Oil Prices Edge Upward As Greenback Weakens
Oil edged higher with help from a weakening dollar while a worsening demand picture in parts of the world continued to hold back prices from another breakout. Futures in New Continue Reading
Is This The End Of The Covid Oil Glut?
Recovering economies and increased fuel demand have helped the enormous oil glut from this time last year to shrink to levels that could be further reduced with global oil demand Continue Reading
IEA issues ‘dire warning’ on CO2 emissions as it predicts 5% rise
Global CO2 emissions from energy are seen rising nearly 5% this year, suggesting the economic rebound from COVID-19 could be “anything but sustainable” for the climate, the International Energy Agency Continue Reading
Blinken Says U.S. Falling Behind China in Shaping Climate Future
Secretary of State Antony Blinken says the U.S. is falling behind China in the race to seize opportunities created by climate change. Secretary of State Antony Blinken said the U.S. Continue Reading
The Pandemic Worsened Climate Misery for Millions Last Year
The Covid-19 pandemic did little to slow the rise of greenhouse-gas pollution in 2020—and much to complicate responses to humanitarian disasters, according to the World Meteorological Organization’s State of the Global Continue Reading
Progress in Iran nuclear talks but resolution still far away
High-level talks in Vienna aimed at bringing the United States back into the 2015 nuclear deal with Iran are moving ahead with experts working on drafting proposals this week, but Continue Reading
Iran Says It Welcomes Talks With Saudi Arabia
Iran welcomed on Monday the idea of talks with its regional rival Saudi Arabia, amid reports that the two Gulf powers were directly talking about bilateral relations and hopes that Continue Reading
Libya’s Agoco halts crude production in budget standoff with government
Production in several of Libya’s major eastern oil fields has been shut down, heightening the central government’s budget crisis. Receive daily email alerts, subscriber notes & personalize your experience. Register Continue Reading
Saudi crude stock draws continue, exports fall due to production cut
Saudi Arabia drew again on its crude stockpiles in February, while exports fell, reflecting the impact of its voluntary 1 million b/d production cut in addition to its OPEC+ production Continue Reading
Deeply Discounted Crude Becomes Headache For OPEC
If you ask an oil major what the last five years have been like, they would probably have something to say about price crashes and demand destruction. If you ask Continue Reading
Why Iran Will Be Forced To Accept A Much Stricter Nuclear Deal
Even before the Joint Comprehensive Plan of Action (JCPOA) ‘nuclear deal’ was agreed in 2015 between Iran and the P5+1 (U.S., U.K., France, China, Russia plus Germany), the issue of Continue Reading
Iraq awards Sinopec contract to develop gas field in a bid to lower Iranian imports
Sinopec to develop eastern Mansuriyah gas field Iraq wants to boost gas output amid Iranian imports Most gas production is pumped with oil Iraq awarded Sinopec a contract to develop Continue Reading
Libya’s NOC declares force majeure on Marsa el-Hariga exports amid budget crisis
Libya’s National Oil Corporation has declared force majeure on crude exports out of Marsa el-Hariga terminal as production from its key eastern fields is set to fall due to a Continue Reading
Nigeria: Scores Killed, Over 50 Houses Razed in Petrol Tanker Explosion in Benue
Scores were feared killed and no fewer than 50 houses razed, after a tanker conveying petroleum products exploded at Oshigbudu in Agatu Local Government Area of Benue State. The tanker Continue Reading
UK adds India to travel ‘red list’ after Covid cases surge in country
The UK government on Monday said India will be added to its “red list” of countries, as the country battles a new variant and a surge in coronavirus cases that Continue Reading
India’s New Delhi Locks Down as Covid-19 Stretches Healthcare System to Its Limits
India imposed a lockdown on its capital city and said it would expand its vaccination program to all adults, as the country struggled to keep the world’s fastest-growing surge of Continue Reading
India Is Pushing For More Coal Capacity
One of the world’s largest carbon dioxide emitters, India, could add more coal-fired electricity generation capacity despite the global push for clean power sources. India could still need new coal Continue Reading
India’s covid surge is bringing its healthcare system to the brink
More than a year after the pandemic began, infections worldwide have surpassed their previous peak. The average number of coronavirus cases reported each day is now higher than it has ever been. Continue Reading
India reports record daily COVID-19 death toll, many cities in lockdown
India reported 1,761 deaths from COVID-19 overnight, its highest daily toll, with large parts of the country now under lockdown, as the country battles a second wave that has left Continue Reading
India’s gasoline demand to stall as COVID-19 cases surge to record highs
India’s strong rebound in domestic gasoline consumption will likely hit a roadblock in the near term, amid fresh lockdowns in several states as the country fights a renewed battle against Continue Reading
First Venezuela, Now Ecuador: US Refiners Need A New Source Of Heavy Crude
U.S. refiners were forced to source their heavy crude from somewhere else after the United States sanctioned Venezuelan crude oil. Now, U.S. refiners may again be forced to resource crude Continue Reading
Venezuela’s PDVSA begins shutdown of Petropiar oil field for maintenance
Venezuela’s state-owned PDVSA has started a maintenance shutdown of its Petropiar oil field located in the Ayacucho block in the Orinoco Belt, according to a technical report reviewed by S&P Continue Reading
Huge potential, big hurdles for Argentina’s Vaca Muerta
Vaca Muerta, the biggest shale play in Argentina, is poised for growth in oil and natural gas production and exports as proposed legislation is expected to improve investment conditions, but Continue Reading
China’s Xi calls for fairer world order as rivalry with U.S. deepens
Chinese President Xi Jinping on Tuesday called for a rejection of hegemonic power structures in global governance, amid growing tensions between Washington and Beijing over a widening range of issues Continue Reading
Sinovac supplied 260 mln COVID-19 vaccine doses globally
Sinovac Biotech (SVA.O) has supplied 260 million doses of its COVID-19 vaccine globally, with over 60% supplied to countries outside China, the company’s chief executive Yin Weidong said on Tuesday. Continue Reading
China’s crude oil imports from Saudi up 8.8% y/y in March, UAE shipments jump
China’s crude oil imports from top supplier Saudi Arabia rose 8.8% in March from a year earlier, driven by strong demand and as shipments delayed due to a port congestion Continue Reading
Philippines Ready To Claim Oil Resources With Military
The disputed South China Sea may soon see an escalation in tensions over oil drilling rights between China and the Phillippines, according to Phillippine President Rodrigo Duterte who spoke to Continue Reading
Toyota to review climate stance as investors turn up the heat
Japan’s Toyota Motor Corp (7203.T) signaled a shift in its climate change stance on Monday, saying it would review its lobbying and be more transparent on what steps it is Continue Reading
China to bring solar and wind power generation to 11% of total electricity use in 2021
China has flagged it will seek to raise its power generation from solar and wind plants to around 11% of the country’s total power consumption in 2021, from 9.7% in Continue Reading
What It Takes to Turn Cities Into Bulwarks Against Climate Change
Grownups look straight past the nuts and bolts of the city. Power lines and drainage grates go unseen. But my 8-year-old notices, even those up above the row houses. “Look Continue Reading
Biden Wants the U.S. to Lead on Climate Action, But the World Needs Proofberg
President Joe Biden aims to prove to the world this week that the U.S. has rejoined the international fight against climate change by vowing cuts in greenhouse gas emissions that Continue Reading
Biden feels heat on emissions goal as climate summit nears
As President Joe Biden convenes a virtual climate summit on Thursday with 40 world leaders, he faces a vexing task: how to put forward a nonbinding but symbolic goal to Continue Reading
Gulf Of Mexico Oil & Gas Pipelines Need Better Safety Regulations
The U.S. Department of the Interior lacks a robust oversight process to monitor and ensure the safety and integrity of some 8,600 miles of active offshore oil and gas pipelines Continue Reading
Winners of $20M contest make concrete to trap carbon dioxide
Organizers of a $20 million contest to develop products from greenhouse gas that flows from power plants announced two winners Monday ahead of launching a similar but much bigger competition Continue Reading
BP unveils $1.3B investment in US onshore, targets flaring, emissions reduction
Permian flared volume falls to 2% from 16% in Q3 2019 Company to eliminate routine flaring onshore by 2025 Flaring, emissions cuts buoy US output growth in 2021 BP is Continue Reading
US Interior revokes Trump order on Alaska petroleum reserve
Alaska officials say effects are unclear Trump move had been criticized by activists Northern part of reserve at issue Anchorage — Interior Secretary Deb Haaland has issued an order rescinding Continue Reading
U.S. will boost ‘Do Not Travel’ advisories to 80% of world
The U.S. State Department said on Monday it will boost its “Do Not Travel” guidance to about 80% of countries worldwide, citing “unprecedented risk to travelers” from the COVID-19 pandemic Continue Reading
Exxon Floats $100 Billion Government-Backed Carbon Capture Hub
Exxon Mobil Corp. proposed a giant, $100 billion hub to capture carbon dioxide emissions along the U.S. Gulf Coast in Texas but warned that government funding would be required to Continue Reading
Miners’ union backs shift from coal in exchange for jobs
The nation’s largest coal miners’ union said Monday it would accept President Joe Biden’s plan to move away from coal and other fossil fuels in exchange for a “true energy Continue Reading
Poland to buy coal assets from utilities, create state energy company in 2022
Poland announced a plan late April 16 to separate coal assets from state-controlled utilities and transfer them to a state-owned National Energy Security Agency (NABE), freeing up power companies to Continue Reading
Norway’s March oil, gas output lag official forecasts
Norway’s oil and gas production slightly lagged official expectations in March, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Tuesday. Crude oil output fell 1.1% from February to Continue Reading
U.K. Plans Deeper Carbon Cuts to Spur Climate Change Fight
U.K. Prime Minster Boris Johnson is preparing to announce deeper carbon cuts this week as he aims to spur global momentum in the fight against climate change, three people familiar Continue Reading
EU Coal Laggard Faces Snags in Plan to Spinoff Dirty Assets
Poland ’s plan to carve out coal-fired power plants sparked a rally in the country’s biggest utilities. Now for the hard part — approving it. Deputy Prime Minister Jacek Sasin’s Continue Reading
BMW expects to have solid-state battery in a demonstrator vehicle well before 2025; IPCEI grants
In March, BMW presented the Neue Klasse generation of vehicles, to be launched by the middle of this decade, which will be clearly focused on all-electric drivetrains. For the Neue Continue Reading
Oil Drops After Weekly Surge as Pandemic Sweeps Through India
Oil steadied near $67 a barrel as the benefits of a weaker dollar were offset by the sweep of the coronavirus pandemic across key importer India. Brent futures traded little changed, Continue Reading
Crude oil futures slip as pandemic concerns mar bullish economic, demand outlooks
Crude oil futures slipped during mid-morning Asian trade on April 19, as concerns on the pandemic front pulled the market back after it ended higher last week on bullish data Continue Reading
OPEC Update, April 2021
The OPEC Monthly Oil Market Report for April 2021 was published this past week. The last month reported in each of the charts that follow is March 2021 and output reported for Continue Reading
Renewables Dominate The Headlines, But Oil And Gas Remain King
The transition to a global energy system that runs on renewable energy rather than finite and dirty coal, oil, and gas is arguably the number-one topic in the media, sometimes Continue Reading
Historic Oil Glut Amassed During the Pandemic Has Almost Gone
The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers. Barely a fifth of the surplus that Continue Reading
Everything Counts
There’s no more time for half-measures and compromises on climate change Despite the complexities of global warming, and there are many, we can describe the principle behind our necessary response Continue Reading