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Month: August 2021

Category:
  • Prices

Oil dips on hurricane impact on U.S. refining, weak China data

Oil prices slipped on Tuesday amid concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Prices

Oil Heads for Biggest Monthly Loss This Year Before OPEC+ Meets

Oil headed for the biggest monthly loss since October as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida. Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Prices

Oil Edges Up as U.S. Gulf Producers Assess Damage After Ida

Gasoline Spikes, Oil Retreats as Hurricane Ida Batters Louisiana Oil closed modestly higher Monday in New York as offshore explorers assess damage from Hurricane Ida and investors shift focus to Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Wind

Record 2020 Wind Installations Represented 42% of New Power

The U.S. installed a record amount of wind-generating capacity last year, adding nearly 17,000 megawatts of power on land, according to an Energy Department report being released Monday. Wind energy’s Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Climate

Killer Heat Forces Cities to Adapt Now or Suffer

Climate change abruptly gripped North America’s Pacific Coast at the start of summer, setting new heat records by staggering margins across the region’s cities and towns. Hundreds of people died. Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Air Quality

Highly polluting leaded petrol now eradicated from the world, says UN

Algeria, the last country to still sell leaded petrol, ran out of its last supplies in July There is now no country in the world that uses leaded petrol for Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • OPEC

Oil Could Rise Further As OPEC Suggests Keeping Output Cuts In Place

Crude oil prices could rise further if OPEC+ stops adding barrels to global supply, which is a possibility after the cartel’s next meeting, according to the Kuwaiti oil minister. “The Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • OPEC

OPEC+ likely to keep oil output policy from September unchanged, sources say

OPEC+ is likely to keep its oil output policy unchanged when the group meets on Wednesday and continue with its planned modest production increase, three OPEC+ sources told Reuters. The Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Libya

Libya’s Oil Industry Dispute Grows As Minister Suspends NOC Head

The tension among Libya’s top oil officials escalated on Sunday when Oil Minister Mohamed Oun said he had suspended the chairman of the National Oil Corporation (NOC), which is the Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Iraq

Baghdad makes second KRG budget transfer

Iraq’s federal government has sent a second budget transfer to the semi-autonomous Kurdistan Regional Government (KRG) under a stop-gap political deal . Two senior KRG officials said the transfer, of Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Arabia’s grandiose climate plans struggle to take off

When Crown Prince Mohammed bin Salman announced Saudi Arabia’s “green initiative” this year he did so with the type of eye-catching pledge that has come to characterize the young royal’s Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Guyana

How To Capitalize On Guyana’s Oil Boom

The oil market has come through some tough sledding the last 6-8 weeks as doubts about the commitment of OPEC+ to the newly agreed output limits, and the surging Delta Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • China

China’s Refinery Crackdown Leaves Oil Tankers With Nowhere To Go

China is cracking down on its private-sector oil refiners in a bid to close tax loopholes and mitigate pollution. Approximately a quarter of the nation’s mammoth refining capacity comes from Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • China
  • Coal

Which Countries Are Still Selling Coal To China?

Back in April, in the midst of a contentious trade spat and unofficial coal embargo between China and Australia, Oilprice speculated that the winner of the battle may not be Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • China

China’s oil demand recovers as COVID impact eases, more quotas eyed

China’s demand for spot crude appears to be recovering after nearly five months of slower purchases caused by a shortage of import quotas, drawdowns from high inventories and COVID-19 lockdowns Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • USA

Oil Industry Surveys Damage After Hurricane Ida Slams Louisiana

Energy companies were assessing the health of refineries, pipelines, petrochemical plants, and offshore oil platforms along the central Gulf of Mexico early Monday, the morning after Ida struck Louisiana as Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Ida’s fury hits US oil production, gasoline supplies

U.S. Gulf Coast energy companies began damage reviews at offshore production facilities and started evaluating onshore power losses after Hurricane Ida caused devastation in Louisiana and rampaged through offshore oil Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Electricity
  • USA

U.S. power utilities struggle to restore power after Ida lashes Louisiana

 Entergy Corp (ETR.N) said crews have begun assessing damage where it is safe to do now that Hurricane Ida, which weakened to a tropical storm on Monday, has passed through Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Already tight U.S. East Coast gasoline supplies face hurricane squeeze

Tight supplies of gasoline on the U.S. East Coast are being pressured by refinery outages from Hurricane Ida and the shutdown of a major pipeline that supplies fuel to the Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

U.S. producers cut 95% of Gulf of Mexico oil output due to Ida

 Oil production in the U.S. Gulf of Mexico on Monday remained largely halted in the aftermath of Hurricane Ida, with 1.72 million barrels of output suspended, according to offshore regulator Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • USA

FTC to crack down on gasoline price manipulation, ‘unlawful’ U.S. oil industry mergers

The Federal Trade Commission will crack down on practices that may harm consumers at the gasoline pump and seek to deter “unlawful” mergers in the oil and gas industry, FTC Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • USA

Hurricane Ida Seen Costing Insurers at Least $15 Billion

Hurricane Ida could cost insurers at least $15 billion, according to one of the earliest estimates, as analysts start assessing the damage from one of the most powerful storms to Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • USA

Colonial Pipeline preparing for late Aug. 30 restart after Hurricane Ida

Highlights Colonial Lines 1 and 2 were closed ahead of Ida More than 2 million b/d of oil refining capacity offline More than 1 million electricity customers without power Colonial Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Refining
  • USA

New Orleans refineries assess impact from Ida, 75% of Louisiana capacity offline

Refineries clustered around the city of New Orleans, Louisiana, are taking stock and assessing the impact Hurricane Ida had on their plants and surrounding infrastructure, with nearly 75% of Louisiana Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Electricity
  • USA

Hurricane Ida Exposes Grid Weaknesses as New Orleans Goes Dark

Most of New Orleans went dark on Sunday after Hurricane Ida took out transmission lines and forced power plants offline. It was an all too familiar scene in a city that has Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Shipping

Hurricane Ida roils global shipping markets: sources

Highlights Naphtha, grains, LNG shipments delayed Jet fuel trade flows may increase Clean tanker freight supported Global shipping markets have been roiled by major disruptions after Hurricane Ida made landfall Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Natural Gas Exports

US LPG cargo loadings for Asia unaffected by Hurricane Ida: traders

Aug LPG loadings for Asia seen holding at 3.7 mil mt Sep US LPG loadings seen around 4 mil mt Propane premium to butane narrows to $1/mt LPG cargo loadings Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Coal

NOLA coal shipments on pause due to Ida rail, port closures

Channel surveys underway, expected to take one-two days Floodgate closures stall rail operations Coal carriers remained moored Aug. 30 in the New Orleans region as Hurricane Ida forced closures of Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Electric Cars

ORNL licenses high-power wireless vehicle charging technology to HEVO

The US Department of Energy’s Oak Ridge National Laboratory (ORNL) has licensed its high-power wireless charging technology for electric vehicles to HEVO. The system provides the world’s highest power levels Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Germany

Rising Energy Prices Send German Inflation To 13-Year High

Higher energy prices pushed Germany’s annual inflation to a 13-year high in August, as household energy, motor fuels, and food prices jumped, preliminary data showed on Monday. Germany’s harmonized index Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Russia

Russian Oil Giant Rosneft Seeks Approval To Export Natural Gas

State-controlled Rosneft, the largest oil producer in Russia, has asked Russian President Vladimir Putin to be allowed to export natural gas with giant Gazprom acting as an export agent, Russian Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • North Sea
  • Norway

Aker BP May Have Drilled Its Last Well in the Barents

Aker BP ASA, Norway’s second-biggest oil operator, isn’t planning on drilling for more oil and gas in the Arctic Barents Sea. (Bloomberg) — Aker BP ASA, Norway’s second-biggest oil operator, Continue Reading

Posted On : 31 Aug 2021 Published By : Tom Whipple
Category:
  • Prices

Oil drops after Hurricane Ida hits U.S. Gulf rigs, refineries

Oil prices reversed gains on Monday, pulling back from more than three-week highs reached earlier in the session, as a powerful hurricane slammed into the U.S. Gulf coast, forcing shutdowns Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • Prices

Gasoline Jumps After Ida Hits U.S. as Crude Fails to Hold Gains

Ida Batters Louisiana With Winds Stronger Than Katrina U.S. gasoline futures jumped after Hurricane Ida barreled ashore in Louisiana, disrupting processing facilities, while oil failed to hold onto an early Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • Renewables

Renewable Energy Consumption Has Tripled In 10 Years

The is the sixth article in a series on BP’s recently-released Statistical Review of World Energy 2021 . Previous articles were: Today, I want to cover renewable energy. Renewable energy Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • Climate

Oil-Rich Nations Face Growing Pressure To Go Green

Governments in long-established oil-rich nations around the world are coming under fire for their decisions over oil and gas versus renewable alternatives. The once-coveted natural resource is now a question Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • Colombia

Cocaine Production Soars In Colombia As Oil Industry Crumbles

Conflict-torn Colombia’s economically crucial oil industry continues to labor under the pressure of an array of threats. After being severely impacted by the pandemic oil output in the Andean country Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • Oil Supply

Emerging Economies Deserve A Chance At Oil Riches, Too

Emerging economies must continue to rely on fossil fuels while demand is high, largely ignoring the developed world’s green transition and taking this opportunity to develop their economies and boost Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • Carbon Capture
  • China

China’s CNOOC launches first offshore carbon capture project

China’s top offshore oil and gas producer, CNOOC, has launched the country’s first offshore carbon capture and storage (CCS) project in South China Sea, which is expected to store more Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • China
  • Hydrogen

Sinopec plans to spend $4.6 bln on hydrogen energy by 2025

China’s Sinopec Corp plans to spend 30 billion yuan ($4.6 billion) on hydrogen energy by 2025 as the state oil and gas major pivots to producing natural gas and hydrogen Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • coronavirus
  • USA

The U.S. reaches 100,000 average daily Covid hospitalizations for the first time since winter.

The daily average for hospitalized Covid-19 patients in the United States is now more than 100,000. That average, calculated over the last seven days, is higher than in any previous Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Ida Shuts in Majority of Gulf of Mexico Production

The Bureau of Safety and Environmental Enforcement estimates that approximately 95.65 percent of the current oil production in the Gulf of Mexico has been shut in as a result of Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Oil firms cut 96% of U.S. Gulf of Mexico crude output as Hurricane Ida slams coast

Energy firms on Sunday had suspended 1.74 million barrels per day of oil production in the U.S. Gulf of Mexico, according to the Bureau of Safety and Environmental Enforcement (BSEE), Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • Economy

Drivers warn of burnout as global trucker shortage bites

Aliaksandr Matsiash, a Belarusian exile, joined Lithuanian trucking group Baltic Transline in May. But after two weeks of training, followed by 13 weeks living in a truck-based in the Netherlands Continue Reading

Posted On : 30 Aug 2021 Published By : Tom Whipple
Category:
  • Prices

Oil Posts Largest Weekly Gain In Over A Year

Oil advanced as a brewing hurricane shuts Gulf of Mexico crude production while the Federal Reserve reinforced its support to begin tapering stimulus by the end of the year. Oil Continue Reading

Posted On : 28 Aug 2021 Published By : Tom Whipple
Category:
  • Prices

OIL FUTURES: Crude prices climb as Hurricane Ida threatens US Gulf energy infrastructure

 Crude futures rallied Aug. 27 as US Gulf oil and gas infrastructure braced for Hurricane Ida, which is expected to make landfall in the US as a major hurricane Aug. Continue Reading

Posted On : 28 Aug 2021 Published By : Tom Whipple
Category:
  • Prices

Oil Stages Strong Recovery

With fundamentals largely remaining the same as they were last week, oil prices nevertheless are poised to post sizable gains, with global benchmark Brent trading above $72 per barrel and Continue Reading

Posted On : 28 Aug 2021 Published By : Tom Whipple
Category:
  • Prices

Oil rises as storm approaches Gulf of Mexico production hub

Oil prices rose on Friday, on track to post big gains for the week, on worries about supply disruptions as energy companies began shutting production in the Gulf of Mexico Continue Reading

Posted On : 28 Aug 2021 Published By : Tom Whipple
Category:
  • Prices

Oil Could Be Primed For Up To 50% Rally, Strategist Says

The price of WTI crude oil could be headed for a jump of between 20 percent and 50 percent, judging from a bullish breakout pattern that suggests a major rally Continue Reading

Posted On : 28 Aug 2021 Published By : Tom Whipple
Category:
  • Shipping

Tanker Owners Say Aging Fleet Points to Illicit Crude Flows

The world’s fleet of giant supertankers is the oldest it has been since 2002, the latest sign of an illicit trade that owners say is damaging business. Publicly traded shipowners Continue Reading

Posted On : 28 Aug 2021 Published By : Tom Whipple

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