In the upscale shisha lounge of one of Baghdad’s new restaurants, customers puffing on fragrant fruit-scented tobacco sit at gold-rimmed tables flanked by a giant video screen and views of Continue Reading
For most of last year, Saudi Arabia—the largest oil exporter in the world—and its key partner in the OPEC+ deal, Russia, were head-to-head in a very close race for the Continue Reading
An Israeli firm has announced the first superfast EV battery that can charge in just five minutes. The technology could spark a true EV revolution as it would eliminate one Continue Reading
A return of Iranian oil to the market if new US President Joe Biden resurrects the nuclear deal could destabilize crude prices and undermine the OPEC+ alliance, experts said at Continue Reading
Saudi Arabia’s crude exports rose to a seven-month high in November and, with production capped by the OPEC+ agreement, domestic stockpiles ended the month at a 17-year low, according to Continue Reading
Saudi Aramco may be forced to play catch-up in 2021 as rival state-controlled oil companies closely aligned to OPEC policy in the Middle East race to add new production capacity Continue Reading
Iraq’s crude exports to India grew nearly double-digits last year, helping it retain the title of India’s top oil supplier in 2020, but it may struggle to attain similar growth Continue Reading
Iran’s currency strengthened to a five-month high against the dollar as Joe Biden prepared to take office with a plan to revive the 2015 nuclear deal and provide sanctions relief Continue Reading
U.S. President Joe Biden on Wednesday will revoke the permit needed to build the Keystone XL oil pipeline after being sworn into office, aides said, dashing Ottawa’s hopes of salvaging Continue Reading
President Joe Biden signed sweeping actions to combat climate change just hours after taking the oath of office, moving to rejoin the Paris accord and imposing a moratorium on oil Continue Reading
Until very recently, nearly any news out of the Canadian oil sands was certain to be a tale of woe. While Alberta’s oil and gas industry didn’t suffer from lack Continue Reading
After a devastating 2020, Rystad Energy projected demand for oil products in the US to grow by 1.08 million bpd in 2021 to 19.1 million bpd. This projection left politics Continue Reading
Weekly US coal carloads totaled 57,665 in the week ended Jan. 16, down 5.1% from the previous week, Association of American Railroads data showed Jan. 20. From the year-ago week, Continue Reading
Cruise and General Motors have entered a long-term strategic relationship with Microsoft to accelerate the commercialization of self-driving vehicles. Microsoft is joining GM, Honda and institutional investors in a combined Continue Reading
The Biden administration is taking steps to possibly reverse the decision by Donald Trump’s U.S. Department of Labor to make it more difficult for fiduciaries of retirement plans to direct Continue Reading
U.S. shale changed global oil markets. It shook the foundations of OPEC as the one single swing producer group. And last year, it crumbled under the weight of the pandemic Continue Reading
Climate change has not been a major feature in U.S. trade agreements. That may change under President-elect Joe Biden. Biden on the campaign trail called for conditioning future trade agreements on Continue Reading
The U.S. imposed on Tuesday sanctions on the Russian pipe-laying vessel that was expected to complete the construction of the gas pipeline Nord Stream 2, while several Western companies are Continue Reading
Europe superseded China as the global driver of electric car sales in 2020 for the first time in five years, as total EV sales jumped 43% despite the COVID-19 crisis Continue Reading
The developer of the Nord Stream 2 gas pipeline from Russia to Germany has said it remained committed to completing the controversial link, despite growing reports of auxiliary service companies Continue Reading
The European Central Bank is looking at a darkening picture for the economy as infections and deaths surge. With more than a trillion euros of pandemic stimulus still in the Continue Reading
The Dutch government wants to impose a curfew as part of beefed-up restrictions to rein in the spread of a new more contagious virus variant that already accounts for at Continue Reading
Norwegian electrolysis company NEL aims to produce renewable hydrogen at $1.5/kg by 2025, outcompeting fossil fuel-derived alternatives, it said Jan. 21. Scaling up electrolysis to multi-GW size is seen as Continue Reading
Crude oil futures rose in the mid-morning trade in Asia Jan. 20, as stimulus expectations continued to provide a tailwind to the oil market, even as fresh coronavirus outbreak in Continue Reading
Oil extended gains on more dollar weakness and expectations U.S. President-elect Joe Biden’s incoming administration will take steps to revive growth and energy demand in the world’s largest economy. Futures in Continue Reading
Oil surged the most in over a week in London as broader markets rallied on expectations of additional U.S. stimulus boosting the economy. Futures in London rose 2.1% on Tuesday. Continue Reading
The physical oil market is walking a tightrope between the momentum spurred by the surprise Saudi Arabian cuts and the pressure of renewed lockdowns in many countries, which is keeping Continue Reading
The global COVID-19 vaccine roll-out is putting oil fundamentals on a stronger trajectory for the year, with both supply and demand shifting back into growth mode following 2020’s collapse, according Continue Reading
Shell turned the lights back on at its Prelude offshore LNG facility just as Asia was being frozen by a cold spell that sent prices for liquefied natural gas sky-high. Continue Reading
Saudi Arabia’s oil production cuts have hit the tanker market so hard that the biggest vessels in the market are effectively subsidizing cargo deliveries on the industry’s main trade route. Continue Reading
The Abu Dhabi National Oil Company (ADNOC) is looking to form partnerships with companies from the United States to develop unconventional oil resources in the United Arab Emirates (UAE), Reuters Continue Reading
Iranian President Hassan Rouhani urged the incoming U.S. administration on Wednesday to return to a 2015 nuclear agreement and lift sanctions on Tehran while welcoming the end of “tyrant” President Continue Reading
Insurgents bombed a power transmission station in the Jalula area of Diyala province late Monday, depriving many residents of electricity — the latest in a string of incidents that highlight Continue Reading
The sub-Saharan country of Angola is not one which readily springs to mind when thinking about oil producing nations. The deeply impoverished former Portuguese colony, which is an OPEC member Continue Reading
Crude oil imports in the world’s third-largest oil importer and consumer, India, surged in December 2020 to their highest in almost three years, Reuters reported on Tuesday, citing data from Continue Reading
The persisting gas crisis in Pakistan has intensified, adding to the woes of the citizens as they are forced to turn to more expensive methods to compensate for the gas Continue Reading
A sharp squeeze in domestic gas availability and the surge in LNG prices that has pushed up the cost of gas-based power generation have prompted Pakistan to turn to oil Continue Reading
The Trump administration issued a parting shot to Venezuelan President Nicolás Maduro on Tuesday, announcing a sweeping round of stiff financial sanctions that target a network accused of moving oil Continue Reading
The US Treasury sanctioned a series of European oil traders and crude tankers that allegedly helped a Mexican network work with Venezuela to evade US sanctions and move its crude Continue Reading
China is racing to build a quarantine center to house 4,000 people in the northern city of Shijiazhuang, the epicenter of the country’s latest outbreak of the coronavirus, which Beijing has Continue Reading
Demand for container freight looks set to remain at very high levels throughout the Lunar New Year, with freight rates from North Asia to the UK at all-time highs as Continue Reading
China will be looking to tweak its economic policies to get consumers to spend more, policy advisers in Beijing said after retail sales emerged as a weak spot in better-than-expected Continue Reading
China’s crude imports from the US surged 211% year on year to 19.76 million mt, or an average 395,746 b/d, in 2020, with the value jumping 89% to $6.28 billion, Continue Reading
California’s changing climate has pushed fire season to new lengths, triggering once-rare winter blackouts. State utilities cut power to more than 72,000 homes and businesses Tuesday in a preemptive effort to Continue Reading
General Motors is teaming up with Microsoft to accelerate its rollout of electric, self-driving cars. In the partnership announced Tuesday, the companies said Microsoft’s Azure cloud and edge computing platform Continue Reading
The Supreme Court on Tuesday seemed cautious about siding with oil and gas companies in a case involving global warming. The case the court was hearing is not about whether Continue Reading
A US court tossed out one of President Donald Trump’s signature efforts to roll back environmental regulations just one day before he leaves office, scrapping a rule meant to prop Continue Reading
After four years of trade clashes, unpredictable foreign policy and insults lobbed at the prime minister by tweet, Canadian officials are optimistic that the inauguration of President-elect Joe Biden will Continue Reading
NOTE: The Drilling Productivity Report (DPR) rig productivity metric new-well oil/natural gas production per rig can become unstable during periods of rapid decreases or increases in the number of active rigs and well completions. Continue Reading
Higher natural gas prices this year are expected to result in the first annual decline in U.S. gas-fired electricity generation since 2017, the U.S. Energy Information Administration (EIA) said on Continue Reading
