US coal generation rises to five-month high in Jan: EIA
US power generation from coal totaled a five-month high 81.81 TWh in January, up 3.9% from December and 25.7% higher than the year-ago month, according to data from the US Continue Reading
U.S. Oil Lobby Backs Carbon Fee as Substitute for Regulation
The American Petroleum Institute board voted Thursday to endorse putting a tax or other price on carbon dioxide emissions, a shift for the oil industry that could influence the Biden administration’s Continue Reading
Limetree Bay refinery on St. Croix will test Biden’s environmental justice promises
Two hours after midnight in this island paradise, a cloudy vapor rose from a massive oil refinery and floated over nearby homes as quietly as a ghost. The fine mist Continue Reading
Shrinking North American LNG field raises fear of ‘oligopolistic’ supplier future: panelists
Highlights Mismatch between available financing, quality projects Bankers encourage greater contract, distribution flexibility Houston — There is a mismatch between the amount of available financing and the number of quality Continue Reading
Banning New Gas Cars Is Key for Hitting EU’s Climate Goals
The European Union must set a date to phase out the sale of new petrol and diesel cars so that the region meets its aim of becoming climate-neutral, according to nine Continue Reading
The UK Prepares To Boost North Sea Drilling
The U.K. has announced a ‘Landmark Deal’ to drill new wells in the North Sea securing the future of U.K. oil and saving thousands of jobs while calling net-zero promises Continue Reading
Crude oil futures fall on prospect of resumption in Suez Canal flows, bearish EIA data
Crude oil futures slid during the mid-morning trade in Asia on possibility of a rapid resumption in oil flows as a grounded container ship blocking the Suez Canal was partially Continue Reading
Oil Retreats After Surge With Volatility Rising Amid Suez Mishap
Oil retreated in Asia as traders monitored efforts to dislodge a massive ship blocking the Suez Canal, with market volatility rising after two wild days that saw prices whipsaw around Continue Reading
Oil Up After Suez Canal Blockage
Oil rebounded, following a sell-off on Tuesday, as investors assessed the impact of a blockage in the Suez Canal and European manufacturing data beat expectations. Futures in New York added Continue Reading
Oil Industry Hit Hard By New Travel Restrictions
A slump in Europe’s travel industry could have a knock-on effect for oil and gas as lockdowns spread across Europe once again. European airline shares plunged this week as Germany, Continue Reading
How Will We Pay for the Energy Transition?
Earlier this month, the International Renewable Energy Agency said the world needed to invest $131 trillion by 2050 in order to limit the estimated global rise in average temperatures to Continue Reading
December Non-OPEC Oil Output Continues Rebound from May Low
Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIAʼs International Energy Statistics and updated to December 2020. Continue Reading
COVID-19 has shown that decarbonization goals are achievable
Decarbonizing energy in a way that is affordable for all will require determination and a variety of technologies, policies and regulation, writes S&P Global Platts’ global director of analytics, Chris Continue Reading
Offshore Oil & Gas Spending Set To Jump To $44 Billion In 2021
After last year’s lowest spending on new field developments in 30 years, the offshore oil and gas sector is set to significantly increase capital expenditures this year to around US$44 Continue Reading
Report Accuses Banks Of Creating “Climate Chaos”
A new report by a group of environmentalist organizations has accused the world’s biggest banks of wreaking “climate chaos” on the world by investing trillions in the oil and gas Continue Reading
OPEC+ Will Keep A Lid On Oil Production
OPEC+ will likely decide to keep oil production essentially steady for another month, according to four Reuters sources. Saudi Arabia and the UAE have both spoke out in favor of Continue Reading
Iran Looks To Expand Oil Influence In Africa Through New Pipeline
Iraq remains the key cover through which Iran transports its oil to the rest of the world, as has been well-documented by OilPrice.com , so the news last week that Continue Reading
Turkey Looks To Improve Energy Relations With Egypt
Ever since the attempted coup in Turkey of 2016, Ankara has become more assertive regarding its near abroad foreign policy. With the rise of the AKP in the early 2000s, Continue Reading
Iran’s Oil Exports To Rise In March
Iran’s crude oil exports are rising this month compared to February and March last year, tanker tracker Petro-Logistics told Reuters on Tuesday. Last week, Geneva-based Petro-Logistics said that Iranian oil Continue Reading
13 Million Barrels Of Oil Could Be Affected By Suez Canal Blockage
As many as 10 crude tankers carrying around 13 million barrels of oil could be affected by the disrupted traffic in the Suez Canal, which was blocked early on Wednesday Continue Reading
Suez Canal Jam Makes Oil Tankers Profitable After Losing Money
t’s taken a maritime crisis to offer hard-hit oil tanker owners an unexpected reprieve, although the relief is expected to be short-lived. Shippers have been making losses on the delivery of cargoes since the Continue Reading
Suez Snarl Seen Halting $9.6 Billion a Day of Ship Traffic
A back-of-the-envelope calculation shows there’s about $9.6 billion worth of daily marine traffic halted by the massive container vessel that lodged in the Suez Canal earlier this week, blocking transit Continue Reading
Elite Salvagers Set to Tackle Massive Ship Blocking Suez Canal
An elite team is set to tackle the monumental challenge of freeing the massive container vessel that’s blocking the Suez Canal, as a backlog of ships continued to build up Continue Reading
Unclear when stuck container ship Ever Given to move out of Suez Canal: owner
Japan’s Shoei Kisen Kaisha, owner of the Ever Given, said March 25 it is currently considering what needs to be done to improve the situation its container vessel, which ran Continue Reading
Leap in Gas Prices Puts $3 a Gallon in Sight
The prospect of summer drivers crowding U.S. highways is powering steep gains in the price of gasoline, a sign of economic recovery and a boon for the pandemic-ravaged energy industry. Lifted Continue Reading
India Is Shopping In The Americas To Cut Reliance On Middle East Oil
Indian refiners are going shopping as far as North and South America, buying some crude grades for the very first time, as the world’s third-largest oil importer looks to diversify Continue Reading
India’s second Covid wave undermines herd immunity theory
India is experiencing a sharp rise in coronavirus infections, increasing pressure on New Delhi to accelerate its vaccine rollout and puzzling scientists after a retreat of the pandemic had buoyed Continue Reading
World’s Newest Oil Hotspot Undeterred By Poor Drilling Results
After a series of notable oil discoveries in offshore Guyana and then Suriname over the last six years the impoverished South American nations became a focal point for offshore drilling Continue Reading
The U.S. Imports Record Share Of Russian Oil Despite Tensions
U.S. refiners have turned to Russian oil and petroleum products to fill the gap that sanctioned Venezuelan crude and drastically reduced OPEC shipments have left in U.S. imports, despite the Continue Reading
Amid budding industry optimism, US natural gas production hit one-year high
Domestic gas production surged to a nearly 12-month high this week as rising optimism in the US oil and gas industry continues to fuel an expansion in drilling activity and Continue Reading
Permian Basin Methane Emissions Are Back at Pre-Pandemic Levels
One rather grim data point in the economic recovery from the pandemic: Methane emissions from America’s largest oil field have rebounded. Pollution from the Permian Basin dropped 60% from March to Continue Reading
GM further cuts production in North America due to global chip shortage
General Motors Co extended production cuts in North America on Wednesday due to a worldwide semiconductor chip shortage that has impacted the auto sector. The U.S. automaker said its Wentzville, Continue Reading
US crude inventory builds extend amid lasting polar vortex impacts to refiners
US crude inventory builds extended in the week ended March 19, US Energy Administration data showed March 24, as refinery runs continued to see lingering effects from the mid-February polar Continue Reading
Pandemic rages in Eastern Europe leaving hospitals struggling to cope
Hungary’s hospitals are under “extraordinary” pressure from rising coronavirus infections, its surgeon general said on Wednesday, as the country became a hotspot in the third wave of a pandemic that Continue Reading
20,000 White Crosses: Marking Covid’s Toll in Central and Eastern Europe
More than 20,000 white crosses have appeared painted on the cobblestones of a medieval square in central Prague, each representing a victim of Covid-19 — an effort highlighting the ravages Continue Reading
Coronavirus: Germany’s Merkel reverses plans for Easter lockdown
EPA Chancellor Angela Merkel said she took “ultimate responsibility” for the U-turn German Chancellor Angela Merkel has cancelled plans for a strict lockdown over Easter, just a day after the Continue Reading
Oil Gets Suez Blockage Bounce Following Demand-Driven Sell-Off
Oil rebounded, following a sell-off on Tuesday, as investors assessed the impact of a blockage in the Suez Canal and European manufacturing data beat expectations. Futures in New York added as Continue Reading
Oil bounces back but recovery stunted by European lockdowns, U.S. stock build
Oil prices rose more than 1% on Wednesday as investors sought bargains following the previous day’s slump, but the recovery was stunted by fears of a slow recovery in demand Continue Reading
Crude slides 6% as pandemic spread dims near-term outlooks
Crude oil futures settled 6% lower March 23 as the market reeled from pandemic-dented demand outlooks and a stronger US dollar. NYMEX May WTI was down $3.79 at $57.76/b, settling Continue Reading
Oil Prices Fall Further After API Reports Crude Inventory Build
The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 2.927 million barrels for the week ending March 19. Analysts had predicted a much smaller Continue Reading
118,500 Oil & Gas Wells To Be Drilled Worldwide Through 2022
After a challenging 2020, the oil and gas demand recovery – supported by vaccination efforts and OPEC+ supply cuts – is proving good for drilling activity. Rystad Energy expects around Continue Reading
What if the Perfect Climate Fix Can’t Arrive in Time?
Congratulations, everybody. We did it. It’s March 24, 2021—tomorrow morning!—and we’ve woken up to discover just sitting there in the garage a boundless zero-carbon technology. What do you think it Continue Reading
Revamping Libya’s Oil Sector Is Top Priority in Historic Budget
Libya’s state oil producer is set to get the biggest portion of development spending in the country’s new budget, potentially aiding plans to raise output as the industry recovers from Continue Reading
Iraq production jumps as OPEC-plus pressure eases
Basra Oil Company workers reconnect gas flares of the Nahr Bin Omar oil field further away from residential areas. (Source: Basra Oil Company media office) Iraqi oil production jumped by Continue Reading
Suez Canal Blockage to Ripple Through Global Energy Market
The blockage of the Suez Canal by a giant container vessel is likely to send ripples of disruption through the global energy supply chain. European and U.S. refiners that rely on the Continue Reading
Tug boats work to free giant container ship stuck in Suez Canal
Eight tug boats were attempting on Wednesday to free a 400m (440-yard) long container ship that ran aground in the Suez Canal, blocking vessels passing through one of the world’s Continue Reading
Saudi Arabia Skips LNG, Bets Big On Hydrogen
Last year, Saudi Arabia’s national oil company Saudi Aramco sent shockwaves through the natural gas markets after it announced that it was kicking off the biggest shale gas development outside Continue Reading
Why Aramco Isn’t Rushing To Boost Its Oil Production
Saudi Aramco is in no hurry to expand its oil production capacity to 13 million bpd as it said it would last year just as the pandemic was beginning to Continue Reading
Kazakhstan Is Eager To Abandon The OPEC+ Deal
Kazakhstan meticulously studied the lessons of the 2014/2015 oil slump and has so far survived the last 12 months’ market depression with legislative and executive poise. Though still heavily dependent Continue Reading
India’s Carbon Neutral Aim Hinges on Top Emitters Using Hydrogen
India’s steel mills, the second-largest producers globally, expect hydrogen-based production to be key to cutting pollution as the nation comes under pressure to zero out greenhouse gas emissions. As the world’s third-biggest Continue Reading