Crude oil futures ticked lower during midmorning trade in Asia Dec. 31 as traders engaged in profit-taking after bullish data from the US Energy Information Association pushed prices higher overnight. Continue Reading
Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralysed much of the global economy, but prices have rebounded strongly from Continue Reading
Oil futures settled higher Dec. 30 on the heels of a larger-than-expected US inventory draw. NYMEX February WTI settled 40 cents higher at $48.40/b, and ICE January Brent climbed 25 Continue Reading
Oil prices settled higher on Wednesday, supported by a draw in U.S. crude inventories and Britain’s approval of a second coronavirus vaccine but pressured by swelling year-over-year supply. Brent crude Continue Reading
After a short but highly damaging price war, Opec and Russia enacted record supply cuts to stabilise the market. But even then, companies were forced to rip up investment plans Continue Reading
Azerbaijan signed agreements with Saudi Arabia’s ACWA Power for the construction of a 240-megawatt wind park. Azerbaijan’s Energy Minister Parviz Shahbazov and his Saudi counterpart, Crown Prince Abdulaziz bin Salman, attended Continue Reading
OPEC+ fully complied with the supply cuts in November that the group agreed on, two sources from the group told Reuters. OPEC+ is scheduled to meet on January 4 to Continue Reading
Iran will use part of the proceeds from its electricity and natural gas exports to Iraq to buy COVID-19 vaccines from Europe, Iranian state media reported on Wednesday, quoting Energy Continue Reading
The U.S. military is bracing for a possible attack on American personnel and interests in Iraq, U.S. defense officials said, days before the first anniversary of an American drone strike Continue Reading
An attack on an airport in Aden, Yemen, killed at least 20 civilians and wounded about 100 on Wednesday just as a plane carrying members of the country’s newly formed Continue Reading
An attack on an airport in Yemen killed at least 22 people moments after members of the country’s newly sworn-in cabinet arrived, the latest blow to a country struggling to emerge Continue Reading
Libya’s state-owned NOC aims to make further progress in rebuilding the country’s oil sector next year, buoyed by the rapid recovery in crude production since port and field blockades were Continue Reading
Islamabad: With an increasing gas crisis in the country, Pakistan will be buying an all-time high priced Liquefied Natural Gas ( LNG ) for February 2021. The Pakistan LNG Limited Continue Reading
In January 2019, the Trump administration imposed sanctions on Venezuela’s oil shipping sector in an ongoing bid to force President Nicolás Maduro from power. The sanctions deepened Venezuela’s already severe Continue Reading
Colombia country is facing its worst economic catastrophe of modern times because of the global COVID-19 pandemic. The IMF believes that the strife-torn Latin American country’s economy will shrink by Continue Reading
After five years of plunging oil production and experiencing the near-collapse of its economically crucial petroleum industry and the worst peacetime economic crisis of the modern age, there are signs Continue Reading
2021 will kickstart a decade of growing Electric Vehicle (EV) adoption, which will see EV sales move from a rounding error of total new vehicle shipments to more than a Continue Reading
Japan approved a plan to help finance a long-planned coal power plant in Vietnam, despite the government’s pledge to curb overseas investments in dirtier technology and cut emissions at home. The Continue Reading
About half of U.S. energy company executives polled by the Federal Reserve Bank of Dallas expect their firms to increase capital spending in 2021, and another quarter of respondents see Continue Reading
The crisis that enveloped the oil industry in 2020 can be measured in various ways, but in the U.S. there may be no better single gauge than the tally of Continue Reading
Weekly US coal carload originations totaled 50,742 in the week ended Dec. 26, down 12.5% from the previous week, Association of American Railroads data showed Dec. 30. Not registered? Receive Continue Reading
The oilfield services sector is usually the one to suffer the most during an oil and gas industry downturn. This last crisis has been no exception in most respects. Drilling Continue Reading
Russia’s mineral and energy wealth has given it a second chance in global affairs after the Cold War and the implosion of the Soviet Union. Oil and gas exports have Continue Reading
Azerbaijan started commercial natural gas exports to Europe via the U.S.-backed Southern Gas Corridor, helping the region to diversify supplies away from Russia. Gas pumped from the BP Plc-led Shah Deniz deposit Continue Reading
The UK is in a “very dangerous situation” in its battle against coronavirus, facing a “grim and depressing picture” of rising infections and deaths as millions more were placed under Continue Reading
Scottish Enterprise, Transport Scotland and the Hydrogen Accelerator, based at the University of St Andrews, have appointed Arcola Energy and a consortium of industry leaders in hydrogen fuel cell integration, Continue Reading
Crude oil futures ticked up during midmorning trade in Asia on Dec. 30 as bullish data from the American Petroleum Institute boosted market sentiment, even as new cases of the Continue Reading
Oil gained ground on Wednesday as a U.S. coronavirus fiscal aid package and a decline in crude oil inventories lifted prices. Base Brent crude futures rose 35 cents, or 0.7%, Continue Reading
Oil eked out a gain as prospects for bigger US aid checks dissipated. (Bloomberg) — Oil eked out a gain as prospects for bigger U.S. aid checks dissipated, tamping expectations Continue Reading
Oil prices climbed on Tuesday on hopes the United States will expand pandemic aid payments, a move that could spur fuel demand and stimulate economic growth. U.S. West Texas Intermediate Continue Reading
The oil sector was hit harder than almost any other by the pandemic. Crude prices fell from near $70 a barrel at the beginning of the year to below $20 in Continue Reading
The U.S. Energy Information Administration (EIA) projects U.S. energy production, consumption, and prices each year in the Annual Energy Outlook (AEO). Every two years, EIA also produces the AEO Retrospective Continue Reading
Economic shocks like the coronavirus pandemic of 2020 only arrive once every few generations, and they bring about permanent and far-reaching change. Measured by output, the world economy is well on Continue Reading
The year 2020 has been unusually volatile for the U.S. financial market, but more so for the energy sector thanks to nationwide lockdowns and subsequent fuel demand destruction. It’s become Continue Reading
A brutally cold dome of high pressure across eastern Asia has produced what may be the highest barometric pressure readings ever documented on planet Earth — with an important qualifier. Continue Reading
Iran has reduced exports of natural gas to its neighbor Iraq claiming the latter owed it more than $6 billion for supplies already made. The cuts were made two weeks Continue Reading
In tandem with Iraq’s reiterated target for crude oil production of 7 million barrels per day (bpd) by 2025, from the previous 5 mbpd, Baghdad has also stated that it Continue Reading
There seems to be a point of saturation when it comes to assessing Angola’s crude exports for the upcoming months – beyond a certain point it serves as no surprise Continue Reading
Nigeria may lose up to 38 percent of its deepwater oil production under the terms of the proposed new Petroleum Industry Bill, Nigerian daily Punch reports, adding that this could Continue Reading
India’s capital city is seeking to shed its onerous contracts with fossil fuel power plants to reduce costs and free up funds for clean energy. Tata Power Delhi Distribution Ltd., which Continue Reading
The COVID-19 pandemic had a sharp impact on oil prices, creating considerable uncertainty over the outlook for energy demand around the globe. The ongoing global crude oil supply glut and Continue Reading
In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s Continue Reading
India’s capital city is seeking to shed its onerous contracts with fossil fuel power plants to reduce costs and free up funds for clean energy. Tata Power Delhi Distribution Ltd., which Continue Reading
As most of us are breathing a sigh of relief that 2020 is just about over, many meteorologists are doing the same thing. The year featured devastating wildfires and hurricanes, Continue Reading
Any centenarian expects to be questioned about her longevity, and that’s especially true of the US’ biggest, most prolific oil reservoir. And like human centenarians, the Permian Basin’s long life Continue Reading
The first United States case of the more contagious coronavirus variant that was initially discovered in Britain was found in Colorado on Tuesday, Gov. Jared Polis said, raising the worrisome Continue Reading
US natural gas in storage likely fell by a margin much higher than the five-year average once again last week despite the Christmas holiday, which typically douses demand. Receive daily Continue Reading
The first floating nuclear power unit in 40 years, the Akademik Lomonosov. This story was originally published by The Guardian and is reproduced here as part of the Climate Desk Continue Reading
Russia is stepping up work on the Nord Stream 2 pipeline before the U.S. tightens sanctions against the controversial project designed to feed more natural gas into Germany. Construction of the Continue Reading
A surge in coronavirus cases in the UK is of “extreme concern”, a health boss says, as a record number of cases was reported for the second day running. On Continue Reading
