The ‘energy crisis’ and its global implications
A particular news caught my attention this morning regarding energy crises. Before going into the depth of the news, I would like to introduce you to the concept of energy Continue Reading
World’s Top Oil Trader Vitol Sees OPEC+ Controlling Crude Market
A Vitol Group oil storage site in Cyprus. OPEC+ appears in control of crude prices as U.S. production is lagging pre-pandemic levels, according to a senior executive at the world’s Continue Reading
Steel-Plant Fire in Iran Is Latest in Spate of Incidents
Blaze at the state-owned Tondgooyan Petrochemical Co. south of Tehran, Iran, on June 3. Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Continue Reading
Saudi Arabia Says It is No Longer An Oil Producing Country
When Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced that Saudi Arabia was no longer an oil-producing country, he likely didn’t mean literally. “Saudi Arabia is no longer an Continue Reading
Qayarah field resumes production
production has resumed at the Qayarah heavy oil field in Ninewa province after a 14-month shut-in due to protests at export terminals, OPEC-plus output restrictions, and disputes over crude transport, Continue Reading
Scientists develop ‘cheap and easy’ method to extract lithium from seawater
(Reference image by Benjamín Núñez González, Wikimedia Commons). To address this issue, the team led by Zhiping Lai tried a method that had never been used before to extract lithium Continue Reading
If Covid Did Escape From a Wuhan Lab, Brace Yourself
Did it all start right here? Ever since President Joe Biden ordered U.S. intelligence agencies to investigate reports that the Covid-19 virus might have escaped from a laboratory in Wuhan, Continue Reading
Pipeline foes gear up for large northern Minnesota protest
Environmental and tribal groups opposed to Enbridge Energy’s ongoing effort to replace its aging Line 3 crude oil pipeline are planning large protests in northern Minnesota as the Canadian-based company Continue Reading
China’s imports grow at fastest pace in decade as materials prices surge
China’s imports grew at their fastest pace in 10 years in May, fuelled by surging demand for raw materials, although export growth slowed more than expected amid disruptions caused by Continue Reading
Who Will Control Canada’s Most Important Pipeline?
An under-the-radar hearing on the way shippers will contract volumes on Canada’s key crude oil export pipeline began last month in what could turn out to be the most important Continue Reading
Could Gamma-Ray Bursts Give Us Unlimited Energy?
Gamma-ray bursts are the most powerful, brightest explosions in the universe. They last only seconds but release immense amounts of energy—as much, in fact, as the sun will emit throughout Continue Reading
New Renewable Fuel Might be 3 Times More Powerful Than Gasoline
The U.S. Department of Energy is now backing continued research of an incredible fuel that has up to three times the energy content of gasoline. More importantly, it could be Continue Reading
Wyoming To Lead The Coal-To-Nuclear Transition
TerraPower Natrium reactor Coal and natural gas together produce two-thirds of our electricity , almost equally split between them. Nuclear produces 20%, hydro produces 7%, and renewables about 7%. Oil Continue Reading
Energy chief cites risk of cyberattacks crippling power grid
Energy Secretary Jennifer Granholm on Sunday called for more public-private cooperation on cyber defenses and said U.S. adversaries already are capable of using cyber intrusions to shut down the U.S. Continue Reading
Merkel’s party surges in German state vote, beating far right
Germany’s Christian Democrats won a decisive victory in elections in the eastern state of Saxony-Anhalt on Sunday, in a huge boost for their leader Armin Laschet and his bid to Continue Reading
Germany says Ukraine must remain gas transit country after new pipeline
The logo of the Nord Stream 2 gas pipeline project is seen on a pipe at the Chelyabinsk pipe rolling plant in Chelyabinsk, Russia, February 26, 2020. REUTERS/Maxim Shemetov/File Photo/File Continue Reading
Oil Prices Up for Second Straight Week
Oil and gasoline futures both posted their second weekly gain in a row as expectations for a demand pick-up from the northern hemisphere’s summer begin to come to fruition. Futures Continue Reading
Oil rises towards $72 on demand prospects
Oil rose towards $72 a barrel on Friday, trading close to a two-year high as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the Continue Reading
Peak Oil Demand May Be Ten Years Away
The world is past peak coal consumption and may reach peak oil consumption within the next ten years, Alexei Kudrin, the head of the Russian Accounts Chamber, told media this Continue Reading
An enormous missing contribution to global warming may have been right under our feet
Long before the era of fossil fuels, humans may have triggered a massive but mysterious “carbon bomb” lurking beneath the Earth’s surface, a new scientific study suggests. If the finding Continue Reading
India Consumer Confidence Drops to Record Low, RBI Survey Shows
Indian consumers’ confidence is plumbing new lows, adding to a string of grim data in an economy clobbered by the world’s worst coronavirus outbreak. The current situation index fell to Continue Reading
Petroecuador force majeure at Eden Yuturi puts 90,000 b/d of oil output at risk
Ecuador’s state-owned Petroecuador has declared force majeure at Campo Eden Yuturi, a highly strategic field located in Block 12 in eastern Orellana province, saying blockades by an indigenous community have Continue Reading
U.S. Job Growth Picks Up in Sign of Progress on Filling Openings
U.S. Adds 559,000 Jobs in May, Short of Estimates U.S. job growth picked up in May — along with worker pay — and the unemployment rate fell, signaling firms are Continue Reading
Hiring Picked Up in May but Lagged Behind Broader Recovery
U.S. employers boosted hiring in May, but not enough for the labor market to keep pace with an overall economy that is heating up as the pandemic continues to ease. Payrolls grew Continue Reading
U.S. Rig Count Falls As Drillers Show Discipline
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States fell this week, bringing the total rig count to 456—still a more than Continue Reading
US Central, Northeast power prices spike on incoming high temperatures
Spot power and gas prices in the Central and Northeast regions jumped notably June 4 as a warm spell was forecast to move into the region. Spot power prices in Continue Reading
Putin says Nord Stream 2 gas link to be finished as U.S. seeks good European ties
Russia’s Nord Stream 2 gas pipeline is ready to start pumping gas to Germany and the final stretch will be completed as the new U.S. administration seeks good relations with Continue Reading
Covid infections rise by two-thirds in UK
Health teams have been carrying out surge testing in Dewsbury, as well as other towns where the Indian variant is spreading The number of people infected with coronavirus in the Continue Reading
Russia Claims Its Compliance With OPEC+ Cuts Was Almost 100% In May
Russia was close to complying 100 percent with its oil production quota under the OPEC+ deal in May, Russian Deputy Prime Minister Alexander Novak said on Friday. “It will be Continue Reading
Russia’s Sechin warns of oil shortage amid drive for green energy
Igor Sechin, the head of Russian oil major Rosneft, said on Saturday the world was facing an acute shortage of oil due to underinvestments amid a drive for alternative energy. Continue Reading
German climate plan draft looks to raise 2030 solar, wind targets
Leaked draft targets 150 GW solar, 95 GW onshore wind Little impact, with budget approval only after elections Coalition already doubled 2022 tenders to 10 GW Germany’s government is considering Continue Reading
Oil Climbs Near Highest Since 2018 With More Iran Talks Expected
Oil crept higher with prices trading near their highest level since 2018. Futures in New York erased earlier losses to trade above $69 a barrel. A significant draw in American Continue Reading
Oil rises towards $72 on demand prospects
Oil rose towards $72 a barrel on Friday, trading close to a two-year high as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the Continue Reading
Oil Prices Barely End Winning Streak
Oil was virtually unchanged as a stronger dollar weighed broadly across commodities, while traders assessed rising fuel stockpiles in the U.S. Futures in New York lost two cents on Thursday, Continue Reading
Oil rises as demand picture improves and suppliers keep supply tight
Oil prices rose for a third day on Thursday on expectations of a surge in fuel demand later this year, particularly in the United States and Europe and China, at Continue Reading
Blackrock: Investors Cannot ‘’Run Away’’ From Oil Industry
BlackRock, the world’s largest asset manager, will continue to work with oil and gas firms in order to help them through the energy transition, Reuters quoted chief executive Larry Fink Continue Reading
Global food prices post biggest jump in decade
Global food prices have surged by the biggest margin in a decade, as one closeh watched index jumped 40 percent in May, heightening fears that the inflation initially stoked by Continue Reading
Russia’s Lukoil ‘happy’ to resume talks on Iranian projects once US sanctions lifted
Russia’s Lukoil would be “happy” to return to talks on its Iranian oil projects, which were at an advanced stage, once US sanctions on the Middle Eastern country are lifted, Continue Reading
US State Department sees longer road ahead for Iran talks, lifting sanctions
Highlights Deal may have to wait for Iran’s June 18 election Platts Analytics sees full US sanctions relief by Q3 The US State Department signaled June 3 that indirect talks Continue Reading
Are Regional Companies Ready To Dominate South Asian Oil Markets?
Hibiscus Petroleum Bhd. is set to take over Repsol’s operations in Malaysia and Vietnam as the Spanish company sells its exploration and production assets in a move away from Malaysia Continue Reading
Africa’s Oil-Producing Nations Rally Against Threat to Fossil Fuels
Some African oil-producing nations yesterday opposed what they described as the global conspiracy to shut down the economies of the continent’s resource-dependent countries. They urged members to take urgent action Continue Reading
Brazil Needs More LNG Amid Worst Drought in Decades
Brazil’s worst water crisis in almost a century is turning Latin America’s biggest economy into a hot spot for liquefied natural gas. As hydropower output declines, South America’s most populous Continue Reading
Analysis: Venezuelan oil, masked as Malaysian, rushes into China before fuel tax
Traders are racing to deliver record volumes of Venezuelan crude oil masked as Malaysian bitumen blend to China, ahead of new fuel taxes that look set to upend the lucrative Continue Reading
Texas Gas Companies To Pay Steep Bill To Avoid Another Power Crisis
Texas legislators have hashed out their differences in proposed legislation to address the failures at power plants and gas infrastructure and prevent another deadly power crisis like the disaster in Continue Reading
US gas storage fields post second consecutive above-average weekly injection
US natural gas storage fields injected just above the five-year average for the week ended May 28, but below-normal builds are expected in the weeks ahead as gas-fired power generation Continue Reading
Weekly US coal production totals 12 million st, up 43.7% on year
Highlights Annualized output expected at 574 million st YTD output of 231 million st, up 6% on year Weekly US coal production was estimated to be 12 million st, up Continue Reading
SK makes strategic investment in clean hydrogen company Monolith; “cyan hydrogen”
SK Corp, the holding company of SK Group, has made a strategic investment in Monolith , a US company that has developed a plasma-based process to produce “cyan” hydrogen—between green Continue Reading
Worst Drought in Decades Escalates Threats Across U.S. West
Almost three-fourths of the western U.S. is gripped by drought so severe that it’s off the charts of anything recorded in the 20-year history of the U.S. Drought Monitor.Mountains across Continue Reading
U.S. Cities And States Clash Over Natural Gas
It all began in California. In 2019, the city of Berkeley enacted the first city-wide ban on new natural gas hookups in residential buildings. The aim was to reduce emissions Continue Reading
U.S. Natural Gas Storage Capacity Hardly Increased Since Start Of Shale Boom
Underground storage capacity for natural gas in the United States has stayed essentially flat between 2012 and 2020, and was little changed from 2019 to 2020, the U.S. Energy Information Continue Reading