China Set to Allow Australian Coal Cargo Ashore Amid Ban
China is set to allow a shipment of Australian coal into the country, according to a person familiar with the matter, despite a ban on such imports remaining in place Continue Reading
NextEra (NEE)—the Greenest U.S. Energy Giant—Isn’t Trying to Save the Planet – Bloomberg
America’s Greenest Energy Giant Isn’t Trying to Save the Planet It spent millions to block homeowners from embracing solar panels, fought against hydropower, and pushed for an energy project next Continue Reading
Two Coal Companies Bankrupted by Covid as Industry Slides
Lighthouse Resources Inc., a coal company with mines in Wyoming and Montana, and White Stallion Energy LLC, a miner that operates in Indiana and Illinois, both filed for bankruptcy after the Continue Reading
US jobless claims remain high at 712,000 as virus escalates
The number of Americans applying for unemployment benefits fell as the nation celebrated Thanksgiving last week to a still-high 712,000, the latest sign that the U.S. economy and job market Continue Reading
As some pandemic aid ends, what’s next for hurting Americans
Americans who struggled through 2020 could face more hardship in the year ahead as pandemic related payments and protections come to an end. Expanded unemployment benefits will cease by the Continue Reading
US plans oil, gas lease sale in Alaska’s Arctic refuge
The U.S. Bureau of Land Management plans to hold an oil and gas lease sale for Alaska’s Arctic National Wildlife Refuge next month, weeks before President-elect Joe Biden, who has Continue Reading
As Covid-19 Patients Stretch Hospitals, Some Doctors Ration Intensive Care
Sanford Health, the largest health-care system in the Dakotas, says it could see more than 200 additional hospital beds filled in the weeks following Thanksgiving if people gather in large Continue Reading
Chevron Slashes Spending Plans as Coronavirus Hammers Oil Demand
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
California will impose stay-at-home orders in areas where intensive care units are close to capacity.
Dr. Anthony S. Fauci insisted that the F.D.A.’s vaccine approval process was the “gold standard” after British regulators moved first to approve one.Credit…Stefani Reynolds for The New York Times A Continue Reading
Will Falling Drilling Costs Fuel A U.S. Shale Rebound?
Even though the U.S. shale patch has further reduced its break-evens over the past year, the decline in drilling costs alone may not be sufficient to help producers to lift Continue Reading
Oil Major Chevron Slashes Spending Plans Following COVID Crisis
Chevron Corporation is reducing its capital and exploratory budget for the next five years by billions of U.S. dollars compared to previous guidance as it looks to save its dividend Continue Reading
Saudi Oil Exports To U.S. Slump To 35-Year Low
Saudi Arabia’s crude oil exports to the United States fell to the lowest in 35 years in October, averaging less than 100,000 bpd, Bloomberg reported , citing preliminary and historical Continue Reading
US working natural gas volumes in underground storage fall 1 Bcf: EIA
US natural gas in storage fell only 1 Bcf during the week that featured the Thanksgiving holiday in the US, drawing down Henry Hub futures further, but withdrawals should return Continue Reading
Weekly US coal production totals 10.6 million st, down 5.2% on week: EIA
Weekly US coal production was estimated at 10.6 million st in the week ended Nov. 28, down 5.2% from the previous week, Energy Information Administration data showed Dec. 3. Receive Continue Reading
The Death Of U.S. Shale Has Been Greatly Exaggerated
The current year marks the 15th anniversary of the U.S. shale boom, a period in which fracking technology across such states as Texas, Colorado, New Mexico, North Dakota, and Wyoming Continue Reading
Tough Macron stance leaves Brexit deal hanging in balance
Emmanuel Macron, French president, wants to preserve a substantial chunk of existing fishing rights for the French fleet in British waters after Brexit and is also insisting on a strict Continue Reading
France Will Veto Any Brexit Deal It Sees as Unsatisfactory
France will veto any trade deal between the U.K. and the European Union that doesn’t respect its interests, French European Affairs Minister Clement Beaune said on Friday. “If there is a Continue Reading
Airbus (AIR:FP) Bets on Hydrogen to Deliver Zero-Emission Planes
There are plenty of obstacles standing in the way of developing the first zero-emission, hydrogen-powered plane. It’s tricky to safely store and use the highly combustible fuel. There aren’t any Continue Reading
Brussels warns Poland and Hungary they cannot stop EU recovery fund
The EU budget commissioner has warned Poland and Hungary that Brussels is ready to cut them out of the recovery fund and proceed with the project without them if they Continue Reading
Denmark to end all North Sea oil, gas production by 2050, bans new exploration
Denmark’s government agreed late Dec. 3 to end oil and gas exploration and production in the North Sea by 2050, as well as canceling its latest licensing round. Receive daily Continue Reading
Crude oil futures retreat after overnight rally on vaccine news, US stock draw
Crude oil futures slipped during mid-morning trade in Asia Dec. 3 after rallying overnight following fresh reports of COVID-19 vaccine approvals in the UK, crude oil inventory draw in the Continue Reading
S&P Global Platts proposes inclusion of WTI crude in Dated Brent benchmark
Highlights Eyes WTI Midland inclusion from March 2022 Some 440,000 b/d of WTI exported to Europe US crude exports have surged to nearly 3 million b/d S&P Global Platts has Continue Reading
Oil Steady Before Pivotal OPEC+ Meeting on Production Policy
Oil fell before an OPEC+ meeting as powerbrokers in the alliance haggle over output policy after failed talks earlier in the week. Futures in New York traded near $45 a barrel. Continue Reading
Oil Prices Finish Higher on US Draw and OPEC+ Signs
Oil jumped the most in a week after a surprise decline in U.S. crude inventories and signals that OPEC+ made progress toward a widely anticipated deal on extending output curbs. Continue Reading
Has peak oil been and gone?
If I had of said to most of you reading this a year ago that 2020 would see negative oil prices , the world economy collapse and record highs in Continue Reading
Big Oil Is Shedding Assets To Focus On Key Projects
Exxon this week did something unprecedented: it wrote down its gas assets by a massive $17 to $20 billion. In evidence that the crisis has finally gotten to the world’s Continue Reading
Slow Progress on Energy Efficiency Is a Problem for the Climate
Global efforts to reduce wasted energy have faced a major setback in 2020, sidelining a relatively simple way of slashing emissions and hitting climate goals. That’s the conclusion from an International Energy Continue Reading
OPEC+ Talks Said to Focus on Proposals for Gradual Taper of Cuts
OPEC+ is closing in on an agreement on output cuts after days of tense negotiations, according to delegates. After direct talks between the group’s heavyweights — Russia, Saudi Arabia and the Continue Reading
OPEC+ Works Silently to Repair Cracks
After failed talks exposed a dangerous fissure at the alliance’s core, OPEC and its partners are quietly working to repair the damage. Key players in the 23-nation alliance are making Continue Reading
OPEC+ Closes In on Deal as Talks Focus on Gradual Taper of Cuts
OPEC+ is closing in on an agreement on output cuts after days of tense negotiations, according to delegates. After direct talks between the group’s heavyweights — Russia, Saudi Arabia and the Continue Reading
OPEC, Allies Near Agreement for Small Production Increase
The Organization of the Petroleum Exporting Countries and its allies are closing in on an agreement to modestly boost their collective oil output by as much as 500,000 barrels a Continue Reading
OPEC+ economic inequalities complicate knife edge oil diplomacy
Agreeing on oil quotas isn’t the only problem vexing the OPEC+ group. COVID-19 has amplified the economic disparity between poor and wealthy members of the producer alliance, adding to the Continue Reading
Saudi Arabia and Qatar Near US-Brokered Deal to End 3-Year Rift
OPEC+ is closing in on an agreement on output cuts after days of tense negotiations, according to delegates. After direct talks between the group’s heavyweights — Russia, Saudi Arabia and the Continue Reading
Saudi Arabia, Qatar Near U.S.-Brokered Deal to End Lengthy Rift
Saudi Arabia and Qatar are nearing a preliminary deal to end a rift that’s dragged on for more than three years, prodded by a Trump administration seeking foreign policy wins Continue Reading
Iran Moves to Increase Uranium Enrichment and Bar Nuclear Inspectors
Centrifuges in the Natanz uranium enrichment plant in central Iran last year.Credit…Atomic Energy Organization of Iran, via Associated Press Iran passed a law on Wednesday to immediately begin enriching uranium Continue Reading
How China Took Control Of Exxon’s Supergiant Iraqi Oilfield
Various reports that Chinese oil giants, China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are ‘considering acquiring’ U.S. oil titan ExxonMobil’s 32.7 per cent stake in Continue Reading
Libya Moves Closer To Resolving Quarrel Over Oil Revenues
Libya’s UN-recognized government said on Wednesday that an urgent meeting of all stakeholders involved had agreed to work toward unfreezing Libya’s oil revenues, an essential part of the OPEC member’s Continue Reading
Iran expands shrines and influence in Iraq
In September, a senior Iranian commander made an unannounced visit to one of Shi’ite Islam’s holiest sites in the southern Iraqi city of Kerbala. Hassan Pelarak, a top officer in Continue Reading
Iran watchdog passes law on hardening nuclear stance, halting U.N. inspections
Iran’s Guardian Council watchdog body approved a law on Wednesday that obliges the government to halt U.N. inspections of its nuclear sites and step up uranium enrichment beyond the limit Continue Reading
India Desperate To Diversify Oil Imports
India has announced its intention to resume oil imports from Iran and Venezuela, as part of its objective to diversify its oil suppliers. Imports from Iran and Venezuela were halted Continue Reading
ExxonMobil plans up to 10 FPSOs to develop Guyana’s Stabroek block
ExxonMobil could install as many as 10 floating production, storage and offloading vessels, or FPSOs, at the Stabroek block off the coast of Guyana, the company’s manager for deepwater projects Continue Reading
Venezuela’s Gasoline Shortage Is Worsening
Venezuela’s state oil company PDVSA suspended gasoline production at the El Palito refinery after a problem with a valve led to a fire, unnamed sources familiar with the incident told Continue Reading
Venezuela’s Oil Exports Double in November As Mysterious New Buyers Emerge
Venezuela’s oil exports doubled in November, data from PDVSA and Refinitiv Eikon showed on Wednesday. Venezuela’s crude oil exports were less than 370,000 barrels per day in October, on average. Continue Reading
An Energy Trade War Is Brewing Between China And The U.S.
It may be a lame duck session, but Donald Trump’s presidency is far from over, and neither is his trade war with China. Just a few days ago the sitting Continue Reading
Big Companies Urge Biden, Congress to Address Climate Change
President-elect Joe Biden introduced nominees for his national-security team during an event in Wilmington, Del., on Tuesday. Photo: Mark Makela/Getty Images WASHINGTON—A broad cross section of big U.S. corporations including Continue Reading
US wind project delay pushes approval to Biden era
The first commercial-scale US offshore wind power project has delayed its application for federal approval in a move that will leave a final decision in the hands of a renewables-friendly Continue Reading
Summary of Weekly Petroleum Data for the week ending November 27, 2020
Summary of Weekly Petroleum Data for the week ending November 27, 2020 U.S. crude oil imports averaged 5.4 million barrels per day last week, up by 171,000 thousand barrels per Continue Reading
US refined product inventories climb as demand tests multimonth lows
US refined product inventories climbed in the week ended Nov. 27 as the pandemic blunted demand during the typically travel-heavy US Thanksgiving Day holiday weekend. Receive daily email alerts, subscriber Continue Reading
CDC chief warns Americans face ‘rough’ winter from COVID-19 surge
The head of the U.S. Centers for Disease Control and Prevention warned on Wednesday the COVID-19 pandemic, still raging with unprecedented fury nationwide, will pose the country’s grimmest health crisis Continue Reading
Coronavirus-Stimulus Efforts Pick Up Speed
As the U.S. faces a third surge of Covid-19 cases and the prospect of more business shutdowns, there is a growing call for Congress to pass a new stimulus package. Continue Reading