Crude oil futures took a dive during the mid-morning trade in Asia on Oct. 28, erasing most of their overnight gains, as the market grew anxious over a large build Continue Reading
German Chancellor Angela Merkel proposed closing bars and restaurants for a month and French President Emmanuel Macron prepared to announce tougher restrictions that may include a lockdown as hospitals fill up Continue Reading
Oil fell sharply as an industry report showed a rise in U.S. crude stockpiles and stock markets in Europe came under pressure. Crude futures in New York fell 3.9%, while those Continue Reading
The American Petroleum Institute (API) reported on Tuesday a bigger build than expected in crude oil inventories of 4.577 million barrels for the week ending October 23. Analysts had predicted Continue Reading
The price of WTI is once again below $40 as new COVID cases drive demand lower and Libya threatens to bring a new wave of supply online. Chart of the Continue Reading
LNG prices are expected to stay in a lower-for-longer phase over the medium to long term on the back of strong global gas supply, which will benefit buyers and support Continue Reading
Oman is looking at ‘all financing options’ following the lacklustre sale last week of a total US$2 billion bond offering, according to legal sources working with the Sultanate spoken to Continue Reading
As cash prices at the Henry Hub zoomed past $3 this week, an ongoing wave of fuel switching is promising to significantly reduce gas demand from power generators this winter. Continue Reading
The worst of the oil market is behind us, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said on Monday at CERAWeek’s India Energy Forum. “We are still vigilant. I Continue Reading
The U.S. Treasury Department announced new sanctions on Iranian entities, this time including the Petroleum Ministry, the National Iranian Oil Company, and the National Iranian Tanker Company. These were sanctioned Continue Reading
The Libyan ceasefire agreement, which is being painted as a permanent one, could soon face increased opposition if third party interference is not dealt with. The UN-brokered (UNSMIL) agreement has Continue Reading
Chevron’s acquisition of Noble Energy launched an ongoing M&A frenzy in the U.S. shale patch as companies look to consolidate to cut costs while adding immediately cash-flow-positive resources to their Continue Reading
Total and its partners have made a “significant” gas condensate discovery near the major Brulpadda find off South Africa’s Western Cape raising the prospects of a new gas push in Continue Reading
Soldiers carry the coffins of fallen soldiers at Yerablur Military Cemetery in Yerevan, Armenia, on Monday. Negotiating a cease-fire is a diplomat’s nightmare. The side gaining ground doesn’t want to Continue Reading
There are considerable concerns that the vast oil reserves of Venezuela, totaling a billion barrels, could become a stranded asset. It was Venezuela’s burgeoning post-World War One oil boom which Continue Reading
After a positive start to 2020 there is little evidence of a sustained recovery for the Andean country’s economically crucial oil industry. Significantly weaker oil prices, the COVID-19 pandemic and Continue Reading
South Korea is joining China and Japan in setting a deadline to zero-out carbon emissions. The Asian country is targeting to become carbon neutral by 2050, President Moon Jae-in said during Continue Reading
As energy transition gains momentum in Asia, especially in the field of hydrogen, policy makers and industry professionals remained focused on finding low-cost production methods to reduce carbon footprints and Continue Reading
Crude throughputs at China’s refineries extended the falling trend in October, with both state-owned oil companies and independent refineries cutting run rates amid weakening refining margins. Receive daily email alerts, Continue Reading
Green power is set to draw around $11 trillion of investment in the coming decades as the cost of renewables plummets and more of the world’s energy comes from electricity. That’s Continue Reading
Some US electric grid operators, such as the Electric Reliability Council of Texas Inc., have pursued the notion that if they build transmission, generators will come. But in the budding Continue Reading
Roughly half of all the oil and gas production from the US Gulf of Mexico was shut in Oct. 27 ahead of Tropical Storm Zeta, which is expected to again Continue Reading
Brandon Thompson was planning on making an eight-hour drive this year from his home in Iowa to Ann Arbor, Michigan, to see his favorite college football team play. Then the Continue Reading
These people said details of the order were still under discussion, and a final decision on whether to even issue it hasn’t been made. White House spokesman Judd Deere declined Continue Reading
In late 2011, ExxonMobil announced plans to drill for oil in disputed land between Kurdistan and the rest of Iraq. Baghdad’s government, fearing the move could break up the country, Continue Reading
Pfizer is one of four companies with large, late-stage clinical trials underway in the United States.Credit…Brendan Mcdermid/Reuters After weeks of dangling the possibility of early coronavirus vaccine results by October, Continue Reading
As two wildfires raged across Southern California on Tuesday, nearly doubling in size overnight and forcing thousands more people to flee their homes, the state’s utility companies are again coming Continue Reading
The Trump administration has recently removed the chief scientist at the National Oceanic and Atmospheric Administration, the nation’s premier scientific agency, installed new political staff who have questioned accepted facts Continue Reading
A fast-moving, wind-whipped wildfire left two firefighters critically injured and forced more than 90,000 residents in Southern California to evacuate Monday, while huge swaths of the Golden State went without Continue Reading
The prolonged Nord Stream-2 saga has managed the unmanageable – industry watchers are becoming numb to the ever-changing prospects of the project and are becoming less and less likely to Continue Reading
Oil and gas operators are expected to drill around 30 exploration wells offshore Norway this year—just half the number of exploration wells from last year and the lowest number in Continue Reading
The airline industry is gearing up for a difficult fourth quarter in 2020 as fresh outbreaks of coronavirus continue to crop up and restrictions remain in place on cross-border travel, Continue Reading
Russian president Vladimir Putin Oct. 26 approved the strategy for developing Russia’s Arctic zone and ensuring national security up to 2035. Not registered? Receive daily email alerts, subscriber notes & Continue Reading
Representatives from the State of Hesse, RMV (Rhein-Main-Verkehrsverbund), Alstom and Infraserv broke ground for a hydrogen filling station on the site of the Höchst industrial park in Frankfurt that will Continue Reading
IMMENDINGEN, Germany (Reuters) – As Tesla touts the cutting-edge nature of its new Full Self Driving software, rival Mercedes-Benz says it has developed a similar system but stops short of Continue Reading
Crude oil futures ticked up during the mid-morning trade in Asia on Oct. 27 after oil producers in the US Gulf started shutting in production ahead of Hurricane Zeta, providing Continue Reading
Oil clawed back some losses in New York as the dollar weakened, although rising Libyan production and fading hopes for fresh U.S. stimulus pointed to a bearish outlook for the Continue Reading
Oil prices rose on Tuesday after recent sharp losses, but market sentiment remains muted as surging COVID-19 cases around the world hurt the outlook for crude demand while supply is Continue Reading
Oil futures settled lower Oct. 26 as demand outlooks came under pressure amid a surge in COVID-19 cases in the US and Europe. NYMEX December WTI settled $1.29 lower at Continue Reading
It’s a dark Monday in the oil market, according to Rystad Energy. It’s a dark Monday in the oil market. That’s what Rystad Energy’s head of oil markets Bjornar Tonhaugen Continue Reading
Oil extended its slide to a second day on a toxic cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a Continue Reading
The first large-scale study of the risks that countries face from dependence on water, energy and land resources has found that globalization may be decreasing, rather than increasing, the security Continue Reading
The United States, Russia, France and many other countries are setting records for coronavirus infections as a tidal wave of cases washes over parts of the Northern Hemisphere, forcing some Continue Reading
Seeking to blunt concerns about the damage natural gas does to the environment, some of the world’s largest shippers of the fuel are selling “carbon-neutral” cargoes that include a form Continue Reading
It’s only natural to be skeptical when a political leader stands up and makes a promise about a target that’s far off, hard to achieve, and lacks a clear pathway. So Continue Reading
Global economic and oil demand recovery is still anemic, OPEC Secretary General Mohammad Barkindo said on Monday, but noted that the cartel doesn’t see another plunge in demand like in Continue Reading
The United States on Monday imposed fresh Iran-related sanctions targeting the Islamic Republic’s oil sector, including the Iranian Ministry of Petroleum, in Washington’s latest move to increase pressure on Tehran. Continue Reading
Iran’s oil minister said on Twitter on Monday that Tehran’s oil industry will not yield to pressure from the United States. Minister Bijan Zanganeh said U.S. sanctions against him and Continue Reading
The Trump administration on Monday imposed counterterror sanctions on Iran’s Ministry of Petroleum, the National Iranian Oil Company and its tanker subsidiary in a pre-election move that analysts say will Continue Reading
Libya’s crude oil production could reach 800,000 bpd over the next two weeks and top 1 million barrels daily within a month now that the National Oil Corporation has lifted Continue Reading
