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Month: December 2020

Category:
  • Prices

Crude oil futures tick lower as traders take profit after overnight rally

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Prices

Oil set for 20% drop in 2020 as lockdowns weigh, market eyes more stimulus

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Prices

Oil rally extends amid larger-than-expected US crude draw, export surge

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Prices

Oil prices rise as U.S. crude stock draw supports but demand hopes dim

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Prices

Five things to watch in 2021 after oil’s wild ride this year

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Azerbaijan
  • Saudi Arabia

Saudi Arabia’s ACWA Power to Build Wind Park in Azerbaijan

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • OPEC

OPEC+ Compliance Continues To Exceed 100%

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Iran
  • Iraq

Iran To Buy Covid Vaccines With Income From Gas Exports To Iraq

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Iran
  • USA

U.S. sees new signs of advanced planning for an Iran-linked attack on American interests

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Yemen

Yemen Airport Is Attacked as New Government Arrives

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Yemen

Yemen Airport Attack Kills 22 as New Saudi-Backed Government Arrives

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Libya

Libya sets sights on continuing oil sector revival

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Pakistan

Pakistan to buy costliest LNG amid increasing gas shortage

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Venezuela

Greek Shipowners Easily Evade Venezuela Oil Sanctions

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Colombia

Fracking Could Save Colombia From Economic Crisis

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Venezuela

Can Venezuela’s Oil Industry Bounce Back With The Help Of Iran?

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Electric Cars

ABI: 2021 will be the year EVs begin entry into the automotive mainstream

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Climate
  • Japan
  • Vietnam

Japan Approves Funding for Vietnam Coal Power Plant, Risking Green Group Critics – Bloomberg

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Shale Oil

U.S. energy execs see capital spending rising in 2021 – Dallas Fed survey

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Shale Oil

Oil Drilling in U.S. Ends Fraught 2020 at Pre-Shale Levels

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • USA

Weekly US coal carloads total 50,742, down 12.5% on week: AAR

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Shale Oil

Oilfield Service Giants Are Expanding Beyond Oil Tech

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Hydrogen
  • Russia

Russia Looks To Become Leader In Hydrogen Tech

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Russia

Russia’s Gazprom Gets New Natural Gas Rival in Europe With New Azerbaijan Flow – Bloomberg

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • coronavirus
  • United Kingdom

UK faces ‘dangerous situation’ as new Covid cases surge

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Hydrogen
  • Scotland

Scottish Enterprise project converting train to hydrogen power

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

Posted On : 31 Dec 2020 Published By : Tom Whipple
Category:
  • Prices

Crude oil futures rise on bullish API data

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Prices

Oil up on hopes of demand recovery, lower U.S. inventories

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Prices

Oil Futures Advance Amid Weaker $2,000 Stimulus Prospects

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Prices

Oil rises on hopes U.S. pandemic stimulus will spur fuel demand

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Oil Supply

Five things to watch in 2021 after oil’s wild ride this year

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • USA

Annual Energy Outlook Retrospective Review

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • coronavirus

Ten Ways Covid-19 Has Changed the World Economy Forever

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Economy

The Energy Sector To Watch In 2021

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Climate

World record for high air pressure may have been set in Mongolia

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Iran
  • Iraq

Iran Cuts Power Supply To Iraq On Unpaid Debt

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Iraq

Iraqi Kurdistan Finally Moves To Develop Massive Gas Resources

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Angola

How Angola Can Keep Its Oil Production From Falling

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Nigeria

New Regulations Could Kill Nigeria’s Promising Deepwater Oil Industry

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • India

Delhi’s Clean Power Goal Has a Problem: Idled Fossil Fuel Plants

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Brazil

Can Anything Stop Brazil’s Massive Oil Boom?

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Venezuela

UAE emerges as hub for companies helping Venezuela avoid U.S. oil sanctions

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • China
  • coronavirus

China Has All It Needs to Vaccinate Millions, Except Any Approved Vaccines

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Climate
  • USA

Extreme U.S. weather in 2020: Wildfires, hurricanes, tornadoes

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Shale Oil

Despite current macro conditions, Permian Basin has plenty of life

 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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • coronavirus
  • USA

First U.S. Case of Highly Contagious Coronavirus Variant Is Found in Colorado

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Natural Gas Supply

US gas storage stocks set for higher-than-average draw in final full week of 2020

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Nuclear

Floating ‘mini-nukes’ could power countries by 2025, says startup

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • Nord Stream

Nord Stream 2: Russia Advances on Gas Pipeline to Germany as U.S. Sanctions Loom

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

Posted On : 30 Dec 2020 Published By : Tom Whipple
Category:
  • coronavirus
  • United Kingdom

Covid: UK surge in cases an ‘extreme concern’

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

Posted On : 30 Dec 2020 Published By : Tom Whipple

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