Change Afoot for Oil Market as Asian Demand Wanes, Iranian Supply Rises
Signs are emerging of a shift under way in the oil market, with demand weakening in Asia and picking up in the West, just as supplies of Iranian crude oil Continue Reading
China to curb coal demand growth in 14th 5-Year Plan, reduce further in 15th plan
China announced it would curb coal consumption in its economic plans spanning the next 10 years at US President Joe Biden’s global climate summit April 22, in addition to affirming Continue Reading
U.S., other countries deepen climate goals at Earth Day summit
The United States and other countries hiked their targets for slashing greenhouse gas emissions at a global climate summit hosted by President Joe Biden, an event meant to resurrect U.S. Continue Reading
Key takeaways from the Biden Earth Day summit
Dozens of world leaders are joining CEOs, activists and Pope Francis for a two-day virtual summit that started Thursday on reducing climate change hosted by U.S. President Joe Biden. THE Continue Reading
U.S. to double public climate finance to developing countries by 2024
The United States on Thursday said it will boost public climate finance to help poor countries reduce greenhouse gas emissions and adapt to a changing climate, doubling funding by 2024 Continue Reading
UBS tightens lending criteria to coal, Arctic drilling, oil sands
Swiss lender UBS (UBSG.S) said it has tightened its financing criteria for those involved in coal-fired power generation and mining, Arctic oil and tar sands, and would lay out a Continue Reading
Kerry says U.S. will likely exceed pledge to cut emissions by 50-52% by 2030
The United States will likely exceed its pledge to reduce emissions 50% to 52% by 2030 compared with 2005 levels, U.S. climate envoy John Kerry told reporters on Thursday. U.S. Continue Reading
U.S. Climate Goal Falls Short of European Peers and Paris Target
President Joe Biden’s new commitment to cut U.S. emissions in half over the coming decade from 2005 levels, with an aim to zero out planet-warming gases in the next 30 Continue Reading
Biden Wants $15 Billion for EV Charging Stations: Climate Update
Biden Pledges to Cut Greenhouse Gas Emissions in Half by 2030 President Joe Biden’s climate summit has drawn 40 heads of state including China’s Xi Jinping, Vladimir Putin of Russia Continue Reading
US jobless claims fall to 547,000, another pandemic low
The number of Americans applying for unemployment aid fell last week to 547,000, the lowest point since the pandemic struck and an encouraging sign that layoffs are slowing on the Continue Reading
Biden Wants to Slash Emissions. Success Would Mean a Very Different America. – The New York Times
President Biden’s new pledge to slash America’s greenhouse gas emissions over the coming decade is long on ambition and short on specifics, but experts say that success would require rapid and sweeping Continue Reading
Why Minnesota faces $800 million in extra gas bills from Texas freeze in February – The Washington Post
When that big freeze hit Texas in February, the Lone Star State couldn’t help but share its pain. With its ill-equipped natural gas systems clocked by the cold, Texas’s exports across Continue Reading
Coronavirus live updates: Reinfection is possible but rare, according to Epic Systems study
An influential U.S. federal advisory panel is set to meet Friday to potentially decide the fate of the Johnson & Johnson coronavirus vaccine rollout, as more reports emerged of rare but Continue Reading
Natural Gas Prices Jump On Smaller-Than-Expected U.S. Inventory Build
The U.S. benchmark natural gas price reversed losses from earlier on Thursday and turned higher after the Energy Information Administration reported a smaller-than-forecast injection into storage. As of 11:30 a.m. Continue Reading
US oil, gas rig count drops for first time this year, losing 11 rigs
The US oil and gas rig count took a step back, falling 11 to 530 on the week, rig data provider Enverus said April 22 – the first rig count Continue Reading
US Senate Republicans propose infrastructure plan without clean energy section
US Senate Republicans on April 22 proposed a competing infrastructure plan to spend $568 billion over five years on traditional projects like roads, bridges and ports, skipping the clean energy Continue Reading
Universal Hydrogen announces $20.5M in Series A funding to build and test full-scale hardware for hydrogen commercial aircraft
Universal Hydrogen announced $20.5-million Series A financing round led by prominent Silicon Valley venture fund, Playground Global, with the investor syndicate comprising Fortescue Future Industries, Coatue, Global Founders Capital, Plug Continue Reading
Chevron Eyes Hydrogen Alliance with Automaker
The companies will explore an alliance to develop commercially viable, large-scale hydrogen businesses. The Chevron Products Co. division of Chevron U.S.A. Inc. (NYSE: CVX) and Toyota Motor North America, Inc. Continue Reading
Biden’s climate summit zeroes in on technology to help fight global warming
U.S. President Joe Biden’s climate summit will turn to the issue of technology on Friday, featuring remarks from entrepreneurs Bill Gates and Michael Bloomberg, after Thursday’s Earth Day kickoff sought Continue Reading
Biden Wants to Slash Emissions. Success Would Mean a Very Different America.
President Biden’s new pledge to slash America’s greenhouse gas emissions over the coming decade is long on ambition and short on specifics, but experts say that success would require rapid Continue Reading
thyssenkrupp to supply 20MW electrolysis plant to CF Industries for green hydrogen for green ammonia production
thyssenkrupp has signed a contract with Illinois-based CF Industries to supply a 20 megawatt alkaline water electrolysis plant to produce green hydrogen at their Donaldsonville, Louisiana, manufacturing complex. The work Continue Reading
Kinder Morgan Sees $1B Windfall from Texas Storm
Kinder Morgan Inc. surprised investors with a $1 billion dollar windfall from the historic winter storm that crippled Texas and boosted natural gas and power prices. The deadly mid-February storm Continue Reading
Russia orders troops to pull back from Ukraine border
Russia’s defense minister has ordered tens of thousands of troops recently deployed close to the border with Ukraine to return to their bases in a move likely to ease immediate Continue Reading
Putin aims to lure foreign investment with special benefits for clean energy projects
Russia is considering providing special preferences to foreign companies willing to participate in joint projects on climate change and clean technologies, President Vladimir Putin said April 22. Receive daily email Continue Reading
The Future For Oil Producer Romania Looks Bleak
Europe’s upstream segment has two main challenges – environment-related long-term objectives that gradually narrow down oil companies’ maneuvering ability in terms of where/what they can drill and deficit-ridden governments trying Continue Reading
Europe’s Electric, Plug-in Hybrid Car Share Surge Endures as Market Recovers – Bloomberg
The shift to electric cars in Europe is proving to have staying power. Fully electric and plug-in hybrid vehicles accounted for about 15% of passenger-car sales in the first quarter, the European Continue Reading
Russia: Ukraine Border Troop Pullback Has Begun
Russia said it began pulling thousands of troops back from areas near the Ukrainian border Friday, in a move that could ease tensions that have spiked in recent weeks. The Defense Continue Reading
Russian brinkmanship leaves clear message for Ukraine and allies
As Russia’s soldiers begin to pull back from the Ukrainian border, they leave not just tank tracks and footprints in the mud — but a message to Ukraine and its 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
Oil Futures Continue Slide
Oil fell for a second day with an increase in USA crude inventories compounding concerns. (Bloomberg) — Oil fell for a second day with an increase in U.S. crude inventories Continue Reading
Rystad Energy Sees Oil Demand Peaking In 2026
The accelerating adoption of electric vehicles (EVs) and electrification in other oil-consuming sectors is set to bring peak oil demand as early as 2026 at 101.6 million barrels per day Continue Reading
Energy Giants Ditch Oil and Coal Projects. Smaller Rivals Want Them.
For all the talk of a transition away from fossil fuels, players in the energy sector are still willing to bet there is more money to be made in oil Continue Reading
Why Is Most Oil Found In Deserts And The Arctic?
The short-term energy outlook has improved considerably over the past few months, thanks mainly to the ongoing Covid-19 vaccine rollout. A cross-section of analysts now expects oil demand to bounce Continue Reading
Fuel for Thought: Energy security omens returning to haunt oil market
Energy security concerns are bubbling beneath the surface as the global oil market seems to be entering into the early stages of recovery from the pandemic. While OPEC+ can provide Continue Reading
Biden’s Climate Credibility May Hinge on Whether He Makes Good on U.S. Financial Commitments to Developing Nations
President Joe Biden speaks in the Oval Office at the White House April 19, 2021 in Washington, D.C. Credit: Doug Mills-Pool/Getty Images For poor nations that contributed little to greenhouse Continue Reading
Climate Summit ‘Last Chance’ for Brazil to Show Leadership on Global Warming
President Joe Biden’s climate summit of 40 world leaders this week will be Brazilian President Jair Bolsonaro’s “ last chance ” to restore Washington’s confidence in Brazil’s commitment to taking Continue Reading
At Biden’s Earth Day climate summit, some rare common ground with Putin
The stress points keep piling up between President Biden and Vladimir Putin. Biden agreed that the Russian president is a “killer,” the United States leveled more sanctions, diplomats have been expelled on both Continue Reading
Putin, Xi, Pope Join 40 Leaders at Biden’s Climate Summit
President Joe Biden is bringing together dozens of foreign leaders along with corporate executives, union heads and Pope Francis in a two-day virtual summit meant to invigorate the global fight Continue Reading
U.S. Rejects Australia’s Climate Strategy Ahead of Global Summit
The U.S. has called out Australia’s lack of climate ambition ahead of President Joe Biden’s summit of global leaders. “Our colleagues in Australia recognize that there’s going to have to be Continue Reading
US to propose emissions cut of up to 50% by end of decade
US President Joe Biden is set to announce the country’s steepest ever emissions cuts, as he hosts 40 world leaders on Thursday for a summit on climate change that will Continue Reading
Iraq Aims to Clinch Exxon Oil Sale by June Even as Chevron Balks
Iraq aims to finalize the sale of Exxon’s stake in the West Qurna-1 oil field by the end of June even after rival U.S. supermajor Chevron Corp. rejected overtures to buy the Continue Reading
OPEC+ Unlikely To Drastically Change Oil Pact Next Week
The OPEC+ group is unlikely to make any material changes next week to the plans to ease the production cuts over the next three months, Russia’s Deputy Prime Minister Alexander Continue Reading
Iran needs three-plus months to return oil to 2015 JCPOA-level market level: Ghasemi
Iran needs at least three months to flow back its crude in the global oil market as much as it was under the 2015 nuclear deal, former oil minister Rostam Continue Reading
Israel intensifying air war in Syria against Iranian encroachment
Israel has dramatically expanded air strikes on suspected Iranian missile and weapons production centres in Syria to repel what it sees as a stealthy military encroachment by its regional arch-enemy, Continue Reading
Another Libyan Oil Firm Cuts Output as Funding Row Worsens
One of Libya’s state oil producers said it would have to cut as much as 100,000 barrels a day of output this week, a further sign that a budgetary crisis Continue Reading
U.S. provides Iran with examples of sanctions it will and will not lift
The United States has provided Iran with examples of three categories of existing sanctions — those it would need to lift to return to compliance with the Iran nuclear deal, Continue Reading
Could Iraq Really Become OPEC’s Largest Oil Producer?
Iraq’s Oil Minister, Ihsan Abdul-Jabbar, announced last week that the country plans to increase its oil production capacity to 8 million barrels per day (bpd) by 2029, compared to current Continue Reading
Lower Gulf fiscal oil breakeven prices seen supporting easing of OPEC+ cuts
Lower fiscal oil breakeven prices needed to balance Gulf budgets are expected to help support the easing of OPEC+ cuts as regional members of the alliance reap the benefits of Continue Reading
Chad President Idriss Déby Death Threatens Headache for Glencore
The sudden death of Chadian President Idriss Déby in a desert battlefield is threatening more headaches for its biggest private creditor: commodities trader Glencore Plc. Trading firms like Glencore have over the Continue Reading
Angola May Privatize State-Owned Oil Firm To Boost Production
OPEC member Angola was Africa’s top oil producer six years ago when oil prices crashed in 2015-2016, slashing oil-producing countries’ revenues and forcing international oil companies to reconsider their exorbitant Continue Reading