Leaders of the global economy are warning that the recovery from this year’s recession is at risk and could be derailed as the resurgence of Covid-19 forces fresh restrictions on Continue Reading
It all started with Hurricane Hanna, which swirled in from the Gulf of Mexico to Padre Island, Tex., on July 25. Originally forecast to move into South Texas as a Continue Reading
While the OPEC+ group considers extending the production cuts for three months, oil output in Libya continues to increase and has returned to 1.25 million bpd, the level the OPEC Continue Reading
While many Gulf nations were already working to diversify their economies prior to the coronavirus pandemic, the subsequent economic downturn and collapse in oil prices has meant that governments in Continue Reading
Arab Gulf oil producers are losing billions of U.S. dollars from oil revenues this year due to the pandemic that crippled oil demand and oil prices. Because of predominantly oil-dependent Continue Reading
Anonymous UAE officials claimed earlier in the week that the country was considering breaking away from OPEC, citing the difficulties it is facing due to the stringent production cuts it Continue Reading
The United Arab Emirates ratcheted up tension with oil allies in OPEC+, with officials privately questioning the benefits of being in the producers’ alliance and even considering whether to leave Continue Reading
Fuel shortages in Venezuela are so bad amid the deepening crisis at its state oil firm that Venezuelans are stealing crude oil from idle oilfields and processing it at home Continue Reading
Opposition leader Juan Guaidó, whom the U.S. considers Venezuela’s legitimate president, during a rally last month. Creditors from hedge funds to oil companies are moving closer to seizing billions of Continue Reading
While oil demand in Europe and the United States continues to disappoint, refiners in Asia are racing to procure crude from around the world, giving the oil market some hope Continue Reading
American hospitals are reeling as another spike in cases threatens to overwhelm capacity and drive up deaths. Almost 80,000 patients are hospitalized with Covid-19 in the U.S. — another high in Continue Reading
Like a tree without roots or a body without a spine, New York City would collapse without its subway system. That kind of dire outcome is a real risk if Continue Reading
A group of investment firms, conservationists and indigenous groups have called on some of the world’s biggest insurers to cease supporting oil and gas projects in the U.S. Arctic National Continue Reading
General Motors says a pending breakthrough in battery chemistry will cut the price of its electric vehicles so they equal those powered by gasoline within five years. The technology also Continue Reading
The number of Americans seeking unemployment aid rose last week to 742,000, the first increase in five weeks and a sign that the resurgent viral outbreak is likely slowing the Continue Reading
Natural-gas stockpiles are 8% above last year’s levels and 6.2% above their five-year average for this time of year. Natural-gas prices fell Thursday, extending a recent November slide with moderate Continue Reading
The US oil and natural gas rig count rose by three to 382, Enverus said Nov. 19, ahead of the Thanksgiving holiday week when drilling typically slows as upstream budgets Continue Reading
Oil tanks in America’s most important crude storage hub are filling to the brim once again, quickly approaching the critical levels reached in May after prices crashed. Stockpiles at Cushing, Oklahoma, Continue Reading
General Motors Co GM.N Chief Executive Mary Barra said the Detroit automaker is accelerating an “all out pursuit of global EV leadership,” challenging electric vehicle leader Tesla Inc TSLA.O with Continue Reading
The 9 percent fall has been partially offset by extreme forest fires The coronavirus pandemic triggered a sharp drop in air travel and in greenhouse gas emissions, which fell a Continue Reading
Crude oil futures ticked lower during the morning trade in Asia Nov. 19, after data from the Energy Information Administration showed a small build in US commercial crude inventories, and Continue Reading
Oil was steady near a two-month high as investors weighed tighter U.S. restrictions to curb the virus spread and emerging cracks in the united front put up by OPEC+ as Continue Reading
Oil rose toward $42 a barrel in New York as signs of a robust demand recovery in Asia offset a jump in U.S. crude stockpiles. (Bloomberg) — Oil rose toward Continue Reading
When the diesel-powered MS Selandia set sail on her maiden voyage in February 1912, people were so astonished by the sight of an ocean liner that didn’t spew steam they named it Continue Reading
The OPEC+ group has overproduced as much as 2.346 million barrels per day (bpd) over their collective quota since the start of the record production cuts, a source with knowledge Continue Reading
Saudi Aramco returned to the debt markets for the first time since April of last year, selling $8 billion of bonds to help fund the world’s biggest dividend. The state oil Continue Reading
Do you remember peak oil? It was all the rage a decade ago. Now, almost no one is talking about it. The funny thing is, the problem never went away. Continue Reading
The US Treasury Department Nov. 18 leveled sanctions against Iran’s Islamic Revolution Mostazafan Foundation, a conglomerate of holdings in Iran’s economy, including the energy sector. Not registered? Receive daily email Continue Reading
Iraq plans to invite international companies to compete in order to build a 300,000 b/d refinery south of the country, the oil minister said Nov. 18, as OPEC’s second largest Continue Reading
OPEC has suffered immensely under the pandemic and subsequent oil demand loss, and its job could now become significantly more challenging as members mull the pros of staying with the Continue Reading
In a hard-fought campaign Democrat Joe Biden won the November 2020 U.S. presidential race beating incumbent Donald Trump. There were considerable fears in the run-up to the election that a Continue Reading
Nearly one million people have taken an experimental coronavirus vaccine developed by China National Pharmaceutical Group (Sinopharm) through the country’s emergency use programme, the firm said late on Wednesday. China Continue Reading
US petroleum demand tumbled last week amid surging coronavirus cases, setting the scene for a lacklustre Thanksgiving holiday period were more American motorists opt to stay home. Petrol demand fell Continue Reading
An aerial view of mostly harvested farmland at sunset on Oct. 30, 2020 in Lacona, Iowa. Credit: Mario Tama/Getty Images The American Farm Bureau Federation, the country’s largest and most Continue Reading
President-elect Joseph R. Biden Jr., eager to elevate climate change issues throughout his administration, is already drafting orders to reduce planet-warming pollution and seeking nominees who will embed climate policy Continue Reading
TC Energy Corp TRP.TO says it is continuing to advance its Keystone XL (KXL) oil pipeline, the $9 billion project that would move oil from the province of Alberta to Continue Reading
Summary of Weekly Petroleum Data for the week ending November 13, 2020 U.S. crude oil imports averaged 5.3 million barrels per day last week, down by 245,000 barrels per day Continue Reading
A Joe Biden administration is bound to usher in a 180-degree pivot on climate change from the outgoing presidency. But with control of the Senate hanging in the balance with Continue Reading
The twin challenges of low oil prices and uncertain demand recovery that has resulted from the coronavirus pandemic this year – which with more clarity might lift prices somewhat –did Continue Reading
This analysis concerns C&C only. Natural gas production is low and steadily declining with few deep gas-condensate discoveries and the shallow dry gas fields at end of life. I don’t Continue Reading
In a move that came as a surprise to some, today’s oil and gas lease round in the U.S. Gulf of Mexico generated substantial interest on Wednesday. The sum of Continue Reading
After a wave of bankruptcies in the third quarter, oil producers and oilfield services companies in the U.S. shale patch continued to file for protection from creditors at the start Continue Reading
Perspectives from Eastern Europe and particularly Russia are so far underrepresented in degrowth debates. Translated from its original Russian, the piece below showcases an interview with a prominent British-Russian academic, Continue Reading
Boris Johnson on Wednesday unveiled a sweeping package of measures designed to zero out Britain’s greenhouse gas pollution by mid-century. The announcement shows just how long that road will be. Continue Reading
Russia is planning a major foray into LNG that needs to be completed by 2030, while LNG projects are still profitable. This is not a rumor circulating the Kremlin corridors Continue Reading
The centre, based in Luxembourg, is also expected to contribute to economic growth by supporting commercial initiatives and start-ups, offering a business incubation component and enabling technology transfer between space Continue Reading
The UK’s refining sector has voiced its opposition to the UK plans to bring forward a ban on sales of new gasoline and diesel cars to 2030, calling for more Continue Reading
The UK is bringing forward a ban on sales of new gasoline and diesel cars to 2030 while maintaining a 2035 cut-off for hybrids — vehicles that include battery propulsion Continue Reading
UK Prime Minister Boris Johnson confirmed that the government will accelerate the ban on the sale of new gasoline and diesel vehicles, bringing it forward by ten years to 2030, Continue Reading
The European Union wants a massive increase in offshore wind to help clean up the electricity industry and aid the recovery after the pandemic. To meet its mid-century goal of becoming Continue Reading
