Highlights Action plan sets out measures for next government Focus on renewables expansion, power price reform Harmonized GOs essential for international trade Germany’s hydrogen council has called for an urgent Continue Reading
German manufacturers unexpectedly saw demand decline in May, suggesting an uneven start to the country’s economic recovery. Orders fell 3.7%, worse than all estimates in a Bloomberg survey. The Economy Continue Reading
Oil prices were slightly up on Monday with investors and traders awaiting crucial talks by OPEC+ following disagreement over output within the group that could lead to major producers pumping Continue Reading
Saudi Arabia Energy Minister Prince Abdulaziz bin Salman insists that OPEC+ must extend its production agreement to the end of next year. Brent oil was steady near $76 a barrel Continue Reading
Crude oil futures were steady during mid-morning trade in Asia July 5 as the market continued to await guidance on the OPEC+ alliance’s production plan for August onwards after the Continue Reading
A remarkable oil rally has seen oil prices climb almost 34 percent so far this year. Bullish sentiment is now driving speculation of $100 oil in 2021 as collective confidence Continue Reading
Melting permafrost across Arctic regions has already caused highways to buckle and homes to sink. A new study conducted in the north of Alaska helps explain why rising temperatures are Continue Reading
A rebound in global gas demand to 2024 following a record fall last year is poised to knock the world off track for a climate goal of achieving net-zero emissions Continue Reading
A high-stakes game of oil diplomacy pits Saudi Arabia against long-time ally Abu Dhabi. And the result of their fight will shape not just the price of oil for the Continue Reading
The world’s largest independent oil trader expects crude’s rally to continue on the assumption any OPEC+ output hikes will fail to keep pace with growth in demand. The Organization of Continue Reading
A few years ago, the United Arab Emirates and Saudi Arabia went as far as secretly drawing a plan for a political union.While a confederation did not materialize, the Gulf’s Continue Reading
Highlights UAE’s ADNOC spending $122 bil through 2025 ADNOC boosting capacity to 5 mil b/d by 2030 It wants Murban futures to become benchmark OPEC is no stranger to squabbles, Continue Reading
Current Oct 2018 baseline is unfair: UAE energy ministry Wants extension of current pact beyond April 2022 to be discussed later OPEC+ to meet virtually July 5 to resume talks Continue Reading
OPEC+ ministers set to meet July 5 to resolve impasse Saudi and UAE disagree over extension of current pact Iraq is OPEC’s second biggest producer Iraq supports the proposal to Continue Reading
Iran’s Oil Minister Bijan Namdar Zanganeh said his country has taken “many measures” to ensure it can raise crude production in “a very short time” if U.S. sanctions are lifted, Continue Reading
A commercial ship that was previously owned by an Israeli-led company was attacked in the Indian Ocean on Saturday in what appeared to be the latest tit-for-tat in a shadowy Continue Reading
While Saudi Arabia continues to develop its oil industry, it is not shying away from alternative energy options, with state-owned Aramco now heavily investing in hydrogen technology. Saudi Arabia still Continue Reading
Iraqi Oil Minister Ihsan Abdul Jabbar said in a video posted on Saturday on the ministry’s Facebook page that BP (BP.L) was considering withdrawing from Iraq, and that Russia’s Lukoil Continue Reading
Guyana is continuing to build its reputation as the new oil hub of the Americas, with more oil firms seeking a stake in the country’s oil fields where it seems Continue Reading
A massive plume of methane, the potent greenhouse gas that’s a key contributor to global warming, has been identified in China’s biggest coal production region. The release in northeast Shanxi Continue Reading
Surging U.S. fuel demand amid stagnant domestic crude oil production is drawing down American crude inventories at the quickest pace in nearly 40 years. The record-fast decline in U.S. oil Continue Reading
All of the oil (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM . After the production charts, an analysis of Continue Reading
The point at which oil demand will peak has long been a focus of debate. bp chief economist Spencer Dale and Bassam Fattouh, director of The Oxford Institute for Energy Continue Reading
Oil posted its sixth straight weekly gain, the longest winning streak since December, as the standoff between OPEC+ ministers over output dragged on at the alliance’s full meeting on Friday. Continue Reading
The spotlight on the insurance industry’s support of fossil fuel projects is proving so searing that the names of some of those involved have been scrubbed from the record. Canada’s Continue Reading
Crude oil futures largely held steady July 2 amid optimism that the OPEC+ group would agree to smaller production hikes below market expectations through the end of 2021, although oil Continue Reading
Oil held Thursday’s gain after infighting within OPEC+ delayed a much-anticipated decision on raising output levels, risking an inflationary spike in prices if the group can’t come to an agreement. Continue Reading
It is hardly news any more that heat records are being broken every summer. We knew this would happen in a warming world — and so it has. What is Continue Reading
Opinion by the Editorial Board Americans should get used to terms such as “heat dome” and “megadrought.” The sorts of extreme weather events that experts warned would become increasingly frequent Continue Reading
On Feb. 6, 2020, the mercury stood at 64.9 degrees on a thermometer at Esperanza Base on the Trinity Peninsula at Antarctica. After more than a year of investigation, scientists Continue Reading
OPEC+ agreed on Friday to add more oil to the market from August and extend the duration of their pact on their remaining production curbs for longer, even though the Continue Reading
OPEC+ allies were locked in a tense diplomatic standoff on Friday amid a dispute that threatens to send oil prices sharply higher. A day after the alliance was forced to Continue Reading
As agreed in April, OPEC opened the taps in the second quarter of the year to meet a rebound in global oil demand, boosting crude production by 855,000 barrels per Continue Reading
OPEC+ abandoned efforts to break a deadlock within the cartel for a second night, increasing the risk its failure to act will unleash an inflationary spike in oil prices. Friday’s Continue Reading
OPEC and its allies abandoned oil-supply negotiations until Monday as a rebellion by a key member threatened the unity of the alliance. Talks ended without a deal to increase output Continue Reading
Opec and its allies failed to reach an agreement on raising oil production on Friday as talks hit a deadlock for a second day, with the UAE remaining opposed to Continue Reading
Saudi Arabia plans to target international transit passenger traffic with its new national airline, going head-to-head with Gulf giants Emirates and Qatar Airways and opening up a new front in Continue Reading
An official of Iranian Truck and Fuel Tanker Drivers’ Union said Thursday that drivers were refusing to transport fuel due to low or late payments from the government. There has Continue Reading
U.N.-sponsored talks aimed at paving the way for elections in Libya in late December failed to find common ground, the deputy of the United Nations mission in Libya said on Continue Reading
Crude oil exports from Venezuela inched up last month as traders rushed to sell Venezuelan crude to Chinese buyers ahead of the entry into effect of a new tax. Reuters Continue Reading
Highlights Strong prices, demand pull more Atlantic cargoes to Asia More eastward voyages around Cape of Good Hope also seen The Panama Canal Authority is monitoring for high arrivals of Continue Reading
U.S. lawmakers introduced a bill on Friday to limit exemptions offered to refiners on blending biofuels after sources said the Environmental Protection Agency chief voiced disapproval about a Supreme Court Continue Reading
The Biden administration could face pressure to block Russia’s Nord Stream 2 natural gas pipeline after a House of Representatives panel this week passed an amendment seeking to repeal the Continue Reading
The pace of U.S. hiring accelerated in June, with payrolls increasing by the most in 10 months, suggesting firms are having the greater success recruiting workers to keep pace with Continue Reading
Skyrocketing crude oil prices have prompted cash-strapped U.S. refiners to look for alternative ways to maximize gasoline production during the peak of the summer driving season. The fuel-makers are buying Continue Reading
The U.S. labor market recovery is accelerating after a spring lull. Employers added 850,000 jobs in June—the biggest gain in 10 months—and workers’ wages rose briskly, the government said Friday, both signs Continue Reading
The number of oil and gas rigs in the United States is up 5 this week, according to Baker Hughes , with the total rig count holding fast at 475, Continue Reading
The U.S. oil market is tightening as commercial crude inventories are declining at a fast clip and driving wider time spreads in the WTI Crude futures curve. The curve is Continue Reading
A US appeals court July 2 vacated the Environmental Protection Agency’s approval of year-round E15 fuel sales, rejecting the regulatory process it took to fulfill former President Donald Trump’s October Continue Reading
Royal Dutch Shell (RDSa.L) on Friday launched Europe’s biggest hydrogen electrolysis plant at the Wesseling site of its Rheinland refinery after two years of construction, as it expands further into Continue Reading
