Russia was the world’s second-largest producer in the first five months of this year after the United States, data from Rosstat, the state statistics bureau, has revealed. The country produced Continue Reading
Highlights Offers diversification of import routes for Austria OMV invested ‘a little more’ than Eur800 million Sees positive economic signals for H2 2021 The head of Austria’s OMV said July Continue Reading
Heavy North Sea maintenance dents output Oil output reductions offset by higher gas output Affirms 2% full-year output growth target Norway’s Equinor suffered a 5% year-on-year drop in its Norwegian Continue Reading
A heat wave scorched southeast Europe on Thursday, sending residents flocking to the coast, public fountains and air-conditioned locations to find some relief. Temperatures rose above 40 C (104 F) Continue Reading
Oil prices held steady on Tuesday ahead of the release of U.S. inventory data as investors worried that global demand could be dented by surging COVID-19 cases, even though supplies Continue Reading
Iraq wants another U.S. company to replace Exxon as a shareholder in the West Qurna 1 field, one of the country’s largest after the supermajor leaves the country. “Exxon Mobil Continue Reading
The world’s third-largest crude oil importer, India, could join China in tapping into its strategic petroleum reserve in a bid to sell lower-priced crude to its refiners amid rallying international Continue Reading
India can potentially save 89.4 billion rupees ($1.2 billion) a year by shutting down some old coal-burning power plants and allowing newer ones to run for longer hours, according to Continue Reading
Venezuela is ignoring U.S. sanctions with its plan to boost production to 1.5 million bpd by the end of the year, around three times the current output. A document has Continue Reading
Highlights Pilot planned on two blocks Project seen opening new opportunities in shale play YPF also to invest in tertiary recovery YPF, the biggest oil producer and second for natural Continue Reading
China didn’t finance any coal projects via its Belt and Road Initiative in the first half, the first time that’s happened since the plan was launched in 2013, the International Continue Reading
In an attempt to increase pressure on Iran in order to push through a nuclear deal with Iran, the U.S. is considering cracking down on Iranian oil exports to China. Continue Reading
Japan’s ambitious energy shift to renewables is threatening future demand for liquefied natural gas as the country is the world’s largest importer of the commodity, Bloomberg reports . Japan last Continue Reading
Airlines are grappling with shortages of jet fuel at some smaller airports in the western U.S., where a travel boom is coinciding with high demand for that fuel to fight wildfires. Many carriers Continue Reading
Minnesota has become the latest state to adopt California clean car standards; the new standards were finalized by a notice in the state register on Monday. Original map from Minnesota Continue Reading
A highly anticipated review by the U.S. Interior Department of the federal oil and gas leasing program is undergoing final internal review and should be released “very soon,” Interior Secretary Continue Reading
U.S. liquefied natural gas (LNG) exports accelerated in the first half of 2021, as colder weather drove LNG spot prices in Asia and Europe higher, the U.S Energy Information Administration Continue Reading
PGNiG (PGN.WA) has terminated a deal with U.S. firm Sempra Energy (SRE.N) for liquefied natural gas (LNG) supplies from the Texas Port Arthur project due to delays, Poland’s biggest gas Continue Reading
Three floating wind projects in the Celtic Sea have been selected by the Crown Estate to progress to the next state of environmental assessment, the UK public body said July Continue Reading
Oil steadied as investors assessed the outlook for global demand amid a resurgence in Covid-19 that’s leading to tighter restrictions. Futures in New York traded near $72 a barrel after Continue Reading
Oil prices steadied on Monday after a choppy session as the spread of the COVID-19 Delta variant stoked fears about fuel demand, but losses were limited by forecasts that crude Continue Reading
Portfolio managers sold petroleum last week at one of the fastest rates for a decade, after an upsurge in coronavirus cases and an OPEC+ agreement to boost output caused them Continue Reading
Heatwaves in the U.S. and floods in western Europe have dominated the news cycle recently, forcing us to re-examine the relationship between climate change and extreme weather. Other catastrophes are Continue Reading
A UAE oil transport deal is now on hold due to environmental concerns from Israel’s environmental protection ministry following pressure from activists. The agreement between the UAE and Israel expects Continue Reading
It is not in Iraq’s best interest to adopt renewable energy at the expense of fossil fuels, energy and oil expert Hamza al-Jawaheri told local Shafaq News Agency in an Continue Reading
Chinese firms are set to build an airport and 90,000 houses in Iraq as part of a 2019 agreement for crude supply in exchange for projects, an Iraqi official was Continue Reading
Within seconds, the scenic mountain valley resembled a war zone.“Guys, we have to run!” said a man filming the devastation unfolding in his hillside town in northern India on Sunday, Continue Reading
While the COVID-19 pandemic and 2020’s oil price collapse hit Argentina’s hydrocarbon sector hard, leading to some analysts to claim that it may never fully recover , there is evidence Continue Reading
An independent Chinese refiner may have avoided paying some $2 billion in taxes by falsifying the kind of fuels it sells, Bloomberg has reported , citing a report in a Continue Reading
Highlights State-owned refiners’ utilization rate at 82% in July China expected to cut July oil products shipments H2 product export quotas to cap refiners’ Aug run rates China’s crude throughput Continue Reading
The Texas power grid operator on Monday forecast demand would reach a record high over the next week as homes and businesses crank up their air conditioners to escape a Continue Reading
Royal Dutch Shell (RDSa.L) announced plans on Monday to develop a new oilfield in the Gulf of Mexico, its first major project to get the go-ahead since a Dutch court Continue Reading
A wave of dealmaking in America’s shale patch is intensifying, wiping out weak players and leaving the once-fractured sector in the hands of a new breed of “super independents”. More Continue Reading
Oil has dominated global economics and dictated the shape, terms, and function of the geopolitical map for nearly 200 years. While two centuries is the merest of blips on the Continue Reading
Highlights Commercial crude stocks expected down 2.5 million barrels Refinery utilization likely up 0.8 point Gasoline, distillate stock draws likely extend US crude oil inventory draws likely resumed in the Continue Reading
Tesla Inc.’s TSLA 2.21% generated a record quarterly profit as the car maker largely sidestepped the effects of a global chip shortage that has constricted production for many global auto makers. The Silicon Valley electric-car maker, Continue Reading
Ever since the forced adoption of EVs by governments worldwide, all eyes have been on when the electric vehicles would finally make economic sense to produce. According to Volkswagen, that Continue Reading
Oil headed for the first decline in five days as investors assessed the outlook for demand amid a resurgence in Covid-19. Futures in New York dropped toward $71 a barrel Continue Reading
Oil prices fell nearly $1 on Monday as concerns about fuel demand from the spread of COVID-19 variants, as well as floods in China, offset expectations of tight supplies through Continue Reading
Over this century the oil sands business has consolidated into three main players: CNRL, Suncor and Cenovus, all of which have shown considerable organic and total growth in reserves and Continue Reading
When the International Energy Agency released its Roadmap to Net Zero report, OPEC slammed it as “destabilizing.” Russia said the IEA’s plan could push oil to $200 per barrel. Even Continue Reading
Lebanon will resell fuel oil Iraq will get ‘goods and services’ from Lebanon Iraq has a surplus of heavy fuel oil Iraq has agreed to sell Lebanon 1 million mt/year Continue Reading
Iraq has signed an agreement allowing the cash-strapped Lebanese government pay for 1 million tonnes of heavy fuel oil a year in goods and services, helping Lebanon ease its acute Continue Reading
Record heat waves and crippling energy shortages across much of the Middle East are plunging homes and businesses from Lebanon to Iran into darkness and stirring unrest as poor families Continue Reading
As the global oil and gas markets are recovering from the steep sell-off last Monday, threats in the market are not just linked to demand-supply concerns. Cybersecurity specialists reported this Continue Reading
As Wendy Sherman, US deputy secretary of state prepared to fly to China this weekend, Beijing imposed sanctions on seven Americans, in a tit-for-tat blow that illustrated the dismal state Continue Reading
Beijing’s crackdown on the misuse of import quotas combined with the impact of high crude prices could see China’s growth in oil imports sink to the lowest in two decades Continue Reading
The Toyota Prius hybrid was a milestone in the history of clean cars, attracting millions of buyers worldwide who could do their part for the environment while saving money on Continue Reading
Typhoon In-Fa made landfall in Eastern China on Sunday, causing the evacuation of more than 100,000 people, the cancellation of flights in and out of Shanghai and the halting of Continue Reading
Beijing’s crackdown on the misuse of import quotas combined with the impact of high crude prices could see China’s growth in oil imports sink to the lowest in two decades Continue Reading
