The delta variant is challenging the part of the world that’s been most successful in blunting the economic impact of Covid-19, with Asian countries that snuffed it out locking down Continue Reading
China’s crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance, though independent refineries slowed restocking amid probes by Beijing Continue Reading
Chinese export and import growth slowed in July as flooding and extreme weather at home disrupted factory and port operations and constrained consumption, while the fast-spreading Delta variant of the coronavirus loomed Continue Reading
China started this week construction work on a new US$17-billion nuclear power plant project, for which it will install Russian nuclear reactors at the Xudabao project in northeastern China, World Continue Reading
The number of oil and gas rigs in the United States rose by 3 this week, according to Baker Hughes —after falling by 3 last week. a The total rig Continue Reading
The U.S. labor market charged ahead in July with the biggest increase in employment in nearly a year, highlighting optimism about the economy’s prospects even as coronavirus concerns resurface. Payrolls Continue Reading
The Texas power grid operator on Friday forecast demand next week would reach its highest so far this year as homes and businesses crank up air conditioners to bring relief Continue Reading
Exxon Mobil Corp (XOM.N) was suspended from advocacy group Climate Leadership Council (CLC) that looks to make policies to address climate change, the CLC said on Friday. The move comes Continue Reading
Highlights Winter wheat crop area cut 9% in Russia Platts Analytics raises spring wheat crop by 2.1 mil mt Export prices rise more than 14% on month S&P Global Platts Continue Reading
Crude oil futures were steady during mid-morning trade in Asia Aug. 6, as the spread of the delta variant of the coronavirus in key oil-consuming economies continued to limit the Continue Reading
Oil prices extended gains on Friday but remained on track for their biggest weekly decline since March as travel restrictions to curb the spread of the COVID-19 Delta variant are Continue Reading
Oil prices declined towards $70 a barrel on Thursday as more countries imposed fresh movement restrictions to counter a surge in COVID-19 cases, though Middle East tensions offered support. Japan Continue Reading
The era of cheap natural gas is over, giving way to an age of far more costly energy that will create ripple effects across the global economy. Natural gas, used Continue Reading
Human-caused warming has led to an “almost complete loss of stability” in the system that drives Atlantic Ocean currents, a new study has found — raising the worrying prospect that Continue Reading
Last week, a heat wave spurred Greenland’s biggest melting event of the 2021 season so far. The Polar Portal, run by Danish research institutions, stated that enough water melted to cover Continue Reading
The last time the United Nations-backed consortium of climate experts released a special report—Global Warming of 1.5°C in 2018—it set off a swift chain of consequences. Protest movements erupted seemingly overnight. The term Continue Reading
Near-record global temperatures last month gave a taste of the challenges the world’s economies will face in the years ahead as Earth creeps closer toward crossing a key warming threshold. Continue Reading
here’s about a 40% chance that the global average temperature for at least one of the next five years will be 1.5º Celsius higher than in pre-industrial times—and the odds are only Continue Reading
The water in the Atlantic is constantly circulating in a complex pattern that influences weather on several continents. And climate scientists have been asking a crucial question: Whether this vast Continue Reading
If the headlines don’t already feel rather apocalyptic, they are about to get worse. On Monday, the U.N.’s Intergovernmental Panel on Climate Change (IPCC) will release the first part of its Continue Reading
Stemming the methane leaks from landfills, oil fields, natural gas pipelines and more is one of the most powerful levers we have to quickly slow global warming. T The threat Continue Reading
Highlights State Department expects Iraq to curb import dependence Renewal comes after Iraqi prime minister’s White House visit The US State Department has granted another sanctions waiver allowing Iraq to Continue Reading
The threat of peak oil demand arriving sooner than predicted and the aggressive push to decarbonize the world economy in a post-Paris Agreement world is creating considerable uncertainty for the Continue Reading
Namibia has every right to celebrate. It’s never produced a barrel, but now, its Kavango Basin test wells have hit hundreds of meters of oil. And the junior exploration company Continue Reading
The federal government has been advised to handover its refineries and other commercially viable projects to the private sector in order to reduce its debts and earn more revenue from Continue Reading
Venezuela will remove six zeros from the bolivar in another attempt to save a currency that has been wracked by years of hyperinflation. The central bank said it plans to Continue Reading
In recent months, China has blown up what would have been the world’s largest initial public offering, launched probes into some of its biggest technology companies, and wiped out more than $1 trillion in Continue Reading
More than 1,100 homes in North Korea were damaged, thousands of people evacuated, and farms and roads washed away after days of heavy rains brought flooding, its state media reported. Continue Reading
China’s fuel demand is on track to hit record highs this year on a rebound in car sales and booming domestic air travel, even as a resurgence of COVID cases Continue Reading
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks exacerbated by last month’s severe floods and typhoon, state media Continue Reading
Highlights Asia continued to see year-on-year growth of 1.7 million b/d in Q2 but demand was down by 1.1 million over Q1 The quarter-on-quarter decline would be even sharper at Continue Reading
Declaring the U.S. must “move fast” to win the carmaking future, President Joe Biden on Thursday touted a commitment from the auto industry to make electric vehicles up to half Continue Reading
Exxon XOM 0.63% Mobil Corp. is considering a pledge to reduce its net carbon emissions to zero by 2050, according to people familiar with the matter, in what would amount to a significant Continue Reading
President Biden on Thursday announced a multistep strategy aimed at rapidly shifting Americans from gasoline-powered cars and trucks toward electric vehicles — a central part of his plan to reduce Continue Reading
We need the expertise, experience, and financial backing of Big Oil to drive wind energy forward in the U.S., following years of strong investments from oil firms across the country Continue Reading
Highlights Administration to tighten tailpipe emissions rules Fuel savings seen around 200 billion gallons of gasoline Sets 50% vehicle electrification goal for sales by 2030 Receive daily email alerts, subscriber Continue Reading
The US exported a combined total of 7.11 million mt thermal and metallurgical coal in June, the highest monthly level since June 2019, according to Census Bureau data released Aug. Continue Reading
Highlights Lignite tops July mix TTF front-month hits 2008-high above Eur40/mt Year-ahead clean spark spread negative first time since 2019 German gas-fired power generation fell in July as record high Continue Reading
Energy prices for millions of Britons are expected to rocket from October after the energy regulator said it would increase its cap on the most widely used tariffs by about Continue Reading
Oil prices declined towards $70 a barrel on Thursday as more countries imposed fresh movement restrictions to counter a surge in COVID-19 cases, though Middle East tensions offered support. Japan Continue Reading
Highlights US crude stocks climb 3.63 million barrels Exports fall to 12-week low ADP shows weaker-than-expected US July jobs growth Crude oil futures extended decline Aug. 4 on the heels Continue Reading
Oil prices edged higher on Wednesday, supported by a fall in U.S. inventories and Mideast geopolitical tensions, but the increasing spread of the coronavirus Delta variant in top consuming countries Continue Reading
Crude oil prices moved lower today after the Energy Information Administration reported an inventory build of 3.6 million barrels for the week to July 30. This compared with analyst expectations of a 2.9-million-barrel Continue Reading
For every week that passes without any breakthrough between Tehran and Washington, the prospect of a restored JCPOA nuclear deal looks bleaker. Talks in Vienna have remained stalled for weeks, Continue Reading
Spain’s Repsol is willing to resume oil exploration activities in Libya in light of the improved security situation in the African OPEC member, Libya’s National Oil Corporation (NOC) said on Wednesday after Continue Reading
Highlights Technical, maintenance issues keeping a lid on current output Output could become more volatile ahead of Dec elections Libya currently producing near 1.20 million b/d of crude Libya has Continue Reading
Even more so than Iran, Iraq remains the greatest relatively underdeveloped oil (and gas) frontier in the Middle East. It is little wonder, then, that it has been and remains Continue Reading
Nigeria has given its state oil firm the green light to acquire a 20% stake in Dangote’s oil refinery for $2.76 billion, junior oil minister Timipre Sylva said on Wednesday. Continue Reading
Fitch Ratings, a global credit rating agency has said the passage of the Petroleum Industry Bill (PIB) could have positive long-term effects for both the country’s public finance as well Continue Reading
One of the biggest drivers of the surge in metals prices this year, the world’s top commodity consumer China, is showing signs of a slowdown in demand, which could drag Continue Reading
