Global equity benchmarks and oil prices rose on Friday while safe havens such as the dollar and U.S. Treasuries dipped as hopes for a global economic recovery overshadowed the continued Continue Reading
The IEA suggests in Oil 2021, its latest medium-term outlook, that there may be no return to normal for the world oil market in the post-Covid era. But it then Continue Reading
The biggest oil companies in the world, including Big Oil, Saudi Aramco, Russia’s top oil producers, and the top oilfield services providers, saw their combined revenues fall by 35.4 percent Continue Reading
Royal Dutch Shell RDS.A 2.33% PLC bet big on natural gas as the energy source of the future when it bought BG Group for $54 billion. Five years later, it appears the gas era won’t Continue Reading
A giant container ship grounded in the Suez Canal could be freed by the start of next week if heavier tugboats, dredging and a high tide succeed in dislodging it, Continue Reading
The Dutch emergency response team hired to free the vast ship blocking the Suez canal has pulled off some dramatic recoveries, including lifting Russia’s Kursk nuclear submarine from the Barents Continue Reading
The US has offered Egypt assistance in unblocking the Suez Canal, as the head of the world’s largest shipping company warned that businesses reliant on just in time supply chains Continue Reading
The forecast for Tuesday, March 23, showed wind gusts of more than 40 miles per hour and sand storms sweeping through northern Egypt. Indeed, such weather is common in the Continue Reading
An abrupt starboard turn in the Atlantic Ocean is the perfect illustration of the trade disruption caused by the blockage of one of the world’s most important waterways. The Marlin Continue Reading
The sun was rising on the Mediterranean one recent morning when the crew of an Iranian cargo ship heard an explosion. The ship, the Shahr e Kord, was about 50 Continue Reading
Libya’s Waha Oil Company is gearing up to restart the second phase of its key El-Farag gas field development, it said March 26. Not registered? Receive daily email alerts, subscriber Continue Reading
Move comes after renewed calls from US lawmakers for Saudi Arabia to lift its air and sea blockade UN data shows food imports through ports of Hodeidah and Saleef dropped Continue Reading
India says it is “calibrating” its vaccine exports in an attempt to balance surging domestic demand with international orders, raising doubts over the Serum Institute’s capacity to meet its global Continue Reading
Mexican President Andrés Manuel López Obrador is using the Texas Freeze to cut the country’s dependence on U.S. gas imports and to garner support for rolling back the energy sector’s Continue Reading
As Texas was crippled last month by frigid temperatures that killed more than 100 people and triggered widespread blackouts, drilling companies in the state’s largest oil field were forced to Continue Reading
Democrats on Capitol Hill are aiming to swiftly reinstate Obama-era rules designed to rein in the emission of methane from the nation’s oil and gas industry. Senate Majority Leader Charles Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 6 this week, after an increase of 9 last week. The Continue Reading
New Mexico regulators finalized rules to nearly eliminate routine natural gas flaring, making it the second state in the US to ban the practice, as operators in the Permian Delaware Continue Reading
Noble Corp.’s acquisition of Pacific Drilling announced this week in a merger of drillers points to the troubled state of the oilfield service sector, even with more activity expected this Continue Reading
As water-splitting technologies improve, often using porous electrode materials to provide greater surface areas for electrochemical reactions, their efficiency is often limited by the formation of bubbles that can block Continue Reading
In parts of Texas where Texas are not dealing with crippling cold temperatures and power outages, many are dealing with gas stations that have no gas. They also have long Continue Reading
Germany’s third wave of the coronavirus could be the worst so far and 100,000 new daily infections is not out of the question, the head of the Robert Koch Institute Continue Reading
European governments have warned that their hospitals are at risk of being overwhelmed by Covid-19 cases as leaders struggle to get a grip on the pandemic after a week of Continue Reading
The controversial Nord Stream 2 natural gas pipeline project will definitely be completed this year, Viktor Zubkov, chairman of the board of directors of Russia’s gas giant Gazprom, said on Continue Reading
The French government is close to finalizing a recapitalization plan for Air France after addressing some antitrust concerns raised by the European Commission, according to people familiar with the matter. The multi-billion-euro Continue Reading
Crude oil futures rose during mid-morning trade in Asia March 26, as the market braced for the possibility that the Suez Canal may remain blocked by the stuck Ever Given Continue Reading
Oil resumed gains as investors weighed the implications of a massive container ship still stuck in the Suez Canal after a volatile few days that that saw prices swing wildly Continue Reading
Oil prices reversed a sharp sell-off a day earlier to rise about 2% on Friday on mounting fears that it could take weeks to dislodge a giant container ship blocking Continue Reading
Oil dropped as a strengthening dollar and mounting lockdowns in Europe blunted the potential impact of crude cargoes backing up outside the blocked Suez Canal. Futures fell 4.3% in New Continue Reading
Lori, an Israeli-owned container ship, was attacked in the Arabian Sea on March 25, and is currently heading to India, where its damage will be assessed, a source close to Continue Reading
Efforts to dislodge the massive Ever Given container vessel blocking the Suez Canal will take until at least next Wednesday, longer than initially feared, raising the prospect that the incident Continue Reading
The Saudi-led coalition battling Houthi forces in Yemen said on Thursday it had intercepted and destroyed several explosive-laden drones aimed at Saudi Arabia, state TV reported. The coalition said the Continue Reading
A Saudi Aramco petroleum product distribution terminal in Jazan, near the border with Yemen, was hit by a projectile March 25, causing a fire in a storage tank, the Saudi Continue Reading
Reeling from the blockage in the Suez Canal, shipping rates for oil product tankers have nearly doubled this week, and several vessels were diverted away from the vital waterway as Continue Reading
Jihadi rebels are fighting to capture Palma, a strategic town in northern Mozambique where fighting continued Thursday after launching a three-pronged assault on the center a day earlier. The town Continue Reading
India, one of the world’s biggest vaccine producers, has imposed a de facto ban on jab exports as it seeks to prioritise local vaccinations amid an accelerating second wave of Continue Reading
With its own battle against the coronavirus taking a sharp turn for the worse, India has severely curtailed exports of Covid-19 vaccines, triggering setbacks for vaccination drives in many other Continue Reading
The largest U.S.-based crude oil lobby has voted to support a measure that would tax or otherwise levy a price on carbon dioxide emissions. While surprising that the American Petroleum Continue Reading
The oil industry’s top lobbying group will push Congress for legislation to price carbon emissions across the economy, in a sharp policy turnabout a decade after the industry helped kill Continue Reading
The trade war with China isn’t over yet. While the Trump administration is now a thing of the past, tensions between the United States and China are still going strong. Continue Reading
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
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
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
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
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
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
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
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’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 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
