With an eye on US sanctions relief once US President-elect Joe Biden takes office, Iran’s leaders have ordered its oil sector to prepare to ramp up production and exports in Continue Reading
China moved in more wheat from the US ports in the week that ended Dec. 17, registering a fifth straight week of US wheat shipments, indicating Chinese buyers’ interest in Continue Reading
China’s gasoline and gasoil exports took a break in November from the highs reported in October amid improving domestic demand, while jet fuel outflow inched higher as demand from international Continue Reading
The Chinese Communist Party’s new pledge to fix the “demand side” of the economy has prompted expectations the leadership will implement more egalitarian policies to stimulate consumer spending. The Party’s top Continue Reading
Even with air travel surging ahead of the Christmas holiday in the U.S., demand for jet fuel is unlikely to fully recover anytime soon. Foot traffic through airports last weekend topped Continue Reading
The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak Continue Reading
Russian Deputy Foreign Minister Sergei Ryabkov has accused the incoming administration of President-elect Joe Biden of “Russophobia” and says he expects relations with the United States to go “from bad Continue Reading
Baker Hughes reported on Wednesday that the number of oil and gas rigs in the United States rose by 2 to 348. The oil and gas rig count has risen Continue Reading
Highlights Coal generation at six-month low in October Renewable generation share of 19.3% in October Houston — US coal-fired power generation totaled 59.8 TWh in October, down 12.5% from September, Continue Reading
Robotics company Nuro on Wednesday received the first-ever permit to commercially deploy its self-driving vehicles in California, allowing the Silicon Valley firm to charge clients for its driverless delivery service. Continue Reading
This is a big story about what Exxon Mobil knows. But it’s also about what Exxon—and its peers in the oil industry as a whole—want investors, decision makers and the Continue Reading
New energy tech is undergoing a metamorphosis at breakneck speed, whether it’s the stock-boosting driverless Apple car or even masks for cows. Sometimes it’s simply mind-blowing and other times it’s Continue Reading
After the novel coronavirus turned the entire energy industry on its head, much of the world took the hint and dove headlong into the global clean energy transition, some in Continue Reading
US working natural gas stocks fell well below the five-year average last week, but within expectations, while Henry Hub futures fell following the announcement despite another above-average draw likely for Continue Reading
Britain and the European Union appeared close to clinching a long-elusive trade agreement on Wednesday, raising hopes that the estranged allies were now set to avoid a turbulent economic rupture Continue Reading
The UK and EU were on Wednesday night poised to strike a post Brexit deal that would define their future trading relationship, reducing the threat of Britain crashing chaotically out Continue Reading
Due to lower demand and the OPEC+ deal, Russia’s crude oil exports declined by 10.4 percent in volume year over year in January to October, data from the Russian federal Continue Reading
Pipe-laying for the Nord Stream-2 natural gas pipeline is set to restart in Danish waters, according to a local regulator, Reuters has reported . Construction of the pipeline on Danish Continue Reading
The developer of the Nord Stream 2 gas pipeline could resume pipelaying work in Danish waters as soon as Jan. 15, 2021, according to a notice to sea-farers published Dec. Continue Reading
Britain has found two cases of a coronavirus variant linked to South Africa, Health Secretary Matt Hancock said Wednesday, both of which are tied to contact with recent arrivals from that Continue Reading
Crude oil futures fell further in mid-morning trade in Asia Dec. 23 as bearish data from the American Petroleum Institute took the market by surprise, and as US President Donald Continue Reading
Oil steadied near $47 a barrel in New York after coming under pressure from signs of increased U.S. supply and the resurgence of the pandemic. West Texas Intermediate futures recouped earlier Continue Reading
Oil futures settled lower Dec. 22 amid pandemic-dimmed demand outlooks prompted by the spread of more lockdowns across Europe. NYMEX February WTI settled 95 cents lower at $47.02/b and ICE Continue Reading
The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 2.70 million barrels for the week ending December 18. Analysts had predicted an inventory draw Continue Reading
Oil prices lost gains early this week after a new strain of Covid-19 is threatening the global demand recovery. Chart of the Week Demand for transportation fuels (gasoline, distillates, and Continue Reading
Oil fell as a faster-spreading strain of the coronavirus discovered in the U.K. raised the risk of more lockdowns and less global travel. (Bloomberg) — Oil fell toward $47 a Continue Reading
While hopes for hydrogen as a major energy carrier go back decades, a new generation of hydrogen plans are now coming forth from companies, industry groups and countries. The EU’s Continue Reading
Parliament showdown looms over unsustainable spending, new taxes, and KRG oil revenues. Iraq’s Cabinet votes for the 2021 budget at the end of a three-day session on Dec. 21, 2020. Continue Reading
Highlights Pipeline hit by Houthi-claimed attack in May 2019 Reserve pipeline network has restored flows: sources Aramco planning pipeline expansion to 7 million b/d Dubai — Saudi Arabia’s Red Sea Continue Reading
Iranian oil minister Bijan Zanganeh has urged Russia to boost ties with Tehran in the face of US sanctions and praised the country’s role in helping to stabilize global crude Continue Reading
More details have emerged on the Iraq-Jordan electricity power grid that is fast becoming a highly controversial project due to Iraq’s persistent political game-playing with both the U.S. and Iran. Continue Reading
With an eye on US sanctions relief once US President-elect Joe Biden takes office, Iran’s leaders have ordered its oil sector to prepare to ramp up production and exports in Continue Reading
More than 300 Nigerian schoolboys were reunited with their families last weekend, days after they had been abducted by kidnappers from their dormitory in the country’s north-west. The kidnapping revived Continue Reading
The Liza-1 well in the Stabroek Block offshore Guyana is pumping oil at a rate of 120,000 barrels per day, Exxon has announced, in a belated achievement of its target Continue Reading
Two key Republican lawmakers on Tuesday urged the Trump administration to strengthen new rules adopted Friday aimed at preventing China’s biggest chipmaker SMIC from getting access to advanced U.S. technology. Continue Reading
The energy world is changing, and quicker than most experts predicted only a year ago. The adaptation of renewable energy technologies is accelerating, even during the pandemic, and three contenders Continue Reading
China has issued the first round of crude oil quotas for next year, and it is 18 percent higher than the respective round for 2019, Reuters has reported , citing Continue Reading
Chinese authorities have instructed railway companies to prioritize train wagons for thermal coal transportation while mandated state-owned miners to ramp up production to meet heating needs during winter, sources said Continue Reading
Japan is set to enter new era of hydrogen development in 2021 as it launches the world’s first transport of liquefied hydrogen from Australia, a key step forward in the Continue Reading
China’s crude throughput fell slightly in December, with both state-run and independent refiners posting lower run rates due to some maintenance works toward the year-end, latest industry data and information Continue Reading
More than 40 oil and gas companies in the United States filed for bankruptcy protection in the first eleven months of this year, according to Haynes & Boone’s latest report Continue Reading
Apple plans to manufacture an electric passenger vehicle with its own breakthrough battery technology in 2024, sources with knowledge of the plans told Reuters , in what could be a Continue Reading
t was February 2019, and Exxon Mobil Corp. was ready to make one of the largest-ever investments in a U.S. hub for overseas shipments of liquefied natural gas. The $10 billion project Continue Reading
The legal principle that corporate boards must focus exclusively on maximizing value for shareholders wasn’t always taken for granted. It was enshrined in a 1919 court decision involving Henry Ford Continue Reading
States and major cities across the country have imposed the most extensive restrictions on business and social gatherings since widespread lockdowns during the spring, in hopes of preventing a further Continue Reading
Airlines are preparing to call back tens of thousands of workers they let go in October now that Congress has approved government assistance to cover carriers’ payroll through the end Continue Reading
A steep drop in Permian gas production this year is driving a significant shift in regional flow dynamics that’s likely to endure into 2021 as higher West Texas gas prices Continue Reading
BPC has commenced drilling of the Perseverance #1 well in The Bahamas’ far-southern waters. PHOTO SOURCE: Stena Drilling – www.stena-drilling.com Bahamas Petroleum Co. plc (LON: BPC) reported that it spudded Continue Reading
France will reopen its borders to passengers from England on Wednesday, ending a blockade intended to stop the spread of a new coronavirus variant, but which has held up thousands Continue Reading
British Prime Minister Boris Johnson’s government is desperately trying to re-open trade routes to France after a day of cross-Channel political bartering failed to end the chaos at the U.K.’s Continue Reading
