OPEC producer Angola plans to raise much-needed cash via selling a stake in its state oil firm Sonangol by early 2022 as the crash in oil prices—and the pandemic—severely weakened Continue Reading
Iraq has taken a major step toward holding early elections by ratifying an election law that addresses some demands of anti-government protesters who blamed the old system for helping perpetuate Continue Reading
Middle Eastern airlines will see passenger demand plunge 73% this year, the largest collapse among all regions, due to pandemic-related related travel restrictions, an official from the International Air Transport Continue Reading
Russia’s Gazprom Neft is planning to launch a fourth well at the Sarqala field in Iraq’s semi-autonomous Kurdistan region in the first half of 2021, which will increase production at Continue Reading
Saudi Aramco needed about 40 minutes to put out the fire caused by a missile strike on a fuel depot in the Red Sea city of Jeddah, with evidence pointing Continue Reading
President-elect Joe Biden introduced nominees for his national-security team during an event in Wilmington, Del., on Tuesday. Photo: Mark Makela/Getty Images European powers are looking to the incoming Biden administration Continue Reading
In the side streets and narrow alleys of Abkhazia’s main city, a low growl and an oily stench are commonplace. Thrumming diesel generators provide power amid rolling blackouts that have Continue Reading
The Nigerian National Petroleum Corporation, NNPC, said it targets to achieve 3million barrels per day, bpd, oil production in no distant time. The Group Managing Director, NNPC, Mele Kyari stated Continue Reading
Mexico has granted full control over natural gas supply in the country to the state utility CFE and the national oil and gas company through a five-year plan for infrastructure Continue Reading
South Korea will close down up to 16 coal-fired power plants for three months from December, out of its 60 coal power plants in total, to help reduce air pollution, Continue Reading
The explosive growth seen in China’s grain demand this year has not been caused by just a temporary supply shortage but signals a structural change in domestic consumption levels, US Continue Reading
Gripped by the accelerating viral outbreak, the U.S. economy is under pressure from persistent layoffs, diminished income and nervous consumers, whose spending is needed to drive a recovery from the Continue Reading
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
What started as a Midwestern surge has grown into coast-to-coast disaster. Over the last two months, rural counties and midsize cities in the Great Plains and Upper Midwest have been Continue Reading
The announcement this week that a cheap, easy-to-make coronavirus vaccine appeared to be up to 90 percent effective was greeted with jubilation. “Get yourself a vaccaccino,” a British tabloid celebrated Continue Reading
Layoffs are rising again and Americans’ incomes are falling, the latest signs that the one-two punch of a resurgent pandemic and waning government aid are undermining the U.S. economic recovery. Continue Reading
JP Morgan. Citi. Morgan Stanley. Goldman Sachs. All of these banks have announced they will no longer finance oil and gas drilling projects in the Arctic, virtue signaling to environmental Continue Reading
As Prime Minister Trudeau reveals his ‘net-zero’ plan for 2050, it is clear that Canada is still very much reliant on its oil industry. The new bill requires Canada to Continue Reading
In the wake of the pandemic, ExxonMobil has significantly lowered its expectations about oil prices for the next seven years, expecting Brent Crude to average between $50 and $55 a Continue Reading
The ongoing energy transition combined with the effects of Covid-19 will drive future oil demand to lower levels than what was expected just months ago. As a result, a plethora Continue Reading
The US natural gas storage withdrawal season started one week later than normal with a below-average draw of 18 Bcf for the week ended Nov. 20 as the Henry Hub Continue Reading
The average retail price for gasoline in the US on Nov. 23 was $2.10/gal, lowest for the first day of the week before Thanksgiving since 2015, according to the US Continue Reading
US crude oil inventories edged lower in the week ended Nov. 20 amid an uptick in refinery demand and exports, US Energy Information Administration data showed Nov. 25. Receive daily Continue Reading
Gripped by the accelerating viral outbreak, the U.S. economy is under pressure from persistent layoffs, diminished income and nervous consumers, whose spending is needed to drive a recovery from the Continue Reading
A memorial to Covid-19 victims in Atlanta. Credit…Audra Melton for The New York Times For anyone tracking the daily number of deaths from the coronavirus as a metric of the Continue Reading
Daily coronavirus -related deaths in the United States have reached levels not seen since the early throes of the pandemic following a surge in the number of those hospitalized, an Continue Reading
The U.S. oil industry is trying to recover from the worst demand shock in the history of oil markets. Some companies launched the long-awaited consolidation in the sector, while many Continue Reading
Janet L. Yellen , the president-elect’s pick to run the treasury at a critical time, may play a crucial role in getting corporations to take global warming seriously if confirmed Continue Reading
The COVID-19-causing coronavirus is mutating as it spreads around the world in the pandemic, but none of the mutations currently documented appears to be making it able to spread more Continue Reading
US electric vehicle manufacturer Tesla plans to turns its Berlin-Gruenheide factory into the world’s largest EV battery plant, CEO Elon Musk said Nov. 24 at a German government-organized EU battery Continue Reading
Disquiet is growing over the way that Oxford university and AstraZeneca have handled the early readout from trials of their coronavirus vaccine, which much of the developing world may rely Continue Reading
Andrew Testa for The New York Times make coronavirus vaccine appeared to be up to 90 percent effective was greeted with jubilation. “Get yourself a vaccaccino,” a British tabloid celebrated Continue Reading
Crude oil futures rose during the mid-morning trade in Asia Nov. 25, extending overnight gains, as vaccine-related enthusiasm and easing political uncertainty in the US cushioned the impact of bearish Continue Reading
The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 3.8 million barrels for the week ending November 20. Analysts had predicted an inventory build Continue Reading
Oil is on the rise after a third company developing a vaccine for Covid-19 announced positive efficacy results this week. They may well continue to rise for a while, but Continue Reading
It’s shaping up to be another warm winter, which could be bad news for natural gas prices. A collection of long-range government and commercial forecasts all point to the southern and Continue Reading
Oil reclaimed heights not seen since the pandemic pummeled prices in the spring, with the start of the U.S. presidential transition and improved vaccine prospects infusing optimism across markets. Prices Continue Reading
An uneven oil demand recovery across different regions and product types will see oil demand climb by 6.3 million b/d in 2021, according to the latest forecast by S&P Global Continue Reading
Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated to July 2020. Continue Reading
As the coronavirus swept across the world, it picked up random alterations to its genetic sequence. Like meaningless typos in a script, most of those mutations made no difference in Continue Reading
Air passenger numbers are set to have weakened by almost 61% in 2020 on the year to 1.8 billion, the International Air Transport Association said in a statement Nov. 24. Continue Reading
International air travel could come booming back next year but with a new rule: Travelers to certain countries must be vaccinated against the coronavirus before they can fly. Encouraging news Continue Reading
The growing global drive to curb emissions has called attention to the processes of carbon capture, utilization, and storage (CCUS), heralded as an indispensable technology that will help the world Continue Reading
Highlights Iraq’s SOMO sent letters to customers informing them of offer Offer included 4 million barrels/month supply over 5 years Supply to be partially pre-paid, SOMO said in letter Dubai Continue Reading
Emirates sees a sharp recovery in demand for air travel next year as coronavirus vaccines are distributed around the world, meaning the carrier’s full fleet of jumbo Airbus SE A380 jets could Continue Reading
Explosions have damaged oil and gas facilities belonging to the Shell Petroleum Development Company of Nigeria and the Nigerian Agip Oil Company around Ikarama in the Yenagoa Local Government Area Continue Reading
India’s gasoline output rose for the second consecutive month to hit a seven-month high in October as robust domestic demand due to the easing of movement restrictions prompted refiners to Continue Reading
After a bout of financial turmoil in Argentina last month, the government has restored calm in the markets and turned its attention once again to the development of Vaca Muerta, Continue Reading
Chinese utilities have been allocated up to 20 million mt of import quotas for seaborne thermal coal for the remainder of 2020 by Chinese authorities, in order to meet near-term Continue Reading
Given China’s burgeoning role in the Middle East – with Iran and Iraq, in particular, irreplaceable staging posts for Beijing’s multi-layered, multi-generational ‘Belt and Road Initiative’ (BRI) – how U.S. Continue Reading
