Baker Hughes Counts Show 15 More Rigs
The rotary rig counts for the US and Canada rose this past week. The rotary rig counts for the United States and Canada increased by a total of 15 this Continue Reading
Michigan governor seeks shutdown of Great Lakes oil pipeline
Michigan Gov. Gretchen Whitmer took legal action Friday to shut down a pipeline that carries oil beneath a channel linking two of the Great Lakes. Whitmer’s office notified Canadian company Continue Reading
Proposed $3.3B gasoline plant in southern Arizona halted
Construction of a proposed gasoline plant in southern Arizona that would have generated more than 2,000 jobs has been halted after the company planning the project reprioritized its projects, a Continue Reading
Biden Means Sales Boost for Volkswagen, GM, Tesla (TSLA), Electric Car Makers – Bloomberg
Although President Obama threw a lifeline to U.S. automakers after the financial crisis, many in the industry were unhappy that his administration also was responsible for fuel economy rules that Continue Reading
Arctic Wildlife Refuge: Trump to Auction Drilling Rights Before Biden Takes Over
The Trump administration is advancing plans to auction drilling rights in the U.S. Arctic National Wildlife Refuge before the inauguration of President-elect Joe Biden, who has vowed to block oil Continue Reading
Enbridge Faces New Fight as Michigan Seeks Line 5 Shutdown
Enbridge Inc.’s battle with Michigan escalated on Friday as the governor took new legal action to shut down a key pipeline that supplies Central Canadian refineries. Governor Gretchen Whitmer filed a complaint Continue Reading
U.S. advanced battery startup Form Energy nabs $70 million in funding: CEO
Form Energy, a startup planning to make battery systems that can efficiently store wind and solar energy for long periods of time, recently landed its biggest batch of funding, its Continue Reading
Velodyne aims to price new self-driving car sensor below $500
Velodyne Lidar Inc VLDR.O said on Friday it would introduce a new lidar unit, a key sensor in self-driving cars, with a target price point of less than $500 and Continue Reading
Trump administration pushes to sell Alaska oil leases pre-Biden inauguration
The Trump Administration will take key steps to finalize a sale of oil drilling leases in the sensitive Arctic National Wildlife Refuge (ANWR) in Alaska just before Democrat Joseph Biden, Continue Reading
Volkswagen Accelerates Investment in Electric Cars as It Races to Overtake Tesla
Volkswagen AG plans to invest around $86 billion in the development of electric vehicles and other new technologies over the next five years, as the world’s largest auto maker races Continue Reading
Moscow launches its 500th electric bus; largest electric bus fleet in Europe
Moscow, Russia has launched its 500 th electric bus—a KAMAZ 6282 electric bus. The KAMAZ 6282 uses lithium-titanate batteries, and has a range of 70 km on one charge. The Continue Reading
Crude oil futures fall on US crude build, pandemic concerns
Crude oil futures fell during the mid-morning trade in Asia Nov. 13, extending overnight losses, after the US Energy Information Administration data showed a large build in US crude inventories, Continue Reading
Oil Drops After Jump in U.S. Stockpiles and Gloomy IEA Forecast
Oil fell for a second day — dropping below $41 a barrel in New York — as the ongoing spread of coronavirus dampens the demand outlook. As well as the ongoing Continue Reading
Growing Crude Inventories Put A Cap On Oil Prices
Crude oil prices fell today after the Energy Information Administration reported an oil inventory build of 4.3 million barrels for the week to November 6. The authority also reported a Continue Reading
EIA Sees WTI Crude Averaging $44 In 2021
WTI Crude oil prices are expected to average $44.24 per barrel next year, the EIA said in its latest Short-Term Energy Outlook (STEO), with the forecast price not much higher Continue Reading
Oil Drops After U.S. Stockpiles Rise, Fed Warns of Covid Risk
Oil dropped after an unexpected increase in U.S. stockpiles and a Federal Reserve warning that a vaccine may not be enough to get the economy back on track. Futures in New York Continue Reading
Oil market rebalancing to make ‘slow progress’ on weak fundamentals, says IEA
The International Energy Agency has trimmed its oil demand estimate for 2020 on the resurgence of coronavirus in Europe and the US and said it does not expect a “significant Continue Reading
Why A COVID Vaccine Won’t Invigorate The Oil Market
For those who have been transfixed on oil demand forecasts over the last eight months, the recent news that Pfizer’s Covid-19 vaccine is 92% successful likely came with a renewed Continue Reading
Adapt Or Die: Refiners Face An Impossible Decision
Refinery conversion and closures: this is the shortest summary of things happening in the downstream industry right now. With the pandemic wreaking havoc on oil—and fuel—demand, refiners have found themselves Continue Reading
Fuel Demand Slump Speeds Up Refinery Closures
Refiners around the world have been announcing permanent closures of refinery capacity this year after the pandemic crushed fuel demand worldwide, and significant overcapacity still remains, the International Energy Agency Continue Reading
Saudi Crown Prince Says Reforms Saved Budget as Revenue Plunged
Saudi Crown Prince Mohammed bin Salman said economic reforms he championed had saved the kingdom from even greater austerity as revenue plunged this year, as he released a rare statement Continue Reading
OPEC+ Getting Closer To Hatching January Plan
The OPEC+ group is getting closer to deciding how to proceed come January, according to several delegates who shared this insight with Bloomberg . After discussing the options, which included Continue Reading
Kurdistan oil for revenue dispute looms large after emergency financing bill passage
Iraq’s Parliament approved a 12 trillion Iraqi dinar ($10.2 billion) stop-gap borrowing law early on Thursday morning — an essential measure to remain solvent through the rest of this year, Continue Reading
The Great Struggle For Iraqi Oil May Be Drawing To A Close
With the announcement last week that the president of Russian state oil proxy Lukoil, Vagit Alekperov, met one-to-one with Iraq’s Prime Minister, Mustafa al-Kadhimi, and its Oil Minister, Ihsan Abdul Continue Reading
Iraqis view Biden victory with cautious hope
Joe Biden’s win in the U.S. presidential election is inspiring guarded optimism among Iraqi political, security, and business leaders, who believe his administration will feature a more predictable foreign policy Continue Reading
African Oil Producers Face Slump In Production
The five largest producers of crude oil in Africa face a combined production decline of 19 percent as a result of the pandemic’s effect on oil demand and the acceleration Continue Reading
Nagorno-Karabakh peace deal ‘good news’ for energy security: Azerbaijan
The ending of weeks of fierce clashes over Nagorno-Karabakh is “good news” for the security of energy supplies to Europe and elsewhere, Azerbaijan’s energy minister, Parviz Shahbazov, said Nov. 12, Continue Reading
U.S. and France play catch-up on Karabakh after Russia deploys troops
MOSCOW/YELPIN, Armenia (Reuters) – France and the United States are expected to send diplomats to Moscow soon to discuss the Nagorno-Karabakh conflict, Russia said on Thursday, two days after the Continue Reading
India’s Sep crude imports fall 10% on month, but Q4 rebound forecast on festive fuel demand
India imported 15.18 million mt, or an average 3.71 million b/d, of crude oil in September, down 9.8% year on year, latest provisional data from the country’s Petroleum Planning and Continue Reading
Will Venezuela’s Economic Crisis Remove Maduro From Power?
In desperation, Maduro’s autocratic regime has turned to Iran, another pariah state, for assistance. The collapse of Venezuela’s once-mighty oil industry has not only caused the Latin American country’s economy Continue Reading
China Oil Giant Eyes Brand New Supertankers to Shrink Fuel Glut – Bloomberg
China’s biggest refiner is eyeing a creative strategy to help rid Asia of a persistent diesel glut — brand new supertankers usually reserved for crude oil. Unipec, the trading arm of Continue Reading
Can Asia Continue Its Crude Oil Buying Spree?
With Europe and North America falling ever deeper into the quagmire of second-wave coronavirus lockdowns and curfews, caution has become the universal buzzword. In Asia, however, the anticipation of worse Continue Reading
Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster
A local governor in Japan has approved plans from utility Tohoku Electric Power to restart one of its nuclear reactors that was damaged in the 2011 earthquake and the following Continue Reading
Australia-China Spat Threatens LNG Deal
A sharp worsening in relations between Australia and China could threaten a deal that would have seen Woodside Petroleum sell a stake in a natural gas field and in the Continue Reading
Renting a Slice of U.S. Oil’s Hot Spot Is 70% Cheaper After Rout
The price to drill an acre of land in the biggest U.S. shale basin has tumbled amid the oil rout, creating conditions ripe for more mergers and acquisitions. Drilling rights Continue Reading
709,000 seek US jobless aid as pandemic escalates
The number of people seeking U.S. unemployment benefits fell last week to 709,000, a still-high level but the lowest figure since March and a further sign that the job market Continue Reading
When Will Electricity Companies Finally Quit Natural Gas?
As Americans suffer through immense wildfires, rising coastal flooding and an epic hurricane season, the nation’s corporations want you to believe they are coming to grips with the climate crisis. Continue Reading
Summary of Weekly Petroleum Data for the week ending November 6, 2020
Summary of Weekly Petroleum Data for the week ending November 6, 2020 U.S. crude oil imports averaged 5.5 million barrels per day last week, up by 470,000 barrels per day Continue Reading
U.S. Wind Capacity Additions Set To Surge To Record In 2020
The United States is on course to see record-breaking 23 gigawatts (GW) of wind turbine capacity additions this year, smashing the previous record from 2012 by nearly 10 GW, the Continue Reading
Lockdowns Hit Supplies For Biofuels
Lockdowns, curfews, and fewer people eating out due to the coronavirus are dwindling the supplies of used cooking oil that is used in renewable fuels production, and refiners are now Continue Reading
Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production
On Thursday morning, Tropical Storm Eta made landfall over North Florida and has become the 12th named storm to make landfall out of a record-breaking year of 29 named storms. Continue Reading
Analysis: Climbing winter demand, lower supply drive up gas prices at Western US hubs
Early winter demand has arrived in California, dipping into storage fields earlier than normal, and pushing SoCal Gas, city-gate prices above the benchmark Henry Hub as lower production in the Continue Reading
US crude supply expands amid unseasonal downturn in refinery demand
US crude oil inventories moved higher in the week ended Nov. 6 amid an unseasonable pullback in refinery demand, US Energy Information Administration data showed Nov. 12. Receive daily email Continue Reading
Listen: US diesel markets soar amid hurricanes’ aftermath
Diesel prices across the US soared last week, reaching multiyear highs in nearly every region. The aftermath of several hurricanes this year curtailed production, and perhaps shut some refineries for Continue Reading
US ELECTIONS: Biden could use financial system against climate woes: activist
A Biden administration could do a lot to act on climate change without acts of Congress, such as adjusting the federal financial system to look at climate as a systemic Continue Reading
Warm weather, strong supply weighs down US gas prices, with some record lows
Natural gas spot prices in the Northeast and Midwest have felt the effects of above-average temperatures and ample supply over the last two weeks, while Southeast and Southwest spot gas Continue Reading
Coronavirus Live Updates: U.S. Cases Top 150,000 for First Time
New U.S. cases topped 150,000 for the first time. Hospitalizations in the U.S. hit another all-time high. California became the second state in the country to surpass one million total Continue Reading
Covid-19: Pandemic Shatters More Records in U.S., as States and Cities Tighten Restrictions – The New York Times
Eight days after the U.S. hit 100,000 cases in a day for the first time, the number topped 160,000 on Thursday. Dr. Anthony Fauci called on the country to “double Continue Reading
Daimler will shrink with shift to electric, autonomous cars: CEO
Daimler DAIGn.DE will be a smaller company five years from now, focused on capturing recurring revenues with software-based services as Mercedes-Benz seeks to redefine luxury in an era of electric Continue Reading
Boris Johnson Seeks Green Jobs for U.K. For Covid Recovery
Prime Minister Boris Johnson is seeking advice from industry on how to create green jobs in the U.K. as unemployment rose at the quickest pace in a decade. The government is Continue Reading