Oil Futures Down for the Week
Oil fell this week with spreading coronavirus cases in countries such as India tempering optimism around positive signs out of the U.S. and Europe. Futures in New York rose the Continue Reading
Bullish Oil News Offset By New Lockdowns In India
Oil demand is finally bouncing back but a new COVID spike in India could threaten the rebound. For more great energy content, make sure you subscribe to the Oilprice youtube Continue Reading
Covid-19 Is Still Raging in Much of the World as Global Cases Hit Record Highs
While hopes are rising that a rapid rollout of Covid-19 vaccines is helping to tame the pandemic in the U.S., in much of the world the virus is still surging. Covid-19 Continue Reading
Nigeria’s Buhari Restores Oil Permits Revoked from China’s Addax
Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of China’s Sinopec. Buhari “approved the restoration” of the licenses to Addax Petroleum Corp. as Continue Reading
Indian hospitals running out of oxygen as Covid cases hit daily record
Hospitals in India are running dangerously low on oxygen, causing panic among medical workers and raising fears that the country’s death toll from Covid-19 will rise sharply as a surge Continue Reading
India’s daily coronavirus cases climb to new world record as hospitals buckle
India’s coronavirus infections rose by 346,786 overnight, the health ministry said on Saturday, setting a new world record for the third consecutive day, as overwhelmed hospitals in the densely-populated country Continue Reading
The Latest: Pakistan reports highest daily death toll
Pakistan on Saturday reported its highest COVID-19 death toll in a single day. Authorities reported 157 deaths, bringing the overall fatalities to 16,999. A total of 5,908 additional cases pushed Continue Reading
Ravaged by Covid, Brazil Faces a Hunger Epidemic
Rail-thin teenagers hold placards at traffic stops with the word for hunger — fome — in large print. Children, many of whom have been out of school for over a Continue Reading
Biden climate summit shows rivalry with U.S. complicates China’s green push
In September, Chinese leader Xi Jinping won plaudits when he pledged to the United Nations that China would reach carbon neutrality before 2060. Earlier this month, Chinese and U.S. climate envoys Continue Reading
China administered total of 216.08 mln doses of COVID-19 vaccines as of April 23 | Reuters
China administered about 4.86 million vaccinations against COVID-19 on April 23, bringing the total number administered to 216.08 million, according to data released by the National Health Commission on Saturday. Continue Reading
Climate Summit’s Final Day Focuses on Technology, Innovation
Officials from the U.S. and other nations spent the final day of a global climate summit focused on innovation, as they debate how to deploy technology and economic incentives to Continue Reading
U.S., Global Economy See Pickup as Services Revive and Factories Ramp Up
The U.S. and global economies are showing signs of stronger growth as factories continued to boom and service businesses began to see the benefits of vaccination programs. After a big Continue Reading
How Electric, Self-Driving Cars and Ride-Hailing Will Transform the Car Industry
When GM’s very first car, the Chevrolet Classic 6, appeared on Detroit’s streets in 1912, it ran on gasoline. More than a century later, in 2034, the very last GM Continue Reading
New US climate strategy opens up old faultlines with Europe
“The Americans have a strategy based on the development of new technologies,” France’s environment minister Barbara Pompili told the FT this week. “It’s great to develop hydrogen, as we are Continue Reading
Live Updates: Biden and World Leaders Focus on Innovation for ‘Clean Energy Future’
Bill Gates during the White House climate summit meeting on Friday.Credit…Associated Press Bill Gates on Friday called for huge new public and private investment in innovation to meet President Biden’s Continue Reading
A Computer Chip Shortage Has Hobbled the Auto Industry
Around the world, auto assembly lines are going quiet, workers are idle and dealership parking lots are looking bare. A shortage of semiconductors, the tiny but critical chips used to Continue Reading
‘Excess Deaths’ in 2020 Surpassed Those of 1918 Flu Pandemic
The U.S. death rate in 2020 was the highest above normal ever recorded in the country — even surpassing the calamity of the 1918 flu pandemic. Death rate above and Continue Reading
Biden’s transportation plan vs. the Republican infrastructure proposal
A group of Senate Republicans this week outlined a counterproposal to President Biden’s $2.3 trillion American Jobs Plan, saying their $568 billion pitch focuses on what they deem “core infrastructure” — Continue Reading
Weekly US coal train loadings average 74.4 trains/day, reaching six-week high: STB
Weekly US coal train loadings averaged 74.4 trains/day in the week ended April 16, up 2.4 trains/day from the previous week, Surface Transportation Board data showed April 23. Receive daily Continue Reading
Schlumberger sees drilling, construction activity ramp worldwide in 2021
Highlights North America sees activity growth going forward International activity likely strengthens in H2 Offshore presents unique opportunities for industry Houston — Drilling, well construction and reservoir activity around the Continue Reading
Power loss said to cause most Texas gas drilling, pipeline outages in winter storm
Highlights Some have blamed equipment freeze-offs Fallout has spurred market reforms Power outages forced most of the US’ upstream and midstream natural gas industry’s curtailments and shutdowns during the February Continue Reading
White House touts EVs, but not backing gasoline-powered phase-out date
The Biden administration wants to spend $174 billion to boost electric vehicles and charging stations but its 2030 climate emissions reduction pledge released on Thursday does not include a firm Continue Reading
Secrecy in the Battery Industry Is Becoming a Headache for Everyone
Most automakers have now committed to electrifying their fleets. That’s brought growing attention to batteries, which still make up about a third of the cost of an electric car, and Continue Reading
California governor seeks ban on new fracking by 2024
Gov. Gavin Newsom on Friday said California will stop issuing fracking permits by 2024 and halt all oil drilling by 2045, using his authority to take on the state’s powerful Continue Reading
How a Wave of Electric Trucks Could Create Millions of ‘Accidental Environmentalists’ – WSJ
Bob Dykes speaks in the gravelly drawl you’d expect of a man who grew up in Wyoming and owns an oil-and-gas company. He’s 69 years old, calls himself a political Continue Reading
U.S. Oil Producers Issue The Most Debt And Equity Since August
Higher oil prices and low interest rates have prompted listed independent U.S. oil producers to raise in March the most financing via debt and equity issues since August last year, Continue Reading
U.S. Oil Rig Count Declines For The First Time In Six Weeks
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States decreased by 1 this week, bringing the total rig count to 438. In Continue Reading
New Court Verdict Imperils Dakota Access Pipeline Again
The latest step in the Dakota Access Pipeline’s years-long saga saw on Friday a U.S. Court of Appeals for D.C. deny DAPL’s petition for a rehearing that would have ended Continue Reading
US oil, gas producers advantaged in blue hydrogen adoption: S&P Global Ratings
Low-cost US gas, potentially cheap feedstock for hydrogen Vast reserves, existing infrastructure offer cost advantages US oil and natural gas producers could be well-positioned to leverage blue hydrogen production as Continue Reading
Europe Debuts Hydrogen Passenger Trains in Zero-Carbon Push
The first hydrogen-powered passenger trains built by Alstom SA are set to debut in Germany and establish a toehold for the technology in Europe. After a lengthy trial period on a 123-kilometer (76-mile) track in Lower Saxony, Continue Reading
Dispute over Russian pipeline tests Biden’s Europe outreach
Pressure is growing on President Joe Biden to take action to prevent the completion of a Russian gas pipeline to Europe that many fear will give the Kremlin significant leverage Continue Reading
Crude rises on cautious optimism over Europe reopening
Crude oil futures were higher in the mid-morning trade in Asia April 23, as optimism over the reopening of Europe lent support to the market, even as concerns remained on Continue Reading
Oil Pares Weekly Loss as Investors Face Mixed Signals on Demand
Oil pared an earlier gain as investors assessed a patchwork recovery in energy demand, with signs of a rebound from the pandemic in some countries mixed with setbacks in parts Continue Reading
Oil Extends Losing Run on Demand Concerns, U.S. Stockpile Gain
Oil fell for a third day after data showed a rise in U.S. stockpiles and investors fretted over an uneven recovery in global demand, with India reporting a record one-day Continue Reading
How Accurate Are Peak Oil Demand Projections?
Jet fuel and petrochemicals are expected to fuel crude demand this decade, while oil demand in the transport sector is set to peak by 2026, one year earlier than originally Continue Reading
Jet Fuel Demand Is A Headache For Oil Markets
Global jet fuel demand is slowly recovering from last year’s collapse. The number of commercial flights has more than doubled since April 2020 and even tripled on some days in Continue Reading
The Era Of Lithium Is Only Just Beginning
It’s been a big week for lithium, with a multi-billion-dollar mega-merger, a new major production deal in Chile, and funding for Europe’s first large-scale lithium refinery in Chile. Things are Continue Reading
Small Companies Rush To Buy Up Big Oil’s Assets
Big Oil is shedding assets like a dog sheds its winter coat. In a rush to prove their emerging environmentally conscious credentials, the supermajors are pledging billions in low-carbon energy Continue Reading
Did The World Bank Just Doom LNG?
The United States has a long-running love affair with natural gas, with fossil fuels acting as the lynchpin in the country’s power generation mix . At the same time, nearly Continue Reading
Ship Operators Move Toward LNG to Pare Emissions
The maritime industry, under growing pressure to reduce shipping’s carbon emissions, is coming to a growing consensus that liquefied natural gas will provide an intermediate solution toward finding cleaner fuel Continue Reading
Up to 20 Percent of Groundwater Wells Are in Danger of Running Dry
As many as one in five wells worldwide is at risk of running dry if groundwater levels drop by even a few meters, according to a new study appearing Thursday in the Continue Reading
OPEC Fund Helps Finance Egypt’s Largest Private Solar Plant
OPEC’s Fund for International Development is among a group of development banks providing $114 million of loans to build the largest privately-owned solar plant in Egypt. ACWA Power’s 200-megawatt Kom Ombo Continue Reading
Iran Exports 500,000 Bpd Despite Sanctions
Iran’s crude oil exports since the start of the month have averaged around 500,000 bpd, according to a Reuters report that cites estimates from tanker tracking companies. This is lower Continue Reading
Yemen’s Houthis claim attack on Aramco facility; no Saudi confirmation
Yemen’s Houthi movement launched an attack with a drone on an Aramco facility in the southwestern Saudi city of Jizan as well as targeting the King Khalid air base with Continue Reading
Total and Iraq face difficult sticking points in details of massive energy deal
After signing a Heads of Agreement with Total, Iraq is entering a difficult phase of negotiation over the contracts that would govern the multi-billion-dollar, multi-faceted energy investment. In a statement Continue Reading
Africa’s Largest Oil Producer Loses $29B Per Year On Power Outages
Businesses in Nigeria are losing each year around US$29 billion because of the unreliable power supply, the World Bank said in an estimate about the OPEC country, which is the Continue Reading
East Africa: ‘My House Is Crumbling’ – Living in Limbo Along the East Africa Pipeline
People along the route of the proposed 1,443 km oil pipeline talk of confusion, uncertainty and lives on hold. Following the recent signing of accords, the construction of a hugely Continue Reading
India records world’s biggest single-day rise in coronavirus cases
India recordedthe world’s highest daily tally of 314,835 COVID-19 infections on Thursday as a second wave of the pandemic raised new fears about the ability of crumbling health services to Continue Reading
Oil Demand to Buckle in India as Covid Surge Wreaks Havoc
A deserted Marine Drive during a weekend lockdown in Mumbai, on April 10. India’s deadly second Covid-19 wave has brought an abrupt halt to its nascent recovery from the pandemic, Continue Reading
Mexico Congress Passes Controversial Pro-Pemex Bill
The lower house of the Mexican parliament has passed a controversial bill that will give state-owned oil major Pemex more sway over the Mexican fuel market. Bloomberg reports that the Continue Reading