Oil Prices Decline for Third Trading Day
Oil fell for a third straight session as the dollar rose and investors awaited further signals from the OPEC+ alliance on its production policy after a dispute upended talks. Futures Continue Reading
Oil Prices Still Have Room To Run
At mid-year 2021 we find that we are in an unsettled state with respect to crude supplies. Of the three largest contributors to global supply, the U.S.A., Russia, and OPEC+ Continue Reading
The world is worried about the Delta virus variant. Studies show vaccines are effective against it.
As the Delta variant sweeps the world, researchers are tracking how well vaccines protect against it — and getting different answers. In Britain, researchers reported in May that two doses Continue Reading
The Plastics Sector Is Suffering As Oil Prices Rise
Four years ago, the UN declared plastic pollution a global crisis , decades after the discovery of the Great Pacific Garbage Patch –a collection of marine debris 2x the size Continue Reading
Climate Change Linked to 5 Million Deaths a Year, New Study Shows
The extraordinarily hot and cold temperatures that are becoming more common as climate change accelerates are responsible for 5 million deaths globally every year. Extreme weather accounted for 9.4% of Continue Reading
Opec ‘gets a pass to lift oil prices’ as hedging losses hobble US shale
Some of America’s biggest oil groups are racking up tens of billions of dollars in hedging losses despite soaring crude prices, as contracts signed during last year’s crash left them Continue Reading
The Real Reason OPEC Talks Broke Down
Major cracks appear to be forming in the OPEC+ alliance. After several years of unprecedented cooperation between OPEC members and non-OPEC producers, the growing regional economic and power conflict between Continue Reading
Rockets hit Iraqi base housing U.S. forces, wounding two Americans- officials
At least 14 rockets hit an Iraqi airbase hosting the U.S. and other international forces on Wednesday, wounding two American service members, U.S. officials said, while Kurdish-led forces in Syria Continue Reading
Saudi-UAE still at impasse as Russia steps in to rescue OPEC+ deal
Russia is leading efforts to close divisions between Saudi Arabia and the United Arab Emirates to help strike a deal to raise oil output in coming months, three OPEC+ sources Continue Reading
U.A.E. Pushes to Produce More Crude, Creating OPEC Deadlock
The pandemic stalled factories and shut down businesses around the world, causing a historic drop in oil demand just as production was reaching new highs. (Originally published April 16, 2020) Continue Reading
IRAQ DATA: SOMO says oil production falls in June amid tighter quota compliance
Iraq’s output fell to 3.862 million b/d in June Iraq’s quota rose in June vs May It is OPEC’s second-biggest producer Iraq’s total oil production, including flows from the semi-autonomous Continue Reading
S. African Excess Deaths at Six-Month High as Delta Spreads
Why No Country Is Safe From the Delta Variant Excess deaths, seen as a more precise way of measuring total fatalities from the coronavirus, rose to their highest level since Continue Reading
Nigeria: PIB – What You Need to Know About Proposed Law to Regulate Nigeria’s Oil Industry
PREMIUM TIMES highlights the history and components of the Petroleum Industry Bill that is again close to being passed by the National Assembly After a 20-year journey, the Petroleum Industry Continue Reading
Mexican president says Pemex to distribute gas to consumers
Mexican President Andres Manuel Lopez Obrador said on Wednesday that his government will create a new business within the state oil company Petroleos Mexicanos (PEMX.UL) to distribute liquefied petroleum gas Continue Reading
Will This Push Foreign Oil Companies Out Of Mexico?
The Mexican government launched a quest against foreign oil companies operating in the country pretty much from day one in office. First, it suspended new oil and gas auctions and Continue Reading
Innovations Speed Race to Put More Wind Turbines on Sea Floor
It’s getting faster and cheaper to embed a wind tower the size of the Washington Monument into the sea floor. South Korea is cutting the time it takes to construct Continue Reading
Daily Covid-19 Deaths in Indonesia Nearly Double as Delta Variant Drives Surge – WSJ
Deaths in Indonesia from Covid-19 rose sharply on Wednesday, with reported daily fatalities nearly double the number from two days ago, as the fast-spreading Delta variant of the coronavirus overwhelms Continue Reading
China’s Oil Industry Is Undergoing A Serious Makeover
China’s establishment of a national pipeline network, PipeChina, last October is creating a shift in China’s oil and gas industry, which aims to create greater competition and encourage new players Continue Reading
China’s Crude Imports Jumped Nearly 9% In June
China’s crude oil imports last month rose by 8.81 percent month-on-month in June to average 10.54 million bpd, energy analytics provider OilX said in its latest monthly report, adding that Continue Reading
Sydney sees worst pandemic day of 2021 two weeks into lockdown
Australia’s New South Wales (NSW) state on Thursday reported its biggest daily rise in locally acquired cases of COVID-19 this year as officials struggle to stamp out a growing cluster Continue Reading
U.S. 2021 crude output to decline less than previously forecast, EIA says
U.S. crude oil production is expected to fall by 210,000 barrels per day (bpd) in 2021 to 11.10 million bpd, the U.S. Energy Information Administration (EIA) said on Wednesday, a Continue Reading
Orsted submits bid to develop offshore windfarm in Maryland
Denmark’s wind farm developer Orsted (ORSTED.CO) on Wednesday said it had submitted a bid to develop the Skipjack Wind 2 offshore wind farm in the state of Maryland in the Continue Reading
U.S. Projects Modest Oil Output Increase in 2021 Despite High Prices
BofA’s Yazhari on Tight Oil Market, Spike in Prices The U.S. sees limited domestic oil production growth through next year despite rising oil prices and rebounding demand. Oil explorers will Continue Reading
U.S. Job Openings Rise to Record, Underscore Hiring Difficulties
U.S. Job Openings Reach Record High 9.2 Million in May U.S. job openings rose to a fresh record high in May, underscoring persistent hiring difficulties and reflecting more vacancies in Continue Reading
Short-Term Energy Outlook
Forecast Highlights Global liquid fuels The July Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty related to the ongoing economic recovery from the COVID-19 pandemic. U.S. economic activity continues Continue Reading
U.S. Fossil Fuel Consumption Plunged Most On Record In 2020
Total U.S. consumption of petroleum, natural gas, and coal slumped by 9 percent in 2020 reaching the lowest level since 1991 and marking the largest annual decrease in U.S. fossil Continue Reading
U.S. Shale Races To Hedge Production Amid OPEC+ Uncertainty
U.S. shale producers started boosting this week hedges to lock in the price of oil they plan to pump in the coming months, after the OPEC+ drama left the market Continue Reading
US oil production to start picking up in Q4 if higher prices hold: US EIA
EIA boosts price outlooks by $4/b for 2021, $6/b for 2022 Global oil demand growth to ease to 3.7 mil b/d in 2022 Vaccine rollouts, OPEC+ fight present risks to Continue Reading
US EIA lowers Q3 gas demand forecast 1.78 Bcf/d to 72.16 Bcf/d
Highlights EIA raises Q3 gas marketed output 1 Bcf/d to 100.76 Bcf/d Q3 Henry Hub spot gas price forecast rises 30 cents to $3.22/MMBtu The US Energy Information Administration on Continue Reading
U.S., Canada raise concern over Mexico energy, investment climate
Trade ministers from the United States and Canada expressed concern on Wednesday about Mexico’s energy policies, as they met with their Mexican counterpart to mark the one-year anniversary of a Continue Reading
Large-Scale U.S. Solar Growth to Top Wind for First Time in 2022
Growth in large-scale U.S. solar capacity is projected to exceed that of wind next year for the first time. That’s according to a report Wednesday from the U.S. Energy Information Continue Reading
Climate Change Juiced the Deadly Pacific Northwest Heatwave
Last week’s deadly heat in the northwestern U.S. and British Columbia would not have reached the highs it did in a world without greenhouse gas pollution, according to climate scientists Continue Reading
Climate Change Drove Western Heat Wave’s Extreme Records, Analysis Finds
The extraordinary heat wave that scorched the Pacific Northwest last week would almost certainly not have occurred without global warming, an international team of climate researchers said Wednesday. Temperatures were Continue Reading
Amtrak signs deal for 83 multi-powered trains
Amtrak has signed a mammoth contract with manufacturing company Siemens Mobility for 83 new train sets, part of a $7.3 billion plan to upgrade its rolling stock over the next Continue Reading
DOE awarding $52.5M to 31 clean hydrogen projects
The US Department of Energy (DOE) is awarding $52.5 million to fund 31 projects to advance next-generation clean hydrogen technologies and support DOE’s recently announced Hydrogen Energy Earthshot initiative ( Continue Reading
USA Pump Prices Return to 2014 Territory
U.S. gasoline consumption in the week leading up to the Independence Day holiday may have been the highest since September 2019, adding to signs of recovery from the pandemic travel Continue Reading
Record-breaking summer European gas prices signal an expensive winter
European gas prices vaulted to record highs this summer, driven by factors ranging from low inventories and outages to an Asian buying spree, and signaling further rises in coming months Continue Reading
Hydrogen fever in EU puts 2024 target of 6-GW electrolyzer capacity in reach
Proposals at 5.2 GW by 2024: Platts Analytics Spain leads way with over 2 GW Less visibility on ambitious 2030 target European electrolyzer project proposals are not far off the Continue Reading
Scientists accuse UK government of ignoring ‘long Covid’ threat
Scientists and medical experts have accused the British government of ignoring what they say could be the most damaging consequence of removing almost all pandemic restrictions from July 19 — Continue Reading
Deutsche Aircraft and H2FLY partner on hydrogen-fuel-cell technology for commercial regional aircraft
H2FLY, a German start-up developing hydrogen fuel cell systems for aircraft, and Deutsche Aircraft, a new German aircraft manufacturer developing energy-efficient, cost-effective, environmentally-friendly aircraft, signed a Memorandum of Understanding (MoU) Continue Reading
Deutsche Bahn chooses Wystrach for hydrogen refueling station for H2goesRail
Deutsche Bahn has selected Wystrach—a specialist in the transport and storage of gases—to provide a plug-and-play hydrogen refueling station for the joint H2goesRail project—a green hydrail mobility solution. With a Continue Reading
Oil rises to $75 after tumble but OPEC+ uncertainty clouds outlook
Oil rose to $75 a barrel on Wednesday with support coming from a tight market, after a steep drop from multi-year highs in the previous session amid uncertainty about OPEC+ Continue Reading
US Oil Prices Soar To 6-Year High In OPEC Standoff
The U.S. benchmark oil price WTI Crude hit its highest level since November 2014 early on Tuesday, after OPEC+ on Monday called off its third attempt to reach an agreement Continue Reading
Natural Gas Prices Fall Despite Bullish Outlook
U.S. natural gas prices fell early on Tuesday alongside a slide in crude oil prices, despite forecasts of high natural gas demand this week with expected high temperatures. The U.S. Continue Reading
Oil Slumps With Stronger Dollar Cooling OPEC-Fueled Rally
Oil surged to a six-year high as an OPEC+ supply increase was blocked by a dispute between Saudi Arabia and the UAE. Oil fell the most since late May as Continue Reading
Investors With $4 Trillion Ask Banks to Raise Climate Ambitions
A coalition of investors overseeing a combined $4.2 trillion of assets are asking the world’s biggest banks to take more aggressive action in addressing climate change and biodiversity decline. Aviva Continue Reading
A UAE spat to ‘one of the worst meetings’: a history of OPEC and others at odds
The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina LONDON, July Continue Reading
Goldman says crude oil output path uncertain as OPEC+ talks cease
Goldman Sachs said on Tuesday the collapse of OPEC+’s oil output talks had introduced uncertainty into the prospects for output, but maintained its view that Brent crude would be around Continue Reading
OPEC Stalemate Could Spark A New Oil Price War
Nearly a week of formal and side talks and behind-the-scenes negotiations failed to resolve a dispute over baseline production levels at OPEC+. The discord threw the group in its most Continue Reading
Saudi Aramco Sees A Major Market Forming For Hydrogen
There’s a lot of buzz going around about green hydrogen. It’s virtually emissions-free, it burns hot enough to replace combustible fossil fuels, and when it combusts it leaves behind nothing Continue Reading