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Month: June 2021

Category:
  • Prices

Oil Set for Best Half Since 2009 as Demand Recovery Accelerates

Oil is heading for its best half since 2009 as the rebound from the pandemic boosts fuel consumption and tightens the market ahead of a key OPEC+ meeting that’s expected Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Prices

Oil rises a second day as stockpiles fall, supply tightens

Oil prices on Wednesday extended the previous day’s small gains after an industry report showed U.S. crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Advance As OPEC+ Deals with Setback

 Oil closed higher with OPEC+ ministers divided ahead of a key meeting later this week on production policy. Futures in New York managed to eke out a small advance after Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Environment

Emerging Markets Are Racing To Halt The Plastic Pandemic

Covid-19 led to a sharp rise in the production of single-use plastics, a significant proportion of which end up in the world’s oceans. With the pandemic gradually being brought under Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Oil Supply

Goldman says more OPEC+ supply needed to balance oil market

 Goldman Sachs Commodities Research said more oil production is needed from the Organization of the Petroleum Exporting Countries and allies (OPEC+) to balance the market by 2022 as supply risk Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Hydro

Net zero goals need revival of ‘forgotten giant’ hydropower, IEA says

Low-carbon hydropower capacity is vital for a faster integration of wind and solar power, but its growth is set to slow by 23% this decade without a sweeping policy and Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Natural Gas Supply

There Isn’t Enough Natural Gas

Natural gas markets around the globe are rallying as the world’s importers have come to a stark realization: there isn’t enough supply to go around. A long, frigid winter drained Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Arabia Plans Second National Airline in Transport Push

Saudi Arabia plans to start a second national airline in an effort to turn the oil-rich kingdom into a transport hub and help diversify its economy. The strategy also includes Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • OPEC

OPEC bullish on oil market recovery; virus variants pose risk

 Global oil demand will rebound strongly in the second half of 2021 with oil inventories shrinking, OPEC’s chief and experts said on Tuesday while warning that coronavirus variants pose a Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Iran
  • Syria
  • USA

U.S.-Controlled Oilfield In Syria Attacked By Rockets

A key oilfield near a U.S. military base in Syria’s Deir Ezzor region came under rocket attack on Monday, hours after the U.S. military said on Sunday it had carried Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Africa
  • coronavirus

Virus infections surging in Africa’s vulnerable rural areas

 For Pelagia Bvukura, who lives in a rural part of north-central Zimbabwe, COVID-19 had always been a “city disease,” affecting those in the capital, Harare, or other, distant big towns. Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria Prepares To Reveal New Oil Bill 20 Years In The Making

Nigeria’s Senate is expected to see on Tuesday the presentation of the country’s petroleum industry bill, a new regulation on the oil industry that has taken 20 years to draft. Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria: Why NNPC’s Borrowing to Acquire 20% Equity in Dangote Refinery

The Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, yesterday explained why the national oil company was purchasing a stake in Dangote oil refinery, saying it was Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Uganda

Could East Africa Become The Next Major Oil Hotspot?

The last 18 months have seen very few large-scale oil projects moving from a prospect status into an entire region’s next best thing. The Lake Albert project in Uganda is Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • India

India sees fuel demand recovery to pre-pandemic level by end-2021

India’s fuel demand, hit by a deadly second wave of coronavirus, would recover to pre-pandemic levels by the end of this year, oil minister Dharmendra Pradhan said on Tuesday. Local Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Venezuela

Venezuela’s PDVSA restarts drilling campaign suspended since 2019

PDVSA will incorporate 17 drill rigs, 14 contracted at $1.5 million each Plan’s goal is to raise production to an average of 1 million b/d in 2021 Orinoco Belt production Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • China

China’s Economy Flashes Hints of Weakness

Expansion in China’s factory sector slowed in June, as export demand weakened while supply bottlenecks held back production, official data showed Wednesday. Equally worrying, China’s services sector, a persistent laggard Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • coronavirus
  • North Korea

Kim Jong Un Warns of Grave Covid-19 Situation in North Korea

Kim Jong Un said North Korea’s Covid-19 situation has become grave and admonished senior officials for lapses in the fight against the disease.Mr. Kim, speaking at a Politburo meeting, didn’t Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Climate
  • USA

Wild Weather Plagues North America Grain Crops as Demand Surges

Dangerous Northwest Heat Wave Already Triggering Power Outages The world is counting on farmers in North America for big harvests of everything from corn to canola this year. Due to Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Coal
  • USA

Justices deny Wyoming, Montana coal suit against Washington

The U.S. Supreme Court decided Monday that it won’t allow Wyoming and Montana to sue Washington state for denying a key permit to build a coal export dock that would Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Pipelines
  • USA

Supreme Court Rules New Jersey Can’t Block Natural-Gas Pipeline

The Supreme Court on Tuesday removed a hurdle to the construction of a natural-gas pipeline through Pennsylvania and New Jersey, ruling the pipeline developer could invoke the power of the federal government Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Natural Gas Supply

Democrats in Oil Country Worried by Party’s Natural-Gas Agenda

Democratic Party progressives are pushing President Biden to include in his infrastructure agenda stringent measures to address climate change, including policies designed to end the nation’s reliance on natural gas Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

U.S. Oil Inventories Fall For Sixth Straight Week

The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 8.153-million barrels for the week ending June 25. Analysts had predicted a draw of 4.686 Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Electricity
  • USA

Persistent Texas economic growth translates to stronger power demand, prices

The continued growth of the Texas economy in June, as evidenced in new Federal Reserve Bank of Dallas surveys, has shown up with increased power demand and wholesale power prices Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

How Last Century’s Oil Wells Are Messing With Texas Right Now

Ranchers and regulators are contending with uncontrolled leaks from thousands of abandoned oil and gas sites that could render some land “functionally uninhabitable.” Water testing crews looking for contaminants collect Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Coal
  • USA

Weekly US coal ship departures decline to 41-week low: cFlow

Weekly US coal ship departures totaled 27 in the week ended June 26, down seven from the previous week and down one from the year-ago week, data from cFlow, S&P Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Saudi Arabia
  • USA

Sempra, Saudi Aramco unable to finalize supply agreement tied to Port Arthur LNG

Highlights Preliminary deal called for Aramco to take 25% stake FID already expected to be delayed to 2022 Sempra’s efforts to finalize a long-term deal with Saudi Aramco to support Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Climate
  • USA

Heat Wave Eases for Seattle, Tightens Grip Inland

A record-breaking heatwave eased for coastal cities in the Pacific Northwest but tightened its grip inland, threatening people, crops, and wildlife. After several days above 100 degrees, temperatures Tuesday topped out Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Canada
  • Climate

Canada weather: Dozens dead as heatwave shatters records

 Dozens of people have died in Canada amid an unprecedented heatwave that has smashed temperature records. Police in the Vancouver area have responded to more than 130 sudden deaths since Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • LNG

Can The U.S. LNG Boom Compete On A Global Scale?

The global liquefied natural gas market has recovered from the 2020 pandemic shock to energy demand. As LNG consumption and spot prices surge this year, U.S. exports of LNG are Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Natural Gas Supply
  • Pipelines

Pipeline Operators Score Massive Supreme Court Victory

The U.S. Supreme Court backed on Tuesday a pipeline development consortium in its legal battle with the state of New Jersey over eminent domain for a planned natural gas pipeline Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Canada

Canada to ban sale of new fuel-powered cars and light trucks from 2035

 Canada will ban the sale of fuel-burning new cars and light-duty trucks from 2035 in an effort to reach net-zero emissions across the country by 2050, Prime Minister Justin Trudeau’s Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Hydrogen

U.S. Steel, Norway’s Equinor eye clean hydrogen production

 Norway’s Equinor (EQNR.OL) and U.S. Steel Corp (X.N) will examine the potential for developing clean hydrogen production in Ohio, Pennsylvania and West Virginia, the two companies said on Tuesday. The Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Climate

European Council adopts European climate law; binding target of 55% GHG reduction by 2030 compared to 1990

The European Council adopted its position at first reading on the European climate law, ending the adoption procedure and setting into legislation the objective of a climate-neutral EU by 2050. Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • coronavirus
  • Germany

The Delta variant is now surging in Germany as concern grows in Europe

A couple take a picture at an open air cinema on the Museum Island in Berlin, on June 16, 2021. He also told officials that he estimated the variant now Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Coal
  • United Kingdom

Setting the summit pace? UK brings forward end to coal power target

Britain will bring forward its target to end the use of coal in electricity generation by a year to October 2024, the government said on Wednesday, part of efforts to Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Europe

EU drafts plan to tighten carbon market, expand it to shipping, cars, heating

The European Union wants to overhaul its carbon market to cut planet-warming emissions faster and put a price on pollution from shipping, road transport and heating systems in buildings, according Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Russia

Russia Is Seen Able to Boost Oil Output Quickly If OPEC+ Agrees

Russia will be able to keep pace with any easing of OPEC+ production cuts in both the short and medium term, according to analysts including Bank of America Corp. and Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • coronavirus

Delta variant leaves southern Europe struggling to save summer tourism

Southern European countries are in the unenviable position of having to restrict foreign tourism or risk the rapid spread of the Delta coronavirus variant, as economists warn of another disappointing Continue Reading

Posted On : 30 Jun 2021 Published By : Tom Whipple
Category:
  • Prices

Crude oil futures extend overnight losses on renewed pandemic concerns

0255 GMT: Crude oil futures ticked lower during mid-morning trade in Asia June 29, extending the overnight downtrend, as the spread of the delta variant of the coronavirus raised concerns Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • Prices

Oil Slides With Covid Concerns Resurfacing Ahead of OPEC+ Meet

Oil fell as a coronavirus resurgence raised concerns about demand ahead of an OPEC+ meeting this week that could see the alliance boost some halted output. Futures in New York Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • Prices

Oil drops as COVID-19 surges threaten fuel demand outlook

 Oil prices dropped for a second day on Tuesday on worries about slower fuel demand growth as outbreaks of the highly contagious Delta variant of coronavirus sparked new mobility restrictions Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • Prices

Oil drifts near 2018 highs ahead of OPEC+ meeting

 Oil prices hit and then recoiled from highs last seen in October 2018 on Monday as investors eyed the outcome of this week’s OPEC+ meeting as the United States and Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • OPEC

Will OPEC+ Meeting Outcome Cut Oil Price by $10?

 The OPEC+ alliance of major oil producers is scheduled to meet virtually Thursday of this week, and oil market-watchers have been pondering what the group will decide. Below, two of Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • Climate
  • Methane

Why Methane Is Climate’s Low-Hanging Invisible Fruit

Methane is the second-largest contributor to global warming after carbon dioxide. But new and better techniques to spot major emitters of the odorless, colorless gas have pushed curbing it up Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • coronavirus

Live Covid News

Countries across the Asia-Pacific region are scrambling to slow the spread of the more infectious Delta variant, reimposing restrictions and stay-at-home orders in a jarring reminder — for societies that Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • OPEC

Ahead of talks, OPEC forecasts point to oil supply deficit in August

OPEC’s forecasts point to an oil supply deficit in August and in the rest of 2021 as economies recover from the pandemic, suggesting the group and its allies have room Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • Iran

Iran Grapples With Major Oil Worker Strike

Oil and petrochemical workers from 60 companies across eight Iranian provinces are now on strike demanding higher wages and better contractual conditions, Iran International reported , adding that the strikes Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • Iran
  • USA

Undeclared conflict? America’s battles with Iran-backed militia escalate, again

 U.S. President Joe Biden’s latest strikes against Iran-backed militia in Syria and Iraq were not the first nor likely the last of his young presidency. For some of Biden’s fellow Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • Iran
  • USA

Iran Is Increasingly Likely To Accept A New Nuclear Deal

A number of false assumptions have continued to cloud the coverage of the ongoing re-negotiation between the U.S. and Iran of a new iteration of the Joint Comprehensive Plan of Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple

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