China Taps Into Crude Reserves To Curb Oil Price Rally
The world’s top oil importer, China, has started to release more than 20 million barrels of crude oil from its strategic reserve in a move seen as seeking to curb Continue Reading
Japan To Cut LNG, Coal In Power Sector As It Bets On Renewables
The world’s largest importer of liquefied natural gas (LNG) and one of the biggest importers of coal, Japan, aims to significantly raise the share of renewable power in its electricity Continue Reading
Is the Refining Sector in Crisis?
McKinsey & Company provides an answer. Demand for light products such as gasoline, diesel/gasoil, and jet/kero largely drives refinery utilization. Even in the case of a delayed energy transition, light Continue Reading
China aims to install over 30 GW of new energy storage by 2025
China aims to install more than 30 gigawatts (GW) of new energy storage capacity by 2025, its state planner said on Friday, as part of efforts to boost renewable power Continue Reading
Study: Chinese COVID shot may offer elderly poor protection
BUDAPEST, Hungary (AP) — A new study suggests that a Sinopharm vaccine offers poor protection from COVID-19 among the elderly, raising questions for dozens of countries that have given the Continue Reading
China Flood Death Toll Rises Along With Questions Over Infrastructure
The death toll from severe floods in central China rose to at least 33 people, local authorities said, as they grappled with the fallout from record rainstorms and faced questions over their Continue Reading
Japan faces heat over Bangladesh’s coal power
Some 4,000km from Japan, on a verdant, mangrove-lined island in south-eastern Bangladesh, sits one of the biggest and most controversial tests of Tokyo’s commitment to help phase out fossil fuels. Continue Reading
Low margins constrain China’s coal and gas fired plants amid peak summer demand
China’s power production hit all-time high in mid-July Thermal coal prices at all-time high on tight demand-supply Deep losses cap operating rates of gas-fired power plants China’s coal-fired and gas-fired Continue Reading
China to cut oil product exports to 1.07 mil mt in Aug amid tight quotas
Highlights To export 300,000 mt gasoil, 600,000 mt jet fuel 2-year high gasoline crack encourages export increase China’s oil companies plan to further slash their exports of key oil products Continue Reading
EXCLUSIVE China’s CCPC takes centre stage in Iran, Venezuela oil trade-sources
A Chinese logistics firm has emerged as a central player in the supply of sanctioned oil from Iran and Venezuela, even after it was blacklisted by Washington two years ago Continue Reading
Natural Gas Hits 31-Month U.S. High as Heat Adds to Supply Worry
Natural gas futures soared to $4 per million British thermal units in the U.S. for the first time since December 2018 as summer heat intensified concerns about tight supplies later Continue Reading
Startup Claims Breakthrough in Long-Duration Batteries
A four-year-old startup says it has built an inexpensive battery that can discharge power for days using one of the most common elements on Earth: iron. Form Energy Inc.’s batteries Continue Reading
Futures Exchanges Gear Up For EV Boom
The CME’s Comex and London Metal Exchange (LME) are squaring up for the industrial revolution that is electrification, according to recent posts by Bloomberg and the Financial Times . Both Continue Reading
The Renewable Energy Waste Crisis Is Much Worse Than You Think
Waste disposal is not a popular topic of discussion in the media when it comes to renewable energy. Most of the coverage that solar and wind power is getting is Continue Reading
Startup Unveils Frugal Iron-Based Energy Storage
Form Energy, a startup developing energy storage solutions, said on Thursday that it had developed an iron-air battery chemistry that could help incorporate more renewable energy into the power grid. Continue Reading
US oil, gas rig count jumps 24 to 604 amid recovery confidence from early Q2 calls
Permian Basin adds rigs: up 11 to 259 Oil jump likely caused recent rig adds 50-100+ more US rigs may start up in H2 The US oil and gas rig Continue Reading
Electric-Vehicle Sales Growth Outpaces Broader Auto Industry
The auto industry’s push into electric vehicles has gained traction this year with sales of these models growing at a faster clip than the broader U.S. car business. While still Continue Reading
U.S. Shale Sees Light At The End Of The Tunnel
The U.S. oil and gas sector is recovering from last year’s market slump. But unlike the previous boom-and-bust cycles, the industry has held off on boosting production and has focused Continue Reading
VC Firms Are Pouring Billions Of Dollars Into Green Tech
ESG investing: it’s in every media outlet and on every bank’s business plan. A rush to what many call alignment of values with investment goals has led to a flourishing Continue Reading
Natural Gas Supply Concerns Mount
Natural gas futures soared to $4 per million British thermal units in the U.S. for the first time since December 2018 as summer heat intensified concerns about tight supplies later Continue Reading
Merkel defends U.S. Nord Stream 2 deal as Ukraine cries foul
Pipeline will pump Russian gas to Germany, nearing completion Germany, US have agreed deal to help protect Ukraine interests Merkel says Germany has tools to act if unhappy with Russia Continue Reading
Russia Is Ready to Ban Gasoline Exports If Record Prices Persist
Russia is ready to introduce a ban on gasoline exports as soon as next week amid record-high wholesale prices on the exchange. On Thursday the price for a tonne of Continue Reading
UK’s Carbon Capture Plan Carries A Hefty Price Tag
The cost of development of clean hydrogen and greenhouse gas removals could surpass £40bn by 2035, according to a new report by the UK’s carbon capture trade body. The report Continue Reading
U.K. Economy Shows Signs of Slowing as Covid Hits Supply Chains
Britain’s economy showed signs of slowing in July as euphoria following the easing of coronavirus restrictions eased and a resurgence of the coronavirus caused widespread staff shortages. An index based Continue Reading
Clean Energy Producers Are Eyeing Old Coal Plants—for the Wiring
As demand for clean energy surges, would-be developers are struggling to find enough transmission lines to carry power to the people. One increasingly popular solution: retired coal plants. Much as Continue Reading
Rolls-Royce generator delivered for megawatt-level hybrid-electric propulsion system for aerospace
The generator that will be at the heart of the most powerful hybrid-electric aero power and propulsion system in aerospace has arrived for installation at Rolls-Royces’s specialist testbed. PGSy1 The Continue Reading
Mercedes to go all-electric by end of decade where conditions allow; investing €40B+ in BEVs 2022-2030
Mercedes-Benz is getting ready to go all-electric by the end of the decade, where market conditions allow, shifting from electric-first to electric-only. By 2022, Mercedes-Benz will have battery electric vehicles Continue Reading
Oil prices rise on signs of tightening supplies
Oil prices rose on Thursday, extending strong gains made in previous sessions on expectations of tighter supplies until the end of the year as economies recover from the coronavirus crisis. Continue Reading
The Real Reason Oil Prices Aren’t At $80
The UAE’s awarding last week of a slew of huge drilling contracts aimed at increasing its crude oil output capacity from around 4 million barrels per day (bpd) to 5 Continue Reading
Oil Erases Decline With Equity Markets Climbing Higher
Oil wiped out an earlier decline as sentiment firmed in wider markets, with crude gradually recovering from a rout earlier in the week. West Texas Intermediate futures added 0.3%, reversing Continue Reading
Warning signs for global recovery as Delta dims outlook
A drubbing in world equity markets and a huge flight to safety into U.S. Treasuries this week suggests investors now doubt that a much-anticipated return to post-COVID normality is feasible Continue Reading
U.S. Threatens Iran With New Sanctions If A Nuclear Deal Is Not Reached
After six months of President Biden in office, and repeatedly dashed hopes at a nuclear deal with Iran, failing to come to an agreement means instead of lifting sanctions the Continue Reading
The Global Food Waste Crisis Is Even Bigger Than We Thought
More than 2 billion tons of food goes uneaten around the world, almost double than previously thought, according to a new report. An estimated 2.5 billion tons of food was Continue Reading
Can The Airline Industry Live Without Fossil Fuels?
The global war on emissions has exploded in recent years, with every company, industry, and government on earth now desperately attempting to reduce its carbon footprint. From the introduction of Continue Reading
Iraq’s power cuts seen exacerbated by Iranian outages, Islamic State attacks on infrastructure
Iranian gas, electricity imports hit by domestic outages Islamic State intensifying attacks on power lines, pylons Iraq under pressure to wean itself off Iranian imports Iraq’s power cuts this summer Continue Reading
Protests over water shortages in Iran turn deadly amid drought, rolling blackouts
Residents in southwestern Iran have held large protests for nearly a week, denouncing the country’s leadership amid severe water shortages in the region, according to activists and video footage. At Continue Reading
Iraq production steady in June as OPEC eases quota policy
Iraq produced 4.05 million barrels per day (bpd) of crude oil in June, slightly lower than May output of 4.10 million bpd , according to an independent field-by-field tally of Continue Reading
Azerbaijan Desperately Needs To Diversify Its Energy Portfolio
Azerbaijan risks significant economic shocks in the future if it continues to rely heavily on oil and gas as the main pillar of its economy, a new report from the Continue Reading
Mozambique’s gas ambitions rest on distant hope of peace
The future of Mozambique’s gas ambitions hinges on its ability to end a deadly insurgency linked to Islamic State, but if peace is the answer the southern African country and Continue Reading
US Treasury order extends Citgo protection from Venezuelan creditors
Highlights Prevents bond holders from seizing US refining assets Platts Analytics sees new risks to Venezuelan oil output The US Treasury Department has extended for three months an order blocking Continue Reading
Chinese City Hit by Deadly Floods Suffered Heatwaves Days Before
Just days before devastating floods hit the central Chinese city of Zhengzhou, its province of Henan endured heatwaves that swept across several industrial regions, threatening power outages. Now the city Continue Reading
China Ramps Up Coal Production To Meet Growing Energy Demand
While the rest of the world is trying to come to grips with the European Union’s proposed carbon border adjustment mechanism (CBAM) – which calls for the levying of charges Continue Reading
China Offers Oil Reserves in Unprecedented Move to Cool Rally
China offered millions of barrels of oil from its strategic state reserves this month in an unprecedented move to try and quell inflation brought on by rising costs of everything Continue Reading
China rejects WHO plan for study of COVID-19 origin
A logo is pictured outside a building of the World Health Organization (WHO) during an executive board meeting on update on the coronavirus disease (COVID-19) outbreak, in Geneva, Switzerland, April Continue Reading
Death rates soar in Southeast Asia as virus wave spreads
Indonesia has converted nearly its entire oxygen production to medical use just to meet the demand from COVID-19 patients struggling to breathe. Overflowing hospitals in Malaysia had to resort to Continue Reading
Toyota Chief Scientist Pratt makes the case for hybrids and plug-ins
In a post published on Medium, Gill Pratt, Toyota Motor Corporation’s Chief Scientist and the CEO of Toyota Research Institute, explains why he is not a proponent of ditching ICE Continue Reading
U.S. crude stockpiles rise for first time since May as imports surge -EIA
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base/File Photo July 21 (Reuters) – U.S. Continue Reading
Baker Hughes Sees Slower U.S. Shale Drilling for Rest of 2021
Shale drilling in North America is going to slow down in the second half of the year from its breakneck pace as explorers cling to promises of austerity, according to Continue Reading
Delta Variant of Covid-19 Isn’t Expected to Dent Robust U.S. Recovery
The highly contagious Delta variant of Covid-19 doesn’t pose an immediate risk to the strength of the U.S. economic recovery, with analysts expecting a robust expansion to continue in the Continue Reading
Houston Scrambles To Remain The Energy Capital Of The U.S.
The United States shale sector is at a crossroads. Houston, the capital of the nation’s oil and gas industry, is at the metaphorical and industrial center of a struggle for Continue Reading