Nigeria’s Crude Oil Production Declined By 19,6% in Q4
Nigeria’s crude oil production declined by 19.6 per cent to an average of 1.52 million barrels per day (mbpd) in the fourth quarter of 2020, compared with the 1.89 mbpd Continue Reading
Global wind additions accelerate in 2020, but challenges to scale remain
While 2020 was a year of unprecedented disruptions, wind power newbuild activity proved resilient, with wind turbine capacity additions accelerating across the globe. S&P Global Platts Analytics estimates that about Continue Reading
Saudi Arabia targets 1 million b/d domestic oil demand reduction
Saudi Arabia plans to reduce domestic consumption of liquid hydrocarbons by 1 million b/d for use “in a better way”, the kingdom’s Energy Minister Prince Abdulaziz bin Salman said on Continue Reading
India Considers Net Zero Goal Around 2050, a Decade Before China
Top Indian government officials are debating whether to set a goal to zero out its greenhouse gas emissions by mid-century, an ambitious target that would require overhauling its coal-dependent economy. Continue Reading
The Rock Standing in the Way of China’s Climate Ambitions: Coal
Xi Jinping, China’s top leader, has promoted an uplifting vision for growth increasingly freed from greenhouse gas pollution, but turning that plan into action is already proving contentious. The big Continue Reading
Are Analysts Underestimating Chinese Oil Demand?
China’s annual session of the National People’s Congress (NPC) last week set an annual economic growth target that – at ‘above 6 per cent’ – looks conservative to many and, Continue Reading
Biden’s Solar Energy Plan Has A Major Space Problem
US President Joe Biden clinched the top role last November on the back of a campaign promise to launch the Clean Energy Revolution in the country, with a chief aim Continue Reading
Permian Production Set To Rise Despite Shale Decline
Oil production from the seven largest U.S. shale regions is set to decline by 46,000 barrels per day (bpd) in April, but output in the biggest and most prolific basin, Continue Reading
Novel pathway for aviation fuel from food waste–derived volatile fatty acids (VFA) could lead to 70% blends, up to 165% reduction in GHG
Researchers from the National Renewable Energy Laboratory (NREL), the University of Dayton, Yale University, and Oak Ridge National Laboratory have demonstrated the production of sustainable aviation fuels (SAF) from food Continue Reading
US Drivers Burning More Gas
After a year of getting pummeled by the coronavirus, U.S. oil demand is bouncing back — and this time it looks like it’s here to stay. Retail gasoline sales rose Continue Reading
Shale Producers Find Themselves in Unusual Position
Shale’s newfound prudence after last year’s crash is putting producers in the unusual situation of reducing oil output just as prices surge. More focused than ever on keeping spending in Continue Reading
Biden’s Energy Agenda To Reduce Oil Production And Boost Prices
Joe Biden had a neat, nine-point plan for energy when he campaigned for president. He started putting this plan into action on his first day in the White House with Continue Reading
How Biden’s Tax Hike Affects Oil
President’s Biden’s administration is reportedly planning the first major tax increase in nearly three decades in the next economic stimulus package. The president is reportedly planning to include the first Continue Reading
Wind Energy Installation Breaks Records In Pandemic Year 2020
The pandemic didn’t deter booming wind power capacity additions last year when global installations surged to record levels, driven by China and the United States. The phase-out of China’s onshore Continue Reading
Demand doubts, energy transition impede outlook for refining sector: IEA
Refineries will have to find a way to navigate both the move to decarbonization and the demand uncertainties brought on by the pandemic, the International Energy Agency said March 17. Continue Reading
Natural gas in storage set to decrease by about 30% of five-year average: survey
Analysts call for another below-average storage withdrawal to US gas stocks, and a rare seasonal net injection is possible in the weeks ahead as the February deep freeze fades into Continue Reading
Analysis: Germany bets U.S. will make the best of ‘bad deal’ Nord Stream gas link
Germany is betting the U.S. administration will take a pragmatic approach to the Nord Stream 2 project to ship Russian gas to Europe and is pushing for the pipeline’s completion Continue Reading
Pfizer to deliver 200 mln vaccine doses to EU in second quarter
The European Commission expects to receive about 200 million doses of the Pfizer/BioNTech (PFE.N), COVID-19 vaccine in the second quarter, it said for the first time on Tuesday. The EU is Continue Reading
World’s Top Oil Trader Vitol Smashed Profit Record in 2020
Vitol Group reaped record profits of around $3 billion last year as the world’s largest independent oil trader surfed the dramatic moves in energy markets, according to people familiar with Continue Reading
VW Soars Most Since Famous Short Squeeze on Plans to Beat Tesla
Volkswagen AG shares surged the most since a historic short squeeze a dozen years ago after back-to-back days of briefings on how it plans to supplant Tesla Inc. as the global electric Continue Reading
EU regulator ‘convinced’ AstraZeneca benefit outweighs risk
The European Union’s drug regulator insisted Tuesday that there is “no indication” the AstraZeneca vaccine causes blood clots as governments around the world faced the grimmest of dilemmas: push on Continue Reading
Brussels to propose Covid certificate to allow EU-wide travel
Brussels is to propose the creation of a Covid-19 certificate to allow EU citizens to travel inside the bloc after a push by tourism-reliant countries devastated by the pandemic. The Continue Reading
Volkswagen Aims to Use Its Size to Head Off Tesla
Volkswagen is going all in on electric cars, with plans to build battery factories in Europe, install a network of charging stations and slash the cost of emission-free travel. That Continue Reading
Coronavirus live updates: European Medicines Agency remains ‘firmly convinced’ that benefits of AstraZeneca vaccine outweigh risks
Several world leaders and politicians are pushing back against vaccine skepticism amid concerns that fewer people are willing to be inoculated against the coronavirus, particularly among Republicans in the United States, and Continue Reading
Stena Bulk unveils concept vessel design for electric, modular hybrid bulk carrier: InfinityMAX
Leading tanker shipping company Stena Bulk unveiled its concept InfinityMAX hybrid bulk carrier design for zero-carbon, multi-modal shipping. The InfinityMAX concept, which is designed to carry both dry and wet Continue Reading
Construction of the world’s largest project plant for storing green hydrogen in LOHC begins in Germany
The world’s largest plant for storing green hydrogen in liquid organic hydrogen carriers (LOHC) on an industrial scale is being built at CHEMPARK Dormagen. The state of North Rhine-Westphalia is Continue Reading
Crude oil falls on pandemic concerns, supply-side worries, firm dollar
Crude oil futures fell during the mid-morning trade in Asia March 16, as the market sentiment was knocked by a trifecta of rising COVID-19 cases, supply-side worries and strengthening dollar. Continue Reading
Oil Retreats for Third Day as WTI’s Contango, Dollar Take Toll
Oil retreated for a third day to trade below $65 a barrel, hurt by weakness in the market’s near-term pricing structure and a firmer dollar. West Texas Intermediate fell 0.9%, Continue Reading
Oil falls amid stockpiling concern; European vaccine woe threatens demand
Oil prices fell on Tuesday, extending declines for a third day, as concerns about rising stockpiles in the United States added to the threat to demand posed by countries including Continue Reading
Oil Prices Retreat As Biden Plans Major Federal Tax Hike
Despite optimism from Chinese data overnight, forecasts for lower OPEC+ output, and a weaker dollar, oil prices are tumbling this morning with WTI back below $64.50… Some have suggested the Continue Reading
Oil slips, retreats from gains notched on strong Chinese data | Reuters
Oil prices edged lower on Monday, pulling back from early gains fostered on strong Chinese economic news and ongoing supply restraint from major oil producers. Crude benchmarks have steadily climbed Continue Reading
ANALYSIS: US crude oil inventory builds likely extend as refinery runs hold below normal
US crude oil inventory builds likely extended in the week ended March 12 as the Gulf Coast refinery complex continued to operate at reduced capacity in the wake of the Continue Reading
What Countries Will Fight Over When Green Energy Dominates
The Rand Corporation’s been designing war games with the Pentagon since the 1950s, modelling such hard-nosed security scenarios as a two-front U.S. war with China and Russia. Now the think Continue Reading
World oil demand may have peaked in 2019 amid energy transition
Global oil demand may have hit the peak in 2019 and natural gas will follow suit around 2025, the director-general of International Renewable Energy Agency said March 16, as the Continue Reading
World’s Three Biggest Coal Users Getting Ready to Burn Even More
The world’s three biggest consumers of coal, the dirtiest fossil fuel, are getting ready to boost usage so much that it’ll almost be as if the pandemic-induced drop in emissions Continue Reading
Climate change: Jet fuel from waste ‘dramatically lowers’ emissions
A new approach to making jet fuel from food waste has the potential to massively reduce carbon emissions from flying, scientists say. Currently, most of the food scraps that are Continue Reading
Libya’s New Government : Here’s What it Means for the Oil World
Libya’s back in the oil game after years of false starts and setbacks. Energy facilities shut or damaged during its civil war were reopened last year and the OPEC member Continue Reading
Middle East Producers Cash In On Oil Price Rally
The world’s top oil exporter, Saudi Arabia, wasn’t just thinking about the global oil market when it rolled over its extra production cut into April and had the members of Continue Reading
The Big OPEC+ Gamble Appears To Be Paying Off
U.S. oil firms focused exclusively on the shale patch are expected to only marginally increase their combined production this year compared to 2020, according to Bloomberg Intelligence data of listed Continue Reading
U.S. Overtakes Saudi Arabia As India’s No.2 Crude Oil Supplier
India boosted significantly crude oil imports from the United States in February, while it slashed purchases from the world’s top oil exporter, Saudi Arabia, to the point of America overtaking Continue Reading
OPEC Update, March 2021
The OPEC Monthly Oil Market Report for March 2021 was published this past week. The last month reported in each of the charts that follow is February 2021 and output Continue Reading
Libya forms new oil ministry as NOC eyes releasing revenues
Libya’s state-run National Oil Corporation is poised to release oil revenues to the central bank after the interim Government of Unity (GNU) was sworn in on March 15, creating a Continue Reading
Iranian Oil Surge to China Hurts OPEC Efforts to Tighten Supply
The torrent of Iranian oil that’s been gushing into China in recent weeks is crowding out imports from other nations and threatening to complicate efforts by the OPEC+ alliance to Continue Reading
Saudi Arabia Must Prepare For More Attacks On Its Oil Industry
As highlighted in OilPrice.com just after the last major attack on Saudi Arabian oil facilities on 14 September 2019, there are many positive aspects from Iran’s perspective in pursuing such Continue Reading
Kenya: Tullow Woes Scuttle Kenya’s Oil Dream
Had everything gone according to plan, Kenya would be reading to begin its commercial export of crude oil on a large scale next year. This was after success in sale Continue Reading
UAE Sheikh Lays Claim to Oil Cargo U.S. Says Is From Iran
The U.S. policy of stopping Iran from exporting oil suffered a setback after a United Arab Emirates sheikh laid claim to a cargo that Washington seized and alleged is from Continue Reading
Nigeria Unemployment Rate Rises to Second Highest on Global List
Unemployment in Africa’s largest economy surged to the second highest on a global list of countries monitored by Bloomberg. The jobless rate in Nigeria rose to 33.3% in the three months Continue Reading
South Africa Hopes To Become The Next Big Shale Success Story
It’s been nearly a decade since South Africa lifted a freeze on shale gas exploration, but the resource-rich nation’s potential ensuing shale revolution never quite materialized. Much attention and expectations Continue Reading
Expected oil discovery announcement in Mexico taken cautiously amid hurdles
Mexico is due to announce later this week a sizable oil and gas field in the Tabasco region, but observers doubt the find will be a game-changer or if it Continue Reading
The Worst Dust Storm in a Decade Shrouds Beijing and Northern China
The central business district in Beijing on Monday, when the capital was engulfed in a sandstorm.Gilles Sabrié for The New York Times The Communist Party has made great strides in Continue Reading