Vaccine News Gives Hope for Spring, if Enough People Get the Shots
As coronavirus infections surged around the country in early November — and as the prospect of a long, dark winter loomed — it was not clear if any of the Continue Reading
U.S. Oil Production On Course To Hit Record Levels In 2023
U.S. oil production fell sharply in 2020, but the Energy Information Administration is expecting it to pick back up and even set new records in just two years, it said Continue Reading
Germany says it beat 2020 goal to cut greenhouse emissions
Germany’s economy minister says the country beat its target of cutting greenhouse gas emissions by 40% last year compared to 1990 levels. Peter Altmaier said figures show Germany’s emissions of Continue Reading
The UK Stands By Its Controversial Coal Mine Decision
Despite pressure from the UK’s climate change advisors, Prime Minister Boris Johnson’s office says it will not intervene in Cumbria County Council’s decision to approve the country’s first new deep Continue Reading
Shell’s profit slides 71% in 2020 as pandemic bites
Royal Dutch Shell’s profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company said it expected to Continue Reading
Shell posts 87% earnings drop yet raises dividend
Royal Dutch Shell raised its dividend despite an 87 percent drop in earnings as the coronavirus pandemic hit energy prices, reduced production and weakened refining margins. For the three months Continue Reading
Covid trial in UK examines mixing different vaccines
A UK trial has been launched to see if giving people different Covid vaccines for their first and second doses works as well as the current approach of using the Continue Reading
Light Crude Settles Near $55
Oil climbed to the highest level in over a year as tightening global supplies and signs of strength in physical markets aided crude’s virus-recovery rally. Futures rose 2.3% in New Continue Reading
Crude oil tests one-year highs as market eyes OPEC+ compliance
Crude futures settled near one-year highs Feb. 2 amid a focus on OPEC+ production compliance and improved demand outlooks. Not registered? NYMEX March WTI settled $1.21 higher at $54.76/b and Continue Reading
After a Bruising Year, the Oil Industry Confronts a Diminished Future
Big Oil isn’t so big anymore. Exxon Mobil , BP and other large oil companies collectively lost tens of billions of dollars last year, posting their worst performance in years Continue Reading
Oil Companies Endure Brutal 2020, Warn of Slow 2021 Recovery
The big international oil companies are reporting one of their worst annual performances in decades and signaling that the pandemic could continue to challenge their businesses in 2021. Exxon Mobil Corp. XOM 1.58% and BP BP -6.57% PLC on Continue Reading
Hit by pandemic, oil giants Exxon, BP post huge 2020 losses
Oil giants Exxon and BP reported staggering losses for 2020 on Tuesday as the pandemic crushed energy demand and undercut oil prices. Exxon Mobil Corp. reported the largest losses in Continue Reading
Big Oil Has Barely Begun Covid Recovery
BP Plc offered more evidence that Big Oil has barely begun to heal the wounds from last year’s historic slump. The Western world’s largest energy producers were supposed to be sailing Continue Reading
Rising Arctic temperatures bring wild weather around the world.
This week’s winter storm is part of a pattern caused by disturbances to the upper-atmosphere phenomena known as the polar vortex that can send icy blasts from the Arctic into the middle Continue Reading
A Surge From an Atmospheric River Drove California’s Latest Climate Extremes
Construction crews work at the scene where a section of Highway 1 collapsed into the Pacific Ocean near Big Sur, California on Jan. 31, 2021. Credit: Josh Edelson/AFP via Getty Continue Reading
OPEC Core’s Crude Exports Slip Even as Output Curbs Are Eased – Bloomberg
Oil shipments from OPEC’s Persian Gulf producers slipped last month, even as output restrictions were eased and production volumes increased. Combined shipments of crude and condensate — a light form of oil extracted from Continue Reading
OPEC+ Now Sees Weaker Oil Demand Growth For 2021
OPEC+ expects global oil demand to rise by 5.6 million barrels per day (bpd) this year—lower estimated growth than OPEC’s assessment of 5.9-million-bpd demand increase from less than three weeks Continue Reading
OPEC+ calm ahead of committee meeting as oil prices rise, but tough decisions loom
OPEC+ ministers will convene Feb. 3 for a monitoring committee meeting that could provide the first signs of whether festering divisions will re-emerge when the alliance must decide how much Continue Reading
Iran Agrees to Free South Korean Ship’s Crew
Iran has agreed to free the 20-member crew of a seized South Korea-flagged ship, both countries said Tuesday, in what appeared to be the first significant gesture by the Iranians Continue Reading
Will Saudi Arabia’s Surprise Production Cut Backfire?
Global energy markets and industry insiders believe that it was a good idea for Saudi Arabia to slash oil production by one million barrels daily until the end of March Continue Reading
Turkish Media: Libya’s Haftar Sells Oil Illegally
Libya’s strongman in the east, General Khalifa Haftar, is selling through illegal corporations oil pumped in areas in eastern Libya under the control of his forces, Turkish media reported on Continue Reading
Asia Pushes U.S. Supertanker Port’s Oil Shipments to Record
American oil exports from Louisiana’s offshore supertanker port jumped to a record in January as Asian buyers are stocking up U.S. crude for a post-pandemic rebound in fuel consumption. Eight Continue Reading
Automakers Withdraw Support for Trump-Era Emissions Rule
Automakers have abandoned their legal fight for a Trump-era rule blocking California from setting emissions standards as the industry pushes President Joe Biden to accept a compromise with weaker fuel Continue Reading
China’s Covid Comeback Is Bad News for Climate as Emissions Rise – Bloomberg
China was likely the only major economy that grew last year after swiftly containing the coronavirus. It’s also the only major economy that saw carbon emissions rise. In December, emissions surpassed Continue Reading
China’s Largest Carbon Capture Project Is a Global Minnow
China completed construction of its largest carbon capture and storage plant as the country continues to develop technologies necessary to meeting its climate goals. China Energy Investment Corp. finished production Continue Reading
China Set To Add 140 GW Renewable Energy Capacity In 2021
China is expected to add 140 gigawatts (GW) of renewable energy power generation this year as its electricity consumption continues to grow, according to forecasts from the China Electricity Council Continue Reading
G.M.’s Bold Move on the Climate
General Motors’ announcement last week that it will stop making gas-powered cars, trucks and sport utility vehicles by 2035 and become carbon neutral by 2040 is even bolder than it Continue Reading
ExxonMobil Books First Annual Loss In Its Modern History
ExxonMobil ( NYSE: XOM ) booked its first annual loss since the 1999 merger of Exxon and Mobil, and the first annual loss in at least 40 years after the Continue Reading
US natural gas storage fields set to post largest withdrawal of heating season
US natural gas in storage likely plummeted by the largest volume of the season in the week ended Jan. 29 as a cold front increased the draw on stock significantly Continue Reading
ExxonMobil lowers 2021 capex, writes down $18.5 billion of upstream portfolio
ExxonMobil expects 2021 capital expenditures to decline 11-25% from 2020 levels as the company focuses on projects with lower breakevens amid an uncertain price environment, company executives said during a Continue Reading
ConocoPhillips raises capital budget 17% for 2021, maintains production outlook
Fresh from closing a major corporate acquisition, ConocoPhillips has set a 2021 capital budget of $5.5 billion, 17% higher than last year, that will maintain its production flat at 1.5 Continue Reading
U.S. Cities Are Under-Counting Their CO₂ Pollution By Almost 20%
About three-quarters of fossil-fuel CO₂ pollution comes from cities. At least 48 U.S. cities are under-counting their carbon dioxide pollution by nearly 20%, according to a new study that compares Continue Reading
Oil And Gas Pipelines Set To Suffer Under Biden
When U.S. President Joe Biden killed a high-profile, controversial oil pipeline project on his first day in office, he set the stage for more complicated and lengthy environmental reviews for Continue Reading
How Biden may get oil companies to pay more to drill
For years, environmental advocates have argued petroleum producers pay too little for the privilege of drilling on federally controlled lands — under rates originally set in the 1920s. Now President Continue Reading
Dutch lockdown extended as virus variants gain strongly
Dutch Prime Minister Mark Rutte extended almost all of his country’s tough lockdown measures on Tuesday for at least a month, saying that the rapid spread of the new more Continue Reading
BP sees more oil demand pain as pandemic hits fuel sales, refining margins
BP sees continued headwinds from COVID-19 related oil demand impacts in early 2021 but said it is making progress in cutting costs and debt as it pivots to becoming an Continue Reading
Study Finds AstraZeneca Shots Drastically Cut Transmission
The University of Oxford research is the first to document a vaccine substantially reducing the virus’s spread. British officials said the results underscored how mass inoculations were key to ending Continue Reading
Europe’s Slow Pace of Vaccinations Opens Door to Recession
The new year was supposed to bring improved economic fortunes across Europe, as coronavirus vaccines made their way into the bloodstream. Instead, the eurozone economy shrank at the end of 2020, according Continue Reading
US Signals Readiness To Discuss Lifting Of Nord Stream 2 Sanctions
The new U.S. Administration has signaled for the first time that it could be willing to discuss with Germany the lifting of the American sanctions on the Nord Stream 2 Continue Reading
Crude oil futures climb on improved demand, supply fundamentals
Crude oil futures rose mid-morning in Asia Feb. 2 on the back of an improvement in the crude oil demand outlook and managed supply levels after it was revealed that Continue Reading
Oil Prices for Feb. 02, 2021
Oil soared toward $55 a barrel in New York, touching its highest level in a year as the virus-recovery rally continued. West Texas Intermediate futures rose 2.4%, while the global Brent Continue Reading
Crude oil tests top of recent rage amid tightened supply outlooks
Crude oil futures settled near 11-month highs Feb. 1 as tightened supply outlooks overshadowed pandemic-related demand concerns. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Continue Reading
Oil settles up more than 2% as U.S. inventories fall, demand picks up
Oil prices settled more than 2% higher on Monday, buoyed by falling U.S. crude inventories and rising winter fuel demand due to one of the worst snowstorms to hit the Continue Reading
Goldman Expects Oil Demand To Rebound To 100 Million Bpd By August
Goldman Sachs had another bullish message for oil markets this week, saying in a note that it expected global oil demand to recover to pre-pandemic levels of 100 million bpd Continue Reading
Oil Prices Show Healthy Gains
Oil rose to the highest in more than two weeks, lifted by broader market strength and optimism over demand recovering this year. Futures climbed 2.6% in New York on Monday, Continue Reading
A Glimmer Of Hope For Oil Markets
Oil was off to a reasonably good start this year thanks to the start of a vaccination push and a Saudi commitment to cut more production. The continued surge in Continue Reading
Natural Gas Prices Explode On Cold Weather Reports
Natural gas prices exploded on Monday, with spot prices soaring more than 10% as cold weather threatens the Northeastern part of the United States. At 1:30 p.m. EST, the spot Continue Reading
Wintry Weather Lifts Natural-Gas Prices
The winter storm blanketing the Northeast and forecasts for a frigid February are boosting natural-gas prices. Natural-gas futures rose 11.1% to close at $2.85 per million British thermal units on Monday. Continue Reading
Sea Levels Are Rising Faster Than Most Pessimistic Forecasts
A May 20 Sentinel-2 satellite image shows the Dutch province of Zeeland, including the Port of Rotterdam, Europe’s biggest seaport in the upper right. Much of the region lies below Continue Reading
The Single Hottest Sector Of The Clean Energy Boom
Over the past half decade, the energy sector has been going through a major seismic shift, pivoting away from fossil fuels toward cleaner, renewable alternatives. The sector has, amazingly, maintained Continue Reading