Saudi Aramco raises $6 billion with debut sukuk
Saudi Arabian oil giant Aramco (2222.SE) locked in another $6 billion on Wednesday to help fund a large dividend as it returned to the international debt markets with its first Continue Reading
Indian state sharply raises COVID-19 death toll prompting call for wide review
An Indian state has raised its COVID-19 death toll sharply higher after the discovery of thousands of unreported cases, lending weight to suspicion that India’s overall death tally is significantly Continue Reading
India’s second wave is waning. But authorities are already bracing for the next one.
Two months ago, the Lok Nayak Jai Prakash Narayan Hospital in India’s capital was a battlefield. Every one of its 1,500 beds for coronavirus patients was full. It came perilously close to Continue Reading
ExxonMobil announces new discovery offshore Guyana at Longtail-3
Liza Phase 2 production startup slated for early 2022 Six drillships active in the Stabroek block Liza crude exports heading to China, Netherlands ExxonMobil said June 9 it made a Continue Reading
China Tempers Climate Change Efforts After Economic Officials Limit Scope
China’s top economic planners have put the brakes on attempts by environmental officials to reduce carbon emissions as driving growth takes priority over meeting climate targets for now, according to Continue Reading
Samsung Heavy to partner with KAREI to develop molten-salt reactor floating power plants and nuclear-powered ships
Samsung Heavy Industries (SHI) is making a full-scale effort to develop offshore nuclear power plant technology. SHI has signed a Molten-Salt Reactor (MSR) development and joint research agreement with the Continue Reading
U.S. Is Awash With Gasoline in ‘Lumpy’ Rebound From Pandemic
American oil refiners eager to boost gasoline production for the summer driving season are leaving the country awash with fuel at a time when the rebound in consumption is still Continue Reading
Texas Renewables Defy GOP Backlash With $20 Billion in Projects
Four months after the failure of the Texas electric grid sparked a backlash against clean power, investors and developers have decided just what the state needs: more renewable energy. Much Continue Reading
Eying deal, GM softens on tough standards for car pollution
The nation’s largest automaker said Wednesday it can support greenhouse gas emissions limits that other car manufacturers negotiated with California — if they are achieved mostly by promoting sales of Continue Reading
U.S. Retail Sales Forecast Rises Sharply as Covid-19 Restrictions Ease
U.S. lockdowns have lifted and shopping is back. The National Retail Federation said Wednesday it expects retail sales to jump between 10.5% and 13.5% to more than $4.44 trillion this year Continue Reading
Oil Investors Shrug Off EV ‘Revolution’
EVs can “eat into traditional market share for liquid fuels,” but that’s largely a “developed economy, or rich country issue at this point.” — Dean Foreman, American Petroleum Institute. Over Continue Reading
Dealmaking In U.S. Shale Patch Heats Up As Oil Prices Rise
Rising oil prices are encouraging U.S. shale producers to put up for sale non-core assets to streamline operations and reduce debt. Property sales have accelerated this year as exploration and Continue Reading
Canada’s Top Oil Sands Firms Set Up Net-Zero Emissions Alliance
The biggest oil sands producers in Canada announced on Wednesday a net-zero collaboration initiative to achieve net-zero emissions from oil sands operations by 2050 to help Canada to meet its Continue Reading
ANALYSIS: US Midwest gas-fired power demand down this summer despite warmer temps
Prices prompting gas-to-coal switching Wind generation capacity up year over year Despite warmer temperatures and the absence of coronavirus-related demand destruction, Midwest gas-fired power generation is down 300 MMcf/d summer Continue Reading
US refined product stocks climb on stronger refinery runs, weaker demand
Highlights Gasoline stocks climb 7.05 million barrels Implied gasoline demand hits 12-week low Crude stocks fall 5.24 million barrels US refined product inventories were sharply higher in the week ended Continue Reading
Indigenous Group Wants 100 Percent of TM Pipeline
Project Reconciliation, a Canadian indigenous group seeking a stake in the Trans Mountain oil pipeline, is now aiming for a path to full ownership, the group’s new chairman said. (Bloomberg) Continue Reading
Exxon to invest $240 million in Louisiana refinery -Governor
Exxon Mobil Corp (XOM.N) plans to invest $240 million to expand the crude slate and improve pollution control at its 502,500 barrel-per-day refinery in Baton Rouge, Louisiana, said the state’s Continue Reading
Developer officially cancels Keystone XL pipeline project blocked by Biden
A $9 billion oil pipeline that became a symbol of the rising political clout of climate change advocates and a flash point in U.S.-Canada relations was officially canceled on Wednesday. Continue Reading
Keystone XL Oil Project Abandoned by Developer
Canada’s TC Energy Corp. TRP 0.59% and the Albertan provincial government said Wednesday they would scuttle the Keystone XL oil pipeline project, bringing to an end a yearslong controversy over an effort to pipe more Continue Reading
Biden EPA moves to reverse and rewrite Trump administration changes to Clean Water Act – The Washington Post
The Biden administration is set to toss out President Donald Trump’s efforts to scale back the number of streams, marshes and other wetlands that fall under federal protection, kicking off Continue Reading
Exxon’s shale output per well slips as total production rises -report
Exxon Mobil Corp (XOM.N) ‘s oil wells in part of a marquee U.S. shale field generated fewer barrels per well as it ramped up overall spending and production, according to Continue Reading
CEC report finds California needs 1.2M public and shared EV chargers by 2030; 73k installed to date
New analysis from the California Energy Commission (CEC) shows the state will need nearly 1.2 million public and shared chargers by 2030 to meet the fueling demands of the 7.5 Continue Reading
Exxon’s board shakeup could force review of billions of dollars in spending
The recent overhaul of Exxon Mobil Corp’s (XOM.N) board of directors could shift billions of dollars in spending and strategy over several years, but any changes likely will take time, Continue Reading
U.K. to Ban Halogen Light Bulbs From September in Green Push
The U.K. will ban the sale of halogen light bulbs in September as part of a shift toward LED-only lighting from 2023 to curb emissions. The transition to LED bulbs — Continue Reading
Shell Vows to Speed Up Emissions Cuts in Wake of Court Ruling
Royal Dutch Shell PLC said it would accelerate its efforts to cut its carbon emissions in the wake of a Dutch court ruling last month ordering the oil giant to take Continue Reading
Delta-EE: Europe tracking to 2.7 GW of operational hydrogen electrolyzer capacity by 2025; well short of EU target
A new study by Delta-EE , a specialist new energy research & consulting company, has found that the total announced project capacity of the rapidly growing European hydrogen electrolyzer market Continue Reading
The World’s Electric-Car Capital Is Having Nasty Fights Over Oil
In one of the greenest cities in the world, where electric cars abound and almost all carbon emissions will be eliminated within a decade, the debate about climate change is Continue Reading
Crude oil prices hit fresh highs on bullish EIA outlook while US-Iran talks drag
Crude oil futures hit fresh multiyear highs during midmorning Asia trade June 9 as the US Energy Information Administration forecast a decline in global oil inventories in the second half Continue Reading
Oil Prices Climb As API Report Adds To Bullish Sentiment
The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 2.108-million barrels for the week ending June 4. Analysts had predicted a draw of 2.036 Continue Reading
Oil Could Reach $80 This Summer, But There’s A Catch
After having a year to forget in 2020, the energy sector has this year emerged as the best-performing of all 11 U.S. market sectors. Energy Select Sector is up 46.2% Continue Reading
Oil prices climb on signs of strong fuel demand recovery
Oil prices rose for a second session on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded as the U.S. secretary Continue Reading
Oil Closes Above $70 a Barrel for First Time in Over Two Years
Oil resumed its rally to top $70 a barrel in New York as investors grew more confident that accelerating vaccinations and easing travel restrictions will continue to boost demand. West Texas Continue Reading
Is This The Beginning Of The End For Oil Super Majors?
Energy-oriented investors could not fail to have taken note of the decision that came down in the Dutch court against Shell, (NYSE:RDS.A), (NYSE:RDS.B), last week. This decision was the first Continue Reading
When Will Oil Demand Hit Peak Velocity?
Standard Chartered’s latest oil market report takes a look at when global oil demand will hit peak velocity. Right now, according to Standard Chartered’s latest oil market report, which was Continue Reading
The Retreat of Exxon and the Oil Majors Won’t Stop Fossil Fuel
When Exxon Mobil Corp. decided to get out of a big oil field in Iraq, the government took on the unusual role of salesman. Iraqi officials pitched West Qurna-1 to likely buyers Continue Reading
Carbon Capture Investment Soars As CO2 Levels Hit Record High
With carbon capture having hit record levels, government investment in new projects is soaring, even Elon Musk is backing it . Here’s what’s happening in the space. As populations continue Continue Reading
Natural gas in transition: Renewables capturing market from gas-fired generation
The accelerating transition toward a low-carbon future promises a slow decline for gas-fired power generation in the years ahead as wind and solar continue to gain traction, propelled by low Continue Reading
Low Clean-Energy Spending in Poor Countries Puts Climate Goals in Peril
As the world’s richest economies invest in new and cleaner power supplies, it’s vital for everyone that poorer nations don’t get left behind. Investments in clean energy in these economies Continue Reading
How A 100 Year Old Science Experiment Helped Create The Fuel Of The Future
Over a century ago, a unique chemical process helped take the world from the brink of a food crisis that would’ve led many to starve. It was called “the biggest Continue Reading
IEA calls on private finance to prevent surge in emerging economy emissions
Annual spend needs to increase seven times Capital ‘significantly more expensive’ for emerging, developing economies Focus must be on power sector, electrification Emerging and developing economies are set to account Continue Reading
Analysis: ExxonMobil’s share in the West Qurna 1 oil field
Rick Vierbuchen (R), then president of ExxonMobil Upstream Ventures, shakes hands with Abdul Mahdy al-Ameedi, the director general of the Oil Ministry’s Petroleum Contracts and Licensing Directorate (PCLD), after signing Continue Reading
OPEC+ lifts May output by 430,000 b/d as Saudi Arabia eases its voluntary cut: Platts survey
Crude oil production from OPEC and its allies jumped 430,000 b/d in May, the latest S&P Global Platts survey found, led by Saudi Arabia, which accounted for about 84% of Continue Reading
Russia Expands Its Influence In Major Iraqi Oil Fields
Given the U.S.’s broad scaling-down of its on-the-ground operations in the Middle East over the past five years, a specific function of which is ExxonMobil’s intention to sell its stake Continue Reading
Turkey to continue Black Sea, East Mediterranean gas drilling: minister
Follows upgrade to Black Sea gas reserves to 540 Bcm First phase of production targets 10 million cu m/d by 2023 ‘Positive signs’ from East Med wells to date Turkey’s Continue Reading
U.S. Extends Olive Branch to Iran Before Round of Atomic Talks
A top U.S. envoy appealed to Iran to accept a “mutual return” to a landmark nuclear agreement with world powers as diplomats are set to gather to negotiate a cap Continue Reading
China tells PetroChina to stop trading off oil quotas with teapots
Chinese authorities have ordered a unit of state-run PetroChina to stop trading off crude oil import quotas with local refineries as part of a crackdown on excessive fuel production, a Continue Reading
China’s Hot Summer Is Latest Test of Its Carbon-Neutrality Drive
For the second time in six months, Chinese provinces are rationing electricity as the nation’s grids struggle to manage a surge in demand. This time, it’s partly because residents are Continue Reading
EIA coal production forecast up 11.3% on year to 600 million st: STEO
The US Energy Information Administration forecast coal production of about 600 million st in 2021, up 11.3% from the estimated 2020 output of 539 million st, the agency’s Short-Term Energy Continue Reading
China considers price controls on surging coal market
China is considering imposing a cap on the price of thermal coal as it struggles to contain high energy costs ahead of peak demand over the summer, Bloomberg reported on Continue Reading
China’s Sinopec targets 500,000 T of ‘green’ hydrogen capacity by 2025
China’s state-controlled energy giant Sinopec aims to set up plants that can make 500,000 tonnes of hydrogen a year from renewable energy sources by 2025, a company executive said at Continue Reading