China Overtakes U.S. As World’s Largest Refiner
As the shift in oil demand from Covid-19 turned the tables of regional levels of fuel production and exports, China succeeded in overtaking the USA as the world’s biggest oil Continue Reading
Australia Dangerously Dependent On Chinese Fuel Imports
There’s growing alarm in Canberra over what’s expected to be Australia’s inevitable increased dependence on foreign petroleum amid a major influx of cheaper refined oil products from China. It comes Continue Reading
People’s Bank of China Goes All-In On Clean Energy
In a major boost for renewable energy, the People’s Bank of China (PBOC) has announced that it will increase financial support for wind and solar power development to meet carbon Continue Reading
OPEC’s Biggest Fear Is Becoming A Reality
U.S. oil drillers are no longer sitting in the trenches, waiting for the pandemic storm to pass. They are once again in growth mode, according to the first-quarter energy survey Continue Reading
U.S. pledges to slash solar energy costs by 60% in a decade
The Biden administration on Thursday set a goal to cut the cost of solar energy by 60% over the next decade as part of an ambitious plan to decarbonize the Continue Reading
Vanishing Fracklog Shows U.S. Shale Patch Getting Back to Work
A backlog of pre-drilled shale wells is rapidly shrinking as oil prices rise, signaling that producers are ready to put drilling crews back to work as the industry rebounds from Continue Reading
US jobless claims fall to 684,000, fewest since pandemic
The number of people seeking unemployment benefits fell sharply last week to 684,000, the fewest since the pandemic erupted a year ago and a sign that the economy is improving. Continue Reading
A new target in the US vaccine rollout: reluctant Republicans
For the past five weeks, nurses at Cobre Valley medical center in Globe, Arizona, have been vaccinating anyone aged 18 and over, after becoming one of the first places in Continue Reading
Canada Oil Industry to Shed 7,300 Jobs This Year
Canada’s oil industry could see another 7,300 jobs lost this year, said the Petroleum Labour Market Information division of Energy Safety Canada, as quoted by Global News. The job loss Continue Reading
US gas in storage posts larger-than-expected pull in likely last draw of season
US gas storage volumes declined more than the market expected in the week ended March 19, prompting a slight rise to the Henry Hub summer strip despite the likelihood of Continue Reading