly gain early on Friday, capping a week of several days of gains that saw both benchmarks rebound to above $40 a barrel. As Continue Reading
Goldman Sachs is bullish on oil, expecting the market to be in a deficit of around 3 million barrels per day (bpd) by the fourth quarter and Brent Crude prices Continue Reading
1. BP sees oil demand already at a peak – BP (NYSE: BP) made major headlines this week when it released its latest energy outlook, which laid out three scenarios, Continue Reading
An argument is raging behind palace doors in Saudi Arabia: Now that the United Arab Emirates and Bahrain have forged ties with Israel , should the kingdom follow suit? Saudi Continue Reading
Libya: A New Twist to Haftar’s Power Play Turkey would like the world to think that the resignation of the eastern government this week signifies the weakening of General Haftar. Continue Reading
Libya’s National Oil Corporation (NOC) is conditioning lifting the force majeure on the country’s oil exports on the demilitarization of all oil facilities and export terminals, NOC’s chairman Mustafa Sanalla Continue Reading
Nationwide crude output increased in August, led by IOC-operated fields, as Iraq balances OPEC pledges against tough financial realities. Dhi Qar Oil Company workers at the Suba oil field on Continue Reading
Two rival groups in Libya — the UN-backed Government of National Accord and the self-styled Libyan National Army — have agreed to reopen key oil ports, signaling the possible restart Continue Reading
Libya’s state-owned National Oil Corp. reiterated on Sept. 18 that it will not lift force majeure on crude exports from the blockaded oil terminals unless these facilities are demilitarized. Receive Continue Reading
U.S. President Donald Trump’s administration says that on Saturday (2000 EDT/0000 GMT Sunday) all United Nations sanctions on Iran have to be restored and a conventional arms embargo on the Continue Reading
The Trump administration has increased criticism and pressure on Iran in recent days: accusing the country of planning assassinations of American diplomats, announcing hacking indictments, preparing unilateral sanctions and denouncing Continue Reading
Total SE CEO Patrick Pouyanné and Mozambican president Filipe Nyusi met to discuss an intensifying Islamic State-linked insurgency. Bloomberg) — Total SE Chief Executive Officer Patrick Pouyanné and Mozambican president Continue Reading
China’s commerce ministry on Saturday issued rules on its proposed list of “unreliable entities,” part of an intensifying rift with the United States, saying it will target foreign firms and Continue Reading
