Chevron Won’t Cut Oil & Gas Business For Renewables
Unlike European supermajors, U.S. Chevron doesn’t have any plans to reduce its oil and gas business to invest in solar or wind power, chief financial officer Pierre Breber said at Continue Reading
Oil And Gas Companies Set For Record Free Cash Flow This Summer
With oil trading above $70 per barrel while investment activity remains low, the world’s publicly traded exploration and production (E&P) companies are set to generate record-breaking free cash flows (FCF) Continue Reading
New Mexico Oil Output Recovers To Pre-Pandemic Levels
New Mexico has become the first major oil-producing state to see its production rate rebound to pre-pandemic levels, but according to legislative analysts cited by the AP, the situation remains Continue Reading
White House seeks to tap SPR to pay for part of infrastructure deal
Highlights Deal include $7.5 billion for EV charging stations SPR could raise $45 billion if drained at current price Selling crude oil from the US Strategic Petroleum Reserve would be Continue Reading
Weekly US coal production totals 12.2 million st, up 28.7% on year: EIA
Weekly US coal production was an estimated 12.2 million st in the week ended June 19, down 2.1% from the previous week and up 28.7% from the year-ago week, Energy Continue Reading
California approves clean energy proposal to help respond to extreme weather
California regulators approved on Thursday a proposal that will require utilities to buy more clean power, a measure backed by environmental groups. Under the proposal, utilities will have to buy Continue Reading
Bipartisan Infrastructure Deal Omits Big Climate Measures
A deal reached Thursday between President Biden and a bipartisan group of senators for $579 billion in new spending to repair the nation’s roads, rails and bridges does relatively little Continue Reading
US oil, gas rig count jumps 10 to 577, amid more signs of oil demand recovery
Oil rigs, horizontal oil rigs up 16 each to 448/335 Bakken Shale gains four rigs, for total of 23 Upstream optimism may be greater than forecast The US oil and Continue Reading
Texas power grid faces summer having changed little from February freeze
Texas’s grid operator frightened residents last week when it said it had very little reserves to cover demand spiking as temperatures soared. This summer could produce more scary times. In Continue Reading
Nearly all COVID deaths in US are now among unvaccinated
Nearly all COVID-19 deaths in the U.S. now are in people who weren’t vaccinated, a staggering demonstration of how effective the shots have been and an indication that deaths per Continue Reading
Records crumble in Europe, Russia amid scorching heat wave
As temperatures approach 115 degrees in the Pacific Northwest this weekend, a second regime of top-tier heat will scorch Europe amid a record-breaking heat wave. Monthly records have already fallen as Continue Reading
Long covid: Two million people may have suffered long-haul covid-19 in England, government-backed survey indicates –
Some covid-19 patients say that after their immediate illness subsided, they suffered lingering symptoms for months, including fatigue, insomnia, brain fog and respiratory problems. This has become informally known as Continue Reading
Crude oil futures steady as EIA reports stock draw in line with API
Crude oil futures were steady during the mid-morning trade in Asia June 24 on unchanged fundamentals, with the US Energy Information Administration’s report of a draw in US crude inventories Continue Reading
Oil Producers on Track to Set $348B Cash Flow Record
The world’s publicly traded independent oil producers will make record profits this year, surpassing the levels reached when crude hit an all-time high near $150 a barrel more than a 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
Oil gains as U.S. crude draws, German data boost outlook demand
Oil prices gained for a second day on Thursday after drawdowns in U.S. inventories and accelerating German economic activity bolstered confidence in the fuel demand recovery. Doubts about the future Continue Reading
Oil Up as Stockpile Drop Shows Tight Market
Oil in London advanced to a fresh two-year high above $75 a barrel, as industry data pointing to another drop in U.S. crude stockpiles reinforced a bullish picture for global Continue Reading
Oil Prices Finish Higher Amid Overbought Signs
Oil pared gains with technical indicators showing the commodity is overbought, while traders assessed depleting U.S. stockpiles. Futures in New York closed 0.3% higher on Wednesday with West Texas Intermediate’s Continue Reading
Oil Climbs Higher On Bullish EIA Data
Oil prices jumped further today after the Energy Information Administration reported a crude oil inventory draw of 7.6 million barrels for the week to June 18. This compared with a Continue Reading
The Unintended Consequences Of Punishing Big Oil
The ‘day of reckoning’ for Big Oil, when events at boardrooms and courtrooms issued last month the starkest warning to oil majors’ license to operate yet, was hailed as a Continue Reading
Middle East’s share of India’s oil imports hits 25-month low
The share of Middle Eastern crude in India’s oil imports fell to a 25-month low in May, tanker data provided by trade sources showed, as refiners tapped alternatives in response Continue Reading
Reuters: U.S. Agrees To Lift Iran Oil Sanctions
The United States has agreed to lift all sanctions on the Iranian oil and shipping industry and to remove several senior officials from a blacklist, Reuters has reported , citing Continue Reading
Saudi’s April oil exports more than double yr/yr to $13.8 billion
The value of Saudi Arabia’s oil exports in April climbed 109% to 51.7 billion riyals ($13.79 billion) from a year earlier while non-oil exports rose by 46.3%, official data showed Continue Reading
Saudi Aramco extends $10 bln loan on improved terms, sources say
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov DUBAI, June 23 (Reuters) – Saudi Arabian oil giant Aramco Continue Reading
Nigerian Billionaire Dangote to Expand Into Oil, Gas in Cameroon
Aliko Dangote, Africa’s richest person, said he plans to diversify his group’s investments in Cameroon, starting with energy. “We have plans to expand our investment to other sectors beginning with Continue Reading
The Little Hedge Fund Taking Down Big Oil
On the day the little investment firm Engine No. 1 would learn the outcome of its proxy battle at Exxon Mobil, its office in San Francisco still didn’t have furniture. Continue Reading
Dallas Fed: Oil And Gas Sector Is On Fire
The oil and gas sector continued its strong growth in Q2, according to executives polled by the Dallas Fed in its most recent survey published on Wednesday. The survey’s broadest Continue Reading
Infrastructure deal moves closer as senators, White House broker framework. – The Washington Post
bipartisan group of senators tentatively reached an agreement with White House officials Wednesday on hundreds of billions of dollars in new spending for the nation’s infrastructure system, giving a significant Continue Reading
Solar industry ties to China’s Xinjiang region raise forced labor concernst
At a silicon factory in China’s northwestern desert, Uyghur workers man electric furnaces that reach more than 2,000 degrees. Those with college degrees can earn about $600 a month running Continue Reading
China’s tight storage availability caps light cycle oil imports in May, June
The lack of available storage in China had limited the import of light cycle oil in May and June, ahead of the implementation of a new consumption tax on June Continue Reading
China ‘needs a future coal industry, not a future without coal’
Coal needed to provide backup power Feedstock for hydrogen production CCUS a top priority for China China’s strategy to achieve net zero will require large-scale deployment of carbon capture, usage Continue Reading
U.S. crude, gasoline stockpiles slump on growing demand
A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant June 23 (Reuters) Continue Reading
Interior sec’y says no plan ‘right now’ to ban new oil, gas leasing
U.S. Interior Secretary Deb Haaland on Wednesday told a congressional hearing that there is no plan to permanently ban new oil and gas drilling on federal land but her agency Continue Reading
Amazon to Buy Renewable Power Across the U.S. in Green Push
The renewable electricity will help Amazon power its warehouses, offices and data centers. Amazon.com Inc. signed deals to buy power from 14 wind and solar farms across North America and Continue Reading
China to use more natural gas in energy mix to 2035 – CNPC
China National Petroleum Corporation (CNPC)’s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. Picture taken July 17, 2018. REUTERS/Chen Aizhu/Files Continue Reading
Some Republicans Find Failure to Grapple With Climate Change a ‘Political Liability’
A small but growing number of Republicans say the G.O.P. needs a coherent climate strategy and formed a “Conservative Climate Caucus” on Capitol Hill. When Representative John Curtis quietly approached Continue Reading
The Delta Variant: What Scientists Know
The super-contagious Delta variant of the coronavirus is now responsible for about one in every five Covid-19 cases in the United States, and its prevalence has doubled in the last Continue Reading
Delta variant spread in U.S. exposes poorly vaccinated regions to renewed danger
The rapid spread of the delta variant of the coronavirus is poised to divide the United States again, with highly vaccinated areas continuing toward post-pandemic freedom and poorly vaccinated regions threatened Continue Reading
Historic heat wave to bake Pacific Northwest. Seattle, Portland
Confidence is increasing that an episode of historic heat will torch much of the Pacific Northwest late this week into early next, with temperatures 30 degrees or more above average Continue Reading
Summary of Weekly Petroleum Data for the week ending June 18, 2021
Weekly Petroleum Data for the week ending June 18, 2021 U.S. crude oil refinery inputs averaged 16.1 million barrels per day during the week ending June 18, 2021 which was Continue Reading
NYC Blocks Startup Revel’s Planned Tesla Taxis In Climate Snub
The New York City Taxi and Limousine Commission, which regulates the for-hire vehicles, voted on Tuesday to stop issuing new for-hire licenses for electric vehicles (EVs), essentially blocking the efforts Continue Reading
US gasoline stocks see unexpected draw amid strong demand, weaker imports
Highlights Gasoline stocks fall 2.93 million barrels Demand tests pre-pandemic highs Crude stocks fall amid rising demand, sideways production US gasoline inventories saw an unexpected decline in the week ended Continue Reading
Most US upstream execs expect global oil supply gap by 2025: Dallas Fed survey
Highlights OPEC is ‘back in the driver’s seat’ on balancing market Oil, gas activity strong in Q2 but cost pressures rising Execs predict $70/b WTI, $3.10/MMBtu gas at end-2021 Underinvestment Continue Reading
New York City to Install First Curbside Electric-Vehicle Charging Station
New York City will install its first curbside electric-vehicle charging stations this year, part of an effort to address the dearth of charging options in the city. The Department of Transportation Continue Reading
Canada’s Oil Sands Production Is Roaring Back
Canada’s oil sands production has come roaring back, and according to IHS Markit, output is returning to pre-pandemic levels after a particularly difficult year that involved not only the Covid-19 Continue Reading
Western summer forwards climb as The Dalles Dam falls to another season low
The Dalles inflows down 30.3% year on year in June 10-day forecast indicates above-normal temperatures Mid-C on-peak July 582% higher than 2020 package The Dalles Dam water supply forecast has Continue Reading
Norway awards Arctic oil exploration permits, but fewer firms apply
Norway aims to expand oil exploration in Arctic Seven oil firms share four drilling permits Government had offered nine areas for drilling Fewer firms applied amid poor exploration results Activists Continue Reading
Gas infrastructure across Europe leaking planet-warming methane
The potent greenhouse gas methane is spewing out of natural gas infrastructure across the European Union because of leaks and venting, video footage made available to Reuters shows. Using a Continue Reading
Russian supply curbs exacerbate squeeze on European gas market
Russia has exacerbated a shortage of European natural gas supplies that has driven prices to a 13-year high by quietly limiting top-up sales to customers, according to executives and analysts. Pipeline Continue Reading
Crude oil futures rise on US stocks data as market awaits OPEC+ meet
Crude oil futures ticked higher in mid-morning trade in Asia June 23 after the American Petroleum Institute reported a large draw in US crude inventories as the market awaited the Continue Reading