Early evidence suggests the variant of coronavirus that emerged in the UK may be more deadly, Prime Minister Boris Johnson said. However, there remains huge uncertainty around the numbers – Continue Reading
Prime Minister Boris Johnson had been expected to trumpet a rare success in the campaign against the coronavirus on Friday: news that Britain had vaccinated 5.4 million people. By the Continue Reading
Crude oil futures fell during the mid-morning trade in Asia Jan. 22, as pandemic concerns heightened amid a lack of new drivers. At 10:43 am Singapore time (0243 GMT), the Continue Reading
Physical oil prices firmed in Asia after a flurry of tenders this week, although concerns remain about possible near-term demand weakness after a flare-up in Covid-19 cases across China. While the buying Continue Reading
Oil fell below $53 a barrel on a steadily deteriorating short-term demand outlook and a gain in the dollar that reduced the appeal of commodities priced in the currency. Futures in Continue Reading
Oil prices fell on Friday, retreating further from 11-month highs hit last week, weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world’s Continue Reading
The producers part of the OPEC+ alliance complied with the oil output cuts at 99 percent in December 2020, down from 101 percent compliance in November, sources at the OPEC+ Continue Reading
Global vaccination campaigns and the resumption of international air traffic will support oil prices within $55-$60/b in the near term, but OPEC will be closely watching for clearer signals from Continue Reading
Before it launched the world’s biggest public listing, Saudi Arabian Oil Co. promised potential investors a small piece of a trillion-dollar company with access to unrivaled oil reserves. Not just in Continue Reading
Rare twin suicide bombings struck a market Thursday in central Baghdad, killing at least 32 people and injuring 110 more, according to Iraq’s Health Ministry. The blasts came midmorning as Continue Reading
Iraq has postponed its upcoming national elections by four months, as authorities struggle to overcome the kinds of technical and security problems that undermined public confidence in the 2018 elections Continue Reading
Oil prices have risen by 10 percent since the end of 2020 and 8 percent since the OPEC+ meeting two weeks ago, but the rally has nothing to do with Continue Reading
There are three major troubling factors for new U.S. President Joe Biden. In the recently agreed US$2 billion five–year prepayment oil supply deal between the Federal Government of Iraq (FGI) Continue Reading
Last year was tough for the global oil industry as the COVID-19 pandemic and an ongoing oil supply glut rocked petroleum-dependent emerging economies, notably in South America, to their core. Continue Reading
Majors are eying Suriname as the next big oil player. With recent success in neighbouring Guyana, Suriname offers hope for low-cost oil exploration and production going into 2021. Exxon Mobil, Continue Reading
It may be the oil market’s worst-kept secret: Millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously going to China. The cat-and-mouse games that avoid detection and Continue Reading
A cargo ship operated by A.P. Moller-Maersk A/S lost several hundred containers in the Pacific Ocean while sailing through heavy seas from China to Los Angeles, the latest in a spate Continue Reading
One thing is missing from China’s otherwise remarkable economic recovery: a strong rebound in consumer spending. Even though China was the only major economy to expand during the Covid-19 pandemic last year, its Continue Reading
The cold spell that left Asian countries scrambling to buy enough natural gas for heating and electricity generation earlier this month made headlines and spurred a massive rally in spot Continue Reading
Beijing launched mass COVID-19 testing in some areas on Friday, while Shanghai was testing all hospital staff as China battles its worst outbreak of the disease since March and families Continue Reading
China blew past its previous record for renewable energy installations last year with a massive — and surprising — addition of wind power. The National Energy Administration said in a press release on Continue Reading
japan’s Sumitomo has moved forward in its planned green hydrogen project in Gladstone, Australia, following the signing of a front end engineering and design contract with JGC Holdings, with an Continue Reading
U.S. President-elect Joe Biden and former Secretary of State John Kerry in Wilmington, Delaware, November 2020 President Donald Trump will hand the incoming administration of President-elect Joe Biden a daunting Continue Reading
In the early hours on Wednesday, as the sun was setting on one presidency and rising on another—but long before it would actually peek over the horizon—two men did two Continue Reading
U.S. President Joe Biden’s promised ban on new oil and gas drilling on federal lands would take years to shut off production from top shale drillers because they already have Continue Reading
President Joe Biden has put his team to work reviewing dozens of actions taken by former President Donald Trump, aiming to reverse orders that he says harm the environment or Continue Reading
President Biden’s decision to revoke a permit for Keystone XL likely spells the end of a saga spanning more than 12 years over the pipeline meant to carry Canadian crude Continue Reading
President Biden issued a blizzard of executive orders on his first day in office, including a diktat to revoke the permit for the Keystone XL pipeline. This is a slap Continue Reading
Oilfield services provider Baker Hughes ( NYSE: BKR ) booked its first quarterly net profit since oil prices crashed in March, reporting on Thursday a net income of $653 million Continue Reading
The American Petroleum Institute will support federal regulations for oil and gas industry-generated methane, the industry body said on Thursday, according to the Washington Examiner . This is in stark Continue Reading
About 900,000 workers filed for unemployment benefits last week as the labor market struggles to recover this winter. The number of jobless claims last week was down slightly from the week ended Jan. Continue Reading
The US oil and gas rig count rose by six to 430 in the week ending Jan. 20, rig data provider Enverus said, as indicators ahead of the quarterly round Continue Reading
Elon Musk said he plans to donate $100 million toward a prize for the best carbon capture technology, weeks after he became the world’s richest person. Musk made the announcement Thursday Continue Reading
The US Interior Department on Jan. 20 put new oil and gas lease sales and permits on federal lands and waters on hold for 60 days, according to an order Continue Reading
A new study from researchers at MIT uncovers the kinds of infrastructure improvements that would make the biggest difference in increasing the number of electric cars on the road, a Continue Reading
Baker Hughes Co. expects as many as four liquefied natural gas projects globally to move to a final investment decision this year amid a global revival of the fuel after Continue Reading
German Chancellor Angela Merkel said Thursday that she isn’t abandoning a German-Russian gas pipeline project that faces U.S. sanctions, but wants to talk to the new administration about the issue. Continue Reading
A new study by the European Automobile Manufacturers’ Association (ACEA) has found that there are currently 6.2 million medium- and heavy-duty commercial vehicles on the EU’s roads, the average age Continue Reading
Daimler AG’s Mercedes-Benz rolled out its battery-powered EQA SUV as part of a plan to take on Tesla and Volkswagen. Mercedes-Benz’s first fully-electric SUV will be available in the coming Continue Reading
European air traffic fell sharply in the week to Jan. 20, shrugging off signs of an uptick over the previous week, while economic mobility in Europe’s biggest economies remains little Continue Reading
The European Parliament has again called for the Nord Stream 2 gas pipeline project to be halted, this time in light of the arrest in Moscow of Russian opposition politician Continue Reading
Ørsted has taken final investment decision on the Danish demonstration project H2RES, which will use offshore wind energy to produce renewable hydrogen. ( Earlier post .) The project is expected Continue Reading
European leaders, struggling with a slow vaccination effort and fearful that highly contagious coronavirus variants could rapidly overwhelm their medical systems, moved Thursday to begin reimposing border restrictions and to speed Continue Reading
Crude oil futures ticked lower during the mid-morning trade in Asia Jan. 21, as data released by the American Petroleum Institute showed an unexpected build in US crude inventories, although Continue Reading
Oil dipped below $53 a barrel in New York as the demand outlook in some of the world’s largest economies remained fragile. Futures slipped 0.6% after JPMorgan Chase & Co. cut Continue Reading
Oil pared a rally late in the trading session as concerns over lackluster consumption clouded optimism around the likelihood of additional U.S. stimulus. Futures closed less than 1% higher in Continue Reading
Oil edged higher on Wednesday on expectations that U.S. President Joe Biden’s administration will deliver hefty pandemic-related economic stimulus that will lift fuel demand and enact policies that will tighten Continue Reading
Last week’s record-high spot prices of liquefied natural gas (LNG) in Asia may not hold for long, but the surge could be a sign of what the future holds for Continue Reading
Of the biggest U.S. oil and gas companies, EOG Resources Inc. is the least prepared for a low-carbon economy, according to BloombergNEF. That’s based on an analysis of the company’s business-model transition Continue Reading
After a difficult year in the oil world, Total is planning to invest in heavily India’s solar sector going into the next decade. The French company plans to invest $2.5 Continue Reading
