Vitol Group, the world’s largest independent oil trader, expects global oil inventories to continue drawing down for the rest of the year, unlike its rivals and many analysts who see Continue Reading
There has been more than enough written about the woes of various segments of the oil industry and related industries so far this year. But there is one industry that Continue Reading
The OPEC+ coalition saw its overall compliance rate with the production cuts at around 101 percent in August, three sources in the group told Reuters on Wednesday, when OPEC+ panels Continue Reading
Protesters angry over the area’s crippling electricity shortages, set fire to tires on Thursday, Sept. 10, 2020 in Benghazi, Libya. Libya’s east-based parliament has convened an emergency meeting to address Continue Reading
Iraq is exporting more crude so far in September than it shipped last month, a sign that the country is falling further behind in efforts to comply with its OPEC+ Continue Reading
The Trump administration threatened Wednesday to impose an array of fresh sanctions to deter China and Russia from selling weapons to Iran after an arms embargo on Washington’s Middle East Continue Reading
Iraq’s Ministry of Oil and Ministry of Industry and Minerals held a series of meetings over the past week to kick-start the multi-billion dollar Nebras petrochemical plant development project, originally Continue Reading
Two and a half decades ago, Nick Steinsberger invented what is now the modern-day frack in the Barnett shale. Now, the petroleum engineer extraordinaire is tasked with proving up untold Continue Reading
The world’s third-largest oil importer, India, will be the biggest source of energy demand growth through 2050 in any scenario about government policies about the energy transition. However, India may Continue Reading
US sanctions have deterred all but Iranian tankers from delivering gasoline to fuel-starved Venezuela, and the Trump administration will keep up pressure on the global shipping industry to avoid the Continue Reading
Venezuela is preparing to ramp up its crude oil production using diluents imported from Iran, Reuters reports , citing unnamed sources and company documents. State-owned oil company PDVSA produced just Continue Reading
The world’s largest automotive market, China, is dropping considerations to have a firm deadline for banning the sales of new gasoline and diesel vehicles, according to policymakers advising the government Continue Reading
Although China continues to dominate the global lithium-ion battery supply chain in 2020, there are positive signs coming out of Europe helping it, alongside the UK, climb up the BloombergNEF Continue Reading
The rebound in U.S. retail sales slowed by more than expected in August as federal relief for jobless Americans and small businesses dried up and the pandemic continued to weigh Continue Reading
Joe Biden’s climate plan promises to put the U.S. on a path to 100% clean energy and net-zero carbon emissions “no later than 2050.” It also vows that greening the U.S. Continue Reading
There’s a chance water levels in the two largest man-made reservoirs in the United States could dip to critically low levels by 2025, jeopardizing the steady flow of Colorado River Continue Reading
John Hickman was filling out a coal production report about 2½ miles deep in a mountain when his foreman’s voice came over the intercom. “Stop mining,” the foreman instructed. “Bring Continue Reading
When Congress last pushed for comprehensive climate legislation a decade ago, much of corporate America was either neutral or hostile. In a sign of how much corporate attitudes have changed, Continue Reading
In the market for an abandoned cruise ship? Carnival Corp. — the parent company of nine cruise brands, including Princess, Costa, and Carnival — announced in a third-quarter earnings filing that Continue Reading
The United States’ nuclear sector is in trouble. And it has been for years now. While the United States remains the largest producer of nuclear energy in the world, producing Continue Reading
US ethanol production averaged 926,000 b/d for the week ended Sept. 11, a decrease of 15,000 b/d on the week and down 77,000 b/d year on year, data from the Continue Reading
General Motors announced that it will design, develop and manufacture a family of five interchangeable electric drive units and three motors, known collectively as “Ultium Drive.” GM said that Ultium Continue Reading
Houston — More than 540,000 electricity customers lost service across Alabama, Florida, Georgia and Mississippi after Hurricane Sally made landfall early Sept. 16, sapping power demand by 16.4% from forecast Continue Reading
US crude inventories declined in the week ended Sept. 14 as refinery demand rebounded following Hurricane Laura and imports flagged, US Energy Information Administration data showed Sept. 16. Commercial crude Continue Reading
More than a quarter of the U.S. Gulf of Mexico offshore oil and gas production remained shut on Wednesday by Hurricane Sally, which moved inland dumping heavy rains and cutting Continue Reading
U.S. consumer spending slowed in August, with a key retail sales gauge unexpectedly declining, as extended unemployment benefits were cut for millions of Americans, offering more evidence that the economic Continue Reading
The president of the European Union’s executive arm said Wednesday that the United Kingdom cannot unilaterally change the bilateral Brexit agreement without destroying global trust in the country. Insisting that Continue Reading
Germany tried to dissuade the United States from following through on its threat to impose additional sanctions on the Russia-led gas pipeline project Nord Stream 2 by telling the U.S. Continue Reading
Environmentalists around the world are having a field day this week as international media picks up on the oil market forecasts in the recently released BP Energy Outlook 2020. It Continue Reading
Crude oil futures rose during mid-morning trade in Asia Sept. 16 as sentiment was boosted by better-than-expected economic data from the US and China. At 10:41 am Singapore time (0300 Continue Reading
The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 9.517 million barrels for the week ending September 11. Analysts had predicted an inventory draw Continue Reading
Oil extended gains to near $39 a barrel in New York, buoyed by an industry report of a surprise drop in U.S. crude stockpiles and advances in other financial markets. Continue Reading
Oil prices rose on Tuesday afternoon, ahead of the weekly crude inventory data releases, but traders remain concerned about the pace of the recovery in global oil markets. After a Continue Reading
An interim government in eastern Libya resigned on Sunday amid street protests that erupted across the divided country over dire living conditions, officials said. Prime Minister Abdallah al-Thani submitted the resignation Continue Reading
The Arab Spring was the start of an ideological conflict between Turkey and the wealthy Arab Gulf nations. Turkish assertiveness is strengthened by an expanding economy and a brand of Continue Reading
Iran has raised oil production from the oilfields in its southwest it shares with Iraq to 400,000 barrels per day (bpd) from 70,000 bpd in the past seven years, Shafaq Continue Reading
Israel’s advisory Petroleum Council has recommended the country’s energy ministry approve US major Chevron’s $5 billion takeovers of Noble Energy, operator of the Leviathan and Tamar offshore gas fields. In Continue Reading
EU foreign policy chief Josep Borrell warned Sept. 15 the bloc’s relations with Turkey had reached a “watershed” moment over Ankara’s continued exploration work in the East Mediterranean. Not registered? Continue Reading
Kuwait aims to open what will be the Middle East’s largest import terminal for liquefied natural gas in March, according to two people familiar with the project. The Al-Zour plant Continue Reading
Gasoline shortages are becoming more acute across Venezuela (Twitter). Spanish – An uptick in coronavirus cases amid the most severe gasoline shortages exacerbates the crisis in the country with the Continue Reading
An oil tanker is discharging Iranian condensate for Venezuela as both countries continue to avoid U.S. sanction tripwires. The ship, identified as Honey, turned off its satellite signal and started Continue Reading
China has supported oil markets with its purchases of record volumes of crude oil in recent months, but it has also imported doubled volumes of fuel blending products, suggesting that Continue Reading
A drive to cut electricity prices for end-users has prompted Beijing to reduce gas-fired power plant tariffs, which has threatened the survival of many of them, Wood Mackenzie reports , Continue Reading
Global ethanol markets are not expected to recover fully at least until 2022 from the demand shock caused by the coronavirus pandemic, which led to a 20% cut in annual Continue Reading
Wildfires in Lake County, California, August 2020 The past few years have seen a heated debate among U.S. politicians and analysts about whether the United States should “decouple” from China Continue Reading
The US economic recovery is in danger of being weaker and more uneven if Congress and the White House fail to agree on a new round of fiscal stimulus, according Continue Reading
North American shale producers far outspent their revenue in the second quarter despite making deep spending cuts to survive the worst oil price crash in decades. Operators idled rigs, sacked workers Continue Reading
Connecticut and Delaware have joined a growing list of states, cities and counties that have filed climate change lawsuits against the fossil fuel industry, claiming oil and gas companies knew Continue Reading
U.S. industrial production slowed to a modest increase of 0.4% in August, far weaker than the strong bounce back recorded in previous months when factories were coming back to life. Continue Reading
The survey of new orders for long-lasting goods contains one of the most closely watched U.S. economic indicators. WSJ explains durable goods, and why investors look beyond the headline number Continue Reading
