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Month: January 2021

Category:
  • Prices

Oil Prices Decline with Broader Market

Oil edged lower on Friday alongside a broader market decline as the recovery in consumption remains uncertain. The dip capped a third straight week with New York futures stuck near Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Prices

Crude oil prices edge up as Russian crude exports could drop

Crude oil futures edged up during afternoon European trade on Jan. 29 after key Russian producers agreed to direct more of their oil into domestic refineries, which could tighten crude Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Prices

Covid-19: how close is the light at the end of the tunnel?

Will it ever end? In November, we were celebrating the announcement that the BioNTech/Pfizer vaccine seemed to be highly effective against Covid-19, followed with bewildering speed by similar claims for Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Energy Demand

EIA: Global Oil Consumption Crashed By 9% In 2020

Due to the coronavirus restrictions and lockdowns, global consumption of petroleum and other liquid fuels crashed by 9 percent to 92.2 million barrels per day (bpd) in 2020, the U.S. Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • OPEC

OPEC’s Oil Production Rises In January As Cartel Eases Output Cuts

OPEC’s crude oil production has increased by 160,000 barrels per day (bpd) in January as the OPEC+ alliance is easing the output cuts in the first month of 2021, the Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Iraq

In pursuit of reforms, Kurdistan drafts regional budget

Negotiating teams representing Iraq’s federal government and the semi-autonomous Kurdistan Regional Government meet in Baghdad to negotiate over energy and financial issues on April 19, 2020. Iraq’s semi-autonomous Kurdistan Regional Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Nigeria

Shell Ordered to Pay Compensation Over Nigerian Oil Spills

Royal Dutch Shell RDS.A -3.53% PLC’s Nigerian subsidiary has been ordered by a Dutch court to pay compensation for oil spills in two villages, a ruling that some lawyers say could encourage further Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Nigeria

Dutch Court Holds Shell Liable For Oil Spill In Nigeria

The Hague Court of Appeal ordered Shell on Friday to compensate Nigerian farmers for two oil spills in the country 13 years ago, in the first lawsuit in which a Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • India

A year after COVID-19’s arrival, India’s active cases fall

India reported its lowest active number of novel coronavirus cases in seven months on Saturday, a year after the virus was first confirmed in the country.  A year ago, a Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • India

Indian economy shrinks 7.7% in fiscal 2020-21 amid pandemic

NEW DELHI (AP) — India’s economy contracted by 7.7% in the 2020-21 financial year, battered by the coronavirus pandemic, according to a report released Friday. The government survey estimates the Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • China
  • Electric Cars

Tesla To Boost Capacity At Shanghai Gigafactory

Tesla will increase the capacity of its gigafactory in Shanghai to 450,000 cars this year from the current 250,000 as the vehicles produced there enjoy growing popularity, the company said Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Chevron

Chevron disappoints Wall St with third straight quarterly loss

US oil company Chevron slumped to its third straight quarterly loss, disappointing Wall Street and underlining the damage inflicted on even the industry’s biggest groups by the price crash. The second-biggest Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • coronavirus

Johnson & Johnson’s Vaccine Offers Strong Protection but Fuels Concern About Variants

Johnson & Johnson, the only major drug maker developing a single-dose vaccine for Covid, announced on Friday that its shot provided strong protection against Covid-19, potentially offering another powerful tool in Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Oil

Oil Prices Under Fire As Rig Count Continues To Rise

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 6 to 384. The oil and gas rig count has risen Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

The Enemy Of My Enemy: Big Oil Befriends Big Corn

It’s the oddest of odd couples, yet understandable. According to a Reuters exclusive , the U.S. oil industry is teaming up with the U.S. corn industry to defeat a common Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Climate

Occidental Delivers World First Carbon-Neutral Oil

A unit of U.S. Occidental said this week it had delivered the world’s first shipment of carbon-neutral oil, or oil where emissions associated with the entire crude lifecycle—well head through Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Biden Oil, Gas Drilling Ban Doesn’t Apply To Tribal Lands

A temporary ban on oil and gas drilling across federal lands and waters will exclude tribal lands, the White House said in a fact sheet released yesterday, after some Native Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Gas

Extension of US leasing moratorium places nearly 4 Bcf/d of gas growth at risk

If the recent moratorium on the issuance of federal drilling leases holds, most US production losses would occur in New Mexico, where up to 3 Bcf/d of new natural gas Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Gulf Of Mexico

Chevron’s Gulf of Mexico operation may be most at risk from Biden oil and gas policy proposals

More restrictive oil and gas leasing, permitting and drilling on US federal lands and waters proposed by the Biden administration cast a wide net, but lack critical details and the Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • coronavirus

‘Simple is beautiful’: One-shot vaccine proves effective

The first one-shot COVID-19 vaccine provides good protection against the illness, Johnson & Johnson reported in a key study released Friday, offering the world a potentially important new tool as Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Chevron

Chevron Posts Quarterly Loss to Cap Worst Year Since 2016

Chevron Corp. CVX -4.29% posted its third consecutive quarterly loss Friday to close its worst year since 2016, as the global pandemic continues to weigh on the oil-and-gas industry and cloud hopes for renewed economic Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Electric Cars

G.M. Announcement Shakes Up U.S. Automakers’ Transition to Electric Cars

A new president took office this month determined to fight climate change. Wall Street investors think Tesla is worth more than General Motors, Toyota, Volkswagen and Ford put together. And Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Climate
  • USA

Biden Just Linked Climate and Security. Next Comes Military Money

With warming temperature playing a role in everything from mass migrations (see Central America and the U.S. southern border) to civil war (see Syria), climate change has been a factor Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Electric Cars

Biden’s Green Push Gives Detroit the Cover to Go Electric

General Motors Co. Chief Executive Officer Mary Barra just stomped on the electric-vehicle accelerator pedal. Call it the Biden effect. Six months ago the automaker backed the Trump administration in a Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Pipelines

Biden Ends Keystone XL Pipeline Amid Changing Climate

In purely chronological terms, the opposite of a “Scaramucci” could arguably be called a “Keystone.” The Keystone XL pipeline expansion was first proposed almost 13 years ago. On Wednesday, newly installed President Joe Biden killed Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Pipelines

With Natural Gas in Peril, Pipeline Owners Look to Hydrogen

Three million miles of natural gas pipelines criss-cross the U.S., and the fight against climate change could render them all obsolete. The last two weeks alone illustrate the stakes. President Joe Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Air Lines

United Airlines warns 14,000 jobs at risk when payroll aid expires

United Airlines said on Friday it has sent warnings of potential furloughs to some 14,000 employees whose jobs are at risk once a second round of payroll support for airlines Continue Reading

Posted On : 30 Jan 2021 Published By : Tom Whipple
Category:
  • Prices

Crude oil futures rangebound amid supportive policies, weak demand

Crude oil futures were rangebound during mid-morning trade in Asia Jan. 29 as the OPEC+ production cuts paring back the global supply glut cushioned the impact of depressed demand due Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Decline Under Virus Variant Cloud

Oil declined the most in nearly a week with the spread of new Covid-19 variants and tighter lockdown measures weighing on nascent hopes of a demand recovery. Futures in New Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Natural Gas Supply

Global Natural Gas Demand Set To Rebound After Pandemic Shock

Natural gas demand in the world saw its largest drop on record last year as COVID-19 reduced economic activity and upended all previous forecasts for continuous growth in global gas Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • OPEC

OPEC Withheld 1.3 Billion Barrels Of Oil To Prop Up Prices

The Organization of Petroleum Exporting Countries withheld some 1.3 billion barrels of oil supply last year to keep prices from falling even further, the secretary-general of the cartel said. “I Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Iraq

Iraqi Oil Minister takes hardline stance as Turkey arbitration decision looms

Iraqi Oil Minister Ihsan Ismaael has set an April deadline to resolve a long-running legal action against Turkey for enabling Kurdistan’s independent oil exports — either through a negotiated deal Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Lebanon

Lebanon’s caretaker prime minister condemns Tripoli violence

Lebanon’s caretaker prime minister on Friday condemned overnight violence in the city of Tripoli, where protesters angry over a strict lockdown clashed with security forces and set the municipality building Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Saudi Arabia

Why Saudi Arabia Wants To Sell More Of Its Oil Giant

Saudi Aramco, the world’s largest oil company, is about to make headlines again. In a surprise statement by Saudi Crown Prince Mohammed bin Salman during an interview at the Future Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Argentina

Argentina Struggles To Save Its Oil Boom

Argentina’s national state oil company YPF just cannot function in a stable and foreseeable manner, an apprehension that was rekindled by Guillermo Nielsen stepping down from his post of company Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Venezuela

Chevron and Reliance Hold Venezuela Talks with State Department

Chevron and Reliance Industries are meeting with US State Department officials to request a rollback of some Trump-era restrictions against Venezuela’s oil industry. (Bloomberg) — Chevron Corp. and Reliance Industries Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Natural Gas Exports

Asian LNG demand spike not indicator of ‘major’ global demand rebound in 2021: IEA

The spike in Asian LNG demand in January on the back of freezing regional temperatures is not an indicator a “major” global demand rebound for the remainder of 2021, a Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Climate

Republicans prepare to fight Biden’s climate actions they call ‘divisive and illegal’

We are only one week into Joe Biden’s presidency, and Republican lawmakers are raring for a fight as his administration begins an ambitious effort to address global warming.  A flurry Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Oil

Biden’s Freeze on Drilling Leases Disrupts New Mexico

Lance Wilbanks was looking forward to a rebirth for his trucking company, which saw its business hauling drilling rigs across southeastern New Mexico drop from around two dozen a month Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Shale Oil

Republican bill seeks to block Biden’s federal lands oil leasing halt

Republican senators from oil-producing states introduced legislation on Thursday that would block the Biden administration’s order pausing new oil and gas leasing on federal lands. The bill, introduced by Senator Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Climate

Pace of Biden Fossil Fuel Attack Pleases Climate Activists

Oil and gas companies knew they would face a fight with President Joe Biden, who had campaigned on tackling climate change. Nobody expected fossil fuel to come under such an Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • China
  • USA

Texas Oil Export Hub Sees China Demand Uptick

America’s main oil-export hub sees demand picking up from China this year. (Bloomberg) — America’s main oil-export hub sees demand picking up from China this year even as a resurgence Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Climate

Kerry, AOC and Bernie Find a New Path in Climate Change Fight

As President Joe Biden’s Special Presidential Envoy for Climate, John Kerry will play perhaps the most critical role internationally in managing a planetary crisis. To succeed, he’ll need to repair Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Climate

Decaying Urban Gas Lines Leaking Methane Fuel Global Warming

About two hours into our drive around Utrecht, a city of 358,000 near the center of the Netherlands, the display providing a real-time readout of ambient methane levels begins to Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • USA

US economy shrank 3.5% in 2020 after growing 4% last quarter

Stuck in the grip of a viral pandemic, the U.S. economy grew at a 4% annual rate in the final three months of 2020 and shrank last year by the Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • USA

US jobless claims drop; still at 847,000 as pandemic rages

The number of Americans applying for unemployment benefits fell but remained at a historically high 847,000 last week, a sign that layoffs keep coming as the coronavirus pandemic continues to Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

U.S. Pauses Rule That Says Banks Can’t Reject Loans To Oil & Gas

The Office of the Comptroller of the Currency (OCC) is pausing the publication of a rule that would make large American banks unable to deny lending money to oil and Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Natural Gas Supply

US natural gas in storage falls less than expected but massive draw looms

US working natural gas stocks dipped less than the market expected last week, leading to a dip in the Henry Hub prompt month, but a cold spell seizing most of Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • Shale Oil

Biden order indefinitely postpones March lease sales in Gulf of Mexico, Western states

President Joe Biden’s new moratorium on oil and gas lease sales will indefinitely postpone all lease sales previously scheduled under the Trump administration for both onshore acreage and for parcels Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple
Category:
  • Aviation
  • Climate

Airlines Could Reduce CO2 Emissions With Better Use of Wind

Airlines could “substantially” reduce their fuel consumption if planes become more efficient at riding the wind, according to new research. Commercial flights between New York and London during the 2019-2020 winter Continue Reading

Posted On : 29 Jan 2021 Published By : Tom Whipple

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