The Risk of Letting Big Finance Write Its Own Climate Rules
The six biggest Wall Street banks have now promised to get to net-zero emissions, after Citigroup Inc., Goldman Sachs Group Inc. and Wells Fargo & Co joined the club this Continue Reading
China’s Dirty Recovery Will Make Curbing Climate Change Tougher
China’s economy roared back from the pandemic on a plume of greenhouse gas emissions, raising questions over how the nation will balance new growth targets with its climate change goals. Carbon Continue Reading
Hurricane-Stoking La Nina Could Make a Comeback After Fading
The La Nina climate pattern that egged on a record 2020 Atlantic hurricane season and left the western U.S. parched will likely fade in the next few months, but there’s Continue Reading
Saudi-Led Coalition Carries Out 32 Airstrikes Against Houthi Rebels
The battlefield in Yemen is getting more volatile with each passing day. On March 10th, the Saudi-led coalition released a video claiming to have destroyed an Ansar Allah air defense Continue Reading
How Middle East Producers Are Pricing Their Oil
It is unlikely that the bullish sentiment currently driving oil markets can be sustained over a prolonged period, but Middle Eastern producers are determined to make the most over higher Continue Reading
How a Hasty Move to Change the World’s Key Oil Price Unraveled
How do you measure the value of the world’s most important commodity? It’s a conundrum that brought uproar in the oil market over the past few weeks after S&P Global Continue Reading
Tesla Looks To Develop EV Charging Infrastructure In India
Tesla is in initial talks with the largest Indian integrated power company, Tata Power, about a possible agreement about electric vehicle (EV) charging infrastructure in India, CNBC-TV18 reported on Friday, Continue Reading
US and Asia allies launch major vaccine drive to counter China
The US has crafted a plan with Japan, India and Australia to provide Ibn doses of Johnson & Johnson’s Covid-19 vaccine to south-east Asian nations in an effort to counter Continue Reading
China’s Steel Industry Has Been Hit Hard By Its ‘War On Pollution’
In many emerging markets, economic growth has come at the stark price of appalling levels of pollution. But the Financial Times suggested that in China , home of the largest Continue Reading
China Aims to Vaccinate 70-80% of Population By Mid-2022
China is aiming to vaccinate 70-80% of its population by mid-2022, the head of the country’s Center for Disease Control said Saturday. With four approved vaccines, China will vaccinate 900 Continue Reading
Sustained higher oil prices to spur U.S. output growth -JP Morgan
Sustained higher oil prices are expected to spur higher U.S. oil output this year, JP Morgan analysts said in a weekly note. “At current prices, most U.S. onshore operators are Continue Reading
Charting the Global Economy: U.S. Is Turbocharging the World GDP
Joe Biden’s $1.9 trillion stimulus plan isn’t just boosting the U.S., it’s also helping economies around the world. The latest forecasts from the OECD included huge upgrades for 2021, thanks in Continue Reading
Texas Refineries Nearly Back to Normal
Nearly a month after an Arctic blast knocked out more than 18 of 30 Texas refineries, and almost 5 million barrels a day of crude-processing capacity, all but two sites Continue Reading
The U.S. will partner with Japan, India and Australia to expand global vaccine supply.
President Biden and Vice President Kamala Harris met virtually with Prime Minister Narendra Modi of India, Prime Minister Scott Morrison of Australia, and Prime Minister Yoshihide Suga of Japan at Continue Reading
Oil Prices Slip As U.S. Rig Count Falls
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States fell by 1 this week. The total number of active oil and gas Continue Reading
JP Morgan: U.S. Shale Production Set To Climb
Current oil prices are high enough to warrant increased U.S. shale activity in the second half of the year if prices hold around these levels, according to JP Morgan. “At Continue Reading
California County Sued Over A Potential 43,000 New Oil Wells
The Sierra Club and several other environmentalist organizations are suing Kern County in California for approving a revised ordinance that will allow for the drilling of several thousand new oil Continue Reading
Texas Strikes Back At The Anti-Fossil Fuel Lobby
As a growing number of Wall Street banks and virtually all major asset managers declare their shift away from fossil fuel investments, the Texas Senate is striking back with a Continue Reading
Shale Giants Proving OPEC Right
Saudi Arabia’s bet that the golden age of U.S. shale is over appears to be a safe one — for now, at least. A round-up of data on shale drillers Continue Reading
Shell Doubled Its Oil Trading Profits In 2020
Shell doubled its crude and refined products trading profits in 2020 from 2019, with its trading offsetting some of the negative effects of the collapse in refining margins and fuel Continue Reading
German Cases Rise; U.S. Holding on to Astra Shots: Virus Update
Germany reported its second-highest daily virus infections since the start of the month, while Austria’s chancellor is among those demanding a European Union summit over the distribution of vaccines. The Continue Reading
Crude oil futures rally runs out of steam, revised OPEC forecast weighs
Crude oil futures were rangebound, with a slight downward bias, during mid-morning trade in Asia March 12, as further upside was limited after the overnight rally. At 10:49 am Singapore Continue Reading
Oil Futures Show Strong Gains
Oil rose the most in almost a week alongside a broader market rally as signs emerged that a recovery in fuel consumption is gaining traction. Futures in New York climbed Continue Reading
Can Fuel Cell Cars Compete With The EV Boom?
If there has ever been a misleading headline, it has to be the one above, at least according to European carmakers. Hydrogen cars, they say, are not a viable alternative Continue Reading
Why Are Investors Turning Their Backs On Fossil Fuel Projects?
Over the next five years, oil and gas companies will definitely see less investment as the world’s biggest institutional investors are increasingly looking at the environmental credentials of the companies Continue Reading
OPEC’s Shock Move to Tighten Market Leaves Oil World Divided
When OPEC+ unveiled its bold move to tighten crude markets last week, the oil world was united in surprise. But on the merits of the plan, it’s starkly divided. The shock decision, Continue Reading
OPEC bullish on H2 oil recovery as it seeks tighter market
Global oil demand will rebound strongly in the second half of 2021, but the call on OPEC crude will be lower than previously expected, the producer group’s latest analysis showed, Continue Reading
OPEC’s Shock Move to Tighten Market Leaves Oil World Divided
When OPEC+ unveiled its bold move to tighten crude markets last week, the oil world was united in surprise. But on the merits of the plan, it’s starkly divided. The shock decision, Continue Reading
‘This is hell’: UN food aid chief visits Yemen, fears famine
The head of the U.N. food agency warned after a visit to Yemen that his underfunded organization may be forced to seek hundreds of millions of dollars in private donations Continue Reading
Israeli Strikes Target Iranian Oil Bound for Syria
Israel has targeted at least a dozen vessels bound for Syria and mostly carrying Iranian oil out of concern that petroleum profits are funding extremism in the Middle East, U.S. Continue Reading
Iraq Is Losing Market Share In European Oil Markets
Almost everything in life is a matter of perspective, including developments in the oil and gas industry. For people who would start to study global oil flows today, it would Continue Reading
Extra Saudi Cut Sends OPEC Oil Production Plunging By 650,000 Bpd
OPEC’s crude oil production fell by 650,000 barrels per day (bpd) in February, due to the extra cut from top producer and de facto leader Saudi Arabia, the cartel’s Monthly Continue Reading
Nigeria: Bayelsa Community Shuts Conoil’s 30,000 BPD Flow Station
The protesting community says the company was “insensitive to its social obligations to the people.” A crude production flow station operated by Conoil Production at Ango field in Koluama, Southern Continue Reading
Coal India Approves $6.4 Billion In New Coal Projects Despite Green Push
State miner Coal India has approved as many as 32 new coal mining projects worth a total investment of US$6.4 billion, as one of the world’s largest coal consumers looks Continue Reading
Two Major Institutions Team Up To Boost Renewables In Latin America
The Inter-American Development Bank (IDB) and the International Renewable Energy Agency (IRENA) are teaming up to promote renewable energy investment in Latin America and the Caribbean, backing the energy transition Continue Reading
Argentina’s Shale Patch Is Poised For A Comeback
After a harsh 2020 and slow post-pandemic recovery Argentina’s hydrocarbon sector has come roaring back to life. A combination of substantially higher oil prices, government subsidies, favorable legislation and growing Continue Reading
Venezuela’s diesel shortages, the latest blow to ailing Venezuela
Fearful of being robbed and scared of losing his place in a miles-long line for diesel, Daniel Trocel spent the entire night in his truck parked along the edge of Continue Reading
China Splurges On Iranian Oil Despite U.S. Sanctions
Despite the U.S. sanctions on Iranian oil exports, some Chinese refiners are buying so much Iranian crude that the ports in the Shandong province, where most independent refiners are based, Continue Reading
Ship Forced to Wait 269 Days Unloads Australian Coal in China
A ship that waited nine months is among a handful of vessels that China has let unload their cargoes of Australian coal, a reprieve for some of the seafarers and Continue Reading
Tight oil public E&Ps maintain 55% reinvestment rate in 4Q20
Rystad Energy Webinars We are adapting to the current digital workplace and hosting numerous webinars going forward, some on short notice. Follow our webinar page to make sure you don’t Continue Reading
Western states chart diverging paths as water shortages loom
As persistent drought and climate change threaten the Colorado River, several states that rely on the water acknowledge they likely won’t get what they were promised a century ago. But Continue Reading
U.S. must slash emissions by at least 57% to meet Paris climate target: report
The United States needs to set a target to slash its greenhouse gas emissions between 57% and 63% below 2005 levels by 2030 in order to achieve the Biden administration’s Continue Reading
Biden Is Betting His Whole Climate Agenda on Infrastructure
President Joe Biden Candidate Joe Biden rode into the White House promising to build back the economy after the devastation of Covid-19 with cleaner energy and a lower carbon footprint. Continue Reading
Big Energy Emerges As Winner From Texas Winter Storm
As oil and gas majors surprisingly stand to profit in the long-term from the Texas storm last month, several regulators emerge largely unscathed. In the wake of the severe winter Continue Reading
US gas storage draw measures well below normal for second straight week
US natural gas storage volumes declined less than the market expected for the second consecutive week, weighing again on prices as only three net draws likely remain before injection season Continue Reading
US rig count grows by 1 on week to 492, led by increase in oil activity: Enverus
Highlights Permian basin rigs climb four to 226 Gas focused-rigs hit four-week low of 121 Chevron slowing activity in Permian, for now The US oil rig count pushed to an Continue Reading
Regan Confirmed to Lead Biden’s EPA in Bipartisan Senate Vote
The Senate confirmed Michael Regan as EPA administrator on Wednesday, putting the former North Carolina environmental chief in line to chart broad federal policies combating climate change and countering pollution. The Senate’s Continue Reading
US jobless claims fall to 712,000 as pace of layoffs eases
The number of Americans seeking unemployment benefits fell last week to 712,000, the lowest total since early November, evidence that fewer employers are cutting jobs amid a decline in confirmed Continue Reading
Battery Giant LG Chem To Invest $4.5 Billion In U.S. Expansion
LG Chem is prepared to invest $4.5 billion over the next five years to expand battery capacity in the United States. In a Thursday email, according to Bloomberg Green , Continue Reading
US gas storage draw measures well below normal for second straight week
US natural gas storage volumes declined less than the market expected for the second consecutive week, weighing again on prices as only three net draws likely remain before injection season Continue Reading