Oil Demand Set To Surge As Travel Picks Up
As restrictions ease across Europe, we are slowly seeing a resurgence in fuel demand for travel, not only in gasoline and diesel but also in jet fuel as travel and Continue Reading
Food Prices Soar, Compounding Woes of World’s Poor
A surge in food prices is deepening the pain caused by Covid-19 across the developing world, forcing millions into hunger and contributing to social problems that could lead to more political Continue Reading
As record heat scorches western Russia and central Canada, climate alarm bells ring
t’s only May, and temperatures near the Arctic Circle in northwestern Russia are approaching 90 degrees. In Moscow, temperatures have shattered records on consecutive days. It has also been unusually Continue Reading
Saudi Arabia Beats Russia Again To Top Chinese Oil Supplier Spot
Saudi Arabia kept its status as China’s top oil supplier in April, beating Russia for the eighth month in a row as the world’s largest oil buyer imported the lowest Continue Reading
Iran: “Main Agreement” On Lifting Of U.S. Sanctions Reached
Global powers taking part in the indirect U.S.-Iranian talks on a return to the nuclear agreement have accepted that the U.S. sanctions on Iran, including on its oil exports, will Continue Reading
Iran readies for oil sanctions relief, as Rouhani says JCPOA deal close
US, Iranian and European negotiators will convene next week for a fifth – and what they hope will be final – round of talks over reinstating the nuclear deal. Iran’s Continue Reading
Aquarius Engines unveils free-piston linear engine operating on 100% hydrogen
Israel-based Aquarius Engines unveiled a hydrogen-fueled version of its free-piston linear engine new hydrogen engine. The 10kg machine, based on the same technology as the original patented single-piston linear engine, Continue Reading
Israel-Palestinian ceasefire comes into effect
Palestinians took to the streets to celebrate the ceasefire A ceasefire between Israel and the Palestinian militant group Hamas in the Gaza Strip has come into effect. The ceasefire began Continue Reading
UAE: Oil Demand Has Already Increased To 95 Million Bpd
Oil demand has already increased to 95 million barrels per day (bpd), and the market is rebalancing, according to the chief executive of the Abu Dhabi National Oil Company (ADNOC), Continue Reading
East Africa: Tanzania-Uganda Concludes Multi-Billion Oil Deal
Tanzania and Uganda have signed the fifth crucial Host Government Agreement (HGA) that finally allows the construction of a 4.16billion US dollars heated pipeline to carry crude oil from western Continue Reading
Nigeria: Navy Blames NNPC Over Theft of 200,000 Barrels of Crude Oil
The Nigerian Navy yesterday exonerated itself from the loss of 200,000 barrels of crude oil to pipeline vandalisation and illegal refineries, even as it blamed the Nigerian National Petroleum Corporation Continue Reading
There Is Light At The End Of The Tunnel For Argentina’s Oil Industry
Protests and civil dissent are once again sweeping across Latin America, a region infamous for its political instability and economic inequality. While Colombia’s security crisis is threatening the strife-torn country’s Continue Reading
EU parliament declares China treaty ratification ‘frozen’
The European Parliament has signalled fierce opposition to advancing a market-access treaty with China by declaring it “frozen”, in a sign of mounting tensions between the bloc and Beijing. MEPs voted Continue Reading
Asia’s Physical Oil Market Strengthens In Sign Of Rising Demand
China and Japan have recently intensified purchases of crude oil on the spot market, driving spot premiums for some grades to their highest in several months and signaling that Asia’s Continue Reading
Large Methane Cloud Detected Over Prolific Canadian Gas Basin
A cloud of methane was detected by satellite over a natural gas field in Canada, identifying a hidden source of pollution from one of North America’s most prolific production basins. The Continue Reading
Corporations grapple with signs of overheating US economy
The speed of the US rebound from the Covid-19 crisis has left executives, investors and economists scrambling to interpret whether labour shortages and rising prices point to a short-term economic Continue Reading
Scientists Predict an ‘Above Normal’ Atlantic Hurricane Season
Federal scientists on Thursday forecast that 2021 could see in the range of 13 to 20 named storms, six to 10 hurricanes, and three to five major hurricanes of Category Continue Reading
Facing Hurricane and Wildfire Seasons, FEMA Is Already Worn Out
Workers from the Federal Emergency Management Agency have been scouting shelters for the migrant children surging across the Southern border. They’ve been running coronavirus vaccination sites in Colorado, Massachusetts and Continue Reading
US onshore oil producers to keep 2021 output in check even as prices rise
Rystad Energy Press Releases • A gas boom is coming in the US; a closer look at Haynesville and Appalachia reveals records and a risk >> Read here • US Continue Reading
The Four Biggest Threats To U.S. Energy Independence
The United States’ shale revolution completely redrew the geopolitical map. The gush of cheap and plentiful shale oil and gas out of West Texas and New Mexico over the last Continue Reading
More active hurricane season than normal forecast, but less than 2020’s record
The National Hurricane Center on May 20 forecast a more active Atlantic hurricane season than normal as being most likely in 2021, but not as active as 2020’s record-setting storm Continue Reading
US oil, gas rigs fall 12 to 543 on week, as industry focuses on recovering oil demand
Highlights Permian loses 4 rigs; Eagle Ford down 3 Most basins lost 1-2 rigs on week Oil and gas rigs each decrease 6 Houston — The US oil and gas Continue Reading
Weekly US coal output totals 12.3 million st, up 48.5% on year: EIA
Highlights Weekly output highest since end of January 2020 PRB production drives increase on week, on year Weekly US coal production was estimated at 12.3 million st, up 9% from Continue Reading
U.S. Shale Is Finally Giving Shareholders A Payday
Unlike in the previous downturn in 2015-2016, U.S. shale producers are exiting the 2020 oil price and demand collapse with their promises intact to rein in production growth and return Continue Reading
Ford, SK Innovation to form JV to manufacture battery cells and modules; 60 GWh/year from BlueOvalSK
Ford and SK Innovation signed an MoU to create a joint venture—to be called BlueOvalSK—to produce approximately 60 GWh annually in traction battery cells and array modules, starting mid-decade, with Continue Reading
NextEra Is Blocking a Major New Clean Power Transmission Project
A major new transmission line intended to pipe carbon-free hydropower from Canada into the U.S. Northeast has met a powerful opponent: the world’s largest provider of renewable energy. The 145-mile (233-kilometer), Continue Reading
U.S. EPA to keep biofuel mandates steady in 2021-22 due to coronavirus -sources
The U.S. Environmental Protection Agency’s biofuel blending mandates for this year and next are likely to be in line with those of 2020 as the agency accounts for weaker fuel Continue Reading
U.S. proposes big increase in forest management to tackle wildfires
A private wild land firefighter monitors a backfire along Old Lawley Toll Road during the Glass Fire in Calistoga, California, U.S., October 2, 2020. Picture taken October 2, 2020. REUTERS/Stephen Continue Reading
Daimler Truck says batteries, hydrogen are the future
The world’s largest truck and bus maker is charting an ambitious zero-emission future and says it’s not that far off – despite higher costs and the current lack of support Continue Reading
Oil Demand Is Rebounding Fast In Europe
Traffic on Europe’s highways and in the biggest cities has been rising in recent weeks as economies reopen, suggesting a rebound in road transportation fuel demand. Traffic on highways in Continue Reading
U.S. Waives Nord Stream 2 Sanctions
In a somewhat surprising turn of events, Washington said it would waive sanctions about to be imposed on Germany-registered Nord Stream 2 AG, the operator of the Nord Stream-2 pipeline Continue Reading
BP Starts Offshore Wind Recruitment Push
BP Plc has started a recruitment campaign for the people who will drive its expanding clean energy ambitions. The London-based oil and gas company is looking to fill 100 offshore-wind Continue Reading
Crude oil futures rangebound after overnight slide on US-Iran talks, EIA data, strong dollar
Crude oil futures were rangebound during mid-morning Asian trade May 20, following an overnight slide, on increasing prospects of the restoration of the Joint Comprehensive Plan of Action, the strengthening Continue Reading
Oil Under Pressure Despite Positive Demand Outlook
Brent crude briefly hit $70 per barrel and West Texas Intermediate rose above $66 this week as improving economic outlooks for some of the world’s biggest economies boosted optimism. Although Continue Reading
Brent Oil Edges Higher From 3-Week Low With Iran Flows in Focus
Brent oil edged higher from the lowest settlement in three weeks as investors assessed the prospect of a boost in Iranian supply just as OPEC+ returns more barrels to the Continue Reading
Oil Prices Plunge As Inflation Fears Mount
Oil plunged to the lowest in three weeks alongside a broader market decline. (Bloomberg) — Oil plunged to the lowest in three weeks alongside a broader market decline with traders Continue Reading
Crude extends losses as US crude build underscores supply risks
Crude futures finished a second straight session sharply lower May 19 as fundamental outlooks weakened amid reports of progress on US-Iran nuclear talks, rising US inventories, and concerns regarding Asia Continue Reading
Oil Sinks to Lowest Three Weeks Amid Broader Market Meltdown
Oil plunged to the lowest in three weeks alongside a broader market decline with traders also concerned about growing supply from the U.S. and Iran. Futures in New York tumbled 3.3% Continue Reading
Why the IEA is ‘calling time’ on the fossil fuel industry
Earlier this year a full-page colour ad appeared in the press: “Who is Fatih Birol playing for?” it asked, picturing the head of the International Energy Agency dressed in football Continue Reading
The IEA May Have Given OPEC A Huge Gift
An immediate halt to oil exploration is one of the steps that need to be taken in order for the world to reach Paris Agreement climate change commitments. That’s what Continue Reading
World’s Largest Iceberg Breaks Off in Antarctica as Glaciers Retreat
An iceberg the size of the Spanish island of Majorca has broken off the coast of Antarctica, with measurements taken from satellites and planes confirming it’s now the world’s largest. Iceberg Continue Reading
A mysterious rise in methane levels is sparking global warming fears
Livestock, particularly cows, are a major source of methane IN A University of Colorado lab, near a furnace running at 1100°C and machines adorned with Star Trek posters, lie rows Continue Reading
Iran To Bypass Key Oil Chokepoint By Exporting From Jask Terminal
Iran looks to begin as soon as next month crude oil exports from the Jask terminal on the Sea of Oman, without the need to have tankers travel through the Continue Reading
Saudi Aramco Still Most Profitable Oil Company, Despite Lower Production
Saudi Aramco workers. Photo Credit: Saudi Aramco By Faisal Faeq* Despite OPEC+ output reductions and the extra 1 million barrels per day (bpd) voluntarily cut by Saudi Arabia that lowered Continue Reading
Nigeria: Shell to Offload Onshore Nigerian Oil Assets in Bid Move to Cleaner Energy
Shell’s divestment could deal a fresh blow to the fiscal plan of the Nigerian government, about 90 per cent of whose revenue comes from oil, as it rebalances from the Continue Reading
Venezuela’s Crumbling Oil Industry Is An Environmental Nightmare
The near failure of the Venezuelan state, caused by the breakdown of the country’s oil industry, has triggered the second worst humanitarian crisis of the 21st century. While the collapse Continue Reading
Diesel shortages paralyze Venezuelan farms, prompting sanctions debate
Venezuelan farmer Agustin Zenere should have been planting corn by the second week of May – a crucial task in the economically devastated South American country where 7 million people Continue Reading
Asia snubs IEA’s call to stop new fossil fuel investments
Asian energy officials on Wednesday disputed the International Energy Agency’s (IEA) call for no new oil, natural gas and coal investments for the world to be able to reach net-zero Continue Reading
China to add at least 90 GW wind and solar capacity to the grid in 2021
China has ordered power transmission firms to connect a minimum of 90 gigawatts (GW) of wind and solar capacity to the grid this year, the National Energy Administration said on Continue Reading
China’s Emissions Now Exceed All the Developed World’s Combined
China now accounts for more greenhouse gas emissions than all of the world’s developed nations combined, according to new research from Rhodium Group. Pollution King China’s emissions have surpassed all OECD nations Continue Reading