Oil Prices finished up for the week ending July 30, 2021 and concluded a run of four consecutive positive months. Oil posted its fourth straight monthly gain as steady demand Continue Reading
Oil prices fell on Friday but remained on track to post weekly gains with demand growing faster than supply, while vaccinations are expected to alleviate the impact of a resurgence Continue Reading
Oil prices climbed this week as U.S. inventories tightened and the risk of Iran reaching a new deal and bringing extra crude online decreased. Friday, July 30th, 2021 Crude prices Continue Reading
Natural gas prices are rising across Europe and Asia due to tighter supply of the commodity, lower production in Europe, and lower exports from Russia, the Financial Times reports , Continue Reading
Oil analysts and economists believe that $70 a barrel is a more realistic outlook for Brent Crude prices for the rest of the year than $80 oil, as COVID variants Continue Reading
Oil prices will trade near $70 per barrel for the rest of the year supported by the global economic recovery and a slower-than-expected return of Iranian supplies, with further gains Continue Reading
The world economy likely returned to its pre-pandemic size in the spring, according to economists, marking an extraordinary comeback from the deepest global downturn in decades. But new variants of Continue Reading
OPEC oil output rose in July to its highest since April 2020, a Reuters survey found, as the group further eased production curbs under a pact with its allies and Continue Reading
An attack Thursday on an oil tanker managed by an Israeli-owned company killed two members of the crew when the vessel was apparently struck by an explosive drone, the ship’s Continue Reading
EPA Israeli Foreign Minister Yair Lapid blamed the incident on “Iranian terrorism” Israel has accused Iran of being behind an attack on an oil tanker in which two crew members Continue Reading
The Chinese plant operator said it had shut down one reactor after “lengthy” talks with technical staff A Chinese nuclear plant has shut down one of its reactors for maintenance Continue Reading
Exxon Mobil (XOM.N) on Friday posted its biggest quarterly profit in more than a year that also sailed past analysts’ estimates, boosted by higher oil prices and record earnings at Continue Reading
U.S. oil consumption is rushing back much faster from the pandemic slump than first predicted as Americans are hitting the road, unleashing a burst of pent-up travel demand. Consumption is Continue Reading
New Mexico’s oil production surged to a record in May, lifting output to the second-highest in the nation and highlighting the Permian Basin’s role in leading the shale industry’s rebound Continue Reading
Big oil companies are raking in their highest profits since the onset of the coronavirus pandemic, but they plan to continue spending sparingly to boost production despite higher commodity prices. Continue Reading
Temperatures are skyrocketing yet again in the Pacific Northwest as the second major heat wave of the summer overtakes the region. This heat wave is not nearly as intense as Continue Reading
The number of oil and gas rigs in the United States fell by 3 this week, according to Baker Hughes , which reported the total rig count as 488, up Continue Reading
Highlights CEO details decarbonization plans after climate pushback Woods takes cautious tone, saying projects will take time ExxonMobil pumped 400,000 b/d of oil equivalent from the Permian Basin in Q2 Continue Reading
Oil prices fell on Friday but remained on track to post weekly gains with demand growing faster than supply, while vaccinations are expected to alleviate the impact of a resurgence Continue Reading
Oil rose the most in a week as investors see strong demand growth that should continue to whittle down oil supplies following positive signals from broader markets. Oil rose the Continue Reading
Highlights US Federal Reserve maintains dovish stance Dollar tests one-month lows Permian drilling rig count falls 6 Crude prices extended their rally July 29, settling higher on the back of Continue Reading
Worry about oil demand sparked by the resurgence of Covid-19 in some parts of the world and a fund selloff in oil futures has reversed the recent price rally. OPEC+ Continue Reading
What is the cost of our carbon footprint — not just in dollars, but in lives? According to a paper published on Thursday, it is soberingly high, and perhaps high Continue Reading
The Kurdistan Regional Government’s Ministry of Natural Resources (MNR) has issued a directive to field operators that they have 18 months to halt the flaring of associated gas that is Continue Reading
French TotalEnergies and Norwegian Equinor will exit their oil joint venture with PDVSA, Bloomberg has reported , citing unnamed sources familiar with the matter. TotalEnergies held a 30-percent stake in Continue Reading
Highlights Permian count drops 6, Eagle Ford down 3 Haynesville activity highest since 2019 Strong gas prices could test producer discipline The US oil and gas rig count fell five Continue Reading
The phone call to the Eugene Water & Electric Board was startling. A group of homeowners, fearing a storm could knock down nearby power lines and ignite wildfires, was asking Continue Reading
India reported 44,230 new COVID-19 cases on Friday, the most in three weeks, the latest evidence of a worrying trend of rising cases that has forced one state to lock Continue Reading
Summary of Weekly Petroleum Data for the week ending July 23, 2021 U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending July 23, 2021 Continue Reading
Officials have begun citywide testing in Nanjing A Covid outbreak first discovered in the Chinese city of Nanjing has spread to five provinces and Beijing, with state media calling it Continue Reading
Earlier this year, the Biden administration said it planned to build offshore wind power generation capacity to the tune of 30 GW by 2030, creating more than 44,000 direct jobs Continue Reading
The Biden administration is making strides in reducing the United States’ dependence on fossil fuels for its energy needs. The federal government’s post-pandemic plan involves hundreds of billions in financing Continue Reading
While many are quick to crow about the “Earth-saving” benefits of electric vehicles, few have looked at the incremental demand in power necessary to meet the growing demand of the Continue Reading
Local residents, ranchers, and farmers are opposing plans for the largest solar power facility in the San Francisco Bay Area, suing the county that approved the project and potentially opening Continue Reading
Highlights Q2 gas production averaged around 5.6 Bcfe/d Investment in emissions reduction, RSG certification Executives at EQT, the largest natural gas producer in the US, plan to capture value by Continue Reading
Highlights 800-MW Kitty Hawk environmental review started BOEM assessing industry interest in California Country must build infrastructure faster: Jindal US offshore wind power development is accelerating, with Avangrid Renewables’ 800-MW Continue Reading
Highlights Levels tick up from April, June likely heavily impacted Forties shutdown, ‘catch-up’ maintenance dent volumes UK offshore oil production was down 23% on the year in May at 816,000 Continue Reading
Agreement removes uncertainty over gas link project Pipeline gas provides ‘lowest-carbon’ supply to Europe High gas prices point to need for ‘strong’ policy: CFO The recent pact between Germany and Continue Reading
Highlights 2020 in top 10 for temperature, rain, sun Average temperature up nearly a degree Daily rainfall, sunshine records broken In a warning for power markets in the world’s fifth Continue Reading
Europe’s top energy companies signalled confidence in a lasting recovery from the pandemic impact by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll Continue Reading
Highlights US crude stocks fall 4.09 million barrels Production hits four-week low Delta variant spread presents headwinds Crude oil futures settled higher July 28 on the heels of a US Continue Reading
Oil advanced to the highest level in two weeks after declining stockpiles of U.S. crude, gasoline and distillate signaled healthy demand during the nation’s summer driving season. Futures rose 1% Continue Reading
Highlights Coal forecast 18% higher in 2021, renewables up 7% Coal was largest source of US electricity until 2016 Renewables account for 80% of 2021 additions Renewable energy generation became Continue Reading
Higher oil prices and higher exports resulted in a 147-percent jump in the value of Saudi Arabia’s oil exports in May 2021 compared to May 2020, data from the Kingdom’s Continue Reading
Iran’s Jask oil terminal is now fully set to start loading vast quantities of crude to any major buyer in the world via the Gulf of Oman, with the first Continue Reading
Highlights Two wells drilled simultaneously on Stabroek block Encountered 246 feet and 167 feet of net pay Adds to block’s 9 billion boe total resource estimate An ExxonMobil-led consortium has Continue Reading
U.S. oil output could take more than four years to reach pre-pandemic levels, oil producer Hess Corp (HES.N) said on Wednesday, sticking to its spending plan despite rising demand to Continue Reading
Surging prices for plastics are likely to help Exxon’s petrochemicals division post record-high earnings this week when the company reports its earnings. Items like flooring, roofing and packaging all saw Continue Reading
Highlights US crude exports average 2.489 million b/d last week: EIA Flows to Europe estimated at 678,000 b/d: Kpler Tight exports economics could hamper flows into August US crude exports Continue Reading
U.S. crude stockpiles last week fell to their lowest since January 2020 as imports and production dropped, the Energy Information Administration said on Wednesday. Crude inventories (USOILC=ECI) fell by 4.1 Continue Reading
