Coal Consumption Set to Jump In 2021
Coal consumption is set for a rebound of 2.6 percent next year as the world’s heavy industry emerges from the pandemic crisis, the International Energy Agency said in its latest Continue Reading
The Oil Market Is Still In Trouble
COVID Market Update Despite the vaccine optimism prevalent in the market that has successfully boosted oil prices to February levels, the oil market is still in trouble. OPEC has once Continue Reading
Will 2021 Be a Quieter Year for Energy Bankruptcies?
Better days may be ahead for energy companies after a busy year of bankruptcies, with the coronavirus pandemic culling the weakest borrowers and investors pricing in a sharp economic recovery Continue Reading
IRENA sees renewable hydrogen at least cost-possible within decade
Hydrogen produced with renewable electricity could compete on costs with fossil fuel alternatives by 2030, according to a new report from the International Renewable Energy Agency (IRENA). A combination of Continue Reading
Libya’s Oil Production Rises Further
Libya’s crude oil production continues to increase as one of its companies has nearly doubled its output to 100,000 barrels per day (bpd) compared to production levels before the blockade Continue Reading
Oil, Gas Rigs Increase For Fourth Week In A Row
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 5 to 263. The total number of active oil and gas rigs increased Continue Reading
Even with devalued currency, new Iraqi budget proposes record deficits
Iraq is moving forward with plans to devalue its currency by nearly 23 percent in response to a dire financial crisis — an extreme policy measure that will not come Continue Reading
Nigeria’s commercial capital, Lagos, shuts schools amid COVID-19 spike
Nigeria’s commercial capital, Lagos, ordered schools to shut indefinitely, banned concerts, carnivals and street parties and ordered certain civil servants to work from home amid a spike in new cases Continue Reading
India hits 10 million coronavirus cases but pace slows
India exceeded 10 million infections of the new coronavirus on Saturday, much later than predicted only a month ago as the pace of infections slows, despite many in the country Continue Reading
China’s Top Refiner Sees Oil Product Demand Peak By 2025
China’s largest refiner, Sinopec, expects domestic demand for oil products to peak by 2025 due to COVID impacts and the rise of electric vehicles, Argus reported on Friday, citing Sinopec’s Continue Reading