Low prices batter oil industry (and later the rest of us)
It is a sign of the times that the largest oil company in the world, Saudi Aramco , the state oil company of the Kingdom of Saudi Arabia, must borrow Continue Reading
Crude futures fall on pre-OPEC+ meeting jitters
Crude oil futures were lower during mid-morning trade in Asia Nov. 30 amid profit-taking activity as the market grew anxious ahead of the OPEC and non-OPEC Ministerial Meeting due to Continue Reading
Oil Retreats on Signs of OPEC+ Discord Ahead of Key Meeting
Oil dropped below $45 a barrel as a consensus within OPEC+ to postpone an output hike planned for January remained elusive ahead of a meeting of the cartel’s power brokers Continue Reading
New Energy Giants Are Renewable Companies: Iberdrola, Enel, NextEra, Orsted
Meet the clean supermajors. They have the clout and financial might of the energy behemoths that plumbed the world over for oil and gas before them. But instead of digging Continue Reading
S&P Global Nears Deal to Buy IHS Markit for About $44 Billion
IHS Markit, based in London, has a market value of about $37 billion; S&P’s is about $82 billion. The deal would combine one of the oldest names in financial markets Continue Reading
OPEC+ yet to find compromise on oil policy for 2021, say sources
OPEC and allies led by Russia have yet to find a consensus on oil output policy for 2021, after an initial round of talks on Sunday and ahead of crucial Continue Reading
OPEC+ to discuss extending oil cuts or gradually raising output, sources say
OPEC+ members will consider whether to extend existing oil cuts for three to four months or to gradually increase output from January during their two days of talks that start Continue Reading
OPEC+ Fails to Agree on Output-Hike Delay Before Big Meeting – Bloomberg
OPEC and its allies headed into a two-day meeting with ministers still split on plans to delay a production boost, after failing to reach consensus in talks on Sunday night. Continue Reading
Iran’s Nuclear Efforts Pose Growing Threat to Its Foes Despite Setbacks
President-elect Joe Biden has said he plans for the U.S. to re-enter the Iran nuclear deal he helped establish under the Obama administration in 2015. WSJ’s Gerald F. Seib explains Continue Reading
Iraq isn’t seeking exemptions from OPEC+ output cuts: report
Iraq isn’t seeking exemption from OPEC+ production cuts because it does not want crude prices to drop, Alsabaah newspaper reported Nov. 29, citing the country’s oil minister Ihsan Ismaael. Oil Continue Reading
Russia seen backing limited OPEC+ crude output cut extension
Russia is expected to agree to a short-term extension of OPEC+ production cuts when the group meets next week, according to analysts, helped by the fact that Moscow is less Continue Reading
Machine guns and a hit squad: the killing of Iran’s nuclear mastermind
The hit squad behind last week’s deadly attack on the man long thought to be the mastermind of Iran’s alleged military nuclear program left nothing to chance. As nuclear scientist Mohsen Continue Reading
Dear Joe, It’s Not About Iran’s Nukes Anymore
With the assassination by Israel of Iran’s top nuclear warhead designer, the Middle East is promising to complicate Joe Biden’s job from day one. President-elect Biden knows the region well, Continue Reading
Iran to give a ‘calculated’ response to nuclear scientist killing, says official
ran will give a “calculated and decisive” response to the killing of its top nuclear scientist, said a top adviser to Iran’s supreme leader, while a hardline newspaper suggested Tehran’s Continue Reading
Iran’s Nuclear Efforts Pose Growing Threat to Its Foes Despite Setbacks
President-elect Joe Biden has said he plans for the U.S. to re-enter the Iran nuclear deal he helped establish under the Obama administration in 2015. WSJ’s Gerald F. Seib explains Continue Reading
Iran begins burial of slain prominent nuclear scientist – TV
Iran began the burial of slain nuclear scientist Mohsen Fakhrizadeh in a cemetery in northern Tehran on Monday, state TV reported, as the defense minister promised the Islamic Republic would Continue Reading
West Africa: Greek Crew Held Hostage After Kidnapping Off West Africa
Greek authorities say negotiations are underway to free three sailors kidnapped off the Nigerian coast. Analysts warn there has been a “sharp increase” in incidents in the Gulf of Guinea. Continue Reading
The End Of The Century-Old Black Sea Drilling Dream
There is a long history of drilling for hydrocarbons in the Black Sea. After all, oil-rich Azerbaijan, and the Caspian region in general, was one of the first spots in Continue Reading
The Single Biggest Threat To Venezuela’s Future
It was not too long ago that copious oil reserves such as the 303 billion barrels located in Venezuela, which are the world’s largest, were viewed as a tremendous economic Continue Reading
Joe Biden must be the climate change president
Joe Biden became president-elect, he listed climate change among his top priorities. Last week, he named former secretary of state John F. Kerry to be his climate czar. It is Continue Reading
ExxonMobil calls off sale of assets in Australia’s Bass Strait: AFR
ExxonMobil has called off the potential multibillion-dollar sale of its oil and gas assets in Australia’s Bass Strait, according to the Australian Financial Review. The decision by the U.S. oil Continue Reading
This Year’s Hurricane Season Smashes All Kinds of Records
Flooding after Hurricane Delta hit Delcambre, La., on Oct. 10. The 2020 hurricane season is set to officially close Monday, and this year surpassed 2005 as the busiest ever on Continue Reading
U.S. shale firms amp up natural gas output as futures signal more gains
Higher natural gas futures prices for 2021 and a continued glut of crude oil are prodding U.S. shale firms to boost gas drilling and production. Shale producers are increasing spending Continue Reading
Will Biden Be As Bad For Oil As Critics Suggest?
There has been a lot of hand-wringing in the oil industry about the consequences of a Joe Biden win, so let’s discuss those today. Here is some context I like Continue Reading
The COVID-19 Pandemic Is Fueling A Record Decline In Emissions
Last week BloombergNEF (BNEF) published a new report that quantifies the impact of the Covid-19 pandemic on U.S. carbon dioxide emissions . The report estimates that 2020 emissions will be Continue Reading
Britain expects “very significant” week for Brexit talks as clock ticks down
Britain and the European Union are heading into a “very significant” week, British foreign minister Dominic Raab said on Sunday, as talks over a trade deal enter their final days Continue Reading
U.S., Russia Race to Outflank Each Other on Russian Pipeline
For the past year, U.S. officials and Russia hawks on Capitol Hill have closely watched the peregrinations of a Russian ship, as it sailed from Russia’s Far East around Africa Continue Reading
EU proposes fresh alliance with US in face of China challenge
The EU will call on the US to seize a “once-in-a-generation” opportunity to forge a new global alliance, in a detailed pitch to bury the tensions of the Trump era Continue Reading
Volkswagen Readies Compact EV For 2023
Volkswagen will look to reduce its portfolio of internal combustion engine vehicles, while speeding up the development of a compact electric vehicle that could cost less than $36,000 and could Continue Reading
Nord Stream 2 set to resume pipe-laying in German waters in December: notice
The developer of the almost-complete Nord Stream 2 gas pipeline from Russia to Germany is set to resume pipe-laying work in German waters next month, according to a notice to Continue Reading
Alstom to supply Italy’s first hydrogen trains
Alstom will supply six hydrogen fuel cell trains, with the option for eight more, to FNM (Ferrovie Nord Milano), the main transport and mobility group in the Italian region of Continue Reading
Oil Gains for Fourth Straight Week Ahead of OPEC+ Output Meeting
Oil rose for a fourth straight week, buoyed by optimism over Covid-19 vaccine progress ahead of an OPEC+ ministerial gathering next week. Futures in New York advanced 8% this week, despite Continue Reading
Low Oil Prices Could Finally Bring Iraq And Kurdistan Together
The relationship between Baghdad and Erbil has been strained ever since Iraq managed to eliminate the threat of the Islamic State. Both sides perceive the other’s endeavors with anxiety but Continue Reading
Oil Prices Seen Remaining Subdued Into 2021
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing. (Originally published July 21, 2020) Oil prices are expected Continue Reading
OPEC’s Impromptu Weekend Meeting Delayed
OPEC+’s meeting that was put on the books at the last minute for Saturday is now being delayed to Sunday, according to anonymous Reuters sourc es. No reason for the Continue Reading
Oil Markets Hopeful As OPEC+ Meeting Looms
Oil prices are set for a fourth consecutive weekly gain as positive vaccine news and hopes of an OPEC+ production cut extension boosts bullish sentiment. For Global Energy Alert members Continue Reading
Factbox: Who is the Iranian scientist killed in Tehran?
Prominent Iranian military scientist Mohsen Fakhrizadeh, killed in an attack outside Tehran on Friday, was widely seen by Western intelligence as the mastermind of clandestine Iranian efforts to develop nuclear Continue Reading
Iran Says Its Top Nuclear Scientist Killed in Attack
A top Iranian nuclear scientist, widely viewed as the father of the country’s nuclear program, was shot and killed on Friday, dealing a blow to Tehran’s atomic ambitions and threatening Continue Reading
Live Updates: Iran’s Top Nuclear Scientist Killed in Attack, State Media Say
A brazen killing took place in an ambush. Iran’s top nuclear scientist, who American and Israeli intelligence have long charged was behind secret programs to design an atomic warhead, was Continue Reading
Iran’s leader promises retaliation for nuclear scientist’s killing
DUBAI (Reuters) – Iran’s supreme leader promised on Saturday to retaliate for the assassination of the Islamic Republic’s top nuclear scientist, who the West and Israel believed was the architect Continue Reading
Iraq fears Trump’s final weeks could see confrontation between U.S. and Iran
The Iraqi government is on edge as the Trump presidency enters its final weeks, fearing that a last-minute confrontation between the United States and Iran could erupt on Iraqi soil. Continue Reading
British Military Sent On Secret Mission To Protect Saudi Oilfields
The United Kingdom has had troops deployed in Saudi Arabia to protect its oilfields from attacks since February this year, The News reported this week, a local newspaper in Portsmouth Continue Reading
Analysis: Covert Israeli-Saudi meeting sends Biden a strong message on Iran
A historic meeting between Israel’s prime minister and Saudi Arabia’s crown prince has sent a strong signal to allies and enemies alike that the two countries remain deeply committed to Continue Reading
U.S. aircraft carrier deploys to Gulf, Navy says unrelated to ‘specific threats’
U.S. aircraft carrier USS Nimitz was deployed to the Gulf this week, days before the killing of Iran’s top nuclear scientist, although the U.S. Navy said on Saturday the deployment Continue Reading
OPEC, Russia Alliance Lean Toward Keeping Oil Cuts in Place
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
Nigeria asks OPEC to review repercussions of output strategy
Nigeria is the latest OPEC member to urge the producer group to consider the economic implications of steep production cuts on its members ahead of the OPEC+ formal meeting next Continue Reading
India’s GDP Shrinks as Covid-19 Keeps Stranglehold on Economy
IThe coronavirus pandemic has strangled one of the most powerful engines of economic growth in the world: spending by India’s 1.3 billion consumers. The country’s gross domestic product shrank 7.5% Continue Reading
U.S. wants six former Citgo executives convicted in Venezuela to be returned: Pompeo
FILE PHOTO: U.S. Secretary of State Mike Pompeo speaks to the media prior to meeting with Kuwait’s Foreign Minister in Washington, D.C., U.S., November 24, 2020. Saul Loeb/Pool via REUTERS Continue Reading
Venezuela Resumes Direct Oil Shipments To China
Venezuela has restarted direct shipments of crude oil to China despite U.S. sanctions, Reuters has reported , citing shipping data and documents from PDVSA. Until now, Venezuela’s oil company sold Continue Reading
U.S. patients hospitalized with COVID-19 surpass 90,000 ahead of expected case surge | Reuters
U.S. health authorities will hold an emergency meeting next week to recommend that a coronavirus vaccine awaiting approval be given first to healthcare professionals and people in long-term care facilities. Continue Reading