Oil products stockpiles at the Port of Fujairah outside of the Strait of Hormuz in the Persian Gulf dropped to a two-month low, with some traders forced to buy marine Continue Reading
Qatar Petroleum took this week the final investment decision to build what it says would be the world’s largest liquefied natural gas (LNG) project in terms of capacity, as the Continue Reading
The installed renewable capacity of the United Arab Emirates, which until recently was nearly non-existent, concluded 2020 at 2.3 gigawatts (GW), around 91% of which comprises of solar PV projects, Continue Reading
Libya is in the middle of another production setback due to a halt in crude exports from the 230,000 b/d Marsa el-Hariga terminal, shipping and industry sources said Feb. 9. Continue Reading
Iraq is committed to the OPEC+ output cuts and will only boost its future crude production if there is demand from international oil markets, a deputy oil minister told the Continue Reading
Israel’s swift vaccination rollout has made it the largest real-world study of Pfizer Inc’s COVID-19 vaccine. Results are trickling in, and they are promising. Medical workers, some seen through a Continue Reading
Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, three sources said, as the oil giant Continue Reading
South Africa will give the unapproved Johnson & Johnson vaccine to its front-line health workers beginning next week as a study to see what protection it provides from COVID-19, particularly Continue Reading
Aframax Caribbean-USGC runs down 75% in 2020 from 2016 Sanctions lifting would release 500,000 b/d of crude Guyana provides potential return of Caribbean Suezmax business A partial easing of US Continue Reading
Tesla China, which is set to design a new compact $25,000 Tesla in Shanghai, will eventually sell the model worldwide, Teslarati reported on Tuesday, citing a recent interview of Tesla Continue Reading
China’s producer prices gained for the first time in a year in January while core consumer prices posted the first decline in a more than a decade, highlighting the economy’s Continue Reading
On a freezing December morning, hundreds of oil traders, industry researchers and government officials battled bumper-to-bumper congestion as they headed to a hotel north of Beijing’s Forbidden City for an annual Continue Reading
The average utilization rate at China’s independent refineries in eastern Shandong province is likely to fall further in February, with several refineries scheduled to shut for maintenance, while narrowing domestic Continue Reading
Representing a significant milestone in the largest job in its history, Jumbo has completed the transportation element of its Transport & Installation contract for the Yunlin offshore wind farm in Continue Reading
Forecast Highlights The February Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve. Reduced economic activity related to the COVID-19 pandemic has caused Continue Reading
The US Energy Information Administration on Feb. 9 substantially increased its forecast for natural gas production in 2021 and 2022 amid expectations of more associated gas production in the Permian Continue Reading
The US Energy Information Administration revised its crude price forecast higher in its monthly Short-Term Energy Outlook released Feb. 9 amid tightened first quarter supply outlooks. The EIA now expects Continue Reading
The US is estimated to produce 589.2 million st of coal in 2021, the Energy Information Administration said in a Feb. 9 report, lowering its monthly estimate for the third Continue Reading
General Motors Co said on Tuesday it was extending production cuts at three North American plants until at least mid-March due to the global semiconductor chip shortage, while vehicles at Continue Reading
American oil explorers will boost drilling and production later this year as crude prices are set to stay above $50 a barrel, according to a U.S. government report. Supply from new Continue Reading
Germany’s gas storage levels are lower than typical for the beginning of February in full winter season, and the main reason for this is reduced natural gas pipeline flows from Continue Reading
French supermajor Total reported a net loss of $7.2 billion for 2020, down from a profit of $11.27 billion for 2019, and said it will change its name to reflect Continue Reading
Globally integrated energy supermajor ExxonMobil was severely mauled during 2020. The company reported a massive 2020 full-year loss of $22 billion, its worst performance in roughly 40 years, after being Continue Reading
A German environmentalist group said Feb. 9 the government should say whether its reported offer to the previous US administration to increase state support for LNG import infrastructure in return Continue Reading
Air Liquide and Siemens Energy have signed a Memorandum of Understanding with the objective to combine their expertise in PEM (Proton Exchange Membrane) electrolysis technology. They intend to focus their Continue Reading
Norway’s Equinor said on Wednesday it has agreed to sell its assets in the U.S. Bakken oil province after a decade plagued with billions of dollars of losses and criticism Continue Reading
Construction of a coal mine that threatened U.K. Prime Minister Boris Johnson’s claim to be a world leader in the fight against climate change is under review after growing opposition. The Continue Reading
The defining agreement to limit global warming might not have happened without a drab meeting room. It was in December 1997 that officials from the U.S., European Union and Japan Continue Reading
German Chancellor Angela Merkel and the country’s 16 state governors are to decide Wednesday whether to extend a lockdown beyond mid-February, as overall infection numbers are declining but concern is Continue Reading
Crude oil futures strengthened during mid-morning trade in Asia Feb. 9, as expectations of a return to pre-coronavirus consumption patterns amid the abating crisis and hopes of an upcoming US Continue Reading
Oil extended a rally from the highest level in more than a year on signs the global market is tightening and demand is improving. Futures in London climbed above $61 a Continue Reading
Oil in London rose above $60 a barrel for the first time in more than a year in a rally that’s dividing the world’s top oil trading houses. (Bloomberg) — Continue Reading
Oil in London rose above $60 a barrel for the first time in more than a year as stockpiles tighten and the demand outlook improves amid the global rollout of Continue Reading
Oil in London rose above $60 a barrel for the first time in more than a year in a rally that’s dividing the world’s top oil trading houses. Global benchmark Brent Continue Reading
Oil prices rose 2% on Monday to their highest in over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for Continue Reading
Crescat’s Tavi Costa points out something remarkable which many may have missed amid the short squeeze and “growth” stock frenzy: oil, that “value” age relic, has had its best YTD Continue Reading
The infectious disease doctor in Johannesburg thought that he and his country would only have to hold on a little longer. A million doses of the AstraZeneca-Oxford vaccine had arrived Continue Reading
ALL EYES are on Denmark, which subjects a large share of its coronavirus cases to genomic surveillance. That window into the pandemic shows the virus variant B.1.1.7, which is far more Continue Reading
The fifth World Energy Forum, hosted by the Atlantic Council as part of the Abu Dhabi Sustainability Week, occurred virtually late last month. In conjunction, Atlantic Council released a first Continue Reading
The District of Columbia city council held a public hearing on Oct. 9, 2018, to discuss legislation that would halve the U.S. capital’s greenhouse-gas pollution by 2032. The bill had gathered momentum over Continue Reading
The past six years have been the warmest on record since 1880, with 2016, 2019 and 2020 being the top three, according to a World Meteorological Organization (WMO) press release on Continue Reading
Pollution from fossil fuels causes one in five premature deaths globally, suggesting the health impacts of burning coal, oil and natural gas may be far higher than previously thought, according Continue Reading
Can a multibillion-dollar project in the Saudi desert jump-start the demand for green hydrogen, an elusive energy source that could help eliminate carbon emissions from vehicles, power plants and heavy industry? Continue Reading
The new Biden Administration has largely been focused on fulfilling its election promises in its first month in power. After reversing an extensive list of Trump policies via executive orders, Continue Reading
A tanker had to leave Libya’s Hariga export terminal without oil after members of the Petroleum Facilities Guard stopped the vessel from loading crude amid an ongoing strike over delayed Continue Reading
Iraq needs crude oil to trade at $80 a barrel to be able to plug its budget holes, according to oil minister Ihsan Abdul Jabbar Ismail. In an interview with Continue Reading
Saudi state oil giant Aramco remained the second most valuable brand in the oil and gas industry last year, with a value of $35.7 billion, according to Brand Finance. This Continue Reading
Iran has denied any knowledge of an oil tanker that the United States has targeted for seizure because it was used to export crude from Iran despite U.S. sanctions, Bloomberg Continue Reading
Iraq plans to ramp up its refining capacity by more than 80,000 b/d in 2021, oil minister Ihsan Ismaael said Feb. 8, as OPEC’s second largest producer seeks to lower Continue Reading
The new Biden Administration has largely been focused on fulfilling its election promises in its first month in power. After reversing an extensive list of Trump policies via executive orders, Continue Reading
