Light Sweet Crude Oil Is Taking Over The Market
The popularity of light sweet crude oil among refiners is growing at a solid clip. The ongoing push to combat climate change and ever stricter regulations over fuel emissions is Continue Reading
Which countries are responsible for all that ocean plastic?
China and Japan are among the “ many, many countries ” flooding U.S. beaches with plastic waste. At least, that’s what President Trump said in late 2018 as he signed Continue Reading
OPEC and Russia study deeper oil cuts: two sources
The Organization of the Petroleum Exporting Countries and Russia are considering deeper oil output cuts early next year to try to strengthen the oil market, one OPEC source and one Continue Reading
OPEC’s Oil Revenues Set To Plunge To 18-Year Low
The low oil prices and the record OPEC+ production cuts are set to nearly halve the net oil export revenues of OPEC members this year compared to 2019, sending them Continue Reading
OPEC+ may consider deeper oil cuts if coronavirus lockdowns squeeze global economy: sources
Cloudy global economic prospects, along with a recent slide in oil prices, could prompt OPEC and its allies to ratchet back their production cuts to historic levels, sources told S&P Continue Reading
Rise In COVID Cases May Force OPEC To Do The Unthinkable
With the most recent round of coronavirus-inspired lockdowns in various parts of the world, OPEC may face its biggest challenge yet: cutting even more production . Would the cartel and Continue Reading
Saudi Aramco Oil News: Aramco Sees Third-Quarter Profit Fall 45% From 2019
Saudi Aramco left its third-quarter dividend unchanged at $18.75 billion even as it failed to generate enough cash to cover the payout and reported a 45% drop in profit. The world’s Continue Reading
Iraq Boosted Oil Exports In October Despite OPEC+ Quota
Iraq exported an average of 2.876 million bpd last month, up by more than 200,000 bpd from September, data from the oil ministry showed, as quoted by Iraq Business News. Continue Reading
Qatar Bases Budget On $40 Oil To Withstand Volatility
Oil and gas producer Qatar will base its budget on an oil price of $40 a barrel—lower than the actual expected price—in order to protect its finances from volatility in Continue Reading
Export increase gives Iraq more oil revenues despite price drop
Iraq’s nationwide oil exports were an average 3.277 million barrels per day (bpd) in October, the highest volumes since May this year and an increase from 3.049 million bpd in Continue Reading
India’s Covid-19 Fight Will Be Deadlier Due to Toxic Air From Fires
As winter sets in, the air hanging over north India thickens with smoke from burning fields, blocking out the sun and making it hard to breathe. This year, that could Continue Reading
Nigeria to get output boost from start-up of Anyala-Madu fields
Oil production from Nigeria’s Anyala West field, located in the shallow offshore blocks of OML 83 and 85, has commenced, indigenous producer FIRST E&P and state-owned Nigerian National Petroleum Corporation Continue Reading
Venezuela’s Oil Exports Continue To Plunge
Venezuela’s crude oil exports last month fell further, to a low of 359,000 bpd, Reuters reported , citing official data. The decline was the result of the expiry of a Continue Reading
Chile aims to become major hydrogen producer by 2030
The Chilean government has set itself ambitious targets to become one of the world’s leading exporters of green hydrogen by the end of the decade, taking advantage of the country’s Continue Reading
The oil industry thinks it can work with Biden, despite call for ‘transition’ away from it
Joe Biden said he wanted a “transition” away from the oil industry. But the oil industry itself thinks it can still work with the Democratic nominee should he win the Continue Reading
Cruise industry throws in the towel on 2020, looks to 2021
The cruise industry has jettisoned hopes of restarting operations this year. Days after both Carnival and Norwegian extended a halt on cruises through the end of the year, the group Continue Reading
Virus hospitalizations surge as pandemic shadows US election
Americans went to the polls Tuesday under the shadow of a resurging pandemic, with an alarming increase in cases nationwide and the number of people hospitalized with COVID-19 reaching record Continue Reading
Natural-Gas Drillers Outshine Oil Peers as Covid-19 Surges
A split reality is emerging for U.S. shale drillers: Those that primarily pump oil are still struggling to survive, while those that produce natural gas are slowly seeing signs of Continue Reading
Energy Stocks Are Now The Worst-Ever Performers In Market History
Expectedly, the crash in oil demand and prices has crushed oil and gas stocks to the point of making the energy industry the worst-performing sector this year. Not only is Continue Reading
U.S. formally exits global climate pact amid election uncertainty
The United States formally exited the Paris Agreement on Wednesday, fulfilling a years-long promise by President Donald Trump to withdraw the world’s second-largest greenhouse gas emitter from the global pact Continue Reading
Baker Hughes Dips Into Carbon Capture as Climate Pressures Grow –
Baker Hughes Co., one of the world’s biggest oilfield servicers, bought technology that enables companies to capture carbon emissions with a view to storing them underground as the industry faces Continue Reading
Will The E-Commerce Boom Boost Oil Demand?
“People have money and they’re not spending it on going out to the theater, they’re buying goods, CEO Black Gold Investors LLC. The transport industry has been one of the Continue Reading
Louisiana approves property tax measure tied to oil, gas production
Louisiana voters approved a change to the state constitution to allow the presence or production of oil or gas to be taken into account when assessing the fair market value Continue Reading
With aggressive climate goals, Inslee reelected Washington governor
Democratic incumbent Jay Inslee held onto his seat as governor of the state of Washington as voters Nov. 3 selected him to continue guiding the state toward meeting aggressive climate Continue Reading
Euro zone economy on track for double-dip recession – PMI
The euro zone’s economic recovery stalled last month as a second wave of coronavirus cases and restrictions imposed to try and contain it whacked activity in the bloc’s dominant service Continue Reading
Oil Prices Rise Amid Russia OPEC+ Talks
Oil rose the most in more than three weeks as Russian producers met with Energy Minister Alexander Novak to discuss the possibility of delaying an easing of OPEC+ output cuts Continue Reading
Crude futures steady amid fading support from economic data, Russian talks
Crude oil futures were largely steady during mid-morning Asian trade Nov. 3, as support from strong economic data and speculation over Russian willingness to extend OPEC+ production cuts faded amid Continue Reading
Oil prices extend rally ahead of U.S. election
Oil prices extended their rally on U.S. Election Day amid a recovery in financial markets on Tuesday, but concerns over surging coronavirus cases around the world capped further gains. Brent Continue Reading
Rystad Energy: COVID To Accelerate Peak Oil Demand To 2028
Global oil demand will peak at 102 million barrels per day (bpd) in 2028, Rystad Energy said on Monday, noting that the push to low-carbon energy and the coronavirus pandemic Continue Reading
Heinberg: A simple way to understand what’s happening … and what to do
The world seems to be coming apart at the seams. It’s critical to understand why, so that we can avoid the worst and find the best responses so as to Continue Reading
Doctors Begin to Crack Covid’s Mysterious Long-Term Effects
Nearly a year into the global coronavirus pandemic, scientists, doctors and patients are beginning to unlock a puzzling phenomenon: For many patients, including young ones who never required hospitalization, Covid-19 Continue Reading
This Challenged Gulf Nation Is Betting Big On Natural Gas
Oman has weathered all the innumerable challenges of 2020 with considerable flair, even though the year started off with the untimely passing of Sultan Qaboos, then came the coronavirus pandemic Continue Reading
PKK suspected of Iraq-Turkey Pipeline attack
The Kurdistan Workers’ Party (PKK) is suspected of causing an Oct. 28 explosion on the Turkish side of the Iraq-Turkey Pipeline, which temporarily shut down oil flows from fields controlled Continue Reading
Libya Oil Output Hits 800,000 Bpd
Libya’s crude oil production has reached 800,000 bpd, Reuters has reported, citing sources in the know. This is a 100,000-bpd increase in just a few days, the report added. Libya Continue Reading
Export increase gives Iraq more oil revenues despite price drop
Federal Iraq exports increase by more than 250k bpd and KRG posts slight decline. A worker for Iraq’s South Oil Company calls in an oil tanker to fill up at Continue Reading
Oil Giant Aramco Keeps Dividend Despite 45% Slump in Profit
Saudi Aramco failed to generate enough cash to cover its dividend, yet left the payout unchanged at $18.75 billion for the third quarter even as profit fell 45% and debt Continue Reading
Mideast Markets Drop on Lower Oil, U.S. Election
Most Middle East equities fell as traders reduced risk before the U.S. election, and amid mounting concerns over pandemic lockdowns and declining oil prices. Kuwait’s Premier Market Index dropped 2.1%, the Continue Reading
OPEC Poses Threat to Itself
OPEC’s effort to shore up world oil markets during the pandemic is facing a new threat — from the group’s own rising production. In the past few months, the resurgent Continue Reading
Oil Crisis And Recession Bring Two African Rivals Closer Together
Times of recession usually bring up overused terms like belt-tightening or company restructuring though distressed periods are just as useful for settling old scores and shaping up new partnerships. Testifying Continue Reading
India seeks to plug energy gap through gas reforms, transition fuels
India will move swiftly to introduce more gas policy reforms to boost the fuel’s share in the energy mix, while finding ways to incentivize production of fuels like hydrogen in Continue Reading
Hurricane Eta Menaces Central America With Devastating Winds
Hurricane Eta has strengthened into one of the Atlantic’s most powerful storms of the year, packing winds of 150 miles (240 kilometers) an hour as it roars toward Central America. The Continue Reading
Argentina Is In Desperate Need Of An Oil Boom
The administration of Argentina’s President Alberto Fernández is growing increasingly desperate to restart the burgeoning oil boom which was underway before the COVID-19 pandemic hit. Argentina has been one of Continue Reading
Can Ecuador Save Its Ailing Oil Sector?
The tiny impoverished Latin American country of Ecuador continues to struggle with its legacy of resource nationalism. Even a push by the current administration of President Lenin Moreno to implement Continue Reading
What would a Joe Biden presidency mean for Venezuela?
‘Whether Trump or Biden wins, we will confront and defeat him,’ Venezuelan President Nicolas Maduro said, leaving little doubt as to his intentions toward whomever finds himself in the Oval Continue Reading
Asian market prices push US LNG feedgas demand to new record above 10 Bcf/d
US LNG feedgas demand has topped 10 Bcf/d for the first time as exports surge amid robust Asian end-user prices. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Climate change: China’s coal addiction clashes with Xi’s bold promise
Cranes and diggers busily prepare land beneath the red and white striped chimneys of the Mengtai Group coal-fired power plant at the northern city limits of Ordos, in northern China’s Continue Reading
China end users told to stop importing Australian coals from Nov 6: sources
Chinese steel mills have received verbal notices from the Ministry of Commerce to stop importing Australian coals starting Nov. 6, several sources close to the matter told S&P Global Platts Continue Reading
S Korea’s dismal jet fuel, diesel demand to keep SK Innovation’s crude runs low
South Korea’s ailing aviation sector and a slowdown in new construction activity will likely continue to weigh on domestic jet fuel and diesel consumption for the rest of the year, Continue Reading
China may award up to 243 mil mt crude import quotas for qualified refineries in 2021
China’s Ministry of Commerce said Nov. 2 that qualified refineries and trading companies will be able to apply for up to 243 million mt (4.86 million b/d) of crude oil Continue Reading
U.S. coronavirus cases keep rising in grim march to Election Day
Coronavirus cases continued their grim climb in the United States on Sunday with Midwestern states experiencing record hospitalizations, as increasingly bitter rhetoric kept the virus front and center of campaigning Continue Reading