Biggest US Gas Producer May Get Even Bigger
EQT Corp., the biggest producer of U.S. natural gas, is seeking to acquire rival CNX Resources Corp., according to people familiar with the matter, as M&A accelerates in the distressed Continue Reading
New U.S. Covid-19 Cases Top 80,000 to Reach a Single-Day Record
Since the pandemic began, more than 8.49 million infections have been reported in the U.S. and more than 223,900 Americans have died, according to Johns Hopkins data. World-wide, more than Continue Reading
U.S. Sets Coronavirus Case Record Amid New Surge
The United States is in the midst of one of the most severe surges of the coronavirus to date, with more new cases reported across the country on Friday than Continue Reading
Europe fears the worst as coronavirus surge threatens to overwhelm hospitals
European governments have warned of an alarming rise in the number of coronavirus infections across the continent from west to east, an autumnal second wave that threatens to overwhelm hospitals Continue Reading
‘It is terrifying’: Europe braces for lengthy battle with COVID
Europe faces a lengthy battle against the coronavirus at least until mid-2021, France warned on Friday, as anxious governments introduced ever more restrictions to curb the disease once again accelerating Continue Reading
Spain Shipyard Eyes EU Aid in Pivot From Warships to Wind Power
Spanish shipbuilder Navantia is stepping up its bet on offshore wind energy, a venture that stands to benefit from the European Union’s fiscal response to the pandemic. The landmark 750 billion-euro Continue Reading
France Delays U.S. LNG Deal On Environmental Concerns
France’s government has asked local power group Engie, in which it holds more than 20 percent, to delay the signing of a 20-year deal worth US$7-billion to buy liquefied natural Continue Reading
Iceland’s Landsvirkjun and port of Rotterdam agree to study shipping green hydrogen
Iceland’s largest electricity generator and the port of Rotterdam have agreed to study the best way to ship zero-carbon hydrogen produced from hydropower to feed Europe’s growing demand, the two Continue Reading
Crude oil futures steady on stimulus hopes, possible output cut extension
Crude oil futures were steady during mid-morning trade in Asia Oct. 23, after settling higher overnight on fresh hopes of an agreement on the US stimulus bill and as Russia Continue Reading
Oil Prices for Oct. 23, 2020: Brent Crude, WTI
Oil headed for a modest weekly decline as fresh optimism that a U.S. stimulus deal is imminent was overshadowed by the threat a resurgent coronavirus poses to energy demand in Europe Continue Reading
OIL FUTURES: Energy climbs on stimulus hopes, better US jobs data
Oil futures settled higher Oct. 22 amid fresh hopes for passage of a US stimulus bill and stronger-than-expected jobs data. NYMEX December WTI settled 61 cents higher at $40.64/b and Continue Reading
OPEC+ Production Cuts Could Be Extended: Putin
Russia does not rule out the possibility that OPEC+ could extend its current 7.7 million barrels per day of production cuts into next year, according to Russian President Vladimir Putin Continue Reading
Major Energy Companies Bet Big on Hydrogen
A liquid-hydrogen tanker truck fills up at a Linde AG hydrogen plant in Germany. As the oil-and-gas industry struggles to secure its place in a world shifting away from fossil Continue Reading
Goldman Expects A Structural Bull Market For Commodities In 2021
A weaker U.S. dollar, rising inflation risks and demand driven by additional fiscal and monetary stimulus from major central banks will spur a bull market for commodities in 2021, Goldman’s Continue Reading
World Bank Sees Oil Average $44 in 2021
Energy prices suffered the most among commodities in the pandemic—especially oil prices—and they won’t be rising much next year either, averaging just $44 a barrel, the World Bank said in Continue Reading
Technology Will Become More Important Than Oil For Energy Markets
The phrase “peak oil” has been getting a lot of airtime in the media lately. One headline scoffs at the idea of peak oil in the near future, while another Continue Reading
Has Natural Gas Peaked? Demand is Falling Decades Ahead of Expectations
One of the largest utilities in the U.S. put $8 billion into a bet that natural gas would dominate American electricity much like coal had before. “We really consider this Continue Reading
Iraq’s Kurdistan Region Says It Is Committed To OPEC+ Cuts
The semi-autonomous Kurdistan region in Iraq has agreed to reduce the region’s crude oil production as part of the ongoing OPEC+ agreement, the Kurdistan Regional Government (KRG) said on Thursday. Continue Reading
Oil Ministry orders 250,000 bpd October production hike
Surge in production comes as Iraq attempts to navigate the opposing pressures of a financial crisis and quota commitments to OPEC-plus. Dhi Qar Oil Company workers at the Suba oil Continue Reading
Iraq’s Kurdish region says oil output cuts hinge on federal payments
Iraq’s semi-autonomous Kurdish region will trim its output in line with OPEC+ cuts provided the federal government pays its dues to Erbil, a Kurdistan Regional Government spokesperson said Oct. 22 Continue Reading
PDVSA crude storage vessel holding more than 1 mil barrels at risk of sinking: sources
The floating storage and offloading vessel Nabarima is in danger of sinking off the Venezuelan coast with more than 1 million barrels of crude, but state-owned oil company PDVSA does Continue Reading
The End Of Venezuela’s Oil Era
Venezuela, once Latin America’s largest oil producer and a founding member of OPEC, has seen its economically vital oil industry collapse triggering one of the worst economic and humanitarian crises Continue Reading
Chinese Energy Giant CNOOC Reports Major Drop In Revenue
CNOOC, the Chinese state energy giant focused on offshore and overseas exploration and production, reported a 27-percent drop in revenues for the third quarter, as quoted by Reuters, as business Continue Reading
Here’s Why Biden Couldn’t Ban Fracking, But Could Restrict It
Fracking has emerged as a hot button issue of the 2020 election, with President Donald Trump claiming his political rival will cripple the economy in politically important states such as Continue Reading
US jobless claims drop to 787,000, but layoffs remain high
The number of laid-off Americans seeking unemployment benefits fell last week to 787,000, a sign that job losses may have eased slightly but are still running at historically high levels. Continue Reading
Could Oil Drillers Make Geothermal Energy Go Mainstream?
With so much talk about offshore wind and utility-scale solar, it is easy to forget about one other abundant, emission-free energy source. Geothermal has garnered a lot less attention than Continue Reading
Canada’s Oil Prices To Rise As Mexican Heavy Crude Supply Falls
The benchmark price of Canada’s oil sands is expected to strengthen next year amid lower supplies of Mexican heavy crude oil to the United States, BMO Capital Markets said in Continue Reading
U.S. Gasoline Demand Drops
U.S. gasoline demand is weakening, prompting refineries to additionally cut capacity utilization and crude processing in a sign that resurging coronavirus cases are derailing fuel demand recovery. According to this Continue Reading
Exxon Expected To Announce North America Redundancies Soon
Exxon is close to completing a workforce assessment for the United States and Canada, after which it will announce the number of people it needs to lay off in response Continue Reading
US oil and gas rig count climbs 11 to 347 as crude prices stabilize: Enverus
The US oil and gas rig count rose by 11 to 347 in the week ended Oct. 21, rig data provider Enverus said, marking a second straight week of double-digit Continue Reading
With Bankruptcies Mounting, Faltering Oil and Gas Firms Are Leaving a Multi-billion Dollar Cleanup Bill to the Public
Amid a record wave of bankruptcies , the U.S. oil and gas industry is on the verge of defaulting on billions of dollars in environmental cleanup obligations. Even the largest Continue Reading
Presidential Debate: Trump Seizes On Biden Oil Comment to Warn Key Voters – Bloomberg
President Donald Trump seized on Joe Biden’s pledge Thursday to eventually replace fossil fuels with renewable energy, turning the Democratic nominee’s remarks into a warning for swing state voters that Continue Reading
U.S. Businesses Say One Thing on Climate Change, But Their Campaign Giving Says Another
As Americans vote in an election that will redefine national climate priorities, the biggest U.S. companies—even those with ambitious green agendas—are throwing their support behind lawmakers who routinely stall climate Continue Reading
Biden calls for ‘transition’ from oil, GOP sees opening
Democrat Joe Biden’s remark that he would “transition” away from oil in the U.S. in favor of renewable energy drew quick attention Thursday night from President Donald Trump, who saw Continue Reading
Late-Season Wildfires Rampage Through Colorado
Rocky Mountain National Park was burning. Once-tranquil mountain valleys and ranches were choked with smoke and flames. Thousands of cars jammed onto two-lane rural roads as new evacuation orders popped Continue Reading
Biden says the U.S. needs to move off oil to tackle climate change as Trump attacks the plan’s cost, economic impact
President Trump and Democratic presidential nominee Joe Biden participate in the final presidential debate, in Nashville on Oct. 21. (Jim Bourg/Pool/EPA-EFE/Shutterstock) President Trump and former vice president Joe Biden laid Continue Reading
Another Permian Giant May Be Forced To Consolidate Or Die
One by one they are starting to fall. The long predicted consolidation wave in U.S. shale players, particularly those with assets in the Permian stacked play, is in high gear. Continue Reading
Baker Institute team says fossil fuel subsidies need global reform
Fossil fuels still receive most of the international government support provided to the energy sector despite their “well-known environmental and public health damage,” according to new research from Rice University’s Continue Reading
Climate change isn’t the only environmental crisis Biden wants to confront
One of the biggest parts of Democratic nominee Joe Biden’s green platform — and one that’s gotten little attention so far — is his commitment to protect nearly a third Continue Reading
Where Europe’s Second Wave Is Filling Up Hospitals
Poland has turned its largest stadium into an emergency field hospital. The numbers of Covid-19 patients in Belgium and Britain have doubled in two weeks. And doctors and nurses in Continue Reading
This $40 Billion Pipeline Project Risks Becoming A Stranded Asset
Europe’s relationship with Russia has soured over the years due to diverging political views and crises such as Ukraine’s reorientation towards the West. Also, energy dependency has become a politically Continue Reading
UK ‘at much greater risk’ of winter blackouts than indicated: trader Hartree
The UK is at much greater risk of electricity blackouts than indicated in National Grid’s Winter Outlook, energy trading house Hartree Solutions said Oct. 22. Receive daily email alerts, subscriber Continue Reading
UK’s economic recovery fades in October as pandemic flares up – PMIs
Britain’s economic recovery has lost more momentum this month as a resurgence of the coronavirus pandemic hit businesses in the hospitality and transport sectors, a survey showed on Friday. FILE Continue Reading
France Dragged Back Into Economic Slump by Virus Resurgence
The resurgence of the coronavirus has dragged France’s economy back into a slump, cutting short the recovery from the lockdown recession. IHS Markit’s monthly survey of business activity dropped more than Continue Reading
AP Explains: Why are UK and EU still arguing over Brexit?
It’s more than four years since Britain voted to leave the European Union, and almost a year since Prime Minister Boris Johnson won an election by vowing to “get Brexit Continue Reading
$7B LNG Import Deal Put on Hold
One of France’s biggest energy companies has delayed a decision on a $7 billion deal to import LNG from the US. (Bloomberg) — One of France’s biggest energy companies has Continue Reading
Crude futures fall as US gasoline stock build overshadows crude drawdown
Crude futures dipped during mid-morning Asian trade Oct. 22 as data from the Energy Information Association indicated that the US’ downstream demand remains weak and on persistent concerns over the Continue Reading
Oil Holds Near $40 After Falling on Surprise Fuel Stockpile Gain
Oil held near $40 a barrel in New York after the biggest drop in two weeks on Wednesday following a surprise jump in U.S. gasoline stockpiles and slowing demand. Motor fuel Continue Reading
Oil Prices Slump on US Fuel Supply Build
Oil and gasoline futures tumbled the most in more than two weeks. (Bloomberg) — Oil and gasoline futures tumbled the most in more than two weeks after a U.S. government Continue Reading
Summary of Weekly Petroleum Data for the week ending October 16, 2020
Summary of Weekly Petroleum Data for the week ending October 16, 2020 U.S. crude oil refinery inputs averaged 13.0 million barrels per day during the week ending October 16, 2020 Continue Reading