Light Crude Settles Above $74
Oil posted its fifth straight weekly gain, the longest winning streak since December, as demand recovers and supplies continue tighten in the U.S. and China. Futures in New York rose Continue Reading
Oil Prices Continue To Climbs Despite Resistance
Oil appears set to close out another week of gains, although trading became choppy this week as OPEC+ readies production increases. Biden supports Line 3. The Biden administration supported the Continue Reading
Oil Set for Weekly Gain as Focus Turns to Upcoming OPEC+ Meeting
Oil is heading for a fifth weekly advance, the longest winning streak since December, as stockpiles shrink and the market tightens ahead of an OPEC+ meeting that will consider pumping Continue Reading
Oil prices rise further on tight supply outlook, eyes on OPEC+
Oil prices climbed for a third straight session on Friday, on track for a fifth consecutive weekly gain, as demand growth is expected to outstrip supply on bets that OPEC+ Continue Reading
Glaciers All Over the World Are Shrinking Fast—See for Yourself
The glaciers of the Tian Shan mountain range in northwestern China had lost about a quarter of their ice mass since the 1960s when this image was captured, in November Continue Reading
Iraq signs deal with Abu Dhabi’s Masdar for 2 GW of solar power projects
Highlights Iraq aims to generate 20-25% of energy from renewables Country suffers from electricity shortages, especially in summer Also seeks to lower oil volumes used for power generation Iraq has Continue Reading
Nigeria’s ‘Delta Avengers’ threaten oil installation attacks
A militant group in Nigeria’s oil-producing Delta region has threatened to resume attacks amid rising insecurity and disagreements over the share of oil wealth communities should get. The group, called Continue Reading
Hospitals in South Africa Hub Face Being Overrun by Covid Surge
Hospital capacity in South Africa’s industrial hub of Gauteng is at risk of being breached by surging Covid-19 cases within days. The densely populated province, which includes Johannesburg and Pretoria, Continue Reading
CHINA DATA: State-run refineries’ crude run rises to four-month high of 82% in June
Highlights High throughput, low exports lead to weak product sales Zhejiang Petrochemical Co. delays startup of its fourth CDU The average utilization rate of China’s four state-owned refineries rose by Continue Reading
Tesla to Recall Over 285,000 Cars in China on Autopilot Issues
Tesla Inc. Model 3 vehicles at the company’s Gigafactory in Shanghai in 2019. Tesla Inc. plans to recall more than 285,000 electric vehicles sold in China to address risks associated Continue Reading
U.S. drillers add oil and gas rigs for 11th month -Baker Hughes
U.S. energy firms kept the number of oil and natural gas rigs unchanged this week but added rigs for an 11th month in a row as some drillers returned to Continue Reading
Congress Restores Pre-Trump Era Methane-Gas Emissions Standards
Congress has moved to restore environmental regulations to limit the amount of methane that leaks from U.S. oil and gas production facilities, reversing a Trump era rollback for the greenhouse Continue Reading
Against Expectations, Southwestern Summers Are Getting Even Drier
The Southwest, already the driest region in the United States, has become even drier since the mid-20th century, particularly on the hottest days, according to new research. Humidity has declined Continue Reading
Oil Rig Count Falls As U.S. Drillers Exercise Caution
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States stayed the same this week, with the total rig count holding fast at Continue Reading
Blackout Risk And Electricity Prices Are Spiking In California
Electricity prices for Californians are spiking, but so is the danger of blackouts—both planned and unplanned. Exceptional drought forecasts for this summer prompted PG&E to warn earlier this month that Continue Reading
Texas Grid Meets Record June Demand
The Electric Reliability Council of Texas (ERCOT) has been able to meet record peak demand so far in June despite tight grid conditions last week. Yet, analysts and residents question Continue Reading
Global Jet Fuel Demand Is Slowly Recovering
America and Europe are leading a slow but steady recovery in global airline seat capacity and travel, which is driving up demand for jet fuel. Aviation fuel demand will not Continue Reading
U.S. LNG Exports Are Surging Despite Jump In Shipping Costs
Despite a 65-percent jump in the cost of U.S. exports of liquefied natural gas to the biggest import market, Asia, American LNG shipments abroad have soared to record highs and Continue Reading
California Bets On Clean Energy To Beat Blackouts
The California Public Utilities Commission (CPUC) ordered on Thursday utilities to procure 11.5 gigawatts from zero-emission electricity sources in what it described “a historic decision” aimed at ensuring reliability and Continue Reading
$6 Billion Sale From Petroleum Reserve May Help Fund Infrastructure Plan
The U.S. could sell $6 billion worth of crude oil from the Strategic Petroleum Reserve (SPR) as one of the financing sources for new investment in the infrastructure deal, Reuters Continue Reading
Gas Shortage Pushes Coal Prices To 10-Year High
Tight natural gas supply and a rebound in electricity consumption have combined to push thermal coal prices to the highest in a decade, the Wall Street Journal reports , adding Continue Reading
NYMEX Henry Hub prompt-month hits 30-month high as US supply balance tightens
Highlights NYMEX prompt-month settles June 25 at $3.50/MMBtu Storage deficit widens to 154 Bcf below five-year average Month-to-date power burn at record high for June The NYMEX Henry Hub prompt-month Continue Reading
Los Alamos and Oberon Fuels receive DOE funding to produce renewable hydrogen from renewable DME (rDME)
A public-private partnership between Los Alamos National Laboratory and Southern California-based Oberon Fuels has secured funding from the US Department of Energy (DOE) to scale-up steam reforming technology to produce Continue Reading
$70+ Oil Prompts Concerns in Oilfield Services
Here is a look back at oil and gas market hits and misses for the week ending June 25, 2021. (The views and opinions expressed in this article are those Continue Reading
USA Crude Hub Stocks Seen Falling to Historic Lows
Crude oil inventories in America’s largest storage hub could fall to historically low levels by the end of September as the demand rebound continues to outpace production. (Bloomberg) — Crude Continue Reading
19 U.S. Oil & Gas Pipelines Moving To Completion This Year
U.S. operators have completed, started building, or announced a total of 19 petroleum liquids pipeline projects so far this year, the Energy Information Administration (EIA) said on Friday. Two pipelines Continue Reading
U.S. refining capacity shrinks 4.5% as pandemic shuts plants
U.S. refining capacity last year fell 4.5% to 18.13 million barrels per day (bpd) from a record 18.98 million bpd a year earlier, the U.S. government reported on Friday, reflecting Continue Reading
Texas power grid overcomes problems to meet record June demand
Peak electricity demand in Texas broke June’s record on Thursday and was expected to do so again on Friday, the power grid operator said, but there was no repeat of Continue Reading
Thermal-Coal Prices Hit Decade High Amid Gas Shortage
Coal prices have climbed to their highest level in a decade, making the fuel a hot commodity in a year when governments are pledging reductions in carbon emissions. Thermal-coal pricesSource: Continue Reading
Record Heatwaves Are Scorching Eastern Europe and Siberia
Residents in eastern Europe and parts of Siberia unaccustomed to high temperatures are struggling to cope with heatwaves sweeping across the region. Kyiv, Belgrade and Budapest experienced record-high monthly temperatures Continue Reading
Britain prepares for new wave of nuclear decommissioning
At Dungeness B nuclear power station on a remote stretch of the Kent coast in south-east England, workers are making preparations to carefully remove thousands of radioactive fuel elements from Continue Reading
Sluggish jet demand to cap European crude refinery runs, FGE says
A recovery in European jet fuel demand to pre-pandemic levels is years away, forcing regional refiners to continue blending the aviation fuel into diesel, and keeping a lid on their Continue Reading
U.K. Faces Food Shortages as Worker Scarcity Gets Worse
From abattoirs to restaurant kitchens, the U.K. food sector is facing a massive challenge this summer: there just aren’t enough workers. The food industry, already facing labor shortages because of Continue Reading
Oil Set for Weekly Gain as Focus Turns to Upcoming OPEC+ Meeting
Oil is heading for a fifth weekly advance, the longest winning streak since December, as stockpiles shrink and the market tightens ahead of an OPEC+ meeting that will consider pumping Continue Reading
Oil prices rise further on tight supply outlook, eyes on OPEC+
Oil prices climbed for a third straight session on Friday, on track for a fifth consecutive weekly gain, as demand growth is expected to outstrip supply on bets that OPEC+ Continue Reading
Oil Prices Show Slight Gains
Oil eked out a small gain in a choppy trading session with traders awaiting upcoming deliberations among OPEC+ producers that may lead to a supply hike. U.S. crude futures closed Continue Reading
Oil Edges Higher With Shrinking Stockpiles Tightening Market
Oil edged higher above $73 a barrel in New York as falling stockpiles in the U.S. and China added to bullish sentiment around the global demand recovery. Gasoline inventories in Continue Reading
Reducing oil use to meet climate targets is tougher than cutting supply
Governments around the world have been slow to take uncomfortable decisions to persuade consumers to cut energy consumption to help achieve climate targets, often because consumers are not ready to Continue Reading
OPEC+ faces calls to hike oil output, but some warn against loosening quotas too fast
Highlights Members will meet online July 1 to decide on August quotas Robust demand growth prompts talk of $100/b oil prices Pandemic recovery, Iran nuclear talks remain uncertainties Dated Brent Continue Reading
UAE Could Become First OPEC Producer To Pledge Net-Zero By 2050
One of OPEC’s largest producers, the United Arab Emirates (UAE), is considering the potential adoption of a net-zero by 2050 goal, Bloomberg reported on Thursday, citing sources with knowledge of Continue Reading
Will Iran Emerge As A Renewable Energy Breakout Story?
Iran is without doubt one of the wealthiest countries in terms of energy production. Not only does the Middle Eastern country possess the world’s 2 nd largest natural gas reserves Continue Reading
India’s Richest Man Announces $10 Billion Bet On Renewables
India’s oil-to-telecoms conglomerate Reliance Industries plans to invest more than US$10 billion in three years in a new business unit that will build solar module, battery storage, electrolyser, and fuel Continue Reading
Venezuela’s Descent Into Anarchy Is Fueling Maduro’s Desperation
Venezuela’s Descent Into Anarchy Is Fueling Maduro’s Desperation Description: Tags: After more than 15 years of U.S. sanctions which caused Venezuela’s one mighty petroleum industry to collapse, the crisis-driven Latin Continue Reading
U.S. says ban on Chinese firm’s solar products will not slow clean energy progress
The Biden administration said Thursday it banned U.S. imports of a key solar panel material from Chinese-based Hoshine Silicon Industry Co (603260.SS) , but stopped short of imposing a ban Continue Reading
First deepwater gas field fully run by China starts production
The first deepwater gas field fully operated by a Chinese company, Lingshui 17-2, started production on Friday, the country’s national offshore producer CNOOC Ltd (0883.HK) said. The gas project, in Continue Reading
‘We have a deal:’ Biden OK’s $1.2 trillion infrastructure plan
U.S. President Joe Biden on Thursday embraced a $1.2 trillion bipartisan Senate deal to renew the nation’s roads, bridges and highways and help stimulate the economy — a major breakthrough Continue Reading
Biden, Senators Get $579 Billion Bipartisan Infrastructure Deal
WATCH: Biden says “we have a deal.” President Joe Biden celebrated his tentative deal with a group of Democratic and Republican senators on a $579 billion infrastructure plan, saying it Continue Reading
Biden, Senators Agree to Roughly $1 Trillion Infrastructure Plan
President Biden and a group of 10 centrist senators agreed to a roughly $1 trillion infrastructure plan Thursday, securing a long-sought bipartisan deal that lawmakers and the White House will now attempt Continue Reading
U.S. customs bars imports of solar panels made with polysilicon from Hoshine – The Washington Post
The Biden administration banned the import of solar panels and other goods made with materials produced by a Chinese company that it accused of using forced laborers from China’s Xinjiang Continue Reading
U.S. Shale Eyes A $60 Billion Year
Oil execs and producers are historically pretty good at making money. Oil is a roller coaster of an economic sector, based on a boom-and-bust model. Bankruptcy and insolvency are not Continue Reading